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I have read about Northwoods guaranteed rent scheme but also read some very negative reviews on a different forum but nothing specific about the Coventry branch. Just wondering if anyone from Coventry use Northwoods and what their experience was with them?
I have seen very few negative reviews about any Northwood branch.However, some people have an unrealistic expectation of what Guaranteed Rent they will be offered. It stands to reason that, if NW is underwriting the tenancy with GR, then there needs to be some kind of margin in it, to make the taking of that risk worthwhile.The GR proposition is really only appropriate for landlords who want to be completely hands off and/or who want complete peace of mind that the rent will come in every month, without fail. It is very popular with ex-pat landlords, those that live a long way from their property, and those landlords who have a very busy career and just want properties on the back burner, not having to invest time in them.Northwood offer all other levels of service, such as let only and fully managed. They are not just solely about GR although it is what they are known for, as they originated it over 20 years ago.With regards to the Coventry branch, there is only one review for them on AllAgents, and it is 5 star:Probably the best way forwards would be to book an appointment to attend their office and have a chat and see how you resonate with the team there.What you can be certain of is that they are fully compliant and up to date with legislation, as Northwood place a great emphasis on this.I hope that helps?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I guess the scheme is only suitable for unencumbered freehold property otherwise you will need consent from the lender and the freeholder where the property is leasehold..You will olso need specialist buildings insurance
I know it’s not the same branch but I used ‘Northwood Warminster’ for 3 years and they were excellent. I used their RG service and always got paid on time, every time.As a guide the rent they were getting was £775 and they were giving me £570. So they are on the expensive side but I needed to know that I was getting guaranteed rent at the time.I would give them 5*