HOW IT WORKS
OneApp Guarantee is the solution for renters with challenges like income, less-than-perfect credit or rental history hiccups. It's easier for property managers to say yes to these renters when they have a co-signer. We'll strengthen your rental application as your co-signer for the term of the lease, so property managers can say yes to you.
Apply at a participating property. If you need a co-signer, apply with OneApp Guarantee.
2. GET APPROVED
We screen based on our own set of compassionate criteria, and we stand behind every person we approve.
3. PAY A FEE
The fee to co-sign is equal to 1-month's rent. The property may require other fees and deposits.
4. MOVE IN
We'll be your co-signer. Enjoy your new home and know we've got your back.
What is OneApp Guarantee?
- OneApp Guarantee is for renters who need a co-signer to move into a property. OneApp Guarantee will act as your guarantor on your lease.
Will every property I apply for accept OneApp Guarantee?
- No, not every property management company has agreed to accept the OneApp Guarantee as a co-signer, but you can still apply for properties that don’t yet accept OneApp Guarantee. If they currently do not participate or know what OneApp Guarantee is, we will talk with them about participating.
Why should I use OneApp Guarantee?
- There is no fee to apply.
- There is no need to find a qualified co-signer or ask a family member or friend to be one.
- Typically, additional security deposits are reduced or waived when you have a guarantee.
- The process to move in is much faster when using OneApp Guarantee.
- We help you re-establish good rental history.
How much does it cost to apply for OneApp Guarantee?
- There is no application fee to apply.
How long does it take to get approved for OneApp Guarantee?
- If you provide the correct income documents, an approval usually take less than 24 hours (Monday-Friday).
When should I apply for OneApp Guarantee?
- You should apply at the property first to see if you need a co-signer to move in. If you are told you need a co-signer, then apply for OneApp Guarantee.
What do I need to do to apply?
- You must complete an online application and submit current income documents. Make sure you have your two most recent pay stubs prior to starting your application. You will need to upload them during the application process.
How much is the OneApp Guarantee fee?
- The fee for a renter who qualifies for OneApp Guarantee equals 1-month's rent for a 12-month or shorter lease. If you have a longer lease, the fee equals how much you will pay in rent over the entire lease, divided by 12.
Example: A 16-month lease in which the monthly rent is $1,000.
How much you pay in rent over the entire lease: (16 x $1,000) = $16,000
Divided by 12: $16,000/12 = $1,333.33 fee
- The OneApp Guarantee fee doesn't go towards rent payment or security deposit fees that may be charged by the property at the time of move in.
If I have a roommate do we each need to apply?
- Yes, each person in the household 18 years of age or older will need to complete a OneApp Guarantee application.
- You can add a roommate during your application and an email will be sent to them to complete their application.
Does each roommate pay a OneApp Guarantee fee?
- No, the OneApp Guarantee fee is for the household, not for each person.
Does the OneApp Guarantee fee go towards any security deposit or first month's rent owed?
- No, the OneApp Guarantee fee is separate from any security deposit or rent that is required by the property at the time of move in.
How will I be notified that I am approved?
- You will receive an approval email as soon as we review and approve your background check and income documents, and the property manager has verified your lease information.
When does the OneApp Guarantee become effective?
- As soon as the fee, usually equal to 1-month's rent, has been paid in full and the OneApp Guarantee Renter's Agreement has been signed and received by the property.
How do I pay the OneApp Guarantee fee?
- Once your lease rate has been verified by the property manager, you will be emailed a link to pay the fee through the online portal.
- After your application has been approved you can also find a link to sign and pay at the top of your application if you log back into OneApp Guarantee.
How soon do I have to pay the fee once I am approved?
- You will need to pay for OneApp Guarantee before you sign your lease and move into the property.
How long is my application good for?
- Your OneApp Guarantee application is valid for 90 days; however, the income documents are only valid for 30 days.
- You will need to resubmit income documents after 30 days of approval if you haven't moved into your new home yet.
What happens when the lease expires and is renewed? Am I still covered under the OneApp Guarantee?
- When the lease expires, the OneApp Guarantee also expires. If the property requires you to have another co-signer to renew your lease, you will need to provide updated income documents. If you're still in good standing with OneApp Guarantee, you'll pay a reduced fee of 50% of the new monthly rent to continue your coverage.
What are my lease obligations?
- You are obligated to all of the Terms and Conditions of the lease agreement.
- Should you stop paying rent, be evicted, skip, or break your lease, the property manager is covered up to 3x the rent amount for rental losses and damages. However, you are still responsible for the debt owed to OneApp Guarantee.
- Any debt owed to OneApp Guarantee will be sent to collections having a negative impact on your credit and rental history.
What does the OneApp Guarantee cover?
- The OneApp Guarantee will cover rent and damages up to 3x the rent if you are evicted due to non-payment of rent, skip or break your lease.
What is the refund policy?
- The OneApp Guarantee is refundable prior to signing any lease documents or moving into the property. Once lease documents have been signed or you have moved in, the OneApp Guarantee fee is final and no refunds can be issued.
- If lease documents are not signed, the move in does not occur, and the property will not charge a penalty, a full refund will be issued. The refund process will take approximately 3 business days.