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Yes, I agree that I should have looked at the management agreement in more detail, but I interpreted this as the fee in the event the PM organises a more major work like renovation, not day to day minor repairs that is expected from usual property management. Still I don't have an excuse, but...

Hi, My first IP is a unit in Randwick area in Sydney. I am using a real estate agent as PM who charges 6.6% management fee monthly (discounted from 7.7%). They also charge $9 per month admin fee, extra standard charges related to letting fee/re-letting fee, advertising fee, tenancy database...