The Insurent Lease Guaranty Program announced a business milestone that has seen the company expand to cover 400,000 apartments representing over 3,500 buildings across seven states.
Jeffrey Geller, Insurent’s chief operating officer, said the company added over 1,000 buildings to its roster during 2016 and growth continues at a record pace.
The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/co-op owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases.
Owners and renters are able to close many more leases quickly, which might not otherwise close because of Insurent’s ability to guarantee a wide range of renters, including college and professional graduates entering the workforce, non-US persons, self-employed persons, international and US students and retirees, all who are in need of a guarantor.
While expanding across New York and New Jersey as well as Massachusetts, Maryland, Virginia, Illinois and Washington DC, Insurent is now involved in the lease-up in a record number of new developments.
Charles Schoenau, managing director of Insurent said, “Insurent enables the developer to lease up the building faster by increasing the pool of qualified renters, quickly closing more leases for owners and renters, thereby increasing the occupancy and cash flow for the developer.
“As a result of our continuing expansion in other metro areas, we are now assisting new developments in Massachusetts, Maryland, and DC as well as in New Jersey and New York City.”
2017 represents Insurent 10th year of guaranteeing residential leases. Insurent created the residential lease guaranty space in 2008.