For Property Owners: Advice for Landlords
If you are thinking of renting out your property for the first time or if you are already a seasoned property landlord, we are happy to give general or more property-specific advice to guide you through the process free of charge with no-obligation.
We can guide you through the buy-to-let process if you are looking to purchase an investment property and advise on what type of property might be most suitable in terms of general tenant demand, whether to buy freehold or leasehold, what kind of rental return you can expect and how best to present a property for letting. If you have specific properties in mind, our lettings team will be happy to review them and give you feedback before you submit any offers. Occasionally, we have existing landlords wishing to sell their properties and may have opportunities to purchase a ready-made rental investment with a tenant in-situ.
There is a wealth of information under the “Landlords” tab at the top of this page including details of the three lettings services offered by Northwood Worcester:
Our hallmark Guaranteed Rent Service (not to be confused with guaranteed rent insurance policies offered by other companies) includes a full letting and management package and gives the added peace of mind of a fixed rent start date with an agreed rental income for 1, 2 or 3 years at a time, payable each month even if the property becomes empty. This really is a “Let it and forget it” solution that over 12,000 property owners in the UK are currently enjoying.
Working out just how much rental income you might receive after fees and charges can be a challenge when comparing different letting companies. Northwood believes fees should be clear and transparent with no “nasty surprises” further down the line.
Many agents offer an apparently low “headline-grabbing” fee, but do check on the myriad of other fees and charges added on top for other bits and pieces that you will need to budget for. With the exception of our Guaranteed Rent Service which has no fees, everything is wrapped up in just three charges:
- Letting Fee – a fixed fee for letting a property to a brand-new tenant be it a 1-bed flat or a 6-bed detached house (including inventory and set of property photographs)
- Management Fee – (for our Fully-Managed Landlord Service) a fixed monthly fee that covers everything else including tenancy deposit protection, rent collection, property inspections, coordination of maintenance/repairs and end-of-tenancy checkouts.
- Renewal Fee – for renewing a tenancy contract with an existing tenant
Northwood Worcester keeps all tenancy functions in-house meaning we do not farm out any part of the letting process to third-party companies e.g. tenancy referencing. This gives us a more detailed understanding of prospective tenants’ circumstances and enables us to better advise and make appropriate recommendations to owners.
We Switch You – If you’re unhappy with your current letting agent for whatever reason and you feel they are not providing the service set out in your terms of business with them or maybe you just feel it is time for change, we can help by taking on the admin process of changing agent for you in a similar way to what is offered by the banks and building societies giving you a “no hassle” solution. For more information, click HERE.
For Tenants: Your Trusted Rental Partner
If you are looking for a rental home or are wondering how the letting process works, please get in touch and we will be happy to help. There is also much information under the “Renting” tab at the top of this page including a step-by-step guide to renting.
Email Alerts – You can set up email alerts to receive details of newly listed properties by setting up a My Northwood account and registering your property requirements by clicking HERE.
We do not farm out any of the tenancy application or management processes to third-party companies. This means that if there are any queries with your application or if additional information is required to enable it to be given full and proper consideration, a friendly member of our Northwood lettings team will contact you to discuss how we can help move things forward rather than your application simply being turned down because you may not meet standard criteria set by a referencing company.
We understand that everyone’s circumstances are different and sometimes financial situations can be complex. We will take the time to discuss your situation with you before any recommendations or decisions are made regarding your application.
The people you meet in our office are the people you will deal with throughout the tenancy application process and, if we manage the property for the owner(s), for the duration of your tenancy contract. This means that you will know which member of our team for example will be helping you if you have a maintenance or repair issue to report or a query regarding your tenancy contract. We are a local business and we are here to help.
