Our default commission is 8% plus GST for properties renting at or below $350 per week. However, our commission structure scales with the rental value of the properties we manage. For every $10 that may be charged in rent beyond the $350 mark our commission drops by 0.05% (down to a minimum of 4% plus GST).
FOR EXAMPLE:
A property which rents for $700 per week will attract a management commission of 6.25% plus GST.
A property which rents for $900 per week will attract a management commission of 5.25% plus GST.
Our fees scale like this because higher value rentals don't necessarily mean more work. Owners of higher value rentals pay proportionally less with Jericho. In this way we ensure value for money for all of our clients - big and small.
A commission on incoming rent and outgoing maintenance is all you’ll pay for our services.
• We don't charge for organising advertising.
• We don’t charge for taking photographs.
• We don’t charge lease renewal fees.
• We don't charge for inspections.
• We don't charge letting fees.
• We don't charge any admin or clerical fees.
• If a property is empty we work for free.
Our commission and any other base costs (advertising, maintenance etc) will be deducted from our bi-monthly
disbursements to you. Most companies disburse once a month – more disbursements = better cash flow for our
clients.
We charge less to manage apartments as well. Our default commission for apartments is 7% plus GST. Again,
we charge less because apartments generally involve less work. We charge less to manage townhouses too (7.5%) for similar reasons.
We give clients having us manage more than one property a 0.5% discount across the board.
We treat each property individually, so each gets its own commission percentage.
FOR EXAMPLE:
A client has us manage a house which rents at $550 p/w and an apartment which rents at $430 p/w.
The apartment defaults to 7% commission because we charge less to manage apartments. The scaling commission system brings a discount of 1% to the house and 0.4% to the apartment. The client gets a 0.5% discount across the board for having us manage more than one property.
House: 8% - 1% - 0.5% = 6.5% plus GST
Apartment: 7% - 0.4% - 0.5%= 6.1% plus GST
When we increase rent, as we do most years, the management commission percentage decreases to reflect the new rental value achieved.
If the property is already let when we're signed on, we lower our commission by 4% until we let the place ourselves. Again - less work for us. All clients coming to us with sitting tenants start on just 4% plus GST.
Once we tenant the property ourselves, the commission bounces back up to what it would naturally be without the sitting tenant discount.
We also offer concessions to individuals or groups who make us proud to be New Zealanders/feel guilty about not doing more. If you or your organisation have a demonstrable history of contributing to the communities and/or environments of Wellington and beyond, let us know about it. We'll help if we can. We'd love to hear your story either way.
We've tried to make our pricing as fair and straightforward as possible but if you're having trouble with the math or would like something clarified please drop us a line. Get in touch with us and we can discuss your needs.
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