RentGuarantor Holdings PLC Quarterly Activities Update

RNS Number : 7110G

RentGuarantor Holdings PLC

03 October 2024

 

 

3 October 2024

 

RentGuarantor Holdings PLC

 

(the "Company" or "RentGuarantor")

 

Quarterly Activities Update

 

 

RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socioeconomic spectrum wishing to rent property in the UK private rental sector, is pleased to provide a quarterly activities update for the three-month period ended 30 September 2024 ("Q3" or the "Quarter").

 

 

Highlights

 

·    Strong growth

For Q3 2024, revenue is up 62% year-on-year ("YoY") compared with the same quarter last year, and the number of tenant contracts is up 47% YoY, demonstrating an increased demand for the RentGuarantor service. The average revenue per tenant contract also rose by 8% YoY, from £606.23 to £656.94.

 

·    Signing of partnership agreements

In Q3, the Company signed partnership agreements with a total of 57 introducers, including letting agents, councils, student accommodation providers, landlords and charities.

 

·    Investor Hub

During Q3, RentGuarantor fully transferred its shareholder communications onto its Investor Hub, which brings all company content into a single integrated platform and provides a place for interaction with shareholders.

 

Sign up here

 

·    Investor Evening

During the Quarter, RentGuarantor CEO, Paul Foy, participated in "The Pub Test" Investor Evening in London. The event provided an opportunity for investors to meet and interact directly with Paul, ask questions, and network with fellow investors.

 

·    Attendance at industry conferences

RentGuarantor attended six industry conferences during the Quarter, where the team spoke with industry leaders giving increased visibility to the RentGuarantor service.

 

·    Annual General Meeting

During the Quarter, the Company's AGM was held, and all resolutions put to shareholders were duly passed.

 

 

Paul Foy, CEO of RentGuarantor, said: "Following further success this quarter, I am delighted to provide an update to shareholders. I'm pleased to have maintained the strong growth achieved in H1 2024, with revenue up a significant 62% compared to the same period last year, and the number of tenant contracts also up 47% YoY. These strong statistics are a clear indication of the high demand for our services, which reflects the faith that landlords and tenants are putting in RentGuarantor. Crucially, we continue to attract a wide range of partners from across the sector, from letting agents to charities, and we look forward to developing these close working relationships to fully integrate RentGuarantor into their respective portfolios and programmes.

 

"As we look ahead to Q4, I anticipate a successful close to another hugely positive year of growth for RentGuarantor."

 

 

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

Maya Klein Wassink                                                                                                               

[phone]

 

Zeus (Joint Broker)

Simon Johnson (Corporate Broking)

James Hornigold (Investment Banking)

[phone]

 

Oberon Capital (Joint Broker)

Mike Seabrook

Nick Lovering

[phone]

 

BlytheRay (Financial PR)

Megan Ray

Will Jones

[phone]

 

About RentGuarantor

RentGuarantor provides a rent guarantee service to tenants wishing to rent property in the UK from the Private Rental Sector ("PRS"). It is an online service where applications are managed on a secure and bespoke digital platform designed and built by the Company. The goal is to make the process as simple as possible, with applications only taking a few minutes and RentGuarantor completing the application on the same day.

RentGuarantor supplies its service to the whole of the market - students, both from the UK and overseas, employed people and people on benefits including Universal Credit, ensuring that everyone has the opportunity to live in their dream rental home.

 

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END

 

 

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