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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