Cheapest Letting Agent Fees – Where to Look and Should You Go With the Cheapest?

When landlords search for a letting agent, one of the first questions they ask is “how much will it cost?”. Letting agent fees can vary significantly depending on the type of agent you choose, the services offered, and the structure of the business.

Some agents charge 10–15% of the monthly rent for full management, while others may offer services for a fraction of that price.

However, the cheapest option is not always the best option. In this guide, we look at where you can find the cheapest letting agent fees, the different types of agents available, and whether choosing the cheapest option is the right decision for your property.

Quick Summary

• Traditional high street letting agents are usually the most expensive because they operate physical offices and have higher overhead costs.
• Hybrid agents such as Ewemove or Accommodation.co.uk are often cheaper because they have no high street office but still use local representatives.
• Online letting agents can be even cheaper, but they usually do not provide a local agent, with many services outsourced.
• DIY landlord platforms such as OpenRent or Hello Neighbour are often the cheapest because landlords manage most of the process themselves.
• The cheapest option is not always the best. Lower fees can sometimes lead to poorer marketing, slower tenant placement, or longer void periods.
• If you are a hands on landlord who lives locally, a cheaper option may work well. Otherwise a more comprehensive service may be worth the extra cost.

Why High Street Letting Agents Are Usually the Most Expensive

Traditional high street letting agents are often the most expensive option available to landlords.

This is largely due to their overhead costs. High street agents typically operate from physical offices in prominent town centre locations. These offices come with significant expenses, including:

• Commercial rent
• Office staff
• Shopfront branding
• Utilities and insurance
• Local advertising

Because of these overheads, many high street agents charge higher management fees, often between:

• 10% to 15% of the monthly rent for full property management
• Additional charges for services such as inventories, renewals, and inspections

The advantage of high street agents is that they typically provide a comprehensive, hands on service, with experienced staff managing the tenancy from start to finish.

But for landlords who are comfortable being more involved in the process, there may be cheaper alternatives.

Hybrid Letting Agents – A Lower Cost Local Option

A newer type of letting agent that has become popular in recent years is the hybrid agent.

Hybrid agents combine elements of traditional estate agents with online services. They usually do not operate expensive high street offices, which significantly reduces their operating costs.

Instead of a shopfront branch, hybrid agents typically have local property experts or representatives who cover specific geographic areas.

Examples of hybrid style agents include:

• Ewemove
• Accommodation.co.uk

Because these agents avoid the cost of high street premises, they can often offer lower fees while still providing a local service.

Typical characteristics of hybrid agents include:

• No physical high street office
• A local property representative covering the area
• More flexible pricing structures
• Digital systems for communication and updates

For many landlords, this offers a good balance between price and service. You still have someone local who understands the market, but the fees are often lower than traditional high street agents.

Online Letting Agents – Low Fees but Limited Local Support

Online letting agents are another option for landlords looking for cheaper fees.

These businesses operate entirely online, with most services delivered through digital platforms and centralised teams rather than local offices.

Because they do not employ local staff in each area, their costs are lower, and they can offer very competitive pricing.

However, there are trade offs.

Many online agents rely on outsourced services for key parts of the letting process, such as:

• Property viewings
• Inventories
• Inspections
• Tenant referencing

Communication may also be handled through call centres or online support teams, rather than a dedicated local agent.

For landlords who are comfortable managing parts of the process themselves, online agents can be a low cost solution.

DIY Landlord Platforms – The Cheapest Option

If you want the absolute lowest cost option, there are platforms designed specifically for DIY landlords.

These services are not traditional letting agents. Instead, they provide tools that allow landlords to manage the letting process themselves.

Platforms such as:

• OpenRent
• Hello Neighbour

allow landlords to:

• Advertise properties on major property portals
• Collect tenant enquiries
• Arrange viewings directly
• Manage referencing and contracts

Because the landlord handles most of the work, these services are typically much cheaper than full service letting agents.

However, they also require the landlord to take responsibility for many aspects of the tenancy.

Should You Always Choose the Cheapest Letting Agent?

While saving money on fees is appealing, it is important to consider what you receive for the price.

A cheaper agent may offer fewer services, less support, or slower response times.

In some cases, a very cheap agent could cost you more in the long run if issues arise such as:

• Longer void periods between tenants
• Poor tenant referencing
• Rent arrears problems
• Slow maintenance responses
• Weak marketing of the property

An experienced agent who charges slightly more may actually save landlords money over time by securing tenants faster and managing the tenancy more effectively.

When Cheaper Letting Agent Fees Might Make Sense

Cheaper agents can be a good choice in certain situations.

They may suit landlords who:

• Live close to the property
• Are comfortable arranging viewings themselves
• Are happy to deal with tenants directly
• Already understand the legal responsibilities of being a landlord

For hands on landlords, paying high management fees for services they rarely use may not make sense.

In these cases, a hybrid agent, online agent, or DIY platform could be a more cost effective solution.

The Key Is Finding the Right Balance

Choosing a letting agent should not be based on price alone.

The goal is to find the right balance between cost, service, and expertise.

A good agent can:

• Reduce void periods
• Find reliable tenants
• Ensure legal compliance
• Handle maintenance efficiently
• Protect your long term rental income

Even a small difference in tenancy performance can outweigh the savings from choosing the cheapest agent.

Compare Letting Agent Fees Before You Decide

The best approach for landlords is to compare multiple letting agents in their local area before making a decision.

Fees, service levels, and local expertise can vary significantly between agents.

Using a comparison platform like Rentround allows landlords to:

• Compare letting agents in their area
• See different fee structures
• Review services offered
• Choose the agent that best suits their needs

This helps landlords make an informed decision rather than simply choosing the lowest price.