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The letting fee is payable to the agent for sourcing a new tenant at the beginning of the lease. In Sydney and NSW this generally equates 1-2 weeks rent. The management fee is usually a percentage of the weekly rent, payable for the day-to-day management of the lease, and in NSW can vary from approximately 5-12%.

That said, ongoing property management fees in NSW are usually 5.5% – 6.6% (including GST) of the rent received. So, say you've leased your property for $2,800 per month and your agent charges 5.5%. This would mean you'd pay $154 ($2,800 x 5.5% = $154) a month – or $1,848 a year – in management fees.

In most situations, you'll be asked by the landlord or agent to complete an application form and provide supporting documentation that shows: proof of identity. proof of income, such as a payslip or bank statement. past rental records. personal and work references.

The landlord is always responsible for the payment of the following charges: all rates, taxes, or charges levied by governments.

If less than 50% of the lease has elapsed (but more than 25%), then the fee is 3 weeks rent. If less than 75% of the lease has elapsed (but more than 50%), then the fee is 2 weeks rent. If more than 75% of the lease has elapsed, then the fee is 4 weeks rent.

The average property management fees for all states are 7.5%. There is also a letting fee payable when the property gets tenants, which is usually listed as a specific number of weeks rent. The average for this in Australia is 1.4 weeks of the weekly rent amount.