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.
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.