For guidance on maximizing these changes for your approvals and risk protection, contact your Account Manager or Partner Success Manager.
Higher approvals for faster move-ins and renewals
Our latest risk model increases approvals by up to ~20% and reopens access to the strongest applicants with FICO scores under 520.
Easier, more affordable renewals: Qualified residents are now auto-approved for Rent Coverage renewals¹ at up to 35% less than year-one pricing². Residents qualified for auto-approval include those with no outstanding claims, no outstanding balance, and all rent payments made within 2 months of the due date.
More coverage at more predictable prices
Stronger protection: Coverage of three months or less will never cost more than one month’s rent² – that’s triple your standard coverage for conditional applicants. For student applicants, three months or less of coverage will never exceed 70% of one month’s rent. Note: Pricing updates not applicable to NYC.
Clearer pricing: We’ve made it easier to communicate expected costs to your renters. Reach out to your Account Manager or Partner Success Manager for a one-pager showing average and maximum prices for your coverage levels.
Cashflow underwriting to safely expand your renter pool
We’ve partnered with Nova Credit to bring cashflow underwriting into the approval process. In the application process, if we require more information to make an informed decision, applicants will be given the opportunity to securely link their bank accounts through Nova Credit, giving us real-time insight into their income and cashflow stability. This allows more qualified approvals that might have previously been declined and adds less than two minutes to their application process.
Coverage levels locked for every lease
Coverage levels are now locked to the levels agreed to by your company’s leadership team, ensuring every lease consistently receives the right level of protection. As a result, onsite teams will no longer have the ability to adjust coverage levels³.
If you believe this feature should be turned on or off for your team, please discuss with your Account Manager at TheGuarantors.
Coming soon for onsite teams: Confirm lease details in one click
Skip the time spent on back-and-forth emails. Soon, you’ll be able to confirm lease details for applications directly in the portal. Interested in early access? Contact your Partner Success Manager.
¹No outstanding claims, no outstanding balance, and all rent payments must have been made within 2 months of the payment due date throughout the initial lease term. Residents with balances <$1,000 will be treated as having no balance. Residents with claims, balances, or who fell >2 mo behind on rent will not be eligible for renewal.
²Note, pricing updates not applicable in DE, ME, MD, NV, TN, Atlanta (GA), and NYC.
³Coverage-level lock not applicable in NYC.
