The professional guarantor service for agents and tenants
Historically, the role of guarantor was fulfilled by a close relative or friend, but increasingly, purpose-built services are stepping in to provide this crucial function.
For letting agents, the presence of a reliable guarantor is key to maintaining smooth operations. Whether the clients are students, professionals on new lets, or existing tenants needing a change, RentGuarantor simplifies the process for approved tenants.
This service not only reduces the burden on the agency team, but also ensures that landlords receive timely rental payments, safeguarding management fees and maintaining landlord satisfaction.
Streamlining the tenant approval process
The rental market needs swift decision-making, and with applications typically processed within four hours and same-day decisions for applications submitted before 3pm, RentGuarantor accelerates the tenant approval process.
This speed is invaluable in reducing vacancy periods and ensuring that properties are occupied promptly, keeping landlords happy and agency operations running smoothly.
A larger tenant pool
By offering RentGuarantor’s services, letting agents can significantly expand their pool of potential tenants. Students, professionals, and those with non-traditional financial backgrounds often struggle to meet the usual guarantor criteria. RentGuarantor removes this obstacle, allowing you to accept a wider range of tenants without compromising on financial security. This not only increases an agency's appeal but also ensures that properties are filled more quickly, maintaining a steady income stream for the agent and the landlord.
Revenue opportunities and cost efficiency
RentGuarantor’s service is free of charge for landlords and letting agents, offering a cost-effective solution to a common problem. Furthermore, as affiliate partners, agencies are eligible for a revenue share on each successful application, adding an additional income stream to their business. This revenue opportunity, coupled with the support of a dedicated arrears team, makes RentGuarantor an attractive proposition for forward-thinking letting agencies.
Ensuring compliance and peace of mind
RentGuarantor provides rent mediation services, stepping in to work with tenants and ensure rent is brought up to date if payments fall behind.
In cases where tenants default during the first 36 months of the tenancy, RentGuarantor covers the rent for up to 12 months, with a maximum limit of £120,000. Extending this protection beyond the initial period if required is possible. However, it is reasonable in our view (and contract) that if a tenant has paid their rent for 3 years, that they should not have to continue to pay for a professional guarantor or put their friends or relatives under ongoing commitment.
This service can reinforce an agent’s reputation as a reliable and proactive partner in property management.
Join Our Network
To date, RentGuarantor has worked with over 1,000 letting agents across the UK, enhancing their letting processes and ensuring tenant satisfaction. By integrating RentGuarantor into a service offering, agencies can improve their efficiency, expand their tenant base, and increase revenue—all without any obligation to commit to a specific number of applications.
To register interest and learn more about RentGuarantor, visit rentguarantor.com or call 0208 161 0141.
Rent Guarantor
RentGuarantor.com are the UK’s only London-listed rent guarantor provider. We do exactly as they name suggests: the company acts as the rent guarantor for tenants in exchange for a fee.
