I think im being ripped off by this PM

Discussion in 'Property Management' started by Darlinghurst Boy, 31st Mar, 2016.

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  1. EN710

    EN710 Well-Known Member

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    Ask their copy in PDF. They should have one.
    If you wonder about the actual % then just clarify with them with how it's calculated.
     
  2. P j T

    P j T Well-Known Member

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    What day is it today! i think your answer is right there..
     
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Perth prices, huh!
    The very cheapest I've seen over here is 10% flat.
     
  4. BennEznElle

    BennEznElle Well-Known Member

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    Yes, you are correct. It's 7.7%, not sure why I typed 6.6.
     
  5. Mr Dabolina

    Mr Dabolina Well-Known Member

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  6. TMNT

    TMNT Well-Known Member

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    whats the jusitification of that, seems like BS to me,
     
  7. dabbler

    dabbler Well-Known Member

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    In my best Sergey voice.....

    "As you may see in my posts, I am a most serious person" can't make it any more simples than that -----> :):):)
     
  8. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    Because they can. I've seen up to 14% it's ridiculous.
     
  9. D.T.

    D.T. Specialist Property Manager Business Member

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    Momentum Wealth charges like 18% over there I've heard.
    Why does it need justification?
     
  10. TMNT

    TMNT Well-Known Member

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    yeah thats the thing,

    imagine if maccas in one street doubled their prices,
    theyd go out of business within a month,

    I always believe in free trade and equilibrium pricing, unless its a tight knit and hush hush industry like diamonds for example
     
  11. TMNT

    TMNT Well-Known Member

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    obviously no one needs to justify it to me personally, but free market dictates that if there are cheaper alternatives or easy entry for a competitor then the prices will adjust accordingly
     
  12. dabbler

    dabbler Well-Known Member

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    I think that is a bit of a low aim, I have some of them paying *me* for bandwidth use and having to spend time reading all the rot they put on some statements. :)


    what Jess said, beat me to it, but also a business may want less rentals, or wants to get paid better for less work, but when it gets up too or over, it starts you thinking more about options.
     
  13. Azazel

    Azazel Well-Known Member

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    This could be the straw that breaks the camels back.
     
  14. dabbler

    dabbler Well-Known Member

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    None of them are likely right, close maybe, but not likely right.

    You have to know the exact rental per week or year or month to work out %, the rent collected could be for more or less than a month.

    I think it is bizzare that you do not know or look at your agreement to know exactly what the charges and rates are.

    And yes, your probably uptight about nothing.
     
  15. Azazel

    Azazel Well-Known Member

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    No way?!?
     
  16. skater

    skater Well-Known Member

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    Sure you can! I've done it! I don't want, or need their stupid reports.
     
  17. TMNT

    TMNT Well-Known Member

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    Really? Not one of my pms allow me to do this


    In fact whennone brought it in they informed us of these new costs and i politley declined

    Their response " sorry but the system wont allow me for you to be the only one to be not included"

    Honestly i just let it slide since i couldnt be bothered changing agents in principle.
    But it did cross my mind
     
  18. Nick Valsamis

    Nick Valsamis Well-Known Member

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    Ask them to send it via email only and drop the bs lawyer like fee.
     
  19. skater

    skater Well-Known Member

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    I have one PM that sends it to me.....but I don't pay for it. She can't single me out for receiving it, but each year will refund me the costs.
     
  20. Azazel

    Azazel Well-Known Member

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    Do you mean the annual profit and loss statement?