Property Management Fees – Canberra (ACT) + Fee Calculator

A letting fee and a management fee are the two main costs associated with leasing property in Canberra. The letting fee is payable to the agent for sourcing a new tenant at the beginning of the lease. In Canberra and throughout the ACT this is usually 1-2 weeks rent.

The management fee is generally a percentage of the weekly rent, payable for the ongoing management of the lease, and in Canberra is approximately 6-8% . Slightly higher fees should be expected in regional ACT. Fees may be payable for additional services such as monthly/annual statements and representation at tribunal so be sure to ask for a full list of possible costs to avoid any unexpected charges.

Need an explanation on fees? We’ve updated our property management fees guide to include important data about the fees you may encounter and how they might be structured.

Property Management Fees Calculator – Canberra (ACT)

Below you will find our Property Management Fees Calculator. Input the individual costs to uncover the annual property management fees you can expect to incur. The costs listed below are not a comprehensive list. Before appointing your Property Manager be sure to ask them for a full list of possible additional charges and allow for this is in the field marked ‘other’. This can include such things as annual statement fees, routine inspection fees, advertising fees etc.

Bear in mind, you will also have other costs associated with insurance and possible repairs and maintenance to your property.

Looking for a property manager? Follow this link for access to current promotional property management packages from top agencies.

Canberra Property Management Fees List

Weekly Rent – Actual or estimated rent collected from the tenants of your property on a weekly basis. The median rent in Canberra for the December 2018 quarter was $540 a week, some of the highest in Australia.

Letting Fee – A fee collected by the property manager in return for sourcing a new tenant for your property. In Canberra and the rest of the ACT, this is generally equivalent to 1-2 weeks rent.

Management Fee – Ongoing cost of managing your property paid to the property manager, and is usually expressed as a percentage of the rent. In TAS, the fee can range between 6-8%, depending on the location and style of property. You can use the interactive map above to find an average management fee for your suburb.

Other Fees – This covers all other fees that you and/or your property manager may encounter while looking after the property and tenants. This may include annual statement fees, inspection fees, advertising fees and more.

Annual Management Fees – A summary amount that shows purely the management fee over the course of a year for your property. For the average property in Canberra collecting $540 a week, this would be somewhere between $1,600 to $2,300 annually.

Total Annual Fees – These are your total fees for an entire year’s worth of property management, including the management fees, letting fees and any other fees you may encounter. It assumes that the letting fee and other fees are incurred annually, but your tenants may stay for a number of years. This would save you from paying multiple letting fees or advertising costs.

If you’re interested in finding a property manager, follow this link for access to current promotional property management packages from top agencies.