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Management for landlord fee's?

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  • 08-11-2007 5:20pm
    #1
    Nebudchanezzar
    Closed Accounts Posts: 1 ✭


    Does anyone have an idea of what rates an angency charges a landlord for the management of properties.
    Would they manage the likes of house's that have a number of flats, ie , would they collect rent, manage refuse, be available by phone to tenants etc. I'm asking because I have been looking after a relatives properties for a number of years which consist of 6 houses with a total of 38 units, 16 apartments and 5 complete houses. The yearly take is approx €500000 in rental. Two houses, with 5 or 6 units each will be included within the next 3/4 months. The issue of what payment I should receive has come up recently with some arguments I might add. I believe an agency, if they would look after the houses in flats at all, would charge at least 10%, approx €50.000. I'm guessing at that figure obviously. I'm being paid a little over 1/4 that amount. I should add that this month the rents have gone up for the first time in a few years, his income has increased with the flats alone by €38000.I'm wondering what a management company would charge him given those figures.


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    #2
    antoinolachtnai
    Registered Users Posts: 9,789 ✭✭✭antoinolachtnai


    You are probably not far off there. To collect refuse would make it more. If you do general handyman stuff that would make it more still.

    Bear in mind that they should be paying VAT for this service on top. If your turnover goes over a certain amount, you would be obliged to collect VAT too.

    Do you do general handyman stuff as well? That would add more.

    You might get accommodation out of the deal too.

    This is going to be a tough negotiation, I wish you luck. Try not to burn your bridges (i.e., keep managing what you have already for the meantime, but maybe refuse to manage the new ones for under 10 percent).


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    #3
    Victor
    Registered Users Posts: 78,400 ✭✭✭✭Victor


    It sounds like close enough to a full time job.

    Different agents will provide different services, different owners will have different requirements. Prices will vary accordingly. Go to a management agency, explain you have X number of properties, how much would they charge? Consider getting it in writing to show your relative. Discount it to give them a deal. Consider asking for it to be backdated.


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