How Much Does Property Management Cost in Lewisham?
If you own a rental property in Lewisham or nearby areas like Catford or Greenwich, you’ll quickly find that many high‑street agents advertise management fees that exclude VAT and gloss over a long list of add‑on charges. In practice, by the time you factor in a one‑off letting fee, ongoing management at around 12–14% of the monthly rent, plus VAT and assorted “extras”, the true cost of traditional agents can climb far beyond the headline rate. By contrast, Lean Property Management offers a straightforward, VAT‑inclusive fee structure, so you know exactly what you’ll pay from day one. This guide breaks down what those fees actually cover, how Lean’s VAT‑inclusive pricing compares, and why many high‑street “bargain” rates end up significantly more expensive once the full schedule of charges is applied.
Who this guide is for (and what landlords can expect to pay)
This article is written for:
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Lewisham, Catford, Greenwich and wider SE London landlords who want clear, honest management fees with VAT included from the outset.
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First‑time or accidental landlords deciding between self‑management, a letting‑only service or full management.
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Portfolio landlords comparing effective costs across multiple properties once VAT and add‑ons are taken into account.
In Lewisham, most landlords will see:
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Let only: A one‑off fee, commonly a percentage of the first month’s rent.
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Full management: An ongoing monthly fee that covers rent collection, day‑to‑day management, compliance and tenant issues.
At Lean Property Management, our core fees are simple, transparent and inclusive of VAT:
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Full Property Management – 10% of the gross monthly rent, VAT included, covering rent collection, arrears chasing and full day‑to‑day management.
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Let Only (tenant find) – 50% of the first month’s rent, VAT included, with no separate tenancy set‑up fee.
Unlike many high‑street letting agents in London that advertise fees excluding VAT and rely on a long list of additional charges, Lean focuses on a small, clear set of services and VAT‑inclusive pricing so you can see your true net return at a glance.
Typical property management fee models in Lewisham
Most Lewisham letting agents and property managers use some variation of two main models for landlords who want agent support: let only and full management. Some high‑street agents also sell separate “rent collection only” tiers, but Lean Property Management bundles rent collection into its full management service rather than selling it as a standalone add‑on.
Let only (tenant find)
Let only (tenant‑find) is aimed at landlords who are happy to manage the property themselves after the tenants move in.
What it usually includes:
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Marketing your property on the major portals.
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Conducting viewings and handling tenant enquiries.
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Basic tenant referencing and right‑to‑rent checks.
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Drafting the tenancy agreement and getting it signed.
Lean Property Management – Let Only (VAT included):
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50% of the first month’s rent, inclusive of VAT, whenever a new tenant is found, with no additional tenancy set‑up fee on top.
Many high‑street agents will quote a similar percentage but then add a separate tenancy setup or legal fee plus VAT, making it harder to see the real cost at a glance.
Full property management (including rent collection)
Full management is the hands‑off option for Lewisham landlords who want a local expert to handle everything day‑to‑day, including rent collection and arrears management.
Typically includes:
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All elements of let only (marketing, viewings, referencing, tenancy agreement).
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Rent collection: setting up payment methods, monitoring rent receipts, chasing late payments and keeping records.
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Coordinating repairs and maintenance with vetted contractors.
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Managing tenant issues, notices and renewals.
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Monitoring compliance dates (gas, EICR, EPC, licensing reminders).
Lean Property Management – Full Management (VAT included):
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10% of the gross monthly rent, inclusive of VAT, and this includes rent collection and arrears chasing as standard—there is no separate “rent collection only” package to bolt on.
Many high‑street agents will sell a separate rent‑collection tier, then charge extra again for full management, with both sets of fees often quoted excluding VAT and topped up with a menu of add‑ons. Lean’s approach is to keep things simple: if you want a fully managed, hands‑off service in Lewisham, you pay a single VAT‑inclusive percentage that covers rent collection and full management together.
What’s usually included vs charged separately
One of the biggest sources of confusion in the Lewisham rental market is what’s actually included in the headline fee. Two agents might both say “10% full management” but include very different things—and one may be excluding VAT while the other includes it.
Common inclusions
Most reputable Lewisham letting agents include:
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Marketing and tenant‑find as part of the initial instruction.
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Basic referencing and right‑to‑rent checks.
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Tenancy agreement drafting and signing.
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Deposit handling through a recognised scheme.
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Basic rent collection within a full‑management package.
Hidden and optional extras typical of high‑street agents
Where high‑street agents often increase their revenue is through a menu of additional and optional fees that are not obvious when you first compare percentage rates. These can include, for example:
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Accompanying external contractors: charging a fixed attendance fee if a staff member must be present while your chosen contractor is on site.
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Legal packs for renewed tenancies: charging a separate legal or admin fee when a tenancy is renewed on a premium or fully managed service, covering new ASTs, rent reviews, updated referencing and right‑to‑rent checks, and re‑serving legal notices.
