first time renting our PPOr to make it IP its a regional NSW area (Goulburn) we contacted the RE we bought the house from , the are the largest and reknowned RE agents in the town and they have been really helpful throughout out buying process We are looking at $430/week rental income and below are the figures of the RE fees Our management fees for residential properties are: Our Commission is 8.8% (GST Inclusive) Our letting fee is One weeks rent + GST Our lease fee is $33.00 (GST Inclusive) Our administration fee is $4.40 (GST Inclusive) per statement I was told that there is no other charges involved Does it look a bit bit too much?
I would say too much for Goulburn, but in saying that am not in that market. I would say no fee for re lease to same tenant 8.8 is too much with all the extra fees....imo....but depends on how good a job they do. My highest fee PMs have been worst performers, so performance is not tied too fees. Never has been.
Looks pretty normal to me. Having said that - I'm used to Canberra rates/fees which are similar to those that you've outlined. In the larger cities it's usually a bit cheaper - but the rents are also higher. Cheers Jamie
It seems reasonable compared with QLD rates, regional is likely to be higher. I believe the best metric is make sure as best you can that you are going to get a reasonable service or better, then consider fees after that. It's commonly considered by landlords the other way around.
