What is your % rental IP Management Fee in Melbourne & Brisbane?

hi,
I'd be keen to know what you are paying for your RE PM to manage your property in Melbourne or Brisbane?

To kick things of my 4/2/2 house in Brisbane has a 7.7% management fee.

 

Between 5.5 and 8.8% in Brisbane

 

I am paying 8.8% on my brissy properties but rate is not an issue for me,it's quality of service from my property manager that I look for..

 

5% in melb, 7.5% bris for ours

 

7.7% in Bendigo.. not really melb tho

 

8.5% in Brisbane

 

5.5% across 4 IPs in Melbourne.

 

7.15% Brisbane.
1/2 week rent letting fees, no lease renewal fees.

 

Wow. Well done.

I couldn't find much under 8% and chose 8.5% since they're good PM's.

 

Ask not what their fees are, but if they are worth it. There are some very cheap PMs that give a very cheap service, but don't be mislead to think that the fees alone will determine the service you get.

I've got fees ranging from 5% to 9.5% across the Country. My cheapest PM is also my best PM, but I'm on a special deal with that one for a variety of reasons. I would pay this PM double, if I had to. Thankfully I don't have to.

 

6.6% inc GST for Melbourne. Given the issues I had with my previous PM, I'd pay more

As the old saying goes, price is what you pay, value is what you get.

 

It's funny how many people complain about PMs yet still use price as their first criteria.

It's sorta the same as talking about interest rates on a loan; services, serviceability, structure, strategy etc come first.

 

I got quite a few properties with them which is the reason for the discounted rates.
The 1/2 week letting fee is nice compared to full week, whenever a new tenant is needed once in a while.

 

I always ask the price, and I am usually successful in getting the fees to a level that I want. As a Business owner, you need to look at your bottom line, and keep expenses to a minimum. BUT in saying that, the price isn't the only thing I'm looking for. Like I said in a previous post, my cheapest PM is my best one, and if she asked for more, then I'd rather pay it than go to anyone else. I want a Property Manager, not just a rent collector.

In all of this though, I think that a decent PM should be able to do a decent job without the fees being excessive. If they are any good at their job, then most of the tenants they put into a property should be almost set & forget with little to do each month other than to maybe pay a bill or two and transfer the rent, less fees. Of course, I did say MOST, and I am very aware that sometimes good tenants turn bad, and there is more work to be done in this instance, just as I'm aware that even with good tenants, inspections have to be done, and maintenance attended to when needed.

 

To put it into perspective, a difference of 1% management fees on a property that leases at $350 per week equates to just $182 for the whole year. Rate is important but so are terms. For instance, let's say you'd haggled rate down but were paying say 1.5weeks rent plus gst for re-tentanting. Ouch. At $577.50 that'd hurt. Or let's say your property manager wasn't overly proactive in holding open for inspections when your property was seeking new tenants. Each week vacant costs you another week's lost rent.

 

5% （including rent collection and management，no inspection fee）but I'm looking for a new PM who does rental only. I am in brisbane.

 

Hi there, who did you chose in the end? Are you happy with them?

 

8.8% for a couple of central coast properties. The rate is all up, nothing extra to pay. I'm very happy with the Pm.

 

Central coast of Brisbane or central coast of Melbourne?