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Hi there,
Does anyone know what the average for property management fees would be for a small block of flats in Victoria? Nothing special about the property so no maintenance would be needed.
4% that sounds like a good deal! I'll try and see if someone can do that form me
4% that sounds like a good deal! I'll try and see if someone can do that form me
A new agent started in my area. They were charging 3% + GST. 12 months later they went bust and took all their landlords money with them. One of their larger clients was owed nearly $70,000 in rent.
PM is a business. If you charge 4 or 5% etc you need to manage more properties per Property Manager to make the same profit as someone that charges 6 or 7%. Some agents also suck you in on cheap fees then increase them after 12 months.
Ask how many properties they will be managing and choose if you want better service and results or lower ongoing tax deductable charges........