Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Property Management Fees Rise Sharply in Midlands Over Past Decade
Property management fees in the Midlands have increased by an estimated 53.9% over the past decade, according to new research. This represents the fastest rate of growth for property management fees across England’s regions.
The research analysed average rental values in England’s regions for 2016 and 2026, applying an average 10% (plus VAT) property management fee to estimate annual management costs. The findings highlight significant changes in costs for letting agents and property professionals operating in the Midlands.
Source: Letting Agent Today