Management and Letting Rights (MLR), in general terms is a small to medium business that gives the right to the resident owner of a lot, contained within a community living complex, to fulfil the role of Caretaking Service Provider on behalf of all lot owners and to operate a letting business on behalf of non-resident owners. The person or entity who owns the Management and Letting Rights is usually referred to as the Resident Manager, mainly because they manage a business in a residential complex.
Thousands of people choose to become resident managers for numerous reasons. Whether it is a combination of investment return, a combined home and business environment or the lifestyle aspect, it has proven to be a very attractive business proposition.
In most states and territories, the Management and Letting Rights business model exists under varying legislation, but it is most prevalent in Queensland. As a source of employment and revenue, the industry contributes significantly to the Australian economy.
Letting rights are also known as Management and letting rights which can read more about here https://www.tdkm.com.au/management-rights/management-and-letting-rights/