Hi everyone,
I have a good idea of the ranges of residential property management fees, but not really any idea about commercial management fees.
I have heard that they are "usually" less than for residential, but I know "usually" generally means there a lot of exceptions.
And there are no doubt a number of factors: single/multiple tenancies, how good the tenants are to work with, whether a lot of maintenance is going to be required, etc.What sort of range of management fees would you find acceptable for managing a single commercial property with a good tenant in a no-fuss property that doesn't need much maintenance at all?
Thanks.
Hello happyjack72
I pay 10% letting fee and 4% management fee for a single tenant warehouse/office property.
Since commercial leases are much longer than residential leases, the agent charges a much higher commission for letting but a lower management fee.
I don't know if they have different rates for different types of commercial properties.( i.e retail, office or industrial).The easiest way for you to find out the going rates and if there is a difference between classes of commercial properties is to just ring a couple of commercial REAs in your area and ask.
Cheers
Elka
You must be logged in to reply to this topic. If you don't have an account, you can register here.
