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A summary of good practice when it comes to management fees charged by your agent.

As a professional body for managing agents, TPI does not set, recommend or give any guidance on fee levels or market rates to its members.

There is no norm or standard management fee for managing a block of flats. The fee will depend upon the size and type of property and the range of services required.

However, TPI is very keen that its members act ethically when negotiating with and charging fees to landlords including Residents’ Management Companies (RMCs) and Right to Manage companies (RTMs).

In this Advice Note, we have set out what we believe is good practice for agents when it comes to agreeing management fees with their clients.