Adelaide has seen some seriously impressive growth over the last 12 months, as house prices have risen 4.6% and unit prices have risen 3.9%. In the metropolitan eastern suburb of Glenside, containing shopping destination, Burnside Village, auction clearance rates have hit close to 70%. To the southeast, regional suburb, Mount Barker, has performed beyond expectations as well, with 270 properties being sold in the last month. It’s possible that real estate agents will flock to areas with high market activity, increasing property manager competition and thus lowering property management fees.
What you need to know about property management fees in Adelaide
In the South Australian capital, property management fees typically consist of two fees: the initial fee is a one-time payment of 1 – 4 weeks rent, followed by continual fees that range between 5 – 10% of the monthly rent. In metropolitan and high value areas, like the South-Western beachside suburb of Glenelg, a property manager is likely to charge lower fees, as they require lower percentages to justify taking the listing and there is less competition between property managers. In rural and regional areas, however, the property management fees are often higher, owing to fewer agents, lower housing prices and a lower density of properties.
What to consider when finding the right property manager for your property
- The regional suburb of Barossa is well known for producing superb wine, so choosing a property manager who is able to advertise these strengths can be a great advantage for your rental property.
- Never consider hiring a property manager based on purely the property management fee, as there are many services and skills offered that can benefit your property.
- The best way to find the average property management fee in your area is by comparing agents directly.
Want to find out what property managers are charging in Adelaide?
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