The Property Franchise Group, which has 15 agency brands and manages 150,000 properties, has agreed a deal with the PIB-Barbon referencing and insurance services Let Alliance and HomeLet.
This gives a rent guarantee across all 150,000 properties – a first across the lettings industry – ahead of the Renters Rights Bill which is likely to become law this summer.
TPFG chief executive Gareth Samples says: “We manage more properties than any other group in the United Kingdom, through 900 franchised territories. It is my role to negotiate deals that understand our scale, and benefit each of our franchisees by giving the best products and services in the market, along with the best financial arrangements.
“We searched the market, and the combined power of PIB and Barbon delivered exactly what we asked for.
“The new renter’s rights legislation, along with the most recent governments budget, present unprecedented challenges to my franchisees, we needed to respond and get our businesses ahead of the curve. Our new and exclusive partnership with Let Alliance and HomeLet will deliver organic growth and improve the profitability of each of our franchised businesses. Every one of our landlord customers will be huge beneficiaries”
PIB-Barbon’s services include tenancy management, tenant referencing, rent guarantee and legal protection, tenant and landlord insurances, and utility provision and management.
Andy Halstead, chief executive at Let Alliance and HomeLet comments: “Gareth and The Property Franchise Group executive team set us a challenge, to develop a proposition that they could confidently recommend to their franchisees, on an exclusive and long-term basis.
“We responded, using the resources across our business and PIB, and were able to deliver a rent guarantee programme, the scale of which has not been seen in the UK until now. TPFG have 15 brands and manage significantly more properties than any other group in the private rental sector. We have committed our significant resources and leading tech platform to this partnership, and we will evolve over time, as the market changes, we will respond and support TPFG every step of the way”
