Find out about Northwood's Guaranteed Rent in 90 seconds:
We understand letting a property is an unpredictable and demanding process. There are many uncertainties that can radically affect your actual rental income so you might end up with much less than you envisaged. This is a common shock, particularly for new landlords, who imagine that at the end of the year, they’ll have 12 times the monthly rental in their pockets. Sadly, this is rarely the case. That is why we have developed our Guaranteed Rent scheme; below are a few key points on how it works:
We effectively become your tenant
Many landlords prefer tenants who are professionals. The good news with the guaranteed rent service is that we become your professional tenants. You will only ever deal with us as the contract is between us and you (the landlord).
A fixed start date
No matter how long it takes us to find the right tenant, once the contract is signed and we have the keys to the property we promise to start paying you the rent on or before a set date.
So what's the catch? There isn't one
Many people ask us how we make our money, particularly when we charge no set up fees or commission.
The answer is pretty simple.
We pay you slightly less than the market rent value that we would hope to achieve for the property when we sub-let it but, in return take on all the risk and responsibility for managing it.
Because we are experts in the rental market, we are pretty confident that the annual rental income you actually bank is more than you’d get if you decided to go it alone or use a traditional service.
How does it compare to other types of Guaranteed Rent?
There are a number of different types of 'Guaranteed Rent' offered to landlords. It can be confusing to determine exactly how they differ. However, despite sharing the same name, the range of offerings are significantly different.
We have pulled together a simple comparison chart to highlight the key differences when you are weighing up your options.