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Jahs 70
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AssociatedLdarkdsl on 15/03/2014 - 00:07 futurepartnersrealestate.com.au (165 clicks)
Last edited 25/03/2014 - 16:53 by 1 other user
Last edited 25/03/2014 - 16:53 by 1 other user
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To be fair, that's not a bad deal.. Descent price for Management fee too - but could also depend on other fee's/charges..
So 40% of the 1st week only, then only 4.4% thereafter? If that's the case then it sounds OK!
You are saving 30% - 40% of whatever the first weeks rent is.. Standard fee real estate agents charge is first week and some charge first week + 10% GST.. So good deal either way - I would still be checking the rest of the fee's/charges!
Sounds like a decent deal to me
How much are sundries
What is the letting fee for second tenant (after first moves out)
How many property managers per rental properties (ratio) does your firm manage?In WA, they charge two weeks to the landlord.
You need to get another agent.
Unfortunately, in WA they all extort the same amount.
I just rented one of my properties and the usual letting charge is 1 week rent + GST (in NSW). 30% off is a good offer, but some things you have to watch out for which might cost you. But upfront letting fee isn't everything. Here are a few ways I've maximised the money coming in and minimised the money going out.
*Sundries: Some real estate agents charge for postage/sundries. $10/month is a bit much, $3-$5 is more reasonable.
*% management fee: just because it's on the "standard contract" doesn't mean it's set in stone. You can negotiate.
*Tribunal charges: heaven forbid, something goes wrong and your landlord has to go to a tribunal. Check the contract before signing: some property managers include this in the management fee, some charge $55/hour.
*Ratio of properties to property manager: there are only a set amount of work hours in the year. If your property manager is managing too many, yours won't get the attention needed. 100-200:1 is considered reasonable. Too many and your property won't get the attention you're paying for. Divide the amount of work hours in the year by the amount of properties they manage to get an idea of what you think is reasonable/unreasonable.
*Agents who don't push for rental increases when appropriate: if your agent doesn't do this, you'll look like the bad guy after a few years when you ask for one.
*Agents who engage tradespeople who don't provide good value: this will eat into your rental.
*Property depreciation report: you'll save more in tax in the first year than the cost of most reports.
*Refinance: yeah, the paperwork sucks. I recently refinanced from CBA to another bank, am saving $2k a year in interest. The other bank was willing to pay the majority of the loan discharge fee to get the business.
*Landlord's insurance: ~$300-$400/year. Specialist landlord insurance companies are better than the larger ones.If the property manager checks out, 4.4% is a reasonable fee.
Indeed 4.4% is quite competitive
Could the StoreRep list out the fees structure
happy to think about this
How's this a bargain?