Is lack of rental history upsetting you a when trying to find a place to rent? Are you just starting out in business and need a rented space for your business? If you have no rental history to prove your credibility you could have the worst time of your life securing first rental home, apartment or workspace.
Landlords worry when they get tenants with a bad rental history, whatever the reason may be. They simply won't take the chance. After all, the landlords have a huge investment in their rental properties. The landlord, like you, is thinking of his or her needs only. Also, there are plenty of other tenants who can show a good credit and rental history. After all, thorough tenant screening is one of the best investments a landlord can ever have. Then why risk dealing with an unknown quantity?
You feel trapped in a sticky situation. How can you prove your reliability until someone first trusts you? The answer to all your distressing problems is a Guaranty of Lease. You may be able to move forward by finding someone reliable to back you with your plans. Signing a Guaranty of Lease and co-signing a loan are similar. Young people starting out fresh with their new lives, or people with prior financial problems, often need to find a co-signer in order to make a major purchase. It is very common for well wishers to step in and help a person make a start toward purchasing a home or a vehicle.
The Guaranty of Lease works in a similar fashion by giving landlords the security of knowing that someone who does have a strong financial statement, and credit and lease history will back their new tenant. The lease guarantor is giving you the once in the lifetime opportunity to make a start and prove your own worth in the financial arena. The guarantee could be the main element that allows you to pursue your dream of starting a new business or even securing a dream home for your family that you longed for which can otherwise be a daunting challenge.
The risk to your guarantor is similar to the risk when co-signing a loan. If you default, they pay. Your guarantor will be required to submit the same financial information that you did. Your landlord will want to be assured that they are not only willing to stand behind you, but that they have the resources to step in and start paying rent if you default.
Insurent.com provides a Lease Guaranty Program which helps you when you do not meet the criteria that the landlords require. A lease guaranty may also be helpful when a landlord requires additional security or prepayment of rent as an alternative to, or in addition to, a co-signer or guarantor. The Insurent Lease Guaranty typically may be used in any instance where a landlord would require the renter to have a third-party guaranty on a lease (e.g., a co-signer or guarantor). The Insurent Program, where available, will help you to rent your chosen apartment without having to find a co-signer or guarantor acceptable to the landlord and will eliminate the need for significant additional security or prepaid rent to the landlord. Insurent can speed the approval process and shorten the time needed to obtain an apartment.