# 5- Being a guarantor on a lease with multiple roommates.
Your daughter has just found a great apartment with her 2 college friends, all who have job acceptance letters or just started their jobs with total incomes of $140,000. The monthly rent is $5,000 normally requiring the three renters to normally have a collective annual income of a minimum of $225,000 or an individual guarantor having an annual income of $400,000 (80x the monthly rent).
SOLUTION: Insurent Lease Guarantor Service
Insurent can provide the guaranty if your daughter and roommates have decent/good credit and collective annual income of a minimum of $138,000. The Insurent Guaranty fee in total will approximate 75% – 80% of one month’s rent (or less than 1/3 of one month’s rent each), and the other three renters can qualify on their own.
If your child isn’t fortunate enough to make that type of income yet and still doesn’t qualify you can take the place on the Insurent Lease Guaranty but will only be held legally responsible for your child and not the roommates.