773 676 9000

Use TheGuarantors!

Active in 43 states, TheGuarantors work at the intersection of real estate, finance, insurance and technology to develop innovative solutions that reduce risk and uncertainty in the leasing process when it comes to renting spaces.

In short, TheGuarantors partner with an insurance company who acts as a third party guarantor of all conditions of the residential lease including the payment of rent should a tenant default on any of the obligations contained in the lease.

Urban Abodes has successfully utilized the services of TheGuarantors countless times to guarantee a lease, where for one reason or another, an applicant falls minimally short of a landlord’s acceptance standards but otherwise qualifies for the apartment and is unable to procure a guarantor that was requested by the landlord.

Such applicants are usually students, foreign nationals, self-employed or really anyone that has an atypical or difficult to evaluate credit profile.

The insurance policy covers all missed rent (rent in arrears and rent going-forward) until the landlord finds a new tenant. TheGuarantors are currently being used extensively in Chicago by some of the largest and most respected private landlords and management companies.


How It Works

From a tenant’s perspective, the process is easy and effortless. The applicant fills out a questionnaire and submits the requested documents. TheGuarantors then evaluate the application and make a decision usually within 12-72 hours.

If TheGuarantors decides to write a policy for that applicant, the applicant will pay an insurance premium (an amount that is typically less than the monthly rent) to bind the policy, and a bond naming the landlord as a beneficiary will be issued.

Jean Marie Mangiola is the Chicago Representative for TheGuarantors. Should you have any questions, Jean Marie can be reached at 917/768-8824.