RentGuarantor Hldgs - Recognised Supplier Scheme Agreement
RNS Number : 6966H
RentGuarantor Holdings PLC
08 April 2022
 

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8 April 2022

RentGuarantor Holdings PLC

 

 (the "Company" or "RentGuarantor")

 

 Recognised Supplier Scheme Agreement ("Agreement")

 

RentGuarantor is pleased to announce that it has been granted the status and title of Recognised Supplier by the National Residential Landlord Association ("NRLA") for an initial term of 12 months renewable by paying the annual scheme fees. Under the Agreement, RentGuarantor has a non-exclusive licence to use the NRLA trademarks in the United Kingdom and Northern Ireland.

The NRLA has over 95,000 registered landlords and is recognised as a place of primary importance for information and training for landlords nationally. The NRLA also actively lobbies Government on policy.

 

Being approved as part of their Recognised Supplier Scheme ("RSS") gives RentGuarantor privilege access to NRLA's registered landlord base in the UK, and the latter control approximately 500,000 properties.

 

RentGuarantor specialises in issuing rent guarantees for Tenants to protect Landlords and the Company' s risk from rent guarantees is fully underwritten by Lloyds of London.

 

We expect to develop this relationship to drive revenue by working with NRLA at local, regional & national levels.

 

Commenting for NRLA, Sam Croasdale Head of Partnerships and Innovation: "The partnership with RentGuarantor is a great opportunity for our organisation to add an additional layer of surety for the Landlord getting paid their rent in full during the course of the tenancy. We look forward to working with RentGuarantor to promote this service to our members".

 

The directors of RentGuarantor accept responsibility for this announcement.

 

**ENDS**

 

For further information please contact:

RentGuarantor Holdings PLC

Paul Foy, Chief Executive Officer                                                                                  

+44 207 193 4418 

               

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Nick Michaels                                                                                                                             

+44 20 3772 0021

          

Optiva Securities Limited (Broker)                                                                    

Vishal Balasingham                                                                                                                             

+44 203 411 1881

 

 

About RentGuarantor Holdings Plc

 

RentGuarantor provides a rent guarantee service to tenants wishing to rent property in the UK from the Private Rental Sector ("PRS"). The rent guarantee service is an online service where applications can be managed on a secure and bespoke digital platform designed and built by RentGuarantor. RentGuarantor supplies its service to the whole of market - students, employed, and people on benefits including Universal Credit. Local authorities have a legal obligation under housing and other property related Acts of Parliament to provide tenants with a home and this is mostly achieved by paying for the tenant to reside in a PRS property. Local authorities use the guarantee service as they cannot become a guarantor. RentGuarantor's risk from rent guarantees is fully underwritten by Lloyds of London.

 

The Company's strategy is to strengthen its senior and middle management team and grow revenue in accordance with its business model. RentGuarantor sees the PRS continuing to grow with affordability to buy, coupled with lifestyle choices being the key drivers over the next 3-5 years.

RentGuarantor will rollout additional services that complement RentGuarantor's proposition, which will deliver additional revenue, and cement RentGuarantor as the leading rental guarantor company in the UK.

 

 

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