Good property manager in Deer park

Hi,

Just wondering does anyone know a good property manager in Deer Park area in Melbourne? Currently, I have been quoted as below. Is that normal to pay for Inging report preparation, routine inspection and annual statements separately after paying 6.6% management fees? I would have thought they should be included in the management fees. Also, is 2 weeks of the asking rent for letting fees is standard in Vic? Thank you.

LETTING FEE – 2 weeks of the asking rent. One off payment for the leasing of the property to each new tenant

MANAGEMENT FEE - 6.6% percent taken from the rent collected prior to disbursement

MARKETING FEES - $250 Flat Fee for the advertising campaign including all internet sites, for lease board, 6-8 professional photos of the property and listing brochures.

SUNDRY FEE- $2.50 Flat monthly transition fee

VCAT At Cost: Current charges; Application $81.50, Possession Orders $153.30 these government charges may vary for time to time. Harcourts Deer Park/Cairnlea do not wish to profit from our Landlords misfortune due to VCAT Hearings. Our time spent relating to the matter will be included in the Management Fees

REGISTERED MAIL - As per Australia post charges.

INCLUSIVE ITEMS:

PROSPECTING TENANT AND ACCEPTANCE OF APPLICATIONS - Included in Letting Fees

INITIAL LEASE PREPARATION - Included in Letting Fees

INGING REPORT PREPARATION - $110.00

PREPARTION OF SPECIAL CONDITIONS - Included in Letting Fees

SING UP OF TENANTS - Included in Letting Fees

BOND LODGEMENT - Included in Management Fees

ROUTINE INSPECTIONS - $33.00

ARRANGEMENT OF MAINTENANCE AS REQUIRED - Included in Management Fees

BOND CLAIM - Included in Management Fees

PREPARATION OF MONTHLY INCOME STATEMENTS -Included in Management Fees

PREPARATION OF ANNUAL STATEMENTS - $55.00

PHOTOGRAPHY PROFESSIONAL -Included in Marketing Costs

BOARD -Included in Marketing Costs

INTERNET (REALESTATE.COM, DOMAIN.COM) - Included in Marketing Costs

BROCHURE BOOKLET- Included in Marketing Costs

 

Your listing prices but not services.

Can you go to a car yard and just look at a price list or do you want to know what you're actually getting? Is the car new or used, is it a BMW or a holden? Did a p plater or granny drive it?

If it was me, I'd be talking to @Lil Skater, I don't know what she charges and to be honest I don't care. My mutual clients I have with her rave about her a lot, and if I had a half million dollar asset in Melbourne I'd want someone who gives a damn looking after it.

 

Thanks @D.T.

Unfortunately I cannot help out Deer Park way at the moment and instead am only looking after existing clients until I can find me a decent staff member.. Can help with the fees though.

FWIW VCAT application fees are $61.50 and not $81.50 - so I assume that's a typo. I like that they don't charge for their time, I do the same thing as my own little guarantee.

Letting fee + advertising is normal and reasonably standard. Each agent will list the pricing differently (for instance I use a %).

It is very common over in Perth to pay for condition reports, routines etc. I imagine this is their point of difference for clients that don't want the full service. It saves on costs for the client and also saves on costs of staff members needed to be out and about at properties.

Looking at it I would say it's reasonable and probably means their all inclusive rate is around 7.7% ish - it's just worded differently and looks cheaper than other agents who charge 7.7%+ as standard. All just a marketing strategy.

 

Thanks @D.T. and @Lil Skater. It is good as long as it is standard in Vic.
I got the quote from this agency mainly because I am going to settle on an IP with them and they can advertise it for rental before settlement so it can be leased out quicker. Cheers.

 

^ This is a common misconception but actually, every agency can advertise before settlement.

 

I'd get those 3 things included under the standard management fee, annoys me when they try and sting me money for a report that's spat out automatically. I found with one agency, after I requested not to be sent the annual report as I didn't want to pay, I still get sent it for free as it's default on the software they use.

 

@Mcube, how did you go with finding a PM?

Am beginning the process of looking for a property manager in this area myself.
Does anyone have any PM recommendations? Any experience with PM in this area, good or bad, would love to hear it!

Thanks

 

Love our PM in Deer Park and will have him look after our latest acquisition in Melton too.

He particularly proved his mettle when we had issues with a tenant from an existing lease when we bought our property in Deer Park. Long story short we had to go to the tribunal and being interstate investors based on Sydney, Lawrie was the best PM we could have wanted in that situation.

Contact: Lawrie

 

Thanks @Ajmalhotra, I have recently signed up with a PM

 

Yeah, sorry. I have pm'ed Ringo1 about that.