Property Management Fees Brisbane 2021

Dear fellow investors, would you mind posting your current property management fees in Brisbane for comparison!
I've been advised that the fees are generally 7-10% of the rent, plus 1-2 weeks rent as a leasing fee, plus extra for EOFY statements.

 

I am paying 7.1% for my two properties in Brisbane. I think that is about standard rates...not 100% certain though.

I do get absolutely fantastic service from them so no complaints here, probably the best property managers in Brisbane IMO (Oasis property).

edit: $400 for a new lease as well, $0 in other costs...

 

That's pretty good!
I'm being offered 7.5% by Harcourts

 

It depends, how long ago leases were signed or moved to... and what terms where back then and how many IPs one has that can further negotiate? Some of us can negotiate on many aspects in the contract, remember anything is up for negotiations.
Mine is lower than 7% plus many no other fees, but some of my contracts are from 21 years ago, which I refuse to alter, even when moving back between agents.
Having many IPs may help with negotiations too.
I even negotiate on property manager's shorter contract terms, as I always state if you are looking after my properties you have no reason to worry that I will move elsewhere, right?
Also, to me it is not just about say the lowest fees, it is also about my relationship with them, how good are the property managers are in terms managing: maintenance, rental periods, inspections, late payment procedures, etc, etc, etc.
Sometimes you can pay so much less for fees but poor maintenance of your IPs can cost you many $ down in time?
So just be aware it is like running a business, what is vital to you in that relationship of running this business? I am always a proactive landlord rather than a passive one.

 

Standard fee while I worked in Brisbane was anywhere between 7.5%-9% +gst.
I charged 8.5% plus gst management fee
110% letting fee
QCAT attendance fee

 

I've got 2 IPs managed by an agency in inner-west Brisbane.

• 7% (+ GST) management fee
• 1 week (+GST) letting fee for a new tenant
  
• $140 advertising fee

No fees for anything else (re-let, statements, postage and petties etc). Happy with the service too - way better than the big franchise REA we were previously with.

I've recently reached out to a specialist rental agency and they offered me the same rates (except they also offered free advertising), so I'm guessing it's about right.

 

Mine, seldom find anyone cheaper and if they are they still don't give the value I do to my clients...

 

Those numbers sound about right to me. I think I am paying around 8% with a $10 admin fee per month. The numbers don't concern me too much, I would be more focused on getting the best PM you can.

 

Does anyone's PM charge for:
- Organising for repairs (I'm not talking about the cost of repairs, I'm referring to arranging for the repairs)
- Processing insurance claims

 

Just purchased a property with existing tenants on a contract to end of this calendar year. The vendor of the house is a property manager, working with the agency that facilitated the sale of the house. They rang me up, as current/new owners, offering to break contract (and I pay the contract breaking fee and all associated costs of course) to change management over to them to manage the property (which she used to own), and slapping us with an uncompetitive 8.6% management fee. Strangely enough someone who works as a property manager didn't manager their own property when they owned it - perhaps legally not allowed to due to conflict of interest or other legislations...

It's like she wants to have her cake and eat it too... No thanks. Everything about this deal sounds bad for me and good for the other party.

 

What makes 8.6% uncompetitive? Is it the dollar amount, or is it something else lacking in their services or expertise?

 

If it were the case that 8.6% was competitive, the potential property manager would not be so quick and willing to drop the rate over the course of 1 business day in order to gain my business. So that is implicit in the rate being uncompetitive.