What a Property Manager Actually Does
Property management services range from basic tenant-finding to full management where you're barely involved at all. Understanding what each level covers helps you decide what makes sense for your situation.
Types of Property Management Service
Let Only
The agent finds a tenant, conducts referencing, and sets up the tenancy agreement. After that, you manage the property yourself. Typical cost: 8 to 12 per cent of the first month's rent, or a fixed fee of £400 to £800.
Rent Collection
As above, plus the agent collects rent monthly, chases arrears, and pays you the net amount. Typical cost: 8 to 12 per cent of monthly rent.
Full Management
The comprehensive service — finding tenants, referencing, rent collection, maintenance coordination, legal compliance, inspections, and dealing with issues. Typical cost: 12 to 20 per cent of monthly rent.
What Full Management Includes
- Marketing and accompanied viewings
- Tenant referencing and right-to-rent checks
- Deposit registration with a government-approved scheme (DPS, MyDeposits, or TDS)
- Monthly rent collection and arrears chasing
- Arranging repairs via approved contractors
- Regular property inspections
- Advising on compliance — EPC, gas safety certificates, EICR, smoke and CO alarms
Legal Compliance: Why This Matters
UK landlord law has become considerably more complex. A property manager keeps track of: annual gas safety certificates (legally required), five-yearly EICRs (required in England), EPC minimum band E, smoke alarms on every floor, CO alarms in rooms with combustion appliances, and Right to Rent checks.
Is It Worth the Cost?
For most landlords with more than one or two properties, full management is worth the cost. Time savings are significant, and a good manager reduces void periods. A single deposit dispute or compliance failure can cost far more than a year of management fees.
How to Choose a Property Management Company
Check for ARLA Propertymark or RICS membership. All agents in England must be registered with a client money protection scheme and belong to a redress scheme (The Property Ombudsman or Property Redress Scheme). Ask how many properties each manager handles — if one person manages 200+ properties, response times may suffer.