We pay 5% to the agent who manages our property (Bayside, Melbourne), plus a small monthly statement fee (approx $2/month - I can't recall the exact amount off hand). We got this rate, which I understand is their rock bottom, because of a contact who referred us. They have been excellent in terms of managing the property - very responsive, very on top of things, etc. One thing to keep in mind is that the property generates a weekly rent that is on the high side, thus they are getting 5% of a very good number - I'm not sure if this is a factor in how low they are willing to go.