Hi invester in WA,
I am in the process of purchasing a commercial property for my first time in WA.
I have a quote of 8% management fee from a real estate agent . In Qeensland , i can get 4% plus GST . I would like to find out from other investor in WA, how much you are paying ? to be frank , 8% is biting into my investment yield with pains. Anyone sharing his experience with me will be much appreciated.
cheers,
Nickelben
from Queensland.I have an investment property in Geraldton, WA where property managers in the area were all offering 9% fees plus GST. Maybe Im getting ripped off?[angry2]
Hi millionaremagne,
Thanks for your response , your IP is commercial or residential ?
In Queesland , management fee for residential is 7.5% and commercial is 5%, negotiatable.
I got the same feeling like you , being ripped off. I got a cheaper quote from another agent 7% . This is abnormal compared to queensland .
Just wondering if every investor in WA are paying same rate to the agent for commercial property ? [confused2]
Waiting for more response,
NickelBen
QueenslandI’m paying under 7% for residential in WA, which makes your quote for commercial sound high given what you say about QLD. I can’t claim to be an expert on commercial property though.
paying 8.5% up to 9.25% incl GST on various IP’s
Is it a RIP off..yes
I’ve posted the additional costs as well hereon the forum before, if you do a search you’ll get the thread, plus comments from other Investors
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAgents in WA think they are gods gift. When deregulation hit the west, the west unlike the rest of the country put their prices up thinking they offered superior service. Give me a break.
Due to the inflexible nature of the holier than thou agents there we have this year sold both of our investment properties and now hold nothing in this wonderful state due to these agents and their head in the sand approach.
As this problem is more and more brought to light, there will slowly be changes. Watch the paint drying, its faster!!
The worrying thing about WA agents is that they then have the gall to charge extra for everything. $66.00 for an initial inspection, $45.00 for a qtrly inspection, no mid month payments as their 1984 coal powered dos program would die if it tried, charge you an additional fee to draw a cheque mid month if you insist(no DD of course, thats too modern), and the icing on the cake is when they add an additional 2.5% on top of any maintainance invoice and they have arranged the tradesman.
WA for investing……..not this little black duck!!![thumbsdownanim
Another question, where in Qld are you getting the low rates for management?
DD[happy3]
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!DD
Whilst looking at PM,s here I had one tell me they charge $2.50 for any photo’s they take, I asked if they had thought about using digital cameras and e-mail
On the e-mail scene I had a REAthat used PM1 PM2 PM3 as their e-mails, so if they changed PM’s the e-mails didn’t..
However, in saying all that I’m happy with the majority of our PM’s..one REA however is churning them, we’re getting a new one every couple of Months..prior to that we had an outstanding one..she left to become a legal secretary
Trying Dazzlings trick to see if the post looks better?[wacko]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi DD,
I got the management fee rates in Toowoomba and Brisbane. I have not idea if small town in remote area………other part of QLD.All guys, thanks !
Nickelbenspeaking of QLD did you see this article?
http://townsvillebulletin.news.com.au/common/story_page/0,7034,17662002%255E14787,00.html
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorAlways happy to read good news Redwing.
Main thing I find in dealing with agents in WA id their inflexible “our way or the highway” aproach where a principle, rather than upgrade some computers and train staff(customer service training wouldnt hurt either), would prefer a new BM softtop for themselves.
The PM with the emails is admitting to poor staff retention so that would send warning bells through me and finally, get them to lease a digi camera and PC so its all 100% tax deductible for them and they actualy have something modern and professional.
Good Luck
DD[snitch]
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
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