TheGuarantors is a financial service company, based out of New York, NY who states their mission is to provide increase affordability and accessibility for renters who have face barriers to entry–into the housing of their dreams.
Through it’s process, landlords may deny a prospective tenant due to credit history–that otherwise qualifies by income–to submit an application to TheGuarantors for review to be your “guarantor”. A guarantor is a person or company, such as TheGuarantors, that secure commitment if you as the tenant default on your lease or cause damages, they will pay on your behalf. Due to a theory that prospective tenants with bad credit is high risk, TheGuarantors charge high premiums that the prospective tenant must pay, upon approval. These premiums range from one to three months of rent. So ideally, if the dream housing monthly is rent $1,500, TheGuarantors could require a $3,000 deposit–in which they won’t refund at the end of your lease… Not even if you don’t default on your lease.
TheGuarantors have a 4.6 rating on Google, but in perspective, there are common complaints of poor communication, high and unreasonable (and non-refundable) deposits, poor claim handling (as TheGuarantors pay out any claim, without any investigation), and forceful in their claim recovery efforts (some tenants have complained that the company threaten them to pay a certain amount a month or send them to collections). There are countless of reviews and Better Bureau complaints that support using TheGuarantors is risky. But they imply you are the true risk. Take heed.
Hear the Headaches
“I recently had an experience with The Guarantors, and I must say I’m quite disappointed. It seems that this company has a near-monopoly in the industry, which raises serious concerns about pricing fairness and competition. The fees they charge appear to be arbitrary and lack any transparent basis, leading to what feels like significant overcharging for their services.
Moreover, the benefits they offer are not clearly defined, making it difficult to understand what exactly you are paying for. I expected more clarity and value from a company in this space, but unfortunately, that was not my experience. If you’re considering using their services, I recommend carefully weighing your options, as there may be more transparent and cost-effective alternatives available.”
“If I could leave This company zero stars,I would. Their services is nothing more than an expensive money grab designed to double-dip tenants while benefiting landlords and property management companies. They advertise coverage 2x or 3x your rent, but in reality, that’s just the maximum amount they’ll lend you – essentially turning their insurance into a loan with strings attached. There are plenty reliable insurance options out there that actually serve renters fairly. Save yourself the hassle and look elsewhere for coverage.”
“This is some kind of scam. I moved into my apartment a year ago that uses the guarantor and was charged nearly a months rent instead of security deposit I really liked the apartment so I dealt with it knowing that I wouldn’t get it back. A year goes by and I’ve never been late on my rent, have my own rental insurance and have never had any damages to the apartment. I go to renew my lease for a second year and here come the Guarantors wanting another $1000.00. Apparently every year no matter what they want more money that I’ll never see again. I’ll pay a security deposit that is refunded any day over having to pay them every year additional money for what? Thank God for great property management saying I can stay without paying these scammers money that they just get to pocket if you’re a good renters like me”
Hear My Headache
I formally used TheGurantors, and all the common complaints about this company are true. They paid out over $4,000 to Elme Eagles Landing in Stockbridge, GA for unsupported damages and unentitled rent that falsely submitted a claim–money in which they will use to upgrade the apartment (as the apartment was very outdated, although it was in a beautiful middle-class area). I submitted all my supports of the fraudulent charges that the complex submitted, but according to theGuarantors, my voice is irrelevant. My voice is very relevant, and it will be heard.
Save Yourself the Headache
Financial times continue to evolve even worser, as food, vehicle, insurance, and rent increase higher and higher. We can only do what we can do to survive, each and every day; sometimes even compromising, to the point of all work and no play. Considering all the headaches that life present throughout our life, the last headache you want is that of theGuarantors.
Above all, I wish you all prosperity and comfort in your life, as you propel in your life.
Keandre Curry 
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