What Every Buyer & Seller Needs to Know: Legal Advice for MR | Syd Douglas & Trent Pevy
Why Management Rights Are a Smart Investment: Expert Insights from Trent Pevy
The management rights industry is often misunderstood — but for those in the know, it’s one of the most stable and rewarding sectors to be part of. To unpack what makes it tick, we sat down with Trent Pevy of Pevy Lawyers, one of Australia’s leading experts in management rights transactions, who shared some crucial advice for both buyers and sellers.
Pevy Lawyers: Industry Leaders in Management Rights
Trent Pevy began working in the management rights sector in 1998 and founded Pevy Lawyers in 2010. With the largest dedicated team of transactional lawyers and paralegals in the industry, Pevy Lawyers is known for mobilising quickly and keeping transactions moving, ensuring clients maintain momentum during critical negotiations.
As Trent puts it, “We’ve now got the largest team of transactional lawyers and paralegals in the industry that allows us to mobilize quickly, make sure momentum in transactions is kept, and turn things around as fast as humanly possible.”
Beyond his legal work, Trent has personally invested in over two dozen management rights properties, giving him hands-on experience few others can claim.
What Are Management Rights — And Why Are They Important?
“Management rights are a byproduct of strata living,” Trent explains. As cities grow and high-density living becomes the norm, shared facilities require professional management. That’s where management rights operators come in, ensuring the smooth operation of these communities.
Trent emphasizes that management rights have thrived in Queensland, thanks to strong legislative backing, and are gaining traction in other states where the model is proving successful.
Advice for Buyers: What to Know Before You Invest
If you’re considering entering the management rights space, due diligence is non-negotiable. Trent warns against going it alone:
“The biggest mistake a buyer can make is trying to do the deal before engaging the experts. Trust the process — we’re here for a reason.”
He highlights the importance of turning assumptions into facts — a process where specialist lawyers play a critical role. From contracts to body corporate consents, expert guidance ensures buyers avoid costly surprises.
Key Steps for Buyers:
- Clarify Your Goals — Work with industry brokers to find suitable properties.
- Secure Contracts & Legal Reviews — Fast-track negotiations using standard contracts agreed upon by industry lawyers.
- Conduct Thorough Due Diligence — Review financials, agreements, and compliance.
- Secure Finance and Body Corporate Consent — Final hurdles before settlement.
Advice for Sellers: Preparing for a Smooth Sale
For sellers, presenting your business in the best light is critical. Trent advises:
“Be nimble, be able to pivot, and ensure your agreements are up to date before listing.”
He recommends reviewing and consolidating caretaking and letting agreements to simplify the sale and reduce risks for buyers. Clean, modern agreements not only enhance value but also speed up due diligence.
Common Pitfalls to Avoid (For Buyers and Sellers)
- For Buyers: Don’t skip on proper legal and accounting advice — the legislation is complex and protections are in place for a reason.
- For Sellers: Avoid assuming today’s market conditions are the same as when you purchased. Be open and transparent about body corporate relationships and contract terms.
Top 3 Tips from Trent Pevy
- Trust the Process: Decades of transactions have refined what works — follow expert guidance.
- Be Patient: Transactions take time to ensure both sides are fully informed and protected.
- Get the Right Advice: Don’t try to shortcut the process — this is a specialised industry, and expert advisors are essential.
Is Management Rights Right for You?
Trent leaves us with a thoughtful reminder:
“Be honest with yourself — are you a people person? Can you balance competing interests? This is a people business at heart, and being visible, empathetic, and diligent is key.”