Press releases

Advanced Rent partners with Let MC and Gnomen

Advanced Rent is pleased to announce that it has partnered with Let MC and Gnomen to provide a fully integrated tenant referencing service to their customers. Advanced Rent’s industry-leading referencing platform provides a full reference for a fair price with checks that include:

  • 6 year credit history check
  • Address verification and linked address summary
  • Employment and income verification
  • Previous landlord reference and verification
  • Credit score
  • Affordability analysis
  • Guarantor validation and suitability check
  • Right to Rent regulations complied with

Letting agents receive their own portal login to see real time updates and progress of each application submitted. Results accepted and approved by DAS, Europe’s leading Rent Guarantee and Legal Expenses insurance provider.

Advanced Rent launches tenant referencing platform

Advanced Rent is proud to announce the launch of its new tenant referencing platform. The Advanced Tenant Referencing platform has been providing a high quality referencing service to Landlords and Letting Agents for a number of years but now has the capability to integrate via API. This means that the whole process runs seamlessly from start to finish with the automatic transfer of tenant and property data from a customer’s existing software provider. Letting agents receive their own portal login to see real-time updates and the progress of each application submitted. The results are accepted and approved by DAS, Europe’s leading Rent Guarantee and Legal Expenses insurance provider.

We provide our Tenant Referencing and Landlord Insurance products nationwide to our Letting Agent partners. Our industry-leading online product distribution platform is an invaluable and powerful tool to help you grow your business.

Advanced Rent launches new product

Following six months in development Advanced Rent has launched another unique and innovative product into the UK residential landlord sector; Deposit Replacement Insurance.

Deposit Replacement Insurance allows landlords to avoid the admin and hassle of accepting tenant deposits whilst still benefitting from the reassurance a deposit provides. With more and more legislation which landlords have to adhere to for holding tenants’ deposits, and the increasing cost burden on tenants to provide a large deposit, there is now an alternative to cash deposits.

The Court of Appeal decision in the case of Superstrike undoubtedly caused some confusion about the legal position on some aspects of deposit protection and the ability for a landlord to issue a section 21 notice to regain possession of his property. In a dispute, if the court decides that you have not protected the deposit correctly or even issued the prescribed information to the tenant within a certain period, a landlord can be forced to pay the tenant up to 3 times the deposit amount in compensation. Considering that these disputes arise after an incident of damage to property or non-payment of rent, the landlord can be left considerably out of pocket.

The cost to the tenant is equivalent to around one week’s rent. The benefits to the landlord include damage (dilapidations) cover and unpaid rent for the equivalent of up to 6 weeks’ rental value.

Deposit Replacement Insurance is only available through Advanced Rent and is underwritten by one of Europe’s largest insurers.

Advanced Rent launches new product

Advanced Rent has launched a new product; Rent Guaranteed. Rent Guaranteed pays landlords their rent on time regardless of whether the tenant has paid. It is far superior to conventional rent insurance as Advanced Rent takes the risk and hassle of recovering rent either from a tenant or an insurance policy. For the landlord there is no excess, no hidden charges, in fact - no claim. Advanced Rent continues to pay the rent for two months after vacant possession is achieved or until a suitable tenant is found, if earlier.

In addition to providing landlords with financial security and removing much of the administrative burden of being a landlord, Rent Guaranteed provides landlords with home emergency insurance as well as legal expenses cover.

Steve Simons, director of Advanced Rent, commented: “Rent Guaranteed allows landlords to plan their finances for the term of the tenancy agreement. We are finding that it’s a great solution for landlords with regular bills to pay – they have certainty over their outgoings but not their income, until now.”

As a result of feedback from its customers, Advanced Rent is introducing a range of value added services for landlords and plans to introduce these in the coming months.

Advanced Rent partners with Belvoir

Advanced Rent has partnered with Belvoir & Co, one of the UK’s largest specialist lettings franchises. Belvoir have agreed to promote Rent in Advance to all of their landlords across an initial pilot of 5 selected franchise offices.

Belvoir is already one of the UK’s largest lettings franchises in the UK and, with an ambitious acquisition programme underway is set to expand further. Specialising in lettings with no association to estate agency, Belvoir’s staff are trained to provide a high quality service to both landlords and tenants.

Rent In Advance is a new product from Advanced Rent, which gives landlords six months’ rent upfront, every six months. This innovative idea enables landlords to guarantee their cash flow and access a lump sum that would otherwise only be available to them in instalments over the next six months.

Tim Cooley from Advanced Rent commented, “Belvoir has an excellent reputation amongst landlords and is already a well recognised high street brand. We’re thrilled that Belvoir sees the potential of Rent In Advance and we are looking forward to working together.”

Advanced Rent shortlisted for Landlord & Lettings Awards

Advanced Rent has been shortlisted as a finalist for 2012/13 in the Innovation category of the prestigious Landlord & Letting Awards.

Oliver Romain, editor of Landlord & Buy-to-Let magazine and lead judge for the Awards, commented: “The Landlord & Letting Awards are the premier nationwide private rented sector awards in the UK, and it’s great to be able to recognise and reward the best in the industry. The Awards receive industry-wide support and it is encouraging to see so many companies and individuals wanting to take part. This year’s response was phenomenal, with more entries than ever received across the various categories, so Advanced Rent has done brilliantly to be shortlisted.”

Steve Simons, director of Advanced Rent said, “We are thrilled to have Rent In Advance recognised in the Innovation category at the Landlord & Letting Awards. Rent In Advance is truly innovative – there is currently nothing else like it on the market.”

The winners for each category will be announced at a gala dinner in Coventry during the Landlord and Letting Show on Wednesday 28th November, 2012.