I recently engaged CVue Property to lease a residential property of mine and their service has been great. Their fixed fee is not only a simple way of managing the overall return on investment, but also a much fairer way of remuneration for their time than the traditional percentage of the gross rent which is predominantly dependent on the location and accommodation of the property, and not on the place being any more difficult to manage.
I have worked out that especially as it’s a higher end property from a rental perspective, with all of the additional fees that I’m no longer having to worry about – including letting fees, tenant reference check fees, tenant invoice reimbursement fees, monthly admin fees, property condition report fees, routine inspection fees, final bond inspection fees, lease renewal fees, annual financial summary fees, professional photography fees, and advertising fees, I’m saving approximately $120 a week in fees.
I’d much rather pass the savings of $120 a week onto the tenant and/or create a buffer for repairs and maintenance. It seems mutually beneficial to all parties (landlord, tenant and agent).
