PM's Routine inspection fees!

I thought the minimum time for termination is 30 days. I'm in QLd. Is it something new? I heard legislation was changed a year ago.

 

I agree, we are lucky that we have a very clean management fee structure, (letting, management fee and p&) and no hidden costs but its so frustrating that you hear from clients continuously who find these fees down the track. I hate nothing more as an agent that having to be reactive, its all good and well to get a call from a client saying hey what's fee and then you explain and they go "oh yeah I remember now" but its a reactive phone and a negative one at that.

I would absolutely recommend you go back at them and ask them to waive they fee, they probably would have in the initial negotiations if it had been brought up............

Only thing I have to say in their defense, I see why the charge is there 7% is on the lower end of management fees.......... they would be smarted to go in at 7.5% and NO EXTRA's

Good Luck

 

You need to change PM's immediately. This aspect should be part of the 7-8% that you are already paying for. What else are they doing for you for the 7-8% comms?

 

I'm in QLD. I just came back from a real estate with the Property Occupation Form 6 and Property Management Schedule, which are totally new to me.

I compared the Form 6 and the Schedule with previous Form PAMD 20a form and noted that previous single commission fee has beed divided into rent collection commission, management commission and periodic inspection fee. In the past, the commission fee was all inclusive (excluding postage). WTF!

 

Its common in certain states (I'm looking at you WA) for the PM to include literally nothing in the % fee, except the collection of the rent.

And yes, it does make one wonder what they are paying for.

 

Someone put a screenshot on Facebook the other day of a Perth agreement, it had 9.35% management, $320 ingoing condition report, $100 routine inspections, a monthly admin fee, 2 week letting fee, and a few others.

 

When I purchased an IP several years the agent who had been managing the property had so many fees for this that and the other, that as soon as settlement occurred I had another agent manage the property.

 

Sumayya Red Rocket Springwood (QLD), who has been frequently recommended here, charges periodic inspection fee on top of > 8% commission fees (including rent collection commission and management commission)

The real estate sector obviously has learnt something from the banks regarding how to creat more and more fees and charges.

 

Better than Australia Post they charge more for a lesser service and even more for the same service you received earlier this year.

 

Sumayya charges $39 per inspection, is that correct?

 

I asked my handyman to inspect my property in QLD while he did a cornice repair job for me. The inspection was FREE

 

I am sure that $50 will be levied on you during a quiet month, for a minor repair.

 

GoGecko.
Free house inspection report every 3 months with full colour photos.
PS. They give clients free gecko keyrings as gifts.

 

yes，she charges
$39 per inspection.
5.5% per week rental collection commission
3.3% per week mamagement fee
$5.50 per month postage etc

 

I agree.. I don't know how they can justify taking 7-8% and then treating basic duties like an add on!

 

Do you have IPs with GoGeco？If so what's your experience with them？

 

Property managers can charge anything for anything legally.
Check overall agreement before you sign.

 

PMs can charge whatever they want to, just creating a name for it. Nothing will be illegal. Now they charge inspection fee on top of management fee (I don't know what management is involved because there are separate fees for rental collection and periodic inspection). Suppose they can also charge photo evidence fee, inspection preparation fee, communication fee, tradie arrangement fee, tenant complaint investigation fee.....

 

Yes, just check some WA agencies out

 

I know. It's going to be worse than banks as I said before.