In recent weeks, you can’t open a newspaper or log on to a news site without seeing headlines about the increase in rental arrears. The fact that falling wages and increases in the cost of living are putting a strain on everyone’s income have been well documented over the last 3-4 years, but recently, equally well-publicised is the impact this is having on an increasing number of tenants, who are struggling to pay their rent. The knock-on implications for landlords don’t need to be spelled out.
This is why we believe so strongly in our guaranteed rent service. Arguably, there has never been a better time for landlords to consider it as an option. It’s the only way of giving you peace of mind that you won’t lose out financially from month to month should your tenant default on rent payment.
Northwood’s Guaranteed Rent service is a minimum 12 month contract during which we manage every aspect of the tenancy and effectively become your tenant. It means that, regardless of whether the tenant is paying the rent on time (or at all), you are guaranteed to get your rental income every month without fail.