PM Fees

Hi All,

Thought it would be interesting and was just wondering what PM fees you currently get charged.

Probably the best format would be

Fee:
Rent (p/w):
Location: (City/State)
Letting/Reletting:
Advertising:
Other Comments: (e.g. they manage 3 properties).

 

Fee: 8.8% including GST
Rent: $440 (p/w)
Location: Maroochydore/QLD

Plus the usual weeks rent fee for finding the Tennant.

Not to sure how these fees stack up against others in QLD but by all reports seems to be pretty standard.

MJS

 

Got a price yesterday which was

Fee: 6.6% inc
Rent:430-440 pw (it isn't rented)
Location: Melbourne/VIC

The standard fee was 7.7% but because I knew one of the girls there they said they would discount it.

 

Standard fee in Brisbane is 8.8%

 

Fee: $1249 + GST (fixed cost, regardless of rent)
Rent (p/w): $390 (as above, fee doesn't change with increased/decreased rent)
Location: (City/State): Brisbane
Letting/Reletting: One weeks' rent

 

Fee: $1249 + GST (fixed cost, regardless of rent)
Rent (p/w): $370
Location: (City/State): Clayfield/Qld
Letting/Reletting: One weeks' rent

Fee: 7.3%
Rent (p/w): $450
Location: (City/State): West Ryde/NSW
Letting/Reletting: One weeks' rent

Looks like I am using the same agency as aussieshorter in brissy - fixed price

 

Fee: 5.5%
Rent (p/w): Varies between $280 pw to $380pw
Location: (City/State): Artarmon, Bomaderry, Lake Illawarra, Nowra, Orange
Letting/Reletting:1/2 week

 

I'm curious how many of you are also paying for things like monthly admin/sundry/postage fee, annual statement fee, initial inspection fee, routine inspection fee, tribunal fee, renewal fee, etc etc etc. Some of these things can add another percentage point on, at least!

 

Marketing fee $265 (inc GST) Not negotiated but if I tried I believe it would have been lowered.
Tenancy database search $33 (inc GST) Not negotiated
Admin fee $4.40 monthly (inc GST) reduced from $8.80
Annual Statement $33 (inc GST) reduced from $55
leasing fee 1.5 time weekly rent (plus GST) reduced from 4.4% of annual rent
Management fee 6.6% (inc GST) reduced from 7.7%
Re-leasing fee 1.1% of annual rent (inc GST) reduced from 2.2%
Registered mail $4.40 standard
Outside duties fee $110 hr
VCAT attendance and presentation $110 hr
Tribunal application fee $55.60
Warrant of possession fee $133.70

Hope that helps a little.

 

My partner and I own several IPs and our rates vary - our own experiences highlighted how important it is for investors to be able to budget without all the add ons - we have since established our own boutique PM agency servicing Brisbane with a flat percentage rate of 7.5% plus GST and the usual one weeks rent to source new tenants - no add ons for admin, attending tribunals etc - finding that owners value this as noted with some posts with flat rates

 

Good on you

 

Great thread idea! Mine are below:

Fee: 7.7%
Rent (p/w): $290 (increasing to $310 at beginning of Aug)
Location: Brookfield, Melbourne
Letting/Reletting: 1 weeks rent
Advertising: $100 (haven't paid in 3 years though due to continuous tenant)
Statement Fees: $40(includes monthly email statement and end of year statement)
VCAT Notices/Attendance: $132.83
Other Comments: Manage one property

Fee: 7.7%
Rent (p/w): $430
Location: Quakers Hill, Sydney
Letting/Reletting: 1 weeks rent
Advertising: $100
Other Comments: Manages one property

 

I got quoted 8.5% and i don't think GST has been added to that.
North Brisbane area.

 

For my Sydney properties, all are with one agent:
Rates are 3.3-4.4%
Rent is $300-800/week across the properties

 

Wow, that's a cheap rate! Is the service good? Do they charge high letting fees or advertising?

 

I average 7.7% in qld and 5.5% in nsw. Nsw has no trimmings (I have to pay the sneaky extras when they pop up), but qld covers most of them for their 7.7%

 

3.5% on 4 ip's same agent all 4 properties +$1.50 per statement
1 weeks rent for new tenants no other fees
7% 1 ip another agent

 

7.25% vic, 2 properties with the same agent.
2.75 sundry fee, 2 weeks letting fee.