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Are there any real estate agents on here? DH and I are thinking of breaking our lease to move into our own home... but the clause in our contract is that we have to pay 1.5 weeks rent, advertising costs as a penalty plus rent until someone moves in... so, my question is - what are the average fees for advertising a rental property?
TIA
MG
We just gave notice on our lease to move back to Brisbane and we only have to pay an extra one weeks rent plus GST and rent till they find a tenant!!
Sorry not much help at all really.
Amelia, that's in our clause too - it's the just the advertising that is extra in ours. To be honest, I've never had that in any of my rental contracts... but how much advertising costs are will depend on whether or not we go ahead with building at the minute. The builder has an 18 week max build time (but we're told it's usually 8 weeks - but excuse my skeptisim there!) which puts us roughly 7 months into our lease (based on 18 weeks)... so a lot of money to pay out if they take their time getting a new tennent!
Advertising costs vary depending on how long the property is vacant for. We advertise in the newspapers which are normally approx $50 per advert per week per newspaper, we also then advertise on 4 different websites which normally cost around $200 for a month and then also on the agents website/office which is around $30 because they need to take new photos and make up a flyer. For 1 month you could be looking at anywhere from $400 plus depending on how many websites and how many newspapers your real estate agent advertises in & how regularly. All agents are different as some don't charge for internal advertising whereas others do. For us personally advertising for any given month is $430 a month. I have heard of agents just using the main realestate.com.au website and not advertising elsewhere so this would make it cheaper, but you'd have to contact your property manager to find out exact costs. Hope this gives you some idea of what your expenses could be.