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  1. #1
    Join Date
    Nov 2011
    Posts
    448

    Default Cost of property management in NZ?

    I'm just curious --- what's the average cost of residental property management fees per month in differnet parts of NZ?

    How much are you paying?

  2. #2
    Join Date
    Sep 2008
    Posts
    4,658

    Default

    8.5%, 8%. 7%

    all in auckland central
    people keep trying to rewrite the world as themselves

    like that'll work...

  3. #3
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,013

    Default

    6%-6.5% in Akl in general (it help if you have 3 or more properties).

    Christchurch + Dunedin 7%-8.5%

    Queenstown and Wanaka and some small towns 9%-10% of annual rent.


    overall if you have more properties then you have more negotiation power.

    re commercial property in AKL i know some pay between 2.5%-5% as it is less involved then residential..
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  4. #4
    Join Date
    Apr 2011
    Location
    Auckland & Whangarei Office
    Posts
    21

    Default

    Hi there,

    At Guardian property management it's 8% but is a full service including chattle inventory/condition report with each tenancy (including over 300 photos), no advertising costs, free representation if tenancy tribunal were necessary etc. Multiple properties attract rates of 6-6.5%. Generally we'll look at the overall picture with each investor and tailor a solution to suit.

    A good example of the flexibility/tailoring required is we also have a number of investors who have large portfolios of property (10-50 properties) and have had the management of their properties 'sold' when smaller PM providers sell their rental rolls (sometimes on more than one occasion). There are absolutely no plans to sell our rolls in Auckland and Whangarei so for extra comfort we offer a % of any profit on their portion of the portfolio should it ever occur.

    Regards.

  5. #5
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,217

    Default

    Dunedin 7.5-8%? Is that REINZ? Most non REINZ I have looked at are around 10%

  6. #6
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,013

    Default

    Re Dunedin- again it depends on who many rentals incomes you have and if it is family homes or students etc.

    send me a PM and I will refer you to someone who can help.
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  7. #7

    Default

    Quote Originally Posted by mattinvestor View Post
    I'm just curious --- what's the average cost of residental property management fees per month in differnet parts of NZ?

    How much are you paying?
    There's an outfit in Wanganui who only charge 4%. But they charge $40 per hour plus GST for any work they have to do. And apparently it takes them 1hr 20 minutes to make one phonecall and fill out a change of landlord form.


 

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