If I was to move overseas and rent my house out, how much would I expect to pay a real estate agent to manage the property? Eg as a percentage of the weekly rental rate?
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#1 by sharuk22 on July 23rd, 2009
I am a landlord in Sydney Australia and at the moment I am paying 8% of rent in Management fees. Also they usually take the first weeks rent at the start of a new lease.
With the shortage of rental stock though in Sydney I am sure you should be able to find property managers who could probably do better then 8%.
#2 by oliver k on July 23rd, 2009
Commercial properties usually have contracts for a percent of the income in the range from 5% to 10%. some include a portion of first months rent, others dont.
for your situation, a house usually is a flat rate per month plus reimbursement expenses to handle repairs (or you can set up a fund for them to use.).
I hope that helps.
#3 by michael w on July 23rd, 2009
Most property management companies charge by a percent in
witch the market and other competition usually dictates just like
when you sell a home the company I had worked for charged a
monthly rate
#4 by Jim M on July 23rd, 2009
Typically half of the first months rent 7 10% of the gross rents over the life of the lease.