When you get your property manager to fix something....

[N860CR]

The sundries pisses me off big time. $10 a month to send a PDF statement plus an additional fee at the EOFY for a financial statement.

 

[MrHyde]

The sundries pisses me off big time. $10 a month to send a PDF statement plus an additional fee at the EOFY for a financial statement.

$10 a month sounds really excessive. I pay between 6.6% (discount because of multiple properties with same agen) to 16.5% (for DHA property). The most common price I have seen is between 7.7% and 8.8%. I also pay this statement fee of $5, but do receive a paper copy for it. I may also pay a fee of $2 for something to one of our agents, but will need to go back confirm.

 

[N860CR]

Yeah... Unfortunately that place is in the country and it's very hard to negotiate a better rate. They're also pretty dumb and aggressive up there when you try to question them

Off topic, how do you find the DHA properties? I'm thinking of getting one however I wasn't sure if the higher management fees are worth it in the long run.

 

[JohnK]

BTW I pay 7.5% + GST management fee - what does everyone else pay?

I/we pay 3.5% + GST management fee. I think sundries are~$2.75/month and still have statement posted.

 

[scheps]

WOW JohnK, thats a great deal, or your weekly rent is pretty high.

 

[MrHyde]

Yeah... Unfortunately that place is in the country and it's very hard to negotiate a better rate. They're also pretty dumb and aggressive up there when you try to question them

Off topic, how do you find the DHA properties? I'm thinking of getting one however I wasn't sure if the higher management fees are worth it in the long run.

I purchased straight from DHA. The higher fees are worth it as our DHA property is in the same area as one of my other property and comparing the two - the DHA property has a lot higher rent, which has increased every year without me having to chase the property manager and asking for it to be raised and we've never had any maintainence issues or tenant issues - It is a buy and forget property atleast for 12-15 years.

Be careful of the purchase price though - have noticed that the purchase price is above market price in most areas - felt we were lucky that the property that we got was in a good suburb and price was market price.

 

[JohnK]

WOW JohnK, thats a great deal, or your weekly rent is pretty high.

Rent is moderate.

We wanted to offload various property managers and offered this real estate agent our properties with discounted management fees. The going rate in the area at the time was 5% management fee + GST.

 

[amaroo]

I/we pay 3.5% + GST management fee. I think sundries are~$2.75/month and still have statement posted.

That is incredible cheap. Forgot to add that the 7.5% also covers an agent inspection every 6 months with a detailed written report including photos.

I purchased straight from DHA. The higher fees are worth it as our DHA property is in the same area as one of my other property and comparing the two - the DHA property has a lot higher rent, which has increased every year without me having to chase the property manager and asking for it to be raised and we've never had any maintainence issues or tenant issues - It is a buy and forget property atleast for 12-15 years.

Be careful of the purchase price though - have noticed that the purchase price is above market price in most areas - felt we were lucky that the property that we got was in a good suburb and price was market price.

FWIW the Government is making noises about flogging off DHA....no idea what impact (if any) that will have on returns.

 

[sumthinfornuthin]

The sundries pisses me off big time. $10 a month to send a PDF statement plus an additional fee at the EOFY for a financial statement.

All these fees are negotiable, ring up and speak to the Property Manager and tell him the $ 10 is too high and you don't want to pay it and are looking to go elsewhere. His/her call then
If you don't want the EOFY statement tell them that beforehand.
For $ 10 it saves you ( the Landlord ) a hell of a lot of record keeping. Do you work for nothing ??

 

[sumthinfornuthin]

I/we pay 3.5% + GST management fee. I think sundries are~$2.75/month and still have statement posted.

what is the weekly rental ??

 

[N860CR]

All these fees are negotiable, ring up and speak to the Property Manager and tell him the $ 10 is too high and you don't want to pay it and are looking to go elsewhere. His/her call then
If you don't want the EOFY statement tell them that beforehand.
For $ 10 it saves you ( the Landlord ) a hell of a lot of record keeping. Do you work for nothing ??

I don't believe I actually receive anything for the $10 sundries payment. The principal happily told me to get stuffed when I questioned it. Honestly don't have the energy to risk upsetting a good tenant with a manager change at the moment.

The EOFY statement is an additional 30-40 (can't recall atm) and I have no issue with that one.

 

[sumthinfornuthin]

I don't believe I actually receive anything for the $10 sundries payment. The principal happily told me to get stuffed when I questioned it. Honestly don't have the energy to risk upsetting a good tenant with a manager change at the moment.

The EOFY statement is an additional 30-40 (can't recall atm) and I have no issue with that one.

Hi N860CR

$30/$40 for an EOFY is a bit rich, most are $ 10/15

 

[N860CR]

Yeah that's about what I pay for the places in Sydney. This rural Qld experiment has been a little trickier than I thought.

 

[Wozz]

My management fee is 5% though i pay $20 per month for sundries - which works out to be another 1% (rent of 2k per month)

To be fair they do send me pretty detail hard copy reports each month by post, hence I didn't bother bringing that up with the principal

 

[JohnK]

what is the weekly rental ??

From $300-$350 per week.

 

[docjames]

Thanks for your advice guys, now i don't feel so "unreasonable" anymore. To be honest, I don't know how they live with themselves when they do that. My agent refuse to give me a receipt, only on the statement. I have since come across similar stories from my friends who have investment property. But there are some who are good. I just never thought of bringing up this topic, because, i was surprised as to how much there was to talk about!!

The full bond refund? that is terrible. And i would have thought, they usually gouge the tenants on that part instead of the owner.

The cynic in me suspects the price you are charged on the statement doesnt match the amount on the invoice.....

 

[amaroo]

Seems appropriate to post this here Tenants from hell ruined my life: Landlord | Sunshine Coast Daily

 

[scheps]

not sure why that is relevant, seems like the guy did not manage his property appropriately, despite the fact that it was a very important piece of asset to him.

 

[scheps]

The cynic in me suspects the price you are charged on the statement doesnt match the amount on the invoice.....

I share your cynicism, would be good if I could prove it.

 

[scheps]

Btw how far out do you guys send out your renewal notice, and the deadline you set on the reply?