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RentGuarantor Holdings PLC on Monday said it has signed a deal for Let Insurance Services Ltd, which trades at The Lettings Hub, to use its RentGuarantor service.
The London-based rent guarantee service provider said the three-year deal will see RentGuarantor provide a company guarantor option to The Lettings Hub’s tenants.
The company noted that The Letting Hub is a ‘market-leading reference provider’, completing 180,000 references per year. RentGuarantor added that 12% of these references require a guarantor.
RentGuarantor Chief Executive Paul Foy said: ‘We are very pleased to announce this partnership with The Lettings Hub, marking the fifth strategic contract we have signed in 2023. The Lettings Hub’s emphasis on providing technology-driven solutions to serve the breadth of the rental value chain is well-aligned to our own values, and we look forward to integrating our product with their service and offering applicants 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. This latest partnership with The Lettings Hub clearly demonstrates the growing demand for our product.’
RentGuarantor shares were flat at 274.00 pence per share on Monday morning in London.
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