When looking to rent out your property, understanding property management fees Sydney is essential. Knowing what to expect can help you make the right decision for your investment. Here we’ll discuss the typical costs associated with managing a rental property in Sydney.
Property management companies typically charge a flat fee or a percentage of rental income for their services. The flat fee may include services such as advertising, tenant screening, lease agreements and more. It’s important to shop around and compare rates from different companies to get the best deal possible.
The percentage of rental income that is charged by some property managers covers things like collecting rent, conducting maintenance and repairs, responding to tenant inquiries, and handling evictions if necessary. This rate can range from 5-10%, depending on the company you choose and any extra services they provide.
Another cost that may be included in your total fees is legal fees associated with preparing leases or other legal documents required by law when renting out a property in Sydney. This fee will vary depending on the complexity of the agreement being drafted as well as what type of service you need from an attorney or solicitor specializing in tenancy laws within Australia NSW.
Finally, it’s important to remember that there may be certain additional charges involved such as late payment fines or cleaning fees if necessary when managing a rental property in Sydney.
