Renting out our apartment in Inner City Sydney for around $1,500pw for three months. Could I get opinions on the agency agreement:
Agent's Remuneration
The Agent will be entitled to the following fees (GST incl)
(a) 220% of one week's rent as a let ting fee
(b) $33 as a Tenancy Agreement preparation fee
(c) for the provision of all ongoing usual property management services
i) a management fee of 6.6%
ii) an admin fee of $99 per financial year
Marketing
$493 incl GST (initial letting only)
I have provided the professional photos. If we rented the apartment for 12 weeks at $1,500 - this amounts to 25% of the rent going to the agent. Sounds very high to me but I have no feel for executive furnished rentals.
Three month furnished apartment PM fees
Agent's Remuneration
The Agent will be entitled to the following fees (GST incl)
(a) 220% of one week's rent as a let ting fee
(b) $33 as a Tenancy Agreement preparation fee
(c) for the provision of all ongoing usual property management services
i) a management fee of 6.6%
ii) an admin fee of $99 per financial year
Marketing
$493 incl GST (initial letting only)
I have provided the professional photos. If we rented the apartment for 12 weeks at $1,500 - this amounts to 25% of the rent going to the agent. Sounds very high to me but I have no feel for executive furnished rentals.
