If you’re a landlord in South Wales, understanding letting agent fees can help you make the most of your property investment while staying on top of the legalities and practicalities of renting out a home. Whether you’re a seasoned landlord or just starting, this guide is designed to break things down into simple, actionable steps.
What Are Letting Agent Fees?
Letting agent fees are what landlords pay for professional services to help manage their rental properties. These fees can cover everything from finding tenants and managing rent collection to full property management, which includes handling repairs and dealing with tenant issues.
Typical services include:
Tenant find services (e.g., advertising, viewings, and tenancy agreements).
Rent collection (collecting rent, handling arrears).
Full management (overseeing maintenance, inspections, and legal compliance).
At Silver Oak Property, transparency is key—what you see is what you pay, covering the tenant find fee, rent collection fee, or management fee, providing peace of mind with no surprises. Read more about our scale of fees here.
What Are Typical Letting Agent Fees in South Wales?
Letting fees vary depending on the services provided. Here’s a quick breakdown:
Tenant Find Fees: Often 50–100% of the first month’s rent.
Rent Collection Fees: Usually 8–12% of monthly rent.
Full Management Fees: Around 10–15% of the monthly rent (plus VAT).
For example, on a property rented for £800 per month, full management fees would range from £96 to £144 (include VAT). These costs can rise slightly for premium services or properties in high-demand areas. At Silver Oak Property Limited, our fees are structured to provide exceptional value:
Tenant Find Service: Just £299.00.
Rent Collection Service: Only 4% of the monthly rent.
Full Management Service: A flat 10% of the monthly rent.
Tenant Find & Full Management Service: Set up Fee of £180.00 and a flat 10% of the monthly rent.
Additionally, none of our fees are subject to VAT, ensuring that landlords save even more compared to many competitors. By maintaining transparent and competitive fees, we guarantee landlords receive outstanding service without hidden costs such as renewal fees, inventory fees, maintenance work fees, etc.
Do I Need a Letting Agent, or Can I Do It Myself?
While there's no obligation to hire a letting agent, managing everything independently can be quite time-consuming. If you opt for a DIY method, you’ll need to:
Promote the property.
Arrange viewings.
Manage tenant referencing.
Ensure legal compliance (such as gas safety certificates, deposit protection, and Rent Smart Wales licensing, which is compulsory if you decide to self-manage your property.)
Employing a letting agent saves time and guarantees professional management of your property.
Choosing the Right Letting Agent in South Wales
When selecting a letting agent, consider:
Local Expertise: Local agents know the market and can offer tailored services.
Transparency: Ensure fees are clearly outlined.
Reputation: Look for reviews or recommendations.
At Silver Oak Property, we pride ourselves on offering a personal, professional service to landlords across South Wales, from Swansea to Llanelli and Carmarthen. Here's what sets us apart:
Expertise: As landlords ourselves, we know the industry inside and out.
Award-Winning Service: Recognised in the Best Estate Agent Guide 2023 for Sales & Lettings and awarded a Gold Award for Lettings in 2023, 2024 and 2025.
Local Knowledge: Based in Llanelli, we have an in-depth understanding of the local market, helping you make informed decisions.
Straightforward Approach: No hidden fees, no unnecessary charges—just honest, quality service you can rely on.
5-Star Google Reviews: Our clients consistently praise us for our professionalism, responsiveness, and excellent customer service. Find what some of them have to say here.
With Silver Oak Property, you’re not just choosing an agent—you’re choosing a partner dedicated to your success.
Tips for Reducing Letting Agent Fees
Opt for a let-only service if you’re comfortable managing the property yourself.
Negotiate for discounts on multiple properties or long-term agreements.
Compare fees between online and traditional agents.
Let Us Help You Today
Contact Silver Oak Property today.
Whether you’re just starting out or looking for a more reliable letting agent, we’re here to support you every step of the way.
FAQ About Lettings, Residential Lettings, and Letting Agencies
Do I need a Rent Smart Wales licence?
Yes, if you plan to let a property yourself, you must obtain a Rent Smart Wales licence to comply with legal requirements.
Are letting agent fees tax-deductible?
Can tenants be charged fees?
What is included in full management fees?
How do I verify a letting agent’s credentials?
What makes Silver Oak Property different from other agents?
How do I get started with Silver Oak Property?
If you’re ready to let your property, don’t settle for less than the best. Contact Silver Oak Property for professional, personalised service from a team that knows the business inside out. Let’s make renting stress-free together!
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