Jump to content

A quick question for Landlords re: PM


  • Please log in to reply
6 replies to this topic

#1 QuisbySchmoo

Posted 30 November 2012 - 04:23 PM

Can you tell me what percentage you are charged for PM fees?

We are currently in the process of negotiating with a new RE agency and want to get a feel for fee structure.

Property will be rented for $1000 pw.

Thank you original.gif



#2 DontKnow2015

Posted 30 November 2012 - 04:28 PM

On 500 a week we pay around $170 a month in management fees

#3 Zesty

Posted 30 November 2012 - 04:35 PM

One of our properties is 8% the other (rent is > $1000) has a normal fee of 7.7%, but we get it for 5.5% as we purchased the property through the same real estate agent.

#4 PurpleNess

Posted 30 November 2012 - 04:37 PM

9% for memory, property leased for $315 a week in WA

#5 SeaPrincess

Posted 30 November 2012 - 04:49 PM

We've had quotes ranging from 8.5% to 16%. The 8.5% was rubbish - we had 4 PM's in less than a year and they were all useless, as was their finance dept (who never paid our lawn mowing man) and maintenance dept (who didn't fix things even after we approved it). The next one charged 10% all inclusive, but then we sold that property and moved interstate. Our current PM charges 9.5%, plus letting fee, postals and the odd extra charge (but no letting fee for lease renewals, only for new leases) OR 16% all inclusive.  On the rent we're getting, 16% works out over $1,000/year more expensive.

#6 JRA

Posted 30 November 2012 - 04:55 PM

At $900 a week I would hope you would be able to get lower fees than those that have quoted.

Our properties are between $1,500 and $2,000 a week and I think the agents charge around 5%. Most of the agents charged or thereabouts for their "corporate" rentals.

I think many of them started the "corporate rentals" at about $1,000/wk

#7 QuisbySchmoo

Posted 30 November 2012 - 05:22 PM

Thank you everyone for your replies.  Interesting the difference.

DH is at the property as we speak and going through details with this particular RE agent that we have in mind for PM of the rental.

This particular property is a 3 bedroom family home 8 kms from the Sydney CBD.  We're not ready to let it just yet - reno's still happening but near completion and so should go to market within 3 weeks.

RE agent says he has people waiting - we shall see... (I'm sure we've all heard that statement before).






0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

 

'He said what?': partners' worst pregnancy clangers

Women have been sharing the worst things their partners have said to them while pregnant, and trust us they're bad.

'Cafe's babycino ban makes no sense'

It's an insult to families and bad for business.

The importance of welcoming everyone into your 'mum tribe'

"Not everyone has the luxury of a village." 

How to have a healthy vegetarian pregnancy

Q: Is it possible to have a healthy vegetarian or vegan pregnancy?

The 200 most popular baby names of 2017

Here are the most searched names so far this year.

Dirt is good for children, study confirms

Great news for grubby kids.

How dare anyone accuse a mum of 'milking' a miscarriage

A heartless comment from a stranger shocked the already devastated radio host Em Rusciano.

How breast milk can help relieve your baby's teething pain

Try one mum's simple parenting hack to ease your baby's discomfort.

Top 10 common health myths busted

To help combat the misinformation and spread good health, here are the most common health myths compared to fact.

 
Advertisement
 

Top 5 Articles

Advertisement
 
 
 

From our network

Five things you need to know about flu and pregnancy

As the 2017 flu season begins in earnest, here?s what you need to know to protect yourself and baby.

Mum tips to keep your pre-baby budget in check

Money might be funny in a rich man's world (or so ABBA told us), but for the rest of us it's a major consideration – particularly before having a baby.

5 easy ways to make your maternity leave last longer

Maternity leave is a special time for you, your partner and your new little bundle. The last thing you want is for financial worries to stand in the way of that joy.

10 ways to keep your 'buying for baby' costs down

Becoming a parent is full of surprises – not least of all finding out that, for such small beings, babies cause a lot of chaos and expense.

5 ways to prepare to go from two incomes to one

Here are some ideas for getting that budget in shape, ready for being a one income family.

 

Baby Names

Need some ideas?

See what names are trending this year.

 
Advertisement
 
 
Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.