Tenant Shop and Legal & General tie-up

Tenant Shop, the tenant concierge service, is creating a single insurer relationship with Legal & General to offer protection products to the private rental sector. Tenant Shop will offer renters the following portfolio of L&G products; Life Insurance, Critical Illness Cover, Income Protection and the newly launched Rental Protection Plan, that has been designed specifically for tenants. This offers Letting agents the ability to increase their revenue without being FCA regulated as Tenant Shop itself is a regulated company.

Tenant Shop recently expanded its in-house product offering with the launch of its own credit referencing service.

Rental banking technology platform raises £1m

Hammock has raised £1million in seed investment from Fuel Ventures and Ascension Ventures to further develop its technology platform, and in the coming weeks will release its FCA-regulated current account, the first property-driven online financial account of its kind which has been specifically designed for landlords and property managers.

Hammock currently plugs into landlord’s bank accounts, via open banking, and automatically monitors rent collection, tracks payments and expenses and delivers live analytical reporting on the wellbeing of each rental house or flat. By providing instant tracking of balance sheets for each property Hammock says it is able to save landlords significant time, while the realtime insights reduce uncertainty and inefficiencies.

Hammock has more than 1,700 properties managed on the platform and is already tracking in excess of £7 million in rent.