What does the management fee actually cover?

Put the proposals side by side

Use a simple comparison sheet with three columns: included, charged separately, and handled by you. Ask about tenant placement, routine coordination, vacancy periods, inspections and record keeping. Do not assume any item is included.

• What is the calculation basis, and is there a minimum monthly charge?
• Which charges arise when a tenancy starts or changes?
• Are taxes, supplier charges or other costs additional?

Decide how much authority you are giving

Read the term, payment provisions, spending authority, accounting arrangements, deposit handling and termination provisions together. Where you want an approval threshold or a particular reporting format, have it addressed in the written agreement.

Think about the end before signing

Ask how keys, records, tenant communication and outstanding maintenance will be handed over if you sell or change providers. A lower headline fee is not much help if the exit arrangements do not fit your plans.