Hi Guys,
i've just got my first investment unit in Surry Hills, Sydney NSW.
wondering what the standard rates for agency management fees are?my agenct (through whonm we bought the property) has sent us an Exclusive Management Agency Agreement Residentail-form.
in it, the fees are:1) one weeks rent +GST (upon effecting any letting of premises)
2) $18 inc GST tenant agreement preparation fee
3) 5.5% of all monies collected on behalf of landlord (i assume this is commission off rent collected)
4) admin fee of $5.50 per month
5) $88 for listingis this about right for the Sydney market? i wasnt sure of the one week's rent as well as the ongoing $5.50 admin fee
thanks
benYes and 5.5% slightly on the cheaper side (not necessarily a good thing). I pay 6% + GST.
cool thanks for that.
yeh apparently 7.5% was the going rate, but becaue we bought property via them, they gave us the discountwould luv to hear from others if they think/experience the same/differently
Nil, if you place an advertisement in the local paper (approximately $80) and manage yourself. Rental packs are purchased from the newsagents. Just an alternative that has worked very well for me………
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