All Topics / Help Needed! / Management Fees – what percentage?

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  • Profile photo of Quantum LeapQuantum Leap
    Participant
    @quantum-leap
    Join Date: 2004
    Post Count: 56
    November 23, 2006 - 12:46 pm

    Hi There,

    Quick question – wondering what the average market rate is on mangement fees for residential IP at the moment please?

    Rgs

    QL

    Profile photo of MITMIT
    Participant
    @millionaire-in-training
    Join Date: 2004
    Post Count: 154
    November 23, 2006 - 1:10 pm

    Anywhere between 6-10% depending on where your property is but I would expect 7-9% as the norm
    Sue

    MIT | Owen Real Estate
    Email Me

    Profile photo of Quantum LeapQuantum Leap
    Participant
    @quantum-leap
    Join Date: 2004
    Post Count: 56
    November 24, 2006 - 10:32 am

    Thanks Sue,

    Appreciate your response. I had been searching the forum for around 10 minutes or so without finding the answer – so much appreciated.

    Rgs

    QL

    Profile photo of XeniaXenia
    Member
    @xenia
    Join Date: 2002
    Post Count: 1,231
    November 24, 2006 - 1:51 pm

    Hi QL,

    The % of gross rental that managers charge really does not mean anything in the scheme of things. Some managers charge for inspections and drawing up leases, this may end up costing more than someone who’s fees are 1% higher.

    I know you are in QLD and I can’t really help out there but if you want a pm fee schedule to compare, please have a look on my website, we have made one available as a download PDF.

    Email me if you have trouble finding it and I would be happy to attach one for you just as a comparison.

    All the best [biggrin]

    Investment Property Management
    http://www.adprop.com.au

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