Forum Replies Created
May be related only to building work: http://www5.austlii.edu.au/au/legis/sa/consol_reg/bwcr2011398/s4.html#domestic_building_work
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Hi all, Wouldn’t the rate charged by the agent be somewhat different depending on the rental rate charged in a given area?
e.g. If 8% were “the going rate” then an agent managing a property in Point Piper for $3000 a week would make $240 a week (for what)?Whereas the agent managing a property in Mt Druitt renting for $300 a week makes $24 a week. Is there 10 times more work for the agent in managing the Point Piper property?
Now, the examples above show two extremes – surely “in the middle of those extremes” agents in differing areas can do quite OK on 5% or 10%, depending?
BennyThis is true Benny – in the back ground most of us work to contract value. The property has to earn a particular income to be worth it for the agency. For a $3000 per week property, 3% or a flat fee may be negotiated and yes it’s all negotiated. If you look for smaller companies they may be more flexible and tailored to what you need and want as a client.
My initial post re- the 5.5% fees is a personal observation that those clients are easier to convert over to a higher fee after a few years of having experienced the cheaper agents – sometimes.
The disclaimer here off course is that the ones where everything was going perfectly would not source another agent to switch to.Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Good property managers step in and fix issues caused by agents that charge 5.5%
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Don’t worry when we open in Adelaide next year will buy you lunch and say g’day.
Cheers
Yours in Finance0-40 Properties in a decade. Ask Me how.would love to meet you Richard – we’ve been chatting on here for years.
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Xenia We have been Licensed agents since 2002 and incorporated a National Buyers Agency service into the Company in 2011 which Jacqui heads up.
We have about 420 properties under Management thru another entity and looking at expanding that interstate next year.
Cheers
Yours in Finance0-40 Properties in a decade. Ask me how.Now that is just awesome news. Now I have rent roll envy Richard. ;)
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
What do you guys think to this request..
Tenants inspect a property and see it has vents for heating and cooling in the ceiling and floor. They also notice that there is portable electric heaters in the bedroom and lounge room downstairs where the vents are. One of the vents has been taped over with sticky tape.
The tenants asked the agent if the heating works in the property as there are portable heaters in the rooms. He said he would confirm.
They agree to move in and find that the heating does not work. The agent then inform them it was obvious the heating did not work during their inspection as there was sticky tape over the vents. They ask for the heating to be fixed but the agent informs them the portable heaters are sufficient. The room is open plan double story and there is one heater downstairs and one upstairs.
Would you want to rent from this agent?The tenant can challenge this at a tribunal hearing and likely win the case. Tenancy legislation requires that all maintenance is done and all is working. The fact that there are vents there can be reasonable grounds for the tenant to assume that there is ducted air conditioning.
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Hi Jules, have you purchased another PPOR or lifestyle change and now putting your property on the rental market?
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Hi Jules
Unfortunately property managers are like solicitors and can charge anything for anything.
Management Fees vary from 4.4% to 11%
Then there are letting frees, lease renewal fees, fees for routine inspections, outgoing/ingoing inspections, monthly admin fees.Cheaper is not always better.
Have a look at the total package and calculate what you will be paying per week for someone to manage your property – that is the only way to compare between agents.
all the best
Xenia
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Hi Richard
thanks for your comments. Have you expanded your finance business to include a buyers agency? What are you doing TICA checks for? Investment properties you purchase?Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
Property investing was the beginning of my personal journey to self development.
At the end acquiring properties was just the tangible result of becoming a bigger person.
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
great to see you swinging this way too Matt
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
I’m assuming that the agent has your letter of offer including your terms of purchase and subject to’s?
It’s normal for an agent to allow the vendors to consider the letter of offer first. It that is accepted by the vendors then it gets written up as a contract.
If offer is rejected then no contract would be entered into anyway.
chase him up on Monday.
If you contact vendors, he would just say that he was waiting for them to approve letter of offer first.He could have always just given you a blank contract to be nice while the vendors are considering….
Xenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
I think one thing that stops people from going forward is fear.
Skills are easy to acquire, so is knowledge. Personal fear is a bit more harder to get over as most of it is subconsciousXenia | Alexa Real Estate Pty Ltd
http://www.alexarealestate.com.au/
Email Me | Phone MeAdelaide Property Manager
