All Topics / Help Needed! / Real Estate commission on rentals

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  • Profile photo of TarynTaryn
    Member
    @taryn
    Join Date: 2009
    Post Count: 2
    November 30, 2009 - 5:02 am

    Hi,

    I'm just looking to rent my house out through a real estate agent and am wondering what is an acceptable commission for them to be charging?  The one I'm looking at going through is wanting 8.8%.

    Thanks for your time,
    Cheers
    Taryn

    Profile photo of DWolfeDWolfe
    Participant
    @dwolfe
    Join Date: 2009
    Post Count: 1,253
    November 30, 2009 - 5:14 am

    I thought most of them were around 7.7. Is there much competition in the area or are the inspection fees, letting fees heaps cheaper than other PMs? If you really like them get some comparison rates and try and get them to match them. I wouldn't go too crazy trying to negotiate on price because you want to have a reasonably good relationship with them so they look after you and your property.

    D

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
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    Profile photo of BennyteeBennytee
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    @ten_burner
    Join Date: 2006
    Post Count: 243
    November 30, 2009 - 7:30 am

    Hi Tayrn it depend on where your property is

    sydney is around 5-6 %                                 
    Canberra is the highest I believe 10-11%
    hobart 8-9%  

    the more properties you have with any  one agency the more dicount you should get should Im getting 4% in Sydney at the moment                                                

    Profile photo of TarynTaryn
    Member
    @taryn
    Join Date: 2009
    Post Count: 2
    November 30, 2009 - 7:36 am

    I'm in regional Victoria. Only one property.

    4% sounds pretty amazing.

    Went through a different agent two years ago and got about 7% (moved back into the house myself and leaving again now), but refuse to go through them again because of issues I had. So think maybe for the sake of hopefully be happy with the agent, I'll wear the difference.  But it probably doesn't hurt to ask if that's the best they can do?

    Thank you for your responses though- very helpful to hear what happens elsewhere.

    Cheers

    Profile photo of DWolfeDWolfe
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    @dwolfe
    Join Date: 2009
    Post Count: 1,253
    November 30, 2009 - 8:20 am

    Wow 4 is fantastic! I think I'll be asking for a lot better deal! Thanks ten!

    DWolfe | www.homestagers.com.au
    http://www.homestagers.com.au
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    Profile photo of BennyteeBennytee
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    @ten_burner
    Join Date: 2006
    Post Count: 243
    November 30, 2009 - 9:51 am

    Hey guys I forgot to mention the RE agency I go through gets the 1st weeks rent for a new tenant
    but for a lease renewal for an existing tenant they dont get anything

    Profile photo of cubman09cubman09
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    @cubman09
    Join Date: 2009
    Post Count: 37
    November 30, 2009 - 10:04 am

    6.6% in Traralgon VIC. Negotiated on the price though.

    L.A

    Happiness is made. Try making some.

    Profile photo of nataliebransonnataliebranson
    Member
    @nataliebranson
    Join Date: 2009
    Post Count: 31
    December 2, 2009 - 7:03 am

    Taryn, 8.8% is quite high.

    Im south east VIC, and had 6% not long ago. I would negotiate with them, or look for another! Regardless of being regional, 8.8% is high.

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