Leasing Fee/Re-Leasing Fee/Internet Marketing Fee

[JIT]

Hi there,

What are people paying for these particular fees to their property managers?

I've been quoted the following...

Leasing Fee: 3.3% + GST
Re-Leasing Fee: Nil
Internet Marketing Fee: $200 inc. GST

Thanks.

 

[Collector]

When you say leasing fee do you mean Management fee - if so that is very very cheap.

Managment fees for residential properties usually range between 5% and 8% + GST.

 

[Belu]

I am on 5%+GST and thought that was quite cheap!

 

[JIT]

I actually mean separate from the regular management fees.

My regular, ongoing monthly management fees are 5% + GST.

But all my PM's have had these other fees on as extras for initial leasing and re-leasing/advertising...

 

[Carl]

my agent in canberra charges 7.7% mgmt fee, 1/2 weeks rent for leasing fee and didnt charge me for advertising.

 

[buzzlightyear]

I am on 5%+GST and thought that was quite cheap!

Belu, out of interest, how many properties is your PM managing for you, for 5%?

 

[DavidMc]

Between 6.6 - 7.7% management fee.

2 weeks rent inital lease.

No internet marketing fee, no re-sign fee.

 

[JIT]

Between 6.6 - 7.7% management fee.

2 weeks rent inital lease.

No internet marketing fee, no re-sign fee.

Thanks.

I might have to re-negotiate my internet marketing fees.

My intial lease fees + internet marketing fees in total work out to about 2.5 weeks rent.

 

[Belu]

Belu, out of interest, how many properties is your PM managing for you, for 5%?

Just the one A good PM as well so far, no late payments.

 

[DavidMc]

I should add they do do a re.com.au rental ads for me too.

 

[MissMuffitt]

We have recently rented out our house in Gladstone. The RE we went with charge 1 weeks rent + GST as the letting fee and 8.8% management fee.

I find it funny that there is such a difference between Vic and QLD.

1 weeks rent + GST in QLD

straight 1 weeks rent in Vic.

What are the other states and territories like for this??

 

[alplant]

One week's rent plus GST here, no fee for renewing a lease with existing tenants. Management fee 6.5% plus GST. Posts and petties $4.50 + GST. Two properties.

 

[LearningMan]

I am thinking of managing IP's on my own. I am SICK and TIRED of dealing with careless managing agents.

I just visited IP which tenants departed. Agent told me everything was fine and that tenants had paid for cleaner.

I walked in on Tuesday I almost had a heart attack when I saw state of apartment.

Anyways ... anyone managing on their own ?

 

[JIT]

Thanks.

I might have to re-negotiate my internet marketing fees.

My intial lease fees + internet marketing fees in total work out to about 2.5 weeks rent.

Hi there,

Just an update, I re-negotiated my fees today with my current PM for 4 IP's in inner Melbourne...here's what I'm on now:

Management Fee: 5% + GST
Leasing Fee: 2.6% + GST (about 1.5 weeks rent)
Re-Leasing Fee: Nil
Internet Marketing Fee: Nil

(and $3 + GST statement fees or free by e-mail, with no other hidden extra costs)

Can anyone top this in Melbourne?

Thanks.

 

[Belu]

That is pretty much what I am on(5.5% inc GST mgmt fee, no marketing fee) except 1 weeks leasing fee and not sure on re-leasing.

 

[McBrain]

JIT

I am on 6.6% Management Fee (2 IPs)
2.2% Leasing Fee
Internet marketing went up to $225 +GST + $30 credit searches
$3.50 statement fee.

This is with JC (inner suburbs). Who is your agent?

Cheers
Nick

 

[Belu]

mine is with Raine and Horne in Glenroy.

 

[Sheva10]

I have a Melbourne CBD studio apartment and the initial fee was $478 which included GST (I think that's about 1.5 weeks rent) and after that it's 5.5% ongoing fee.

 

[BeYourOwnAgent]

With my old agency in Canberra, we charged

8.8% management fee
10 day letting fee
$8 sundry fee
Half week re-letting fee