Applicants who do not meet all rental qualifications may be approved with a qualified cosigner. A cosigner/guarantor must meet the following criteria:
- Residency
- Credit
- Must have a strong established credit history with a minimum credit score of 725-750.
- No negative recent account history in the past two years
- No outstanding landlord/utility collections, evictions, foreclosures, or bankruptcies within the past 7 years.
- Income
- Must provide verifiable gross monthly income of at least 8x the monthly rent
- Income must be verifiable with recent pay stubs, tax returns, or other reliable forms of verification.
- Employment/Assets
- Must show stable and ongoing employment (minimum 1 year preferred) OR sufficient verifiable liquid assets to cover the lease term equal to 12 months
- Legal Obligations
- Cosigner must complete a full rental application, undergo the same screening process as the applicant, and sign a Cosigner/Guarantor Agreement making them jointly and severally liable for all lease obligations (rent, fees, damages, etc.).
- Limitations
- Only one cosigner per household is permitted.
- Cosigner cannot be another current resident of the unit.