HomeLet

HomeLet describes itself as the UK’s largest tenant referencing and specialist lettings insurance company, and the pairing in that description is the whole business model. Referencing establishes whether a tenant is likely to pay; insurance covers the landlord if they do not. Selling both to the same agent is more valuable than selling either alone.

What It Does

• Referencing: tenant checks, including same-day turnaround
• Rent protection: rent guarantee cover for landlords
• Landlord insurance: buildings, contents and rent guarantee
• Tenant insurance: contents and liability cover sold to the tenant
• Agent revenue: commission paid to letting agents who introduce business
• Void notification: alerting agents to upcoming vacancies

Position

The commission arrangement explains the distribution. A letting agent is not merely a user here but a channel: they introduce the reference and the insurance and are paid for doing so, which makes HomeLet’s product part of the agency’s income rather than only its cost base. The company reported paying over £1.1 million in commission to agents across 2022.

The contrast with platform-led competitors is instructive. Where Goodlord treats referencing as one step inside a software workflow, HomeLet is an insurance business that references — a different centre of gravity for the same market. It states it serves over 5,000 letting agents, employs around 300 people in Lincoln, and has operated for over 30 years.