Top 5 landlord misconceptions

Being a Scottish landlord can be a rewarding position, but it comes with its unique set of challenges. At Northwood, we believe in transparency and aim to clear the fog around these common misconceptions to empower landlords in the North East with accurate information.

1: “I’ll save money by doing it myself”

The reality: Managing a property involves intricate details, from tenant screening to legal compliance. It’s easy for a DIY approach to become overwhelming, and cutting corners or skipping steps can result in serious fines and even prosecution. One of the biggest questions to ask yourself as a prospective landlord is, how valuable is your time?

How Northwood helps: We know what landlords want and need. We have a range of services from Tenant Find, Compliance MOTs and Rent Collections through to Fully Managed service and our Guaranteed Rent service. We handle every aspect with professionalism and care – with the ability to save countless hours of time.

2: “All letting agents are the same”

The reality: Whilst all reputable agents comply to the same guidance and legislation, each agency operates slightly differently, and choosing the right one can significantly impact your experience as a landlord.

How Northwood helps: With 15 years’ experience in Aberdeen and Aberdeenshire, Northwood brings local expertise. Guaranteed Rent is the only product of its kind in the Scottish, and UK property markets, giving a true ‘let and forget’ solution. Our commitment to getting to know our clients and provide a tailored service is yet another way we lead the market.

3: “Empty properties save money”

The reality: An empty property doesn’t generate rental income and may attract other costs like council tax. Whilst it can be difficult to let go of your home and envisage other people living there, finding the right tenant – quickly – is key.

How Northwood helps: Our Tenant Find service is designed for efficiency, connecting landlords with quality tenants swiftly, minimising vacancy periods. Understanding ideal outcomes helps us target specific tenants from our databases and finding tools to match the right person to the right home. Our Property Managers take the time to listen and build relationships.

4: “Renting is a passive income”

The reality: While rental income is valuable, successful property management requires active involvement to address issues promptly and maintain property value. Being a landlord means you’re on call 24/7, keeping up to date with legislative change and replacing anything that may be required in the property.

How Northwood helps: Our Guaranteed Rent ensures your property is maintained and we handle all tenant communications, whilst you receive your monthly rent paid – on time and each month – as we take on the tenancy for 12 months, offering you security and peace of mind. Find out more about Guaranteed Rent here.

5: “Staying up to date with regulations isn’t that important”.

The reality: Staying compliant with ever-changing regulations is crucial for landlords, and ignorance can lead to legal issues. In our industry, we hear and review countless cases of non-compliance reports and fines, and sometimes asked to independently review such cases. In the most serious of cases, it can result in prosecution.

How Northwood helps: It’s literally our job to stay abreast of all legal requirements. With dedicated legal and compliance teams, we’ll keep you informed and ensure your property operations align with the latest regulations.

At Northwood, we believe in fostering transparent and trust-based relationships with our landlords. This is important for all of our clients, whether starting your property journey or seeking a more efficient management solution, we’re here to provide clarity, support and peace of mind.

Each new landlord meets with Matt, Operations Director, and is then assigned a dedicated Property Manager who will be their main point of contact – available to communicate at our office in Aberdeen and Inverurie, via email or phone. So, if you’re interested to find out more – contact us today!

Aberdeen: 01224 218450 | Inverurie: 01467 530591
Aberdeen: | Inverurie:
207-211 Rosemount Place, Aberdeen, AB25 2XS | 23 West High Street, Inverurie, AB51 3SA