Fair-Way Properties believe in a fair, clear and open fee principle, as such we have all of our fees clearly displayed in our office and online at www.fwproperties.co.uk.
Full Property Management Fees
Our fees are based on a two tier fixed fee structure:
For a property with a rental price below £600.00 pcm the Full Property Monthly Management Fee is £59.00 Inc Vat per month.
For a property with a rental price of £600.00 pcm and above the Full Property Monthly Management Fee is £69.00 Inc Vat per month.
Initial Costs
Fees due upon successful rental of the property:
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Full Management Setup Fee | £379 | £315.83 |
| Inventory & Checkout Service (Combined) | £12 Per Room*1 | £10 Per Room*1 |
Please Note: The Full Management Setup Fee includes the cost of the tenant referencing which we are now unable to charge the tenants due to the Tenant Fee Ban Legislation effective from 1st June 2019.
Additional Fees:
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Renewal Fee (New Fixed Term Tenancy Agreement) | £200 | £166.67 |
| Issuing of Section 8 Notice | £150 | £125 |
| Issuing of Section 21 Notice | £150 | £125 |
| Professional Hourly Rate | £30*2 | £25*2 |
| Issuing of Section 13 Notice | £100 | £83.33 |
| Issuing Standard Possession Order | £500*3 | £416.67*3 |
| Issuing Accelerated Possession Order | £500*3 | £416.67*3 |
| Issuing Warrant of Possession | £250*4 | £208.33*4 |
| Fire Safety Test | £50 | £41.67 |
| Loan Heating During Repair | £120*5 | £100.00*5 |
* 1 – Please note that there is a minimum charge of £96 Inc Vat (£80 +Vat)
* 2 – Charged by Fair-Way Properties when required
* 3 – Please note that the cost of the Possession Order is not included in the admin fee
* 4 – Please note that the cost of the Warrant is not included in the admin fee
* 5 – Fair-Way Properties will loan sufficient heaters to the tenants during a repair on a Boiler or Electrical Heating System for the duration of the repair, Subject To Availability
Rent Collect Fees
We charge a fixed price of £36 Inc Vat (£30 + VAT) per month to collect the rent, produce a rental statement and pay it into the account of your choice.
This service includes us chasing any late rental payments if necessary.
Initial Costs
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Rent Collect Setup Fee | £449 | £374.17 |
| Inventory Fee | £12 Per Room*1 | £10 Per Room*1 |
| Fire Safety Test | £50 | £41.67 |
Please Note: The Rent Collect Setup Fee includes the cost of the tenant referencing which we are now unable to charge the tenants due to the Tenant Fee Ban Legislation effective from 1st June 2019.
Additional Fees:
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Renewal Fee (New Fixed Term Tenancy Agreement) | £200 | £166.67 |
| Issuing of Section 8 Notice | £150 | £125 |
| Issuing of Section 21 Notice | £150 | £125 |
| Professional Hourly Rate | £30*2 | £25*2 |
| Issuing of Section 13 Notice | £100 | £83.33 |
| Issuing Standard Possession Order | £500*3 | £416.67*3 |
| Issuing Accelerated Possession Order | £500*3 | £416.67*3 |
| Issuing Warrant of Possession | £250*4 | £208.33*4 |
| Fire Safety Test | £50 | £41.67 |
| Loan Heating During Repair | £120*5 | £100.00*5 |
| Holiday Management Cover | £30 per week | £25 per week |
* 1 – Please note that there is a minimum charge of £96 Inc Vat (£80 +Vat)
* 2 – Charged by Fair-Way Properties when required
* 3 – Please note that the cost of the Possession Order is not included in the admin fee
* 4 – Please note that the cost of the Warrant is not included in the admin fee
* 5 – Fair-Way Properties will loan sufficient heaters to the tenants during a repair on a Boiler or Electrical Heating System for the duration of the repair, Subject To Availability
Tenant Find Fees
Initial Costs
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Tenant Find Fee | £599 | £499.17 |
| Inventory Fee | £12 Per Room*1 | £10 Per Room*1 |
| Deposit Registration Fee | £50 | £41.67 |
| Fire Safety Test | £50 | £41.67 |
Please Note: We require use of all our tenancy paperwork to ensure ongoing legal compliance.
The Tenant Find Fee includes the cost of the tenant referencing which we are now unable to charge the tenants due to the Tenant Fee Ban Legislation effective from 1st June 2019.
Additional Fees:
| Fee | Inc. VAT | Ex VAT |
|---|---|---|
| Renewal Fee (New Fixed Term Tenancy Agreement) | £250 | £208.33 |
| Issuing of Section 8 Notice | £200 | £166.67 |
| Issuing of Section 21 Notice | £200 | £166.67 |
| Professional Hourly Rate | £50*2 | £41.67*2 |
| Issuing of Section 13 Notice | £100 | £83.33 |
| Issuing Standard Possession Order | £599*3 | £499.17*3 |
| Issuing Accelerated Possession Order | £599*3 | £499.17*3 |
| Issuing Warrant of Possession | £250*4 | £208.33*4 |
| Fire Safety Test | £50 | £41.67 |
Please Note: additional Services are only available at our discretion and is subject to correct paperwork availability.
* 1 – Please note that there is a minimum charge of £96 Inc Vat (£80 +Vat)
* 2 – Charged by Fair-Way Properties when required
* 3 – Please note that the cost of the Possession Order is not included in the admin fee
* 4 – Please note that the cost of the Warrant is not included in the admin fee
* 5 – Fair-Way Properties will loan sufficient heaters to the tenants during a repair on a Boiler or Electrical Heating System for the duration of the repair, Subject To Availability
Commission
We may also receive commission from (but not limited to):
- Contractors
- Insurance companies
- Referencing companies
- Utility providers
The price you are quoted is the price you pay, often companies we work with on a regular basis pay us a commission due to the number of referrals or the amount of work passed to them.
You are not bound to use the services provided by our recommended 3rd party companies, however due to GDPR and Liability Insurance we cannot instruct your contractors but will aid you in arranging this.
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.
Download our certificate here.
The Property Ombudsman
We are a member of The Property Ombudsman redress scheme.
Our membership number is: T00376
See https://www.tpos.co.uk/ for more details.
