Landlords often learn the hard way.

January 10, 2014

A testimonial received today for our Bromley office served to remind us that novice landlords often have a steep – and expensive – learning curve!

Landlord Michelle posted:

“I came to Northwood letting after having a terrible time with a previous agency. As I have a mortgage I was looking for guaranteed rent – something I did not have with the 1st agent and I went through 5 months of rent arrears and an eviction before lighting upon Northwood.

To be honest I was cynical that Northwood would be any better but I have been with them now for 8 months and my stress levels have gone right down. They deal with any issues the tenant has and contact me when required. I feel my property is safer in their hands. I feel that my ability to pay the mortgage is no longer an issue”.

Thank you to Michelle for reviewing our service.  We value all feedback!

It’s generally believed that statistically, 95% of tenants are “A1” tenants i.e. they pay their rent on time and treat your property with respect.

However, that does leave the 5% that cause havoc and distress by not paying the rent and/or causing damage to the property.  It was one of the 5% that caused Michelle so many problems.

Being a landlord is all about risk mitigation at every stage … from sourcing a suitable property with high tenant demand, to finding the right letting agent, to finding the best possible tenants.

As dinner table and media conversations start up about house prices rising in 2014, many new people will be interested in the returns from investing in property.  However, landlords must understand the risks as well as the rewards.

Bearing in mind that it has been reported recently that one in eleven people in the U.K. are struggling with their mortgage or rent payment, and the onerous and long process of evicting a tenant from a rental property, it has never been more important to make wise landlord choices.

Newbie landlords often make mistakes and poor choices through lack of knowledge, and in property, this can turn out to be a very expensive lesson, not to mention an emotionally charged one.

Some people can afford the time, money, and energy in dealing with tenant and rent problems … but others find it more of a challenge.

At Northwood, being landlords ourselves, we are only too aware of the many problems landlords face, and our entire service has been set up to provide peace of mind to all landlords, based on our years of experience.

Our input will help you avoid most of the problems landlords face – whatever the market conditions – and this, in turn, gives peace of mind, not to mention ending up saving you a great deal of money.

As our Founder, Andy Goodson explains in this video, “everything looks easy until you start doing it!”.

At Northwood, we offer three levels of service for landlords and all our branches around the U.K. will be happy to sit down and work out which is best for you and your individual circumstances.

Read some customer reviews of our Guaranteed Rent service >>> here.

Find your nearest branch >>> here. 

Northwood is one of the largest and most recognised lettings agents in the U.K. and the leading supplier of Guaranteed Rent to give landlords complete peace of mind.

Find us on Twitter @northwoodUK or visit our YouTube Channel.

 

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