What is Property Management?
Property management is the professional handling of a property’s day-to-day activities and maintenance on behalf of the owner. This may include rent collection, handling maintenance queries, ensuring adequate property owners’ insurance is in place, and handling legal requirements.
Typical Letting Agent Fees to Manage a Property
Hiring a letting agent can take the stress out of managing rental property – but how much does it cost? Letting agent fees vary depending on the level of service you need and where your property is located.
Here’s a detailed guide to letting agent charges, what’s included, and how to compare your options.
Types of Letting Agent Services
Letting agents typically offer three service levels:
Let-Only Service – Marketing and tenant find only
Rent Collection – Adds monthly rent processing (ours is a little more than that, as we also increase rents where possible)
Full Property Management – Ongoing repairs, compliance, tenant liaison
Average Letting Agent Fees in 2025
| Service | Typical Fee |
|---|---|
| Let-Only | 75%–100% of first month’s rent – watch out for % based fees |
| Rent Collection | 5%–8% of monthly rent |
| Full Management | 10%–15% of monthly rent (usually plus VAT) |
Fees vary based on property value, location, and services included.
What’s Included in Full Management Fees?
A full property management package generally covers:
Property marketing and tenant vetting
Rent collection and arrears chasing
Maintenance coordination
Annual safety checks and compliance
Legal notices and eviction handling
Hidden Fees to Watch Out For
Some agents charge extra for:
Renewal fees
Maintenance markups
Check-in/check-out inspections
Serving notices (e.g. Section 21)
Compliance certificates
Always ask for a full fee schedule before signing.
Why Choose Novellus Property Management?
At Novellus, we offer Let Only from just £595 and transparent management packages with no hidden admin fees. Our expert team handles compliance, maintenance, and tenant communication – so you can relax.
👉 View our highly competitive property management fees in Manchester
FAQ – Letting Agent Costs Explained
Can I negotiate letting agent fees?
Yes, especially if you have multiple properties or long-term lets.
Are letting agent fees tax-deductible?
For landlords, most agent fees are deductible as allowable expenses.
What’s the cheapest option?
Let-only is cheapest but comes with much more landlord responsibilities (and potential for fines if not adhered to).
