Hi PropertyTalkers
I'm in the process of buying a new property in Mornington, Dunedin. A whole new area for me. I've taken recommendations of "great" property managers from a couple friends who had rentals in Otago prior to the GFC, but I can't bring myself to pay the fees they're charging. One quoted 9.5% and is tied to one of the big REAs which I've had issues with before, and the other 12% plus a bunch of miscellaneous fees for advertising the property, a letting fee, and a fee for renewing a tenancy.
I can't bring myself to pay that much, no matter how good the service is. It brings the net yield down to a barely worth it level.
I'm looking for a not-crap rental manager who can find and handle tenants, and charges less than 9% of gross rents. Preferably less than 8%.
I know these must exist. Can anyone help?
Anthony
I'm in the process of buying a new property in Mornington, Dunedin. A whole new area for me. I've taken recommendations of "great" property managers from a couple friends who had rentals in Otago prior to the GFC, but I can't bring myself to pay the fees they're charging. One quoted 9.5% and is tied to one of the big REAs which I've had issues with before, and the other 12% plus a bunch of miscellaneous fees for advertising the property, a letting fee, and a fee for renewing a tenancy.
I can't bring myself to pay that much, no matter how good the service is. It brings the net yield down to a barely worth it level.
I'm looking for a not-crap rental manager who can find and handle tenants, and charges less than 9% of gross rents. Preferably less than 8%.
I know these must exist. Can anyone help?
Anthony
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