Our Property Management and Leasing Results
Winner of Property Management Agency in Sydney in 2022, Metro Realty is a multi-award-winning independent agency with an extensive portfolio of sold results and property management portfolio in Sydney CBD and the City Fringe.
Area specialisation, marketing skills, and teamwork leave competitors in their wake. As a team, we’ve nurtured our talent and invested in specialised in-house experts focused on their respective fields.
Our Property Management
- Proactive Property Management Team
- Routine inspections every 6-12 months
- Thorough & detailed inspection reports
- Fortnightly or monthly landlord payment
- Hell no to rental arrears – 100% of residential tenants on direct debit
- Comprehensive online tenancy application
- Rental reviews and lease renewals
- Efficient property repairs and maintenance handling
Real estate marketing plays a very important role in maximising your rent return, minimising vacancy and securing a quality tenant.
We believe rental marketing is just as important as the competency of the professional leasing out the property.
Depending on the extent of the contract you sign with your property manager, they can be responsible for the following:
- Advertising and finding new tenants when the property is unoccupied
- Assessing prospective tenants’ suitability and performing various background checks – this is a crucial step as NSW is a pro-tenant state. Once a lease is signed and a key is handed over to a tenant, it becomes complicated to reverse the action.
- Collecting regular rental payments from tenants
- Carrying out Ingoing, routine and outgoing inspections reports for each tenancy
- Dealing with and looking after tenants – answering queries, booking tradespeople for repairs, and generally acting as a go-between for landlords and tenants
- Reviewing rents annually – rents can be increased only once in 12 months in NSW.
- Facilitating lease renewal when necessary
- Liaise with strata on repairs that fall under strata responsibility
- Paying outgoings such as the council, water rates, and strata levies from rental income
- Represent you in dispute resolution – insurance claims or tribunal. Please note this will cost you extra fees, and we would not recommend trying to get free/all-inclusive management service for these matters.
Commission levels vary across different parts of Sydney; however, standard fees are between 5-6% plus GST. Most real estate agencies in Sydney charge their commission based on the percentage of rent collected.
Some agencies charge a flat rate. However, we do not recommend this strategy. There could be a period where the property is vacant or the tenant defaults on their rent. Under a flat rate management fee structure, you are still liable to pay your property manager even though you have no rental income.
A few words on property manager fees:
- The team at Metro Realty prepares a thorough, well-researched market analysis on EVERY rental.
We ensure an annual routine inspection is always carried out and have systems in place to review the tenancy rents regularly.
- As a result, our average rents are higher, and the capital growth of properties in our portfolio is higher as the properties are well-maintained.
You can claim your property manager’s fees as a tax deduction.
So while it will cost you money to have them manage the property for you, you’ll be able to recover some of that expense at tax time.
To make matters more convenient, your property manager will issue an annual statement at the end of the financial year summarising your income and expenses. Some agencies may charge a small fee for the annual report.
At Metro Realty, we do not charge our owners to issue an Annual Statement – the service is complimentary!