The property market in Hobart, Tasmania’s capital city, has held a strong foothold over the last 12 months, where median housing prices have remained at $325,000. To the north, the cultured outer-suburban home of the MONA Gallery, Berriedale, has been a strong performer, with an amazing 100% auction clearance rate over the last year. Just west of the CBD, nestled at the base of Mt. Wellington, West Hobart has also stayed firm, with a record high property sale price of $1.2 million. Hobart’s higher property sale prices mean that property manager fees may stay the same in time to come.
What you need to know about property management fees in Hobart
The normal fees for a property manager in Hobart range from an initial fee of 1 – 4 weeks rent, followed by an ongoing rate of 5 – 10% of the monthly rent. In metropolitan areas and the CBD, where property prices are higher, like in the affluent southern suburb of Battery Point, a property manager may charge a lower fee. In rural and regional areas, such as the quaint Mt. Nelson in the south, property management fees are generally higher, due to lower property prices and fewer local agents.
What to consider when finding the right property manager for your property
- Always consider what a property manager can do for you, without just looking at the price tag; many agents specialise in certain kinds of properties, or use different marketing strategies.
- A property in the opulent coastal suburb, Sandy Bay, may benefit your property by having experience selling similar properties in the area, and understand what a prospective tenant may be after.
- Regional Hobart is likely to have higher property management fees due to lower property prices, decreased competitiveness between agents and lower housing density.
Want to find out what property managers are charging in Hobart?
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