Rental Property Management Melbourne — Services, Fees & What to Expect (2026)

Ongoing management is charged as a percentage of monthly rent collected: 4.90% + GST for a single tenancy, 6.90% + GST for dual occupancy (house plus granny flat), and 8.90% + GST for multi-tenancy or rooming-house configurations of three or more leases. All fees are outlined before engagement — there are no hidden charges.

The letting fee is a one-time charge when a new tenant is placed: one week's rent for a standard placement, or two weeks' rent where the placement includes renovation supervision. It sits alongside the ongoing percentage fee, not inside it.

An REA Premier listing costs $217-$280 + GST depending on location, and a "Leased" board sign is $163 + GST. These are the two standard marketing line items for a new tenancy campaign.

VCAT application fees are set by the Victorian Government under the VCAT (Fees) Regulations and are updated on 1 July each year — we pass them through at cost, with the current amounts published on the VCAT fees page. Tribunal attendance on your behalf is $200 + GST per hearing.

The Melbourne industry standard is one property manager handling 170 or more properties; OptimaRea caps each manager at 50. The tighter ratio is what produces faster response times, fewer errors and closer attention per property — which translates into fewer vacancies and better tenant quality.

Behind each manager sit four specialised departments: a Reno Team preparing properties to Victorian Minimum Rental Standards, a Renting Team of full-time leasing specialists handling advertising, inspections and applications, an Ongoing Team covering rent collection, maintenance, inspections, VCAT preparation and renewals, and a Local Team on the ground in Melbourne for physical inspections, key handovers and tribunal attendance.

A 4-point system: a financial check (rent at or below 30% of total verifiable income, evidenced by payslips, bank statements, employment letters or benefit statements), a TICA and Equifax credit check for prior defaults and tribunal orders, previous-landlord and employer references, and visa verification for non-citizen applicants covering the full lease term.

No. Screening assesses whether income is sufficient and evidenced, not where it comes from. Payslips, bank statements, employment letters and benefit statements are all acceptable evidence — the 30% affordability test is applied to total verifiable income regardless of source.

A 12-month initial lease, with a rent review conducted two to three months before expiry. That review window is what allows a renewal or re-letting decision to be made without the property drifting into an unplanned vacancy.

Victorian law does not allow pets to be refused without a documented reason. The practical protection is at exit: tenants with pets are required to cover professional steam cleaning and any damage beyond normal wear and tear.

New properties typically receive applications within 3-12 days of listing. Advertising begins five days before the property is ready for occupancy, so the campaign is already running when the property becomes available.

Dual occupancy — 6.90% + GST of the total rent collected across both tenancies. It covers separate leases, separate screening, separate condition reports and coordinated maintenance across the two dwellings.

Properties running three or more leases on one title — rooming-house style configurations. The higher tier reflects multiple tenant relationships, more frequent turnover and advertising, split-bills management and rooming-house compliance monitoring.

The Ongoing Team prepares the evidence — rent ledger, condition reports, communication logs and notices served — and the Local Team attends VCAT on your behalf. Application fees pass through at cost and attendance is $200 + GST per hearing, disclosed upfront.