Guarantors Help New York Renters Secure Apartments
Jan 20, 2020 brooklyn real estate,brooklyn realty,city harvest,guarantors,insurent,real estate,realty collective,rental leases,rentals,theguarantors,victoria alexander
When applying for an apartment in New York City it’s a pretty standard request of landlords that all applicants make an annual earning of at least 40 times the rent. If the applicant doesn’t meet that requirement then the applicant can submit an application with the help of a Guarantor. All Guarantors are required to have an annual income of at least 80 times the rent.
A lease guarantor is someone who guarantees payment on the lease if for some reason the monthly rent could not be paid for. With rents skyrocketing, many renters in New York must look to the help of a guarantor to back them financially, which ensures security for the landlord. Guarantors are usually a parent of the renter in question.
What will the landlord or broker ask of the guarantor:
1- Their Tax Returns
2- Proof of Employment
3- A Notarized document attesting to their guarantee
4- A Credit Report
You can see our guarantor paperwork here.
But what if your folks aren’t around, can’t afford it or you just don’t want to bother them? That’s where companies like TheGuarantors or Insurent comes in. Whether you are freelance and your taxable income doesn’t meet the requirements or you have some other mark against you in your rental application, this is the company that can get you that apartment you really desire. Plus a portion of their proceeds goes to charity! See below.
TheGuarantors are joining with City Harvest in an effort to fight against child hunger in NYC. When you rent an apartment and use our services, we’ll make a donation to help feed a child for one month. We believe in corporate responsibility and that businesses should play a role in social innovation and engage the local community. Our partnership with City Harvest allows our staff to commit to helping neighborhoods where we live and work. Let’s try to make a mark on this hunger epidemic.