What They Are and When to Consider Using Them

What They Are and When to Consider Using Them
Credit: iStock.com/harrocks

Many landlords and real estate companies require that potential tenants meet financial, professional, and rental criteria to be eligible for rental. However, there may be instances when you are on the verge of reaching the qualifications, but your application needs a little boost. If this happens and you don’t have someone who can co-sign for you, you can use the co-signing services to improve your rental application and better secure the property you want to rent.

Here are some co-signing companies to consider:

  • Insurer
  • Pier
  • Jump
  • Freedom to rent
  • OneApp Guarantee
  • Rhinoceros
  • The guarantors

Read below to learn more about each.

What is a co-signing company?

A co-signing company is a service that you can pay to co-sign your lease as a guarantor, which means that they will pay your lease if you are ever unable to do so. You might need a co-signer like these companies in certain situations, such as if you don’t meet the minimum credit score, don’t have a lot of credit history, or have defaulted on a loan. or a previous lease due to circumstances outside your control.

The use of a co-signing company, also called a lease guarantee company, involves:

  • Request co-signing service
  • Provide the required personal and financial information to the company
  • Get approved by the co-signing company
  • Have your landlord approve your co-signer
  • Pay service charges, which are often a percentage of your rent
  • Have the co-signing company pay your lease if you cannot pay
  • Reimburse the business if you charge it on your behalf

You can use a co-signing company if you do not meet the rental qualifications of a landlord or property manager and no one in your life, such as a family member or friend, can co-sign for you. .

How much does it cost to hire a co-signer for an apartment?

Registration and service fees may vary by company. Since many companies often charge a percentage of your rent as a co-signing service fee, the amount you pay depends on the amount of rent for the unit, which can be determined by size, location, amenities, popularity and length of the lease.

Co-signing companies for apartments

Here are some of the top apartment co-signing companies, their service offerings and fees to get you started on your search:


Insurent Lease Guarantor Service charges a one-time upfront payment of 70% to 90% of a month’s rent for a 12-month lease for US citizens. Non-US citizens will expect to pay 98% to 110% of monthly rent as a lump sum. Some of the benefits of going with this company include extensive protection and below average annual rent income requirements. There are also no administration fees.

However, Insurent only covers potential renters in nine states: New York, New Jersey, Massachusetts, Virginia, Maryland, Illinois, Nevada, California, and Florida. They also cover tenants in Washington, DC. If you get an apartment with a roommate, they also need to apply and be approved.


This company offers security deposit alternatives to help you secure a rental at one of their partner properties. Jetty offers flexible rates, an easy to complete online application, and even tenant insurance. While they don’t offer rent coverage, seeking their services can help you get into a property if you can’t find a co-signer and have little or no credit in debt. This means that they are not a traditional co-signer service, as you can only use their services at one of their partner properties, which are located in over 40 states.


Leap provides co-signer services at 4.5% to 8% of annual rent for a 12 month lease, which is quite low compared to other companies. Some of the main benefits of Leap’s services include no application fees, quick and easy to complete online application, quick approval time, and options for non-US citizens. However, some of the downsides include the requirement of a roommate to apply as well and no rental coverage.

Freedom to rent

Liberty Rent has a guarantee program that helps those who have been rejected by rental properties get approved, including sending a co-signature endorsement to the owner or property. The online application process is relatively straightforward and even begins with a brief questionnaire that assesses your chances of being approved by their services. You get a score between 0 and 100, which determines whether they cosign. And everyone with a score above 80 is approved.

However, their services are limited to a few properties, and there is an application fee of $ 35 for everyone on the lease.

OneApp Guarantee

This company provides co-signer services to help remove many housing barriers that people face. OneApp provides rental assistance and damage coverage, and accepts payments online. Some disadvantages include that all roommates must apply, all applicants must reapply after 12 months, and they may require owner approval before co-signing.


Rhino offers agreements up to 24 months and alternative security deposits. They are available in over 40 states. However, they are limited to around 500,000 properties and require you to use their security deposit services.

The guarantors

Guarantors also offer co-signing agreements for up to 24 months and are available in more than 40 states. However, they are only accepted in around 400,000 apartments. There is also a pretty steep cancellation fee of $ 300 if you want to cancel your contract early. You must also have decent to good credit to be eligible.

Considerations for co-signing companies

Since co-signing services are a newer industry, there may be companies offering illegitimate or risky services under the guise of a trustworthy co-signing. Always check a business on the Better Business Bureau to make sure it is legitimate and trustworthy.

If you don’t qualify for a tenancy and don’t have a co-signer to help you out, you have options, such as paying a co-signing company for their leasehold services. However, this option comes with its own set of advantages, disadvantages, and risks that you should consider before applying or accepting an offer. This can help you make the most informed decision for your rental future.