The next interview in our interview series features Jeimy De La Cruz, a leasing specialist at 555TEN, a luxury building located near Hudson Yards. De La Cruz has been with 555TEN for three years and has more than six years of experience in real estate. Julianne Fiori, TheGuarantor’s Partner Success Manager, sat down with De La Cruz to discuss her experiences at 555TEN, where the conversation focused on how she’s navigating the changing real estate ecosystem with rent reform1 affecting a landlord's ability to maintain occupancy while staying protected.
2019’s summer months introduced an unfamiliar set of challenges that left leasing agents and managers scrambling for viable solutions. In this turbulent atmosphere, 555TEN was able to turn to TheGuarantors to help with deals affected by the rent reform. When speaking about their particularly difficult summer, De La Cruz noted “One thing was for certain - TheGuarantors were ready to jump in and make each deal a success story no matter the challenge, especially here at 555TEN in Hudson Yards”.
While further discussing her experience with Fiori, De La Cruz praised TheGuarantors’ simplicity in user experience, accessibility to underwriters, and solution based approach. She explained that “TheGuarantors is a first in class company with aligned values in the luxury rental market. Their services are client driven, expectations are exceeded and exceptional turnaround time makes all parties happy.”
The partnership between TheGuarantors and 555TEN has yielded “positive results” and “some really interesting success stories”. One story that stands out to De La Cruz is from a recently divorced client who needed quick assistance. Despite being a business owner, the renter could not be approved for the apartment due to young credit and the limitations of the new rent reform. She goes on to share that:
De La Cruz expects the partnership between TheGuarantors and 555TEN to grow in the coming years as TheGuarantors continues to act as a trusted source of innovative solutions in the real estate fintech ecosystem.
Their broker and I strategized on proposing we work with TheGuarantors as an alternative. At first, it wasn’t what the renter wanted to hear, but after getting on a call with one of [TheGuarantor’s] associates, the renter was put at ease, approved the same day and moved in after completing this year’s New York City marathon. With that being said, we can always expect the same to be done time after time as TheGuarantors' values highlight their versatility in our industry.
Despite the newfound challenges following rent reform, De La Cruz is optimistic about 2020 and the business opportunities that await. New developments are on the rise and De La Cruz has been “watching new neighborhoods flourish and grow within the luxury rental market.” 555TEN is ideally located at the intersection of Hell’s Kitchen and Hudson Yards and is surrounded by some of New York’s best restaurants and venues. The leasing staff at 555TEN is eager to add new clientele with the help of TheGuarantors and to create more opportunities for incoming and prospective renters.
The valuable relationships TheGuarantors have with owners, operators, landlords, and leasing staff offer key insights and a first hand perspective into the real estate world. Thank you, Jeimy De La Cruz for your insight, and for our readers, check back in next month as we continue our highlight series sharing these unique perspectives.
1For more information see here