Forum Replies Created
Wow! There are some fees there!
I believe that ongoing Property Management Fees should be flat and not a percentage(%) at all. It does not take more time for a property manager to manage a property when rents increase so they percentage(%) fees do not make sense.
Although we do not yet manage in QLD we charge $99/month flat fee as a comparison. One weeks rent for securing a new tenant and 50% of a weeks rent for renewing a lease.
Hope this helps,
Roger Perrett
Manage My Apartrment – Property ManagementI have found that books by Peter Spann are also great.
Roger Perrett
Manage My Apartment – Property ManagerA flat fee independent of rent increases (lower than that of a house if you own an apartment) makes sense to me.
I believe that a percentage fee structure incorrectly assumes that it takes more time to manage an apartment with a higher rent so the costs are higher. It takes the same amount of time to manage both a $400/week and a $800/week apartment yet with a percentage based fee, the property with the higher rent is charged over two(2) times the management fee of the lower priced property.
I also believe an apartment takes alot less time to manage than a house rented for the same amount as a Strata Manager shares the management/maintenance burden.
Checkout http://www.managemyapartment.com.au if interested.
