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Comparing U.S. Rent Guarantee Programs for Landlords

Key Takeaways

  • Homeowners don’t have to manage the risks of renting alone. Rent guarantee programs are designed to help landlords face situations where a resident stops paying their rent, damages property, or even if an eviction needs to be filed.
  • Unlike most rent guarantee programs, SingleKey ensures the tenant is low-risk with a comprehensive tenant screening process and helps landlords through the entire legal process in the case of an eviction.
  • SingleKey has no hidden fees. Property owners pay 5% of their monthly rent (paid annually) for all of its Rent Guarantee services.

Published on Oct 4, 2023 | Updated on Jan 31, 2024

Logos of rent guarantee program providers in the U.S. including SingleKey

Get through your rental applications faster

Never miss a rent payment

Stress-free guaranteed renting


All landlords have to consider the prospect of late or missed rental payments. It comes with the territory of managing properties. As a safeguard, property owners are now enlisting the services of rent guarantee programs to secure their rental income.

A backup plan that covers lost rent, property damage, and lease agreement breaks will lighten the load and protect the homeowner’s investment property earnings.

Comparison of the rent guarantee programs

Name of provider

Type of coverage

Tenant screening tools available?


  • Rent guarantee with legal support through eviction proceedings
  • Proven risk management service backed by insurance underwriting
  • Comprehensive, accurate tenant screening reports are provided


  • Property management services
  • Rent guarantee provider
  • Screening and placement


  • Deposit replacement
  • Some rent guarantee options
  • Non-refundable application approval process for tenants

The Guarantors

  • Offers a rent guarantee program for low- to high-risk renters
  • Non-refundable application approval process for tenants with limited financial resources
  • Soft credit check

Rent Rescue

  • Limited rent reimbursement
  • Some eviction cost coverage
  • Application approval process for property managers


  • Rent guarantee coverage and some eviction coverage
  • Application approval process for landlords


  • Replaces security deposit with small payments
  • Non-refundable application process for tenants with insufficient credit


  • Lease guarantee program, specializing in placing tenants
  • Tenant screening reports provided


  • Rent guarantee coverage
  • Reviews tenant’s historical on-time payments, late payments, NSFs

Rhino Insurance

  • Security deposit and guarantor coverage
  • Soft credit check

How do rent guarantee policies help landlords?

Whether you’re a landlord managing a rental unit during an economic decline or have a tenant going through financial hardships, SingleKey has a solution to ease your concerns.

Our program reduces the risk associated with renting by offering the following benefits:

  • Unpaid rent reimbursement
  • Property damage protection
  • Financial protection when tenants break their lease
  • Legal support and limited legal fee coverage through the eviction process

Tenant troubles can be costly and time consuming. When a tenant stops paying their monthly rent, many times, the only recourse for a landlord is eviction. Evicting a tenant from a rental property takes, on average, four to eight months, depending on the U.S. state where the residential property is located.

SingleKey’s Rent Guarantee supports property owners by covering up to $2,000 in paralegal fees and eviction costs.

What key features should property managers have access to?

If you’re looking for the essential features of a rent guarantee program, these characteristics will be the most effective:

Comprehensive coverage

Your concerns with comprehensive coverage, including lease breaks, unpaid rent, and legal support through eviction, are alleviated with SingleKey.

Many rent guarantee providers don’t offer lease break coverage. SingleKey provides 30 days of rent paid if your tenant leaves without notice. Also, landlords will receive up to 12 months of rent (up to $60,000) in case of delinquency.

Legal help and eviction protection and resolution

When eviction is the last resort, SingleKey will manage the entire process and cover up to $2,000 in legal fees.

Support the tenant screening process

Tenant screening is essential for filtering through risky prospective tenants and finding your top candidates. You can access credit checks, proof of income, previous landlord references, and a public records scan with an accurate tenant screening report.

A closer look at the cost of rent guarantee

Many companies intentionally leave out the cost of rent guarantee on their website or cover the minimal amount for late rent payments. Some guarantors advance annual rent for risky tenants at a higher fee.

