Hi, I've had a property manager contact me saying that they are increasing their fees due to rising costs and that they haven't increased them since I signed in 2017 so I was one of their original landlords on cheaper fees. In saying that, I don't think their fees were all that cheap to start with compared with other agents, and now they want to increase by an extra 1.8% per week, and a variety of other fees are being substantially increased too. I spoke with the property manager and they said they would review the fee increase and get back to me, however, they didn't change much at all. Laws are changing in Victoria, so I am now required to get extra checks on the property such as gas and electrical - which will cost me being the landlord extra too. It's a pretty new home and doesn't ever really have anything go wrong with it - so the property manager is just literally collecting rent for me since 2017 pretty much.
Managing fee 8.8% from 7%
Lease renewal fee $220 from $110
Letting fee 1.8weeks rent from 1.5 weeks rent
Advertising package $330 from $190
Signboard $125 from $0
Photography $150 from $0
Warrant of possession fee $330 from $150
Insurance claims $300 from $150
I've never heard of a property manager increasing fees like this before. Any thoughts on this and what I should do? Generally their service has been quite good. Last year it took 3 weeks after my last tenant vacated, to find a new tenant.. So it was advertised for a while during November, December period from what I can remember.