Payscore Rent Guarantee
Turn almost-qualified applicants into signed leases
Approve applicants who miss your income or credit criteria by a little, with rent guarantee insurance built right into Payscore. Your rent is protected, and it costs your properties nothing.
- Free for properties
- Decisions usually within an hour
- Claims paid within 5 business days
Approval letterEvery almost-qualified applicant is a lease on the line
Many applicants who fall just below a 3x income rule, or come up short on credit, would pay reliably. These include self-employed workers, new grads, young professionals and newcomers to the US. Decline them and the unit sits. Ask for a personal guarantor and leasing stalls.
Payscore Rent Guarantee gives you a better option. You approve the applicant, and a guarantee stands behind the lease.
How Payscore Rent Guarantee works
Turn it on once
Enable rent guarantee in Payscore, and your properties are activated within a few days.
Refer in one click
When an applicant’s income report falls short of your criteria, refer them from the applicant page, or let Payscore do it automatically.
The applicant applies
They opt in and apply online, with no documents and only a soft credit check. Most decisions come back within an hour.
Sign the lease
Download the approval letter from Payscore and move to lease signing.
What it means for your portfolio
Higher occupancy
Convert conditionally approved and declined applicants into residents from the pipeline you already have.
Protected rent
If a guaranteed resident defaults, your property is reimbursed up to its coverage amount, from 3x to 12x monthly rent. Approved claims are paid within 5 business days.
Faster time to lease
Referrals go out the moment the income report is done, so fewer applications stall and units fill sooner.
No cost, no new workflow
The applicant pays for the guarantee. Your team refers, tracks and downloads approval letters without leaving Payscore.
Payscore Rent Guarantee vs. a personal guarantor
| Personal guarantor | Payscore Rent Guarantee | |
|---|---|---|
| Who backs the lease | A relative or friend | A third-party guarantor, with your property as beneficiary |
| Your team’s work | Find and verify a second person | One click from the income report |
| Time to a decision | Days, depending on paperwork | Usually within an hour |
| Cost to your property | None | None |
See it on a real applicant
In a short demo, see how a referral goes from income report to approval letter, and what it could mean for occupancy across your portfolio.
Book a demoRent guarantee insurance FAQ
Approve more of the applicants you already have
Book a demo to see Payscore Rent Guarantee in action.
Book a demoAlready a Payscore customer? Ask your account manager about turning it on.
Payscore Rent Guarantee is provided through Cosign, Inc. Payscore doesn’t underwrite, price or approve guarantees. Eligibility, pricing and coverage terms are set by Cosign, Inc. and governed by the agreement each applicant signs. Applicant information is shared only after the applicant agrees to the referral. [Payscore may receive compensation when a guarantee is issued.]