Updated over 6 years ago on . Most recent reply
Using HelloRented as Guarantor
Hi BiggerPockets. I'm in the midst of exploring using a service called HelloRented (https://www.hellorented.com/) to be a guarantor as I take on 1-2 leases on apartments in NYC. Do any of you have experience with them? They provide the following services:
1. Will serve as guarantor in exchange for ~1 month of rent and will have their guarentee backed by insurance company in case of default
2. Will provide security deposit for monthly fee
Let me know your thoughts on this and whether it's worth doing? I recently left my job to work full time on my own start up so providing bank statements / consistent income is a challenge. Goal is to find a 2-3 bedroom and airbnb out 1 or 2 rooms to cover all or majority of total rent while I'm bootstrapping. I'm new to this space so just trying to learn as much as possible as well and as I have more liquidity make some more significant estate investments
Thank you!