Management fee so high in Brisbane?
- Thread starter kennyboi
- Start date
Don't Qld agents still work on a scale of fees?
How does the 8% compare against the 4.4% ie is 8% of $500/wk more than the 4.4% of your $1200/wk? Same amount of work.
How does the 8% compare against the 4.4% ie is 8% of $500/wk more than the 4.4% of your $1200/wk? Same amount of work.
Unless it's a really big apartment or a house, $1200 pw anywhere in Sydney is very expensive
Unless it's a really big apartment or a house, $1200 pw anywhere in Sydney is very expensive
You don't get out much EN710, barely gets anything half reasonable on this side of the harbour or near town.
Which side lol? Has the market moved that far?? Either way, I can only afford $500-$700pw apartment so only ever rent around Crows nest and Chatswood, nothing 'Harbour' ish
Plenty like these (and more expensive) around: http://www.realestate.com.au/property-house-nsw-chatswood-414078987
http://www.realestate.com.au/property-house-nsw-chatswood-405074883
http://www.realestate.com.au/property-house-nsw-greenwich-414189875
http://www.realestate.com.au/property-house-nsw-wollstonecraft-414034383
http://www.realestate.com.au/property-house-nsw-chatswood-405074883
http://www.realestate.com.au/property-house-nsw-greenwich-414189875
http://www.realestate.com.au/property-house-nsw-wollstonecraft-414034383
.... Only need an apartment, no wonder I have never seen those. But OP said inner west though, and I assume mid-market property? Unless he's talking about inner west from Bondi.
Unless it's a really big apartment or a house, $1200 pw anywhere in Sydney is very expensive
Don't know where you get 1200/wk from. I only get 520/wk in inner-west Sydney (unit). Prospect in Brisbane get roughly 400/wk.
The minimum amount is Queensland you can charge is 5% + GST. But you get what you pay for. What is or isn't included in your 4.4%?
What is or isn't included in your 8% quotes?
There actually isn't an awful lot in it for agency even at 8%. ever worked out the running costs for an office? Just like all tenants seem to think landlords are wealthy capitalists... It seems as though all landlords seem to think agencies are just the same. At the end of the day both landlords and agencies are running a business..
A decent PM in Brisbane with experience who won't leave in 9 months will bring $65kpa + these days.
What is or isn't included in your 8% quotes?
There actually isn't an awful lot in it for agency even at 8%. ever worked out the running costs for an office? Just like all tenants seem to think landlords are wealthy capitalists... It seems as though all landlords seem to think agencies are just the same. At the end of the day both landlords and agencies are running a business..
A decent PM in Brisbane with experience who won't leave in 9 months will bring $65kpa + these days.
I wish WA was at 8%
What's the % in Perth?
8.5% + gst + numerous other charges. Maybe 11-12% all up?
Was considering them, for rental about the low $300, they're on par in terms of cost with other agents I talked to, minus the hassles of adding things up (yes, that letting fees, admin fees etc). Cost wise i think they're very appealing when you have $400+ per week property.
I see a lot of different agent stmts and I am sometimes surprised by the little extra charges that some creep on top of the fee:
- A fee for fortnightly banking to client (Banking fee). For a free EFT transfer ?
- An annual stmt charge $33-$100 - And I have some tight **** clients who opt out and then expect me to add up 12 stmts and each category of cost...They pay the $100 to me then !!
- Monthly sundries (with our without postage)
- Postage charge $3-$8pm
- A % charge on top of third party payments eg repairs (One was 20%)
- A fee for NOT using the agent for all strata payments - Guess who managed the strata ?
- A fee for inspections
- Lease prep fee from $100-$550
- Fee to attend Tribunal / hearing
- Fee for holding an open home for prospective tenants (that one I recall also charged a lease prep fee of the first weeks rent.)
The ones with all the extras tend to be the cheaper ones. The McGraths of the world charge top shelf and don't add extras.
Surprising few agents email stmts. Most post. The software doesn't seem to come from too many providers and is fairly poor. eg : GST on agent fees is often a separate line item - A issue that is irrelevant for resi rents.
The most common is the sundries...$5avg. For a PM with 300 rentals that's $18K a year on top of the regular fees.
Hi Kennyboi - 4.4% is cheap for Sydney these days. Either the area is very competative or your agent is new. I am based in the Hills District & I charge 7.7% and $5.5/mth admin fee (includes GST). No other fees apply unless I find you a new tenant then its 1 weeks rent + GST + $16.50 for the paperwork. I like to keep it simple.
I use them and I'm getting $500+ for my property so I'm probably ahead. Can't say I've had any real issues so far but it's still early days.
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