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last week I went to Port Douglas for a little R&R.Of coures I called into a few agents to get the feel of the place for investments.Prices are pretty high up that way but what shocked me was the management fee charged by one agent for managing holiday rentals. A whopping 50%. Yes you heard it right folks.50%!! Why buy the property and get to deal with all the maintenance costs, rates, insurance, interest rate hikes, replacement costs,etc when you can get half with no money down. Just thought I’d remind new investors of the importance of asking that little question about management fees.R.E.agent told me plenty were comfortable with that.I,m sure the RE agent is quite comfortable with it. I wonder how little properties he/she manages.
Do holiday rental generally come with higher management fees? I only have residential IP’s and feel that the management fee level is OK
RegardsT.
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