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
+44 207 193 4418
Alfred Henry
Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
Maya Klein
Wassink
+44 (0) 20 8064 4056
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)
Megan Ray
Will Jones
+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.
