Only My Share reports 82% increase in sales in midst of pandemic
Rent arrears protection service Only My Share has reported a steep rise in demand for its joint and several liability cover from tenants and landlords alike, as the COVID-19 pandemic serves to make renters more conscious of their financial liabilities.
Part of the Housing Hand family, Only My Share offers rent arrears protection to those who rent rooms individually (along with their guarantors), to prevent them from being liable should a housemate fail to pay their rent under a joint and several clause. The company saw its sales numbers climb by 82% between March and September 2020, in comparison to the same time period of 2019.
Driven by this increase in sales and the need for rent protection, Only My Share has taken the opportunity to rebrand its website. As well as making its site more intuitive for customers and delivering enhanced information, the new B2B service will allow landlords to purchase Only My Share protection on behalf of the tenant.
Only My Share primarily serves university students living in houses in multiple occupation (HMO) properties. However, 44% of its users are in the 25- 44 age bracket, meaning that it’s a product for the emerging “generation rent,” as renters of all ages realise the need for rent protection in these turbulent times. By enhancing the user experience, the company is ensuring that all those who need it get the best out of its website.