To see what letting agent fees amount to is fairly easy. Most estate agents charge around 15% to 20% for a fully managed service which would include a guaranteed rental income every month or for just a rent collect it usually 10% to 12% of the monthly rental income. Then there is the tenant find fee which is usually a full month rent. We however aim to be the cheapest at 9% for a rent collection service and 13% for a fully managed service with no setup fees at all. Whats also amazing is that we only charge £400 for a tenant find service
Letting agent fees in the United Kingdom can vary significantly depending on the area you are in. In this blog post, we will compare different areas across the country to give you an idea of the typical letting agent fees you can expect to pay.
London
Unsurprisingly, London has some of the highest letting agent fees in the UK. It is not uncommon to pay up to 20% of the first year’s rent in fees, which can be a significant amount of money, especially if you are renting a high-end property. Some letting agents in London also charge additional fees for services such as referencing and administration.
South East
The South East of England, which includes cities such as Brighton, Oxford, and Southampton, also has relatively high letting agent fees. The average fee is around 12% of the first year’s rent, although this can vary depending on the location and type of property you are renting.
South West
The South West, which includes cities such as Bristol and Bath, has slightly lower letting agent fees than the South East, with an average fee of around 10% of the first year’s rent. However, some letting agents in this area may also charge additional fees for services such as inventory checks.
Midlands
The Midlands, which includes cities such as Birmingham and Nottingham, generally has lower letting agent fees than the South of England. The average fee is around 8% of the first year’s rent, although this can vary depending on the location and type of property you are renting.
North
The North of England, which includes cities such as Manchester, Liverpool, and Newcastle, has some of the lowest letting agent fees in the UK. The average fee is around 6% of the first year’s rent, although some letting agents in this area may charge additional fees for services such as tenant referencing.