For London landlords, the choice between a letting agency and a self-service platform often comes down to how much time they want to spend managing the process. This article sets out what each option involves, what it costs, and who each tends to work for.
London letting marketing overview
The London letting market broadly divides into three types of service. Traditional high-street agencies, such as Foxtons, Hamptons and Savills, offer full management at percentage fees that often exceed 15% of annual rent. Self-service platforms like OpenRent allow landlords to advertise their properties and handle tenancy administration for a flat fee while managing viewings and compliance themselves. Between these two sits a newer breed of agencies that aim to combine full-service letting with fees closer to the online end of the market. Letio is one of these.
This comparison focuses on the practical difference between OpenRent and a managed service like Letio: what each actually involves day-to-day, what it costs, and where each tends to make sense.
What each service offers
OpenRent
OpenRent is the UK’s largest online letting platform by volume. Its most popular package costs £58 inc VAT and covers advertising on Zoopla and 100+ partner sites, plus a tenancy creation service that includes contract drafting, online signing, deposit registration, initial rent collection, and tenancy document serving. Most landlords may also want to add a Rightmove listing at £50 extra – Rightmove is the UK’s largest rental portal and the majority of prospective tenants search there. That would bring the cost to £108 before any optional add-ons.
Viewings are arranged and conducted by the landlord, all tenant enquiries are handled directly, and ongoing compliance and maintenance remain the landlord’s responsibility. Tenant referencing is available as a paid add-on at £30 per reference. For landlords with the time, local availability, and confidence to manage those aspects themselves, the platform works well.
The practical demands are worth being clear about. Managing a property through OpenRent means being available to respond to enquiries quickly, conducting viewings in person, assessing applications, and staying up to date with an increasingly complex compliance landscape. The Renters’ Rights Act changes taking effect in 2026 add further administrative responsibilities around notice periods, section 8 grounds, section 13 rent increases and tenancy documentation.
Letio
Letio is a London letting agency that handles the letting process on behalf of landlords. Its three published service tiers cover different combinations of letting and management: a letting-only service at 6% inc VAT, a managed-only service (for landlords who already have a tenant) also at 6% inc VAT, and a fully managed service covering both at 12% inc VAT.
The fully managed tier includes tenant sourcing, accompanied viewings, financial verification, referencing, rent collection, contract drafting, deposit management, compliance management, maintenance coordination, property inspections, and 24/7 availability. Marketing uses professional photography, 3D virtual tours, and AI-assisted listing tools.
Letio operates through named account managers rather than a central team, which reviewers on Trustpilot cite consistently. The agency holds a 4.9-star rating from 123 verified reviews (May 2026) and holds membership of both the Money Shield Client Money Protection Scheme and the Property Redress Scheme, as required by law.
On fees
The fee figures above are taken from Letio’s published website (verified May 2026) and OpenRent’s published pricing. Both are subject to change. Individual agents’ fees vary, and what is included within a quoted percentage can differ significantly. Always request a written fee schedule and check what is covered before committing to any service.
Self-managed vs managed
The core difference between OpenRent and a managed service is the trade off between cost and the opportunity cost of the Landlord’s time.
For landlords who work full-time, live some distance from their property, or manage several properties alongside other commitments, the hours involved in sourcing and vetting tenants, managing ongoing maintenance queries, and staying current with compliance can be substantial. A void period of even a few weeks can outweigh a year’s worth of saved agent fees.
A managed service transfers those tasks to the agent. This will cost more, it means placing trust in a third party to represent the property and communicate with tenants, and it suits some landlords considerably better than others. The question is which model fits the individual landlord’s circumstances.
Comparison table
The table below compares the two services on key features. It is based on published information and should be treated as a guide rather than a definitive specification.
| Feature | Letio | OpenRent |
|---|---|---|
| Full management service | Yes | No |
| Letting-only fee | 6% inc VAT | £58 + £50 Rightmove (£108 typical) |
| Fully managed fee | 12% inc VAT | Add-on cost |
| Tenant referencing | Included | Not applicable |
| Accompanied viewings | Included | Landlord arranges |
| Compliance management | Included | Landlord’s responsibility |
| Maintenance coordination | Included | Landlord’s responsibility |
| 24/7 availability | Yes (fully managed) | No |
| Named account manager | Yes | No |
| 3D virtual tours | Included | Not available |
| AI-assisted marketing | Yes | Not available |
| Trustpilot rating | 4.9 ★ (123 reviews) | 4.5 ★ |
| Regulated (CMP + redress scheme) | Yes | Yes |
| Coverage | London | UK-wide |
Verify current terms directly with each provider before making any decision.
What reviewers say
OpenRent holds a 4.5 star rating on Trustpilot from over 7,500 reviews (May 2026). Recurring themes include ease of use, fast tenant enquiries, and cost savings relative to traditional agents. The most common criticisms from landlords relate to customer support for non-standard situations and the absence of a direct phone line.
Letio holds a 4.9-star rating from 123 verified reviews (May 2026). The smaller volume reflects the agency’s age; it started trading in 2023. Positive reviews focus on responsive account managers, transparent pricing, and speed of letting. There are no publicly visible negative reviews at the time of writing, though landlords may also want to ask the team directly for references from existing clients.
On Trustpilot ratings
Trustpilot ratings are a useful starting point but should be read with context. OpenRent’s 4.5 stars from 7,500+ reviews and Letio’s 4.9 stars from 123 reviews are not directly comparable given the difference in sample size. Negative reviews on OpenRent’s profile also include a significant number from tenants rather than landlords, reflecting disputes that arise in any large-volume letting operation. Reading the qualitative content of recent landlord reviews on both platforms is more useful than the headline score alone.
Making the choice
OpenRent tends to work well for landlords who:
- Want to keep agent costs to a minimum and are prepared to manage the process themselves
- Have time available to conduct viewings and respond promptly to enquiries
- Are familiar with the compliance obligations involved in letting
- Have flexible schedules and are based close to the property
Letio tends to work well for operators or developers who value efficiency and cost effectiveness, and landlords who:
- Want a full management service without paying high-street fees
- Have limited time, live abroad, or have other professional commitments
- Are new to letting and want support through the process
- Have had a difficult experience with self-management or a previous agent
- Want a single named contact throughout the tenancy
In summary
Both OpenRent and Letio are established options for London landlords. OpenRent offers a low route to listing a property and works well for landlords who want to run the process themselves. Letio offers a managed service at fees below the high-street norm, covering everything from marketing to compliance and maintenance.
Want to find out more about Letio?
If you are considering your letting options in London, Letio’s team is available to discuss your property and circumstances without any obligation. Find out more at helloletio.com
About this article: This article is written to help landlords make an informed choice. Letio’s fee information is taken from their published website (verified May 2026). OpenRent’s fees are based on their published pricing at the time of writing. Both are subject to change. Always confirm current terms directly with any provider before making a decision.
