An apartment is one of the best places to stay and reside in. This is because of its small and convenient space that is just right for a bachelor or a student. Apartments, especially in the city, are quite costly. With this, you would need the help of a lease guarantor in order to make sure that you get the money you want for your apartment. Although some offer a no guarantor apartment, majority of owners are amenable to a rent guarantor.
What are Lease Guarantors?
Lease guarantors are somewhat your representatives and are the ones who pay for the lease on your behalf. These lease guarantors do not have to reside in an apartment, but they are the ones who pay for the lease of the apartment.
For students, their parents can act as their guarantor to pay for the lease, given that their parents or guardian has a stable financial record. For those who are not students, there are other means of finding a guarantor of lease, by asking friends and other people close to you with financial stability, to be the guarantor. However, for those who really cannot find a lease guarantor, one can opt to get a guarantor company.
What are Guarantor Companies?
Guarantor companies are companies that can act as your guarantor for apartment rentals, if nobody else would agree to do so. These guarantors can serve as your rent guarantor, if you pass their requirements and must not have a criminal record or does not have many outstanding debts. Though guarantor companies are useful, they have their own advantages and disadvantages.
Advantages of Guarantor Companies
Guarantor companies are relatively easier than an apartment guarantor is because it has lesser standards. This means that you can be approved even if you have a poor credit record. Another advantage is that you do not have to worry about paying the rent on time, because the guarantors are sure to pay the lease to the owner on your behalf.
Disadvantages of Guarantor Companies
One must exercise caution in choosing a company. Some guarantor companies are not safe, which means that although they are a good alternative as a lease guarantor, some of them may be frauds and may not pay for your lease or may be assuming a fraudulent identity. This is why in order to make sure that the guarantor company is legitimate; one must do a thorough research on the company background and find out if they offer legal services as well.
Owning an apartment is good especially when it is your own space. However, apartment owners nowadays are meticulous when it comes to accepting tenants because they want to make sure that tenants pay the rent on time. This is the reason why people look for lease guarantors in order to assure the apartment owners that there is nothing to worry about, when it comes to payment schedules. These professionals make it a business to help other people have a decent space to rent. They serve as your guardian angels in renting a home.