If you have looked for a home in Portugal, you have surely come across terms like guarantor, deposit or rent insurance. Behind all of them is the same idea: giving the landlord security. The rental guarantee is the modern way to do it. We explain what it is and how it works.
What a rental guarantee is
A rental guarantee is a backing that secures the landlord's rent if the tenant stops paying. It works as a substitute for the traditional guarantor: instead of relying on a guarantor or paying several months upfront, a guarantee is activated that covers payment according to the contract terms.
For the tenant, this means being able to access the home without needing a resident guarantor or tying up large sums of money. For the landlord, it means renting with the peace of mind that their income is protected.
How it works, step by step
- The tenant requests the guarantee and provides their documents (identity and income).
- The profile is verified digitally to assess solvency.
- Once approved, the guarantee is issued and the rental contract is signed.
- If at any point there is non-payment, the guarantee covers the rent as agreed.
Why it benefits both parties
- For the tenant: rent without a guarantor, with a fast process and no half-year upfront.
- For the landlord: secures their rental income and reduces risk and management time in case of non-payment.
- For the real estate agent: makes closings easier and faster, with verified candidates.
The guarantee does not make renting more expensive: it replaces barriers (guarantor, upfront months) with verified trust.
Grenty's rental guarantee
Grenty brings this idea to a 100% online process. The tenant applies in minutes, verification is digital and the guarantee is usually ready in under 24 hours. It is the same technology already operating in the United States, Argentina and Spain, now in Portugal, connecting tenants, landlords and agents on a single platform.