Our Property Manager Mr. Gavan Miller has over twenty years experience as head of this department since joining us from the National Australia Bank where he held the position of Accountant.
Our standard commission rate ranges between 5% and 7% of the rent collected, dependent upon the size and number of properties in the client’s portfolio. Letting fees on vacant properties are charged at the rate of 10% of the average annual rental for a three year lease, plus 1% per annum for each year thereafter, up to ten years. This is a fairly consistent charge throughout the industry.
The commission rate covers the collection of rental and bond monies, and the apportionment and collection of outgoings including Insurance premiums, Council and Water Rates, Land Tax, Body Corporate Fees and charges, garden maintenance charges, public lighting, periodic inspections, property repairs and maintenance (after consultation with the client), periodic rental reviews and the handling of fire and other insurance claims. We are also called upon from time to time to settle disputes between tenants and take eviction proceedings. An after hours emergency contact number is provided, which has been utilized by both the Fire and Police Departments on several occasions when factory fires, or break-ins have occurred.
Rental cheques are printed every Friday and many of our clients find it convenient for us to bank their proceeds by bank transfer. This is particularly attractive for clients who live overseas or spend the winter interstate, and no charge is made for this service. The rental statements are sent to the client in the normal way so that he/she, or the accountant is kept abreast of the current situation regarding the tenant(s).
Other agents are prepared to accept a lower fee structure, but we believe the professionalism of the service we provide warrants our commission rate.