Landlords ask for a percentage. A serious answer starts with what the percentage is supposed to buy.

What is usually in a London quote

Full management of a residential let is often quoted as a percentage of the rent collected, commonly somewhere in the region of 8% to 15% plus VAT. A separate letting fee is common when a new tenant is found, sometimes a few weeks' rent, sometimes another percentage. Commercial management is often a different figure again, because the lease and the service charge take more time than a standard assured tenancy used to.

Those are market ranges landlords hear, not the NPS price list. A flat in Croydon and a portfolio of twelve are not the same instruction. NPS quotes in writing after looking at the property, the tenancy, and what you want included. Do not treat any number in this article as our fee.

What the fee should include

Before you compare two percentages, list the work:

  • Rent collection and arrears chasing
  • Repairs up to an agreed limit, and a call before anything above it
  • Compliance dates: gas safety, electrical report, EPC, alarms, deposit
  • Inspections and a written note
  • Contractor invoices you can read
  • A statement of money in and money out
  • Someone on the end of a phone when a pipe fails out of hours

A low percentage that excludes inspections, arrears, and renewal paperwork is not cheaper. It is a letting fee with a management label.

How to compare two agents

Put both quotes next to the 25-point health check. Ask each firm who the named manager is, how often they inspect, and what the last three statements for a similar property look like. If they cannot show a statement, the percentage is not the issue.

VAT, a setup fee, an inventory fee, and a check-out fee change the real cost. Ask for them on one page.

What NPS will and will not do

We will price the instruction you actually have: one residential let, a commercial unit, or a portfolio. We will not publish a "from 5%" banner that only applies if you decline half the service. If you want the comparison, send the current agent's fee schedule with the review form. The review is free. The management fee, if you instruct us, is the written quote that follows.