Each month, TheGuarantors will email your lease renewal team a list of mutual tenants whose policies will end in the next few months.
This email has the subject “TheGuarantors Renewals Update” and the list of tenants with expiring coverage will be attached.
Do I need to do anything when I get this email?
We ask that you respond to the email to confirm which of your tenants will be renewing and which will be vacating, which we use to determine which policies must be renewed. You can learn more about how to notify us of a renewing tenant here.
In your reply, please also include the new lease details for your renewing tenants using the template provided in the body of the email.
Can I use this email to check the status of my tenants’ renewal bonds?
Yes, the status of each renewal bond is located under “TheGuarantors Renewal Status” in the spreadsheet attached to the email.
See below for an explanation of each status type:
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Policy renewed - The renter has signed and paid, and coverage has been issued for the renewal lease.
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Approved - Need to sign and pay - We are missing a signature and/or payment from the renter to finalize the renewal policy.
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Not yet approved - The renter has not yet been approved for renewal coverage.
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Not eligible to renew - The renter does not meet TheGuarantors’ approval requirements and cannot be approved for renewal coverage.
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Not eligible to renew until balance is paid in full - The renter owes a balance to the building and cannot renew their coverage until they have paid off the balance. Please email leasing@theguarantors.com if the renter is now in good standing.
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Landlord confirmed LG not required for lease renewal, renter needs to renew SDR - The building has confirmed that the renter is renewing the lease and no longer requires Rent Coverage but still requires Deposit Coverage. The renter has not yet been approved for renewal coverage.
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Landlord confirmed LG not required for lease renewal - The building has confirmed that the renter is renewing the lease and will not require coverage for the renewal lease.
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Previous policy provides coverage for renewal - The renter’s last Deposit Coverage policy will continue to cover the renewal lease. The policy does not need to be renewed unless the building would like to increase the coverage amount.
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This email isn’t useful for me. Can I opt out of these Renewal Update emails?
Yes, you can reply to the email and ask to be opted out of the Renewal Update emails.
Please note that this email will be your only reminder that a policy will expire in the near future. If you decide to opt out, please continue to notify us when a tenant decides to renew to avoid any lapses in coverage.