Home rental rates across the US are soaring. On average, rent went up by over 10% in a single year between 2021 and 2022, while in some cities that increase is as much as 40%. Renters are now struggling more than ever to qualify for homes and afford security deposits, which also impacts landlords who lack security.
TheGuarantors, which is a licensed insurance agent and broker bridges this gap by acting as a co-signer, then offering to cover and underwrite security deposits if necessary in exchange for a percentage fee of the monthly rent.
There’s been a lot of movement in the rental startups space of late, with venture capital being poured into companies like rent-to-own Divvy and rent now, pay later startup Jetty.
TheGuarantors, however, has seen immense user uptake on its platform and has won the capital backing of Portage Venture, which it intends to use to scale both its product offering and staff headcount. This, plus B Corp certification awarded in 2024, will help TheGuarantors expand its market visibility.
Steph
Company Specialist at Welcome to the Jungle