QLD Property Management Fees Logan 2021

Hello Everyone!

I am an interstate investor just purchased my first QLD IP in Logan. I have contacted an property management agent who gave me the following quote:

The regular fees

• 8.8% Management Fee - inclusive of GST - this is calculated on the weekly rent paid
• $6.60- inclusive of GST per month administration costs.

Fees as they arise

• One weeks rent + GST - for finding a new tenant
• $99.00- advertising fee
• $99.00- lease renewal fee
• $110- QCAT ( Court) & Insurance costs

Do you think it is a reasonable quote for Logan IPs? In NSW we have cheaper management fee (5.5-6.6%), no monthly admin, and also one week of rent for new tenant (plus $35 contract preparation).

It is much appreciated If you could share your IP's management fees in logan. Thanks in advance!

Cheers!

 

Sounds fine.

Are you more interested in getting a discount on their fee or getting more money in your back pocket?

ie- are they proactive in noting possible maintenance issues, keeping tenants in check, quarterly inspections, what is their vacancy rate, what is their staff churn etc etc.

 

Hoe many agents have you interviewed to understand their approach and costs - it's as much about 'the how' as much as what's coming out of your pocket. I've paid more for PMs because they've saved me costs and headaches in the long run.

Have you checked out the PMs who post in PC?

 

The quality of your PM should be as much a consideration as fees. On that side I highly recommend @Tom Rivera who manages my personal Logan properties.

 

Thanks Melissa!
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You can find cheaper in the area, but nothing there stands out as unreasonable. Ultimately the quality of service is going to make a much bigger difference to your net return than a variance in fees of around $10wk.

Also, bear in mind the average rent in Logan is approximately $350wk. Since the percentage derives the fee from the rent collected, even at a higher percentage, local agents are working hard in a difficult area, for less.

 

+1
Have used @Tom Rivera in the past and can't recommend him highly enough!

Professional operator with expert local knowledge; proactive & very resourceful.
Was glad we had him to lean on across multiple properties before exiting the area.
Competitively priced - will outperform whatever he charges.

All round good guy also