Most letting agents sell the same three services: tenant find, rent collection and full management. The difference is how much of the landlord's job the agent takes on, and the price gap is large. At the 33 agents we checked, full management cost 9.6% to 20.4% of the rent including VAT, while tenant find was usually a one-off fee.
Here's what each level covers, what stays your responsibility, and how to pick the right one for your property.
What is a letting agent?
A letting agent finds tenants for a rental property and, if you pay for it, manages the tenancy for you. In England, every letting agent must belong to a government-approved redress scheme, and agents who hold your rent or deposit must also belong to a client money protection scheme.
The three levels of service
Tenant find (let only)
The agent markets the property, arranges viewings, references the tenant and sets up the tenancy. After move-in, you manage everything yourself: the rent, repairs, safety certificates and the tenant's calls.
It's usually a one-off fee. Among the Manchester and Leeds agents we checked, it ranged from a £540 minimum to a full month's rent plus VAT.
Rent collection
The agent finds the tenant, then collects the rent each month, chases late payments and sends you statements. Repairs, inspections, certificates and 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 within an agreed limit, inspections, safety certificates, the deposit and notices. At the agents we checked it cost 9.6% to 20.4% of the rent including VAT, with most between 12% and 15.6%. Set-up fees and monthly extras often come on top. Our guide to property management covers what that fee should buy.
What stays your job with tenant find
Tenant find doesn't just save a fee. It hands you the legal duties an agent would otherwise handle. As a landlord in England, these include:
- Deposit protection. Protect the deposit in a government-approved scheme within 30 days and give the tenant the prescribed information.
- Gas safety. Have a Gas Safe registered engineer check the gas appliances every year, and give the tenant a copy of the record.
- Electrical safety. Have the electrics inspected at least every five years, and give the tenant the report.
- Repairs. Keep the structure, heating, hot water and sanitation in repair, whoever manages the let.
- Rent increases and notices. Since 1 May 2026, rent can go up once a year on the prescribed form, and ending a tenancy needs a valid ground and the right notice. Our guide to the new landlord rules has the details.
Most tenant-find agents carry out the Right to Rent check and some protect the deposit as part of setting up the tenancy. The Right to Rent duty only moves to the agent if it agrees in writing, so ask what's included and get it in the contract. Our first-time landlord checklist covers the rest.
Where online letting agents fit
Online letting agents usually charge a fixed fee rather than a percentage of the rent, often paid upfront. They keep costs down by doing less in person: you may have to show tenants round yourself, and local knowledge can be thinner.
They can be good value for tenant find on a property you're happy to manage. For full management, check who actually handles repairs and inspections, how quickly they respond, and whether a local contractor network sits behind the app.
Which letting service should you choose?
- Choose tenant find if you live nearby, have time for calls and repairs, and are confident with the paperwork.
- Choose rent collection if you want help with money and arrears but are happy to arrange repairs and certificates yourself.
- Choose full management if you live far away, work full time, or are an accidental landlord who'd rather not learn the rules as you go. The fee buys time and fewer missed deadlines.
Whichever you choose, compare the yearly cost in pounds, including VAT and extras. On a £1,200-a-month rent, the difference between a 12% and an 18% fee is £864 a year. Our page on letting agent fees shows how to check yours.
Can you change service later?
Usually, yes. Many agents will move you from tenant find to full management mid-tenancy, and some let you step down. Check the notice period and any fees in your contract first. If you're moving to a different agent, our 12-week switching plan shows how to move the deposit, rent and paperwork in the right order.
This guide is general information about letting in England, not legal or financial advice. Fees change, so check an agent's current schedule before you decide.