Northwood have teamed up with Rent Guarantor to provide added security for landlords.
Professional Guarantor Service: Unlike personal guarantors who may have personal links to tenants and potentially pose higher risks, RentGuarantor is a professional guarantor service. They follow strict procedures, and all contracts are underwritten by insurance with up to £120,000 cover per tenancy, unlike friends or family.
No Risk to Landlords: By standing as a professional guarantor, they ensure that tenants meet their rent obligations, and in the event they do not, RentGuarantor step in to cover the rent.
Expedited Lettings: Their application process is streamlined and efficient, with same-day responses for applications submitted before 3 PM on weekdays. The entire process can be completed within 24 hours.
Summary of RentGuarantor Services: (subject to their full Terms and Conditions).
- Guarantor Service: Stand as the guarantor for approved tenants regarding their rent obligations under the Tenancy Agreement.
- Cost for Tenants: The service cost, which is between 3-5 weeks’ rent a year, is paid by the tenant. They can pay this in full, over 3 months via PayPal, or up to 10 months with Payl8r (subject to eligibility).
- Free for Landlords and Agents: The service is free of charge for landlords.
- Rent Mediation: We mediate with tenants to bring the rent up to date and pay the rent if the tenant fails to do so.
