The fees property management companies charge and how they position them can vary a lot. So how do you know what’s a good deal? Is it as simple as choosing the lowest flat fee? Short answer: no.
Some property management companies charge low flat rates, but then charge extra for services like quarterly inspections, incoming and outgoing inspections, end of year financial statements, and even monthly admin.
Rather than just focusing on the fee, it pays to consider the total cost of management.
Tailored Fees for Unique Properties
We understand that no two properties are the same. Some properties require more management than others, so it’s unfair to charge a flat fee across the board. Factors we consider when setting our fees include:
- Type of Property (flat, house, apartment)
- Condition of the Property
- Location
- Tenant Demographic
- Weekly Rent
- Size of Your Portfolio
- Level of Risk Associated with Your Property
Our property management fees range from 8.5% to 12%, with an 8% maintenance fee.
We ensure fair fees for all of our investors by taking this approach.
What’s included in our fee?
Transparency and care are the hallmarks of our company. Therefore, our fee covers everything needed for comprehensive management. So you can rest easy knowing you’re getting an all-inclusive package at a fair price.
What’s not included in our fee?
The placement fee (finding new tenants) is $575 plus GST. Tenant placement is one of the most pivotal steps in protecting your investment. So we don’t cut corners. We conduct extensive screening, including reference and credit checks. This fee also includes a full marketing campaign with multiple platform listings.
Why Vacancy Rates Matter
While fees are important, an often-overlooked factor can cost you significantly more—vacancy rates.
Did you know that every week your property sits vacant, it costs you approximately $670? That’s the difference in fees between property management companies—around 2%.
This is where care makes all the difference.
Poor tenant screening, a lack of proactiveness and responsiveness in finding tenants, as well as poor tennant management can lead to high tenant turnover and low occupancy.
That’s not what we want for our investors.
At Glasshouse Property Management, our occupancy rate is 99%. Our mission is to find you the best possible tenant ASAP, minimising your vacancy costs and maximising your rental income.
Setting rent at the right level
While good overall property management is vital to the success of your investment property, it’s also important to set the rent right in the first place. A rental appraisal from Glasshouse can offer valuable insight into the rental potential of your property.
We understand your desire to get the highest possible rent, but we also know how to ensure it’s competitive with other properties currently on the market. Public records and our extensive database provide valuable insights into tenant demand in your area, helping you set the optimal rental price.
Some rental agencies may promise you a high rent amount... but beware.
This could be a tactic to get you to sign up with them. If the rent is too high, your property could sit empty for a long time, and you’ll be locked into a contract.
This is why at Glasshouse Property Management, we always rely on data to ensure your rent is based on the money. Of course, we want you to maximise your returns, but we also know the high cost of your property sitting empty for extended periods.
Our goal is to find you the best possible tenant as soon as possible, for an amount we know they’re prepared to pay.
How can you make sure you’re choosing the right property manager? Read our article: “7 Questions You Should Ask Your Property Manager Before Hiring Them”.
Why choose Glasshouse
At Glasshouse, we’re proud of our excellent reputation as careful property managers who provide top-quality service to landlords and tenants.
A property manager does much more than simply list properties and find tenants. To mitigate risk and achieve the best results, you need the right people on your side. Experience is crucial, and you should know what you’re getting. Want to know more? Get in touch with us today to learn about the Glasshouse difference.
