Management fee's..?

[powerranger]

Hi all,

Whats the going rate for Property Management fee's in Melbourne? Are fee's dependant on property location?

Can anyone recommend some PM's or even better, some to stay away from?

 

[Elmer Liu]

I think it's about 5% if you are talking about the west.. I have a IP in Elwood and they charge me 6.6% for it..

 

[D.T.]

Hi all,

Whats the going rate for Property Management fee's in Melbourne? Are fee's dependant on property location?

Can anyone recommend some PM's or even better, some to stay away from?

Samantha from Qura posts on here as "Lil Skater", why don't you give her a buzz and see if she can sort ya?

 

[dex]

Anywhere between 4.4% - 6.6% with one week letting fee.

 

[powerranger]

Samantha from Qura posts on here as "Lil Skater", why don't you give her a buzz and see if she can sort ya?

Will do, thanks DT.


Property is located in Ascot vale. 7% with 1.5 weeks letting fee is what I have currently been offered. Bit steep!

 

[Jamie_]

What's the properties rental value?

 

[powerranger]

Approx 320pw.

 

[D.T.]

So we're talking about $3 per week difference in fees?

Only takes 3 weeks better vacancy rating and you've paid a year's worth of management - aren't you better off finding a good one?

 

[Jamie_]

So we're talking about $3 per week difference in fees?

Only takes 3 weeks better vacancy rating and you've paid a year's worth of management - aren't you better off finding a good one?

Exactly my point, to say something is "steep" when there is $3 per week is quite funny/sad.

 

[powerranger]

3 bux extra a week letting fee isn't the big deal... It's the percentage I'm looking at. Why pay 7% when I can probably pay 5%.

 

[Jamie_]

Go with the 5% agent and post back in 6 months time on how it's all going.
You get what you pay for.

 

[Xenia IM]

4-11 percent management fees
1-2 weeks letting fee
Any other fees
It depends on agency and services provided.

The 4-5 percent agents take on more properties as more required to cover a pm salary. Service could be diminished as a result.