Break fees prior to letting?

[Toon]

What kind of fees should I expect a PM to charge if I choose to go with a private tenant and self manage instead of going with one of their prospective tenants? They've had it listed for about 3wks, on Domain & Realestate.com.au and listed it as a one line text only listing in their regular agency newspaper ads. They've probably taken no more than 8 people through.

 

[Rixter]

Toon, why dont you do as I do if Im taking vacant possession at settlement. Give the keys to 3 or 4 PM's with the understanding of who ever finds a tenant suitable to me first get the management rights.

Works a treat and triples your marketing exposure.


Hope this helps.

 

[Xenia]

If you take back management of the property within the marketing period that is in your contract they can hold you to the full fees for the term of the contract. That includes all letting and management fees.

That dosen't mean they would but they could!

If the agent has a sole agency agreement signed with you you cannot do as suggested above.

 

[Toon]

Thanks Rixter & Xenia, I did sign an exclusive agreement, but I wasn't expecting to get an offer from outside at the time.