Rent protection is incredibly important for landlords, renters, and guarantors. Only My Share is on a mission to remove the risk for everybody with one simple service. Our rent protection guarantee is easy to use, cost-effective, and offers renters in shared accommodation and their guarantor’s security and reassurance, alongside our bespoke
services for landlords who are looking to guarantee the rent and get help with rent recovery when other outlets fail. Only My Share is proud to already be working with some incredible partners, find out below how our service can benefit letting agents.
The problem Only My Share is here to solve.
So, why is rent protection so important? When tenants are living in shared accommodation, they sign a joint and several liability agreements. This means that they are not only liable for their own rent but also for the rent of their entire house should the other housemates not be able to pay their share. This in turn also means that their guarantors are liable too. Tenants could end up owing rent that isn’t theirs technically but is legally due to contractual obligations.
In the case that a tenant defaults on rent, the process of chasing payments and recovering them from tenants or guarantors is hard work, time-consuming, and often leaves landlords out of pocket. That’s where we come in to help. Only My Share’s block management product has been created with these issues in mind. Our service allows landlords to cover tenants that are up-to-date with their rental payments and fees across a single property or whole estate (depending on requirements). This means that both parties are offered full protection, provided with peace of mind, and that the rental process runs smoothly.
The benefits of Only My Share for Letting Agents.
Only My Share has a bespoke and incredibly beneficial service for letting agents. Our product keeps letting agents one step ahead in a competitive market by helping tenants rent with confidence and landlords guarantee their rent.
Our flexible model means that letting agents can offer great value, and get contracts signed quickly. Landlords are satisfied as they are fully protected against rent loss, and tenants are happy knowing that they aren’t liable if a housemate falls into rent arrears. In effect, letting agents recommending our service to landlords and tenants also improve their offerings as agents by helping landlords reduce their liabilities, covering tenants and guarantors affordably, and offering new products.
What’s included for letting agents?
Rent loss protection – It’s simple, but Only My Share guarantees that landlords don’t miss out if tenants can’t pay.
A simple procedure – Claiming on a rent guarantee is easy, there’s one simple form and then we’ll be in touch and the rest is left for us to cover.
Letting agents can offer a better service – Offering protection means a competitive advantage – client relationships and services are improved by providing our product.
You can count on us – With all problem cases, we are here to help with both rent recovery and rent guarantee.
One size doesn’t fit all approach – We’re aware that landlords have different tenancy agreements with their tenants. We tailor this to make sure that the plan is suitable for their tenancy arrangements.
There are no limits – Whether it’s a three-bed house in Bournemouth or a seven-bed house in London, our rent protection guarantee covers everyone.
Make a commission – By reselling our products to landlords, letting agents can improve services, and earn a commission.
How it works for letting agents.
Letting agents act as an introducer of our services to their landlords, using focused marketing material which is provided. This means that letting agents can up-sale their offering, improve client relationships and get contracts signed quicker. By offering policies to landlords, letting agents earn a commission, making our scheme a win, win for
everyone.
Only My Share has tailored plans for letting agents, it’s very quick and easy to get involved and start offering our services. We put together a bespoke plan for each agency, including a commission structure and anything else that is required. Letting agents then recommend our services to tenants and landlords, it’s really as easy as that.
To find out more about how Only My Share can help letting agents, please drop us an email at info@onlymyshare.com and one of our team members will be in touch as soon as possible.