Rest easy knowing your rental income is protected. Here’s some more information to get you started with more peace of mind.
You can select how many months of rent you want coverage for – 3, 6, or 12 months. That means, depending on the length of coverage you select when you invite a renter, we’ll cover rent for a certain number of months in arrears and rent going forward, until you find a new renter.
Renters pay the policy premiums. First, invite your applicants to apply. After they have completed the application, if they are approved, they will then proceed to payment. There are no fees to the landlord for coverage or registering.
Pricing is personalized based on a few key factors, including the monthly rent, the renter applicant’s financial profile, and the coverage you require. The renter will receive a quote after completing our free online application. If approved, the renter pays an upfront, non-refundable premium.
If the property owner wants to continue their lease guarantee beyond the first term, then the policy must be renewed with every new lease (usually annually).
Under many circumstances, a renter who doesn’t meet your qualification standards will be turned away. Our coverage makes it easier for a renter to be approved, while at the same time protecting your rental income. So you can rent to them with greater peace of mind, and they get the home they want.
TheGuarantors has indemnification rights to pursue the renter for any claims paid. The renter is aware of this because they sign an agreement that outlines their responsibilities.
TheGuarantors allows me to approve more renters without increasing my property owners' risk. I am able to reduce move-in expenses for the renter while protecting the rental property 6-12x more than what a typical security deposit would cover.
A Lease Guarantee allows landlords to lease with confidence and minimize financial loss due to defaults, damages, vacancy, no-shows, and more. This helps reduce out-of-pocket losses and protects your rental income. A Lease Guarantee consists of Rent Coverage and optional Deposit Coverage.
Rent Coverage opens doors to renters who may not otherwise qualify, helping landlords fill vacancies faster while mitigating the financial risk of missed rent. Deposit Coverage, a security deposit alternative, is optional and can also be added to a policy.
Renters pay our policy premiums. There are no fees to the landlord for coverage.
You can file a claim with us online. Detailed procedures for filing a claim are provided in the Lease Rental Bonds General Terms and Conditions.
No, your renters will provide documentation. After you invite your prospective tenant to apply for coverage, they will be prompted to complete an application online, where they will upload their documents and provide permission to run a soft credit check. For most renters, we only need a copy of government-issued ID.
Pricing is personalized based on a few key factors, including the monthly rent, the renter applicant’s financial profile, and the coverage you require. The renter will receive a quote after completing our free online application. If approved, the renter pays an upfront, non-refundable premium. The cost is per lease, not per renter, so roommates can share the cost.
Under many circumstances, a renter who doesn’t meet your qualification standards will be turned away. Our coverage makes it easier for a renter to be approved, while at the same time protecting your rental income. So you can rent to them with greater peace of mind, and they get the home they want.
We're happy to answer any questions you might have. Email us at landlord@theguarantors.com.
