Appointing another person to look after Your Property is an important decision and one that deserves careful consideration.
Are you thinking about appointing an agent to manage your property?
Just imagine if you were to appoint an agent and you are eagerly waiting your first payment.
Finally the money hits the bank and you just stare at that figure on the screen. I can hear you saying “I expected it to be more than that”. We want to be upfront with you about our costs so that there are no surprises.
There are fees that you will be asked to pay, and this is deducted from the first month rental:
A management fee.
- This is a commission based on percentage.
- It is negotiable.
- Quality Agents in our area charge approx. $1500.00 per annum
A letting Fee:
This is either a percentage of the annual rental amount or a fixed amount, for example 1.5 weeks rent. Keep in mind that when an agent gets your contact details from a third party such as a website that offers ‘free’ service to ‘choose and agent’ then the agent will pay an amount to that website owner for your contact details.
- Every property needs to be advertised on all the major websites.
- The price to advertise on some websites depends on the suburb that your property is in.
- At Quinta we take professional photos – not done by the agent
- The erection of a “for lease” sign board
- Our Advertising Costs are around $200.00
An Administration Fee:
- Quinta Real Estate DO NOT charge administration fees.
- It is strongly recommended that you also consider ‘landlord insurance’
- The real cost of choosing the wrong agent could actually cost you thousands.
Example: Sam, my neighbour had appointed an agent at 4% property management,he also paid $25 monthly administration fees his letting and advertising. After 3 years, he moved back into the house. There was a huge hole in the bathroom floor, doors missing from cupboards and several holes in the walls. When he contacted the agent he was informed that the agent had never been on site and had refunded the bond before Sam saw the house.
There are many horror stories like this that I could relay to you.
The choice is yours.
There will always be another agent that will charge you less!!!
They will also give you less. . .
Our property owners sleep well each night.
They trust us, knowing that their property is in good hands.
Being cared for by people who own investment properties themselvesand who treat their investment as their own.
If we have not already had a chance to talk with you about your investment property then telephone our office and talk with one of the team today.