As an investor, it’s imperative to know how much is due for property management fees. In Brisbane, property management fees depend on certain factors, like the location of the property. Real estate in Brisbane city tends to attract lower fees because there’s stiff competition among the agents. Generally, the average property fee is 8.8% of all rental income plus GST.
It would be best to do thorough research as opposed to picking the first agent you come across. Pay particular attention to the fees they are asking and read the fine print to ensure there are no hidden fees.
What to Look for in a Property Manager
A good property manager will help protect your investment in all spheres. Some qualities you need to look out for in a good property manager include:
- A specialist: They shouldn’t be a jack of all trades but rather have specialised in all things property management. They should have a verifiable portfolio to prove the same.
- Excellent communicator: A good property manager should communicate clearly and offer personalised services.
- Transparent
- Reliable
If you want to receive the highest rental income, you can’t downplay the significance of hiring a good property manager. They will also help protect your property by screening every potential tenant. A property manager’s fee can range anywhere from 7% to 12%, depending on the location of the property.
What are the Property Management Fees in Brisbane?
Property management fees in Brisbane, like costs to knock down and rebuild a home in Brisbane, vary based on many factors, including the scope of the services offered. Generally, properties closer to the CBD are likely to command lower fees due to stiff competition among the agents.
Property management fees in Brisbane range from 7% to 12%, with 8.8% as the average. Tread carefully when you find property managers who charge less than 7%, because there may be hidden fees. It’s also equally important to note that higher fees aren’t a guarantee for higher services and vice-versa. Instead, research the properties they have managed in the past.
Types of Property Management Fees in Brisbane
If you have a property in Brisbane, there are two common types of property management fees:
- Management fee plus a collection fee, which ranges from 7% to 12%.
- Letting fee, which includes anywhere from one week to a month’s rent
What Are Some Roles of a Property Manager?
If you are an investor and don’t have the time to manage your property, a property manager can help offload the stress of managing all aspects of your investment, including collecting rent on your behalf. Other roles of a property manager include:
- Looking and screening for tenants
- Presenting the rental agreement
- Collecting rent on the investor’s behalf
- Coordinating timely repairs
- Dealing with complaints and disputes promptly
Interested in the current Brisbane property market forecast? Check out our latest article.
If you want to protect your investment, you cannot downplay the importance of hiring a good property manager. It’s crucial to do thorough research instead of hiring the first property manager you come across. Additionally, higher property management fees do not always mean better services and fees. Ask them to highlight the properties they’ve managed and notable achievements they are proud of, which can help you narrow down your choices.