When shopping for rent guarantee coverage, look at how transparent the company is with services and expenses. Ensure they have a no-hidden-fee policy and provide top-of-the-line tenant screening to guarantee on-time, steady rent. Always compare the cost of rent guarantee services for peace of mind that your rental is protected.

Here’s a closer look at what services some of the rent guarantee providers in the U.S. offer and what fees are associated with each company.

  • Tenant Report: By conducting a thorough and accurate background check with SingleKey’s Tenant Report, you can identify quality applicants who are most likely to pay on time and protect your rental property. 
  • Rent Guarantee: SingleKey specializes in Rent Guarantee. For only 5% of your monthly rental income, we cover 12 months of rent (up to $60,000), and guarantee up to 30 days of rent paid if a tenant unexpectedly breaks their lease. SingleKey reimburses landlords up to $10,000 if their tenant causes malicious damages. All homeowners enrolled in the Rent Guarantee Program also get two free Tenant Reports.
  • Eviction Resolution: You’ll get support throughout the eviction process and be covered up to $2,000 in paralegal and eviction fees. 

Knowing the cost of services can help you plan financially and make wise decisions. SingleKey has no hidden fees. Our services and fees are transparent as we aim to build trust with homeowners from the start. 


Nomad is a property management company that offers realtor services. Their property management offerings include screening and placement of tenants in rentals, guaranteed rent coverage for two years with existing tenants, and they claim to provide property protection for up to $500,000. Nomad automatically deducts 4% of the landlord’s monthly rental income. Here is what landlords can expect with Nomad’s rent guarantee program:

  • Nomad advertises on their site that they charge a 4% monthly fee, automatically deducted from the rental payment. However, they obscure additional costs, such as a $1,000 onboarding fee.
  • Nomad does not process their rent payments until the fifth of the month.
  • Nomad shares the owner’s contact details with tenants.
  • Nomad does not have a direct phone number to contact. Landlords must submit tickets. 

Leap tailors their services to tenants that can benefit landlords. According to their website, they approve tenants to make monthly payments instead of one large deposit sum before moving into the rental property. Leap also offers some rent guarantee options. 

The tenant pays for Leap’s cost, which aids the landlords. Since Leap does not disclose all fees on its website, landlords must contact Leap to begin the process. In contrast, SingleKey has full transparency on what you will pay. Here are some of the key points to note about Leap’s rent guarantee program: 

  • Leap caters to tenants who need assistance paying their security deposit.
  • Not all of the fees for Leap’s rent guarantee are advertised.
The Guarantors

The Guarantors provide rent and deposit coverage to tenants with limited financial resources. They also support landlords through rent coverage. The tenants pay for the coverage. The cost for rent coverage varies from 30% to more than one month’s rent. The rent deposit coverage fee depends on the tenant’s state and can cost 6% to 33% of one month’s rent.

The company offers three pricing groups, including low, medium, and high-risk renters.

  • Low-risk renter: $667 for two months of rent coverage
  • Medium-risk renter: $1,078 for six months of rent coverage
  • High-risk renter: $1,561 for 12 months of rent coverage

The gross rent determines the pricing. The pricing listed above is based on a monthly rent of $2,000.

Rent Rescue

Rent Rescue is a rent default insurance company. They will reimburse some unpaid rental income and cover some legal expenses for eviction.

Rent Rescue charges $300 per unit for the following coverage:

  • Up to six-month reimbursement of lost rent
  • Up to three-month reimbursement due to court order, military deployment, or death

The rent guarantee program includes:

  • Only $1,000 of legal expenses to pursue eviction
  • Only six months of rent coverage
  • Services not available in Kentucky or Alaska

After filing a claim with SureVestor, property managers can receive up to $35,000 for malicious damages. The company also offers up to $5,600 in eviction expenses. According to SureVestor’s website, here’s what’s included in their rent guarantee program: 

  • Will only cover two months of rent; upfront fees may apply
  • 12 weeks of rent for tenant delinquency
  •  Landlords will receive eight weeks of rent coverage if tenants don’t pay rent

LeaseLock provides financial coverage to landlords and helps tenants with average to below-average credit get approved for rental properties. They act as a cosigner for renters with poor to average credit. 

