NSW How much do you pay in Property management fees

Discussion in 'Property Management' started by new2invest, 26th Jan, 2022.

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  1. new2invest

    new2invest Member

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    I’m crunching numbers as I’m considering renting out my property on the south coast of NSW. I would like to get some idea of how much people are paying realestate agents to manage their rental properties. Does anyone have any tips for me or any things I should consider before making a decision?

    Thanks everyone & happy Australia Day!
     
    new2invest, 26th Jan, 2022
    #1
  2. MJS1034

    MJS1034 Well-Known Member

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    Paying 8% on one property on the Sunshine Coast and 7% through the same agency for a Brisbane property.

    I prefer using a more boutique agency as it feels more personable and get better access to my property manager. Was originally with a big agency where my property manager was looking after 180 properties alone. Way too many IMO.
     
    MJS1034, 26th Jan, 2022
    #2
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  3. shorty

    shorty Well-Known Member

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    One at 3.3% (absolutely useless, about to sack them) and one at 5.2%, who is about to get another property to manage.

    In Melbourne.
     
    shorty, 26th Jan, 2022
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  4. new2invest

    new2invest Member

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    That’s a really good tip-asking the agency how many properties they manage. Thanks! When you say you’re paying 8%, is that 8% of the weekly rental income you receive?
     
    new2invest, 27th Jan, 2022
    #4
  5. new2invest

    new2invest Member

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    Thanks shorty!
     
    new2invest, 27th Jan, 2022
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  6. AsburyJuke

    AsburyJuke Well-Known Member

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    8.5% in Qld (pretty average service, but can't find anyone better)
    11% in WA. (very good service).
     
    AsburyJuke, 27th Jan, 2022
    #6
  7. momentum26

    momentum26 Well-Known Member

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    6.6% incl gst in QLD - competitive rates followed by prompt and very responsive service. Their rates in no way impact the level of service I receive.

    5.5% incl gst in VIC - excellent service and hands-on PM.

    8.5% incl gst in WA - excellent service and hands-on PM.
     
    momentum26, 27th Jan, 2022
    #7
  8. bradleee16

    bradleee16 Well-Known Member

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    7.2% incl gst in QLD for 2 properties - great service.
    7.7% incl gst in VIC - just started using them but so far so good.
     
    bradleee16, 27th Jan, 2022
    #8
  9. Phoenix Pete

    Phoenix Pete Well-Known Member

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    Peanuts and monkeys....
     
    Phoenix Pete, 27th Jan, 2022
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  10. Bradley Peet

    Bradley Peet Well-Known Member

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    "But I'm saving $20pw!! Yes it takes up my time but its worth it!" :eek:
     
    Bradley Peet, 27th Jan, 2022
    #10
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  11. MJS1034

    MJS1034 Well-Known Member

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    Yes.
     
    MJS1034, 27th Jan, 2022
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  12. mik

    mik Well-Known Member

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    That sounds a lot better than the 11% incl GST that I'm paying..... and getting poor service.
    Who are they (and I'll give them a call) ?
     
    mik, 31st Jan, 2022
    #12
  13. James724

    James724 Member

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    It 11% all inclusive? May I know north or south suburb? Thanks.
     
    James724, 1st Feb, 2022
    #13
  14. AsburyJuke

    AsburyJuke Well-Known Member

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    Yes, all inc. In the south.
     
    AsburyJuke, 3rd Feb, 2022
    #14
  15. skater

    skater Well-Known Member

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    Best thing to do is talk to the Agents in the area and ask them. Don't just use price alone as the criteria.
     
    skater, 3rd Feb, 2022
    #15
  16. Scott No Mates

    Scott No Mates Well-Known Member

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    No, 8% of all sources of income including wages. :oops:
     
    Scott No Mates, 3rd Feb, 2022
    #16
  17. Lizzie

    Lizzie Well-Known Member

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    Also be aware that the percentage paid may not include all services. Some will charge a lower percentage but tack on a fee for inspections, paying bills etc

    I pay 5.5% at one agents, and 6% (plus fees) at another
     
    Lizzie, 4th Feb, 2022
    #17