A property management agreement defines what your agent is authorised to do on your behalf and what they charge for it.
- Agent must be member of a redress scheme (TPO or PRS)
- Client money must be held in separate client account
- Management fees typically 8-15% of rent
- Landlord remains legally responsible for compliance
- Contract must specify what consents agent has without referral
Legal reference: Estate Agents Act 1979; Tenant Fees Act 2019; Client Money Protection Schemes Regulations 2019