Our vision is to be the “go-to” most trusted brand for insurance products and financial solutions throughout the real estate industry. Our team of experts have pulled together some FAQs to help you navigate the space.
From accelerating the leasing process to navigating the claims process, we are here to help.
Our rental lease guarantee opens doors to renters, by eliminating the risk of default for landlords. The lease guarantee is basically an insurance policy: if a tenant defaults on their lease, the lease guarantee covers landlords for the missed rent. Landlords lease with confidence and tenants get the apartments of their dreams.
Renters who do not meet the landlord’s financial requirements to qualify for a lease. These can be students, foreign nationals, self-employed, or really anyone that has an atypical or hard to evaluate credit profile. Landlords tend to be fairly cookie-cutter in their approach to qualifying tenants. We're not. We also cover corporate leases and other exceptional circumstances, which we evaluate on a case by case basis.
Renters do. The price is determined after underwriting in accordance with rates filed and approved by the regulators. A Lease Guarantee is a little unsusal because it's an insurance policy that covers someone (the landlord) other than the person who buys it (the renter).
Not much--it's very easy. Just drop us a line at bizdev@theguarantors.com and we'll get you signed up in minutes. There's no cost or commitment. To repeat, there is no cost or commitment. We can provide more hands-on training if you'd like, but that's up to you. From our perspective, it's a partnership and we're here for you every step of the way (but not in the way).
It depends a bit, but for US-residents, typically around 4.75-7.5% of the annual rent, and for for non-US residents, typically around 7-10% of the annual rent. The cost is per lease, and not per tenant (so roommates can split the cost). Another thing to keep in mind is that sometimes landlords don't need the full lease to be guaranteed--if the landlord accepts, for example, 9 months' rent guaranteed, that will bring down the price of the policy.
More renters, less risk. Renters get qualified and landlords fill vacancies. Everyone wins.
The policy covers the term of the lease--up to 24 months.
As quickly as we get the required information from the renter.
Yes!
Not at all. You might want to, once we've made it easier to qualify tenants, but you certainly don't need to.
It's really easy--when a default happens, just shoot us a note at claims@theguarantors.com and we'll take it from there. Or you can use the Landlord Portal. In all cases, claims are paid within 3 days.
Our policies are backed by a deep bench of blue chip insurance carriers--The Hanover Insurance Company, Arch, UCS, and Chubb. Check out our licensing for more details.
The policy covers missed rent--that means rent in arrears and rent going-forward, until you find a new tenant (but not penalties or late fees). We also cover damages, legal fees, and that sort of thing with our Security Deposit Replacement.
In these cases, we allow you to cover legal fees using the security deposit less damages. Furthermore, we will cover you for up to 2 months of holdover rent. Please contact us at contact@theguarantors.com for more information.
The landlord portal is how we empower landlords and leasing staff to help their clients get qualified--engage their clients, track progress, view participating buildings, and close deals.
The sign up form is available under the "Residential" page. Click here to go to the form. If you have any questions, feel free to email us at contact@theguarantors.com.
Yes! We can add damage protection--the security deposit--to any policy. Just let us know.
Our bond covers anything that a traditional Security Deposit would cover (Excessive Wear and Tear, missed rent, legal fees, etc.). Claims are capped at the coverage limit requested.
Generally, renters need a credit score higher than 550 (depending on the state), but there are other factors we consider (and we understand not everyone has a credit score). We work hard to give you the best rate we can and qualify the most tenants possible.
We do not adjust claims, it’s as simple as that. We pay out to the landlord in the event of a claim and direct the tenant to the landlord in the event of a dispute.
The renter pays for coverage prior to, or simultaneously with, lease signing.
From accelerating the leasing process to navigating the claims process, we are here to help.
Our rental lease guarantee opens doors to renters, by eliminating the risk of default for landlords. The lease guarantee is basically an insurance policy: if a tenant defaults on their lease, the lease guarantee covers landlords for the missed rent. Landlords lease with confidence and tenants get the apartments of their dreams.
Renters who do not meet the landlord’s financial requirements to qualify for a lease. These can be students, foreign nationals, self-employed, or really anyone that has an atypical or hard to evaluate credit profile. Landlords tend to be fairly cookie-cutter in their approach to qualifying tenants. We're not. We also cover corporate leases and other exceptional circumstances, which we evaluate on a case by case basis.
Renters do. The price is determined after underwriting in accordance with rates filed and approved by the regulators. A Lease Guarantee is a little unusual because it's an insurance policy that covers someone (the landlord) other than the person who buys it (the renter).
It depends a bit, but for US-residents, typically around 4.75-7.5% of the annual rent, and for for non-US residents, typically around 7-10% of the annual rent. The cost is per lease, and not per tenant (so roommates can split the cost). Another thing to keep in mind is that sometimes landlords don't need the full lease to be guaranteed--if the landlord accepts, for example, 9 months' rent guaranteed, that will bring down the price of the policy.
The price is based on underwriting and in accordance with rates filed and approved by the regulators. In general, better credit leads to lower prices, but there are perks for students and first-time renters.
The policy covers the term of the lease--up to 24 months.
As quickly as we get the required information from the renter.
Yes!
The broker portal is how we empower brokers to help their clients get qualified--engage their clients, track progress, view participating landlords, and close deals.
The sign up form is available under the "Brokers" page. If you have any questions, feel free to email us at contact@theguarantors.com.
It's up to the landlord. We're not a one-size-fits-all solution. Our Dynamic Lease Guarantee covers up to 24 months' worth of rent (for a two-year lease), but if the landlord only wants 6 months of rent protection, we'll do that too. The less rent protection the landlord needs, the less cost to the tenant.
Yes! We can add damage protection--the security deposit--to any policy. Just let us know.
Yes. We've got that too. Just ask.
We are a Fintech company that is rethinking insurance products and financial solutions for residential and commercial real estate professionals as well as their residents and tenants.
We are The Guarantors Agency, a licensed insurance agent and broker. Technically speaking, we don’t provide you coverage but we find you coverage from one of our insurance partners. For more detailed information on either our licenses or any of our insurance partners, please see our Legal/Regulatory Notice.