We offer a Cosigner or theGuarantors program option for applicants who are close to meeting our approval guidelines but need additional support for either income, credit, or lack of established housing history. These options are not intended to offset major gaps in meeting our approval guidelines. In cases involving specific credit risks like past delinquencies, we may require the use of TheGuarantors program exclusively, rather than a traditional cosigner.
- To be eligible, applicants must have a credit score of near 600 and verifiable income of approximately 1.5 times the monthly rent.
- Applicants with poor credit or significant income shortfalls may not qualify for either a Cosigner or TheGuarantors option. Factors such as significant delinquent accounts or account balances, a history of missed payments, gaps in housing history, or other factors may negatively impact an approval decision.
Frequently Asked Questions: Credit & Guarantor Options
1. What happens if I don’t meet the standard credit or income requirements?
If your application falls just outside our standard approval guidelines, we may still be able to offer you a lease. In these cases, we typically require additional security in the form of a U.S.-based Cosigner or through our partnership with The Guarantors (a third-party lease guarantee service).
2. Am I eligible to choose between a Cosigner and The Guarantors?
In many situations, the choice is yours. We offer this flexibility to applicants who demonstrate financial responsibility but fall just outside our standard approval guidelines. To be eligible for these alternative options, applicants must generally have a credit score near 600 and verifiable income of approximately 1.5 times the monthly rent.
When you can choose: You are typically free to choose the method that works best for you if your application is impacted by:
- Limited U.S. credit history or no U.S.-based Social Security Number (International applicants).
- A high debt-to-income ratio that exceeds our standard policy.
- A credit profile that doesn’t meet our normal criteria but shows a consistent pattern of reliability (no history of unpaid balances, delinquencies, or charge-offs).
When options may be limited or unavailable: Please note that a choice is not always guaranteed. In cases involving delinquent accounts, a history of missed payments, or gaps in housing history, we may only be able to offer approval via TheGuarantors program.
Furthermore, applicants with significant income shortfalls or severe credit issues—such as substantial unpaid balances or multiple charge-offs—may not qualify for either a Cosigner or TheGuarantors option. These factors are weighed heavily in our final approval decision.
3. Why is “The Guarantors” my only available option?
In certain circumstances, our underwriting team may determine that a third-party guarantee is the only pathway to approval. This usually occurs when an application contains specific risk factors, such as:
- A history of late payments or delinquencies.
- Prior charge-offs or significant unpaid balances.
- Issues identified in past housing/rental history.
Because The Guarantors provides a specialized level of institutional security, it allows us to approve applications that would otherwise be declined due to these specific credit or history challenges.
4. I am an international applicant without a U.S. Social Security Number. Which should I use?
Since we cannot perform a standard U.S. credit review without an SSN, you will be invited to use either a qualified U.S.-based cosigner or The Guarantors. The Guarantors is often the most popular choice for our international residents, as it provides a streamlined approval process specifically designed for those moving from abroad.
5. What is the main difference between the two?
The Guarantors is a service where you pay a small fee to a third-party company to act as your “institutional cosigner.”
A Cosigner is typically a family member or friend based in the U.S. who meets high income and credit requirements and is willing to take legal responsibility for the lease.
6. Why do credit history and delinquencies matter if I have enough income?
We view credit history as a measure of financial resilience. While your current income covers your monthly rent, your credit profile tells us about your ability to handle unexpected life disruptions—such as emergency medical bills, car repairs, or a temporary lapse in cash flow.
When an applicant has a history of significant delinquencies or very poor credit, it often indicates a limited “financial safety net.” In the event of an emergency, someone with limited access to credit may be forced to choose between paying for essentials—like food, electricity, or transportation—and paying their rent.
Our goal is to ensure that every resident is set up for long-term success. By requiring a certain credit threshold or the added security of TheGuarantors, we are ensuring that there is a secondary layer of protection in place so that an unexpected expense doesn’t jeopardize your housing stability.
