WA Management fees are all these fees the norm ? Perth

The leasing fee is 2 weeks plus gst
inspection fee every 3 months : 55
A fixed lease renewal negotiation of : 150
Annual financial summary: 44
Administration fee per month : 10
Management fee : 9.3
Property condition report fee at the commencement of each tenancy: 220
Final bond inspection fee : 120
Attendance fee : 55

I feel like this has way to many fees.. ? This is based in Perth this is Mandurah area

 

Those are "Howdy you Eastern states-type" prices.

 

Take out the monthly fee and the annual statement fee. That would be good for Perth.

 

What about the final bond inspection fee and attendance fee ?
I just updated my post

 

Search finds a few threads on Perth Management fees.

Those fees are not uncommon in Perth. Amounts may vary

 

Tell them to take the bond inspection fee out of the bond - they'll find $120 in deductions.

A ten dance fee - I've got 2 left feet.

 

If i asked them to remove
financial annual summary fee
monthly administration fee
Remove the attendance fee
And bond inspection fee
Would i be asking to much ?

 

The way I think is the 9.30% should cover the annual statement and monthly fee. Other wise what's it for?

 

9.35% and yeah ill get them 2 out. What the other fees i mention in my post what you think ?
I got a place in Brisbane i dont really pay anything other then 8.8% and 45 dollers on inspection fee and 45 on lease renewal fee
So this seems excessive

 

There are several Perth PM threads discussing fees - check them with the search function.

 

Perth Property Management Fees

Recommend Property Manager West Dianella, Perth

Perth - Property Management [WA]

 

I gather the attendance fee is to attend court on your behalf? I think that is a legitimate expense and a bargain at $55 - surely it's $55/hr? I also think final bond inspection fee is legit too.

I am used to Perth pricing though so not a lot phases me. Is that 9.3% management fee including GST? because that might be a little high for my liking

 

Nope court attendance is another fee , this fee didnt specify anything it just said attendance fee for attendance.
For the management fee it says 9.35% of gross collections , i cant see anything about gst so am i to assume thats including gst ?

 

I wouldn't assume it. Is this in a letter or on a management authority form?

 

Its on a management authority fourm contract. I will call and ask. Just want to see what you think about the other fees ?

 

Outgoing tenant

Incoming tenant

You would also want 12-month leases

I have noticed Perth fees dropping over recent years (or new players going in low)

 

I have a discount due to multiple properties so my fees might be less but your fees look about right. I'd be ringing a few local (sorry I don't know anyone down there) to see how they compare.
I think attendance in that context if not court is if you requested the PM to go there and check on something for you.

 

So are these normal fees or ??

 

I hate to say it, but these fees are about normal in Perth although you might get some discount for multiple properties.

Prior to self managing about 10 years ago, I used to use a PM but got sick of having to manage the Property Manager all the time.

My analysis several years ago for a typical Perth property looked like the following:

Assume $500 pw rent
Annual Rental income = $26000
Agents fee at 10% + GST = $2860
Lease fee at 2 weeks rent +GST = $1100
Inspections 3 @ $99 = $297
Sundries at $10pcm = $120
Loss of rent during tenancies 2 weeks* = $1000
Total $5377
Total as a %age of rental income = 20.68%

NB: *Agents typically tend to wait until tenants vacate before fully marketing and showing a property. Alternatively, they often wait until vacate issues are resolved such as additional repairs or cleaning. For example when using a PM I always had at least a 1-2 week gap between tenants for this reason, whereas when self-managing I have often had tenants ready and waiting to move in as soon as vacant.

You may get a better deal than as shown above, but the reality is that it will be costing you around 18-20% by using a Property Manager.

I am not suggesting you should self manage, just be aware of the overall costs of using a property manager in Perth.

 

I cant self manage it anyways im in Sydney, yeah thats alot ontop of that mine want administration fee and a fee for end of sale statement LOL im going to try and get rid if thoese . I dont like the property condition report fee either.