Hi Stanners77

I also have an IP in St Kilda, a 3br house which is rented for $450 per week. I use an agent based in Elwood and their fees are:

Letting fee: 1.5 weeks rental + GST
Management fee 7% of rental + GST
Advertising costs: approx $250

Apart from a couple of other minor fees these are the main costs. I have to admit i did not do my research with letting agents (aside from asking a few friends what fees they pay). I used this agency as a buyers agency to purchase the property (i’m based in the uk) and was very happy with them so have continued to use them to manage the property. Would rather do it myself but not an option just now. They seem efficient and organised though so it works well.

Smerf77