Choosing a company for property management is one of the biggest decisions a London landlord makes. The right manager protects your property, keeps it earning and saves you hours every week. The wrong one can cost you income, reviews and peace of mind. This guide explains what property management companies do, what they charge, and the questions to ask before you sign.
What Does a Property Management Company Do?
A property management company runs your rental property day to day on your behalf. For a short let or serviced apartment in London, that usually means:
- Creating and managing listings on Airbnb, Booking.com and other platforms
- Setting prices and adjusting them for demand
- Handling guest messages, vetting and check-in
- Arranging cleaning, linen and maintenance
- Keeping the property compliant, including London’s 90-night rule
- Reporting on bookings, income and costs
For a full breakdown, read what a property management company does for landlords.
Is a Property Manager the Same as a Landlord?
No. The landlord owns the property and keeps the legal responsibilities that come with it. A property manager acts for the landlord under an agreement, doing the day-to-day work the landlord chooses to hand over. You stay the owner and decision-maker; the manager runs the operation.
How to Choose the Right Property Management Company: Essential Tips
1. Check They Specialise in Your Type of Letting
Long-term lettings, short lets and serviced accommodation are different businesses. A firm that mainly finds long-term tenants may not have the pricing tools, cleaning teams or guest support a short let needs. Ask what share of their portfolio is the same type of letting as yours.
2. Ask for Their Local Knowledge
Demand in London changes from one area to the next. A good manager should explain who books in your area, how rates move through the year, and whether a short let, serviced accommodation or a standard tenancy would earn more for your property.
3. Understand Exactly How Fees Work
Most short-let managers charge a percentage of the income your property earns. Ask what the percentage is charged on, gross booking revenue or net income, and what sits outside it, such as setup, cleaning or maintenance. Our guide to property management fees in London covers this in detail.
4. Check Their Professional Protections
In England, letting and property management agents must belong to a government-approved redress scheme, and agents who hold client money must be members of a client money protection scheme. Ask which schemes a company belongs to and whether they apply to the service you are buying. Rules differ between long-term tenancies and holiday lets, so a good firm will explain clearly.
5. Ask How They Handle the 90-Night Rule
Whole-home short lets in London are limited to 90 nights a year without planning permission. A good property management firm tracks your nights and has a plan for the rest of the year, for example longer serviced accommodation stays. Read our guide to the 90-day rule.
6. Look at Communication and Reporting
Ask who your contact will be, how quickly they reply, and how often you get reports. A dedicated manager who knows your property is worth more than a general inbox.
7. Read the Property Management Agreement Carefully
The agreement sets out what the company does, what you pay and how either side can end it. Before signing, check:
- The services included and anything charged separately
- The notice period and any minimum term
- Who pays for repairs, and the spending limit before they need your approval
- How and when you receive your income
- Insurance responsibilities on both sides
- What happens to your listings, photos and reviews if you leave
8. Ask for an Income Projection for Your Property
A serious company should give you a realistic projection for your specific property, not an area average. Be wary of promises that sound too good to be true.
How Much Do Property Managers Charge?
Short-let property management services in London are usually priced as a percentage of the income the property earns, rather than a fixed monthly fee. Rates and what they include vary widely, and some managers charge on gross income while others charge on net. Compare the total cost, not just the headline rate. Some companies, including Ichiban Stays, also offer guaranteed rent, where you receive an agreed rent every month instead of paying a fee. See our London fees guide for the details to check.
Is Property Management Worth It?
For many landlords, yes. It is especially worth it if you work full time, live outside London, own more than one property, or want income without the daily work. If you live nearby and enjoy hosting, managing it yourself can work too. Our comparison of short-let management vs managing it yourself can help you decide.
Choosing a Luxury Property Management Company
If your property is a high-end apartment or house, for example in Mayfair, Belgravia, Kensington or Notting Hill, the right manager needs more than the basics. When comparing luxury property management companies, ask about:
- Presentation standards: professional photography, styling and hotel-quality linen and amenities that match the price point.
- Guest vetting and discretion: how they screen guests, handle house rules and protect your privacy and neighbours.
- Care of high-value contents: inventories, check-in and check-out inspections, and how damage is reported and recovered.
- Pricing that protects your positioning: minimum-stay rules and dynamic pricing that maximise income without heavy discounting.
- Trusted contractors: cleaners and tradespeople used to working in prime properties, with fast response times.
- Local experience: a track record in prime areas such as Mayfair, Belgravia, Kensington and Notting Hill.
A Bespoke Property Management Service in London
Ichiban Stays is a London property management company for short lets and serviced accommodation. You get a dedicated manager, dynamic pricing, guest management, cleaning and maintenance, and a clear plan for the 90-night rule. There are no upfront fees to start. Learn more about our property management in London and our Airbnb management.
Frequently Asked Questions
What should I look for in a property management company?
Look for experience with your type of letting, local knowledge, clear fees, membership of the right professional schemes, a plan for the 90-night rule, good communication and a fair agreement with a reasonable notice period.
Is a property management firm the same as a letting agent?
Not always. A letting agent mainly finds tenants, while a property management firm runs the property day to day. Some companies do both, so ask exactly which services are included.
Can I switch property management companies?
Yes, within the notice terms of your agreement. Check what happens to your listings, reviews and future bookings before you switch.
Talk to a Personal Property Manager in London
Book a free, no-obligation consultation, call +44 7572 190291 or message us on WhatsApp. We will look at your property and tell you honestly how it could perform.