The booming property market in the New South Wales capital is continuing with unprecedented gusto, shooting up by an incredible 16% in the housing sector and 9% for units, over the previous 12 months. This is great news for owners in northern coastal suburb Dee Why, sitting on the Dee Why Lagoon Wildlife Refuge, where median house prices have jumped to $1.28 million over the year. Those renting out these high value properties will be pleased to know that their prospective property manager may charge lower fees in response. In the northwest, next to the Berowra Valley, Galston is also sitting pretty, with a record sale of $3.3 million this year.
What you need to know about property management fees in Sydney
Typically a property manager will charge 1 – 4 weeks rent, as a one-time fee when the property is successfully rented out, and from then on will charge between 5-10% of the monthly rent. In the CBD and metropolitan areas, like the inner-city suburb of Potts Point, property management fees are likely to be low, due to high real estate value and a larger number of competing property managers.
What to consider when finding the right property manager for your property
- In western-lying Penrith, property management fees are likely to be higher, much like the rest of rural and regional Sydney, due to lower property prices and fewer agents contending for listings.
- Never choose a property manager purely based on the fee; in northern suburb, Duffys Forest, a useful agent may be one who utilises the nearby golf club for an appropriate tenant.
- The best way to find a property manager is to compare them directly, so you can see the average price and what services are on offer.
Want to find out what property managers are charging in Sydney?
The best way to compare property managers in your neighbourhood is with AgentsCompare. It’s a 100% free, online service that helps you request no-obligation quotes from your local agents. Register your property online to get a helping hand into the property world.
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