Finding the right rental can feel like a victory—until you’re asked for a co-signer. Whether you’re a student, freelancer, or someone rebuilding your credit, landlords often want the added security of a financially stable guarantor. But what if asking your parents isn’t an option?
Good news: there are modern, professional solutions. In this post, we’ll walk you through how to approach someone for co-signing, and introduce third-party guarantor companies like Insurent and TheGuarantors that can help you secure a lease—no family required.
What Is a Co-Signer, and Why Do You Need One?
A co-signer (or guarantor) is someone who agrees to pay your rent if you can’t. Landlords require co-signers when an applicant lacks strong credit, consistent income, or rental history. Co-signers typically have:
- Good credit (usually 700+)
- Steady, verifiable income (often 40–80x monthly rent)
- Low debt-to-income ratio
This gives landlords peace of mind—but it puts a lot of risk on the co-signer. That’s why asking someone to co-sign can be tricky.
If You’re Asking Someone You Know…
If you plan to approach a friend, relative, or trusted colleague to co-sign, here are some respectful ways to do it:
1. Be Upfront and Honest
Explain why you need a co-signer and what it means legally. Let them know:
- It won’t affect their credit unless you default.
- They won’t have to pay anything if you make your payments on time.
- If you miss a payment, the landlord can come after them.
2. Provide Your Financial Info
Give them a snapshot of your current income, expenses, and rental history to show responsibility.
3. Offer Reassurance
Create a written plan: for example, “I’ll show you each month’s rent payment receipt” or “I’ll keep six months of rent in savings.”
4. Make an Exit Plan
Tell them how long you’ll need the co-signer—just this lease, or until you build enough credit to go solo.
Even with these steps, some people will be uncomfortable with the risk. That’s where guarantor companies come in.
What Are Guarantor Services?
Guarantor services are third-party companies that professionally co-sign your lease for a fee. They’re ideal for:
- International renters
- Recent grads
- Freelancers or gig workers
- People with thin or damaged credit
These services are now widely accepted by landlords, especially in large rental markets like New York, Los Angeles, and Chicago.
Let’s break down two of the most popular companies:
Option 1: Insurent
Insurent is one of the oldest and most recognized lease guaranty services in the U.S. It partners with thousands of buildings and landlords.
How It Works:
1. You apply online and provide documentation (ID, pay stubs, tax returns, etc.).
2. Insurent evaluates your risk and gives you a quote.
3. If approved, they guarantee your lease to the landlord.
Who Qualifies:
U.S. renters earning as little as 27.5x the monthly rent (instead of 40x).
International renters with no U.S. credit history.
Roommates can apply jointly.
Cost: (At the time of this Article)
Typically 60% to 90% of one month’s rent for a 12-month lease.
Example: If rent is $2,000/month, expect to pay $1,200–$1,800 as a one-time fee.
Renewal fee for subsequent years is lower (usually 50% of original cost).
Speed:
Approval often within 24 hours.
Accepted Areas:
Heavily used in New York, Boston, Chicago, Washington DC, and growing into other metro areas.
Option 2: TheGuarantors
TheGuarantors provides lease guarantees as well as security deposit insurance and renters insurance—making them a one-stop shop for many renters.
How It Works:
1. Apply online with proof of income, employment, and identity.
2. Get approval and pay your fee.
3. They issue a guarantee to your landlord.
Who Qualifies:
U.S. and international renters
Individuals with non-traditional income sources
Recent grads with job offer letters
Cost: (At the time of this Article)
Typically 35% to 85% of one month’s rent for the year.
Example: $2,000 rent = $700–$1,700 one-time fee.
Discounts may apply for multi-year coverage.
Extras:
Deposit Replacement: Instead of a large cash deposit, pay a small monthly fee.
Flexible Credit Scoring: Accepts renters who don’t meet traditional criteria.
Speed:
Fast application, usually 1 business day or less.
Accepted Areas:
Nationwide, with growing landlord partnerships.
Pros and Cons of Using a Guarantor Company
| Pros | Cons |
| Avoid awkward convos with family | One-time fee can be expensive |
| Fast approvals, even with low credit | Not every landlord accepts them |
| Professional service, no personal liability | Fee is non-refundable |
| Ideal for students, freelancers, internationals | Adds another step to the lease process |
Tips before applying…
Check if the Landlord accepts guarantor services: Ask upfront if they work with Insurent or TheGuarantors, or other providers.
- Compare quotes: Each company uses different underwriting, so apply to both if possible to compare rates.
- Read the fine print: Make sure you understand the length of the guarantee, renewal fees, and your responsibilities.
- Have documents ready: Typical requirements include ID, income verification, proof of employment, and sometimes bank statements.
Final Thoughts
Getting a co-signer doesn’t have to mean guilt-tripping your parents or awkwardly asking a friend. Thanks to services like Insurent and TheGuarantors, renters now have professional options that make securing a lease simpler, faster, and more independent.
As rental markets evolve, so do the tools available to help renters succeed. At GoodHome, we believe in transparency and empowerment—and knowing your co-signing options is one more way to protect yourself and make informed decisions in your housing journey.
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