For NYC renters who don’t have a parent or well-to-do friend who can guarantor their apartment, getting on a lease can be a challenge. In addition to wanting a credit score of at least 700 and looking at bank statements, landlords usually want to see that a prospective tenant’s annual income is 40 times greater than one month’s rent. If that’s not the case, their guarantor must earn a whopping 80 times the monthly rent. Aware of this hardship in a country where rents have risen 20 percent over the last five years, a new financial startup hopes to help clear these hurdles. As noted by the Wall Street Journal, TheGuarantors sells payment insurance to tenants, which gives landlords a guarantee that they’ll still be paid if the tenant fails to meet rent.