Finding a Property Manager

[Daredevil]

Hi Guys

I just purchased my first investment property and went on having a chat with different PMs, there is so much difference between the quotes, commission varies from 5%-9% (plus GST) based on the quotations i got so far and even withing the same agent there are different options.
So is it worth paying like 9% to get options like

Arrange Landlord Insurance
GUARANTEED RENTAL
Regular review of rental return
etc.. etc..

Do you think is it worthwhile to pay for those services or just pick a 6-7% without these services. Also how the GST calculated on these payments (like you take 8% of the rent and then take another 10% of that amount)

 

[Lil Skater]

Don't pick based on price, meet who will be managing your property and if you feel comfortable with them - go with that.

There's far more to consider than fees/inclusions.

Regarding the more expensive one, I'd be asking about what insurance provider they use and go check the PDS yourself. You want to make sure you're covered for the most common occuranceses - rent arrears, accidental damage, malicious damage etc.

Guaranteed rental? They cover arrears?

Regular rent reviews should be a part of every PM's service.

GST is usually quoted as included, ie. 7.7% 9.9% or whatever it may be.

In regards to the different pricing structures within the one agency, many will have a cheaper management fee, but have significant charges on top. You've got to weigh up what service you want provided and choose the package that suits you.

 

[Daredevil]

Don't pick based on price, meet who will be managing your property and if you feel comfortable with them - go with that.

There's far more to consider than fees/inclusions.

Regarding the more expensive one, I'd be asking about what insurance provider they use and go check the PDS yourself. You want to make sure you're covered for the most common occuranceses - rent arrears, accidental damage, malicious damage etc.

Guaranteed rental? They cover arrears?

Regular rent reviews should be a part of every PM's service.

GST is usually quoted as included, ie. 7.7% 9.9% or whatever it may be.

In regards to the different pricing structures within the one agency, many will have a cheaper management fee, but have significant charges on top. You've got to weigh up what service you want provided and choose the package that suits you.

Thanks for the info, I am meeting them next week to discuss, I will make sure I keep these in my mind

 

[dragun]

Where is your property Daredevil?