How Much Does The Guarantors Cost?
The Guarantors doesn't publish a flat fee. It uses a tiered pricing model, which means what you pay depends on your risk profile — income, credit history, employment status, and whether you're a U.S. citizen with an established credit file.
Here's the general range based on publicly reported figures and renter accounts:
- Lower-risk applicants (strong U.S. credit, income at or above 27.5x monthly rent): roughly 40% to 55% of one month's rent
- Mid-range applicants (decent credit, borderline income): roughly 55% to 85% of one month's rent
- Higher-risk applicants (international students, thin or no U.S. credit, self-employed): 85% to 130% of one month's rent, sometimes higher on multi-year leases
On a $3,200/month apartment in Brooklyn, that's anywhere from $1,280 to $4,160 or more, paid before you get the keys.
The variation is real and meaningful. Two renters signing leases in the same building can receive quotes that differ by thousands of dollars. Your quote depends on what their underwriting model flags about your profile — and there's no way to know in advance exactly where you'll land.
Is a The Guarantors Fee One Time Only?
Yes — the fee is a one-time, upfront premium, not a recurring monthly charge, although there are a few options for payment plans.
For the most part, you pay it once at the start of the lease. It does not get applied to rent. It is not refundable if you move out early, break the lease, or the apartment doesn't work out before signing. For most renters, it's a sunk cost the moment it's paid.
A few things to understand about how this works in practice:
- You pay the premium before your lease is finalized. It’s fully refundable if the lease falls through, but if they are requiring a guarantor, your landlord will likely not let you sign the lease until the guarantee bond is live.
- If your lease renews, you may need to pay again. If your financial profile has not changed much, guaranty products require a new premium for each lease term. Confirm the renewal policy before you sign.
- The coverage period matches your lease term. A one-year lease gets one year of coverage. A two-year lease at the same percentage rate costs roughly twice as much in absolute dollars — which is part of why longer leases generate the highest fees for higher-risk applicants.
Coverage under a lease guaranty bond can include unpaid rent, and optionally could include damages, unpaid utilities, or abandonment, depending on what the landlord has negotiated with the guarantor.
Why the Fee Varies So Much — and What It Means for You
The Guarantors operates like an insurance underwriter. They're pricing the risk that you'll default on your lease. If your profile looks riskier — no U.S. credit, limited rental history, income that doesn't hit the standard NYC threshold of 40x monthly rent — they charge more to take on that risk.
This isn't inherently unfair. But it does mean the renters who need a guarantor most urgently are often the ones who pay the most for it.
International students at NYU, Columbia, or Fordham, for example, frequently have no U.S. credit history at all. New York City is home to more than 68,000 international students across its six largest universities, and virtually all of them need some form of third-party guaranty to rent in the city. For that group, a quote near or above 100% of one month's rent isn't unusual — which on a $2,800 Harlem studio means paying close to $3,000 before moving in.
Understanding this upfront changes how you should approach the process. Don't assume the fee will be on the low end. Get a quote early, before you've emotionally committed to an apartment. And compare quotes across every guarantor you can and be ready to negotiate with your landlord to get them to accept the cheapest guarantor you can find: onboarding a new guarantor service usually takes just a few emails.
What to Look for Beyond the Fee
The upfront cost matters, but it's not the only variable worth comparing. A few things that don't show up in the headline number:
How fast does approval move? NYC leasing offices don't hold apartments. If your guarantor takes 3–5 business days to issue a guaranty letter, you may lose the unit before the paperwork clears. Ask each provider for their typical turnaround time — and hold them to a specific answer, not a marketing estimate.
Is customer support actually reachable? At some point, something will go sideways — a landlord question, a document issue, a timeline crunch. Some guarantor companies are notoriously difficult to reach when that happens. Others answer the phone.
What does the coverage actually include? Not all guaranty bonds are identical. Some cover only unpaid rent. Others extend to property damages, utility defaults, or early abandonment. If you're a landlord evaluating options, these distinctions matter for your risk exposure. If you're a renter, they matter because broader coverage can make your application more attractive to a building that's on the fence.
A Smarter Way to Compare
Before you commit to any guarantor service, get quotes from every company your building might accept — not just the one the leasing office mentions first. The same applicant profile can produce noticeably different quotes depending on how each company prices risk.
PandaGuarantee is accepted at buildings across New York City and typically comes in at a lower cost than comparable guarantor products for the same applicant profile. Approvals move fast. Claims are paid in 3–5 business days. And if you need to talk to someone, you can actually reach us.
If you want to see what you'd pay — and compare that against what the leasing office quoted you — use our tool below. Enter your building and your monthly rent, and we'll show you where PandaGuarantee lands for your situation.
→ Get a quote from PandaGuarantee — enter your building and monthly rent to compare
The Short Version
The Guarantors charges between 40% and 130% of one month's rent, depending on your risk profile. It's a one-time, non-refundable premium paid at lease signing. International renters and applicants with thin U.S. credit consistently pay more — sometimes significantly more. Before you accept the first quote you receive, check what other guarantors accepted at your building are charging. A few minutes of comparison can save you real money.
For more on how guarantor services compare in NYC, see our breakdown of the best alternatives to The Guarantors and what they actually cost.