PM Fees NSW

Being from the wild west where seemingly we pay higher fees than on the east coast, I need some input as to whether the following fees for a NSW house & flat set-up would be considered reasonable:

7.7% on gross rent
2 weeks rent letting fee for 12mth lease (1 week for 6mths)
$5.50 monthly admin fee
5% on invoice of repairs, refurb, etc where organised by PM

Total fee is about 12%

Thanks!
 
Being from the wild west where seemingly we pay higher fees than on the east coast, I need some input as to whether the following fees for a NSW house & flat set-up would be considered reasonable:

7.7% on gross rent
2 weeks rent letting fee for 12mth lease (1 week for 6mths)
$5.50 monthly admin fee
5% on invoice of repairs, refurb, etc where organised by PM

Total fee is about 12%

Thanks!

I think 7.7% is about average, although I pay 5.5% on most of mine. I only pay one week let fee regardless of how long the lease is and I pay NOTHING for invoicing of repairs. As for the monthly admin fee between $2.50-$3.50, depending on PM.
 
Definately look elsewhere if they insist on this charge. Haven't heard of this before.

Regards
Marty

I have.

My BIL has one IP located near many of ours. He knows that we have property in the area, yet did not ask who we use as a PM. They handed over management to the agent that sold them the property and are still with them years later.

I can't remember all the charges that this agency has, but I recall something along the lines of a 5% charge for paying of bills, which included rates, etc. They also have a higher than average management fee. I know, too, that they are not proactive at keeping tenants near market rents as he told me the other day that his tenant is paying a similar rent to the ones in the less expensive areas, despite their IP being in a more expensive one.
 
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