HOW TO USE KO-SIGN
Why do I need a guarantor ?
In France renters without a full time work contract (CDI) and without a salary three times the monthly rent are required to have a guarantor.
Foreigners/ Students/ Entrepreneur/ CDI / CDD / Profession Libérale/ Retired/ trial periods.
Who can be my guarantor?
A guarantor is legally responsible to pay your rent if you are unable to pay. In France, a guarantor must be French, with a full-time work contract (CDI) with a salary three to five times your monthly rent.
What if I don’t have a CDI work contract or guarantor (caution)?
Ko-sign will be your guarantor. We take responsibility if you don’t pay your rent. This provides security for your landlord to accept your rental dossier without risk.
What is a Ko-sign Guarantee?
Ko-sign guarantee is an insurance policy in which the landlord is the beneficiary. The renter buys the insurance in order to qualify to rent the apartment, and the policy insures the landlord against the risk of unpaid rent. This means that landlords can accept renters they might otherwise have to reject, because they are eliminating their risk.
How much does it cost?
Prices vary between 3-6% depending on your profile, duration of your lease and type of documents.
What is the salary minimum?
For foreign Students we don’t require any income in France. For other profiles, we accept salaries two times the monthly rental.
What is the duration of the guarantee?
We accept furnished apartments with rents up to 12 months or unfurnished apartments with a lease of 3 years renewable
What do you protect?
We accept furnished apartments with rents up to 12 months or unfurnished apartments with a lease of 3 years renewable.
What happens if I break or stop paying my rent ?
Your obligations under the lease remain the same with or without our guarantee. Defaulting on the lease will lead to legal actions, the start of an eviction process and reporting to credit bureaus. You will be liable for legal fees and any rent payment due.
What is the process to sign up?
- Check your eligibility and create you pre-approval letter to include in your rental dossier
- Search for your rental property and present your pre-approval letter of guarantee
- Once the agent has accepted your application, sign up for our rental guarantee on-line. We accept within 24 hours and pay online.
- Take the letter of guarantee to your agent and sign the lease.
What documents do I need to provide?
This depends on your profile. We will provide you a list of documents when you test your eligibility that takes 2 minutes.