Insurent Adds National Owners and Property Management Companies in 2013
New York, NY (PRWEB) July 31, 2013 -- In 2013, the Insurent Lease Guaranty Program has rapidly expanded its owner base by adding hundreds of more buildings and now has hundreds of different owners and property management companies utilizing Insurent to close more leases and to accommodate the expanding pool of renters coming to New York and New Jersey for apartments. Over 225,000 units now accept the Insurent Lease Guaranty Program.
Insurent has added a number of major multifamily owners and property managers including Equity Residential, UDR, Bozzuto and Waterton Residential. At the same time, Insurent is adding many medium size owners and property managers like BCB Properties, Prospect Management, Liberty Place Management, and South Side Associates who operate large numbers of buildings in many different neighborhoods throughout the boroughs of New York City.
Many new luxury developments, like Gotham West, the Dylan, 101 Bedford, the Revere and the Williamsburg continue the custom of using Insurent to assist and accelerate the lease-up of new buildings. Over the last 4 years, Insurent has been used, and still is, by almost all the new developments in New York including Silver Towers, New York by Gehry, The Beatrice, Emerald Green, The Aire, the Corner, etc.
The changing composition of renters coming to New York metro area almost necessitates the using of Insurent. In the last five years, multifamily owners are seeing a much larger pool of foreign professionals without US Credit history, international and domestic students, retirees, tech consultants, self-employed individuals, and young professionals who in many cases cannot qualify to rent an apartment under the landlord's typical standards. By using Insurent, owners and property managers can readily accept these growing pools of renters without taking any risk and incurring no cost.
Charles Schoenau, Managing Director of Insurent, elaborated, “We are very pleased with the accelerating pace of owners and property managers adopting Insurent throughout New York City and New Jersey which reflects the increasing utility and bottom line benefits which Insurent affords multifamily owners. With the increasing numbers of internationals, retirees, students, talented self-employed people, and young professionals without guarantors, Insurent will provide vital benefits and utility to both owners and renters.”
The Insurent Lease Guaranty Program was created to serve renters, landlords, condo/coop owners, and brokers and relocation specialists by offering the first institutional guarantor of residential leases. It is now accepted in Washington D.C., Maryland, Virginia, Illinois, New Jersey, Massachusetts and New York. The Insurent Lease Guaranty Program has been featured in the New York Times, The Real Deal, The New York Real Estate Journal, Real Estate Weekly and Multi-Housing News.
The Insurent Lease Guaranty Program is underwritten and issued by Argonaut Insurance Company, a property and casualty insurance company rated A (Excellent) by A. M. Best. Instead of looking for an individual guarantor or co-signer, or having to pay a significantly larger security deposit or prepaid rent, a renter may utilize the Insurent Lease Guaranty to satisfy the landlord’s financial and credit requirements.
Jeffrey Geller, Insurent Agency Corporation, http://Insurent.com, 646-843-1712, [email protected]
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