This is my first post and I would appreciate feed back on what is acceptable commission and fees charged by a manager.
I have an I.P. townhouse on the gold coast. The rent is $240 per week and it is in the hands of the complex manager. The management rights has been bought by another couple, the letting commission is the same 7.5% plus GST, admin $5 per month plus GST, however where the previous manager charged a weeks rent for a new tenant the new manager also now going charged 50% for renewel of a lease – is this normal?
Many thanks
Power
It is normal for an agent to charge a lease renewal fee. After all they are doing work and documenting things for you..
Having said that how much should they charge and what is fair?
I know we ( http://www.rentingmelbourne.com.au )charge $100 as a fixed fee. I know other agents charge more and some less.
It is of course in your interest to have the lease renewed.
While fees are important, its more important to get a high level of service – make sure you get it.
And remember…everything is negotiable.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
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FREE subscription http://www.metropole.com.auThanks for the reply
Power
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