75 Clinton Street is the latest exceptional new building in Brooklyn which uses the Insurent Lease Guarantor Program to enable many renters to quickly and easily qualify for their apartment.

The demand to live in the attractive and convenient neighborhoods of Brooklyn, like Brooklyn Heights, has increased markedly over the last 18 months, and at the same time the quality of the new developments is often as excellent as anywhere in NYC. Many of the new luxury rental developments, like 75 Clinton Street,were originally planned as condos and were built with the high end condo specs.

Andrew Barrocas who is President of MNS explains, “A few Brooklyn developments like 75 Clinton Street were financed and built with high end condo specifications including unusually large layouts, outdoor space, and very high end finishes and appliances. As a result, the renters are offered unique, high quality rental apartments which are as nice as any condo.”

75 Clinton Street has many features which may particularly appeal to renters. Unlike most rental buildings, 75 Clinton has 10 foot ceilings and large windows with open views which gives each apartment a very spacious and attractive feel. Other features in the building are health club, storage lockers and roof deck with dramatic NY views. Convenient to many subway lines, it also offers a quick and easy commute to Manhattan for work or play.

75 Clinton street is managed by Milestone Management, L.P. with The Marketing Directors doing the leasing of the studio, one, two, and three bedroom apartments. 

Charles Schoenau, Managing Director of Insurent, added: “ By accepting the Insurent Lease Guaranty Program, 75 Clinton Street will be able to give more international and credit-worthy domestic renters the opportunity to quickly qualify for and get an apartment at 75 Clinton Street. Large numbers of US and foreign young professionals, international and US students, wealthy foreigners, self-employed, retirees, and well-off individuals with good credit are unable to qualify without Insurent. That problem can now be easily solved for the benefit of all.”

ABOUT INSURENT LEASE GUARANTY 
The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.

The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.

Jennifer H."I am a two-time customer of Insurent, and I can honestly say I've had the best experience working with the company. The team is personable, and they quickly qualify all applications. I am so grateful that someone has finally come to the rescue of us individuals who don't meet the ridiculous standards city living places on its' occupants. My roommates and I are 25 and it seems what we make is never enough to qualify for a luxury building. We need the luxury building b/c it's nice to have that extra security being girls in the city. Sure, it's an added expense during a move, but it's completely worth it. I have relied on Insurent for the past two years for a couple reasons: 1 - the economic downturn left all our parents in a position where they could not financially qualify to guarantee our apartment, and 2 - we are all ready to be independent of our parents, and this lets us do that!

Mario A. "Insurent is THE sole reason my roommate and I were able to obtain a "Chicago-style" apartment in the middle of Manhattan. New York City rental requirements can be insanely stringent; making it very tough for even individuals with high earnings, high net worth, and great credit scores to find the apartment of their dreams. I am very happy I found Insurent and I highly recommend the service. (Also, it did not hurt that the key professional we worked with is a fellow MSU alum!)"

Rebecca W."Without Insurent, I would not be living in my amazing findof an apartment. After weeks of looking at apartment, I found the perfect placeand applied, feeling relieved for the search to be over. That is, until myroommates and I were denied due to insufficient income. Our credit scores wereexcellent, but we could not get... enough guarantor money together to secure theapartment. The apt building manager then suggested Insurent, spoke highly oftheir repertoire with the company, and advised us to contact them. We did, andwithin less than 2 days, we had our apartment. Insurent worked with us tofulfill the apt building’s requirements, and even had people at the office inoff-work hours to accept our paperwork. What a relief! They are the perfect solution for ayoung professional moving into Manhattan."

Zach J "I used Insurent 3 months ago to get an incredible 3 bedroom apartment. It is the best option for recent college grads who are successful and don't want to use their parents as guarantors. The process was really easy and now I'm hopefully set for all future NYC apartments.

Arjun P. "I am an international undergraduate student and have two roommates but we had no guarantor based in US. Well we didn't feel that this was a good enough reason for us to keep living in our university dorms for the third year. And then we found Insurent who believed the same, and as soon as we fulfilled their requirements which were very clear and student-friendly, the papers were ready and the deal was done! Thanks so much Ronald! Oh and extremely courteous and helpful staff!"

