Understanding the co-signing fee
Once approved, there's a one-time co-signing fee to guarantee the lease – here's everything you need to know.
With OneApp Guarantee, it's completely free for renters to apply. In fact, renters only pay if they're approved and choose to proceed with a lease guarantee.
If approved, should they choose to proceed, renters pay a one-time co-signing fee of one-month's rent for us to guarantee their lease.
Payment Options
There are two ways renters can pay the co-signing fee:
- Pay in Full: Make the entire payment upfront with no additional fees
- Payment Plan: Pay 50% upfront and the rest in 5 equal monthly payments
💡 Good to Know: Properties with the payment plan option enabled see higher occupancy and faster results, as it reduces the renter's upfront costs.
Frequently Asked Questions
What is the co-signing fee for?
The co-signing fee is the one-time payment that allows us to guarantee the lease and provide default protection for your property, in the event that the renter is unable to pay. Once paid, a copy of the receipt and signed Approval Agreement is sent to the renter and the property manager via email, so you can work with the renter directly to complete the lease agreement and start the move-in flow. Learn more about how it works.
How much is the fee?
The fee is equal to one-month's rent (e.g., if their rent is $1,200, the fee will be $1,200).
What if the renter pays and decides not to sign the lease?
Unlike other lease guarantee services, our fee is 100% refundable if the renter pays the fee but decides not to sign the lease and move-in.
💡 Good to Know: It takes 3-10 business days for the refund to process, but you'll be notified via email as soon as it's complete. Learn more about refunds.