The Landlord’s Guide to Online Rent Collection

Online rent collection

The Landlord’s Guide to Online Rent Collection

The average price of a 2021 rental property in Canada is $1675 per month — and that’s just for a one-bedroom! Managing sums of money this large can be stressful. Even the smallest error can lead to big mistakes. 

Finding the best tenants is just the first step. Getting your rental payments collected on time is an ongoing challenge, especially when you have more than one property. Online rent collection can take away some of the headaches associated with this task.

It’s up to every landlord to find the best solution to rent collection. But with social distancing measures, getting the chance to ensure your rent is paid without knocking on your tenant’s door can make a big difference. 

In the article below, we’ll explain why collecting rent online is an ideal solution. We’ll also go over some of the top methods, including bank e-transfers and peer-to-peer platforms.

SingleKey’s Guide to Online Rent Collection

Benefits of Online Rent Collection

In our technology-driven world, many of our daily tasks have moved online. From paying bills to ordering pizza, money transfer plays a big role in everyday interactions. 

Landlords across the country have seized the opportunity to employ fast, effective, and safe methods of collecting their rent without meeting with tenants face-to-face. Here are some of the reasons why

Lowers Risks of Managing Cash

When you’re a landlord, ideally you want to see a detailed credit report of everything you need to know to make an informed decision and choose the right tenant. The problem is if you only have limited information that can be tough. 

For example, if you only have a credit score, that doesn’t show you the full picture. How good is the rental applicant at making their rent payments on time? Does the rental applicant have missed payments on any of their credit accounts? Without these critical details, you could end up choosing the wrong tenant.

Fast Credit Checks

With no documentation of payment, accepting cash for rent puts you in harm’s way. You won’t be able to prove your tenant paid their rent, which can affect your bottom line should you lose the funds

Saves You Time

This is the most appealing benefit to landlords across Canada. Most online rent collecting takes care of the labour involved in the monthly task. You won’t have to input cheque data into spreadsheets or run to the bank to make deposits. 

Instead, you can spend time maintaining your property and increasing your investment.

Missed Rental Payments Less Frequent

Have you ever phoned tenants asking for their rent? How often do you hear them say they forgot to write a cheque or that it was the first of the month? Ensuring rent is paid on time is one of the biggest stressors in a landlord’s life. 

Thankfully, many online rent collection services offer automatic monthly payments. That means without a single phone call, email, or text, rent will be deposited in your account. You can also set up additional charges, such as: 

      • Utilities 
      • Damage Deposits
      • Charge-Backs 
      • Late Fees 

Builds Trust and Stronger Relationships

By removing rent from your conversations with good tenants, you can focus on strengthening your relationship with them. Associating your presence with relaxed conversations and improving the property means tenants will be more likely to phone you if something needs to be fixed or looked after.

How Safe Is Collecting Rent Payments Online?

No matter how you decide to collect rent payments, your financial safety is crucial. Choosing an online platform is not without some risks. But when compared to your other options, it’s clear that the benefits often outweigh the concerns. 

Online rental platforms are designed to keep your transactions safe. They are secure, and unlike direct deposit, don’t require you to give your banking information to your tenant. By staying away from cash and cheques, you’re also eliminating the risks of default payments, fraud, and scams. 

Again, the social distancing factor is also important when considering safety. Online rent collection helps you limit how often you visit tenants.

How to Collect Rent Online

When it comes to getting your rent paid online, you have two options: bank-to-bank transfers, and peer-to-peer payment platforms. We’ll go over both methods in detail below.

Bank-to-Bank Transfer Options

E-Transfer

E-Transfer lets your tenants set up automatic payments, and you’ll get an email notification once the rent has been deposited. This service isn’t free in the US, so many landlords there have to use third-party platforms. 

Most of the major banks in Canada, however, allow for free e-transfers. The process of this up is similar to paying bills, and it’ll only take your tenants a few minutes.

Check out these links for more bank-specific information.

Direct Deposit or ACH

This is a less frequently used method of online rent payment, but most of us know how it works. Many companies leverage ACH to pay their employees, so you’re tenants will know the basics. The problem is that it’s hard to set up yourself. 

You’ll need tenants to fill out and sign a mandate. They’ll also need your banking information to deposit the rent, which can impose a level of risk to privacy. For landlords with five, ten, or more tenants, this system can work. But we don’t recommend ACH for one- or two-unit landlords.

Peer-to-Peer Payment Platforms

PayPal

Paypal was the original peer-to-peer (P2P) payment platform, so most tenants will have some familiarity with it. In fact, they may even already have an account. The app is easy to navigate, and most types of payment are free. 

