Property management in London typically varies between 12% to 25% of the rental income, depending on the company you choose to work with.
Managing a property in London can be a great investment, but it can also be incredibly time-consuming. Tenants can be demanding, and being contactable at all times is a 24/7 job.
It’s no surprise then, that so many landlords invest in a property manager to help them with the management of their property.
But what exactly do they do? And how much do they cost in London?
Here’s everything you need to know…
What Do Property Managers Do?
Property managers take on the day-to-day management of a property, covering areas like:
Tenant Management
Whilst tenant management does mean the day to day contact for tenant questions and issues, it also means helping to find them, right at the start of the rental process!
Property managers will be experts in their local area, helping you advertise on the platforms that will attract the highest quality tenants to your property.
Once they manage the viewing process, they will also conduct references and background checks, to spot any red flags early on.
They will then manage all contracts and agreements, making sure that the landlord is compliant legally and that the agreement can cover them in case of an eviction situation.
Property Maintenance
Small maintenance issues can become big problems if not dealt with quickly. Property managers will make sure that the property is inspected regularly, addressing any repair or maintenance issues as soon as they come up.
Property managers will also have their network of local contractors, so you can relax knowing that reliable workers will be on the case as soon as possible.
Rent Collection
Rent collection should be an easy part of the letting process, but with difficult tenants, it can be one of the hardest parts.
Property management companies do all the heavy lifting, chasing tenants when needed and handling disputes if rent is late. Chasing over-due rent can be very time consuming, so having a property manager take this on can be a huge benefit.
Legal Compliance
Property laws change all the time, and it’s important to make sure you are staying compliant. A property manager will be on top of this for you, keeping up with laws, regulations and deposit protection schemes.
If needed, they will manage tenant evictions in compliance with the law – which can be a long and difficult to navigate process.
Emergency Support
In case of an emergency, a property manager – who will likely live near your property – will be able to be on site very quickly.
This can be a huge benefit if something goes seriously wrong, especially for foreign landlords.
Is Having A Property Manager A Good Idea?
Hiring a property manager isn’t just about convenience; it can also be a good move for landlords that want to minimise risk. Some of the main benefits include:
Time-saving: Managing tenants, repairs and paperwork can be incredibly time-consuming. A property manager handles all of these tasks, freeing up your time.
Expertise: Experienced property managers know how to handle difficult tenants, understand legal requirements and are able to accurately make sure your property complies with local regulations.
Better tenant retention: Happy tenants are more likely to renew their leases – making it less likely that you’ll have a break in rent. Property managers are great at creating good tenant relationships, making sure any issues are solved quickly and professionally.
Legal compliance: Landlords have to stay compliant, and the laws around this are constantly changing. A property manager helps you stay compliant, meaning you don’t need to worry about any expensive fines or disputes.
Rental valuation: Property managers are experts in their local areas and can give you advice around rental pricing, making sure you charge competitive rates without undervaluing your property.
Costs of Property Management in London
Property management fees can vary depending on how much help you need. However, they generally are priced as a percentage of the rental income, making them easy to calculate!
At J Property Management, we work with our landlords flexibly to provide the level of service they need. Our costs, which cover properties across South London include:
Full Property Management
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- Cost: 10% of the monthly rental income.
- What’s Included: Everything! Including 24/7 tenant support, rent collection, inspections, and maintenance coordination. This option is ideal for landlords who want a hands-off experience.
Property Management with Guaranteed Rent Collection
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- Cost: 12% of the monthly rental income.
- What’s Included: All the services of full management, with the added benefit of guaranteed rent payments, even if tenants pay late. This is a great choice for landlords that are looking for financial stability.
Rent Collection Only
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- Cost: 7% of the monthly rental income.
- What’s Included: Rent collection and follow-up on late payments, but no management. This is a good option for landlords who want to handle everything themselves but need some help with payments.
Tenant Sourcing
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- Cost: £750, payable at the start of the tenancy.
- What’s Included: Advertising the property, tenant checks and preparing tenancy agreements. The fee is only payable once tenants are placed, and then management is handed over to the landlord.
London Property Management
Hiring a property manager in London can be a game-changer.
It saves time, makes sure you are legally compliant and builds strong tenant relationships — all while protecting your investment.
While costs vary depending on the manager you use, at J Property Management, we pride ourselves on transparent pricing and high-quality services, with no hidden fees.
If you’re ready to speak to us about property management in London, get in touch with us today!
