What's a typical good management fee in Melb?

Just bought my first IP in Melbourne and it's currently already tenanted so pretty straightforward. The property's in Fawkner and I prefer to have someone close by manage it.

Currently managed by Nelson Alexander in Coburg and they've offered me 5.5% inc gst if I let them keep managing it. So far that's the lowest offer I've come across, but I haven't begun asking the independent offices.

In Sydney I'm used to paying 4.4% - 4.5% inc gst (actual figures of what I'm paying) and service I find is as good as any, but the prices I've been getting from asking around Melbourne agents is around 6-7%.

Anyway, I want to hear from you guys, what's a typically 'good' rate for management in Melb? and any recommendations of agents for Fawkner area?
 
Just bought my first IP in Melbourne and it's currently already tenanted so pretty straightforward. The property's in Fawkner and I prefer to have someone close by manage it.

Currently managed by Nelson Alexander in Coburg and they've offered me 5.5% inc gst if I let them keep managing it. So far that's the lowest offer I've come across, but I haven't begun asking the independent offices.

In Sydney I'm used to paying 4.4% - 4.5% inc gst (actual figures of what I'm paying) and service I find is as good as any, but the prices I've been getting from asking around Melbourne agents is around 6-7%.

Anyway, I want to hear from you guys, what's a typically 'good' rate for management in Melb? and any recommendations of agents for Fawkner area?

If you have met with the current agent and are happy with what they have to offer be very careful changing over to an unknown entity for the sake of 1% which on a $400pw property is only around $200 per year, a bad agent will cost you 10 times that every year in all sorts of ways let alone the stress.
 
The thread title says it. "Good management fee". It's worth paying a little extra for the good.

In Canberra I'm used to paying 7% plus GST. I'm happy with the quality of management. There are people who charge more.
 
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