Full management vs let-only: choosing the right setup for your Wandsworth rental

The choice comes down to how much time you can reliably give the property and how much day-to-day responsibility you want to retain. Let-only sets up the tenancy, including marketing, viewings, referencing and the agreement, before management returns to you. Full management keeps the agent involved throughout, including rent collection, inspections, maintenance coordination and tenancy support.

Lets Find A Home currently advertises letting-only at 8% in year one, reducing to 7% in year two and 6% from year three onwards. Full management is 13% in year one, 12% in year two and 11% from year three onwards. The agency states that VAT is not currently added, although separate charges can apply. Since Section 21 was abolished on 1 May 2026, landlords also need to work within the new tenancy framework, one reason some may have moved across to full property management.

What each service actually covers

Let-only can work well if you live nearby, have dependable contractors and are comfortable dealing with tenants and legal duties. The true cost of self-managing becomes more relevant when time, distance or compliance makes that difficult.

Running the numbers honestly

ONS data puts average private rent in Wandsworth at £2,620 a month in July 2026. At that rent, a 13% first-year management fee is about £340.60 a month before any applicable additional charges. Because the advertised percentage reduces on later renewals, the cost is not fixed at 13% indefinitely.

Compare that with the risks and workload of self-management: voids, arrears, maintenance delays and time spent coordinating contractors and paperwork. empty property costs also extend beyond lost rent. Run your figures through the rental yield calculator before deciding.

A change in circumstances can alter the answer. Moving away, taking on a demanding job or adding another property may make full management more worthwhile even if let-only previously worked well.

What the 2026 rules changed

Since 1 May 2026, most private assured shorthold tenancies in England have become assured periodic tenancies and Section 21 no-fault eviction has been abolished. Landlords seeking possession must rely on an applicable statutory ground and follow the correct Section 8 procedure.

Rent increases under the revised Section 13 process are generally limited to once a year and require at least two months' notice. Tenants can challenge a proposed increase at the First-tier Tribunal. Rental bidding above the advertised rent is banned, landlords and agents cannot require more than one month's rent in advance, and landlords must reasonably consider requests to keep a pet. The current full landlord guidance on GOV.UK explains the framework.

Self-management remains possible, but notices, records and compliance processes must be current. If you choose let-only, read the guide to letting before the tenancy begins.

Getting the tenant right matters either way

Tenant selection remains important whichever service you choose. The Q3 rental market update notes that well-presented homes at realistic rents continue to attract demand, while what Wandsworth tenants are actually looking for can help with presentation and positioning.

If you own several properties, mixing service levels is reasonable. You might self-manage a nearby flat while placing a distant one under full management. Commercial property sits outside this residential framework, so landlords with commercial units to let or commercial property for sale should start with the residential versus commercial comparison.

If selling is the better option, browse homes for sale in Wandsworth and the buyers' guide.

A detailed breakdown sits on the full management service and letting only service pages. Check the additional fees page too, because separate charges may apply.

Not sure which fits? Call your local Wandsworth property management team on 020 8870 5800. A free valuation is available if you want a current rental figure.