One of the most frequently asked questions we are asked by landlords is “What are your fees to manage a rental property?” For a Property Management Agency, there’s a fine line between being market competitive and proposing unsustainable management fees. It’s important that a prospective agency gives you a thorough outline of what services they provide. Without knowing this, you cannot determine who is providing the best value for money. You need to ensure that you are comparing apples with apples.
A good property management agency will ensure they deliver on their promises to you. These include :
- Thorough screening processes of potential tenants
- Happy and well trained staff members
- Processing of all bill payments and paperwork
- Strategies and processes in place that ensure shorter vacancy periods
An investment property that is not managed effectively leaves you exposed to unnecessary risks. These risks could be costly and could therefore affect your bottom dollar. For our six reasons why hiring a professional property manager is crucial to the success of your investment, see here.
What are the fees to manage a rental property : What Rate Can You Expect to Pay?
Most agencies in Brisbane charge property management fees between 7.5% to 12% plus GST. This is for the management fee, including the rent collection commission. In Brisbane, there are agencies who charge either a fixed annual fee or less than 7.5% to manage your property. To run an effective property management agency and to maintain a high level of service, their business models are sustainable but their services are not!
Here’s some other articles with property management tips we thought you might appreciate :
- 5 Things You Need To Know About Claiming Tax Depreciation On Your Property
- How to Choose the Best Property Manager Made Easy
- How To Choose the Right Landlord Insurance For You
- Insider Advice To A Quick Tenancy Turnaround
- Top 8 Stress-free Property Management Tips For Landlords
Learn more about how Calibre Real Estate’s Property Management team can help you achieve maximum return on invest
Would you like an updated market appraisal of your investment property? Click here to request an appraisal and one of our team members will be in touch
