Property management fees Sydney can vary depending on the size and complexity of the property. They may also be based on the amount of time the property manager will need to spend on your property each month, as well as the management services you require. Typical fees include a percentage of the rent collected each month, sometimes called a “management fee,” which is usually around 10% of the rent. In addition, most managers charge an initial set-up fee and/or an annual renewal fee.
Be sure to ask your potential property manager about their fees and what services are included before signing any agreement. Also, remember that you may be able to negotiate a lower rate if you are prepared to do some of the work yourself, such as collecting rent or finding tenants. Make sure you know what is included in this fee. Some companies may charge for things like advertising, showing the property, and conducting background checks on potential tenants. Others may include all of those services as part of their fee.