Let Only Vs Let and Managed

Typically, landlords will deal with a licensed lettings agent when renting out their property to find suitable tenants for their property. They will be your initial point of contact as they will conduct the viewings of the property, and they will vet your guarantees and references to make recommendations to the landlord. Their sole responsibility is to market the rental property and secure a suitable tenant for the landlord. 

At this point the letting agent is no longer involved in the tenancy. This is what we refer to as “Let Only”.

Property Management comes into play after the fact of this initial letting process. The main difference here is that the managing agent remains in contact with the tenant for the duration of the tenancy. The tenants will pay their rent to the managing agent, issue maintenance requests with them, and all other queries that they have during their time at the property. 

Often, the landlord who let’s their property through the agency will use the agents to manage the property. This is called “Let and Managed”.

It is important to note that, although you primarily contact the managing agent in this instance, your contract is between yourself, as tenants and the landlord. The agents are acting on behalf of the landlord. This means that it is the landlord’s ultimate responsibility to ensure that the legal duties and standards of the tenancy are upheld.