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  • Buy-to-Let

    Anyone used NLA "Rent On Time"?

    Hello,

    I would like to ask if anyone has used NLA Rent on Time package?

    They charge 5% but seem to guarantee rent paid into bank account irrespective of whether the tenant has paid. If in arrears, they also undertake eviction & cover legal costs. It seems to be a good price as they offer the following which covers quite a bit of what a high street LA offers in full management.  I

    was hoping to use Upad or Openrent to find a tenant and do the management myself but this seems like a good way to reduce the risk of non-payment of rent?

    Also, being inexperienced, it is comforting to have someone to speak to by picking up the phone.

    Alternatively, I can add Rent Guarantee to my landlord insurance which covers the risk of rent default but is far cheaper. Any feedback on this service would be very helpful - Thank you for reading.

    "NLA Rent on Time is designed to assist landlords with the most difficult aspect of administering a residential property investment.

    We guarantee that your rent will be paid in full on the monthly due date regardless of whether your tenant pays or not!

    The NLA Rent on Time service includes:

    • Tenant references (Limited to two checks)
    • Comprehensive tenancy agreements and renewals
    • Deposit registration and protection
    • Expert rent collection and arrears management
    • Rent Guaranteed – paid on the date it’s due, even when the tenant doesn’t pay
    • Rent payable until vacant possession
    • Arrears chasing and administration handled on your behalf
    • Legal Expenses cover in the event of evictions
    • No insurance policy claims required for arrears
    • No excess to pay

    And with a dedicated Account Manager at the end of the phone, you have someone on hand to help." 

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