Property management platform Concurrent from Sturents has partnered with guarantor waiver service Leap to offer landlords protection against financial risks associated with the Renters\u2019 Rights Bill.<\/p>\n
Leap\u2019s service removes the need for tenants to nominate a guarantor when completing their booking, as Leap\u2019s costs are incorporated into the monthly rental installments charged by landlords.<\/p>\n
As a result landlords can market \u2018no guarantor required\u2019 tenancies, and retain the benefits that a guarantor would traditionally offer.<\/p>\n
Concurrent said the solution addresses the ban on upfront rental payments and extended eviction thresholds.<\/p>\n
Tom Walker, StuRents and Concurrent\u2019s co-founder, said: \u201cThis newly integrated service is a game-changer for student housing providers facing the biggest change to tenancy laws in generations.<\/p>\n
\u201cFor many landlords facing the prospect of exiting the student market due to heightened financial risks stemming from the forthcoming Renters\u2019 Rights Bill, this partnership offers a viable path to continue operating in a sector that contributes significantly to local economies in university towns nationwide.\u201d<\/p>\n<\/p>\n
Aside from the Renters\u2019 Rights Bill, many international students will benefit from Leap\u2019s service, even those staying in Purpose Built Student Accommodation, which is exempt from the Bill.<\/p>\n
StuRents\u2019 data shows that 79% of Chinese students attending UK universities pay rent upfront compared to 2.6% of British students; in almost all circumstances, the upfront rent payment is required by landlords where tenants are unable to nominate a UK-based guarantor.<\/p>\n
The Concurrent-Leap integration, which works alongside existing referencing systems, removes cashflow barriers associated with upfront rent requirements for international students while providing landlords with payment security.<\/p>\n
Michael Davies, chief operating officer at Leap, said: \u201cWe\u2019re thrilled to be partnering with Concurrent. Leap is one of the USA\u2019s largest guarantor service providers.<\/p>\n
\u201cWe are now expanding our reach into the UK market by partnering with Concurrent customers, offering a smarter alternative to traditional guarantors that benefits both landlords and tenants alike.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Property management platform Concurrent from Sturents has partnered with guarantor waiver service Leap to offer landlords protection against financial risks associated with the Renters\u2019 Rights Bill. Leap\u2019s service removes the need for tenants to nominate a guarantor when completing their booking, as Leap\u2019s costs are incorporated into the monthly rental installments charged by landlords. As […]<\/p>\n","protected":false},"author":1,"featured_media":2015,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n