Jump to content
A quick question for Landlords re: PM
6 replies to this topic
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.
Posted 30 November 2012 - 04:28 PM
On 500 a week we pay around $170 a month in management fees
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.
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.
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
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
The horrific terrorist attack in Manchester, killing 22 people and injuring many others, including children, has impacted people throughout the world.
Now you can have your baby or toddler's name printed on their Bonds Zippys.
A mum has taken to Facebook to warn parents of the dangers of a popular baby monitor after her daughter sustained a burn to her foot.
Children under the age of one should not be given fruit juice, according to new advice issued by the American Academy of Pediatrics.
One of the weirdest things about your little kids getting older, I find, is when they start to be able to hold full conversations with you.
Aspirin and early detection are helping to save the lives of Australian women and babies at risk of dying from the pregnancy complication pre-eclampsia.
Some mums are left physically and emotionally depleted, with nothing left to give, long after giving birth.
A technique that effectively "unblocks" a woman's fallopian tubes by flushing them with liquid to help her conceive has been used for decades, with varying levels of success. Now a study has confirmed that the method significantly improves fertility, and that a certain type of fluid – one that is oil-based rather than water-based – shows strong results.
Chances are you've heard of body pump, but have you heard of belly pump?
It's a common problem faced by mums returning to work after an extended period of maternity leave. How do I account for the gap that years at home caring for babies has left in my resume?
Make sure you aren't eating while reading this post.
Top 5 Articles
From our network
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.
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.
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.
Here are some ideas for getting that budget in shape, ready for being a one income family.
See what names are trending this year.