Northwood saves landlords from nightmare tenants

Latest statistics have revealed that by 2020 more than a fifth of families will be renting their house from a private landlord, putting a spotlight on the increasing problem of nightmare tenants in the buy-to-let market.

As more and more property owners seize the opportunity of a second income by letting out a property, an increased number of landlords will be faced with problem tenants.

The topic has recently attracted the attention of the national media with the likes of ITV and Radio 2 all discussing horror stories faced by some property owners who had let their homes.

“One of a landlord’s biggest worries will always be a nightmare tenant which can be enough to put off many even entering the lettings market”, says Roger Eaves, of leading property business Northwood. “But there is a simple solution that gives landlords a stress free way to let their properties and still reap the rewards.”

The Platinum Guaranteed Rental Income Scheme is a unique package from Northwood that not only guarantees monthly rental payments for the duration of the agreement – regardless of whether they have tenants in situ, and regardless of whether the tenant pays – but also assumes all other contractual responsibilities.

“It works by Northwood in effect becoming your tenant. What this means for landlords is that they don’t have the stress of worrying about tenants not paying or arranging any legal action that may be required if a tenant refuses to vacate or breaks the terms of their contract.

“The package has proved invaluable to our customers particularly through the recession when tenants struggling to make payments have become much more common. As the buy-to-let market continues to grow, we anticipate more and more landlords are going to benefit from the scheme”, concludes Roger.

Northwood, one of the largest and fastest growing lettings businesses in the UK, has been operating for 16 years and has more than 70 offices across the country.

 For more information on Northwood’s Platinum Guaranteed Rental Income Scheme call 01872 262 262 or visit www.northwooduk.com.

Posted 10th Sep 2011  by member Northwood