RentGuarantor Holdings PLC Licence to use RentGuarantor Software (4762N)

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RNS Number : 4762N

RentGuarantor Holdings PLC

23 January 2023

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.

23 January 2023

RentGuarantor Holdings PLC

(the "Company" or "RentGuarantor")

Licence to Use the RentGuarantor Software

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 Clever Student Lets Ltd ("Clever Student Lets") for the use of the RentGuarantor software on Clever Student Lets' student letting platform. Clever Student Lets will be promoting RentGuarantor to all students with the intention of generating secure tenants for Clever Student Lets' landlords.

Clever Student Lets provide student accommodation to University of Plymouth students, and currently have over 2500 properties listed on their website.

Over 70% of landlords require students to have a UK resident guarantor when they rent student accommodation. In the UK, approximately 20.7% of the student population are overseas students and, very often, overseas students, have no access to a UK guarantor.

Paul Foy, CEO of RentGuarantor, commented: "I'm pleased to announce the agreement with Clever Student Lets and look forward to becoming their preferred rent guarantee supplier. RentGuarantor expects to assist Clever Student Lets by guaranteeing the rents of their student tenants in the Plymouth area for the upcoming 2023/24 academic year and beyond".

The directors of RentGuarantor accept responsibility for this announcement.

Ends

For further information please contact:

RentGuarantor Holdings PLC

Paul Foy, Chief Executive Officer

[phone]

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Nick Michaels

[phone]

Optiva Securities Limited (Broker)

Vishal Balasingham

[phone]

BlytheRay (Financial PR)

Tim Blythe, Megan Ray

[phone]

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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January 23, 2023 02:00 ET (07:00 GMT)