In most cases, property management fees are paid by the property owner or landlord. As part of these fees, a property management company provides services, including advertising, marketing, tenant screening, rent collection, maintenance and repairs, resolving tenant issues, and other administrative tasks related to the property.

Depending on the agreement between the property owner and the property management company, the exact terms of the property management fee may vary. The fees may be structured in a variety of ways, such as a percentage of the monthly rent collected, a flat fee, or a combination of both. In order to understand the fee structure and the services that will be provided in exchange for those fees, owners should carefully review the terms of the property management agreement.

Fees generally are the same across each area. In Brisbane, the fees range from 7% – 12% depending on the agency you choose, and the level of management you receive.

Choosing a cheap property management agency may seem attractive in terms of cost savings, but it is important to keep in mind the adage “you get what you pay for.”.

There are a number of responsibilities associated with property management, such as tenant screening, rent collection, property maintenance, and legal compliance. A company that offers exceptionally low prices (6% management fees as an example) might cut corners or lack the resources to provide effective services, potentially resulting in issues such as unreliable tenants, delayed maintenance, or legal complications. To ensure that your investment remains secure, it is essential to balance costs with the quality of service.

Any property management agency you are considering should be thoroughly researched before making a decision, regardless of the cost. Take a look at online reviews, ask for references, and enquire about their experience in managing properties similar to yours.

It is also recommended that you request a detailed breakdown of the services they provide in order to ensure that they cover all aspects of property management. A reputable and experienced property management agency like Exclusively Managed, even if it is slightly more expensive, can provide peace of mind and a higher chance of long-term investment success.