To qualify for TheGuarantors, you generally need annual household income of at least 27 times the monthly rent (or liquid assets of roughly 75 times the rent), a FICO score of about 630 or higher, and a lease at a building that participates in the company’s network. TheGuarantors then issues a surety bond or insurance policy promising the landlord that rent will be paid if you default, which lets you sign a lease you’d otherwise be denied.
Income and Credit Thresholds
The core financial test is income relative to rent. Applicants generally need annual household income of at least 27 times the monthly rent. If your income falls short, you can often still qualify by showing liquid assets — savings, investment accounts, or other accessible funds — totaling roughly 75 times the monthly rent. That asset path is what makes the service workable for retirees, students, and others with money in the bank but no steady paycheck.
Credit matters too, but the bar is lower than most landlords set on their own. Many landlords want a score of 700 or above; TheGuarantors has accepted applicants with FICO scores as low as 630. The check is a soft pull, so it does not affect your score and is not visible to other lenders. A weaker score may push your premium higher rather than trigger an outright denial.
If You Don’t Have Traditional Income
TheGuarantors specifically markets to people whose finances don’t look standard on paper. Self-employed workers, recent graduates, active job-seekers, international residents, and applicants with credit challenges can all be considered.
International applicants without a U.S. credit history are generally evaluated on foreign savings, proof of U.S. employment, or school enrollment documents rather than a domestic credit report. If you’re on a student visa, have your I-20 ready alongside your visa paperwork.
Self-employed applicants submit different proof of income. Instead of pay stubs, the review team may ask for bank statements, tax returns, or other financial records. Which documents you’ll need is decided case by case after you apply, so you don’t need to assemble everything in advance.
The Building Has to Participate
Finances are only half the eligibility question. TheGuarantors operates within a network of participating properties, and if your building isn’t in it, you cannot use the service there, no matter how strong your application would be.
The network does include a mix of large managed properties and independent landlords, so it’s worth checking rather than assuming. Search the company’s website or ask the leasing office before you spend time on an application. If the building isn’t enrolled, the landlord can sign up for free with no contract, but there’s no guarantee they will.
Roommates and Co-Applicants
If you’re signing a lease with roommates, every leaseholder has to submit a separate application and be approved individually. The coverage attaches to the lease, not to any one tenant. A roommate who will live in the apartment but isn’t named on the lease does not need to apply.
TheGuarantors issues one invoice per policy regardless of how many leaseholders are covered. Splitting that bill is up to you and your roommates; the company won’t divide the payment.
How to Apply and What to Upload
The application starts on TheGuarantors’ website with a short questionnaire and an upload of a government-issued photo ID such as a driver’s license or passport. International applicants should add visa documentation or the I-20 form.
Beyond the ID, the company takes a request-as-needed approach. The review team looks at your initial application and emails you if more is required. Common follow-up requests include:
- Recent pay stubs covering the last 30 to 60 days of employment
- An offer letter on company letterhead showing salary and start date, if you’re starting a new job
- The first two pages of your most recent Form 1040
- Bank statements showing liquid assets, especially if you’re qualifying on savings rather than current income
- Employment or school enrollment verification if you don’t have standard income documentation
Don’t upload anything beyond the government-issued ID unless the company asks for it. Unrequested paperwork won’t speed up the review and can complicate it.
Cost, Timing, and Payment
Pricing is personalized based on your monthly rent, the coverage the building requires, and your financial profile. The application is free, and you’ll receive a quote once it’s complete. The premium is paid upfront as a one-time, non-refundable payment. Some applicants may be offered installments, depending on the landlord’s preferences and the applicant’s credit profile.
Most applications get a response the same day, though it can take up to 24 hours. If documents are requested, the clock depends on how quickly you send them in. Once you’re approved and paid, TheGuarantors delivers a guarantee certificate electronically to the landlord or leasing office, and you’re cleared for move-in after any remaining building requirements are satisfied.
What Coverage You’re Actually Buying
TheGuarantors sells more than one product, and which one you need affects both qualifying and cost.
Rent Coverage
Rent coverage is the core product and the one that substitutes for a traditional guarantor or co-signer. It functions as a lease guarantee: the company promises the landlord that rent obligations will be met if you can’t pay. Some buildings bundle an optional security deposit alternative with it.
Deposit Coverage
Deposit coverage replaces the cash security deposit. You pay a one-time premium instead of handing a large deposit to the landlord, and the policy covers what a standard deposit would — damage, unpaid rent at move-out, unpaid utilities, and legal fees — up to the coverage limit. For most applicants, only a government-issued ID is needed to apply. Deposit coverage stays active for your entire tenancy at the same property and does not need to be renewed when you renew your lease.
If You Default, You Still Owe the Money
This is the part worth understanding before you sign anything. TheGuarantors is an insurance product that protects the landlord, not you. If you stop paying rent, the obligation doesn’t disappear. It moves.
Before filing a claim, the landlord has to attempt to collect from you directly — posting the balance to your account, demanding payment, and warning you that a claim is coming. If you still don’t pay and don’t leave, the landlord may pursue eviction or a monetary judgment against you.
Once TheGuarantors pays the landlord’s claim, the company steps into the landlord’s shoes through subrogation. Under the policy terms, the landlord irrevocably assigns all rights and remedies to the company to recover every dollar paid out. TheGuarantors can then come after you for the full amount through negotiation, a payment plan, or other collection efforts.
Deposit coverage works the same way. If the company pays the landlord for damage you caused, you are required to reimburse the insurer. Using TheGuarantors doesn’t reduce your financial responsibility as a tenant. It guarantees the landlord gets paid quickly while the company works to collect from you afterward.
Canceling and Renewing
Refunds depend entirely on where you are in the leasing process. If the lease was never signed and the landlord confirms that, you can cancel and get your premium back minus a $100 cancellation fee. If the lease was signed but you haven’t moved in, cancellation requires the landlord to fully void the lease, waive your financial liability, and confirm both in writing to TheGuarantors; you then get the premium back minus the $100 fee. Once you’ve moved in, you cannot cancel or receive a refund, even with the landlord’s consent. Breaking a lease early also does not qualify for a refund. To start a cancellation, text SUPPORT at +1 929-556-6810 with “Cancel my application.”
Rent coverage lasts for a single lease term. When your lease expires, so does your coverage. If you renew and still don’t meet the building’s requirements on your own, you’ll need a new policy. Many buildings require tenants who originally qualified through TheGuarantors to carry coverage on renewal, but requirements vary by property, so confirm with your leasing office. Deposit coverage, again, carries over without a new purchase.