When you first dip your toe into the water of property investment, it would be nice for that property to be near at hand. An area you know well, one where you can pop round to make sure the tenants are ok, and one you know where all the trades are you may need. But what if the area you live in just does not give you the margin you would like to achieve?
That was the dilemma facing Andy and Gill. They lived in West London and in 2014 had just completed a training course in property investment and wanted to begin recouping the cost of that course – a good incentive. So, how did they come across Northwood in Reading? As they tell us “We live in West London but there was not the margin there, we looked further along the Thames Valley, and the plans for Crossrail made Reading attractive. Not knowing the area, we had to find a local agency we could trust and knew the area, and which were the best streets to go for. We didn’t want one which was Sales orientated and pushy, we wanted somewhere that was primarily a Letting Agency.”
“When we came to Reading it was a Saturday afternoon, all the agents seemed to be closed, but after studying the windows of Northwood’s London Street office, Mitch came out of the office, had a chat, and we continued inside over a cup of tea. He was very helpful and we were also attracted to them because of the Guaranteed Rental Scheme, we thought if they are letting agents who can make a success of that they must be good at what they do.” They investigated further, before coming back to Northwood to begin their adventure as landlords.
How was that process for them? “Very painless and straightforward, it must have been as it was six years ago, and nothing sticks in our memories from it! We were going to use the Guaranteed Rental Scheme, as it was our first property, but our confidence in Mitch and Northwood was such that we could manage the properties from afar under the Fully Managed Service, and Northwood found the tenants for us. Mitch has now helped us find three properties in Reading”
They are very happy with the service they have received from Northwood. “One of the ways that Northwood has made our lives easier is that when they contact us to say the tenants have reported a problem, the majority of the time they have also found quotes for the repairs. We have seven other properties and wish the agents in the other locations were as proactive.”
So, Andy and Gill, would you recommend Northwood to other landlords or prospective landlords?
“We would, and we already have to a friend of one of our relatives. We were so impressed with the professional approach of Northwood and the fact they take ownership. This has saved us a lot of time and worry, and we do not need to keep a greater eye on them.”
If you are a landlord and would like more information on Northwood’s Fully Managed or Guaranteed Rental Schemes, please contact them on 0118 9520 810 or reading@northwooduk.com
