TheGuarantors Program Review 2024
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In this review we evaluated TheGuarantors’ features, plans, pricing and other important aspects to help our readers make a more educated purchase decision.
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What Is TheGuarantors?
TheGuarantors is a lease guarantee company offering insurance products that provide greater access to renters and stronger protection for landlords.
The company is also a licensed insurance agent and broker, backed by multiple A-rated insurance carriers such as The Hanover Insurance Group and Arch Insurance.
Founded in 2015 by Julien Bonneville, TheGuarantors has over 200 employees across 8 different countries.
The company has also partnered with some of the largest brands in residential real estate, representing nearly 3 million units nationwide.
With over $2 billion in rent protected and deposits guaranteed, TheGuarantors is the country’s largest guarantor of residential leases.
What Is TheGuarantors Used For?
TheGuarantors helps protect landlords’ properties against losses from rent defaults, vacancies, lease breaks, and damages. Their platform is free for landlords and affordable for renters.
TheGuarantors provides the following two types of coverage for landlords in one simple solution.
Rent Coverage
With TheGuarantors, you can expand your pool of qualified renters without compromising on qualification requirements or increasing your risk.
Using their platform ensures your rental income and does not require a guarantor or co-signer.
Deposit Coverage
TheGuarantors eliminates the need to collect, manage, and return cash security deposits. You can provide this perk as a form of concession, without putting yourself at risk.
Renters pay a small fee, allowing them to rent deposit-free, while you remain protected against missed rent, damages, legal fees, and more.
TheGuarantors Users Breakdown by Specialty
Real estate professionals:
- Real estate investors (passive income and landlords)
- Property management companies
- Real estate agents
Renters:
- Students
- International residents with no U.S. credit history
- Renters with thin or low credit
- Freelancers
- Self-employed
- Retirees / people on fixed income
Is TheGuarantors Legit?
Yes. TheGuarantors is one of the best lease guarantor companies for landlords with over $2 billion in rent protected and deposits guaranteed.
The company’s policies are also backed by top insurance carriers and they are partners with some of the largest brands in residential real estate that represent nearly 3 million units across the US.
TheGuarantors has also received numerous awards and recognitions, and has been featured by reputable publications.
In addition, TheGuarantors’ customer reviews are stellar, earning 4.6 stars from renters on Google and 99% customer retention with landlords.
TheGuarantors Customer Reviews
TheGuarantors Pricing
TheGuarantors allows landlords to access the company’s rental coverage products at no cost.
Renters, meanwhile, typically pay a percentage of one month’s rent depending on the amount of coverage the landlord requires, the monthly rent, and the renter’s risk profile.
For Rent Coverage, the cost is generally between 35%-85% of one month’s rent for a one-year lease. This cost is charged per lease and not per renter.
For Deposit Coverage, the cost varies depending on the state you are in, among other factors. Generally, though, the cost is between 6%-33% of one month’s rent.
TheGuarantors offers standard coverage levels that renters may fully customize.
Low Coverage
The Low Coverage covers one month of deposit and provides zero coverage for rent.
For a $2,000 monthly rent, for example, renters are charged 12%-17% at around $300 for the coverage.
Medium Coverage
The Medium Coverage covers five months of rent and one month of deposit.
For a $2,000 monthly rent, renters are charged 50%-60% at around $1,050 for the coverage.
Max Coverage
The Max Coverage covers 11 months of rent and one month of deposit.
For a $2,000 monthly rent, renters are charged 90%-100% at around $1,975 for the coverage.
TheGuarantors Coupon & Promo Codes
TheGuarantors Features
TheGuarantors protects landlord assets against financial losses and insures their rental income. Using their service reduces vacancy, while helping landlords manage their risk.
Below are the features of the service.
Rent Coverage
With Rent Coverage, landlords are able to expand their pool of qualified renters without compromising on qualification requirements or increasing their risk.
When you use TheGuarantors platform, you ensure that your rental income is protected. Renters, on the other hand, are not required to get a guarantor or co-signer.
Deposit Coverage
With Deposit Coverage, landlords do away with the need to collect, manage, and return cash security deposits.
Landlords may provide this perk as a form of concession, without putting themselves at risk.
For a small fee, renters are able to enjoy this coverage, allowing them to rent their dream home deposit-free, while protecting landlords from missed rent, damages, legal fees, etc.
TheGuarantors’ Rent and Deposit Coverage policies are the most flexible and comprehensive in the category.
Landlords are able to protect their rental income for as little as one month’s rent, or as much as the entire lease term, without increasing their operating costs.
