29 April 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 31 March 2024 ("Q1" or the
"Quarter").
Highlights
·
Strong
growth
For Q1 2024, revenue is up 62% year-on-year
("YoY") compared with the same quarter last year, and the number of
tenant contracts is up 38% YoY, demonstrating an increasing demand
for the RentGuarantor service. The average revenue per tenant
contract also rose by 5% YoY, from £697.87 to £741.82.
·
Signing of key strategic
contract
RentGuarantor signed a strategic contract with
University Living for the use of the RentGuarantor service.
University Living is a student accommodation provider, and supplier
of technology-driven products and services designed to make the
student lettings journey quicker and easier for all parties across
the rental value chain.
·
Signing of partnership
agreements
In Q1, the Company signed partnership
agreements with a total of 29 industry bodies, including letting
agents, councils, and student accommodation providers.
·
Upgrading of technology
system
During the Quarter, RentGuarantor implemented
an internal technology system upgrade from HubSpot. The improved
system will enhance the internal efficiency of the Company's data
processing teams.
·
Attendance at industry
conferences
RentGuarantor attended eight industry
conferences during the Quarter, hosted by its partners Propertymark
and the NRLA, where the team spoke with industry leaders and
increased visibility for the RentGuarantor service.
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 2023 at the start of this
year, with revenue up a significant 62% compared to the same period
last year. These strong statistics are a clear indication of the
high demand for our services, which reflects the faith that
landlords and tenants are showing in RentGuarantor. We have been
further supported by the signing of 29 partnership agreements,
including a strategic partnership with University Living, with whom
we share the collective goal of helping students find suitable and
secure accommodation. I look forward to providing shareholders with
another positive update next quarter."
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
Maya Klein
Wassink
+44 20 3772 0021
Zeus (Joint
Broker)
Simon Johnson (Corporate Broking)
James Hornigold (Investment Banking)
+44 203 829 5000
Oberon Capital
(Joint Broker)
Mike Seabrook
Nick Lovering
+44 (0) 203 179 5300
BlytheRay
(Financial PR)
Tim Blythe
Megan Ray
+44 207 138 3204
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.
