Negotiating with agencies -- letting fees, up-front rent payments etc.

Wow, this is a really useful thread.

What do people think about this PM's fees? anything that i shld negotiate?

Effective First Leasing 1 Week Rent + 10% GST
Subsequent Leasing 1/2 Week Rent + 10% GST
Management Fee 7.7%
Tenancy Preparation Fee $18.00
Office Expenses $5.00 p/m

Thanks!

tdh78au said:

That's precisely my thinking ... not to pay any letting fees since it's got an existing tenant & lease in place.

Click to expand...

OK, so looks like people have been negotiating to have the letting renewal fee waived? Would I be paying 1/2 a week's rent given the fee schedule that I posted 1 post above? Should I try to waive it?

Gracie,
It seems as though your PM has charged separately for a tenancy preparation, so 1/2 weeks letting fee still seems a bit rich if you have found and vetted the tenants for them. However, they will still need to prepare the condition and/or inventory report which is a few hours work, so I would be surprised if they waive it completely. They may negotiate an hourly rate or a fee for service for you though. My PM offers a separate service for self managers i.e. they will do one off jobs for people who self manage their properties. Your PM might offer something similar.