Cosign Launches in Phoenix as Record Vacancy Collides With Outdated Approval Standards

Guarantor Platform Helps Properties Approve Qualified Renters as Concessions Climb and Rents Fall

PHOENIX, Sept. 21, 2026 /PRNewswire/ -- Cosign, a third-party guarantor platform and cosigner alternative designed to expand renter access while protecting property owners, has launched in the Phoenix-Mesa-Chandler MSA as the Valley works through some of the highest apartment vacancy in the country.

According to CoStar, apartment vacancy across Maricopa County and the broader Phoenix-Mesa-Chandler MSA sits at 10.8%, still near the highest level since the Great Recession despite improving from a peak of 12.6%. The metro ranks among the nation's top 10 highest-vacancy markets, alongside fellow Sun Belt builders like Austin, Charlotte and San Antonio. Asking rents fell 1.2% over the past year, and operators are leaning harder on concessions, with 10 or more weeks of free rent now common at newly built communities.

At Zendoor, a Phoenix-based multifamily property management company, the team has adopted Cosign to help streamline apartment approval for renters who can afford the rent but get screened out by rigid legacy criteria.

"At Zendoor, we're seeing that many renters who may not meet traditional screening criteria can still be responsible, qualified residents," said Jessa Mae, the resident support team lead at Zendoor. "Having flexible solutions that give these applicants another path to approval can help property managers reduce unnecessary denials while making it easier to fill homes across the Phoenix market."

Founded by real estate owners and operators, Cosign uses a data-driven underwriting model that evaluates payment behavior and recency rather than relying solely on credit scores. The platform is designed to help owners fill units faster without lowering standards, a case that matters most in markets like Phoenix where every leased unit counts against a deep supply overhang.

"Phoenix is a market where owners can't afford to lose a qualified renter over a technicality," said Zach Schofel, co-founder and CEO of Cosign. "When vacancy is this high, the properties that win are the ones saying yes to renters who can actually pay, and that's exactly what we help them do."

For more information, visit www.rentwithcosign.com and follow on social media @rentwithcosign.

About Cosign
Cosign is a real estate technology company and lease guarantor service that bridges the gap between qualified renters and landlords. Founded by real estate professionals, Cosign's mission is to expand housing access through data-driven underwriting that considers payment behavior, not just credit scores. Active in more than 600,000 units across 3,000+ communities nationwide, Cosign is helping modern operators approve more qualified renters in both tight and oversupplied markets. For more information, visit www.rentwithcosign.com.

SOURCE Cosign