Low Credit Score or No Credit Score Isn’t Always High-Risk For Rent Payment
An insufficient credit score is the No. 1 reason why apartment operators deny prospective residents’ applications. It doesn’t have to be that way, says Tyrone Poole, founder of a new industry application and payment tool, OneApp.
OneApp serves as a co-signer for its qualified applicants, which apartment operators say is often the single thing that would enable them to accept applicants whose credit scores don’t meet the minimum standard set by the communities. Together, Knock + OneApp are working to not only break down barriers to access housing but keep people in housing.
Paul Bergeron is a freelance reporter who has covered the apartment industry for 20+ years, including with UNITS magazine of the National Apartment Association.