Management fees in WA?

Hi All

Just wondering what the current rate is for a GOOD property manager is in Perth. We have had our IP with a good PM for last 12 months paying 12% ALL inclusive (no lease renewal fees etc.). During that 12 months we can't fault them.

Theytransferred/sold the rent roll to another company. We were ok with that as the existing PM continued managing our property. What has happened now though is they have sent an agreement for us to sign with the new company that is 12% + plus all the extras. This seems massively high on a $550/wk property.

What is a good rate for a decent PM?
 
What has happened now though is they have sent an agreement for us to sign with the new company that is 12% + plus all the extras.

What is a good rate for a decent PM?


Paul, seems excessively high..... The industry standard here in Perth is around 8% plus all the extras like letting fees, inspections, postage/petties, condition reports etc etc.. Perth PM's really do rip off landlords in comparisons to eastern seaboard PM's.
 
I am paying 8% in Geraldton + all the extras, inspections, entry condition reports, exit inspections, advertising, 2 week leasing fee. There is no way around it as they ALL charge these additional fees. Its very expensive if you compare it to property management in QLD, NSW or VIC.

12% + all the extras sounds very expensive for Perth.
 
RW was the original agent and yes at 12% it did work out cheaper than 8% + extras. I am happy with the PM and will propose 12% all inclusive as per original.

Now it raises the Q. Of REAs selling rent rolls and changes to the original agreement. When asking me to sign the new agent said it was exactly the same.....I'll give them the benefit of the doubt and put it down to oversight.:rolleyes:
 
WA property management

I am on the lookout for a WA property manager, compared with eastern states, here in WA you have to pay for every little extra that would normally be included. Why is the WA industry norm for management fee structure so different than its' eastern states cousins?? Is it purely because of being isolated by distance?
 
Hi All,

I'm paying 13.5% flat rate with a two week letting fee in the southern suburbs of Perth. I have heard good reports about them from people in the industry and from tenants that are living in a property that they manage. So far so good, only been two months so I'd be worried if it wasn't.
 
You should be negotiating a better deal, I just did, they are screaming for rentals at the moment, if they want your business they should reduce the rate or just walk IMO.

MTR
 
It's my first property and I agree it's quite high. I will keep my ear to the ground for other options but for the interim will see how this one pans out.
 
what are these property management companies charging 8%?

I am with LJ Hooker, 9.35% + 8.80 postage and petties per month
reasonably happy with service.
 
Here's a list of types of Fees some companies may charge

  • Management Fee
  • Letting Fee
  • Advertising Fee
  • Photography Fee
  • Property Condition Report Fee
  • Lease Renewal Fee
  • Routine Inspection charge
  • Bond Inspection Fee
  • Database Check Fee
  • Tribunal Attendance Fee
  • Insurance Claim Processing Fee
  • Annual Statement Fee
  • Disbursement Fee
  • Special Payment Fee
  • Maintenance Fee

I guess for additional annual costs you can add in smoke alarm complaince checks and maintenance, maybe a plumber every six months to checks the hot water system pressure relief valve, annual clearing of the gutters

Then you may have repairs required in any given year

Have I missed any :D
 
We are in WA with a property in Armadale. Just signed an agreement for 8% plus costs. Most of the costs won't apply unless we get a high turn over of tenants. $8.80 pm for postage etc seems standard, $45.00 for annual reporting, around $250 for change of tenant (condition report, photos etc). Overall, if we had a turnover of one tenant per 12 months it would work out at 12% of gross rent.
 
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