Making of Arcadia
Leave a Comment

Damn these agency fees

We have decided to let out our current apartment. Since this is our first time, we thought it would be best to leave it in the hands of the real-estate agent to deal with the tenancy nitty gritty. And the first real estate we contacted was of course the one that we bought our new house from.

So the agent came over this evening to our place to inspect it. We had the apartment all cleaned up and shining bright. I had high expectations of how much rental return we would get but turns out I just loved my apartment too much. The recommended price was much lower than expected. And then deduct from that the long list of service fees:

  • a whole week’s rent – every time the tenancy lease is renewed
  • a residential tenancy agreement preparation fee
  • a monthly admin fee
  • a weekly management fee of 5.5% of rent

These fees itself accumulate to nearly $2k per year – Heart Break (again). Damn these agent fees.

These long and winding agency agreement docs.

Having said that, its a relief that they will be managing all tenancy stuffs including rent collection, tenancy contracts, the outgoing bills & any disputes with the tenant if any. And we already have an open house arranged to start marketing our apartment for tenancy!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s