Get peace of mind with lease guarantees designed to keep you up to date on your rent if you involuntarily lose your job. We pay rent directly to the landlord so you can stay in your home and focus on getting back on your feet.
Pensio's affordable and ground-breaking rental Lease Co-Guarantee is backed by an insured Rental Income Performance Bond that assures the rent will be paid each month if you lose your job. It's also commonly referred to as a Rent Guarantee Program.
The Lease Co-Guarantee Is Ideal for:
- Single family residential tenants
- Multi-family residential tenants
- Student rentals
Tenants that Qualify:
- Are new or existing tenants
- Have involuntarily lost their unemployment
- Have been approved for unemployment insurance
- Have worked a minimum of 24 weeks
How much is the Lease Co-Guarantee program fee?
3.5% of gross annual rent paid monthly. For example, if monthly rent is $1,200 (gross annual rent is $14,400) the monthly program fee is $42.
How can tenants register?
The tenant or landlord “rental property owner” can visit www.pensiotenants.com to register and complete the Know Your Client (KYC) disclosure. You must review the tenant job loss Lease Co-Guarantee Agreement.
How do I know if I qualify?
Qualified tenants have a legal and valid lease agreement and have qualified for state unemployment benefits. The tenant has a record of unemployment and/or a notice of unemployment directly provided by their former employer that: (i) indicates the cause of loss of employment; (ii) confirms the tenant has worked a minimum of an average of 24 hours per week for the past 26 weeks up to and including 30 days after registration into this program before involuntary job loss; and (iii) indicates the date of unemployment/dismissal. The tenant must remain unemployed and cannot pay their rent.
How is the rent paid?
We will pay up to 3 months rent directly to the landlord if the qualifying tenant remains unemployed and the landlord and tenant have emailed us a Notice of Pending Default for each month the tenant remains unemployed. Rent is only paid to the landlord.
Who is Pensio?
Learn more about our partnership with Pensio here.
Who can I contact if I want to learn more?
Contact Kishan Alexander at 646-767-1148 or email@example.com.
Is Rent Guarantee the same as Lease Co-Guarantee for tenants?
Yes, Rent Guarantee is another way to reference the Pension program of Co-Guarantee for tenants. It provides rent guarantee if you involuntarily lose your job.
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