Tenancy referencing and insurance firm Let Alliance is launching a new rental guarantee product called Portfolio Transfer after a successful pilot among agents.
It allows agents to transfer their whole managed property portfolios and protect their entire existing book of business with rent guarantees, allowing agents to provide their landlords with guaranteed rental income – thereby generating extra incremental revenue for the agent.
Agents’ earnings from referencing and rent guarantee products purchased can be significant, says the firm.
Let Alliance founder Andy Halstead said: “For the first time ever, letting agents are able to transfer their whole portfolio to ‘nil’ excess rent guarantee and full legal expenses, no matter when the tenant moved in to the property and no matter which company completed the reference, even if the agent completed references in-house.
“I believe that this will change the way that letting agents see rent guarantee.
“There is no need for agents to become involved with the financial services regulator, the Financial Conduct Authority. Letting agents are our customers; Let Alliance does not sell rent guarantee to landlords and does not allow letting agents to sell rent guarantee to landlords.
“The insured is the letting agent, and should any claim arise, the letting agent makes the claim. Let Alliance puts the agent in control and helps agents generate incremental profits through the services that they offer to their landlord customers.”
Separately, Let Alliance has been announced as an official ESTAS Partner for 2014.
The 11th annual ESTAS ceremony will take place on May 9, 2014, although agents are already registering to take part.
Comments
It's really no different from what LetsXL Ltd have been doing for some considerable time now and they have 10 plus years experience of the Lettings Market.