60 Second Interview: Rent on Time

Saturday 20th August 2011

Q: Who are Rent on Time?

A: We are a Letting Agent & Rent Collection company with a difference.  We guarantee Landlords rent, on time… every time. We are registered members of the National Approved Lettings Scheme (NALS) as well as being a recognised “SAFEagent” due to our commitment of protecting client money via NALS Client Money Protection Insurance and our membership of the TDS.

Q: How long has Rent on Time been trading?

A: Since March 2008

Q: How did it all start?

A: We recognised so many landlords do not have suitable cover to guarantee loss of rent. We understood that the market was lacking innovation and feedback from landlords was that they wanted their rent guaranteed and paid up front without having to jump through hoops or pay large excess payments.

Q: What is the product you are offering?

A: Rent collection with the ultimate guarantee that the landlord will be paid their rent on the day its due even if the tenant fails to pay us.  The landlord does not need to wait for their money, they don’t even need to make a claim or pay any excess.  We provide free legal cover to deal with the eviction process to gain vacant possession.

We also provide landlords with our “Find a Tenant” service, promoting their properties across all the major website portals such as Zoopla, Rightmove, FindaProperty, etc.

Q: Why choose Rent on Time?

A: Simplicity, transparency, value for money, our personal service and of course our innovative guarantee.

Q: What are your three unique selling points?

A:

1. Our guaranteed rent (without having to claim, pay excess or wait for your money) provides landlords with worry free cash flow income.
2. We pay the rent until Vacant Possession is attained… even if the AST has come to an end we will continue to pay rent if the tenant is in arrears and we are continuing with our eviction process.
3. Free Legal cover.  Again we remove this worry and hassle from the Landlord.

Q: Who do you currently work with?

A: Landlords come to us from various routes.  We are available to landlords across England, Scotland, Northern Ireland & Wales and they find us via the internet, via their Financial & Mortgage Advisers and we even have other Letting Agent firms who partner with us and offer Rent on Time to their clients by building the service into their own proposition.

Q: What makes you stand out from the crowd?

A: I believe what we have is extremely innovative and great value for money.  A lot of landlords think there is a catch but there really isn’t. We are transparent, we adhere to all the standards expected from a quality product service provider and our personal Account Managers will look after landlords from start to finish.

Q: What are your strengths?

A: Our high service standard is paramount to all our staff.  Integrity is also a huge value of ours… saying what we mean and doing what we say.  We simply want to take the worry away from the rental market and provide landlords with complete peace of mind.

Q: How do you create value for your clients?

A: By providing our clients with cash flow guarantee.  The security provided with guaranteed rent on the day it is expected is extremely important to most landlords, especially if the mortgage is dependent on the rent.  Not only this, our legal cover removes cost and worry from any potential eviction scenarios.  Plus our ‘Find a Tenant’ service is available to landlords for just £60.00+VATif they mention ‘Landlord Today’!

Q: How do you overcome your competitors?

A: By offering our innovative proposition across the entire UK. We have landlords with one property to landlords with large property portfolios and both types of landlords can have complete peace of mind with Rent on Time.

Q: What is your greatest achievement and what made it so special?

A: Creating various distribution routes i.e. to landlords directly, via Letting Agent partners and Financial Advisers.  Plus by making our services available across the UK (not just England) is a major benefit to our clients. 

Q: What do you feel it takes to be successful in the industry?

A: Commitment to your clients & staff.  Making sure our company values hold firm… these being Innovation, Integrity, Respect, Conscientious, Flexibility and Teamwork.

Q: Have you been surprised by the rapid growth of the business?

A: Not surprised but excited.  We have such committed staff who want the best for our clients.  We understand the requirements of landlords and we provide them with the solution.

Q: Are you currently offering any special promotions?

A: Yes, a couple of discounts for landlords who contact us and quote that they have read about us via ‘Landlord Today’!

• We are discounting our ‘Rent on Time’ New Tenancy Admin feedown from £100+VATto £60+VATfor any properties placed onto the Rent on Time service before the end of 2011.  Our monthly fee is 6%+VAT
   
• We are discounting our ‘Find a Tenant’ feeby 20% (normally £75+VATbut now £60+VAT) for all properties listed for advertising before the end of 2011.