The downside is that you’ll have to transfer rent from your PayPal account to your bank, and that can take up to three days. 

Note: Venmo, Zelle, and Apple Pay can’t access Canadian bank accounts. So if you want to use a third-party P2P, PayPal is one of your only options. 

SingleKey Free Automatic Rent Collection

As part of our Rent Guarantee for landlords, we offer pre-authorized debit (PAD) services at no charge. Once you and your tenant are approved, we’ll send you a link to connect your bank accounts to our system. From there, you can set up a recurring payment that is taken directly out of your account. 

This is an add-on service to our Rent Guarantee program, which helps landlords get their monthly rent when tenants run into financial problems. You’ll need the following information to apply:

      • Tenant Credit Report
      • Proof of Income
      • Proof of Zero Bankruptcies 
      • Proof of No Previous Evictions
      • Valid Signed Lease

[Learn More About Our Rent Guarantee]

Choose Safe and Secure Online Rent Collecting

Offering tenants fast, easy, and reliable methods of online rent payment can go a long way to help them pay you on time. Whether you set up a monthly e-transfer at your bank or choose to use our Rent Guarantee, just make sure to write in your lease agreements how your tenants can pay. 

To add more security to your payments, try SingleKey’s Tenant Credit and Background Check report. Our detailed metrics help you find the right tenant for your property

The Top 3 Tenant Screening Tools in Canada: SingleKey vs Naborly vs RentCheck

Want to know the best tenant screening tools in Canada. We compare the top three apps in this head-to-head to help you find a winner.

The Top 3 Tenant Screening Tools in Canada: SingleKey vs Naborly vs RentCheck

Due to the massive delays with rental boards, Canadian landlords are feeling especially vulnerable in 2021.  As a result, it is very difficult for landlords to deal with delinquent tenants, and it’s not unusual for property owners to lose 6 months of rent or more.

These high risks make it even more important that landlords do a very good job of screening tenants before signing the lease. This helps to minimize the chance of signing on a delinquent tenant.

Luckily, we have researched the top 3 tenant screening tools in the Canadian market (based on popularity) to make sure that you have all the data you need to make a good decision on which tenant to rent to. 

SingleKey vs Naborly vs RentCheck: How to Choose a Tenant Screening Tool

Exploring the Features Landlords Care About

You’re looking for a service to help streamline the rental application process and do a better job screening your tenants. With that in mind, here are the features that landlords who are looking to do that should care about most.

Detailed Credit Report

When you’re a landlord, ideally you want to see a detailed credit report of everything you need to know to make an informed decision and choose the right tenant. The problem is if you only have limited information that can be tough. 

For example, if you only have a credit score, that doesn’t show you the full picture. How good is the rental applicant at making their rent payments on time? Does the rental applicant have missed payments on any of their credit accounts? Without these critical details, you could end up choosing the wrong tenant.

Fast Credit Checks

When choosing tenants, you want a credit check that’s fast. In today’s rental environment where there are more vacancies in a lot of markets than in pre-COVID times, if you take too long to get back to a prospective tenant, by the time you’re interested in renting to them, they could have already signed a lease at another place.

To avoid unfortunate situations, it’s important to choose a credit check service that’s fast. Ideally with a service you can find out a tenant’s credit score in less than an hour and be able to make your decision about whether you want to rent to them shortly thereafter.

Easy to Understand Reporting

Have you ever tried to read a credit report and been confused about what you’re looking at? It’s great to receive a tenant screening report in a timely manner as long as you can understand it. 

Most credit reports are written in language for lenders to understand, not landlords. You ideally want a tenant screening report that’s already deciphered for you so you have all the information you need to pick the perfect tenant.

Streamlined Rental Application Process

Rental applications can be tedious and a pain in the neck, but they don’t have to be. Imagine having rental applicants complete a rental application by hand and then having to key in all the information online to receive a tenant screening report. Imagine doing that for dozens of applicants. 

If you’re looking to save time, you’ll want a rental application process that’s automated. By having prospective tenants complete the application online rather than by hand, you’ll save yourself a lot of time and headaches.

Consider a Rent Guarantee

One of the biggest fears as a landlord is that you’ll have a tenant who refuses to pay the rent. It might not even be the tenant’s fault. They could be laid off at work due to COVID-19.

Choosing your tenants wisely is more important than ever. In 2021, it can take anywhere from six months to a year to evict a bad tenant. During all of this time you’ll be expected to continue to make your mortgage payments even if you don’t have rent coming in from the tenants. 

That’s why it’s helpful to use a service that offers some sort of rent guarantee. That way if the tenants can’t pay the rent, at least you’ll receive some money so you can still make your mortgage payments on time and protect your credit score.

