Fees
We charge on the value under management — not on a share of rental income.
Every fee we charge is set out below. Nothing is hidden, nothing is added later, we take no markup on third-party costs, and our Governance Fee is unchanged by rent reviews, voids and tenancy turnover.
How to work with MPG
Baseline Report
A one-off assessment for owners who want to know where they stand.
£2,500 · per report
A documented assessment of where the asset actually stands, issued within 30 days. Also the first step of every Mandate — commission it on its own, and you are not charged again if you appoint us. Add £1,200 for each additional property.
Mandate
Full service. Complete care of your prime asset.
0.60% · of property value, per year
Minimum £6,000 per client and £3,000 per let property. Begins with a Baseline Report — £2,500.
Client money held in a ring‑fenced account. Rent collection, contractor management, compliance and tax coordination.
Tenant sourcing is carried out by MPG at a flat £1,800, never a percentage of rent. No letting fee where the property is already tenanted.
Monitoring
For owners who let the property themselves, or through another agent.
£2,200 · per property, per year
Compliance calendar, deadline alerts, annual governance review, secured dataroom, regulatory change notices, and two review calls a year.
No client money, contractor instruction or tenant contact. Runs on information you supply, not verified by MPG. Up to two properties. No Baseline Report required. Governance Credit does not apply. Minimum term 12 months.
Representative engagements
| A £1.5m flat | A £3m house | |
|---|---|---|
| Governance Fee, 0.60% per year | £9,000 | £18,000 |
| Baseline Report, first year only | £2,500 | £2,500 |
| First year | £11,500 | £20,500 |
| Each year thereafter | £9,000 | £18,000 |
Where the property is already tenanted at the start of a mandate there is no letting fee, and the first year is as shown. Where it is vacant, initial tenant sourcing is charged once at a flat £1,800 — making the first year £13,300 and £22,300 respectively.
Where 0.60% of value falls below the minimums, the greater of £6,000 per client and £3,000 per let property applies. All figures shown are the total payable. VAT is not currently applied; where it becomes applicable, it will be charged at the prevailing rate.
The Governance Credit — our accountability undertaking
Where a fine or penalty is imposed on you as a direct result of our negligence, we credit you up to 12 months' Governance Fee — the lower of that sum and the amount of the penalty, including tribunal fees and the reasonable cost of challenging or correcting the failure.
No claim, no proof of loss, no dispute process. Credits are capped in aggregate at 12 months' Governance Fee in any 12-month period. Reduced to the extent a failure was caused by information, funds or authorisation not provided to us, or by acting against our written advice.
The Mandate, in detail
Portfolio banding
A single property falls within the first band. Rates apply to the portion of value in each band, per year.
| First £8m | 0.60% |
| £8m – £15m | 0.50% |
| £15m – £25m | 0.40% |
| £25m – £50m | 0.35% |
| Above £50m | 0.30% |
Minimum fee
The Governance Fee is the greater of 0.60% of aggregate property value, £6,000 per client, and £3,000 per let property.
£3,000 is 0.60% of £500,000 — each let property is treated as being worth at least that much, because each carries its own compliance calendar, certificate cycle and tenancy.
Valuation basis
Purchase price, or the most recent RICS Red Book valuation, whichever is later. Revalued every 3 years, instructed and paid for by the client from an agreed panel of RICS valuers — never by MPG. The fee is fixed between revaluations, and falls if the property falls in value.
Engagement commitment and rate discount
| 12 months (minimum) | 24 months | 36 months |
|---|---|---|
| Standard rate | −10% | −15% |
Applied to the percentage. The minimum fee is not discounted.
Billing
Billed monthly at one-twelfth and settled from rent as it is received. Where a void or arrears leaves insufficient rent in any month, the balance is invoiced directly, payable within 14 days.
Unchanged by tenancy turnover, voids, or rent reviews.
