Updating post from Reddit.

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Posted by Money-Distribution15 2 weeks ago
Need advice: Letting out property under new Renter’s Reform Bill – self-manage or stick with agency?

Hi all!

I’m a London landlord and have been using Urban Spaces (full management) for a couple of years. My current tenant isn’t renewing, so I’m at a crossroads:

  • Option 1: Continue with a management agency and pay the ongoing fees.
  • Option 2: Take it into my own hands and save the fees.

A few things about my situation:

  • I’m not very experienced with the legal side or the London rental market.
  • My available time for active management is limited.
  • I’ve heard that once things are set up with a good tenant, the process can run fairly smoothly without much intervention.

However, the upcoming Renter’s Reform Bill seems like it’s bringing some big changes — possibly more compliance, paperwork, and complexity for landlords. From what I’ve read, it almost feels like it might “push” more landlords to work with agencies.

Questions:

  • For those who self-manage, do you think the new bill will make it significantly harder or riskier for landlords without legal expertise?
  • Are there hidden time or cost drains that first-time self-managing landlords should expect?
  • With the reform in mind, is saving the management fee worth the trade-off in hassle?

Would appreciate any insight or experiences, especially from London-based landlords or anyone who’s already navigating the upcoming changes.

Thanks in advance!

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Posted by Acrobatic-Rice-9373 2 weeks ago

Unless you live in the city (or fairly close), you should take an agent. My agent fees are single digits for almost 2 years (and was double digit for just a few months at most. yes, i realize I'm just extremely lucky) and they take care of the contract and dealing the with the bill. Only a new tenant charge is close to a month's rent. Otherwise, all is sorted.
Management fee is defo worthwhile (but it depends how much you get).

Also not in London, but further north. Over a year with the tenant large month and just got COLA increase.

EDIT: 16%. Wow shit! That's huge (more than double mine at current rates (which will still be double even when a new tenant comes in)): https://www.urbanspaces.co.uk/files/4031-us-landlordfees_v3.pdf (although tenancy set up is cheaper, but overall that is quite a pretty penny)

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