RentGuarantor Holdings (AIM:RGG) has signed a two-year partnership agreement with King's College London (KCL) to act as the University's professional guarantor partner, giving the institution's student body, including roughly 20,000 overseas students, access to the Company's guarantor service when seeking private rented accommodation.
KCL is ranked fourth in the UK by total enrolment, and the deal is aimed squarely at students relocating to central London, where average rents near its campuses run between roughly £2,000 and £2,500 a month, according to Rightmove.
RentGuarantor, which provides rent guarantee and property protection services to tenants and landlords across the UK private rental sector excluding Northern Ireland, said overseas students represent a significant opportunity because they often lack a UK resident able to act as guarantor and so turn to professional alternatives.
It said the Renters' Rights Act has sharpened that dynamic further by banning rent-in-advance payments as a way of securing a tenancy, pushing more prospective tenants toward guarantor services.
The agreement extends RentGuarantor's push into institutional partnerships, adding to its existing network of landlords, letting agents and industry operators.
"For RentGuarantor, this agreement provides access to a substantial potential addressable student population, the fourth largest in the UK, and therefore a significant pool of prospective tenants who may require a professional guarantor," said chief executive Paul Foy, adding that the timing is favourable given Master's students typically enrol between November and February.
The announcement follows a period of sharp growth at the company: revenue for the eight months to 31 August reached approximately £8.45m, up 472% year-on-year, with the Board targeting full-year revenue in excess of £14m and continuing to expand its AI, automation and hiring investment to support scaling volumes.