Only My Share reveals new bloc management service

Rent arrears protection service Only My Share has revealed a new business to business bloc management service, designed to help protect landlords and tenants from the harm caused by rent arrears. With the UK unemployment rate at a three-year high of 4.5% in the three months prior to August 2020, the timely launch should help to bolster confidence within the private rental sector even as the impact of the pandemic deepens.

Part of the Housing Hand family, Only My Share offers rent arrears protection to individual tenants. That means that tenants who rent rooms rather than whole flats or houses, along with their guarantors, are protected from being financially liable if a housemate doesn’t pay their rent under a joint and several clause.

Terry Mason, Group Operations Director, Only My Share said “Demand for rent arrears protection for tenants renting out individual rooms is rocketing. Users of our service shot up by 24% between March and September. That increase has been a driving factor behind the timely launch of our new bloc management service.”