Property Management Fees Explained

Property Management Fees Explained

How much should I pay for Property Management? It’s one of the most frequently asked questions when it comes to Property Management. For Perth property owners it is a difficult task in figuring out how much a Perth property management company should cost as its quite common for charges and fees to vary.

It’s important that you find a reliable, effective and trustworthy property management team to take care of your property that you spent so hard working towards purchasing.

Duties Of A Good Property Manager in Perth

In the Perth metropolitan area there are many property management agencies to choose from, however not all of them will offer the same service and take the same approach to your property.

Below are some of the duties and services that an experienced and reliable property manager will do for you:

1. Providing you with an accurate rental value of your property to ensure that you are getting the maximum value out of your property.
2. Marketing and advertising your rental property to prospective renters, ensuring that a high qualified Leasing Manager is employed and then screening these prospective tenants to ensure you are getting the right kind of people in your property.
3. Regularly inspecting the property, updating you on its condition with a detailed report, images etc.
4. Organising any trades to repair, maintain or install anything that is required on the property.
5. Working alongside the tenant to combat any potential issues they may have with the property during their tenancy.
6. Making sure that rent is paid on time, this is very important when it comes to choosing a good property management team.
7. Working with difficult tenants and navigating you through any potential evictions if required.

The ongoing property management fees that you pay cover all the above tasks that your Perth property management agency are doing for you daily. These fees are based on the amount of rent you receive and usually range from 8-10%. This rate does not vary too much between agencies and thus it is important that you choose a reputable, reliable and responsive property manager.

 If your current Property Management is failing you in one or many areas, then it might be time to change property managers.

A responsive and professional Perth property manager works to minimise vacancies and maximise returns, communicates effectively and has good contingency planning.

Need responsive Property Management in Perth? Contact Thought Leaders today for property management that’s responsive, reliable and professional in taking care of your property needs.