Calculate your true cost per let

What share of annual ERVs is spent on tenant-find?

Portfolio
Number of properties
Number of new tenant move-ins, annually
Avg. tenancy duration (years)
Avg. number of tenants per property
Avg. monthly ERVs				£
Avg. annual occupancy rate
Annual rent
Direct costs	Input	Monthly	Annual	Total
Number of negotiators
Avg. negotiator base salary			£	£
Commission per let	£			£
Lettings manager salary			£	£
Number of coordinators
Avg. coordinator salary			£	£
Bookkeeper salary			£	£
Head of Tenancy Ops			£	£
Referencing cost per tenant	£			£
Marketing budget			£	£
Portal spend (Rightmove, Zoopla, etc)		£		£
Indirect costs
Employer contribution (%)	%			£
IT - e.g. computers, softwarelicensing, mobiles etc.			£	£
Recruitment fees/HR partners			£	£
Office space (rent, utilities etc)		£		£

Portfolio

Number of properties

Lets per annum

Avg. tenancy duration (years)

Avg. number of tenants per property

Avg. monthly ERVs £

Avg. occupancy rate

Annual rent

Direct costs

Number of negotiators

Avg. negotiator base salary (annual) £

Annual total £

Commission per let £

Annual total £

Lettings manager salary (annual) £ £

Number of coordinators

Avg. coordinator salary (annual) £ £

Bookkeeper salary (annual) £ £

Head of Tenancy Operations salary (annual) £ £

Referencing cost per tenant £

Annual referencing cost £

Marketing budget £ £

Portal spend - Rightmove, Zoopla etc (monthly) £

Annual portal spend £

Indirect costs

Monthly employer contribution (13.8%) and pension cost (3%) %

Annual employer contribution cost £

Annual IT spend - e.g. computers, software licensing, mobiles etc. £ £

Recruitment/HR partners annual cost £ £

Monthly office space costs - including onsite teams' space (rent, utilities, equipment etc) £

Annual spend on office costs £

Your results

Total costs:

Cost per let:

% of annual rental income spent on tenant-find

By comparison, Home Made's avg. tenant-find fee is c.2-3.5% of annual rental income.