RentGuarantor Hldgs - Industry Supplier Agreement
RNS Number : 6845L
RentGuarantor Holdings PLC
17 May 2022
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATESAUSTRALIACANADAJAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

17 May 2022

RentGuarantor Holdings PLC

 

 (the "Company" or "RentGuarantor")

 

 Industry Supplier Agreement ("Agreement")

 

RentGuarantor is pleased to announce that RentGuarantor Limited has been granted the status and title of Industry Supplier by Propertymark Ltd ("Propertymark"). The Agreement will automatically renew every year. Under the Agreement, RentGuarantor Limited has a non-exclusive licence to use the Propertymark trademark in the United Kingdom.

Propertymark is a leading membership body for the property letting and sales sector with close to 18,000 members. Propertymark's members include ARLA Propertymark and ARLA Inventories (Association of Residential Letting Agents), NAVA Propertymark (National Association of  Valuers  and Auctioneers), NAEA Propertymark and NAEA Commercial (National Association of Estate Agents). Propertymark is known in the sector for setting professional standards through regulation, offering accredited and recognised qualifications, an industry-leading training programme and mandatory Continuing Professional Development. Under the Agreement, Propertymark agrees to promote RentGuarantor's rent guarantees for Tenants through marketing activities including, articles in digital newsletter, advertisements in property magazines and exhibition stands at conferences.

 

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

 

 

 

Paul Foy, CEO of RentGuarantor, says: "We look forward to working with Propertymark. This strategic partnership offers a fantastic solution for both agents and Landlords in securing a Tenant's rent being fully paid during the life of the tenancy".

 

Commenting for Propertymark, Jason Lee, Commercial Manager: "We're pleased to partner with RentGuarantor under our Industry Supplier Agreement. We believe that this service will be invaluable to our agents and in turn will secure rental income for Landlords during the life of the tenancy".

 

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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