Hi guys,
Looking at some insurance for my first IP, came across a company called EMB Insurance brokers which has a comprehensive landlord insurance package.
Just wondering if anybody has gone through them or heard anything about them?
Also meet a property manager today from one of the big agents, fees were as follows.
(once off) Marketing = $275 (includes, board, photos, internet x 5 sites, local paper etc)
(once off) Leasing fee = 5.5 % (based on $250 p/w rent) = $715 (then $ $130 if tenent continues each year)
(annual) Managament = 7.7% mounthly which is $83.39 (based on $250 p/w) + $3.30 statemnet feeIs this farily normal? I waq quite happy with the PM and the agency is the biggest and most pop in my area, or does this seem a little expensive?
Thanks
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Rental management fees vary from state to state. In Vic, it seems they like to charge around 7 to 8% for management. I havent paid any advertising fees (this may vary depending on area with no need in high demand areas). In NSW management seems to be around 7% (lower maybe because of higher rents?). No advertising fee here either. The leasing fee seems a bit high. Some try and charge 1 weeks rent, even that seems excessive to me.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I thought that there was a rental shortage! The hide for the agent to claim they require a signboard. Any more than a week's rent for the letting commission is also steep on a 6 month rental (2 weeks for a 12 month lease). I'll assume that the figures include 10% gst.
Will they reduce the cost for emailing the statement rather than postage?
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