Letting out a property doesn’t have to be stressful

October 15, 2014
According to a new survey , one in four landlords say letting property is more stressful than they expected and two thirds admit they are more stressed now than a year ago. The survey shows that the biggest contributing factors are late rent payments (58 %), funding property maintenance and repairs (40 %) and tax worries (38 %).

Other issues that may cause landlord stress are:

1.  Compliance with constantly changing legislation – which currently includes mandatory licencing, roll out of Universal Credit and immigration status checks.

2.  Dealing with damage caused by tenants.

3.  Dealing with anti-social behaviour of tenants.

Of course, the majority of tenants are considered “A1” which means they they pay their rent on time, they keep the property clean and tidy, and they do not act in an anti-social manner. However, EVERY landlord who lets out a property is taking on the risk of the tenant not paying the rent or indeed not having a tenant for a period of time.

Each of us has a different attitude to risk and a different risk “threshold” when it comes to managing a rental property. Some landlords simply wish to “let and forget” and that is where Northwood’s market leading Guaranteed Rent service comes into its own.

Created 19 years ago, our Guaranteed Rent is the ultimate antidote to landlord stress whereby a landlord is paid the rent on time, every month, whether the property is let or not, whether the tenant pays or not.  We manage the property, deal with tenant selection and issues, deal with repairs, and ensure the property and tenancy is compliant with the latest legislation.

We recently received a testimonial from a very happy and stress-free landlord who had not missed a single rental payment on our Guaranteed Rent service for a total of 14 years!

In this particular case, Northwood even ended up selling the property for this landlord.

If you have any questions, your local Northwood office would be pleased to advise.

For more information on our Guaranteed Rent service, please visit our website

Northwood is one of the UKs leading suppliers of Guaranteed Rent to give landlords complete peace of mind.

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

 

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