What are the fees for Property Management? If I were to use the same fee schedule for Tenancy Administration, how much would it be?
Seventh Schedule, VAEP Rules 1986 specifies the fee for property management at:
An annual fee based on:
5.0% of the gross annual rent on the first RM30,000
3.0% of the gross annual rent on the residue up to RM 100,000
2.0% of the gross annual rent on the residue over RM 100,000
Minimum fee of RM50 per month = RM600 per year.
As of current knowledge, there is no NEW fee schedule for Tenancy Administration. Hence, if you follow this charges, the fee for annual rent collection for a condominium unit with RM1,600 monthly rental should be:
RM1,600 x 12 x 5% = RM960 per year (RM80 per month).