Guaranteed Rent guide
Northwood are one of the UK’s leading providers of Guaranteed Rent with 85 offices nationwide and 20,000 satisfied landlords. We have over 20 years experience providing landlords with this hassle and risk-free letting service. We are proud of our Guaranteed Rent service, which offers the certainty of a fixed rental income without the stresses that normally come with being a Landlord.
If the property is vacant or the tenant fails to pay the rent, you still get paid. You will know exactly what will arrive in your bank account each month for the duration of the contract.
No fees or commission
There are no charges for setting the contract up, no tenant introduction fees, no commissions and absolutely no 'hidden extras' to pay.
Legal costs are covered
Occasionally there is a need for court action to evict a tenant or recover unpaid rent which can be both time-consuming and costly. With Guaranteed Rent we will cover the cost of all court action and manage the process whilst you continue to receive your rental payments.
No empty (void) periods
We pay even when the property is empty so there are no void periods on the property for you. With the average void period between tenants of nearly 3 weeks a year (Paragon survey, Feb 2015) this will really help secure your income.
Same day rent payment
We pay your rent on the same day each month, giving you the peace of mind when working out budgets or cashflow for the payment of bills. There is no uncertainty, as we are your professional tenants.
Typical service v. Guaranteed rent
We deal with the tenants
You won’t be bothered at any time by the tenant residing in the property. No requests in the middle of the night to deal with a burst pipe or broken boiler! We organise this all for you.
Guaranteed contract start date
We guarantee you a contract start date so you will know exactly when you can expect to receive your first payment. You will not need to wait for tenants to move in before receive your first payment, as we, effectively, become your tenant.
Internal condition guaranteed
We effectively become your tenant, so it is vital that the tenants we select treat your property with respect. At check out, we cover the cost of internal damages up to 1.5 months’ rent, subject to fair wear and tear, so if things do get damaged, we take the financial hit.