Fees for Landlords

As a landlord with Prosperity LETS, all you’ll ever pay us for management is a flat percentage of the rent we collect on your behalf – that’s it!

No setup fees, no renewal fees, no letting fees or hidden charges!

Why do we do this: It’s simple, transparent and fair

It incentivises us to find the right tenants who want to stay in your property long term as:

• We don’t get paid for finding new tenants every couple of months.

• We don’t get paid for the void between tenancies.

• We don’t get paid if your tenants aren’t paying us!

Rent Collection & Remittance to Landlords
We charge tenants their rent by direct debit having received the first month’s rent by bank transfer prior to moving in. The direct debit must be set up before they are given the keys.
Rent payments are remitted to the landlord once a month, less the management charge and any disbursements (cleaning, minor repairs etc when appropriate).

Why do we do Monthly payments (rather than weekly):

• Matches most tenant’s pay cycle, so we can time their rent payment to come out the day after they get paid to maximise collections.

• Reduces the workload on our admin team, which means we can keep our costs down and charge you less.

• Sending payments to you monthly also means we can deduct the cost of minor repairs from the gross rent, rather than having to ask you to send us money to cover this – saving time for both you and us.

• It makes your life easier having one statement to reconcile each month, rather than one per room.