Inkun Y. "I needed a guarantor with an overly picky management company for a rental. Insurent stepped right in and problem solved the same day. They are fast and friendly"

Nicola G. "We've found a wonderful apartment in NYC but we are a start-up foreign company....with Insurent we got the solution in few days!!! fast, and so kind in helping us and in answering to all our questions."

Jeremy L. " I found a great apartment in Midtown, and ever though i could easily afford the rent, i did not qualify, insurent saved the day, and i managed to get the free rent offer in time, if you need and apartment and run into issues i highly recommend Insurent.

New York, NY (PRWEB) March 27, 2012

The 2012 NYC rental season will be the most difficult and competitive in the last five years says NYC guarantor service Insurent Lease Guaranty. The rental market in New York is on fire with rental prices at all time highs, turnover and vacancies at low levels leaving fewer apartments for the increased number of people who prefer to rent rather than buy, even at high prices.

Then, how do foreign students get an apartment with no credit or income, little money, and parents who live in Asia, Europe, or South America who are not acceptable guarantors in the eyes of the landlord?

International students in New York City are now able to easily qualify for and secure the apartment they want. As a foreigner, they do not have US credit which is critical for landlords, and as students they do not work, and usually have very little money in their own name. No credit, no job, and not much money in the bank makes it exceedingly difficult to rent for international students. In the past, their only way to secure an apartment was to prepay the full year’s rent or to put up six months or more security.

Moreover, many rental buildings in Manhattan are not legally permitted to accept prepaid rent or extra security, so this is not an option in most cases even if the student had the resources to do so.

Many international students are now able to close on their apartment in less than 24 hours through the Insurent Lease Guaranty Program. The Insurent Lease Guaranty guarantees the lease and enables the landlord to accept the international student renter with no financial risk.

Charles Schoenau, Managing Director of Insurent, explains, “We have guaranteed hundreds of foreign students in the last year and the numbers continue to increase rapidly. We make it so much easier for the international students who may look for weeks unsuccessfully without us and waste unnecessary amounts of time and suffer from understandable frustration and anxiety. We want to get the word out how easy and fast it is to get it done with Insurent.”

All that is required of the student is a copy of their passport and visa, a copy of their parent’s passport and evidence that the parent’s annual income in their home country is a minimum of 50x the times the monthly rent or that the parent(s) have cash or marketable securities in their home country equal to a minimum of 80x the monthly rent.

By using Insurent, the student and their parents know that they can get the apartment that they want in short order.

ABOUT INSURENT LEASE GUARANTY

The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.

The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.

The NYC apartment renter will be facing tough market conditions which will make it especially challenging to rent an apartment this upcoming rental season. Insurent Lease Guaranty states that the challenges for renters are: high demand from many who prefer to rent, very high prices, low vacancies, occasional above ask bids, multiple applications, very tough qualification standards, short window of opportunity or time on the market, waiting lists for apartments before they are listed which limit the number of apartments actually reaching the market, and less supply due to fewer new luxury rental buildings opening in 2012.  

All in all, renters are facing a very difficult market in 2012 and will have to be fully qualified, totally prepared, and capable of deciding quickly want a particular apartment.

Shai Gruber, head of Caliber Associates New York office, concisely explains the dramatic reversal of conditions of the rental market during 2011 and the very challenging 2012 market conditions: "At the very beginning of 2011, the rental market was very much in the favor of the renter: vacancy rates were much higher than they are in February 2012, and the prices of apartments were much lower. Therefore, in 2010 and in January 2011, owners were still offering OP (to pay brokerage fees) and also offering rent concessions to attract renters. The conditions changed during 2011 season and now in February 2012, it is a very strong landlord market as the conditions are completely different from January 2011: prices are higher, vacancies are lower, OP has disappeared, and rent concessions are rare. It is now a much more difficult market for the renter."

