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 takes a refreshingly honest approach to charging tenant fees and believes that all tenants’ applying for a tenancy should understand all of the fees that they are required to pay. We do not have quotation or change our rates dependant on the tenant or property. Our fees are fixed and transparent.
| Fee | Cost | Explanation |
|---|---|---|
| Reservation Fee | £250.00 | The property will be reserved in your name for a period of 7 days from the date of receipt. If references forms are not returned within 7 working days the property will be placed back on the market and you will lose the Holding Deposit. We may show it to other people but no other tenancy applications will be accepted while the property is being held for you. If you withdraw from the tenancy at anytime the monies will be forfeited in full. If you fail references because of undisclosed adverse credit history, the reservation monies will be forfeited in full. This forms part of your refundable security deposit the balance of which will be paid prior to the start of the tenancy. |
| Tenant Referencing Fee | £200.00 | On application, all prospective tenants will be required to pay a non-refundable* Referencing Fee in order to process your tenancy. The Referencing fee covers the cost for us to over-see the referencing process, which consists : Identity, immigration, and visa confirmation, financial credit checks, obtaining references from current or previous employers/ landlords and any other relevant information to assess affordability. * Note the following circumstances: – If your checks have been completed and you have an overall satisfactory result (Pass), we then pass this information to the landlord to ultimately decide if he would like to offer the property to you. If the landlord say’s no or has found his/her own tenant, we will refund you 100% of the amount you have paid. Exceptions – If your checks have been completed and you have an overall non-satisfactory result (Fail), your application will not be progressed further unless you either provide a UK home owner guarantor or the landlord wishes to have 3 months rents paid in-advance. If you cannot provide a guarantor or the 3 months rents in-advance, we will not be refunding the amount you have already paid as your application will be withdrawn. Additional fees will be required to process a guarantor application. – You decide the property is not for you after the process has started, we will not refund the amount you have already paid. |
| Additional Tenant Reference Fee | £50.00 (Per tenant over the age of 18) | Processing the application, associated paperwork and referencing. |
| Tenancy Set-up Fee | £150.00 (Initially only) | Once your references and checks have passed, we will then process your tenancy set-up. The Tenancy set-up fee covers the cost for us to prepare the necessary contractual paperwork in preparation for tenancy commencement, including; the tenancy agreement, deposit registration and standing order mandate for the monthly rental payments. |
| Guarantor Referencing Fee | £150.00 (if required) | Covering credit referencing and preparing a Deed of Guarantee as part of the Tenancy Agreement |
| Company Referencing Fee | £500.00 (if required) | Covering credit referencing and Processing the application, associated paperwork and credit referencing. |
| Permitted Occupier Fee | £50.00 (Per Occupier) | Explaining to any permitted occupier their rights and responsibilities towards the named tenant(s) and landlord as well as the provision of documentary guidance and assistance during the tenancy. |
| Accompanied Check-In Fee | £0.00 (Free) | We do not charge for this service, a detailed Inventory and Schedule of Condition of the property, explaining how appliances function and taking meter readings for utilities and services. We will send you one electronic copy free of charge at the start of your tenancy, subsequent copies will incur an admin charge of £25, if tenants require a hard copy of the inventory report there will be a charge of £50 per copy. |
| Pet Deposit Fee | £250.00 (if required) | To cover the added risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy, subject to condition of the property. |
| Pet Clause Fee | £50.00 (if required) | Addendum to the tenancy agreement for any pets kept at the property. Majority of our property’s are pet free therefore this fee never applied. |
| Property Deposit Fee | Equivalent to six weeks' rent | To cover the risk of property damage. This will be protected with your security deposit in a Government-authorised scheme and may be returned at the end of the tenancy, subject to condition of the property. |
| One Month Rent in advance | Subject to the Rental Agreement. | This is not a fee, but for transparency we have included it so you have you all the details and outlays you can expect. If you credit and referencing checks are deemed high, we may ask for 3 months' rent in advance. |
| Fee | Cost | Explanation |
|---|---|---|
| Amendments and or Addition of Clauses Fee | £75.00 | Contract negotiation, amending terms and updating your tenancy agreement during your tenancy. |
| Renewal Fee | £0.00 (Free) | We do not charge for this service, Contract negotiation, amending terms and updating your tenancy agreement for your renewal tenancy agreement. |
| Fee | Cost | Explanation |
|---|---|---|
| Check-out Fee | £0.00 (Free) | We do not charge for this service, when you vacate the property, we will meet you to undertake an updated Schedule of Condition based on the original inventory and negotiating the repayment of the security deposit(s). |
| Future Landlord Reference Fee | £0.00 (Free) | We do not charge for this service, we will collate the information and prepare a reference for a future landlord or letting agent. |
| Early Termination Fee | £500.00 | This fee is payable for the early release from your tenancy agreement (subject to the Landlord’s consent) to cover the Administration costs for raising and orchestrating the Deed of Surrender which both Landlord and Tenant sign into. The out-going Tenant will also pay for the Check-Out against their tenancy, and those costs in relation to the set-up of the new tenancy i.e. inventory up-date, deposit re-registration, re-advertising and the preparation of a new tenancy agreement). |
| Fee | Cost | Explanation |
|---|---|---|
| Additional Copies of documents Fee | £25.00 | This fee covers duplication of any document, such as lost tenancy agreement. This charge is per document requested. Our policy is to send the duplicate scanned document via e-mail within 14 days of any requests. |
| Out of Hours Service Fee | £25 (Per hour) + any actual costs incurred | Where actions of the tenant(s) results in the agent (or nominated contractor) attending the property, time to remedy the situation is charged at the hourly rate. |
| Aborted Appointments Fee | £75.00* | If during the tenancy an appointment is made and confirmed with you for a maintenance visit, should the appointment be missed or the contractor denied access there will be a fee levied. * This fee may be higher, and dependant on the contractor's own charge out fee. |
| Landlord/ Agent non-fault property visit Fee | £75.00 | Should you report a fault at the property which requires attendance of a contractor that ultimately requires no attention or is the fault of the tenant. The charge will be made to cover the cost of the contractor call out. This includes lost keys which are subsequently found when the contractor is on route. |
| Unpaid Rent/ Returned Payments Fee | £25.00 + 3% above Bank of England | £25 for the 1st & each subsequent 7 day arrears letter sent plus interest as per the tenancy agreement. The Landlord reserves the right to charge interest on any amounts of rent due and in arrears calculated on a day to day basis from the date that the same shall become due until payment in full is made and recover the interest as though it were rent. |
| Replacement Keys Fee | Locksmith charges | Cost of Replacement Keys and or Lock Change should a tenant lose their keys – The locksmiths charges apply. |
| Professional Cleaning (if required) Fee | £30 (per hour) deducted from the Security Deposit | Only charged where professional cleaning is necessary to return the property to the same condition as at the start of the tenancy. |
If you have any questions on our fees, please contact us.