For future investment, renting out your property can be a smart move, but only if you are handing your property over to the right person. And to find this right person, all you need is the right agent. Only a good agent can provide you with a suitable tenant. Someone who you can trust with your property, especially if they will be living there in your absence. And if you are planning to live in your property together with the tenant, it is necessary to build a good relationship with them, and here too, only the right agent can help you find someone compatible.
To help you find a compatible tenant for your property and manage the overall rental process, agents usually charge landlords a fee for the various services they provide.
Know What You Are Paying For
Paying some charges to agents and renting out your property can be a smart move, but only if you are managing your costs wisely and paying agents a fair amount for their services. However, in many cases, landlords unknowingly lose money by paying extra fees to letting agents, which can significantly affect their investment profits often without realizing it until it’s too late.
At More Homes Group, we are committed to offering practical solutions against the challenges landlord face that can help them protect their financial interests and enable them to retain more of the money they earn. By choosing us, you can avoid unnecessary agent charges and ensure your rental business stays profitable.
Understand the Fees Agents Charge
To avoid paying extra charges, you first need to understand what services property agents typically charge for. Some common fees include:
Letting Fees: This fee is usually charged for advertising the landlord’s property, finding a tenant, and arranging viewings.
Management Fees: These fees are charged for handling maintenance issues and for managing the day-to-day running of the property, such as dealing with tenants.
Inventory Fees: At the start and end of the tenancy, agents may charge landlords for conducting property inventories.
Renewal Fees: This is the fee that agents usually charge for preparing a new contract if the contract between the landlord and tenant is cancelled. And this fee may also apply when a tenancy agreement is renewed. In some cases, agents charge a renewal fee for extending the contract.
Being aware of these charges can help you choose your agent more wisely, make informed decisions about the services you truly need, and spot areas where your money can be saved.
How to Cut Costs While Renting Your Home
There are several ways to avoid unnecessary charges when renting out your property.
- Discuss Fees and Tenancy with Agents: To avoid unnecessary charges, negotiation with the agent over the rent can be one of the most effective strategies, especially since many agents out there are willing to work with landlords on agreeable terms. However, getting quotes from multiple agents and comparing them—especially when looking to rent out the property for a longer period—can be quite hectic and time-consuming. Finding the right tenant for your property can also involve lengthy discussions with the agent you are working with.
But at More Homes Group, we value your time by connecting you with the right agent who you can secure your rental deal with at a fixed price, and it won’t take much time. Our agents provide you with a verified tenant for a fixed fee, without wasting your time or persuading you if you choose not to move forward. Your time and comfort are what matter most to us.
- Opt for Fixed-Price Agent: Typically traditional agents charge a percentage of the rent each month, which can also add up over time. However, at More Homes Group, we offer a fixed-fee structure. Our agents charge a fixed amount for their services rather than a percentage of your rental income, helping you better control your costs —especially if your property commands a high price rent. With a fixed-priced agreement, your costs are clear and predictable, with no hidden fees added over time.
- Opt for a Tenant-Providing Service Only: You can avoid a full range of agent additional fees by opting for our tenant-find-only-service at More Homes Group. By choosing this option, the agent’s role is limited to advertising the property, vetting potential and verified tenants, and arranging viewings. Property management and maintenance responsibilities remain with you. Many landlords find this approach more convenient and cost-effective, as it helps reduce unnecessary expenses.
- Avoid Hidden Charges: Some agents may charge additional fees for services like tenant check-in and check-out, tenancy agreement renewal, and inventory reports—costs that can add up over time. At More Homes Group, our agents create a transparent contract with landlords, outlining all potential fee upfront to eliminate hidden charges. We also ensure that tenants commit to long-term stays at your property under contract. If a tenant breaks the agreement and leaves the property before the end of the term, our agents will find a replacement tenant and draft a new contract without any additional cost.
Conclusion
Renting out a property can be a smart long-term investment, but it’s essential to hand it over to the right tenant through a reliable agent—while keeping your costs in check. Understanding the fees agents charge and opting only for the necessary services, such as tenant-finding, can make a big difference. At More Homes Group, we are here to help you get the most out of your rental property by offering a one-time, fixed-price service.
