A new online service has been launched for Irish investors in the London property market. WebLet is an Internet-based property management company.

Through its website (www.webproperty.com) landlords can receive property management services for a fixed fee of £60 sterling (€94) per property per month. Under the scheme, a landlord earning £350 sterling per week from a property could save £376 sterling per year.

Web-Let says the more valuable the property, the greater the saving will be. The site is offering competitive rates against the typical 6 per cent commission charged by traditional estate agents, because it collects rents via direct debit.