Property management fees, explained

Management fees are simple once you know what each charge is for. This page sets out how property management is priced, what each fee covers, and how we agree ours with you. This page covers residential management. Commercial fees follow the lease, and we cover them below.

The management fee.

The management fee is a percentage of the rent we collect, charged as the rent comes in. It covers the day to day running of the tenancy: rent collection and arrears follow up, routine inspections, maintenance coordination, tenant communication, documented notices, diarised key dates such as renewals and rent reviews, and your monthly statement with an end of financial year summary for your accountant.

The letting fee.

The letting fee is a one off charge each time a new tenant is placed. It covers the work of finding the right one: open homes and private viewings, processing applications, full reference and background checks on every applicant we put in front of you, preparing a lease structured to hold up, collecting and lodging the bond, and the ingoing condition report.

Other charges owners see.

Two more items appear on statements from time to time. Advertising for a vacancy, which pays for the portal listing and photography, and any charge tied to a specific piece of work set out in the management agreement, such as attending a tribunal hearing on your behalf. Every charge we make appears in the management agreement before you sign it. If a fee is not in the agreement, it will not appear on a statement.

Managing a commercial property?

Commercial fees are structured against the lease rather than the weekly rent: a management fee on rent collected, outgoings budgeted and recovered as the lease provides, and leasing fees agreed per transaction. The detail lives with our commercial service.