Insurent Lease Guarantor Service in 2012

Insurent Lease Guaranty has been around for a few years but 2012 saw the rental service pick up steam with major landlords and owners across NYC and further into Queens, Brooklyn and New Jersey.

It is the only guarantor service that is pre-adopted by landlords so it is easy for the renter and landlord to get a rental apartment lease closed quickly.

Charles Schoenau, Managing Director of Insurent, explained “2012 has been a special year so far for Insurent. Since Insurent involves no costs of any kind for owners and developers and can quickly close leases that they want to close, it is becoming increasing clear to the New York real estate community that Insurent is an integral tool for owners and a vital service for many qualified renters who are unable to get the apartment they want without Insurent. ”

100,000+ Rental Apartments Accept Insurent Lease Rental Co-sign Service in NYC alone:

In just the few months, 20+ newly developed luxury buildings have adopted the Insurent Lease Guaranty Program. Most recently:

  • On the Westside in Clinton, the Icon building recently opened. Located at 306 West 48th Street, the Icon is a 43 story building with only three apartments per floor.
  • On the Eastside In Kips Bay, the Grayson is a new 17 story 128 unit new building located at 247 East 28th Street. Each apartment has Bosch Washers & Dryers, and bathrooms with soaking tubs.
  • The Hudson 192 located at 700 West 192nd Street in upper Manhattan.
  • Downtown in the Financial District, 25 Broad Street at the Exchange is a 306 unit new building with some unusual amenities including a full-swing golf simulator as well as a large landscaped roof deck with an outdoor kitchen, and a fitness center and Yoga studio.
  • The Crescent Club, located at 41-17 Crescent Street in Long Island City.
  • The Classic in Kew Gardens, which was developed by the Kamali Organization, has many amenities including a fitness center, children’s playroom, a social lounge with dining room, game tables and TV.
Jeffrey Geller, founder and Chief Operating Officer of Insurent, explained, “By adopting Insurent, owners now have a great tool to accelerate the speed and ease of closing more leases while eliminating all the financial risk. Many successful or well-off renters do not fit the owner’s requirements because they are international and do not have US credit, or they may be self-employed, retired, a student, or not employed with significant cash liquid assets. Many others with good US credit just fail to meet the income test required by landlords and do not have a qualified guarantor acceptable to the owner. Instead of turning the renter away or wasting time in vain trying to resolve the situation, owners can offer Insurent as a quick way for the renter to close the lease easily in 24 hours or less.

Brickunderground summarizes it best when discussing top 10 reasons to use Insurent Lease Guaranty Cosign Service:

  • Your mom will cry when she finds out how little your salary is.
  • Your dad will cry when he finds out how big the rent is.
  • You don’t know any potential guarantors in the Tri-State area who (1) earn 75-85x your monthly rent and/or (2) are willing deal with both the paperwork and risk of being liable for your unpaid rent.
  • There haven’t been any entry level jobs that pay 40x-50x the monthly rent in NYC since the early 1980s.
  • Your French accent is perfect because you were born and raised there, and, having just moved to New York a week ago, you have no U.S. credit history.
  • You haven’t felt the need to work since Great Aunt Edna passed, leaving you 1,000 shares of Apple stock she purchased in 1989.
  • You haven’t felt the need to work since retiring (quite well, thank you) at age 65.
  • The landlord will accept just one guarantor per lease and neither your parents nor your roommates’ parents are willing to risk their retirement savings on your rent.
  • You can’t live without a doorman, nor can you afford one on your salary.
  • What you spend on alcohol and earplugs in the dorm would almost cover the rent on a studio apartment.