RentGuarantor Holdings PLC Partnership with Canopy (6072C)
14 6월 2023 - 3:00PM
UK Regulatory
TIDMRGG
RNS Number : 6072C
RentGuarantor Holdings PLC
14 June 2023
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14 June 2023
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
Partnership with Canopy
RentGuarantor (AQSE: RGG) , a provider of rent guarantee
services to prospective tenants across the socio-economic spectrum
wishing to rent property in the UK private rental sector, announces
that it has entered into an agreement with InsureStreet Limited
("Canopy") for the use of the RentGuarantor service.
Canopy provides access to tools, services, and products for
renters, letting agents, and landlords, ensuring that all parties
across the rental value chain can secure prosperous and robust
tenancies. Canopy is a market leading referencing provider,
completing 120,000 references per year whereby 12% of these
references require a guarantor.
Under this initial three-year partnership, RentGuarantor will
provide a company guarantor option to Canopy's tenants.
Paul Foy, CEO of RentGuarantor, commented: "We are delighted to
announce this partnership with Canopy. Canopy's drive to provide
access to services that benefit all areas of the rental value chain
aligns closely with our own values, and we look forward to
providing their tenants and landlords with the option of securing a
guarantor.
"According to Arlington Research, 38% of tenants would choose to
pay for a rent guarantee service rather than relying on family, and
this latest partnership with Canopy demonstrates the growing demand
for our product."
Chris Hutchinson, CEO of Canopy, commented: "We are always
looking to expand and improve our offering to both tenants and
landlords, and are excited to launch a partnership with
RentGuarantor. This will enable us to provide even more tenants
with access to property and more landlords certainty of rent
payments at no cost, enhancing our already excellent offering to
the private rental sector."
For more information, please visit: www.rentguarantor.com
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
BlytheRay (Financial PR)
Tim Blythe, Megan Ray
+44 207 138 3204
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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END
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