A low headline fee can look like the cheapest option—but it rarely tells the full story. For landlords in Catford, Hither Green, Lewisham and across South East London, the real cost of an agent is what you pay across the whole tenancy: setup charges, renewals, maintenance markups, compliance issues and avoidable void periods.
I started Lean Property Management because I am a landlord myself and like many landlords, I became frustrated with the service on offer: fees seemed to appear at every stage, eating into rental profit and making it feel as though renting out a property was no longer viable. I wanted to create a more transparent, fair and modern alternative—one built around protecting landlords’ returns, not charging them for every small task.
At Lean Property Management, our full management service is 10% of gross monthly rent, and our Let Only service is 50% of the first month’s rent whenever we find and set up a new tenant. There are no setup fees, no hidden charges, and we do not take a cut or markup when arranging maintenance or contractors.
1. Setup and admin fees
Some agents advertise a low monthly management percentage, then add fees for tenancy agreements, referencing, inventory check-ins, deposit registration, renewals or general administration.
These charges can quickly turn a “cheap” service into an expensive one. Before instructing an agent, ask for a written breakdown of every possible fee—not just the headline management rate.
Lean’s approach: No setup fees and no hidden charges. If we find and set up a new tenant, our Let Only fee is 50% of the first month’s rent; there is no separate tenancy set-up fee.
2. Renewal fees
A tenancy renewal may involve little more than updated paperwork, but some agents charge landlords again for it. Over several years, renewal fees can become one of the largest hidden costs of using an agent.
Ask whether renewals are included, charged separately, or charged at the same rate as a brand-new tenancy.
Lean’s approach: Our pricing is designed to be clear from the outset, so you know what you are paying for before you instruct us.
3. Maintenance markups
This is one of the most common hidden costs in property management. An agent may arrange a plumber, electrician or handyman, then add a percentage or fixed fee on top of the contractor’s invoice.
For example, if a repair costs £300 and the agent adds a 15% markup, the landlord pays £345 for the same work. Multiply that across routine maintenance, emergencies and larger works, and the cost becomes significant.
Lean’s approach: We do not take a cut when we schedule maintenance or contractors. We believe coordination should be included in the monthly management service, not used as another opportunity to charge landlords.
4. Compliance failures
A cheap agent can become very expensive if compliance is handled poorly. Missed safety certificates, incorrect documentation, poor deposit protection or weak tenancy records can expose landlords to financial penalties, disputes and unnecessary stress.
With rental regulation becoming more demanding, landlords need an agent who treats compliance as a core service—not an afterthought.
Lean’s approach: Compliance is built into how we manage properties, from tenant onboarding through to ongoing tenancy administration. We handle compliance for both our Full Management and Let Only services.
5. Voids and poor tenant selection
An agent that fills a property quickly but poorly can cost far more than it saves. Weak referencing, poor communication or inadequate marketing can lead to rent arrears, early terminations, damage disputes and longer void periods.
A slightly higher, transparent management fee is often better value than a low-fee service that leaves your property empty or badly managed.
Lean’s approach: We focus on proper tenant sourcing, vetting and ongoing management, so your property is let properly—not simply filled quickly.
The real comparison
When comparing agents, do not ask only: “What is your management fee?”
Ask:
- What is included in the monthly fee?
- Are there setup, renewal, exit or admin fees?
- Do you add a markup to contractor invoices?
- Who handles compliance, and how is it tracked?
- How do you reduce void periods and select reliable tenants?
- What happens if something goes wrong during the tenancy?
Why landlords choose Lean Property Management
Lean Property Management was created by a landlord, for landlords. We understand how frustrating it is to watch fees, charges and poor service reduce the return from a property you have worked hard to invest in.
- Full Property Management: 10% of gross monthly rent
- Let Only: 50% of the first month’s rent when we find and set up a new tenant
- No setup fees or hidden charges
- No maintenance or contractor markups
- Local knowledge across Catford, Hither Green, Lewisham and South East London
- Compliance-led management for landlords who want peace of mind
If you are comparing agents, ask for the full fee schedule—not just the headline rate. A transparent agent should be able to explain exactly what you will pay and what you will receive.
Ready to compare your current agent’s true cost? Contact Lean Property Management for a free, no-obligation rental appraisal and management quote.