There have been gains and losses in the Brisbane property market in the last 12 months, with house prices increasing by 2.8% and unit prices slumping 3.8%, though this is likely due to an increase in unit construction. In the central suburb of South Brisbane, with popular cosmopolitan attraction, South Bank Parklands, units are selling exceedingly well–214 have been sold in the last year. While in rural Clear Mountain to the north, the market is still strong, with $720,000 clocking in as the highest sale price over the year, though property management fees may follow the trend of relatively high costs.
What you need to know about property management fees in Brisbane
A property manager may charge up to 4 weeks rent as an initial fee in urban and regional suburbs of Brisbane and Queensland, depending on the area. In rural areas like western Glamorgan Vale, that number might be as low as 1 weeks rent, whereas in high value metropolitan areas, such as inner south Bulimba, resting on the Brisbane River the initial fee might be as high as 4 weeks rent.
After the initial fee, property management fees will normally change to a regular payment of 5 – 10% of the monthly rent, with rural and regional suburbs seeing a higher fee, and the metropolitan areas and CBD seeing a lower one, due to varying property values and agent numbers.
What to consider when finding the right property manager for your property
- The best way to find the average property management fees is to compare agents directly, allowing you to find which services best suit you.
- In regional and rural Brisbane, a property manager is likely to charge higher fees, due to lower property prices and fewer competing agents in the area.
- Don’t just use an agent based on the property management fees charged, for example forest girded Woodford in the north west may benefit from a property manager who knows the area, and can use the state forests to an advantage.
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