Our charges
Our Commercial letting fees are based on a commission of 7% to 12% plus VAT to find a tenant. The final rate often depends on the type of property, the length of the lease, and the scale of the work involved in securing a tenant.
How commercial fees are calculated
Unlike residential agents who may charge a one-off “let-only” fee, commercial agents usually base their charge on a percentage of the rent. For example, if a commercial property rents for £75,000 per year, a 10% commission would be £7,500 plus VAT.
We have a minimum fee, especially for properties with low rent.
Each instruction requires a marketing fee in advance to cover an initial advertising campaign, bespoke signage and marketing particulars. This is currently £585 plus VAT.
What is included in the fee
The tenant-find fee generally covers the services required to secure a tenant and complete the initial lease agreement. These services include:
- Marketing: Advertising the property on commercial listings and websites.
- Viewings: Conducting viewings with prospective tenants.
- Vetting: Performing tenant checks, including references and credit checks.
- Negotiation: Negotiating the terms of the lease with the prospective tenant.
- Paperwork: Drafting and finalising the lease agreement.
- Initial payments: Collecting the first month’s rent and security deposit.
Several factors can cause our commercial fees to vary:
- Location: Fees can be higher in areas with high demand, such as London, compared to more balanced markets.
- Type of property: The specific type of commercial asset whether it’s retail, office space, or an industrial unit affects the amount of work required.
- Level of service: The fee depends on how “hands-on” you want the us to be. A simple tenant-find service is less expensive than a full management package, which can cost 10% to 20% of the monthly rent.