Insurent® Lease Guaranty program began operating in Chicago earlier this year, and according to Managing Director Charles Schoenau, the company is eager to help rental property owners in the Midwest. “As Insurent increases owners cash flow, decreases vacancies, and eliminates rent loss without any cost to the owner, owners are able to adopt with confidence and use Insurent to enhance their profitability and provide more options to their renters. Vacancy rates in Chicago are approximately 5%, and we believe that we can lower those vacancy rates and increase the cash flow of residential buildings in the Chicago market.
The Insurent® Lease Guaranty 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 Insurent® Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by 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.
American Apartment Owners Association offers discounts on products and services for all your property management needs. Find out more at www.joinaaoa.org.