Commissions - Queensland Property Management

 

 Part of Chapter 1 of PME (Property Management Excellence)

 

Chapter 1 (in part)

 1.2 Rent collection commission

 Rent collection commission is regulated under the PAMD Regulations. The maximum commission that can be charged to a lessor is 5%. GST is under Federal law and is added to the commission – 5% plus GST.
Rent collection commission is a charge for collecting the rent from the tenant and all duties required legislatively a...nd in practice to carry out the duty.

 1.3 Letting commission

 The letting commission is also regulated under the PAMD Regulations. The maximum commission that can be charged to a lessor is one week’s rent. GST is under Federal law and is added to the commission – one week’s rent letting commission plus GST.
The letting commission is a charge to the lessor for letting the premises and fulfilling all duties required to secure a tenant and let the premises.
The letting commission is often referred to as the ‘let fee’ in the industry; which is not technically correct.

 

For more information about PME - Property Management Excellence Procedures and Training Manual, visit www.realestateexcellence.com.au