Charles Schoenau Managing Director of Insurent, added: "Many renters are not aware how the market conditions have changed dramatically in the last 13 months, and some mistakenly believe that the economic turmoil on Wall Street and worldwide has kept the NYC rental market in check. Most renters are in for a shock when they see how fast apartments rent, how high prices are, how difficult it is to qualify in many cases, and how quickly they have to decide about an apartment if they are qualified. One renter told me this week that he finally found 3 apartments that he would consider, but when he called the next day, they all were gone in less than 24 hours. Another renter from overseas was making periodic trips to NYC, and every apartment he liked became problematic and he lost it, often before he could even present all his documents. Renters, who are not fully prepared and qualified or hesitate, are having to spend a long frustrating time trying to nail down the apartment that they want in 2012."

 In 2012, renters must be sure that look early enough and can be decisive about the apartment. Equally important, the renter and their broker must be sure that the renter has all the renter's paperwork in order, as well as their guarantor's paperwork in perfect shape, or be prequalified by Insurent, before they apply for the apartment. Renters who have any flaws in their application or qualifications will be at risk of losing their rental apartment to a qualified competitive renter and destined to spend a longer and frustrating period of time finding their apartment.

 The Insurent Lease Guaranty Program can solve all of these problems for the renter.

 ABOUT INSURENT 

The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.

The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord's financial and credit requirements.

New York, NY (PRWEB) February 16, 2012

Insurent announces its ability to guarantee corporate residential leases. 

This new Insurent option is very useful for U.S. and foreign companies with a desire to have a corporate residential apartment. Insurent helps the corporation get the desired apartment as well as takes all the risk away from owners. Historically, many owners have been unwilling to accept corporate leases for a variety of reasons, but now owners are willing to entertain corporate leases if the Insurent Lease Guaranty Program guarantees them.

CORPORATE LEASE GUARANTY

There are many reasons why a corporation would prefer/need a corporate lease of a residential apartment, condo or townhouse. For example, if a company is contemplating a large lease of $7,000 to $30,000 per month, the employee may not actually qualify, given the size of the lease. Insurent is starting to do corporate leases for a number of public and private U.S. corporations as well as U.S. subsidiaries of foreign private and public corporations and foreign corporations.

Charles Schoenau, the Managing Director of Insurent, comments, “From the residential owner’s perspective, the ability to close a very expensive lease with a corporation can be a great option because it clearly increases the owner’s cash flow and without any risk if Insurent guarantees it. With very large leases, owners know that it is difficult to find qualified renters. In many cases, corporations clearly have the easier capability of assuming a large rent obligation.”

Issuing guarantees on corporate leases of residential apartments is just a further broadening of the Insurent Program serving the interests of owners, brokers, and renters in the residential market.

Jeffrey Geller, the founder and COO of Insurent, adds, “Issuing guarantees on corporate leases of residential apartments is just a further broadening of the Insurent Program serving the interests of owners, brokers, and renters in the residential market." Other segments that Insurent assists include (i) creditworthy responsible college and professional graduates entering the workforce who don’t meet the NYC landlords’ 40x-50x annual income/monthly rent multiple, (ii) foreign executives relocating to the U.S. who have no U.S. credit history, (iii) relocating U.S. executives, (iv) self-employed persons, (v) non-employed foreign and US renters with significant cash liquid assets, and (vi) international and U.S. students with Responsible Parties. I also expect that we will continue to create additional innovative options for all in the residential rental market in the near future.”

ABOUT INSURENT 
The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.

The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.

###

By Alicia Schwartz

I have not made it a secret that I am a huge fan of the lease guaranty program Insurent.  When I was a broker the biggest issue I had was good people with good salaries not qualifying for the apartment because they didn't make 40-50 the monthly rent. The second biggest issue I had were parents not wanting to be guarantors for their kids because of the amount of paperwork involved. Insurent is the magic bullet that actually fixes both of these issues. Brokers, renters should rejoice that Insurent exists!

