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 |
|---|---|---|
| Holding Deposit (per Tenancy) | Equivalent to one weeks' rent | This is to reserve a property. Please note this will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a right to rent check, provide materially significant false or misleading information or fail to sign their tenancy (and/or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing. Should the Tenant(s) withdraw or fail referencing due to non-disclosure and/or falsified references this fee will not be returned. It can, with your agreement be used as a contribution towards your first month’s rent or Tenancy Deposit if the Tenancy proceeds to move in/completion. |
| Pet Deposit (if applicable) | £0.00 (if required) | A Tenant can request permission to keep a pet in the property before the holding deposit is paid and the tenancy is entered in to. A pet residing in the property will affect the monthly rental payment. Properties are often advertised at a higher rent to allow permission for a pet. |
| Tenancy Deposit | (per tenancy) Rent under £50,000 rent per year | Equivalent to five 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. |
| Tenancy Deposit | (per tenancy) Rent of over £50,000 or over per year | 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 This is not a fee, but for transparency we have included it so you have you all the details and outlays you can expect. |
| Fee | Cost | Explanation |
|---|---|---|
| Amendments and or Addition of Clauses Fee | £50.00 | This charge is to cover the cost of changing paperwork once the original’s has been prepared and or issued out. |
| Change of Sharer (Tenant’s Request) | £50.00 | £50 per replacement tenant or any reasonable costs incurred if higher To cover the costs associated with taking the Landlord’s instructions, advertising the property for let and for the preparation and execution of new legal documents. |
| 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. |
| Exceptional Circumstances (Tenant’s Request) | £15 per hour | If extra costs are incurred there will be a charge of £15 per hour for the time taken by the Landlord/Agent in certain limited circumstances. Such costs will be verified in writing in advance where possible. Charges may occur for example when; replacing lost key(s) or other security device(s) eg time taken/ costs incurred for delivery to the property, early termination, change of sharer, variation of contract - for example additional costs of inventory clerk. |
| 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* (Tenant’s Request) | £500.00 | This fee is payable for the early release from your tenancy agreement (subject to the Landlord’s consent) All costs, fees and charges incurred by the landlord for allowing early termination including the agent’s existing or re-letting fees. |
| Fee | Cost | Explanation |
|---|---|---|
| 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. |
| Late Rental Fees | 3% above Bank of England | 3% above the base rate of Bank of England per annum, calculated daily. |
| Replacement Keys Fee | Locksmith charges or actual costs incurred. | Cost of Replacement Keys and or Lock Change should a tenant lose their keys – The locksmiths charges apply. |
The above does not include any charges associated with a breach of contract which will be charged in addition based on the circumstances.
If you have any questions on our fees, please contact us.