Fees and billings for property management companies in Melbourne

Hiring services for property management in Melbourne is the dream of every business owner. However, it is very unwise to hire this service without the proper education of their billing system. If you are expanding your business and want to hire these services for your company, then here are all the details about its bills and fees:

Set-up fee:

If you own a commercial property and are thinking of getting tenants in the property, then hiring property management services means that they would find tenants for your property who would not only fit your criteria but would also pay the rents on time. However, the company would charge you fee for that service. This fee would be non-refundable because they would be putting up your property for advertisement.

Commission:

On every tenant they bring into the building, they charge you a commission. It means that an increase in your business would also be an increase in theirs. You would have to pay them 3% to 15% commission on every tenant depending upon the rent and the size of the commercial properly you own.

Advertising cost:

Searching for tenants isn’t an easy job. The company has to look for tenants who have good renting history, no criminal records and are suitable for your place. This means that a lot of money would go into advertising your building so high-quality tenants would be tempted to come and live or work from your property. How successful the advertisement is can make or break your business and would determine the revenue generated every year.

Early cancellation fee:

If you have hired the management company for a year and you want to cancel their subscription before the year ends, then they would charge you with an early cancellation fee for breaking the terms of your contract.