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Hi Skater, I would gladly give to a PM if he / she costs only 5%. Unfortunately, they cost approx 15%. Or i might hv to look around for a better PM :). A PM appraised my IP for $235 rent. I could get $270 rent and save 15% on the management bit, i thought it's better to self manage and the...

PMs cost more Valid point Nikolina. The agents actually cost approx 15%-18% of the rent if you include the letting fees, maintenance cost, courier charges etc. It's a lot of money in my pocket :). My maintenance cost while I am self managing is only 3% of the rent as compared to 7% when a PM...

Spot on... I am in the same boat, if the current tenants left, i would end up spending couple of hundred dollars painting and repairing.

The next door 'poor bugger' is renting his house for $250 with no water usage charges. Did not let me increase my rent :)

The PM appraised the property for $235 rent giving reasons like, its on the main road, old building, no central air con etc. etc. The next door is available for $250 and I am renting for $270 pw. The tenants also pay all water usage. So we are charging market rate / above market rate. My...

Thanks a lot for all the replies. The tenants actually got the very next door house for $250 PW. Still they prefer to stay in my IP. So I guess I am charging market rent or even higher. I guess one reason the preferred to continue was because they like dealing with me (thanks Rob :) ) and...

I self manage my properties. The lease on one of IPs had finished and the tenants agreed to renew the lease for another 12 months at the same rent of $270 PW + water usage charges. Looking at their track record of always paying the rent 2 days before its due and a very low maintenance...