How much do letting agents charge? What 33 agents publish in 2026

Letting agents charge very different amounts for the same job. We checked the fees 33 agents publish in London, Birmingham, Manchester, Leeds and Sheffield. For full management, they ranged from 9.6% to 20.4% of the rent once VAT is added. On an average rent, the gap between the cheapest and dearest agent in the same city is worth £800 to £2,350 a year.

Here's what each level of service costs, what the headline rate leaves out, and how to make sure you're not overpaying.

Three levels of service

Most agents sell three levels of service. The more they do, the higher the fee.

• Tenant find (let only). The agent markets the home, holds viewings, references the tenant and sets up the tenancy. After that, you manage. It's usually a one-off fee: among the Manchester and Leeds agents we checked, it ran from a £540 minimum to a full month's rent plus VAT.
• Rent collection. The agent collects the rent, chases late payments and sends statements. Repairs, safety certificates and legal notices stay with you. It's charged as a percentage of the rent, usually a few points below full management.
• Full management. The agent runs the let day to day: rent, repairs, inspections, safety certificates, the deposit and notices. It's the most expensive level, and where the gap between agents is widest.

What agents charge for full management

These are published full-management fees with VAT added. Most landlords can't reclaim VAT on residential lets, so this is what you actually pay.

• London: 12% to 20.4%. Eleven agents. The best-known names charged 18% to 20.4%; local independents mostly 12% or 14.4%.
• Birmingham: 12% to 19.2%. Five agents, three of them at the bottom of the range.
• Manchester: 9.6% to 15.6%. Five agents, including the cheapest fee we found anywhere.
• Leeds: 12% to 19.2%. Six agents, most of them between 13.2% and 15.6%.
• Sheffield: 12% to 19.2%. Six agents, two of them with a £900 minimum fee a year.

In every city, at least one agent charged 12% or less, and at least one charged 15.6% or more. Most of the 33 agents sat between 12% and 15.6%; the big London names were the outliers at the top.

What that means in pounds

Percentages hide how much money is at stake. On each city's average rent, here's the yearly cost at the cheapest and dearest published fee:

• London, £2,332 a month: about £3,360 to £5,710 a year
• Manchester, £1,373 a month: about £1,580 to £2,570 a year
• Leeds, £1,145 a month: about £1,650 to £2,640 a year
• Birmingham, £1,099 a month: about £1,580 to £2,530 a year
• Sheffield, £931 a month: about £1,340 to £2,150 a year

Over five years, the London gap alone comes to about £11,750, before rents rise.

The extras the headline rate leaves out

Two agents with the same percentage can cost very different amounts once extras are added. These are the ones we saw most:

• Set-up fees. £300 to £795 for a new tenancy at the agents we checked outside London, and £385 or £450 at two of London's big names. Some charge separately for the inventory.
• Monthly charges. Compliance fees of £11.40 to £48 a month on top of the percentage.
• Minimum fees. £900 a year at some agents, which can push the real rate well above the headline on a cheaper let.
• Rent increase fees. £30 to £300 for serving the yearly rent increase notice, among London's big names.
• Commission on works. A percentage added to contractor invoices and major works.
• Renewal fees. Since 1 May 2026, tenancies roll on month to month, so a fee tied to a 'renewal' may have nothing to attach to. Our guide to exit fees and ongoing commission explains what to look for.

What full management should include

For a full-management fee, expect the agent to collect the rent and chase arrears early, handle repairs within an agreed limit, inspect the property, keep gas, electrical and EPC certificates in date, protect the deposit, and serve notices on the right forms. Since May 2026 that also means keeping up with the Renters' Rights Act, such as answering pet requests within 28 days.

Agent fees are generally an allowable expense when you work out tax on rental profits, which softens the cost. It doesn't change which agent is better value.

How to pay less

1. Get three quotes. Ask each agent for the full fee schedule, not just the headline rate.
2. Compare in pounds, including VAT. Work out the yearly cost on your rent, extras included.
3. Ask your current agent to match. Agents set their own fees, and many will negotiate rather than lose a well-run property.
4. Read the exit terms before you sign. Check the notice period, any exit fee and any commission on tenants the agent introduced.
5. If you switch, do it in order. The deposit, the rent and the paperwork all have to move. Our 12-week switching plan shows how.

How we gathered these figures

We used the full-management fees published by 33 agents with branches in London (11), Birmingham (5), Manchester (5), Leeds (6) and Sheffield (6), adding VAT where an agent quoted it separately. We checked agents' fee pages in October 2026. For five big London names we used fee schedules compiled in July 2026 by The Independent Landlord, each sourced to the agent's own page. Many agents only quote on request, so treat this as a guide to the spread, not a survey of the whole market. Average rents come from the ONS Price Index of Private Rents for August 2026.

This guide is general information, not financial advice. Fees change, so check an agent's current schedule before you decide.