Recent research undertaken by the National Landlord Association suggested that four out of ten landlords earn such slim margins from their rental income that just one missed payment by a tenant can cause serious difficulties.
This is now going to be compounded by the fact that we are fast approaching the peak season of rental arrears … Christmas!
Tenants often struggle to balance the cost of paying for the festivities with paying their rent, and this can often lead to arrears over the festive season and into the New Year.
For landlords who are also struggling themselves or who are operating on tight margins, rental arrears over Christmas can have a devastating impact and ruin a time of year when most people want to relax and enjoy time with family and friends.
Gemma Goodson, Finance Director at Northwood commented:
“Christmas is an expensive time of year and tenants may struggle to prioritise paying the rent or paying for a big Christmas celebration. There is huge social pressure to buy the latest “must have” children’s toys or latest gadget. This is why rental arrears traditionally rise at this time of year and often carry over into January and February.
However, landlords on our Guaranteed Rent Scheme do not have to worry about this seasonal problem, and can enjoy Christmas knowing that their rent is going to be paid on time, regardless if the tenant pays or not.
Our Guaranteed Rent Scheme was designed to deliver complete landlord peace of mind year round – but our landlords particularly appreciate it when they see headlines about rental arrears as they know their rental income is guaranteed, meaning that they can sleep soundly”.
In a recent review, one of our Oldham landlords described the Guaranteed Rent scheme as a “no brainer”:
“I have used Northwood in Oldham for over 3 years and have rented property for over 20 years.
If you want the security of a fixed income without any of the hassle tenants create, then Guaranteed Rent is a no brainer.
I have tried various agents and have also managed my properties myself.
Unless you have the time to commit and the mental capacity to cope with the constant whinging from tenants and their request for the most mundane task be completed NOW, I would look no further than Northwood.
Guaranteed Rent completely removes the risk of having to take tenants to court or write off debt as it is all Northwood’s problem, I just get paid and have to approve the odd job. So unless you are going to do everything yourself, I would now only go for the guaranteed scheme these guys offer.
Nobody is perfect but David, Alex, Mike and Emily are professional, hard working and seem to have all the systems, support of a national company and knowledge most off the tin pot back bedroom agents in Oldham do not. Highly recommended”.
~ Posted by Brian A. on AllAgents Review site on 25th November 2013.
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