Q: What is a guarantor in NYC rental agreements? What if I don’t have one?
Posted by u/LeaseLogicNYC • 1 hour ago
- Use a third-party guarantor service like Insurent, The Guarantors, or Rhino. They charge a one-time fee (5–10% of annual rent) and are accepted by thousands of NYC landlords.
- Offer additional security such as paying 3–6 months upfront if legally allowed. This can show financial responsibility, especially if you're a student or self-employed.
- Look for no-guarantor-required buildings or smaller landlords who are open to negotiation. Estay's filters can help you locate these units faster.
- Provide strong alternative documentation: visa/I-20, proof of scholarship or job offer, and liquid assets (e.g. bank statement with ≥6 months' rent).
I'm an international grad student moving to NYC, and many listings say “guarantor required.”
What exactly is a guarantor, why do landlords ask for one, and what are my options if I don’t have a US-based relative or friend willing to help?
Are there legit alternatives that don’t cost a fortune or put me at risk?
Top Answer by Estay
Estay Housing Consultant | Helped 200+ tenants lease NYC apartments without a traditional guarantor
In NYC, a guarantor (sometimes called a co-signer) is someone who legally agrees to pay your rent if you can’t. They act as a financial backup to reassure the landlord you’re a safe bet. Landlords typically require this if your income is below 40× monthly rent or if you have limited credit history.
Who Qualifies as a Guarantor?
Usually, a guarantor must be a U.S.-based individual (often in NY, NJ, or CT) with a strong credit score (700+) and annual income at least 80× the rent. Parents, older siblings, or close family friends are common. They sign a separate section of your lease and are financially liable if you default.
What If I Don’t Have One?
If you can’t find a qualified guarantor, don’t panic—there are several solid workarounds:
Are Guarantor Services Safe?
Yes—as long as they’re legit and licensed. Insurent and The Guarantors are two of the most widely accepted in NYC, and many landlords now list their eligibility on the building’s listing page. Review their coverage terms carefully—some limit you to leases under $5,000/month.
✨ Summary: Know Your Options
- A guarantor backs you financially if your profile doesn't meet strict landlord criteria
- Without one, try a third-party service or prepay several months
- Always check if the building explicitly allows corporate guarantors
- Estay can help you identify properties with flexible income and credit requirements
Pro Tip: Some international banks offer local U.S. accounts with letter-of-funds—ask your bank if that helps strengthen your case.
Bottom line: Not having a guarantor isn’t a deal-breaker—it just means choosing the right path and communicating clearly. Estay’s rental advisors specialize in non-traditional lease approvals and will walk you through every step.
Updated weekly • Based on 2025 NYC landlord approval trends