After your policy is approved and your building provides us with your lease details, we will send you an invoice.
This invoice covers the fee (premium) for your policy with TheGuarantors, which may include one or both of the following depending on your building’s requirements:
- Rent Coverage: to help you qualify for a lease
- Deposit Coverage: to replace a traditional security deposit and reduce your move-in costs.
The premium is a one-time, non-refundable fee to purchase one policy. It does not include any rent or costs owed to the building; it is only for the cost of TheGuarantors coverage.
Please note that your landlord may require you to purchase another policy upon renewing your lease.
Where do I go to pay my invoice?
Once your application has been approved and we have received your lease details from the building, we will send you an invoice for the cost of your policy with TheGuarantors.
Customers will generally receive an invoice within 24 to 48 hours of approval, depending on when we hear back from your building.
The email containing your invoice will be titled ‘Your Rent Coverage Invoice.' Please use the link in this email to complete your payment.
Can I get a quote for the cost of my coverage?
The cost of your policy will vary depending on your application and lease details, so we cannot provide a quote until your application is approved and your lease details are confirmed. The cost of our products is generally as follows:
Rent Coverage: For a 12 month lease, between 40% to slightly more than one month's rent
Deposit Coverage: between 25%-50% of one month's rent
Still have questions?
If you did not find the answer to your question in this article, there are a number of other articles with more information about our pricing and payments: