Landlords often begin by asking the same question: how much of the day-to-day work do I want to hand over, and how much do I want to keep control of myself? Mistoria Estate Agents offers four levels of service so landlords can choose the right amount of support rather than a single one-size-fits-all package. The right service depends on your experience, time, location, portfolio size and how involved you want to be once the tenancy begins.
Tenant Find Only – getting the tenancy started
Tenant Find Only is designed to get the tenancy started for a fee of one month’s rent. It covers advertising, enquiries, viewings, referencing and the tenancy paperwork needed to move a tenant in. After that, day-to-day responsibility returns to the landlord. For an experienced local landlord with time to deal with repairs and tenant communication, this can be a practical and lower-cost option. A separate tenancy set-up fee of 50% of the first month’s rent applies to prepare the paperwork and check the tenant in.
Part Management – rent collection without full oversight
Part Management, sometimes described as rent collection only, sits between Tenant Find and full management. It costs 25% of the first month’s rent plus 8% of the rent collected thereafter, and gives a landlord support with collecting and chasing rent without handing over full day-to-day responsibility for the property. This can suit a landlord who wants to manage maintenance and tenant contact personally but wants the financial administration handled professionally.
Standard Full Management – the main point of contact
Standard Full Management costs 12% of the rent received and continues beyond move-in. The agent becomes the main point of contact for the tenant, coordinates maintenance, monitors rent, carries out agreed inspections and helps keep the tenancy administration organised. For a landlord with one or two properties, an overseas owner, or anyone with a demanding day job, that can remove a significant operational workload.
Portfolio Management – a lower rate for larger holdings
Landlords with five or more properties can move to Portfolio Management at 10% of the rent received, the same full-management service at a reduced rate that reflects the efficiencies of managing a larger holding through one relationship.
The compliance difference
Regulation has become one of the strongest reasons landlords choose professional management. The Renters’ Rights Act has added further requirements to the way tenancies are operated in England, and HMO licensing breaches under the Housing Act 2004 can attract fines of up to £30,000. Even experienced landlords need systems for notices, records, rent reviews, deposits, safety documentation and communications. Management does not remove the landlord’s legal responsibility, but a competent agent can help ensure important processes are not missed – our standard possession notice fee of £100 including VAT and court appearance fee of £150 including VAT per day reflect work that would otherwise fall to the landlord to manage alone.
Consider the cost of your own time
Management fees are visible; the cost of self-management is less obvious. Time spent arranging contractors, chasing rent, answering messages, conducting viewings and keeping up with legislation all has a value. The right comparison is therefore not simply fee versus no fee, but fee versus the time, systems and expertise you would otherwise provide yourself.
Choose based on the property as well as the landlord
A straightforward single let may require less ongoing administration than a larger HMO or multi-property portfolio. More tenants, more communal areas and more maintenance points usually mean more management. The service should match the complexity of the asset, and our HMO management guidance for landlords in Salford and Liverpool goes into more detail for shared properties specifically.
The Mistoria view
If you enjoy hands-on property management and have the systems to do it well, Tenant Find or Part Management may be enough. If you want the investment without the day-to-day operational burden, Standard or Portfolio Management can be worth considering. Ask us for a written comparison against your specific property so you can see the real cost and service difference side by side.
