Set your default agency fees

The system comes pre-configured with a default management fee of 10% of rent collected, and a default letting fee of £250.00, charged to the landlord when a new tenancy is set up. These fees may well not reflect your own agency's fee structure or values, so you can modify these as appropriate. 

When you add a new lettings property, the management percentage will be preset to the default management fee for your whole agency, since it's most likely going to be used for most, if not all, properties.

If you prefer to apply a fixed-fee for management, and not a percentage of rent collected, you can set your default management percentage to zero percent and then apply a recurring property charge to the property or tenancy, as appropriate.

STEP-BY-STEP

1. Via the Settings menu, click the Lettings tab.
   
   
   
   
2. Choose the Lettings Configuration category, and then Default Management Fees from the next screen.
3. The default fees screen is split into two sections - one for management fees (percentage of rent collected), and the other for maintenance fees. 

The next step depends on whether you are updating your default management or maintenance fees. Refer to the relevant section below. 

Property management and letting fees

1. On the Property Management Fees section, the default percentage and letting fee are shown.
   
   
   
   
2. Click Update.
3. Set the specific fees for your agency, and click Save.

These new settings will only take effect for new fees; they will not affect existing fees. If you need to update existing fees you can either edit them or delete, as appropriate. 

Maintenance fees and thresholds

1. On the Maintenance Fees section, the default maintenance fees (fixed fee and/or commission percentage) and the default maintenance threshold are shown.
   
   
   
   
2. Click Update.
3. Set the specific fees and threshold for your agency, and click Save.

These new settings will only take effect for new fees; they will not affect existing fees. If you need to update existing fees you can either edit them or delete, as appropriate. 

RELATED ARTICLES

• Add a new rental property
• Update a property charge
• Delete a property charge
• Set landlord maintenance configuration
• Add a new maintenance job