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When you contract a property management company,expect to pay a commission of6% to 12% of the rental value. This fee goes to the management company. However,some companies charge a flat rate of $100 to $200 per month,especially when the rental income is relatively low.
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How much does it cost to manage a rental property?
Property management fee breakdown. Rental property management fees can vary quite heavily from one property management company to the next. Here is a breakdown of property management fees you should expect to pay: Setup fee. This typically runs up to $300 and covers the time involved with setting up a new account. New tenant fee.
Can a property management company charge a letting fee?
Some property management companies may charge a fee for monthly reporting too. Fees charged will vary depending on the level of service being provided. For example, if you have switched property managers mid-lease, you will not be charged a letting fee by the new rental agent as they have not been required to source a new tenant.
What are the different types of property management fees?
This is often split into two separate fees; a rent collection fee and a management fee. Both flat and percentage-based models are common in Brisbane and throughout Queensland so be sure to be very clear on exactly what each agent is offering for their quoted fee before selecting a property manager.
How much does it cost to manage a property in Queensland?
Property Management Fees Brisbane (QLD) Property Management fees in Queensland generally sit between 7% and 12% of the weekly rent, depending on where your property is located. In Brisbane the average property management fee is approximately 9%.