Letting Agent Fees - How Much Should a Landlord Pay?
Thursday 26th January 2023
Letting Agent Fees - How Much Should a Landlord Pay?
Letting agents charge landlords fees for various buy to let services, from sourcing and referencing a tenant to property management options ranging from rent collection to full management. Letting agents also charge fees for other services, such as inventory and check-in/out, and it is important to know what these fees are before you sign a contract.
Buy to Let property investors should compare agent fees and look at exactly what they get for the money.
Tenant find only
You may decide to use a letting agent in Liverpool to source and reference a tenant and then manage the property yourself. Many letting agents in Liverpool will charge a month's rent or more for that service. Tuna Fish Property will source a fully referenced tenant for only £295.
Tenant find and management
If you are taking the Tuna Fish Property full-management package, then the tenant find is only £149. This includes the [Let Alliance= https://www.letalliance.co.uk/] global referencing package, probably the best in the property management industry.
Fully managed
Fully managed service fees vary dramatically. Some agents charge as much as 19% which is high, whilst most are in the 10% to 12% range. Tuna Fish Property will fully manage your Liverpool property investment for 7.95%.
Net Profit
Your net profit is your rent minus costs. If you have a buy to let mortgage, this is likely your biggest cost, followed by letting agents fees. Property investors spend a lot of time finding buy to let mortgages with the lowest costs, but then some choose to use letting agents in Liverpool or elsewhere with the highest fees. This makes little financial sense and particularly in 2023, buy to let investors should look to:
Reducing costs and raising rents
Tuna Fish Property can help. Please contact us now for a free review and a proposal to increase your monthly cash flow and profit.