Insurent in simple terms is a program that enables renters to quickly qualify and get the apartment they want if they have good credit (not perfect)  and a solid salary (27.5 x the monthly rent)  by acting as the renters co-signer (guarantor) on the lease. Many management companies automatically accept the Insurent program. To see a full list click here. Landlords accepting the Insurent Lease Guaranty Program presently represent over 67,000 units at over 670 buildings. The list grows weekly as management companies are wising up to hard economic times and accepting Insurent as finding qualified guarantors and highly qualified renters are now rare. By accepting the Insurent Program, the landlord can turn “lost deals” into closed leases for credit-worthy U.S. parties and foreign renters without U.S. based credit history, at no cost to the landlord. Foreign renters was actually my third largest problem as a broker, no landlord wants to deal with the paperwork or rather lack their of for foreign renters even though they have monies and good credit in the country they are from. Insurent seems to be the band-aid for this problem as well.

For renters the Insurent fee is on average between 66-78% of a month’s rent. For those of you using a broker you know that a brokers fee is about 1.5-2 x the monthly rent. Insurent ends up being a necessity for many renters who are just trying to make it in the big apple or who want to renegotiate rents for upcoming leases. For “credit-worthy” renters, it enables them to quickly obtain the apartment of their choice at a reasonable fee. Many of the leases that Insurent has guaranteed could not have closed as the renter didn’t have a guarantor who made 80 x the monthly rent, or didn’t have the additional cash resources to put up 3-6 months of additional cash security to a landlord. And do not worry in a fast moving rental market: Insurent qualifies people on-line within one hour and normally issues the guaranty to the landlord within 24 hours.

New York City renters who have good credit, a good salary by normal standards, and you know who you are... go to Insurent.com. If you live in a building or want to live in a building that currently does not accept Insurent tell your landlord they are going to be losing a ton of business to buildings that do accept this program. Insurent will quickly become part of the renter's vernacular in NYC.

HAPPY HUNTING.



The Insurent® Lease Guaranty Program has made its way on to ten major NYC rental websites. The program has helped thousands of renters who can’t otherwise qualify.

The program is underwritten and issued by Argonaut Insurance Company, an A-rated property and casualty insurance company. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may pay a fee to utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.

The program was created to assist landlords, condo/co-op owners, renters and brokers in closing residential leases. Its role as the “institutional mommy and daddy” allows leases to quickly and easily close to the benefit of all parties that otherwise would not close without Insurent.

According to a statement from the company, owners win because they don’t have any risk. Renters win because Insurent’s criteria into their program is easier than many landlords’, with many tenants qualifying for an apartment within 24 hours of applying.

This month, NYC rental review site Rentenna.com integrated a new search feature based on whether a landlord accepts the Insurent Lease Guaranty. 

“We at Rentenna support the Insurent Guarantor Program because there is no other service like it in the New York City area and it is desperately needed,” says a company spokesperson. “The strict criteria that landlords impose on renters such as making 40-45x their monthly rent is ludicrous and what they ask of your potential guarantor (usually a parent/sibling) is more paperwork than adopting a child. For a fee less than a broker, they will act as your institutional guarantor. Owners win because they don’t have any risk. If you default, Insurent pays. You win because Insurent’s criteria into their program is A LOT easier than a landlords and you can quickly get your dream apartment within 24 hours of applying.”

Insurent has quickly become a vital part of the NYC rental vernacular as it is the only guarantor service in the U.S., and is now accepted by over 150,000 apartments in NYC.

The guarantor service helps foreigners, students, young professionals, retirees, and wealthy individuals qualify for their NYC apartment rental. Insurent.com is now incorporated into Streeteasy.com, Rentenna.com, Urbanedgeny.com, Urbansherpa.com, Brickunderground.com, HowToRentinNYC.com, Trulia.com, RDNY.com, Calibernyc.com, and Rent.com.

The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly, and Multi-Housing News.

With AAOA, landlords have resources at their fingertips. Check out our Landlord Forms page.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

From Rentenna:

"We at Rentenna support the Insurent Guarantor Program because there is no other service like it in the New York City area and it is desperately needed. The strict criteria that landlords impose on renters such as making 40x their monthly rent is ludicrous and what they ask of your potential guarantor (usually a parent/sibling) is more paperwork than adopting a child. For a fee less than a broker, they will act as your institutional guarantor. Owners win because they don’t have any risk.  If you default, Insurent pays. You win because Insurent’s criteria into their program is A LOT easier than a landlords and you can quickly get your dream apartment within 24 hours of applying."