The monthly fee varies and is paid by the resident along with their rent, which replaces their deposit. Their rent guarantee assistance may also cover the following:

  • Placement of tenants into rental units with insufficient credit (upfront fees may apply)
  • A monthly fee paid by the resident is included in the rent, replacing the deposit

Insurent’s lease guaranty program helps fill vacancies with tenants who would typically not qualify for a lease. Here are are some key points about their program:

  • Guarantees the full rent obligation under lease, with exceptions.
  • Late rent and legal fees are covered up to the security deposit amount.
  • Only offers services in New York, New Jersey, Massachusetts, Illinois, Maryland, Virginia, Washington DC, Nevada, California, and Florida.
  • Tenants who need a third-party guarantor on the lease use Insurent’s services.

The Insurent guarantee program appeals to the following applicants: 

  • Those with insufficient income sources
  • Renters who have an average or poor credit history

Steady Rent offers rent protection and rent advances to property owners. Property owners must partner with Steady to be eligible to use Steady’s OBP™ (Owner Benefit Package). The OBP™ provides homeowners with up to 12 months of rent upfront and will pay the property management fees. If the property owner opts out of advance rent, they will receive two months of rental income protection.

Steady’s package includes the following benefits: 

  • Up to two months of rental income protection 
  • Only $1,000 of legal expenses for eviction
  • Up to two months of rental income protection without an advance
Rhino Insurance

Rhino Insurance offers coverage for renters who don’t meet a property owner’s specific move-in requirements.

Instead of renters paying a security deposit, renters pay a non-refundable $5 to $10 monthly fee for an insurance policy covering any potential damage or lost rent. In addition to these offerings, Rhino outlines some of the following details in their rent guarantee offering: 

  • Rhino covers the amount on a policy. If the policy amount is $1,000, then Rhino will only cover $1,000. 
  • The coverage is not compatible with a high-cost apartment.

FAQ: U.S. providers of rent guarantee

Most rent guarantee services cover loss of rent or rent delinquency. Some rent guarantee programs cover eviction costs and property damage deemed malicious, such as vandalism.

With SingleKey, we provide tenant screening services to help you find quality applicants before they sign the lease agreement. Landlords must include a consent form in the rental application. From there, most reports are produced within minutes. A thorough vetting will ensure landlords that the prospective renter will be prompt with their payment of rent every month. 

In addition to obtaining a background scan and credit score, landlords can feel at ease with SingleKey’s rental income coverage if a tenant is delinquent or breaks the lease terms without giving proper notice. In the event of an eviction, SingleKey assists landlords with risk management and underwriting.

Depending on the company, qualifications may vary. Some property managers determine eligibility, and some rent guarantee programs that work directly with the tenants will set the standards. Usually, a tenant must pass a background check and have sufficient credit.

Some rent guarantee programs cover as little as two months of rent, while others will cover the entire lease term. The fees will change depending on the guarantor the property owner chooses to partner with. Look for hidden fees and ask the company for all service fees in a rent guarantee program. 

Our final thoughts

SingleKey offers the most comprehensive tenant screening methods, ensuring you place top-of-the-line tenants in your rental property. You can expect to see credit reports, eviction history, annual income verification, and social media scans.

SingleKey works directly with property managers, providing full-service offerings to streamline their process, which includes: 

  • Screening tenants with Tenant Reports
  • Guaranteeing up to 12 months of rental income 
  • Mitigating financial risk
  • Facilitating the legal process of eviction from start to finish
  • Covering some eviction fees
  • Giving financial support when a tenant damages the rental property

Learn more about protecting your rental income with SingleKey’s Rent Guarantee Program.

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