With metro vacancy at 11.8% and two months free common at new communities, the problem isn’t supply. It’s who gets approved.
WINTER HAVEN, FLA
Apartment vacancy across the Lakeland metro remains well above its long-term average after one of the largest building booms in its history, yet renters who can afford those homes are still being told no. Cosign, a mission-driven housing access company founded by a team with decades of experience owning, operating and leasing apartments, is now working with property managers across the metro and around the country to change that.
According to CoStar, developers have expanded apartment inventory across the Lakeland metro by roughly 40% over the past five years, and about 60% of the units delivered so far in 2026 remained vacant at the end of the third quarter. Metro vacancy stands at 11.8%, above the national average of 7.9%, and two months of free rent is a common offer at newer communities. The homes are built and getting more affordable, yet screening rules built around a single credit score keep good applicants from signing.
Behind those numbers are renters across the metro, from Lakeland and Winter Haven to Haines City: a nurse in her first year on the job, a recent graduate starting a career, a mother rebuilding her credit after a divorce, a newcomer with steady work and no U.S. credit history. They can afford the rent. On paper, they don’t qualify, and most of them don’t have a parent who can sign for them.
At Haven at Lake Deer in Winter Haven, the leasing team has seen the difference firsthand. “One experience that stands out was a resident who had been denied through our previous screening process. Her credit had suffered after a difficult divorce, and she was worried about securing an apartment on her own. When Cosign approved her, she cried tears of joy, grateful for the opportunity to have a safe place to call home,” said Margie Lopez, leasing professional at Haven at Lake Deer. “Cosign gives people second chances, opens doors that might otherwise remain closed, and helps them regain their independence and peace of mind.”
Cosign was built for exactly these renters by three close friends who saw the problem up close and joined forces to take it on, brothers Zach and Jacob Schofel and their friend Phillip Newsom. Co-founder and CEO Zach Schofel spent years buying and running apartment communities, growing Eastman Residential to more than 3,000 units, and saw rigid, one-size-fits-all rules turn away residents his teams knew would pay. Jacob, an engineer, scaled technology at a publicly traded company, and Phil built property management companies from the ground up. Today their team includes former leasing agents and renters who once struggled to qualify themselves.
For renters who don’t have a parent or family member who can cosign, Cosign steps in and signs the lease as their cosigner. Rather than letting a single credit score decide, the company uses a dynamic, data-driven approach to approvals. As part of its mission-driven principle, residents who fall behind are never sent to collections by Cosign. Now working with property managers across more than 800,000 apartment units nationwide, Cosign opens more doors for recent graduates, independent workers, immigrants, Americans rebuilding after a setback, and others overlooked by traditional screening.
“Everyone talks about building more housing, and the Lakeland metro did. The apartments are here, and the renters can afford them,” said Zach Schofel, co-founder and CEO of Cosign. “What’s missing is a fair way to say yes, and what’s happening in Lakeland is happening in metros across the country.”
For more information, visit www.rentwithcosign.com.
About Cosign
Cosign is a mission-driven housing access company that helps renters who can afford the rent get approved for the homes they want. When a renter doesn’t have a family member who can cosign, Cosign signs the lease as their cosigner, using a dynamic, data-driven approach to approvals. Founded by a team with decades of experience owning, operating and leasing apartments, Cosign works with property managers on more than 800,000 apartment units in metros across the country to open doors for teachers, nurses, hourly workers, recent graduates, immigrants and everyone else traditional screening overlooks. Learn more at www.rentwithcosign.com.
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Cosign
https://www.rentwithcosign.com/
