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Insurent Helps First-Time Renters Get Decent Apartments

Adventure and possibility push new grads to move to a new city and many (including yours truly) do so with low entry-level salary offers in hand. While you're sure of your ability to pay monthly rent and are willing to fork over a high percentage of your salary, searching for an apartment without a certain level of income can be an incredibly frustrating process.

Many landlords require a renter's income to be as much as 45 times monthly rent, so new grads without that pedigree might find themselves as I did: moving in to a tiny apartment in a walk-up building with steep stairs, a blocked fire escape, windows that didn't fully close, and a charming water heater taking up half the closet-sized kitchen. Find out how one company is helping new grads and relocated international workers when you


Insurent is a new company that basically insures the rent on a unit when a landlord's requirements block an apartment hunter from being considered. Renters pay a fee for the service as with any other type of insurance, and a background check is done before eligibility is granted.

Similar to landlords, Insurent requires identification, employment verification, and a credit score higher than 630. But where landlords may pass over an applicant whose rent isn't about 45 times monthly rent ($90,000 for a $2,000 place), Insurent extends its service to applicants who make 27 and a half times their monthly rent ($55,000 for a $2,000 place).

The company is targeting new grads with job offers and professionals relocating to the US without American credit history. Depending on credit score, Insurent's fee can be from 58 to 110 percent of monthly rent. It can be a hefty price to pay to get a secure roof over your head, but so far 35 renters have their rent guaranteed by the company.


Join The Conversation
Marni7 Marni7 8 years
wow 45 times the rent is insane! My college roomate and I got VERRRRY lucky. After college (2 years ago) we moved into or first apartment in the most amazing neighborhood for a very decent price. Pure luck I think
looseseal looseseal 8 years
Please tell me this means 45 times monthly rent to ANNUAL income? It's a rarified few who makes 45 times their monthly rent on their monthly income. Even at my most incredibly great financial time (well paying work plus nice place with low rent), I only made 10 times my rent (counting both at a MONTHLY rate). At most other times (so-so work, rent not especially cheap), my monthly salary would be more like 3 times my monthly rent.
tee0206 tee0206 8 years
45 times monthly rent?! That's horrible! My Austin apartment just required that we made at least 4 times as much as the rent, or else a cosigner was necessary.
Bksuga Bksuga 8 years
lol, its true though in nyc they want you too make like 30 times the rent..And to get a decent apt its aleast 1000 to 1500, depending on the borough.
carhornsinapril carhornsinapril 8 years
"Many landlords require a renter's income to be as much as 45 times monthly rent" HA. that would make my rent about $50. sign me up for that apartment!
mochi26 mochi26 8 years
Woah, I cannot believe that the income must be 45 times higher than the rent!! What cities does this apply in? A nice (eve really nice) apartment in Houston usually require only 3 or 4 times more income than the rent price!
bleached bleached 8 years
"Many landlords require a renter's income to be as much as 45 times monthly rent" Wow, really? That's contrary to our provincial Human Rights Charter
a-nonny-mouse a-nonny-mouse 8 years
So, it's a one-time fee? Akin to a second security-deposit? Or do they break it up into a monthly fee?
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