From HowToRentinNYC.com:

"Insurent Lease Guaranty is the first and only institutional guarantor of residential leases. What is a guarantor? A guarantor is the cosigner on your lease when you do not meet the qualifications the landlord requires of you on your own. A standard requirement for NYC landlords is that you make 40-50 x the rent. So if you are renting a $2000 studio you need to make $90,000. It is also a requirement that you have "good" standing credit and a solid work history. Landlords want to know how YOU plan on paying the rent and if you can muster to fit into their requirements you will need a guarantor and most of the time that guarantor has to be in the tri-state area. This is because if you default and they have to come after your aunt Jim who cosigned your lease it is much easier to come after them legally if they are local. Also Uncle Jim as a guarantor is required by most landlords to make 80 x your rent so now the requirement becomes $180,000+ income which obviously in this economy is rare.

This is where Insurent Lease Guaranty comes in. They will act as your co-singer/guarantor if you make 27.5 x the rent and not 45. That same $2,000 studio now requires you only make $55,000 or if you have a roommate and your portion of the rent is $1500 that requirement becomes $41,250. They will accept you if you are a new hire, retired, or are from outside the United States. For retirees you have to show significant cash assets but you don't have to pay 6-12 months up front to the landlord now you just pay the Insurent fee and you can pay your rent monthly. If you do not make 27.5 x the rent and are in school Insurent will also guarantee your Uncle Jim, parents or whomever you can get to cosign the lease. Insurent's requirements are far less stringent and much less paperwork for them as well than that of the average NYC landlord."

From Brickunderground:

"Who can serve as a guarantor?

Most guarantors are parents, relatives, or friends. In many cases, landlords will require that your guarantor lives locally (within the Tri-state area). Some landlords may allow you to have a separate guarantor for each roommate signing the lease, but this isn’t always the case so if this is important to you, make sure to square away these details beforehand. If a personal contact isn’t an option, and your problem has more to do with lack of credit than bad credit, a service called Insurent will step in and act as a guarantor for a fee."

I closed 14 additional deals this year alone because Insurent was the best option for my clients acting as their Guarantor.

New York, NY (PRWEB) December, 2011

As noted in an excellent recent profile in NY Rentals Examiner, Joseph Haddad of Caliber Associates is a very effective and successful residential rental broker. Based on Joseph Haddad’s accomplishments, Insurent announces that Joseph Haddad is the winner of the Insurent Broker of the Year 2011 Award.

Mr. Haddad only entered the residential rental field about 3 years ago, but he is now SVP of Caliber Associates and has already done over 200 leases in the last 3 years. Joseph Haddad only learned about the Insurent NYC Guarantor Program in December 2010, and as of early December 2011 he had already closed 14 leases this year by using Insurent.

Like many brokers, Joseph frequently encounters situations where his client can afford to pay the rent and wants the apartment, but the client is unable to qualify for any of the following reasons: the client does not have US credit, has income slightly less than the 40-45x the monthly rent, has significant cash assets at banks or in stocks but is not working, does not have a qualified guarantor, is retired, or is a international or US student. 

According to Haddad, " I closed 14 additional deals this year alone because Insurent was the best option for my clients acting as their Guarantor.”

Charles Schoenau, Managing Director of Insurent, commented, “We have a number of excellent brokers using Insurent every day to close leases, but Joseph Haddad is an exceptionally skilled practitioner. He never seems to fail his client when encountering a roadblock to qualify for the apartment, and he recognizes quickly how to resolve the issue to the satisfaction of his client and the owner/building manager. In our view, Joseph is a great role model for brokers in many respects. We are very proud to name Joseph Haddad as the Insurent Broker of the Year 2011.”

ABOUT INSURENT

The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly, and Multi-Housing News.

The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.