Hi everyone.
I'm (hopefully) just about to purchase my first IP.
But now I need to look at getting a PM sorted. There is already one managing the property (yes, it's already an IP), but before I decide whether to keep the current PM, or try and find a new one, what are some of the things I need to consider?
Mainly:
(a) what type of fees should I be paying (should it be a % of the rent, or a set $ fee)?
(b) how much should I actually be paying (%-wise or $-wise per week) - what is normal/standard?
(c) what are the types of services that I should really be looking for (and what is just 'fluff', designed to increase their fees, but really isn't necessary)?
TIA
KayTea
I'm (hopefully) just about to purchase my first IP.
But now I need to look at getting a PM sorted. There is already one managing the property (yes, it's already an IP), but before I decide whether to keep the current PM, or try and find a new one, what are some of the things I need to consider?
Mainly:
(a) what type of fees should I be paying (should it be a % of the rent, or a set $ fee)?
(b) how much should I actually be paying (%-wise or $-wise per week) - what is normal/standard?
(c) what are the types of services that I should really be looking for (and what is just 'fluff', designed to increase their fees, but really isn't necessary)?
TIA
KayTea