TheGuarantors is a platform that connects renters unable to secure a lease independently with an insurance-backed guarantor through the Hanover Insurance Group.
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This company wants to make renting in New York much easier
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Fees are based on the risk category, the renter's financial situation and nationality — US citizens pay 5%-7% of the annual rent while noncitizens pay 7%-10%. Once the landlord confirms the lease details, renters have to sign a Lease Rental Bond backed by Hanover, and the landlord then secures the property for the renter. Landlords can log into a dashboard on the platform for an overview of their rental activity, and can easily check when tenants' policies are expiring, and how far along each application is.
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