Property Management Costs

Many investors prefer to manage their properties themselves to avoid the costs of a Property Management Department. It is therefore useful to compare the prices of different real estate agencies, and the latest edition of the Property Management Journal enables you to do that.
They conducted a survey of estate agents around Australia, receiving 828 responses. The results show that Ray White Beecroft matches the fees charged by most agencies.
Standard Management Fee
- Median figure 7.1% (318 respondents) - RWB charges 7%.
Standard Letting Fee
- Median 1 week rent (565 respondents) - RWB 1 week rent
Charge for tenancy renewals?
- No 414 respondents - RWB no.
Charge for postage and petties
- Median $5 per month - RWB $5 per month.
Charge for attending tribunals
- Median $50 to $60 per hour - RWB $50 per hour.
Of 13 other questions, eg charge for inspections, RWB answered "no fee".
In return for those fees, the Ray White Beecroft property management team provide services from supervising plumbing repairs to teaching new tenants how to manage their swimming pools. Fallen trees seems to be the in thing at the moment!!