Let-only vs full management
One of the first decisions many landlords face is whether to ask an agent to handle everything or just help find tenants. There isn’t a single right answer – it depends on your time, experience and how close you are to the property.
This guide highlights what’s usually included in let-only and full management services, how the costs differ and the questions to ask when deciding which option is right for you.
What let-only includes
Let-only is designed for landlords who are comfortable managing the tenancy themselves once the tenant has moved in.
- Advertising the property and handling enquiries
- Arranging and carrying out viewings
- Tenant referencing and right-to-rent checks
- Preparing the tenancy agreement and basic move-in paperwork
- Collecting the first month’s rent and deposit (often passed to a scheme you choose)
Once the tenant is in, you usually become the main point of contact for maintenance, rent collection, inspections and renewals. Let-only often works best for local, hands-on landlords who have the time and confidence to manage day to day.
What full management includes
Full management builds on let-only and is aimed at landlords who want a single point of contact to handle most aspects of the tenancy.
- Everything in let-only, including marketing, viewings and referencing
- Being the main point of contact for tenants
- Collecting rent and chasing late payments
- Coordinating maintenance and repairs with agreed spending limits
- Carrying out periodic inspections and providing reports
- Handling renewals, rent review discussions and serving notices where required
Full management tends to suit landlords who live further away, have limited time, own multiple properties or simply prefer not to be the first line of contact for every issue.
Cost differences
Let-only is usually charged as a one-off fee (sometimes linked to a percentage of the first year’s rent), while full management is typically a monthly percentage of the ongoing rent.
Management fees are higher because the agent is doing more work throughout the tenancy, but in return you may see fewer void periods, quicker responses to issues and less risk of falling behind on legislation.
A simple way to compare is to look at the total expected cost over a year on a typical rent, then ask yourself how much time and stress the extra fee might save you.
Questions to ask yourself
- How close am I to the property if something goes wrong?
- How confident am I with current lettings legislation and compliance?
- Do I have someone who can step in if I’m away or unwell?
- Roughly how much is my time worth each month?
Questions to ask agents about service levels
- What exactly is included in let-only vs full management?
- Who makes maintenance decisions and how are costs approved?
- How do you update landlords on issues and inspections?
- What happens if I want to change service level later?
Using LetCompare to compare service levels
Once you’re clear on how involved you want to be, you can use LetCompare to see how let-only and full management fees from different agents stack up in your area.
That makes it easier to shortlist a few agents whose pricing and service mix look sensible, then use meetings and valuations to decide who you trust to look after your property.
Compare letting agent fees in my area