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TODAY'S OTHER NEWS

Agency embarks on TV advertising campaign to promote ‘guaranteed rent’

Northwood, part of the Belvoir group, has launched a new TV advertising campaign to highlight its guaranteed rent scheme, in response to landlord concerns about the rental market.

Phil Gee, managing director of Northwood, insists that his firm recognise that many landlords currently have “concerns”, including worries over the impact of Brexit, the economy and the future of the rental market, which are factors that are having a negative impact on growth rates.

He commented: “Our franchisees are reporting that landlords are expressing considerable interest in Northwood's Guaranteed Rent Scheme, and as a result we have commissioned a TV advertisement, which will be live on the ITV Hub until the end of this month.

“Northwood's guaranteed rent scheme assures landlords that they will get paid on time every month, without fail. There are no set-up fees, monthly commission, or hidden extras to worry about, and over 20,000 landlords across the country are worry free because they use Northwood. We felt the time was right to raise awareness of our Guaranteed Rent Scheme to help even more landlords.

“This is not the first time that Northwood has used TV advertising, but it has been three years since we last committed to this type of proactive marketing.

“The TV advert will run on ITV hub up until to the end of February and is likely to receive a total of 700,000 views. It will be shown in all regions that ITV cover and we have also arranged for the ad to shown on STV Scotland so that our franchisees in Scotland can also benefit from the campaign.”

Poll: Does the idea of a guaranteed rental income scheme appeal to you?

PLACE YOUR VOTE BELOW

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    Wouldn't be for me, thanks all the same.

  • Paul Barrett

    It has its place but for self-managing LL it would be giving a lot of the profit away.
    But clearly there will be LL that are prepared or need to sacrifice a large proportion of rental income as they have no real alternative.
    Whether it is then worth even bothering to be a LL is another question!

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    Know the feeling Paul!!!

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    Too costly for the risk, better to self manage for the size of the risk.
    With everyone wanting a slice, agents,regulation, taxman, poor tenants nothing left for the major risk player, the landlord with massive investment...

    Paul Barrett

    As you suggest being a remote or disengaged LL is a serious detriment to one's wealth!!
    The bottom feeder LA will always be there to service the apathetic LL market.
    There is simply no way I would ever have bothered being a LL if I was unable to self-manage.
    To maximise income I need to continually drive down costs.
    Not using LA for over 8 years has saved me tens of thousands of pounds.
    I source my own tenants mostly by word of mouth or other free resources.
    S24 obviously concentrates the mind as well as all the other costs that are being added to the LL burden.
    LL have little alternative than to drive down their costs.
    LA will be the first victims of these LL increased costs.
    LL will have to give up using a LA.
    LL would do well to review their circumstances with a view to selling up and deleveraging and investing nearer where they live to facilitate self-managing.
    LL no longer have the luxury of utilising others to manage their investment properties.
    Even investment property types like flats will increasingly be sold up due to onerous Ground Rent and Service Charges which only ever seem to increase.
    This is why I am selling my flats.
    The SC are simply uneconomic.
    I am concentrating on driving down costs to the extent that I might end up with one very lightly leveraged HOUSE.

     
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    what fee does northwood charge?

    Paul Barrett

    Not sure but I reckon after June 1st when the tenant fee ban comes into force they will have a more expensive tariff structure along with many other LA I shouldn't wonder.
    It would be worth waiting to see how LA structure their business offer once the tenant fee ban commences.
    I predict a LA bloodbath with many LA going to the wall
    Many will have let the business idle based on tenant fee income and deposit retentions for free overdraft facilities.
    Well I reckon many LL will want to hold the deposits themselves in their own bank accounts.
    Without tenant fee income many LA will struggle to survive.
    A LA of long aquaintance advised me that he predicted the tenant fee ban would cost him over £30000 in lost income.
    No way did he expect to make up for that loss by increasing LL management fees especially as many of his LL clients are selling up courtesy of S24!!!
    Plus he will now face the costs of sourcing tenants which would be impossible to do effectively at a cheap cost.
    Of course he could just send the aspirant tenants away advising them to return ONLY once they had purchased their own Tenant Referencing Passport at a one off cost of about £40.
    This can then be used by the tenant with any number of LL and LA.
    But whatever happens he and many other LA are in for some very tough times and many will go out of business or amalgamate as the only way to survive.
    There will be many LA redundancies coming soon!!

     
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