An agency theory perspective on the owner/manager relationship in tourism-based condominiums

The study specifically focuses on strata title condominiums located in major tourism regions. This sub-sector of the condominium management industry was chosen for study because it exhibits several key attributes distinguishing it from the non-tourist-based condominium sector. For example, two different parties represent the principal (resident owners and investor owners), also a significant proportion of a resident manager's work relates to the management of short-term holiday unit letting. In light of the particular agency relationship dynamics arising in large tourist-based condominium governance, several suggestions concerning the legal environment of the industry are provided.