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FAQs

What is the OneApp Guarantee?

The OneApp Guarantee is a co-signing product for renters who need a qualified co-signer to qualify and get moved into housing.

How much does it cost?

There is $0 cost to PMs

How do I sign up to start accepting the OneApp Guarantee?

Just let us know that you want to participate and begin using our product and we will send you a Participation Agreement.

What does the OneApp Guarantee cover?

The OneApp Guarantee will cover up to 3 months of lost rent and damages if the renter defaults, skips, or is evicted. The Guarantee convers those losses at anytime during the lease term or until the unit has been re-rented.

What happens when the lease expires and is renewed? Is the renter still covered under the OneApp Guarantee?

No, once the lease expires, the Guarantee also expires. The renter would need to apply for another Guarantee for the next lease term if they still do not qualify under your standard screening criteria without the guarantee.

What are the benefits of using the OneApp Guarantee?

- Provides assurance to the Property Manager better than a standard co-signer.
- Vacancy loss is reduced.
- Guarantees rental losses, which increase NOI.
- Increases rental traffic to your property.

Is there a Contract?

No, there is not a contract but we do ask that you complete a Participation Agreement that provides us with the information of all the properties that will be accepting the OneApp Guarantee, which includes the contact name and email. The PM must acknowledge the agreement which outlines the terms of the agreement with the renter.

How long is the OneApp Guarantee valid?

The OneApp Guarantee is valid for the term of the lease which can vary based on the properties requirement. The OneApp Guarantee fee is calculated based on the lease term.

What if the renter renews their lease?

If you require a new guarantee on a renewal lease the renter will need to requalify. The minimum lease is 12 months.

Am I required to accept a OneApp Guarantee?

No, you are not required to accept a renter with a OneApp Guarantee. The decision is ultimately up to the Property Manager.

Does the renter still have to comply with the Terms and Conditions of the Lease?

Yes, the renter is obligated to all of the Terms of the Lease agreement.

How do I file a default?

You will need to start the default claim process by first completing and submitting the default claim form from the Resident Tab.

How long do I have to get the vacant property ready for lease?

You agree to have the vacant property turned within 10 business days of the vacate date. We realize there will be exceptions to this guideline.

How will I know that I will get paid if a Renter should default?

OneApp Guarantee holds an escrow account to cover all default claims. Just click on Start a Default Claim to recover lost rent and damages up to 3x the rental rate.

How quickly will I get paid?

Payments of lost rent will be made to the property in full once the property has been re-rented and a new renter has signed a lease. The Property Manager will need to provide the new incoming lease agreement showing the new lease dates.

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