Rent Protection feature launched for agents and landlords

PropTech specialist Vouch has launched a Rent Protection feature, designed to help landlords access cover to mitigate the risk of unpaid rent.

The feature was also created to make it easier for agents to unlock revenue streams. 

Rent Protection enables landlords to opt in to their agent’s rent protection services via a ‘one click’ option when approving tenancy applications.

Landlords can assess whether applications would benefit from the additional security of their agent’s cover and select their choice accordingly, without additional time or processes. 

The instant opt-in feature was developed in response to demand from agents to be able to offer landlords access to protection services via integrated features.

In 2022, analysis by Vouch and parent company Goodlord found a 17 per cent rise in the number of agents purchasing rent protection insurance, compared with 2021. 

In Goodlord’s recent State of the Lettings Industry survey - which surveyed over 600 letting agents - 26 per cent more were likely to offer a rent protection service directly due to the proposed abolition of Section 21.

Tom Goodman, managing director at Vouch, says: “This landlord opt-in feature will enable more landlords to access the benefits and security that rent protection can bring, with minimal hassle. At the same time, agents will be able to unlock new revenue streams and ensure their landlords are protected. We hope this latest Vouch feature supports our letting agents and landlords to deliver straightforward, efficient, and cost-effective rental offerings.”