Join Australia's most dynamic and respected property investment community

Rental commission in Gold Coast

Discussion in 'Property Management' started by LCK, 7th Jan, 2016.

  1. LCK

    LCK Active Member

    Joined:
    20th Jul, 2015
    Posts:
    39
    Location:
    Sydney
    About to settle on a property in the Gold Coast, and the real estate charges a whopping 8.8 percent + GST + sundry fees of $6 per month..

    Is this normal? Can anyone recommend a better real estate which might be a tad cheaper
     
  2. LifesGood

    LifesGood Home Building & Development Consultant Business Member

    Joined:
    26th Jun, 2015
    Posts:
    646
    Location:
    Perth WA
    That's normal for Perth. Cheapest isn't always best so make sure you evaluate their overall service and see what value they offer.
     
  3. Props 2 U

    Props 2 U Member

    Joined:
    20th Oct, 2015
    Posts:
    13
    Location:
    Brisbane
    That is way too expensive. If you would like a great PM, let me know. I am paying only 6.6% - total.
     
  4. God_of_money

    God_of_money Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    75
    Location:
    Gold Coast
    Props2U.. may I know which PM agent that you are using?
    I am looking for one @ Gold Coast

    my current one is charging 8.25% + sundry + 1 week rent + $55 listing fee
    even renewal fee
     
  5. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    443
    Location:
    Brisbane
    From my inderstanding all RE S charge a week's re let fee to source new tenants (covers many activities and advertising costs) however not all agencies charge sundries or lease renewal add on fees.

    What is critical is the quality of service and follow through especially on maintenance matters.
     
  6. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
    Posts:
    472
    Location:
    Loganholme, Brisbane
    Is it the norm to charge half or a full weeks rent to write a new lease for the existing tenants when their current lease is about to expire?
     
  7. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    443
    Location:
    Brisbane
    Some agencies do to claw back admin staff costs. Other agencies do not. Our agency do not have add on fees
     
  8. God_of_money

    God_of_money Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    75
    Location:
    Gold Coast
    no taker on recommending good PM around gold coast area???

    Has anyone ever use rentalexpress?
     
  9. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,605
    Location:
    Adelaide, SA
    Its different per state, and even then different per agency.
    Renewal is one of the fees we do charge (but we don't charge many other common ones) as we feel this is justified with the amount of work involved. It's also not very often as we try to maximise the duration of each tenancy.
     
  10. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,229
    Location:
    At work
    What work?
    Don't they just sign a new form??
     
    Richard Williams likes this.
  11. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,605
    Location:
    Adelaide, SA
    Not here
     
  12. Richard Williams

    Richard Williams Buyers Agent - Southeast QLD Business Member

    Joined:
    9th Aug, 2015
    Posts:
    472
    Location:
    Loganholme, Brisbane
    Yes, in my case $350 to have the tenants arrive at the agents office and sign the form :D:D:D
     
  13. Whiz

    Whiz Member

    Joined:
    3rd Jul, 2015
    Posts:
    8
    Location:
    SE QLD
    I've found it's 'normal' for agencies to try and flog you with a list of as many extra fees as they are able to fit onto their A4 pages. :rolleyes:
    However, sundries of $6 are just a tad above average.

    Try 'Real Estate Works'.
    Details below.
    Their rate is below 8% I believe, but they've been doing such a good job since I engaged them that I haven't thought about the rate since then.

    Real Estate Works

    1304 'Lumiere', 230 Marine Parade
    Labrador, QLD 4215
    Phone: (07) 5526 3672
    Fax: (07) 5676 9699
    Mobile: 0409 899 957

    Email: admin@realestateworks.com.au