Premier Red Property takes a refreshingly honest approach to charging tenant fees and believes that all customers 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.
£250 holding deposit
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.
One Month Rent in advance
Dependant on 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.
Administration & Referencing Fee Incl. Tenancy Agreement
On application, all prospective tenants will be required to pay a non-refundable Administration and Referencing Fee in order to process your tenancy.
The Administration & Referencing fee covers the cost for PRP 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 and to over-see the referencing process, which consists of a credit check, confirmation of your employment status and salary via your current (and where applicable future and/or previous) employer, obtaining a current and/or previous landlord’s/managing agent’s reference, and general background checks in order to assess your affordability level against the monthly rental of the property you are applying for and your suitability as a tenant.
Each Additional person Reference Check
This charge covers all credit checks, referencing and administration in processing your tenancy application of each additional tenant above the age of 18. This fee is non refundable.
Pet Deposit (if applicable)
This pet deposit will be held within the deposit scheme. Majority of our property’s are pet free therefore this fee never applied.
Inventory Check-in Fee
We do not charge for this service, a detailed inventory including photographs is taken of the entire apartment. Only electronic copies will be available, if tenants require a hard copy of the inventory report there will be a charge of £50 per copy.
Inventory Check-out Fee
We do not charge for this service, when you vacate the property, we will meet you to check the condition of the property against the inventory created when you moved in. Provided the property is clean and in the same condition we will process your deposit return.
Amendments and or Addition of Clauses
This charge is to cover the cost of changing paperwork once the original’s has been prepared and or issued out.
This charge covers duplication of any document, such as lost tenancy agreement. Electronic copy sent via e-mail there is no charge and is free.
Tenancy Renewal/ Extension
We do not charge administration fees for renewing tenancy’s at the end of the fixed term.
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.
Landlord/ Agent non-fault property visit
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 rent fees
£25 + 3% above Bank of England
£25 for the 1st & each subsequent 7 day arrears letter sent plus interest as per signed 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.
Early Termination Fee
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.)
Cost of Replacement Keys and or Lock Change should a tenant lose their keys – The locksmiths charges apply.