Credit Risk Mitigation Policy

The Risk Mitigation Fee is a small monthly charge applied to certain applicants or tenants based on their credit history or past payment record. It is not charged to everyone, only when a credit report shows higher rental risk.

• Applicants with a FICO score of 700 or above: No fee is charged.

• Applicants with a score below 700: A fee may apply depending on the credit score.

• Current tenants with prior late or missed rent payments may also be subject to the fee.

The monthly fee is based on the applicant’s FICO score:

• 650–699 → $10/month

• 600–649 → $20/month

• 550–599 → $30/month

• 500–549 → $40/month

• Below 500 → $50/month

If more than one person is applying, we calculate the average FICO score of all applicants (excluding co-signers). That average determines whether a fee applies and at what level.

Applicants without an established FICO score are treated as if their score is 600, which may result in a $20/month fee.

Yes. Tenants may request a reassessment at any time by:

1. Submitting updated credit documentation, and

2. Paying the standard application fee.

If your credit score has improved, your fee may be lowered or removed altogether.

Yes. If our credit and background screening software issues a “conditional approval,” the applicant must pay last month’s rent in addition to the regular security deposit. This requirement is separate from the Risk Mitigation Fee.