Join Australia's most dynamic and respected property investment community

(SYD) How much does your PM charge you?

Discussion in 'Property Management' started by sunjet, 20th Nov, 2016.

  1. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    6,053
    Location:
    Adelaide, SA
  2. skater

    skater Capitalist -- www.skatepro.com.au Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,563
    Location:
    Sydney
    I've got that as well. In fact, one is only 5%.
     
  3. DiligentPM

    DiligentPM Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    511
    Location:
    Brisbane
  4. josh123

    josh123 Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    71
    Location:
    sydney
    3% plus GST in Bankstown area, service is quite average. I think it's a case of you get what you pay for type of service.
     
  5. Redom

    Redom Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    948
    Location:
    Sydney
    Was shocked at the difference between states & quality of service recently.

    Our QLD PM % rates are around 8-10%. Its a bit higher for NRAS properties though given reduced rental figures and additional compliance and work involved.

    Nonetheless, our sydney PM charges 4% (GST inclusive) and are relatively great at what they do.

    Somehow organised a $100 rental increase on existing rent (it was a bit out of market), signed a long lease extension, provide access to the property whenever we want (doing work on it), handled transfer between agents, insurances, bills, communicate well and often, etc.

    Fingers crossed it stays this good. :)
     
  6. devank

    devank Look, lets just get on with this, ok? Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    815
    Location:
    Inner West - Sydney
    Sydney rents are higher. Possibly agents get similar $$ amount for doing same amount of work as other state PMs do.
     
  7. chylld

    chylld Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    615
    Location:
    Sydney
    Used to be with a PM @ 5%+GST, now with one for 8%+GST as they are much better at keeping the tenants happy and resolving minor issues without bothering me... and they also let me have management fees billed separately so I can capitalise them :)
     
  8. Tony66

    Tony66 Active Member

    Joined:
    3rd Dec, 2015
    Posts:
    29
    Location:
    NSW
    Hi,
    I have a unit there and PM charges 8.8%. They look after well but lot of repair bills though the unit is only 6-7 years old.
    I would like to know how well your PM manage it? Are you able to share / message about the details of your PM please?
    Thanks