The following is a fee chart from Perth agent and I understand this is fairly standard in WA
Some 40% of owners of rental properties in Perth self manage according to the President of REIWA
I have not seen fee structures from other states.
But with fees like this property owners will look favourably at anyone who offers a lower cost effective alternatives.
Property Management Schedule of Fees
Monthly management fees
Properties over $350pw rent 9.35%
Properties under $350pw rent 9.9%
(Furnished or partly furnished ? add 3.3%)
Administration fee $11.00
Service Fees
Lease to new tenant 2.2 weeks rent
Lease renewal of existing tenant 1/2 weeks rent
Property condition report (one off fee) up to 3 bedrooms $165
Property condition report (one off fee) 4+ bedrooms or double storey $187
Final Bond Inspection (upon tenant vacating) $165
Routine Inspection (quarterly) $ 77
Nation Tenancy Database search for applicants $13.30
Title Search (unless copy supplied by Owner) $17.60
Strata Plan search where required (unless copy supplied by Owner) $17.60
Annual Financial Summary Report Statement fee $66.00
Professional Photography $99
Advertising to 8 key real estate internet sites $125
?To Let? sign (including installation & removal) $ 77.00
Miscellaneous Fees
Representation at court/strata meetings $110 per hour
Project management, major renovations, etc $ 99 per hour
Insurance claims (per claim lodged) $110.00
RNT Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
