Overview
Leap is one of the USA’s largest guarantor service providers to the student accommodation sector and expanded their product offering to the UK market in 2023.
If you are a customer of Leap, Concurrent allows you to present tenants with a guarantor waiver option in exchange for a higher inclusive rent price. This means, for example, that tenants without a suitable guarantor may still be able to rent with you and benefit from paying in instalments.
The guarantor waiver is for the entire contract. However, if tenants on a joint tenancy are paying different rent amounts, their portion of the waiver will be dependent on their gross monthly rent.
Requirements to use
Any Concurrent plan
Being a direct customer of Leap - Concurrent does not facilitate this.
Leap ID entered on the Contract settings page and cover percentage set - This links your Concurrent account with your own Leap account.
The tenancy contract must be 30 days or longer and the property must be in the United Kingdom.