(SYD) How much does your PM charge you?

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

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    Sure, on your Sydney properties :p
     
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  2. skater

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

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    I've got that as well. In fact, one is only 5%.
     
  3. 733

    733 Well-Known Member

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    My MM fees are the highest in regional areas where lower rental ranges are achieved
     
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  4. josh123

    josh123 Well-Known Member

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    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 Finance Strategist Business Plus Member

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    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

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    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

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    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 Well-Known Member

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    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
     
  9. saanch

    saanch New Member

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    Would you mind sharing the PM details?
     
  10. propinvest888

    propinvest888 Member

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    Hi Redom, where is this in Sydney?
     
  11. Redom

    Redom Finance Strategist Business Plus Member

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  12. Lilian

    Lilian Member

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    @Hedgy - mind i ask who are your PMs? thanks
     
  13. Xenia

    Xenia Best Adelaide Property Manager Business Member

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    I love cheap agents, we end up fixing the mess they create.
     
  14. Stoffo

    Stoffo Well-Known Member

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    Quoted 7.7% today
    Plus advertising, inspections, one weeks letting fee +gst, and and and :confused:
    So its 7.7% in their pocket and l pay for most other costs:eek:
    Clearly pays to shop around ;)

    (Nearly completed 2+2+2, south of syd)
     
  15. Tanya1335

    Tanya1335 Well-Known Member

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    Agree, I came across several larger agencies in QLD that are around the 12% with all fees are taken into consideration. This is getting out of control.
     
  16. Annaelsa

    Annaelsa Active Member

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    5.5% in Sydney, 8.8% regional NSW.
     
  17. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    8.8% in Canberra and Qbn but have seen as low as 5.5% plus $10 per property p.m (it's dependent on the number of properties you have to rent)

    Cheers

    Jamie
     
  18. Phill74

    Phill74 Member

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    5.5% in Inner West, excellent service
     
  19. Ben_j

    Ben_j Member

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    5% + GST eastern suburbs