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| Date | 17 Feb 2023 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 2176Q |
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
17 February 2023
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
Partnership with X1 Property management Ltd
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 a three year agreement with X1 Property management Limited ("X1 Lettings"), a residential and student letting company. X1 Lettings will be promoting RentGuarantor with bespoke marketing materials to all residential tenants including students with the intention of generating secure tenants for X1 Lettings' landlords.
X1 Lettings began life in Liverpool with its first development of student apartments, X1 Borden Court. X1 Lettings is currently in its 10th year of operations and is the appointed management agency for approximately 4000 properties across the UK.
X1 Lettings' continued rapid expansion and growth has led to it being a market leader for student and residential accommodation in Liverpool, Manchester, Leeds and Chatham, Kent. X1 Lettings lets over 4000 properties. Over 70% of landlords require students to have a guarantor when they rent a property.
Paul Foy, CEO of RentGuarantor, commented: "We are pleased to announce the partnership with X1 Lettings and work begins immediately with the onboarding of tenants and the provision of rent guarantees. This partnership is another positive step forward for the Company, allowing us to further expand our revenue streams and broaden our access to the student lettings market. I look forward to announcing further partnerships in the future."
Daniel Godlewski, Senior Account Manager at X1 Lettings, commented: "Our partnership with RentGuarantor will provide our landlords and students with added security and we are eager to get started."
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
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.