What is Greenlight Rent Guarantee?

In addition to traditional security deposit insurance, Greenlight Rent offers Greenlight Guarantee coverage to property managers that might otherwise require a renter to obtain a conventional guarantor to finalize their lease. Designed for renters with little to no credit score, students, internationals, and those who are conditionally approved by their properties, you may be eligible to have Greenlight Rent step in as your guarantor. That means if you ever miss rent or have an issue with your lease, Greenlight Rent provides financial protection required by your landlord, keeping your move-in smooth.  Your property manager will decide if they want to offer you Greenlight Rent Greenlight Guarantee coverage during your application process.

How does Greenlight Guarantee work?

If you are not approved for a lease on your own, Greenlight Rent can step in as your guarantor. Your property manager will review your rental application and present additional move-in or coverage requirements in order to approve you.

The total coverage on your policy is the maximum amount that can be claimed by your landlord in the event that you miss rent payments or cause excessive damage to the home. If a claim is filed on your policy, you will be responsible for repaying Greenlight Rent, so be sure to check what a claim could mean for you. 

Your total price  includes:

• An upfront premium
• A collateral or "refundable reserve," if applicable
• Applicable fees and taxes

Pricing is determined based on your personal information and leasing information provided by your property manager.

The “refundable reserve” is held by Greenlight Rent + Jetty in case you default on your lease due to missed rent or covered damages. It may be returned to you when you move out, as long as your account is in good standing and no claims have been filed by your landlord. 

Please note: If your landlord submits a valid claim, Greenlight Rent + Jetty will pay the claim amount on your behalf. If this happens, your reserve will not be refunded, and you will be responsible for repaying Greenlight Rent + Jetty for the full amount paid to the landlord. Your premium is generally non-refundable, except in limited situations described in your policy documents.

How to Enroll in Greenlight Guarantee

Your property manager will send an invitation to your email to apply. Once received, follow the steps below:

1. If you have not received the invitation email, ask your property manager to send one via their Greenlight Portal.
2. Complete your Greenlight Rent + Jetty application to receive your Greenlight Guarantee quote. 
   1. Coverage and leasing details will be pre-filled in the invitation. 
   2. Submit payment to complete enrollment.

Please note: Your Greenlight Rent policy will be available in your Property Manager’s Greenlight Portal. You can also access and download your policy documents through your Greenlight Rent + Jetty Renter Portal.

Have a roommate? Only one Greenlight Guarantee policy is needed per unit. If your roommate has already enrolled, you do not need to purchase a separate policy.

After enrollment, review all policy details carefully. 

• If your address and lease dates are incorrect, they can be adjusted after enrollment. Contact your property manager to make this change.
• If your rent or coverage amounts on your policy are incorrect, the policy must be canceled and a new one purchased. Contact your property manager for a new invitation with the correct information.  If you purchased the wrong type of coverage  — for example, Greenlight Guarantee instead of the Security Deposit Alternative — the policy must be canceled and a new one purchased. Contact your property manager to get started. 

Please refer to: "Canceling Greenlight Guarantee Policy" article for more information.