We are excited to announce that LandlordsNY is launching our LNY Member Spotlight feature!
We will be profiling select members and vendors for this feature which will include a fun questionnaire offering a glimpse into their professional and personal background. Our first vendor member to be featured is Jeffrey L. Geller, Vice Chairman and Chief Operating Officer of Insurent Agency Corporation--the first institutional guarantor of residential leases. We have begun reaching out to members and the response has been overwhelming! If you'd like to be featured, please contact Aida Gashi (firstname.lastname@example.org) or 718 704 0696 ext. 107.
1. How long have you been in the business and how did you get started?
The Insurent Lease Guaranty Program (the “institutional mommy and daddy”) launched its unique lease guaranty service in 2008. Since that time, we have issued over 10,000 lease guarantees representing over $500 million of rent exposure guaranteed. The business developed as I had been an individual guarantor on many residential leases and thought there could be a market for an institutional guarantor of residential leases.
2. Tell us about yourself
Married with one daughter attending University of Michigan. Received MBA from Columbia Graduate School of Business and BA from Columbia College. Background is corporate finance, mergers & acquisitions and private equity/LBOs. Enjoy riding, historical and spy novels and movies.
3. What advice would you give to yourself if you were at the beginning of your career?
Enjoy what you are doing and take risks.
4. What do you find most hopeful in NY's real estate industry?
Its ability to continue growing and changing.
What do you find most concerning?
The high prices of co-ops and condos which defy reality.
5. If you were to do anything else, what would that be?
6. How do you think the business will be different in 10 years?
Fairly similar but we will have expanded in many more cities in the US and abroad.
7. What's your favorite quote?
"The only thing necessary for the triumph of evil is for good men to do nothing."
8. Tell us how your business helps landlords?
At no cost to landlords/owners, the Insurent Program reduces vacancies, turns “lost deals” into closed leases for “creditworthy” persons that landlords want to close, drives renters to their buildings, eliminates all rent loss and streamlines the rental process for all parties. Landlords and owners solely accept the Insurent Program; renters pay for the Insurent Guaranty.
9. What was your first job?
Corporate finance at W.R. Grace, a major industrial conglomerate.
10. What do you find most rewarding about your career?
The ability to grow a unique business rapidly while simultaneously assisting all parties in the rental process to get what they want.