Perth Property Management Fees

Yep, one of the principals Rod Ryan has retired (he was probably pushing 80 years of age) and sold the business to Rental Management Australia. Same people though and the same 10% deal. I still have my PM who has been managing my properties over the past four years.

 

Interesting... the 10% might just be with ongoing customers as the quote I received from them was nowhere near that.

 

Hmm, I hope it doesn't change for existing customers in future.

 

I'm bringing up this thread again as I've just been looking over numbers and realise I am paying close to 18% fees with my PM. Just seems ridiculous now as I have two properties with them, they are good but I'm sure there are comparable PM's who charge a lot less than this for a similar service. Any recent recommendations or good reviews from the Perth team on here? Cheers!

 

I would definitely go with Investors edge .
We have 2 properties with them, great service and less than 10% fees. They also don't rip you off with some of the fees that others seem to do in Perth.

 

Early days but I went with Box Property and no complaints... 11% flat fee, only charge you extra for any advertising required.

 

I use Investor's Edge. Jarrad runs it, Emma is head of PM and my actual PM Jo is an investor herself - all are very switched on, fantastic with comms, accountable, contactable and professional. I'm in this game daily in various capacities and IMO you won't find better PM, particularly in Perth. No kicks backs or referral fees of any sort for me, just some genuine feedback.

Cheers,

Andrew

 

I was with DeFreitas Ryan now with Rental Management Australia. I find them to be a low quality service. Going on 6 weeks since tenant mentioned that were thinking of leaving.
According to RE Ad the "Placement manager" has 56 properties he is looking to find tenants for.
6 suggestions either family members as referees or from private managed properties.
The PM is really pushing a Covid refugee family. Doesn't understand when I said I want a local Perth person who is homeless not people who are adding to the issue.
PM is of mindset put anyone in then use inspections to keep property in good condition.
I guess the poor man pays twice. I thought D&R were pretty ordinary and they charged me 11% in total.
RMA has already charged me fees over my flat rate.
Rate over

 

Investors Edge
Base 9% +gst
New lease 2 weeks rent + gst
Property report new tenant $220
Final Bond inspection $220
4 to 6 monthly property inspection $99
Lease renewal $165
Court time $77 hour up to $500
Another $40 costs new tenant

 

They charge a lot of extras

 

How has your experience with RMA been?

The DFR was 10% for everything?
RMA just charged me $1200 leasing fee

 

I can't recommend Oscar from dedicated PM highly enough. $59 a week, no other fees (zero, no marketing, etc etc.) Oscar's also excellent, I'm honestly not sure why he doesn't charge more.

He's worth engaging for a chat if anyone's thinking of listing their property.

 

https://www.dedicatedpm.com.au/

 

Just to confirm, when I say no marketing, I mean Oscar doesn't charge you for the listing on Domain/Real Estate etc etc.

You can speak to him yourself about this part, but to ensure someone doesn't sign him up then dump him after 1-2 weeks and he walk away with a loss, he often requests a minimum sign up time.

Regardless, it's about $3k per year and worth running the numbers to see if he's worth a chat for your property. Obviously, lower end properties $59 a week can be a lot, but mid to higher range it's a bargain. Price aside, I would recommend Oscar as a fantastic PM even if his fees were the same or slightly higher than elsewhere. This is compared to numerous train wreck PMs I've used on the East Coast.

 

I’ve been using a PM mentioned on here that has received good reviews but I find their service particularly lacking. Slow in responding to emails, terrible at organising maintenance. I’m having to organise my own trades out of state.

How is Oscar with managing maintenance requests? Is he proactive? Does he have a a good panel of contractors that provide value for money? Does he vet the quotes and provide input/recommendations on the quotes received?

 

Oscar is great with comms. I haven't had him go more than 24 hours without a response. Often it's a matter of hours. He'll also let me know if he's flat out and ask if he can call at X time tomorrow to discuss. If it's urgent, he'll make time.

I haven't had to use his contractors much; however, given he only does property maintenance I would be shocked if he didn't have to trust and rely on good maintenance folk. Since using his services across two properties over 3-4 months, we have had to have one repair person come out and the estimated quote we were provided was slightly higher than what the repair actually came in at, which was a pleasant surprise.

I can't answer all of your questions from my own experience; however, at the end of the day I can only strongly recommend you give him a call to discuss and suss him out yourself. Anecdotally, I enquired with a few PMs and was very impressed with his approach, and he also came around to meet me and my partner in person before we decided to sign up with him. No sleazy sales tactics or promising us the world then not delivering.

Again, I recommend you touch base to identify if he's the right PM for you. He is for me/my partner.

 

$1,200 leasing fee? How does that work?

I'm grandfathered from DFR but I am thinking of changing PMs. RMA's service is nothing like it was with DFR. I don't really have a dedicated PM anymore, it keeps changing and they don't even tell you when it does. Nothing gets followed up, often they take ages to respond and do not provide individual PM mobile numbers - you have to go through the main switch. Very disappointing.

 

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Still having that argument.

I had 2 properties when I went to RMA 2 different PMs (South Perth) . After 6 months I sold because the service was crap.

The other was poor, I got given to the Joondalup office and slight improvement. I now have another PM who is good. I met her at my property and they plan to increase my fees. They used too get $32 a week 2.5 years later $56 now which isn't enough.

 

Thanks for the comprehensive reply @Sgav

Will definitely give Oscar a call!