Tenant Fees

Fair-Way Properties believe in a fair, clear and open fee principle, as such have all of our fees clearly displayed in our office and online at www.fwproperties.co.uk.

Initial Application Fees:

Administration Fee*1£180£150
Referencing Fee (Per Applicant 18+)*2£60£50
Guarantor Referencing Fee (Per Application)£60£50

*1 The Administration Fee covers the cost of issuing & processing of all the relevant paperwork for the tenancy.
*2 The Referencing Fee covers the cost of carrying out the Credit Check, the Previous Landlord / Agent Reference and the Employers Reference.

The initial costs of an application are made up of:

Administration Fee + Referencing Fee’s + Guarantors Referencing Fee

These fees are all paid upon application for a property.

Ongoing Tenancy Fees:

Renewal Fee£150£125
Late Payment Fee£30£25
Over Payment Fee£30£25
New Landlord Reference£30£25
Professional Hourly Rate£30£25

Our Fees Explained:

Application Fees:

Administration Fee £180.00 Inc VAT

This cost covers the cost of administration done during the application process including: Receiving & processing of application paperwork and ID, drawing up tenancy agreement & issuing relevant legal compliance paperwork.

Applicant Referencing £60 Inc VAT (Per Applicant 18+)

Applicants 18 years or over applying to rent (or as a permitted occupier) at a property will be charged an applicant referencing fee per applicant. On receipt of payment we will undertake references for our client the Landlord which will include, a credit reference, an employer’s reference and a rental reference from your Landlord if applicable.

Guarantor Referencing£60 Inc VAT (Per Guarantor)

If you haven’t been employed for longer than 6 months, or you are not in permanent Full Time employment, or the rent is more than 40% of your annual income, a guarantor will be needed. Your guarantor will be charged a guarantor referencing fee of £144.00 Inc. Vat and go through the same referencing process as you and will agree to take joint responsibility for the rent of the property. The guarantor will be liable to pay any rent arrears and for any damages the deposit does not cover.

Other Fees:

Tenancy Renewal £150 Inc VAT

When nearing the end of your fixed term Tenancy Agreement if you would like to renew for a further fixed term, the tenant will be charged £150.00 Inc. VAT for the re-negotiation and preparation of the Tenancy Agreement.

Typically, this is shared 50/50 between landlord and tenant and each party pays £75 Inc VAT.

Late Payment Fee £30 Inc VAT

Fee charged when the rent is not received by the rent due date on your tenancy agreement (unless otherwise authorised by the landlord in writing). This charge covers the cost of administration chasing payment and informing the landlord. If the late payment fee is not paid within 7 days of issue a further late payment reminder fee of £18 Inc VAT will be charged.

Overpayment Fee £25 Inc VAT

At the end of your tenancy you must cancel the standing order for rent payments, as we can’t do this for you. For returning any overpayments back to your account you will be charged for this administration.

New Landlords Reference £25 Inc VAT

For any outgoing references to future Landlords or Letting Agents, you will be charged an administration fee.

Professional Hourly Rate £25 Inc VAT Per Hour

We charge £25 Inc VAT Per Hour (Minimum 1-hour charge) for any work carried outside of our normal management duties. i.e. delivering keys, additional inspections caused due to tenant, court visits on behalf of a tenant.

Client Money Protection

We are a member of Client Money Protect’s client money protection scheme.

Our membership number is: CMP003631

As members of Client Money Protect funds held by us are protected up to £500,000 with a single claim limit of £25,000 per client.

See https://www.clientmoneyprotect.co.uk/ for more details.