Property management Perth

Hi all,

I've been getting quite a few messages about which property manager I'm using/going to be using in Perth but haven't been able to give anyone an answer yet. Basically, I've just spent the last two months vetting around 15 agencies...what an exhausting process!

I'm yet to actually kick off the process of letting and management as I'm completing a renovation first but I'm very confident I've found what I'm looking for and I've basically done all the hard work for anyone looking to engage a PM in Perth.

Cheers!

 

How can you recommend them when you haven't used them yet...?

 

Pretty happy with the one I used for the past 2 yrs for my property over there.

I've always valued service and knowledge over price.

 

Who is it @D.T. ? Im looking for a change.

 

Paddington realty, they only do north / east suburbs though. You had some in wanneroo from memory?

 

That's a good point, but I haven't said I'm recommending them yet Only that the vetting process is complete as I've had quite a few emails asking the question.

 

Fair enough. Good luck with it all.

 

Hey guys (@Andrew Hancock @Scaphella @D.T. @Colin Rice, @Perthguy @Westminster ) I am looking for PM for the property that we are going to buy. We ask the realty that does the sale and they quoted me the list below:

-Management fee including GST 7.7%

-Leasing Fee - 12 month lease 2weeks rent + gst , 6 month lease 1.5 weeks rent + gst..

-Advertising $280.00

-Professional photography $85.00

-Inspections $55.00

-Final Inspection $198.00

-Lease Renewal of 1 weeks rent + GST

-PCR as charged by third party (can be between $130-$220 depending on size of property)

-For Lease Sign $44.00

-End of Financial year Statement $44.00

-Representation in court up to $250 if required


This seem quite expensive with multitude of fees, but I from Sydney and I am new to Perth so I really don't know if this is the norm.

Can you guys please let me know if this is reasonable there?

 

WA fees for the win, wish other states could be like them

What suburb is the property in? The one i use has a higher percentage rate than that but not some of the other bits, so probably does work out less overall. What kinda things did you ask them? Or are you just trying to find the cheapest?

 

Thanks for the reply @D.T. I am looking for decent service for a reasonable price. The suburb is Victoria Park. Would like the agent to be proactive and motivated as I am from Sydney and wouldn't able to do a lot of things in person.

 

It's about right for Perth.

You can have a higher standard rate (as @D.T. ) says and they'll include more things like inspections/reports

 

Proactive and motivated. That will be very hard to find in Perth.

 

All those fees are the norm here. Wish I could recommend you someone but I find them all pretty painful. Atleast ask for the end of financial year statement to be waived and the lease renewal fee waived or $150 plus gst. Some people might say whatevz but they all add fat to their fees and are completely negotiable.

 

There are now a few agencies who do fixed % all in. They range from 10 to 12%.

 

I’ve always wondered why that was?
Is it somehow more expensive to manage Perth properties?
Less competition?
Some kind of un-spoken pact that the REAs all agree to?
Manage less Property per agent?

What gives?

 

Barrier to entry is part - have to be in industry 2 yrs before applying for license whereas some other states anyone can apply for license and commence.

The other part is they havent undercut each other in a race to the bottom. This is especially prevalent in Sydney but goes on everywhere.

Some agencies want to work by volume - earn a little bit per property but have lots of them and make their revenue target that way. I'd rather make revenue target over less properties and actually handle each one properly.

Others are looking for a point of difference over their competitors so choose pricing as dont have much difference to offer in other areas.

 

In Perth, it is heavily legislated and a lot more is done. I have been to many conferences around the country where this has been discussed. There are cheaper agents that undercut others, but you are likely to find they have a high staff turnover. A good agent pays their staff well and retains them., Victoria Park is a great area, and you should achieve a decent rent once renovated.

 

So... Lock in ‘C’ thanks Eddie.



Blacky

 

What do you mean by "a lot more is done"? Personally my impression has been that on average, Perth PMs are less competent and professional than their eastern states counterparts.

 

Having worked in both states, i dont have any idea what you mean?