Property Manager

What is a property manager? 

A property manager is someone who takes care of a rental property on behalf of the owner. They handle tasks like finding tenants, collecting rent, handling maintenance issues, and making sure the property complies with all legal requirements. Basically, they're responsible for making sure everything runs smoothly for both the landlord and the tenants. 

Property manager responsibilities 

Property managers handle all aspects of renting out a property, which involve tasks such as: 

• Finding and vetting potential tenants
• Gathering rent payments
• Conducting regular property checks
• Coordinating with maintenance professionals

How much do property managers charge? 

Property management fees generally consist of two components: a letting fee and a management fee. The letting fee, typically equating to 1-2 weeks' rent, is a one-time payment made to the agent for securing a new tenant when the lease begins. 

On the other hand, the management fee is paid regularly, usually ranging from 5% to 12% of the weekly rent in states like NSW. This fee covers the ongoing management responsibilities.