Cosign Launches in Montgomery as Rents Continue to Climb Across Alabama

Third-Party Guarantor Platform Offers Ability to Approve Qualified Renters as Affordability Tightens

MONTGOMERY, Ala., Aug. 7, 2026 /PRNewswire/ -- Cosign, a third-party guarantor platform and cosigner alternative designed to expand renter access while protecting property owners, has launched in Montgomery as rents continue to climb across the state.

According to data from CoStar, Montgomery's apartment market reflects a growing disconnect between supply and qualified renters. Apartment vacancy has climbed to 11.8%, above both the five- and 10-year averages, while demand has absorbed fewer than half of the new units delivered over the past year. Vacancy is highest among workforce housing communities, where many prospective residents are most likely to fall short of traditional income or credit score requirements. At the same time, rents have increased 2.6% year over year, more than triple the national average, putting additional pressure on renters in a market with an average monthly rent of $1,108. As more new units enter the market, property owners are looking for ways to convert qualified applicants who might otherwise be denied into approved residents.

At Foshee Residential, that gap has become a regular part of the leasing conversation. With 13 communities across the Montgomery MSA, management adopted Cosign as a cosigner alternative to solve exactly that problem. When renters fall just short of standard qualification criteria and have no cosigner to rely on, Cosign steps in as a third-party guarantor and cosigner alternative, allowing Foshee's Montgomery properties to approve more residents while maintaining financial protections.

"At Foshee Residential, we're committed to creating communities where residents can thrive," said Beau Daniel, regional manager at Foshee Residential. "Cosign, as a third-party guarantor, has helped us expand opportunities for qualified applicants who may not meet every traditional screening requirement and lack a cosigner. It gives our team additional confidence during the approval process and creates a smoother experience for prospective residents. It's been a valuable tool that helps us lease more efficiently without compromising our standards."

Founded by real estate owners and operators, Cosign's underwriting model evaluates payment behavior and recency rather than relying solely on a credit score, an approach designed for renters across the Montgomery MSA whose income has outpaced their credit history.

"Montgomery renters are dealing with the fastest rent growth in Alabama on some of the lowest incomes in the region," said Zach Schofel, co-founder and CEO of Cosign. "When rents move that quickly, the renter pool changes before the traditional credit score requirements and qualification rules do. Cosign gives owners in Montgomery a way to keep up."

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 500,000 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.

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SOURCE Cosign