Understanding the co-signing fee
Once your application is approved, there's a one-time co-signing fee to guarantee your lease – here's everything you need to know
With OneApp Guarantee, it's completely free to apply. If you're approved and decide to proceed with us as your lease guarantor, you'll pay a co-signing fee for us to guarantee your lease. The co-signing fee is equal to one-month's rent (base rent for a standard lease term up to 12 months), but don't worry, we offer a payment plan option to help mitigate your upfront move-in costs. For leases 13-24 months, the fee increases at a pro-rated amount.
Payment Options
There are two ways to 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
*Payment plan availability is subject to property policy – please communicate with the property manager to understand their payment plan policy upfront, to avoid any surprises.
💡 Good to Know: Payment plans include an additional 20% risk fee, so paying in full is the most cost-effective option long-term.
Frequently Asked Questions
What is the co-signing fee for?
The co-signing fee is the payment that allows us to guarantee your lease and cover the property up to 3x rent, in the event you're unable to pay. Once the co-signing fee is paid, a copy of your receipt and signed Approval Agreement is sent to you and the property manager via email, so they can work with you directly to complete the lease agreement and start the move-in flow.
How much is the fee?
The fee is equal to one-month's rent for leases up to 12 months (e.g., if your base rent is $1,200, your fee will be $1,200). For leases longer than 12 months, the fee will be increased to account for the longer term of coverage.
Will I still have to pay a security deposit to the property?
With us as your co-signer, we protect the property's assets and eliminate the need for additional fees and deposits. However, policies vary at each property and some may still require them. To help mitigate your upfront costs and avoid surprise fees, it's important that you communicate with the property to understand their move-in costs.
What if I pay and decide not to sign the lease?
Unlike other lease guarantee services, our fee is 100% refundable if you pay but decide 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.