Rent Guarantee Program Booming
The program was created to assist landlords, condo and co-op owners, renters and brokers in closing residential leases and reducing vacancies without cost for owners.
Insurent added many owners and thousands of apartment rental buildings in Chicago, NYC, Washington D.C. and Boston in 2013, and those numbers are climbing on a weekly basis, the company says.
Jeffrey Geller, Chief Operating Officer, attributes the climb in participation directly to the usefulness of the product in closing leases, and word of mouth from happy landlords and property managers who have eliminated rent losses. The program is indispensable when considering qualified international renters without US credit, as well as renters who are self-employed, retired, young professionals or students.
The Insurent Lease Guaranty Program is unique in offering the first institutional guarantor of residential leases. The program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.
Th program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlords financial and credit requirements.
The company plans to continue its expansion into 2014 by adding new landlords and property managers in New York, New Jersey, Illinois, Massachusetts, and Washington, DC.
American Apartment Owners Association offers discounts on products and services for all your property management needs. Find out more at www.joinaaoa.org.
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