Hi all. New to the forums and have read a lot and just asking for some help from people who have experience.
I am looking for an someone to rent out a property which I just bought and to be settled in 1 months time. Location is Nunawading VIC. I was thinking of getting the agent whom I bought the property off to help me rent out and below are their fees. As I do not have much experience with renting out, would someone kindly tell me whether these fees are fair? Or should the fees be lower/higher?
Thanks in advance.
Management Fee
Residential 7.7% of average monthly rental (inc. G.S.T)
Letting Fee
Residential 4.4% of annual rental (inc. G.S.T)
Marketing/Advertising Package $495.00 (inc. GST)
Inclusive of:
Internet listing on 4 websites
Noel Jones ‘For Lease’ board with a minimum of 2 pointer boards
Preparation of copywriting for all advertising material
In house photography of the premises for advertising purposes
Inspections of rental property
Negotiation and preparation of a lease renewal to existing tenants
Other incidentals charged as they occur:
Key cutting As incurred
Year end financial report No charge
Statement Fee $5.50 (inc. G.S.T)
Credit Checks (access to 2 databases) $15.00 (inc. G.S.T)
Photographs for condition report No charge
Tribunal Application Fee $35.20 (inc. G.S.T)
Professional Photography for advertising $105.00 (inc. G.S.T)
Colour Floorplan $97.50 (inc. G.S.T)
Project Management By negotiation
I am looking for an someone to rent out a property which I just bought and to be settled in 1 months time. Location is Nunawading VIC. I was thinking of getting the agent whom I bought the property off to help me rent out and below are their fees. As I do not have much experience with renting out, would someone kindly tell me whether these fees are fair? Or should the fees be lower/higher?
Thanks in advance.
Management Fee
Residential 7.7% of average monthly rental (inc. G.S.T)
Letting Fee
Residential 4.4% of annual rental (inc. G.S.T)
Marketing/Advertising Package $495.00 (inc. GST)
Inclusive of:
Internet listing on 4 websites
Noel Jones ‘For Lease’ board with a minimum of 2 pointer boards
Preparation of copywriting for all advertising material
In house photography of the premises for advertising purposes
Inspections of rental property
Negotiation and preparation of a lease renewal to existing tenants
Other incidentals charged as they occur:
Key cutting As incurred
Year end financial report No charge
Statement Fee $5.50 (inc. G.S.T)
Credit Checks (access to 2 databases) $15.00 (inc. G.S.T)
Photographs for condition report No charge
Tribunal Application Fee $35.20 (inc. G.S.T)
Professional Photography for advertising $105.00 (inc. G.S.T)
Colour Floorplan $97.50 (inc. G.S.T)
Project Management By negotiation