(Alliance News) - RentGuarantor Holdings PLC on Monday said it agreed with Clever Student Lets Ltd to provide its software for use on the Clever Student's letting platform.
RentGuarantor is a London-based provider of rent guarantee services in the UK private rental sector. A rent guarantor is a person or company that agrees to pay if the person renting a property does not.
RentGuarantor said Clever Student will be promoting RentGuarantor to all students with the intention of generating secure tenants for Clever Student Lets' landlords.
Clever Student Lets provides student accommodation to students at the University of Plymouth, with over 2,500 properties listed on its website.
"I'm pleased to announce the agreement with Clever Student Lets and look forward to becoming their preferred rent guarantee supplier," said RentGuarantor Chief Executive Officer Paul Foy.
"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."
Over 70% of landlords require students to have a UK resident guarantor when they rent student accommodation, according to RentGuarantor, with around 21% of the student populations being international students and often having no access to a UK guarantor.
Shares in RentGuarantor were quoted at 185.00 pence each on AQSE in London on Monday after midday, having last traded at 200p each on October 3.
By Greg Rosenvinge, Alliance News reporter
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