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Managing Agent Fees

jellynose
Posts: 475 Forumite
Hi
I am going to rent out my house and wondered if anyone could give me approx of how much letting agents charge to get a tenant and also a rough idea of management fees they charge.
Thanks
I am going to rent out my house and wondered if anyone could give me approx of how much letting agents charge to get a tenant and also a rough idea of management fees they charge.
Thanks
Jellynose
0
Comments
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It varies depending on where you are in the country and how good your haggling skills, but the ballpark from my own (admittedly limited experience) is:
For getting a tenant - Assume you'll wave goodbye to anywhere between 50% and 150% of your monthly rent in fees - On top of the tenant finding fee you may also have separate referencing fees, contract fees, inventory fees, deposit protection fees and various others.
For management - between 6% and 16% are figures i've seen, make sure you're looking at the TOTAL % quoted by your chosen agent (as many split rent collection and management into different %'s) - From local experience this is normally negotiable by 2-4% relatively easily.
Your best bet to find out for the area you're in though, is to simply ask your local lettings agents.0
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