Lettings management in Cambridge isn’t always straightforward. One of the biggest questions: is it cheaper to self-manage your property or use a letting agent? Here’s a comparison.
Whatever your motivation for being a landlord, your financial return will always be a key consideration. In a city like Cambridge where profit margins as a landlord can be thin, paying a letting agent to manage your property may seem counterintuitive.
But you might be surprised at how much money – not to mention time and stress – you can save by working with a reputable local agent that offers an end-to-end property management service. Over the course of a year the right service may even prove to be cost-negative in comparison to self-management, helping you to increase your returns and providing peace of mind that your operations as a landlord are legally watertight.
Lettings management in Cambridge: how much does it cost?
Of course, the costs of self-managing property are not fixed. The expense of repairs, insurance and potential legal action fluctuate based on what fate throws at your property. Likewise different agents have different pricing structures for their services.
What we can tell you is that at Belvoir Cambridge we charge a fixed monthly fee for our services – and you only pay when your property is occupied. Here are some benchmark figures based on Belvoir’s fully-managed service for a twelve-month tenancy.
10% monthly management fee
Tenancy setup fee
Dispute management fee
Remember: Belvoir’s fee covers the complete management of your property for twelve months – including finding tenants, compiling legally watertight paperwork and conducting quarterly maintenance. But how does this fee compare to the potential costs of self-management?
Let’s break down each stage of the tenancy lifecycle, view it here
Georgina Gray is Belvoir Cambridge’s Sales Manager. With close to 10 years experience of working in the Cambridge property market, Georgina understands all of the unique advantages of this historic city and is passionate about helping vendors and buyers alike. If you’re thinking of selling your home here in Cambridge then give her a call for a free no-obligation valuation.