What the role involves
A Responsible Third Party (RTP) is someone, typically a parent, family member, or other trusted individual, who provides financial evidence to support a tenant's Rentmigo application. Their information is used as part of the overall assessment to strengthen the tenant's profile.
What an RTP is not
An RTP is not a guarantor. They are not signing a legal agreement and they are not taking on liability for the tenant's rent. If the tenant misses a rent payment, the RTP is not pursued for the outstanding amount.
Why it exists
Some applicants may not fully meet our underwriting criteria on their own. An RTP provides additional financial evidence, such as bank statements, that demonstrates a layer of support behind the tenant. This can help an application that might otherwise be declined.