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Thanks Biggles & skater,
just checked the PAMD & it's $55 for a 'negotiation/renewal fee'
Could someone explain why a re-let fee shouldn't be charged
Before you answer here is my arguement for charging one. The current tenant you have, lease is expiring which in most cases turns into a month X month tenancy should no party object, so now the agent (on top of managing, chasing rent etc etc) needs to sit down with the tenant and nut out a new lease.
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Oh, don't worry, I'll tell you.Could someone explain why a re-let fee shouldn't be charged
As Wylie said, it does not take all that long. That is part of managing, my friend.Before you answer here is my arguement for charging one. The current tenant you have, lease is expiring which in most cases turns into a month X month tenancy should no party object, so now the agent (on top of managing, chasing rent etc etc) needs to sit down with the tenant and nut out a new lease.
Give me a break. Just because something is taxdeductible does not mean it is fair and reasonable to charge it.Further more you want to increase in the rent a full year term (or in the case of commercial longer) however once again don't wish to pay the agent a fee to secure the tenant for another term even though the fee is tax deductable in most cases. Is it just me or is this madness.
I understand that some agents charge an arm and a leg and they shouldn't but is it unfair to charge a "reasonable" fee?
our charge is capped at $220 and for the work involved sometimes this is not enough
Could someone explain why a re-let fee shouldn't be charged
We do charge a let fee when placing new tenants as we drive out to the property, show tenants through, do the condition report and so on and therefore believe a let fee here is justified.
Sorry, I do agree with that. When I said the management fee should cover it all, I didn't mean the initially letting of the property. I appreciate there is a lot of work involved in letting the property out to new tenants and advertising etc. Especially if the property is vacant, the PM isn't even generating a management fee at that point.