Letting
Letting is charged as a flat fee, never as a percentage of rent. Where a property comes to us with a tenant already in place, there is no letting fee at all.
| Property already tenanted at the start of a mandate | No letting fee |
| Initial tenant sourcing — where the property is vacant at the start of a mandate, or becomes vacant within the first twelve months | £1,800 flat, once |
| First re-let in any twelve-month period thereafter | Included |
| Second and subsequent re-lets in the same period | £1,500 each |
| Renewal with the same tenant | Always included |
| Portal listing costs | At cost, no markup |
Initial tenant sourcing covers marketing, viewings, referencing, Right to Rent checks and tenancy documentation, all carried out by MPG. It is a single flat sum and does not move with the rent. Traditional letting agents typically charge four to six weeks' rent for the same work — £4,600 to £6,900 on a tenancy at £5,000 a month.
After the first twelve months, the first re-let in any twelve-month period is included in the Governance Fee: no sourcing fee, no renewal fee, and no increase in the Governance Fee. Only the portal listing cost is reimbursed, at cost (typically between £100 and £350). The twelve-month period runs from the mandate anniversary, not the calendar year.
Where the client elects to instruct a third-party agent to widen the search, that agent's fee is payable by the client. MPG takes no commission, split or referral fee from any agent.
Non‑rental and second homes
The greater of 0.30% of value, £6,000 per client, and £1,800 per property, per year.
Begins with a Baseline Report — £2,500.
Compliance calendar, insurance oversight, contractor management, periodic inspection, utilities and service charge administration, secured dataroom, structural and capital risk monitoring.
Attended services
| Owner visit preparation | £450 per visit |
| Attended time, ad hoc | £95 per hour, minimum 2 hours |
| Full-day attendance | £650 |
| Third-party costs and disbursements | At cost, no markup |
Billing
Invoiced quarterly in advance. Attended services and third-party costs are invoiced monthly in arrears with receipts.
Included in every Mandate
Tenancy, deposit and non‑resident landlord items apply where the property is let. All other items apply to rental and non‑rental mandates alike.
†Marketing, viewings, referencing and tenancy documentation are carried out by MPG. Where the property is already tenanted at the start of a mandate, there is no letting fee. Where it is vacant at the start, or becomes vacant within the first twelve months, initial tenant sourcing is charged once at a flat £1,800 — never a percentage of rent. Thereafter the first re-let in any twelve-month period is included in the Governance Fee; second and subsequent re-lets in the same period are charged at £1,500 each. Renewals with the same tenant are always included. Portal listing costs are passed through at cost.
*Coordination and review by MPG, which is registered with HMRC as a letting agent under the Non-resident Landlords Scheme. The return is prepared and filed by a chartered accountant of your choice, at their fee.
Project Services
Quoted on a case-by-case basis according to the complexity of the matter, typically £2,500 – £18,000.
Including, but not limited to: SPV and ownership structuring · cross-border tax planning · succession and estate planning · acquisition due diligence · planning and supervision of property improvement projects · disposal management · dispute and crisis handling.
All project fees are quoted and agreed in writing before any work begins.
Coordination and supervision of repairs, emergency response and statutory compliance works are included in the Governance Fee. Project fees apply only to planned works that improve, extend or upgrade the property.
Regulatory disclosures
Client money protection — Money Shield, membership no. 82509005. Client money is held in a designated client account, separate from MPG's own funds. Certificate · Scheme rules
Redress — The Property Ombudsman, membership no. T14310. Complaints we cannot resolve with you may be referred to TPO at Unit 159756, PO Box 7169, Poole, BH15 9EL. Our complaints procedure
Deposit protection — TDS Custodial, member no. EW173476.
Data protection — ICO registration ZC143143.
Company — Mandate Property Governance Ltd, registered in England and Wales, no. 17201194.
Full company, regulatory, complaints and data protection information is set out at Legal and regulatory, including our privacy notice.
All fees shown are the total amount payable. VAT is not currently applied; where it becomes applicable, it will be charged at the prevailing rate. Third-party costs and disbursements are passed through at cost, with no markup.
How to begin
1
An introductory call
We discuss the property, your position, and whether a mandate is the right fit. No charge.
2
The Baseline Report
Commissioned at £2,500 and issued within 30 days: a documented assessment of where the asset stands, with a prioritised remediation plan.
3
The mandate begins
The Governance Fee runs from the commencement date, billed monthly. Where the property is already tenanted, there is nothing further to pay. Where it is vacant, initial tenant sourcing is charged once at a flat £1,800.