If you’re a property investor in Brisbane, one of the most important decisions you’ll make is selecting a property manager. Property management fees in Brisbane can vary significantly depending on the agency, the services offered and the type of property.
Knowing what to expect helps ensure you’re getting value for your money and maximising the return on your investment. In this blog post, we’ll outline the most common property management fees in Brisbane and other factors that can contribute to your property management experience.
Six common types of property management fees
- Management fee
This is the ongoing monthly fee a property manager charges to handle the day-to-day operations of your rental property. In Brisbane, property management fees typically range between 7% to 12% of the weekly rent collected. The percentage often depends on the level of service provided. Some agencies offer a basic package, while others include more comprehensive services such as routine inspections, maintenance coordination and tenant communication.
- Letting fee
When your property becomes vacant, your property manager will charge a letting fee to find a new tenant. This usually includes marketing the property, conducting inspections, screening applicants and preparing the lease agreement. In Brisbane, this fee is commonly equivalent to one week’s rent (plus GST).
- Lease renewal fee
If your tenant decides to renew their lease, some agencies charge a lease renewal fee to cover the administrative work involved in updating the lease. This may include renewing the lease, updating the records and liaising with the tenant.
- Advertising and marketing fees
Your property manager may list your property on major real estate websites to attract the right tenants. These costs relate to listing your property online, creating marketing materials, and sometimes, even professional photography. Some agencies include these in their packages, while others charge separately.
- Routine inspection fees
Regular inspections are necessary to catch maintenance issues before they get worse and ensure that your property is being looked after. While some agencies include routine inspections in their management fee, others may charge separately.
- Administration fees
This includes postage, phone calls and document preparation. While these are often minimal, they can add up over time.
What to look for beyond the fees
While it’s tempting to go for the cheapest option, remember that not all property managers are created equal. A lower fee might mean fewer services or a lack of proactive management, which could cost you more in the long run due to poor tenant placement or delayed maintenance.
Instead of just focusing on cost, consider the experience, reputation and service quality of the agency. A professional team that takes care of your property as if it were their own is worth the investment.
And if you’re looking for a Brisbane property management team that does all this and more, look no further than PMC Property Management.
PMC Property Management — Exceptional property management in Brisbane
If you’re looking for transparent and competitive property management fees in Brisbane, PMC Property Management has got you covered. Our experienced team offers personalised service, clear communication and a hands-on approach to property management, giving you peace of mind knowing your investment is in the best hands.
Learn more about our services and how we can help by getting in touch with PMC Property Management today.