Low Management Fee

Not that the Management fee itself is everything (a professional service counts) I see there's now a group offering the following Property Management Fee (incl GST) in the below areas:

Sydney - 5.5%
Melbourne - 5.5%
Brisbane - 5.5%
Perth - 5.5%

* Standard property management terms and conditions apply
 
Not that the Management fee itself is everything (a professional service counts) I see there's now a group offering the following Property Management Fee (incl GST) in the below areas:

Sydney - 5.5%
Melbourne - 5.5%
Brisbane - 5.5%
Perth - 5.5%

* Standard property management terms and conditions apply

which group is this?
 
That's hardly 'cheap'....quite standard in Melbourne....

That would be super cheap in Darwin...insanely cheap ;). There is a company in Darwin offering 6.6% management fee - as far as I know they are the only ones up here doing it. Because of this price they picked up a lot of rental property very quickly.
 
why are we always caught up on what management fees we are being charged my cheapest management fee is 1.75% and I make from this client as my highest management fees of 8.3%
 
5.5% is fairly normal for Melbourne outskirts but I believe it to be a bit higher in the city? I could tell you several who would do management fees at 5.5% in my area.

I'd be interested to know who is offering this elsewhere though - sounds as though (from what I have read on this forum) they are going quite cheap in other areas!!
 
The inveitable backwash from these low and lower (?) rates, are more threads about how poor their PM is in managing their IP(s).

Be careful what you wish for.
 
It could go the other way too Buzz - the good PM's might have to start reducing their fees to get people to come across to their agency :) win - win!!
 
From my experience with these types of agencies, you just have to be aware of what fees they charge on top of this for routine inspections, lease renewals/rent reviews. I did a comparison late last year with some of the lower percentage agencies and one agency's rate came in at just over 11% after taking into account all of their additional charges...
 
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