In Boston, and other metro areas, the Insurent Lease Guaranty Program allows for lease closures of "creditworthy" renters who don't meet the financial requirements of their landlord. These renters include recent graduates entering the workforce; self-employed persons; international executives relocating to the U.S. without U.S. based credit history; non-employed U.S. and non U.S. persons with cash liquid assets; retired persons; foreign students; and U.S. students.
"Applicants are looking for a way to quickly overcome the many challenges of qualifying for the apartment they want," explains Jeffrey Geller, COO of Insurent. "Insurent is transforming the multifamily industry as the first and only guarantor of residential leases nationwide, issuing thousands of lease guarantees involving $450 million of rent exposure, 300,000 units, and 2,200 buildings accepting. The pace of owner acceptance and utilization has accelerated, and we see more owners, or property managers approaching us every day."
Benefits for owners include reduced vacancies, faster closures, elimination of rent loss, and no cost to owners, landlords and property managers. Guarantees are usually issued within 24 hours.