Best Property Management in Eastern Suburbs Melbourne – 1st IP

Hi All.

I just purchased my first IP and I’m keen to hear your thoughts on great property managers you use/have used in the Eastern Suburbs of Melbourne.

My IP is currently tenanted with what the REA has told me are excellent tenants who are keen to stay on when their lease expires early 2015.

I have the fee structures of the below agents so far – do these look typical? Any help is much appreciated.

Cheers

Agent 1 (currently manage the property)
Letting Fee: Equivalent to two weeks rent
Management fee: 6% of gross monthly income
Lease Renewal: $75
Monthly Statements: $2.50
Advertising: $232.70 (internet, photos, window board, lease board, tenancy check, key cutting as charged)
VCAT: Fees similar

Agent 2
Letting Fee: 5% of the annual rent + GST
Management fee: 7% of the annual rent + GST
Lease Renewal: $60.50
Statements: Free
Advertising: $130 (30 days – including internet, lease board, tenancy check, key cutting)
VCAT: Similar