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  • Profile photo of merystevensmerystevens
    Join Date: 2004
    Post Count: 1

    I am setting up a tenancy in Sydney for the first time. My agent is asking for 6%. Is this normal? What should I try for?

    Profile photo of garrytasgarrytas
    Join Date: 2004
    Post Count: 36

    Hi Merry
    6% sounds pretty competative check the fees and extras, get a list of charges.Find out how often they inspect the premises.
    Good luck with it [thumbsup2]

    [email protected] Always have cashflow positive Tasmanian commercial properties

    Profile photo of depreciatordepreciator
    Join Date: 2003
    Post Count: 541

    Sounds good to me. I’ve got a couple of places in Sydney.

    In answer to your question, what you should try for is a good property manager who is going to do their job. And they’re not easy to find.

    I honestly don’t see the point in choosing a PM solely on their management %. Do you choose the cheapest accountant? A PM is managing an investment that is possibly worth hundreds of thousands of dollars.

    I moved recently from a PM in Tasmania charging 7% to one charging 9%. The increase in occupancy rates has more than covered any additional PM costs.

    But that’s just me.

    I reckon it might be an idea for to make a post saying: ‘I’m about to rent out a property in XXXXX. Can anyone recommend a good PM?

    Tax Depreciation Schedules
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    Profile photo of
    Join Date: 2003
    Post Count: 1,248

    You get what you pay for – make sure tasks are in writing with performance guarantees – don’t screw them tooooo much we all need to make a living – $10 a week extra equals $520.00 per year – at the end of the day you need to have good raport with them, good luck …

Viewing 4 posts - 1 through 4 (of 4 total)

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