My RE Management Agency just recently sent me a letter, that much as they regret it, as times are tough, they're gunna have to start charging me a $99 fee (which includes GST) every time they renew an existing tenancy agreement.
The fee of one weeks rent is normally charged for finding another tenant.
If I was being charged this for the lease to be renewed I would be checking out their competition. If there was a competent alternative that doesn't charge that fee I would move my business to them.
My RE Management Agency just recently sent me a letter, that much as they regret it, as times are tough, they're gunna have to start charging me a $99 fee (which includes GST) every time they renew an existing tenancy agreement.
Is this usual/becoming usual in the industry?
i don't think it's normal. tell them you are willing to make a counter offer that they wave the fee in return for your continued business.
I am the love child of Tony Abbott and Pauline Hanson
The fee of one weeks rent is normally charged for finding another tenant.
If I was being charged this for the lease to be renewed I would be checking out their competition. If there was a competent alternative that doesn't charge that fee I would move my business to them.
Yep. Finding a new tenant costs a week's rent.
But what they are proposing is a fee for renewing an EXISTING tenancy agreement.
Doing same used to be covered in their 7.5% of the rent (+ GST). And charges for 'postage 'n petties'.
But now they want a bit more ... ?
A Professional Demographer to an amateur demographer:"negative natural increase will never outweigh the positive net migration"
Fee free over here, except the one week for new tenant
Quote:
tell them you are willing to make a counter offer that they wave the fee in return for your continued business.
Yep, if they are doing it tough as they claim
Quote:
My RE Management Agency just recently sent me a letter, that much as they regret it, as times are tough
better a client paying something than no client at all.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
My RE Management Agency just recently sent me a letter, that much as they regret it, as times are tough, they're gunna have to start charging me a $99 fee (which includes GST) every time they renew an existing tenancy agreement.
Is this usual/becoming usual in the industry?
This sounds very high. The three agencies I have dealings with charge $0, $0, and $22 for this. The one that charges $22 has always done this, and charges lower % commission than the others.
I'd push back on this one. But then I always push back when people start trying to introduce new charges. Sometimes it works, sometimes it doesn't. The 7.5% you are paying in commission is neither low nor high for Qld.
One agency has/had started trying to charge $155 in advertising charges (essentially a Realestate.com ad) when a new tenant was found. Partly this is because Realestate.com has become a tax on the industry because once upon a time tenants used to go around the agencies and pick up the fliers and now they expect to find everything on Realestate.com and partly this was the agency trying to charge me for something that was previously in the new tenant fee. We eventually split it 1/3 to me and 2/3 to them.
But what they are proposing is a fee for renewing an EXISTING tenancy agreement.
Well they have to eat too you know. Expect all sorts of new charges in the years ahead as desperate agents cover costs. Very bad time to be a LL I am afraid, those of us who sold our properties last decade are truly sitting pretty now.
Australian Property Forum is an economics and finance forum dedicated to discussion of Australian and global real estate markets and macroeconomics, including house prices, housing affordability, and the likelihood of a property crash. Is there an Australian housing bubble? Will house prices crash, boom or stagnate? Is the Australian property market a pyramid scheme or Ponzi scheme? Can house prices really rise forever? These are the questions we address on Australian Property Forum, the premier real estate site for property bears, bulls, investors, and speculators. Members may also discuss matters related to finance, modern monetary theory (MMT), debt deflation, cryptocurrencies like Bitcoin Ethereum and Ripple, property investing, landlords, tenants, debt consolidation, reverse home equity loans, the housing shortage, negative gearing, capital gains tax, land tax and macro prudential regulation.
Forum Rules:
The main forum may be used to discuss property, politics, economics and finance, precious metals, crypto currency, debt management, generational divides, climate change, sustainability, alternative energy, environmental topics, human rights or social justice issues, and other topics on a case by case basis. Topics unsuitable for the main forum may be discussed in the lounge. You agree you won't use this forum to post material that is illegal, private, defamatory, pornographic, excessively abusive or profane, threatening, or invasive of another forum member's privacy. Don't post NSFW content. Racist or ethnic slurs and homophobic comments aren't tolerated. Accusing forum members of serious crimes is not permitted. Accusations, attacks, abuse or threats, litigious or otherwise, directed against the forum or forum administrators aren't tolerated and will result in immediate suspension of your account for a number of days depending on the severity of the attack. No spamming or advertising in the main forum. Spamming includes repeating the same message over and over again within a short period of time. Don't post ALL CAPS thread titles. The Advertising and Promotion Subforum may be used to promote your Australian property related business or service. Active members of the forum who contribute regularly to main forum discussions may also include a link to their product or service in their signature block. Members are limited to one actively posting account each. A secondary account may be used solely for the purpose of maintaining a blog as long as that account no longer posts in threads. Any member who believes another member has violated these rules may report the offending post using the report button.
Australian Property Forum complies with ASIC Regulatory Guide 162 regarding Internet Discussion Sites. Australian Property Forum is not a provider of financial advice. Australian Property Forum does not in any way endorse the views and opinions of its members, nor does it vouch for for the accuracy or authenticity of their posts. It is not permitted for any Australian Property Forum member to post in the role of a licensed financial advisor or to post as the representative of a financial advisor. It is not permitted for Australian Property Forum members to ask for or offer specific buy, sell or hold recommendations on particular stocks, as a response to a request of this nature may be considered the provision of financial advice.
Views expressed on this forum are not representative of the forum owners. The forum owners are not liable or responsible for comments posted. Information posted does not constitute financial or legal advice. The forum owners accept no liability for information posted, nor for consequences of actions taken on the basis of that information. By visiting or using this forum, members and guests agree to be bound by the Zetaboards Terms of Use.
This site may contain copyright material (i.e. attributed snippets from online news reports), the use of which has not always been specifically authorized by the copyright owner. Such content is posted to advance understanding of environmental, political, human rights, economic, democratic, scientific, and social justice issues. This constitutes 'fair use' of such copyright material as provided for in section 107 of US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed for research and educational purposes only. If you wish to use this material for purposes that go beyond 'fair use', you must obtain permission from the copyright owner. Such material is credited to the true owner or licensee. We will remove from the forum any such material upon the request of the owners of the copyright of said material, as we claim no credit for such material.
Privacy Policy: Australian Property Forum uses third party advertising companies to serve ads when you visit our site. These third party advertising companies may collect and use information about your visits to Australian Property Forum as well as other web sites in order to provide advertisements about goods and services of interest to you. If you would like more information about this practice and to know your choices about not having this information used by these companies, click here: Google Advertising Privacy FAQ
Australian Property Forum is hosted by Zetaboards. Please refer also to the Zetaboards Privacy Policy