Originally posted by deechnz
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I bloody well knew it.
Ray White! The sods!
I used them once for property management and the little bills for bits and bobs which came in under the $500 mark, and thus did not require my authorisation, came in constantly.
Every month those little bills added up to several hundred. And Ray White clipped the ticket on them for 12% I think.
Eventually I realised that those 12% margins on a few hundred dollars a month on top of the PM fees took Ray White's fees to about 9.5% of gross rent. When I worked it out for each month it started to look like they were actually doing it on purpose, targeting a maintenance spend which would add an extra 2.5% of gross rent to their monthly revenue.
Needless to say I changed PMs. In the two years since I changed I haven't had so much as ONE unauthorised maintenance bill.
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