Plenty of landlords manage their own property well. Plenty of others pay an agent and get very little for it. So the honest answer to this question is that it depends on you, the property and how far you are from it. We manage property for a living, and we also own property, so what follows is the comparison we would make for ourselves.
What managing a tenancy actually involves
Strip out the marketing and the two or three visits a year and the job is mostly this:
- Answering the phone when something breaks, including at 9pm on a Sunday
- Finding a plumber, electrician or roofer who will turn up, at a fair price, in a town you may not live in
- Checking the work was done and paying the invoice
- Knowing which certificate expires when, and renewing it before it does
- Reconciling rent every month and acting on the day it is late
- Keeping a written record of everything, because in England the record is the case
- Serving the right notice on the right form when a rent increase or possession is needed, and knowing that the wrong one costs you a year
- Answering a pet request within 28 days with a lawful reason if the answer is no
- Knowing that the rules changed on 1 May 2026 and what changed
None of that is hard. All of it takes time in working hours, and the legal parts carry penalties if they are wrong.
When self-managing works
Self-management tends to work when most of these are true.
- You live within about half an hour of the property
- You have flexibility during the working day to meet contractors
- You have one or two properties, not eight
- You already have trades you trust
- You read landlord news and keep up with changes, and you enjoy it
- You are comfortable having difficult conversations about money with someone who lives in your house
If that is you, an agent will not add much and 15% is real money.
When it stops working
- Distance. A landlord in Surrey with flats in Newcastle cannot meet a contractor, do an inspection or check a repair without a day off and a train ticket. This is the single most common reason landlords instruct us.
- Scale. At four or five properties the admin becomes a part-time job. At ten it is a job.
- A difficult tenancy. Arrears, antisocial behaviour or a possession claim under the new grounds are where self-managing landlords most often make the expensive mistake, usually by doing the right thing in the wrong order.
- Life. A new job, a young family, a health problem, a move abroad. The property does not know.
The cost side, honestly
Take a property let at £1,200 a month.
| Option | Annual cost including VAT | What you still do |
|---|---|---|
| Self-manage, with a let only agent to find the tenant | Around £1,380 in year one, nothing after | Everything, once the tenant is in |
| Rent collection at 10.8% | £1,555 a year | Repairs, inspections, compliance |
| Fully managed at 15% | £2,160 a year | Approve quotes above your float, read the statement |
Management fees are deductible against rental income, so for a higher rate taxpayer the net cost of full management on that property is around £1,300 a year, or £25 a week.
Set against that the cost of getting one thing wrong. A tenancy started without the deposit prescribed information can mean a penalty of up to three times the deposit. Letting a property that needs a licence without one can mean a rent repayment order of up to twelve months' rent. A possession notice on an out-of-date form means starting again. None of these is a reason to panic. They are a reason to be honest about whether you will keep on top of it.
The middle option
Rent collection is the service most landlords forget exists. The agent finds the tenant, collects the rent, chases arrears from day one, sends the statements and serves the Section 13 notice each year. You keep the repairs, the inspections and the relationship with the property. It suits landlords who live near the property but do not want to chase money, and it costs a third less than full management. Our fees page sets out the three options side by side.
Questions to ask any agent, including us
- Is the fee quoted including VAT?
- Are contractor invoices passed on at cost, and can I see them?
- What happens if I want to leave, and what does it cost?
- Who is my point of contact and can I ring them directly?
- How often do you inspect, and do I get photographs?
- What did you change in your tenancy agreement and procedures for the Renters' Rights Act?
An agent who cannot answer the last one quickly is not managing anything.
If you would like a written proposal for your property, with the fee and what it includes on one page, request one here. If you decide to carry on self-managing, our compliance checklist is free and is the list we use ourselves.