Cosign Expands to Montgomery as Rental Affordability Tightens

The Montgomery apartment market currently struggles with a disconnect where new supply outpaces demand, yet many potential tenants remain locked out due to outdated screening requirements. While vacancy has surpassed both five- and 10-year averages, many workforce housing communities find that prospective residents fail to meet standard income or credit thresholds. With the average monthly rent now sitting at $1,108, the pressure on local renters has reached a point where traditional qualification models no longer align with economic reality.

Foshee Residential, which operates 13 communities in the Montgomery MSA, has begun utilizing the platform to bridge this divide. Regional manager Beau Daniel noted that the service allows the management team to approve applicants who might otherwise be rejected due to a lack of a personal cosigner. By shifting the underwriting focus toward payment behavior and recency rather than static credit scores, the company aims to broaden the renter pool without sacrificing financial security for property owners.

Zach Schofel, co-founder and CEO of Cosign, argues that the local rental market is evolving faster than established qualification rules. As rent growth in Montgomery continues to outpace regional income gains, the platform provides a mechanism for owners to maintain occupancy levels while offering a pathway for residents who possess the means to pay but struggle with historical credit metrics.