Letting Fee

A letting fee covers the professional work involved in advertising the property, organising inspections, screening applicants, handling reference checks and preparing the lease agreement. In Australia, the fee is typically equivalent to one or two weeks’ rent depending on the agency and the local market. This fee helps ensure the property is leased quickly and with the right tenant, reducing vacancy time and protecting rental income. A high quality property manager will use strong marketing, thorough screening and detailed communication to reduce the risk of problematic tenants or early lease breaks. Although some landlords focus on choosing the cheapest letting fee, this can be a false economy if it results in longer vacancies or poorly vetted tenants. A strong agency should justify their letting fee by providing excellent service and securing tenants who maintain the property and pay rent consistently. Over the long term, good tenant selection protects your investment and minimises future issues.

Practical Example

You decide to lease your investment property and your property manager charges a letting fee equal to one week’s rent. They organise professional photos, list the property across major portals and schedule two open inspections. Several applicants apply and the manager conducts thorough reference and employment checks. They present you with a shortlist and recommend the strongest applicant based on rental history, financial stability and suitability for the property. The tenant signs a 12 month lease, moves in promptly and pays rent reliably from day one. The minimal vacancy period and high quality tenant easily justify the letting fee you paid.

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