If you engage a real estate agent to look after your property rental, the costs can be rather high compared with the service actually received. Typically, the cost is a weeks rent to find a tenant, plus GST, and then 8.8% to collect the rent and do the ongoing management. On rent of $550 a week, assuming that you have a tenant change once a year, the cost is over $3,000 a year.
If you live near your rental property, and don't mind learning how to legally comply with rental laws (the RTA website has good information), then Rent My Estate is a good service for landlords. It helps manage the realestate.com.au advertising process, and is expanding into other programs for landlords (such as recording rents received). Readers of this blog will receive a $20 discount via this link shared by a reader - thanks John. The savings year on year could be substantial, if you are prepared to put in the time yourself to do things properly. There is also a good blog on that site.