Forum Replies Created
I have 2 rented properties; $440 pw and the other at $1300pw; and both using PMs to manage the houses. I feel each put in the same amount of (little) effort yet one gets 3 times as much in fees. I have another 3 houses nearing completion where the developer is ready to sign up Govt rentals at $1900pw each. Of course in return they also want to manage them for me.
Now I am in the situation where I cant afford to pass up the 3 proposed rentals, yet the developer cum PM is going to charge nearly 5 times more fees than my first property. These 3 properties are in the same suburb sharing common fencelines, will be brand new, on long term rents and should be very simple to manage.
Why should I pay 5 times as much in PM fees just because the rents are higher? The alternative is to do it myself, but I would have to have the "inside contacts" with the state and federal government departments to get the same rent. I'm also international FIFO myself and personal time is a problem.
What I really need is a PM that is willing to cap their fees instead of taking a percentage, and have a better agreement than 2 weeks rent for the letting fee. ($11,000 for placing 3 tenants!!) All the (3) PMs in town charge the same fees.
Does a PM exist that is willing to have capped fees?
