Letio vs the high-street letting agents

What high-street agencies offer

High-street letting agencies have built their position in the London market over several decades. Foxtons, Hamptons, Chestertons, and Savills each maintain extensive branch networks across the capital and have large databases of registered tenants built over time.

When it comes to cost, published fee information is not easy to find from most high-street agencies. Many direct landlords to book a valuation before quoting specific figures, and fees can vary by location, property type, and negotiation. The figures below are drawn from published terms and conditions or third-party benchmarks where direct publication is unavailable.

Foxtons

Foxtons’ published terms (verified May 2026) set the letting-only commission at 11% + VAT (13.2% inc VAT), calculated on the total rental value of the fixed term. The fully managed long let fee is 17% + VAT (20.4% inc VAT). A tenancy agreement charge of £450 inc VAT applies for long lets. Contractor referral fees of up to 25% of invoice amounts may also be included in maintenance costs. 

Beyond the percentage commission, Foxtons’ published schedule also includes a range of fixed charges for services such as inventory, check-in and check-out reports, gas safety certificates, electrical reports, and deposit registration. These apply in addition to the management fee and can add several hundred pounds or more depending on the property and tenancy circumstances.

Foxtons holds a 2.8 star rating on Trustpilot. Reviews vary considerably: positive ones tend to highlight individual negotiators and property managers by name, while critical reviews cite inconsistent service quality, difficulty changing contacts, and concerns about charges arising mid-tenancy.

Hamptons

Hamptons does not publish specific fee percentages on its website. Based on third-party benchmarks and industry comparisons, its fully managed fees are broadly comparable to Foxtons. Hamptons’ positioning is oriented towards prime central and south-west London, corporate relocations, and an international client base.

The broader market

Across London’s high-street market generally, letting-only fees run from around 10–15% inc VAT and fully managed fees from 15–25% inc VAT. Additional charges for tenancy renewals, inspections, check-in and check-out reports, and administrative tasks are common and not always disclosed clearly upfront. The total annual cost of a high-street management contract can differ significantly from the headline percentage.

What Letio offers and charges

Letio is a London letting agency founded in 2022, offering full-service letting and management without a branch network. It publishes three service tiers on its website:

• Letting — 6% inc VAT (5% + VAT): Covers marketing, accompanied viewings, financial verification, referencing, rent collection, contract drafting, deposit management, compliance advice, and maintenance advice.
• Managed only — 6% inc VAT (5% + VAT): For landlords who already have a tenant in place. Covers contract management, compliance management, maintenance management, property inspections, and 24/7 availability.
• Fully managed — 12% inc VAT (10% + VAT): The complete service combining both tiers above.

Marketing includes professional photography, 3D virtual tours, and AI-assisted listing tools. Letio holds a 4.9-star rating on Trustpilot from 123 verified reviews (May 2026) and is registered with both the Money Shield Client Money Protection Scheme and the Property Redress Scheme. It is working towards B Corp certification.

What the fee difference looks like in practice

Fee percentages are easier to evaluate when expressed as actual sums. The table below uses a property renting at £2,000 per month on a 12-month tenancy (£24,000 annual rent).

What high-street agents offer

A fair comparison includes being clear about where established agencies have advantages a newer service cannot currently replicate.

• History. Foxtons was founded in 1981; Hamptons in 1869, a positive for landlords who place weight on longevity and institutional continuity.
• Corporate and international networks. Agencies such as Hamptons and Savills have more established relationships with corporate relocation departments and international clients.
• Physical offices. Some landlords know their tenant can walk into a branch rather than just using online search to find a property.

Where Letio differs from the high-street model

The other side of the comparison is also worth setting out clearly.

• Published fees. Letio’s three service tiers and their fees are stated plainly on its website. Most high-street agencies do not publish fee percentages and require a valuation appointment before providing a quote.
• Cost effective. The fee difference, even at the lower end of the high-street range, amounts to several hundred to several thousand pounds per year depending on the property.
• Consistent contacts. Letio’s reviewers regularly name individual team members. High-street reviews are more likely to cite changing contacts or difficulty reaching the person managing their property as frustrations.
• Premium marketing as standard. 3D virtual tours and AI-assisted marketing are part of Letio’s standard offering. At some high-street agencies these features are either unavailable or carry an additional cost.

Side-by-side comparison

This table draws on publicly available information. Individual agency offerings vary. Verify current services and fees directly with any agent before instructing.

Which landlords does each option tend to suit?

High-street agents tend to work well for landlords who:

• Have a large portfolio and want a dedicated investor team
• Want a brand with a long track record

Letio tends to work well for landlords who:

• Want a fully managed service at fees below the high-street norm
• Want their fees and what is included stated clearly before they commit
• Want a named account manager throughout the tenancy

In summary

High-street letting agencies are well-established and have scale. Specialist networks remain relevant at the super-prime end of the London market.

For landlords outside that category, Letio’s published fees are materially lower at every tier, the service scope is comparable, and its Trustpilot record reflects consistent client feedback since launch.

Before instructing any agent, it is worth requesting a full written fee schedule including all potential additional charges, not just the headline percentage.