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Pre‑tenancy works handling fees: adding a percentage “project management” fee on top of the cost of any pre‑tenancy repairs or redecoration they arrange on your behalf.
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Sale‑to‑tenant fees: charging a sales commission if a tenant they introduced ends up purchasing the property, even when negotiations are handled directly.
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Court attendance charges: applying a daily rate for a representative to attend court if they are required as a witness or to support proceedings.
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Deposit protection charges: adding a separate fee for protecting the deposit on certain service levels, rather than including it within the standard management package.
These charges are frequently listed excluding VAT, so every line item is 20% higher on the final invoice than it appears in the fee schedule. Over a typical tenancy, that can turn a seemingly modest management fee into a significantly higher effective cost.
How Lean Property Management positions its pricing
Lean Property Management is structured to be transparent and straightforward for South East London landlords, with:
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Let Only at 50% of the first month’s rent, inclusive of VAT, and no separate tenancy setup fee.
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Full Management at 10% of gross monthly rent, inclusive of VAT, including rent collection and arrears chasing as part of the core service.
When you compare agents in Lewisham, Catford or Greenwich, it’s crucial to compare:
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Like‑for‑like VAT (inclusive vs exclusive).
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How many “extras” are charged as separate line items (and what they do to your effective fee over a year).
Looking at the effective total cost over a tenancy, rather than just the percentage on the leaflet, usually shows Lean’s inclusive, no‑nonsense structure to be more competitive than many traditional high‑street offerings.
Do cheaper property management fees actually save you money?
It is tempting to choose the cheapest fee you see on a comparison table—but in practice, a headline discount can vanish once hidden charges and VAT are factored in. A slightly higher but all‑inclusive fee from a proactive agent can easily outperform a cheaper, reactive service.
Cheaper fees can cost more when:
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Void periods increase from weak marketing or slow responsiveness.
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Arrears build up because nobody is actively managing rent and follow‑up.
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Compliance errors lead to fines or legal issues.
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Hidden extras + VAT turn the “cheap” fee into a much higher effective percentage over the course of the tenancy.
By contrast, a transparent 10% full management fee inclusive of VAT, with rent collection baked in, can pay for itself through:
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Faster lets to suitable tenants.
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Lower arrears and more consistent cashflow, because rent collection is actively managed.
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Fewer costly compliance mistakes and surprise invoices.
Lean Property Management’s VAT‑inclusive pricing is designed to make it easy to see your true net return, particularly for landlords treating their South East London properties as long‑term investments rather than chasing short‑term savings.
Local factors in Lewisham, Catford and nearby SE postcodes
Fees do not exist in a vacuum—local conditions in Lewisham, Catford, Greenwich and surrounding areas matter when deciding what level of service to pay for.
A few practical local considerations:
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Diverse tenant base: A mix of professionals, families and sharers means tenant‑find, referencing and suitability checks matter as much as the headline rent.
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Older housing stock and conversions: Many properties have specific maintenance and compliance needs that benefit from active, local management.
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HMO and licensing exposure: In streets where HMOs and Article 4 directions are relevant, staying on top of local licensing and planning conditions is critical; cutting corners to save a 1–2% fee difference can be a false economy.
Because Lean Property Management is focused on South East London landlords, its VAT‑inclusive 10% full management fee, including rent collection, is calibrated to the realities—and risks—of managing homes in these neighbourhoods, not a generic national average.
When each fee model makes sense
Putting this together, here is when each model tends to work best:
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Let Only (50% of first month’s rent, VAT included) – You live locally, understand compliance, and have time to manage tenants and maintenance yourself once they move in.
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Full Management (10% of monthly rent, VAT included, with rent collection) – You want a hands‑off, outcome‑focused service that handles tenant issues, rent collection, arrears, maintenance and compliance with minimal involvement from you, while making it easy to see your true net return without having to add VAT and hidden extras back in.
For portfolio landlords, a VAT‑inclusive, no‑surprises full‑management structure with rent collection built in often makes forecasting and scaling much easier than juggling different percentage rates, admin charges and VAT calculations across multiple high‑street agencies.
Ready to see your real net return? Request a free rental valuation or management review
If you own a property in Lewisham, Catford, Greenwich or the surrounding SE postcodes, Lean Property Management can give you a clear, personalised breakdown of:
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Your expected monthly rent.
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What you would pay under Let Only (VAT included) and Full Management at 10% VAT‑inclusive (including rent collection).
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How that compares with a typical high‑street fee structure once all extras and VAT are added.
Next step:
Request a free rental valuation or management review with Lean Property Management. There is no obligation—just a detailed, local view of what your property should be earning and what transparent, VAT‑inclusive, fully managed service would actually cost you in real terms.