Help Removing Bad Tenants

Let’s say all else fails and you need to remove a bad tenant. What do you do? You want a service that provides you with the help and resources that you need to evict bad tenants in a timely manner so that you can get good tenants in your place and keep making the mortgage payments. The last thing you want is to feel like you’re on your own and to have to figure it all out yourself.

Good Customer Service

When you need help, you want good customer service that responds to your own individual needs. While you’d like to think that you can figure out everything on your own, even the smartest of people need help. 

Some customer services leave a lot to be desired. You can wait days for a response or never receive one. Ideally you want to use a service with customer service that is responsive and who answers your questions within minutes or hours.

Comparing Canada’s Top Tenant Screening Tools

We highlighted some of the important distinctions between the three screening tools. Find out which one is right for you below.

Service Fees

SingleKey and Naborly have no membership fees and only charge $25 per report; it’s pay as you go. RentCheck has a membership / setup fee of $30 to 75 and then charges $38+ for their tenant report. They are by far the most expensive, but they do offer discounts to various organizations.

For small individual landlords looking for an affordable option, SingleKey and Naborly are your best bet. If you’re a landlord for a living with several dozen doors, that’s when a service like RentCheck can make more sense.

Ease of Use

Both SingleKey and Naborly make it very easy for landlords to sign up and place an order. When the report is ready, both of their reports are visual and intuitive to read. 

We really like how SingleKey brings the top 4 most important metrics at the very top and displays them as colorful gauges, which include:

You can quickly glance at these numbers and get a feel for the applicant’s credit quality and their ability to pay the rent.

Tenant Application Process

SingleKey and Naborly have a tenant application where you can invite a tenant with their email and they will send them a comprehensive Rental Application form to collect their information and consent. 

In this form, tenants can also upload proof of income, photo ID, and pet pictures. Rentcheck did not have this functionality.

We have to give the edge to SingleKey here as tenants find it easier to fill out, and many fields are optional.

Lastly, SingleKey also sends tenants text message invites, so they can apply on their phone, making the application process that much easier. That’s why they win this category.

Payment Options for Tenants

Both SingleKey and Naborly offer this feature – when they invite a tenant to fill out an application, they can choose to have the tenant make a credit card payment at the end. This is a lot better than asking your tenant to pay cash for the credit report, especially during COVID times. RentCheck does not offer this option, which is a real letdown.

Credit Report Quality

SingleKey’s report breaks down the balance owing, and monthly rent payments for each trade. They also include collections and bankruptcy details in the report. 

On the other hand, Naborly does not show the trade-by-trade breakdown but instead will roll up their total balances and payments – this seems to be a lower-tiered Equifax Report, making it never very useless. RentCheck also claims to offer a full credit report, and given the higher price point we assume that they have the same level of detail as SingleKey.

SingleKey and Naborly both get their credit information from Equifax, which is the preferred credit reporting agency. With RentCheck you can choose to order an Equifax or Transunion report, or pay extra to get both ($51), which is nice if you want to be extra cautious, but isn’t necessary in a lot of cases.

Tenant Court Record Check

SingleKey is the only company that includes a Court Record check in their $25 reports, which really sets them apart in terms of value. 

This feature provides an analysis of over 200,000 databases from each province looking for criminal records, court decisions, negative press, public biographies, past employment, past addresses, and more. The best part is that this report is done in only 5 minutes, making this the fastest court record check in Canada!

National Criminal Record Check

None of the 3 providers include a National Criminal Record Check as part of their standard pricing. However, RentCheck does offer the ability to upgrade to a police check for an additional $60. 

This may be worth it depending on how thorough you want to be. If you’re a landlord for a living and renting out places on a monthly basis, this feature may be worthwhile for you. For part-time landlords, it probably isn’t necessary.

Getting Started

SingleKey and Naborly both allow landlords to create an account instantly via their automated enrollment process, making the sign up process super easy and simple. Meanwhile, RentCheck quotes a 4 hour account verification turnaround time. In this category we give the slight edge to SingleKey and Naborly.

Time to Create a Report

The rental market moves fast, so it’s important that your tenant screening can be done quickly, otherwise you could miss out on good quality tenant. Both SingleKey and RentCheck offer almost instantaneous credit check results, while Naborly quotes a 90 minutes turnaround time.

Our Top Pick Is…

While RentCheck is a trusted company with a long history in this space, since 1976, unfortunately their technology and website design has not kept up with the times.  Naborly and SingleKey offer a sleek and smooth web interface and allow for much more functionality for both landlords and tenants. They are cheaper as well, which helps!

