Fully-Furnished Management - Brisbane

Discussion in 'Property Management' started by Pumpkin, 11th May, 2020.

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  1. Pumpkin

    Pumpkin Well-Known Member

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    Hi,
    Someone is looking at renting out their Unit in Brisbane Inner City, fully-furnished.
    What is the rate of fees people normally charge?
    I have heard it's higher than the "normal" fee but just wondering if someone can give us a range.
    Thank you!
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Short term, daily/air bnb or as a normal rental? Which services so they require eg regular cleaning, advertising etc?
     
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  3. Pumpkin

    Pumpkin Well-Known Member

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    Sorry should have mentioned this is permanent letting, 6-12 months Lease, most likely students.
    No cleaning required. Advertising yes, just the usual.
     
  4. Scott No Mates

    Scott No Mates Well-Known Member

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    Should be no different to a normal letting but with a fully itemised inventory of furniture etc.
     
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  5. Pumpkin

    Pumpkin Well-Known Member

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    Beg to differ.... There are more works involved for the PM to look-after those Inventory... TV, Beds, Mattress etc etc. All trivial work but the additional rent per week is very minimal.
    Quote: I have heard it's higher than the "normal" fee but just wondering if someone can give us a range.
     
  6. Michael Mitchell

    Michael Mitchell Property Manager Business Member

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    Fully furnished long stay in this day and age with cheap ****** disposable house hold gear and "clumsy" / "heavy handed" tenants is a nightmare for owners whom are not getting a premium price for the rental to make up for it. The only saving grace is stuff is so cheap and generally "ok" from K-mart etc.

    I only have a handful of fully furnished, they're headaches, most agencies would charge a higher rate as it is definitely more work. Sub 10% for long-stay and not a million+ dollar property. If if it's short stay, you're looking at like 12-13%
     
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  7. Pumpkin

    Pumpkin Well-Known Member

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    [QUOTE="Michael Mitchell, post: 828790, member: 16956"..Sub 10% for long-stay and not a million+ dollar property. If if it's short stay, you're looking at like 12-13%[/QUOTE]
    Thanks Michael, that's what I thought.
    There is a market there for FF properties: kids with rich parents for example: Cant be bothered organising for furniture, just move in with a suitcase, and move-out after 6-12 months. Especially Students and Working Holiday Visas. We have always done this for our own properties and have good returns. The Tenants are not fussy, 10-year old sofa and best part is they dont even want TVs these days! :p But managing for other people is a different story. I need to make sure we charge a fair rate.
    Cheers,
     
  8. Scott No Mates

    Scott No Mates Well-Known Member

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    You will require a real estate licence If you're managing on behalf of someone other than yourself.
     
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  9. Pumpkin

    Pumpkin Well-Known Member

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    Fortunately I do have a Full RE Licence with OFT plus a Corporate one.
    Speaking thereof, where is the State Govt Support of us small people?
    Been wanting to ask about this Qld Labor Govt Re Rego, RE Licencing, both individual and corporate etc.
    Oh, the New Treasurer will be scratching his head to come out with the Budget....
     
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  10. Scott No Mates

    Scott No Mates Well-Known Member

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    Jobseeker/Jobkeeper?

    Unless your turnover has dropped (property management - not much/sales definitely impacted but we did have a dip in prices last year)
     
  11. Michael Mitchell

    Michael Mitchell Property Manager Business Member

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    The biggest issue I've found with fully furnished is the cleaning and 'sanitisation' of all the furniture such as lounges, bedding, couches, chairs, etc. It becomes so onerous and expensive and hard to hold tenants to account nor do they generally have the same expectation at exit (and consideration for the next tenants) as they were so fussy when they moved in, and it's expensive to have the job done properly and of course they don't want to pay.
     
  12. Pumpkin

    Pumpkin Well-Known Member

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    Those require Application and a whole heap of paperwork which some people do not enjoy.
    I am referring to Rego, RE Licence... not just Land Tax.
     
  13. Pumpkin

    Pumpkin Well-Known Member

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    Yes, totally agree. That's why thusfar we only did it for our own properties; Cant imagine having to deal with the Owners with these things. :eek:
    Even that, we dont provide pillows or blankets, we draw the limit....
     
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