TheGuarantors Pros and Cons
Pros
- Free for landlords
- Applications are usually processed on the same day
- Customizable coverage
- Claims are typically paid within 5 days at either repossession or lease end
- Policies are easily accessible via the landlord dashboard
- Available in 49 states (not available in Alaska)
- Robust customer success team available to answer any renter questions 7 days a week
Cons
- Not all renters are approved for coverage
TheGuarantors Integrations
TheGuarantors Alternatives
TheGuarantors Achievements
Awards & Recognition
Best Lease Guarantor Company for Landlords & Tenants (Awarded by Real Estate Bees)
Press & Media
- Forbes — America’s Best Startup Employers (2022)
- Deloitte — Technology Fast 500 (2022)
- Financial Times — Top 500 Fastest Growing Companies (2022)
- Inc. Magazine — 5000 Fastest Growing Companies in America (2021 and 2022)
- National Apartment Association — Top Employers (2022)
- Massachusetts Apartment Association — Supplier of the Year (2022)
- GlobeSt Multifamily Influencer Award (2022)
- Built In’s Best Places to Work 2022 List — Best Remote Companies to Work (2022)
- NAA Apartmentalize: Standout Booth (2022)
Other mentions in major publications such as The New York Times, The Wall Street Journal, and Fintech Finance.
TheGuarantors FAQs
How many clients does TheGuarantors serve?
TheGuarantors’ Rent and Deposit Coverage is available in over 1.3 million rental units all over the United States.
The company’s rental customers include students, international residents with no US credit history, renters with thin or low credits, freelancers, self-employed individuals, people on fixed income, and retirees.
Who founded TheGuarantors?
TheGuarantors was founded by Julien Bonneville in 2015. The company was born out of Bonneville’s struggle in finding an apartment when he moved to New York City.
Being denied by a number of buildings, and knowing that fellow apartment hunters shared his struggle, Bonneville conceptualized a service that combines finance, technology, insurance, and real estate.
This gave way to TheGuarantors which aims to help qualified renters get the home of their dreams, while ensuring protection and growth opportunities for owners and operators.
What is TheGuarantors’ customer service number?
Customers may reach TheGuarantors via their contact number at (212) 266-0020.
Alternatively, landlords with 1-50 units can reach out via the following email: [email protected].
Landlords with more than 50 units can contact the company at [email protected].
TheGuarantors has a large customer service team servicing clients 7 days a week. They also offer customer support in 6 languages.
What is TheGuarantors’ cancellation and refund policy?
TheGuarantors may issue a refund to a renter if they meet the following conditions:
- The renter did not sign a lease with the building or their lease is canceled before the move-in date.
- The landlord has been able to confirm with TheGuarantors in writing that the renter does not need a policy.
A $100 cancellation fee will be deducted from the renter’s refund.
What awards and recognitions has TheGuarantors received?
As a reputable rental guarantor, TheGuarantors has received numerous awards from reputable institutions, such as Forbes (2022 America’s Best Startup Employers), Deloitte (2022 Technology Fast 500), and Financial Times (Top 500 Fastest Growing Companies).
The company has also made it to the list of Inc. Magazine’s 5000 Fastest Growing Companies in America in 2021 and 2022 and was named one of the Top Employers of 2022 by the National Apartment Association.
GlobeSt has also lauded TheGuarantors for being a Multifamily Influencer in 2022. Built In has also named the company one of Best Remote Companies to Work in 2022.
TheGuarantors has also bagged the 2022 Supplier of the Year award by the Massachusetts Apartment Association.
On top of these accolades, TheGuarantors has also been featured in major publications such as The New York Times, The Wall Street Journal, and Fintech Finance.
TheGuarantors Video Walkthrough
Is TheGuarantors Worth It?
Yes. TheGuarantors offers a number of benefits at no cost to the landlord.
Rent Coverage expands your applicant pool, while protecting you against missed rent, damages, and legal fees.
Deposit Coverage, on the other hand, eliminates the need to collect, manage, and return cash security deposits.
These offerings are generally paid for by tenants, who are more easily able to qualify to rent without having to fork over a large deposit.
TheGuarantors Contacts
- Website: Official website
- Phone: (212) 266-0020
- Email:
Landlords with 1-50 units: [email protected]
Landlords with 51+ units: [email protected] - Address: One World Trade Center, New York, NY 10007, United States
- Socials: Facebook, Instagram, LinkedIn
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About the Author
With over 20+ years of experience in real estate investment and renovation, Brian Robbins brings extensive knowledge and innovative solutions to the HouseCashin team. Over the years, Brian has been involved in over 300 transactions of income producing properties across the US. Along with his passion for real estate, Brian brings with him a deep understanding of real estate risks and financing.