There are two main services that most letting agents provide:
Tenant Find Only
The letting agents will find tenants for the landlord and charge the landlord a one-off fee and the landlord will manage the tenants in the property. It’s a letting agents less desirable service as they would prefer recurring income.
Full Management
This service is where the letting agent will manage the property and collect the rent from tenants. They can charge the landlord a fee which is usually 10% of the rent every month plus VAT – but it could be higher or lower.
This is the letting agents preferred service as it’s recurring income every single month. And the letting agent’s profitability will very much depend on how many landlords the letting agent has under full management.

The key factor is we pay you the rent and you still get to keep your fee – even though you do not have to do anything and we will now also be managing the property, and the rest goes to the landlord.
Isn’t this amazing, “Get paid the same for no work”

All letting agents are looking for minimal risks, they don’t want to lose a tenant or Landlord. So we aim to build strong working relationships with the letting agents we work with and take away the risks from them.