Property Management Fees & Commission Explained

What are property management fees?

Property management fees represent the costs of marketing your property and managing tenants while they are in the property. It is also the agent’s commission for getting your property tenanted and is the way a rental property agent makes money.

Property management fees, also known as real estate rental fees, are presented as a percentage of the weekly rental amount for the property. The average property management fees for all states are 7.5%. There is also a letting fee payable when the property gets tenants, which is usually listed as a specific number of weeks rent. The average for this in Australia is 1.4 weeks of the weekly rent amount.