Housing access firm Cosign expands rental approval services to Southeast Michigan
Cosign is partnering with property managers in the Ann Arbor area to provide lease guarantees for applicants who are typically excluded by traditional credit-based screening methods.
Cosign, a firm specializing in rental lease guarantees, has launched operations in Southeast Michigan to address the gap between apartment vacancies and stringent tenant screening processes. As vacancy rates in the Ann Arbor metropolitan area climb to 8.9%, many applicants are being denied housing based on credit scores despite having the financial capacity to pay rent.
The company acts as a third-party guarantor for renters who lack traditional family cosigners. By utilizing a data-driven underwriting model, Cosign aims to assist workers such as nurses, teachers, and service industry staff who are often filtered out by automated screening software. Property managers, including those at Royal Glen Apartments, have begun utilizing the service to increase occupancy while maintaining lease obligations.
"Financial circumstances or credit history don't always tell the whole story," said Roxanne Robeck, property manager at Royal Glen Apartments. The firm operates across more than 800,000 apartment units nationwide, targeting individuals who meet current income requirements but fail to meet legacy credit benchmarks.
Founded by industry veterans Zach Schofel, Jacob Schofel, and Phillip Newsom, the company claims it does not report residents who fall behind on payments to collections agencies. The move into Michigan follows broader expansion efforts as the company seeks to standardize its alternative screening model across various U.S. urban markets.