RentGuarantor Holdings (RGG) has signed agreements with leading Build-to-Rent operators Way of Life and Essential Living as it expands its presence in the UK Living Sector.
The agreements follow increased engagement by RentGuarantor with institutional rental operators and continued investment in a specialist Build-to-Rent team. The company is looking to benefit from the growth of professionally managed rental accommodation by providing guarantor services that support tenant access while helping operators manage risk and streamline the lettings process.
Under a 12-month agreement, RentGuarantor will become the preferred professional guarantor provider for Way of Life, which manages more than 2,500 units across the UK.
Its service will be offered to prospective tenants who need additional support in meeting tenancy requirements, helping to widen access to Way of Life properties while providing additional protection for the operator.
RentGuarantor has also signed a two-year agreement with Essential Living, under which it will become the preferred professional guarantor solution for its tenants.
Essential Living was one of the early developers in London's Build-to-Rent market and also manages Private Rented Sector assets. Its combined portfolio comprises about 1,000 units across developments in Greenwich, Islington and Bethnal Green.
Together, the agreements give RentGuarantor preferred-provider relationships with operators managing more than 3,500 rental units and further strengthen its position in a sector it has identified as an important growth market.
RentGuarantor’s CEO Paul Foy said: “The Living Sector has emerged as a key growth market for RentGuarantor, and we’re delighted to have secured these agreements with two highly respected sector leaders. Way of Life and Essential Living firmly share our vision of a rental sector that prioritises tenant access, quality accommodation and resident satisfaction, and we look forward to working with them as their preferred professional guarantor solution.”
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The agreements broaden RentGuarantor’s exposure to the Build-to-Rent market and deepen its relationships with institutional operators. With more than 3,500 units covered across the two portfolios, they also provide a larger base through which the company can grow use of its guarantor services.