Landlord Services

There are many key decisions to make when becoming a landlord, choosing the right letting service that meets individual needs is one of the most important. The fundamental differences between the level of services available are the depth of financial risk a landlord is prepared to accept, the amount of responsibility and personal involvement they want to have and whether they prefer to be anonymous or be known to their Contract Holder. At Northwood Estate and Letting Agents in Wrexham, we offer four different levels of service for a landlord to consider.

Guaranteed Rent Service

Our Guaranteed Rent Service offers a landlord the benefit of a guaranteed fixed income, paid on the same day each month, irrespective of whether the property is occupied, or the rent has been paid by the contract-holder (the Contract Holder). The landlord is in contract with Northwood and their anonymity is then maintained from the contract-holder. We meet the costs of Rent Smart Wales landlord registration; we attend court in the capacity of the landlord and meet the associated legal fees and courts costs should it become necessary to gain legal possession from the contract-holder. It’s the perfect let-and-forget-solution for those wanting a secure income without the day-to-day responsibility that comes with being a landlord.

With this type of agreement, a landlord’s income is guaranteed over a 12, 24 or 36 month contractual period without incurring set-up fees, commissions of administration charges that can be associated with other levels of service.

Fully Managed Landlord Service

The Fully Managed Service is suitable for landlords who want the expertise of Northwood to manage their property, the contract-holder relationship, and organise maintenance in compliance with a landlords regulatory and legal responsibilities. This service would meet the needs of the landlord that has limited time and/or expertise to manage their property and the contract-holder relationship. With this service, the landlord accepts the risk to rent arrears, the loss of rent during vacant periods and is prepared to represent themselves in court should it become necessary when seeking legal possession of their property from the contract-holder.

With the Fully Managed Service, a landlord will need to register with Rent Smart Wales, incur a set-up fee with each new period of occupation-contract and is charged a management fee which is deducted from the rent collected. There are no additional administration fees charged to the landlord with this service.

Rent Collection Service

The Rent Collection Service meets the needs of the landlord who has the time and energy for taking responsibility of the day-to-day management of their property and the contract-holder relationship; however, appreciates support with some contractual, financial, and administrative duties.

With the Rent Collection Service, a landlord will incur a set-up fee with each new period of occupation-contract and charged a commission which is deducted from the rent collected.

Tenant Find Service

Some landlords prefer to be completely hand-on and manage their own property, accepting responsibility for managing the property, the relationship with the contract-holder, and financial and administrative duties.

With the Tenant Find Service, a landlord will need to register as a landlord and be licensed as an agent with Rent Smart Wales and demonstrate proficiency by completing approved training. A fixed-fee or commission is incurred by the landlord for Northwood to carry out services which would include marketing the property and preparing the Written Statement and Contract-holder Agreement.