New York City is a magnet for artists, musicians, actors, and writers. It always has been. While many of these members of the so-called creative class may earn a decent income, most work as freelancers, which means their source of income can be precarious. So what do you do when faced with this situation? A potential tenant with a little money in the bank, and a poor credit score - they are surely riskier categories of renters. They seem like good people, but you can't take on any unnecessary risk. Most of you would never accept this tenant without a guarantor...and even then, it's still a little iffy.
Traditionally, landlords have asked a person in a better financial situation to act as guarantor. Typically, this was a family member. However, should financial troubles arise for this person, it could make it impossible for them to live up to the agreement. The guarantee that you’ll collect is far from rock solid.
With the launch of Insurent, the first institutional guarantor of residential leases, this concern is a thing of the past.
By having your tenant purchase the Insurent Lease Guaranty, you are assured that you will always be able to collect your rent.
The @Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, an A (Excellent) rated Insurer by A.M. Best with $1 billion of surplus capital.
Think of it as asking your tenant to buy you peace of mind, at no cost to you. We refer to Insurent as the "Institutional Mommy & Daddy" for your tenant. It costs you nothing.