I have recently purchased my 1st investment property in South Brisbane. As I have no time to look after it myself I decided to get a property manager. What would you class as fair costs associated with this? The one that was recommended to me charges a 5% rent collection commission, 3% management fee, $55 rental negotiation fee, $25 annual bank fees, $5.50 monthly postage (of what I am not sure) and a letting commission of the 1st weeks rent. He has also set it up a continuing appointment to 2025 with 90 days notice to break the contract. Is this normal?
I’m confused, what is the difference between a rent collection fee and a management fee?
Is it a % of gross weekly rent?If you want email me [email protected] and I would be happy to attach our fee schedule (I don’t manage properties in Brisbane) but just to compare with what you have there.
Investment Property Management
http://www.adprop.com.auIn the Real Estate Institute of Queensland’s ‘Property Management Agreement’ form it is split into Rent collection commission and a management fee. So you could say that the overall fee is 8% of the weekly rent.
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