Prior to signing and paying for your policy, you can cancel any time. After signing, 3 conditions must be met for a refund.
How do I cancel my application for Rent or Deposit Coverage?
Prior to signing and paying for your policy, you can cancel your application at any time. To cancel, text SUPPORT to +1 929-556-6810,* then type "Cancel my application."
After you have signed and paid for your policy, the following requirements must be fulfilled to cancel your policy:
- The landlord agrees to fully cancel and nullify the lease; and
- The landlord has waived all of the renter's financial liability; and
- The landlord confirms this to us in writing
To cancel your policy, please ask your building’s leasing or management team to email us confirmation of the above. Once we have received the necessary information from the landlord, we will cancel your policy and notify you via email.
Provided that you have not moved in and do not owe a balance to the landlord, our Billing team will email you to initiate the refund process after your policy is cancelled.
Will I receive a refund after the policy is cancelled?
Rent Coverage is used to help renters qualify for apartments. If you do not sign the lease with the landlord after being approved by TheGuarantors, the premium is refundable.
If you have already moved in or taken possession of the apartment, or you owe a balance to the landlord, we are unable to refund the premium. Renters are not eligible for a refund following a lease break or lease termination.
If your invoice included collateral, the collateral portion of the invoice is refundable in the event of a cancellation, provided that you do not owe a balance to the landlord.
Is there a cancellation fee?
Prior to signing our contract and finalizing the policy, you are eligible for a full refund upon canceling your application.
If you cancel your policy after you have signed and paid, a $100 cancellation fee will be deducted and the remaining payment will be refunded, provided that you have not taken possession of the unit and do not owe a balance to the landlord.
My application or policy was canceled. How can I check on the status of my refund?
If you are eligible for a refund, our billing team will email you to initiate the refund once the cancellation is finalized. Once you have confirmed your preferred refund method, please allow up to 10 business days for the funds to reach your account.
If you have any questions on the status of a pending refund, contact underwriting@theguarantors.com.
Do renters get the policy premium back at the end of their lease?
No. Policy premiums for Rent and Deposit Coverage are NOT returned when the lease ends.
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