Your home is advertised to the general public for rent at $1400 per month with an equal deposit. You have received an application from John and Mary Wilkes. You’ve viewed their credit report, verified the income, and spoken with the current landlord. You are concerned because their credit is damaged and they have a few late payments in the rental history report.

You’ve interviewed the Wilkes and are comfortable with them but you are still concerned about leasing the home to them. The Wilkes provided you with a valid explanation about the poor credit and late rental payments. 

During the interview you mentioned to them about paying an additional deposit because of their poor credit history and recent late rental payments. The Wilkes understand your concerns but inform you that paying an extra deposit would make it very difficult for them to move in and maintain their other financial obligations. 

Before you deny the file based on the credit and rental history obtain a free quote. Based on the information you provided, the Wilkes’ will have to pay an initial installment of $300 and $44.14 per month for the duration of the Lease Agreement. With that, you add the cost of the installment and monthly payments into the lease agreement. The Wilkes’ move in cost is as follows:

You explain to the Wilkes that because of their poor credit and recent rental late payments there will be a slight increase in the rental amount and move-in costs. You further explain to them that this option is better than them paying an additional months rent upfront. 

Once everyone agrees to the terms, forward a copy of the signed Rental Payment Assurance to CoSign My Lease and the payment of $344.14 ($300 Initial Premium and the 1^st monthly payment of $44.14). It's that simple!