Cost guide
How much does a Letting agent (full management) cost?
Thinking about letting out your property? Choosing a full management letting agent can bring real peace of mind. It means your investment is expertly looked after, taking the day to day worries off your shoulders. This service typically includes finding and vetting reliable tenants, managing the tenancy agreement, collecting rent, and handling all property maintenance. They are your tenants' first point of contact, ensuring everything runs smoothly from start to finish.
Typical price
£300 to £1,500
What changes the price
Property location
Costs can vary significantly depending on whether your property is in a high demand city or a quieter rural area.
Property size
Larger properties or those with more complex features might incur slightly higher management fees due to increased work.
Agent's experience
Highly experienced or well regarded agents might charge a little more for their proven expertise and service quality.
Service inclusions
Some agents offer more extensive insurance or dedicated legal advice within their standard package, affecting the overall price.
Market demand
Areas with strong rental demand might see different pricing structures compared to less competitive markets.
Contract length
Longer management contracts can sometimes come with a more favourable monthly percentage rate for you.
Prices by region
| Region | Low | Typical | High |
|---|---|---|---|
| London | £600 | £1,200 | £1,500 |
| South East | £500 | £900 | £1,300 |
| South West | £450 | £800 | £1,100 |
| East of England | £400 | £750 | £1,050 |
| Midlands | £350 | £700 | £1,000 |
| North West | £320 | £650 | £950 |
| North East and Yorkshire | £300 | £600 | £900 |
| Scotland and Wales | £300 | £580 | £880 |
Questions people ask
What does 'full management' truly cover?
It means the agent handles almost everything for you. This includes finding tenants, collecting rent, arranging repairs, and managing day to day tenant communications. It aims to make your landlord experience as stress free as possible.
Are there any extra costs I should know about?
Sometimes, certain services like extensive legal advice or specific types of insurance might be an additional charge. Always check your agreement carefully to understand what's fully included and what might cost extra.
How does the agent charge for their service?
Most full management agents charge a percentage of the monthly rent, plus an initial setup fee for finding tenants. This setup fee can be a fixed amount or a percentage of the first month's rent. Make sure you understand both parts of the cost.
Is referencing included in the full management package?
Yes, comprehensive tenant referencing is usually a standard part of a full management service. This helps ensure you get reliable tenants who are thoroughly checked. It is a crucial step in protecting your investment.
Will the agent handle property repairs and maintenance?
Absolutely. A key part of full management is coordinating all necessary repairs and maintenance. They typically use trusted local contractors and will keep you informed, often seeking your approval for larger expenses.
Can I switch agents if I'm not happy?
Your contract with the agent will outline the terms for ending the agreement. There's usually a notice period, and sometimes a cancellation fee if you end it early. It's always wise to review these terms before signing.