I'm thinking of buying my first investment property in Sydney. Can anyone tell me what I will be up for in the way of agency fees as well as any other fees that might be incurred?
Generally around 8% of the rent as a management fee and probably 1 weeks rent when finding a tenant.
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
Tks Terry! Is that fee payable each time the property becomes vacant?
Generally yes (unless the tenant vacates prior to the lease expiry and has to pay to find a replacement).
actually its cheaper in Sydney for a single property its between 5-6% plus GST if you have 2 properties its around 4% plus GST
usually 1 week rent letting fee, you can get re-letting fee there after for half a weeks rent..
Sydney is one of the cheapest in the country for residential property management
I think Canberra is the most expensive its 10-11% plus GST!!
I paid 7.7% management fee in Newcastle
Canberra is the most expensive among all other places I think. One of my friend pays 6% management fee in Sydney. Sydney is one of the chipest management fee area as far as I know.
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