Reading a fee quote
A fee is usually a percentage. The question is: a percentage of what, and is VAT on top?
On rent received
The fee is the percentage of the rent that came in that month, whatever the property cost you.
On net
The fee is the percentage of the rent less the property's costs. In a month with a large repair or a levy increase, the fee falls with your income.
VAT
Tick “Plus VAT” when the quote excludes VAT. The rate is editable.
Questions
Do rental agents charge VAT on their fee?
An agent registered for VAT adds VAT to the fee. Check whether a quoted fee includes it: on a fee charged every month, the difference adds up.
What is a fee on net?
A percentage of what the owner has left after the property's bills and repairs that month, rather than of the rent. When costs are high, the fee is lower.
What else should I compare besides the fee?
Who holds the rent, how quickly arrears are followed up, whether you get proof of every payment, and what is charged for inspections, new leases and renewals.