Property Managers and Management Fees

Hi,

What do the Management fees normally include other than the collection of rent ?

Is the Management Authority supposed to specify what it includes?

 

Management fee is a percentage of weekly rent. Theres also other fees like admin, reports. Bills and rates are paid from your rental income.

I did a small writeup about agent fees on Linkedin if you’re interested
Property Management Agent Fee Breakdown and Comparison

 

I understand the Management fee is a percentage of the weekly rent but what service is provided for this fee.

 

Well... management?

Seriously though, what they do should be fairly well outlined in the management agreement yes. If you have a specific question about a specific issue you should just ask that though.

 

• Fielding stupid questions from tenants
• Arranging /paying Repairs
• Arranging access
• Key minding service
• Paying bills
• Answering the phone/email & returning calls/email (but not always)
• Lease administration
• Compliance with Fair Trading
• Act in the capacity of agent on behalf of the owner

 

Try this,

 

Here's mine for an example:

 

Thank you all, quite impressed with all the replies. You have given me lots to discuss with property managers that I will be considering. Great work!

 

Are property managers supposed to provide some sort of verification or receipt that the bond has been lodged with the relevant body?

 

In QLD, when a bond is lodged with the RTA the RTA send an Acknowledgement of Rental Bond form to the parties. Depends on the Lessor-Agent relationship if this kind of details is passed back to the Lessor. Some Owners want to know and be across everything, micro-management style, others want nothing to do with it and that's why they pay a PM to manage it for them..

 

Management is supposed to be somewhat all-inclusive. The major items that aren't always included are:
- Making and processing insurance claims.
- Lodging, preparing for and attending tribunal.
- Dealing with fencing disputes.