Rent Liability Guarantee Company
A company that acts in place of a guarantor for a tenant applying for rental housing. To use their services, you must pay the company a set guarantee fee (usually 30% to 100% of one month's rent as guarantee fee for 2 years). Should you fail to pay your rent, the company will pay it for you, but this is not insurance, and they will bill you later for the amount paid. In recent years, many landlords have required the use of a rent liability guarantee company.