Lease Co-Guarantee for Landlords

Program fees are 4% of the annual gross rent if prepaid annually (if paid monthly, program fees are 4.5%).

Review the Lease Co-Guarantee agreement (we guarantee existing and new tenants) You can register an unlimited number of rental properties, but you have to register all rental properties located at the same municipal address. Once you register, you pay the annual program fee (you have an option to pay the program fee monthly).

When your tenant(s) defaults on rent send us a Pensio Notice of Default and we will pay the defaulted rent amount within 30 days of notice to us. You then must serve a Notice of Eviction within the first 30 days, and if you do, we will continue to pay you defaulted rent until the tenant has vacated or abandoned the property. The maximum loss of rent we will pay for a property for any one tenant is $60,000.

The maximum loss of rent we will pay for a property for any one tenant is $60,000.

If your legal tenants caused malicious damage to your property and you have successfully secured a judgement from a court ordering the tenant to pay for malicious tenant damages and if the tenant does not pay the order, send us a Notice of Default and we will pay the unpaid malicious damage order within 30 days of notice to us.

We do not pay malicious tenant damage orders that are $1,000 or less. The maximum malicious damage order we will pay is $10,000. We do not pay the first $1,000.

If you serve a Notice of Eviction to a defaulting tenant within the first 30 days of a default we will reimburse you up to $1,500 in third party legal expenses, service fees, and court fees if you have been successful in your eviction of the tenant within 120 days of the tenants default of rent and/or default of a malicious tenant damage court order.

Learn more about our partnership with Pensio here.

Contact Kishan Alexander at 646-767-1148 or kishanalexander@worldinsurance.com.