Property management companies support residential landlords by handling rental property operations. Services vary but typically include property marketing, tenant sourcing, rent collection, and legal compliance.
Contrary to popular belief, property management isn’t all-or-nothing. Landlords can choose flexible service levels, fee structures, and involvement options.
In this guide, we’ll explore:
✔ What property management companies do
✔ Typical services & costs
✔ How to decide if hiring one is right for you
✔ Key factors when comparing providers
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What Is Property Management?
Property management involves overseeing rental properties on behalf of landlords. A property management company handles administration, tenant relations, and legal compliance, reducing landlord workload.
What Do Property Management Companies Include?
Most property management companies offer:
✅ Tenant acquisition – Advertising, viewings, referencing
✅ Tenancy setup – Lease agreements, deposit registration
✅ Rent collection – Ensuring timely payments
✅ Legal compliance – Safety certificates, eviction support
✅ Maintenance – Repairs, inspections, emergencies
Additional services may include:
– Rent protection insurance
– Full property accounting & tax support
– Dedicated landlord portals
Types of Property Management Services
1. Percentage-Based Management (6% – 15% of rent)
– Tenant-find only (~6%) – Covers marketing & tenant placement
– Full management (10%-15%) – Includes rent collection, maintenance, and legal support
Note: Check if fees include VAT.
2. Fixed-Fee Management (£50 – £150/month)
– Cost-effective for high-rent properties (e.g., London)
– No percentage taken from rental income
3. Rent-to-Rent Management
– Company pays landlord a fixed rent, then sublets for profit
– Lower landlord involvement but may reduce income
Do You Need a Property Management Company?
Consider hiring a property management company if you:
✔ Own multiple properties
✔ Live far from your rental
✔ Lack time for tenant issues
✔ Want legal & financial security
Self-management may work if you:
✔ Have one property nearby
✔ Enjoy hands-on landlord tasks
✔ Want to save on management fees
5 Key Factors When Choosing Property Management Companies
1. Budget – Compare % fees vs. fixed rates
2. Time commitment – Can you handle tenant issues?
3. Pain points – What tasks do you struggle with?
4. Control level – Do you want decision-making power?
5. Reviews – Check Google & Trustpilot ratings
Pro Tip: Use a Property Management Comparison Table to evaluate costs.
Pros & Cons of Property Management Companies
✅ Benefits
✔ Saves time – No tenant calls or maintenance hassles
✔ Legal compliance – Avoid fines for missed regulations
✔ Faster tenant placement – Professional marketing & screening
✔ Stress reduction – Handled by experts
❌ Drawbacks
✖ Costly fees (up to 15% of rent)
✖ Less control over tenant decisions
✖ Varying service quality – Research is key
FAQs
1. What services do property management companies offer?
They handle tenant sourcing, rent collection, maintenance, and legal compliance. Some offer eviction support, financial reporting, and custom packages.
2. How much do property management companies charge?
– Percentage-based: 6%-15% of rent
– Fixed-fee: £50-£150/month
– Additional costs: Maintenance, legal fees
3. How do I choose the best property management company?
✔ Compare services & fees
✔ Read landlord reviews (Google, Trustpilot)
✔ Check contract flexibility
✔ Ensure local market expertise
4. Is property management worth it for small landlords?
If you have one property and time, self-managing may save costs. For multiple properties or busy landlords, hiring a property management company is often worthwhile.
Final Verdict: Is a Property Management Company Right for You?
If you value time savings, legal protection, and hassle-free rentals, a property management company could be ideal. Compare providers to find the best fit for your budget and needs.
About LettingaProperty.com
At LettingaProperty.com, we provide modern, affordable property management solutions for UK landlords. From tenant sourcing to full management, we help landlords maximise profits with transparent pricing and expert support.
📞 Contact us today to streamline your rental experience!
