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1. Screen Your Tenant
Order a tenant screening package. The free LeaseGuarantee Analyzer included will tell you if your tenant qualifies for LeaseGuarantee (most tenants do).
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2. Invite Your Tenant
Choose the protection amount the landlord requires and invite the tenant to purchase LeaseGuarantee. Use it to replace or supplement a deposit.
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3. Get the Lease Signed!
Once LeaseGuarantee is purchased, the rental is protected for 12 months from legal fees, damages, and lost rent. Proceed with lease signing!
Fill Vacancies Faster
Help tenants qualify even if they don’t meet a landlord’s requirements.
Landlords are more likely to accept an applicant that is backed by LeaseGuarantee because they’ll get additional protection from potential rental losses, legal fees, and damages.
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Reduce Tenant Move-In Costs
Avoid burdening quality tenants with a high security deposit.
Tenants pay a low LeaseGuarantee fee and landlords get thousands of dollars worth of protection. This allows tenants to free up cash for other move-in expenses. Annual rates start at:
- $199/yr for $1,000 protection
- $299/yr for $2,500 protection
- $598/yr for $5,000 protection
- $897/yr for $7,500 protection
- $1,196/yr for $10,000 protection
Improve Your Reputation
Boost your reputation by helping landlords protect their rental income.
Finding a good tenant AND guaranteeing the rent will set you apart from other agents. You’ll close the lease faster and open up new opportunities in the future with the landlord you’ve helped.
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Qualify Co-Applicants
Help multiple tenants apply and get approved.
When two or more applicants are applying together, but not all of them qualify, LeaseGuarantee can still provide coverage. As long as one applicant meets LeaseGuarantee’s minimum requirements and purchases LeaseGuarantee, all co-tenants are automatically covered.
Better Than a Cosigner
Avoid using cosigners and back tenants with a real guarantee.
Finding a cosigner can delay closing a lease, but you can use LeaseGuarantee instead of cosigner for tenants with poor credit or low income. In the event of default it will likely be easier for a landlord to collect from LeaseGuarantee rather than a friend or relative who cosigned.
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FAQ
If I have co-applicants do I need to get LeaseGuarantee for all of them?
No, if a LeaseGuarantee contract has been offered and the LeaseGuarantee has been paid for one tenant on the lease agreement, then all tenants listed on that lease agreement are covered.
How long is the LeaseGuarantee contract good for and is it renewable?
A LeaseGuarantee contract is valid for 12 months from the date of purchase, unless you contact us to request a different starting date. After the 12 months is up the landlord can renew for another 12 months as long as the tenant still qualifies for LeaseGuaranee. The LeaseGuarantee fee may vary for renewals depending on whether the tenant’s credit score has changed.
How can landlords qualify for reimbursement?
The landlord must report any non-payment of rent, notices issued to the tenant, court filings, and changes to the parties on the lease within 10 days. Then they can file a claim by submiting a copy of the lease agreement, LeaseGuarantee addendum, rental applications, and a court judgment to [email protected].
What if the tenant stops paying rent?
The landlord will be required to report nonpayment of rent within 10 days of rent being late. If the landlord is unable to negotiate a mutually acceptable settlement with the tenant(s), the landlord must obtain a court judgment against every adult listed on the LeaseGuarantee contract and lease. Upon receipt of the court judgment, the landlord will submit it to TenantAlert and will be reimbursed the amount of the judgment up to the maximum LeaseGuarantee contract amount, whichever is less.
If my tenant pays for LeaseGuarantee is the landlord still the beneficiary?
Yes the landlord who is listed on the lease agreement receives all the LeaseGuarantee contract benefits regardless of who pays for the LeaseGuarantee.
Can I get LeaseGuarantee for current tenants?
No, LeaseGuarantee must be purchased after you screen a tenant but before they sign a lease and move in.
