I just read an article from a NY real estate website that can easily be applied to Beacon Hill condo renters.

The article was about how landlords aren’t crazy about having a co-signer on your lease who lives out of state, so if you need a guarantor in order to qualify to rent an apartment.

“New York landlords don’t like out of state co-signers for legal reasons,” explains Jeffrey Geller, vice chairman and chief operating officer of Insurent (a Brick sponsor). “It is more difficult to serve out of state co-signers, and they also need to hire new attorneys in other states.”

From my experience, like NYC, Beacon Hill condo landlords who will only accept co-signers within the area. This can pose a significant challenge to Beacon Hill condo renters who need a guarantor to qualify for a rental and whose family lives elsewhere.

If you don’t meet the income qualifications to rent (usually 40 times the monthly rent) and don’t have any family or friends living in-state who could serve as a guarantor, you have a few other options.

“The most common reason landlords require a guarantor is because of insufficient income,” says Dennis Hughes, a broker with Corcoran. “If this is the case, prospective tenants should, if possible, offer additional security, or offer prepaid rent of several months or more—even up to a year.”

For Beacon Hill condo renters who don’t have that amount of cash handy, they or their would-be co-signers can opt to use a service like Insurent, which will act as their guarantor for a fee calculated as a percentage of a month’s rent.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

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Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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