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Frequently Asked Questions

Lease Guarantee

A Lease Guarantee allows owners and operators to lease with confidence and minimize financial loss due to defaults, damages, vacancy, holdover, no-shows, and more. This minimizes bad debt and improves NOI. A Lease Guarantee consists of Rent Coverage and optional Deposit Coverage.

Rent Coverage opens doors to renters who may not otherwise qualify, improving owners’ and operators’ lease conversion all while mitigating their financial risk of missed rent.

Deposit Coverage, a security deposit alternative, is optional and can also be added to a policy.

Renters do. The price is determined after underwriting in accordance with rates filed and approved by the regulators. Whether a policy includes only Rent Coverage or both Rent & Deposit Coverage, it covers someone (the landlord) other than the person who buys it (the renter).

Rent Coverage

Rent Coverage opens doors to renters who may not otherwise qualify, improving owners’ and operators’ lease conversion all while mitigating their risk of default, minimizing bad debt, and improving their NOI. It serves as an insurance policy: if a renter defaults on their lease, the Rent Coverage covers owners and operators for the missed rent. This way, operators can lease with confidence and renters access the apartment of their dreams.

Renters who do not meet your usual financial requirements to qualify for a lease. They may be self-employed, a recent graduate, actively seeking work, someone with a lower credit score, an international resident, or anyone that has an atypical or hard to evaluate credit profile. We also cover corporate leases and other exceptional circumstances, which we evaluate on a case by case basis.

More renters, less risk. Renters get qualified and operators fill vacancies and reduce their risk exposure. Everyone wins.

The policy covers up to a certain amount of missed rent. That means, depending on the bond you elect to require, rent for a certain amount in arrears and rent going-forward, until you find a new renter (but not concessions or penalties). We also cover certain damages, utilities, legal fees, late fees, and that sort of thing with our Deposit Coverage product.

Renters do. The price is determined after underwriting in accordance with rates filed and approved by the regulators. Our Rent Coverage is a type of insurance policy that covers someone (the landlord) other than the person who buys it (the renter).

The policy covers up to the full term of the lease, depending on our filings in your state.

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.

Getting Started and Using Operator Portal

It’s easy. Contact us at moreinfo@theguarantors.com and we'll get you signed up. There is no cost or commitment. We can provide more hands-on training if you'd like, but that's up to you. We’ll be your dedicated partner every step of the way.

As soon as we get the necessary information from the renter and operator. For most applications, we provide a response on the same day.

Not at all. You might want to, once we've made it easier to qualify renters, but you don't need to.

The portal is how we support owners and operators as they help their clients get qualified. Operators can engage their clients, track progress, view participating buildings, and close deals.

The sign-up form is available on the property manager page. Click here to go to the form. If you have any questions, feel free to email us at contact@theguarantors.com.

Yes.

Defaults and Claims

When a default happens, login to TheGuarantors online portal to submit your claim. Remember to file within 60 days of the last covered loss, after regaining possession or the 2 month holdover period.

Our policies are backed by licensed insurance carriers that are also A-rated by AM Best, including Hudson Insurance Group, Trisura, Intact, Everspan. Check out our licensing for more details.

In these cases, we allow you to use your security deposit on an amount of damages and legal fees before the remainder is credited towards missed rent. If you get our Deposit Coverage, your other costs, such as utilities, amenities, late fees, etc will be covered as well. We will additionally cover you for up to 2 months of holdover rent. All claims are subject to the bond term and coverage amount. Please contact us at moreinfo@theguarantors.com for more information

Deposit Coverage

Yes, we can add Deposit Coverage to any policy for an additional fee, payable by the renter.

Everything that a traditional security deposit would cover (including missed rent, legal fees, unpaid utilities, amenities, etc.). Claims are capped at the coverage limit requested. Our Deposit Coverage is active for the life of tenancy as long as the renter stays in the same apartment complex. If a renter purchases a bond in year 1 of their lease, the coverage is still active if they move out after 4 years, for example. This also means renters never have to renew their Deposit Coverage policy.

In the event of a disputed claim, we pay out to the operator and direct the renter to the operator, unless the renter has initiated court proceedings, then we pay out the claim if the court ruled in favor of the operator.

The renter.