We are not registered with a Client Money Protection Scheme (CMP), but we do hold Client Money in a specific Client Money Account.
We are members of The Property Redress Scheme (PRS)
We are members of The Deposit Protection Scheme (DPS)
Premier Red Property offers 3 levels of Service to landlords
LEVELS OF SERVICE OFFERED
| Fee | Cost | Explanation |
|---|---|---|
| Tenant Introduction only Fee | 100% of 1st Months' Rent only. | Includes: - Collect and remit initial months' rent received - Agree collection of any shortfall and payment method - Provide tenant with method of payment - Deduct any pre-tenancy invoices - Make any HMRC deduction and provide tenant with the NRL8 (if relevant) |
| Let Only Basis Fee | 7.5% of the rent (per month) | Includes: - Collect and remit the monthly rent received - Deduct commission and other works - Arrangement payments from rental for statutory requirements - Pursue non-payment of rent and provide advice on rent arrears actions |
| Fully Managed Fee | 12.5% of the rent (per month) | Includes: - Collect and remit the monthly rent received - Deduct commission and other works - Pursue non-payment of rent and provide advice on rent arrears actions - Advice all relevant utility providers of changes - Undertake 2 inspections visits per annum and notify landlord of the outcome - Arrange routine repairs and instruct approved contractors (providing two quotes) - Hold keys throughout the tenancy term. |
*Refer to Landlord Services for a full details of the 3 levels of Services we offer.
ADDITIONAL NON-OPTIONAL FEES AND CHARGES (IRRESPECTIVE OF LEVEL OF SERVICE)
| Fee | Cost | Explanation |
|---|---|---|
| Set-up Fee | £120.00 | - Agree the market rent and find a tenant in accordance with the landlords guidance. - Advice on refurbishment - Provide guidance on compliance with statutory provisions and letting consents - Carry out accompanied viewings (as appropriate) - Market the property and advertise on relevant portals - Erect board outside property in accordance with Town and Country Planning Act 1990 - Advice on non-resident tax status and HMRC (if relevant) |
| Energy Performance Certificate (EPC) (if required) | £75.00 | Arranging access for and conducting and creating the EPC certificate. |
| Gas Safety Certificate (CP12) (if required) | £75.00 | Arranging access for and instructing a qualified gas engineer to attend the property and inspect all gas appliances for safety, and issue a Gas Safety Certificate. For full managed service properties this check is required annually by law. |
| Inventory Fee | £150.00* | Dependent on the number of bedrooms and/or size of property and outbuildings, as well as if the property is furnished or unfurnished. |
| Deposit Registration Fee | £0.00 (Free) | - Register landlord and tenant details and protect the security deposit with a Government-authorised Scheme. - Provide the tenant(s) with the Deposit Certificate and Prescribed Information within 30 days of start of tenancy. |
| Additional Property Visits Fee | £25.00 (per visit) | To attend for specific requests such as neighbour disputes, more visits are required to monitor the tenancy; or any maintenance-linked visit. |
| Submission of non-resident landlords receipts to HMRC Fee | £75.00 (per quarter) | To remit and balance the financial return to HMRC quarterly - and respond to any specific query relating to the return from the landlord or HMRC |
| Arrangement Fee for works over £500.00 | 7.5% of net cost | - Arranging access and assessing costs with contractor - Ensuring work has been carried out in accordance with the specification of works - Retaining any warranty or guarantee as a result of any works |
| Arrangement Fee for refurbishment over £500.00 | 7.5% of net cost | - Arranging access and assessing costs with contractor - Ensuring work has been carried out in accordance with the specification of works - Retaining any warranty or guarantee as a result of any works |
| Obtaining more than two contractors quotes Fee | £25.00 (per quote) | |
| Rent Review Fee | £0.00 (Free) | - Review rent in accordance with current prevailing market condition and advise the landlord. - Negotiate with tenant - Direct tenant to make payment change as appropriate - Update the tenancy agreement - Serve Section 13 Notice if tenancy is on a rolling monthly basis |
| Renewal Fee | £0.00 (Free) | Contract negotiation, amending and updating terms and arranging a further tenancy and agreement. |
| Checkout Fee | £150.00 | - Agree with tenant check out date and time appointment - Instruct inventory provider to attend - Negotiate with landlord and tenant any disbursement of the security deposit Return deposit as agreed with landlord and tenant to relevant parties - Remit any disputed amount to Scheme for final adjudication - Unprotect security deposit - Instruct contractors, obtain quotes, organise repairs/ replacement/ cost of any broken or missing items |
| Serve Notice on Tenant Fee | £25.00 (per hour) | Serving Notice to tenant in relation to Section 8 or 21 |
| Court Attendance Fee | £200.00 (per day) | To attend court |
If you have any questions on our fees, please contact us.