BROKEN LEASE RENTER RESOURCES

Renting After a Broken Lease With a Third Party Guarantor

Thinking about a guarantor company after a broken lease? We look for communities that take one. Here's what it usually costs and what you still owe under the lease.

We check each community’s rules first

Some communities take a guarantor company or a similar program when your application needs extra backing. A past broken lease, unpaid balance or eviction can still affect the decision. We call communities, ask what they accept and keep track of which ones take a guarantor. You don't have to call around.

What the payment covers

The fee pays for the coverage in your agreement. That coverage protects the community. It’s separate from monthly rent, and it isn’t a refundable deposit. Your contract decides whether it covers lost rent if you later break the lease, get evicted or move out. You still have to follow the lease.

What OneApp, Liberty Rent and TheGuarantors usually cost

Most communities we work with want income of about 3 times the rent. Some go down to 2.5 times when a guarantor company backs the lease. A guarantor company usually costs about one month’s rent. Refund rules differ. OneApp refunds its fee if you don’t move in. TheGuarantors refunds before move in only if the landlord confirms in writing that the lease was canceled or never signed, and it keeps $100. Liberty Rent doesn’t post a refund rule for its access fee, so ask before you pay. Read our Texas comparison of OneApp, Liberty Rent and TheGuarantors and check your own quote first.