Management fee Brisbane

[Gateway]

Just bought a unit in Brisbane South . What is the general management fee charged by reputed REA in the area? Cheers

 

[Nattl3s]

I pay 8% incl GST and 1 week letting fee Brisbane Northside.
Cheers, nat

 

[superAndrew]

8.25% + 1 week letting fee is the market rate.

Cheers

Andrew

 

[mumbai]

I see lot of other fees apart from just that management fees.
Inspection, lease renewal, vacate, EOF year statement, etc!
Lot expensive than Sydney

 

[UrbanPlanner]

We pay 7% plus GST, plus 1 week letting fee for our place through Coronis - northside

 

[Andrew_A]

I would say most common rate you will encounter would be 8% + GST + 1 wk let as main fees; in Brisbane City Council areas. No problem finding a whole range of fees however, some people really want the 5% base rate and that can be achieved.

One thing that surprised me about property management initially (as a business owner) was how fiercely price sensitive people are, obviously it's viewed very much as a commodity in that regard and hence price is the most important factor. However having said that the expectation from a service point of view is considerable.. so you have this disconnect.

Investors tend to ask ... who is the best? when it comes to depreciation, building inspections etc, however when it comes to management it's... who is the cheapest. Conveyancing is another service that tends to get viewed as a commodity as well for some reason.

I suspect the main reason Sydney/Melb can manage 5% base rates is the higher average rents across a portfolio, however the average rents idea wouldn't explain what they manage to charge with fees in Western Australia