How the Wrong Letting Agent Can Quietly Drain Your Profit
Being a landlord isn’t passive when your letting agent isn’t pulling their weight. Every year, UK landlords collectively lose over £2 billion due to rent arrears, void periods, and poor property management [source: NRLA]. That’s not a rare problem, it’s industry-wide.
Most agents overpromise. Few deliver. And fewer still care about your long-term return. Whether it’s undervalued rent, bad tenants, or late repairs, the wrong agent will quietly cost you thousands — and most landlords don’t even notice until it’s too late.
Four Real Ways Letting Agents Lose Landlords Money
1. Undercharging Rent
According to Zoopla’s UK Rental Market Report (Q1 2024), average UK rents rose by 8.3% year-on-year, yet many landlords are still charging 2021 rates. Why? Because their agents haven’t re-evaluated rent in years.
If you own a flat in a city like Birmingham or Manchester, that’s a difference of £150–£250 per month left on the table.
2. Prolonged Voids
The average void period in the UK is 20 days, but some landlords experience up to 40+ days due to poor marketing and agent delays [source: Goodlord Rental Index, Jan 2024]. That’s over a month of lost rent for no reason other than poor performance.
3. Bad Tenant Vetting
Evicting a tenant in the UK now takes an average of 6.5 months, costing landlords upwards of £3,000 in legal fees, arrears, and damage [source: Shelter, 2023].
Letting agents who rush tenant placements to fill vacancies faster are often exposing landlords to major financial risk.
4. Hidden Costs and Poor Maintenance Handling
A Which? 2023 survey found that 1 in 3 landlords didn’t know exactly what they were being charged for by their letting agent. Hidden admin fees, unapproved contractor charges, or regular “management fees” that don’t cover half of what they should are far too common.
What a Proper Letting Agent Should Actually Be Doing
✓ Regular Rent Reviews
Your agent should benchmark your property rent against local market data every 6–12 months and show you the numbers.
✓ Zero Tolerance on Voids
There are too many platforms, tools, and marketing methods to justify a long void today. From Rightmove to virtual viewings, a good agent fills your property fast.
✓ Bulletproof Tenant Screening
This means full affordability checks, references, credit reports, and speaking with previous landlords — not just ticking boxes.
✓ Transparent Reporting & Real Management
You should see every penny — where it came from, where it’s going, and why. If something breaks, it should be fixed quickly, affordably, and with full communication.
StoneGrove’s Approach: Built Around the Landlord’s Bottom Line
At StoneGrove, we operate with a landlord-first mindset. We’re not a faceless chain with cookie-cutter solutions. We’re a focused, strategic team who believes your property should be earning more — and costing you less hassle.
Whether you’re in Greater London, Birmingham, or Manchester, our process is the same:
Market-led rent evaluations using real-time data
Fast tenant placement with low voids
Detailed monthly statements and full transparency
Options beyond standard lettings, including short lets, serviced accommodation, and social housing
We don’t guess. We use facts.
The “Safe” Agent May Be the Most Expensive Mistake
It’s easy to stick with your current agent because they’re “fine.” But if you’re not seeing market-level rent, timely updates, or consistent performance, they’re costing you — not helping you.
With rising costs, mortgage hikes, and increased regulation, 2024 is the year to reassess how your property is being managed.
Get a Free, No-Nonsense Property Performance Report
We’ll review your current rent, management costs, and letting strategy. If you’re leaving money on the table, we’ll show you where, with data to back it up.
