Schedule of Fees

MANAGEMENT


Residential

Single property holders: 7% of the gross income plus GST
Multiple property holders: 6% of the gross income plus GST

Commercial 10% of the gross income plus GST

Leasing of managed residential properties

Initial term, regardless of the length of lease term: Two weeks’ rent plus GST
Subsequent lettings: One week’s rent Plus GST
Option periods ½ weeks rent plus GST

All advertising expenses are payable as per agreement.

LEASING ONLY


This section relates to leasing properties not managed or not likely to be managed by Tower & London

Residential casual lettings-

Lease term Fee

6months: A fee equivalent to three weeks’ rent
More than six months: A fee equivalent to four weeks’ rent
Option periods: A fee equivalent to 1/2 week’s rent
A fee of $15 is payable for the preparation of a Residential Lease, further $15 are charged to the tenant.
A fee of $50 per hour applies when Inventory or Condition reports as required.

Commercial:
Lease term Fee

Three years and under: 10% of the average gross annual rent
Over three years: 12% of the average gross annual rent

SALES


Residential:

Our fee for the sale of residential property equates to 2.5% plus GST of the contract price, excluding marketing and auctioneer’s costs.

Commercial:

Fees for commercial, retail and industrially zoned properties are at 3% of the contract price plus GST, excluding marketing and auctioneers’ costs.
All advertising expenses are payable as per agreement.

ACQUISITION


A fee of 1% plus GST is applicable for successfully acquiring property, this fee includes a valuation report and investment feasibility.

REFURBISHMENT


For the administration and management of property refurbishment costing in excess of $1,000, our fee is 10% of the total cost.

VALUATION


Property value Fee for units Fee for houses

up to $500,000 $350 $500
>$500,000 up to $1,000,000 $500 $750
>$1,000,000 By special arrangement

All the above fees and expenses are subject to negotiation & 10% GST