Based on the comparison results above, it’s clear that SingleKey is the best credit checking service in Canada. The product wins for 3 main reasons: 

Singlekey Is the Best Tenant Screening Tool in Canada

Canadian landlords know a good thing when they see one. Singlekey’s tenant screening tool offers the best overall functionality, features, and value. To find out more, head over to our services page. Or, if you have a specific question to ask our team, get in touch!

What Should Landlords Look for in A Tenant Credit Report?

how to read a credit report for landlords

Being a landlord in today’s rental market requires diligence and experience. To avoid leasing their units to risky tenants, most landlords rely on tenant credit checks — it’s a foundational part of the tenant screening process. While these checks are very insightful, even seasoned landlords can overlook important information.

SingleKey offers a great way for landlords to screen tenants via our Tenant Credit & Background Check. We have helped landlords across Canada screen and verify thousands of prospective tenants, providing them with insights to help them make renting risk-free and hassle-free. To help landlords learn how to read the SingleKey tenant screening report, we’ll review the top 5 tenant credit check metrics.

how to read a credit report for landlords

Don’t forget to check out our sample tenant credit check report. We’ll be using it as a reference throughout this article.

How to Read a Credit Report for Landlords: 5 Key Tips

  1. Learn the Difference Between Poor, Good, and Great Credit Scores

The first risk indicator landlords typically review is the credit score. SingleKey uses an Equifax ER 2.0 score to create an accurate picture of the tenant’s financial health. A credit score is a useful metric encompassing the entire spectrum of a prospective tenant’s financial standing, including: 

      • Payment Behavior
      • Debt 
      • Income
      • Outstanding Debt
      • Late Payments

The average Canadian has a credit score of 630. So tenants with a score ranging from 600 to 700 are considered to have an average score. When reviewing rental applicants with a score below 600, landlords may want to look more carefully. A credit score below 500 is likely due to poor payment behaviour or a recent bankruptcy, indicating the riskiest applicants. 

tenant credit report for landlords

While a low credit score doesn’t mean that a tenant will be delinquent on rent, we can safely make the assumption that a tenant who doesn’t pay their bills on time is more likely to not pay their rent on time.

  1. Identify the Types of Debt the Tenant Owes

Another key piece of information on our tenant credit reports is debt. While large amounts of any debt aren’t a great sign, it’s important to understand that not all debt is created equally.

High-Interest Debt

landlord-tenant-credit-checks

Credit cards and risky loan options, such as payday loans, are high-risk debt because of their higher interest rates. Also, payday loans are often the last resort for borrowers and can indicate the tenant may be going through financial hardship.

Low-Interest Debt

On the other hand, debt categories like mortgages and HELOCs (Home Equity Lines of Credit) are significantly less risky because of the lower interest rates and the asset securing the loan. Also, individuals can rent out their property to cover the mortgage payment. 

Student debt and car payments are forms of debt that aren’t as risky as credit cards or payday loan debt. What is important here is whether the applicant has been able to make regular payments.

  1. Tally Up the Total Monthly Debt Payments

Credit reports outline the number of regular payments that a person has to pay towards items such as an auto loan, credit card, or cell phone. It is important to review these monthly payments because they show the portion of the applicant’s income going towards recurring expenses and bills.

For example, in SingleKey’s sample credit report, the “Payment Term Amount” shows how much money is to be paid, while the “Narrative” explains the frequency of payments.

tenant monthly debt payments

To give you a real-world example, if the applicant’s pre-tax income is $3000 per month but they have to pay $1000 towards their credit card and car loan payments every month, this doesn’t leave much behind to cover rent and living expenses.

  1. Calculate the Rent-to-Income Ratio

It’s important to know if the tenant can actually afford the expense of renting a unit. A landlord should consider how the tenant’s monthly income compares to how much they will have to pay for monthly rent. To simplify the process, SingleKey’s tenant credit report calculates the rent-to-income ratio so you won’t have to worry about it.

Looking at the tenant’s rent-to-income ratio gives you a good sense of affordability. If they make $3000 per month, but are applying for a unit where the rent is $2000 per month — that’s a red flag.  

We also suggest going one step further and using the (rent + debt payments) to income ratio. With this formula, both their monthly debt payments and their rent are used to get a better grasp on how much they can really afford. 

Our data shows affordability is one of the top predictors of tenant rent default. If a tenant is spending more than 50% of their income on rent, there won’t be much left to save for a rainy day. In this scenario,unexpected expenses or job loss would cause the tenant to stop paying rent.

  1. Focus on Collections and Bankruptcies

Collection items and bankruptcy demonstrate financial responsibility, and remain on a credit report for 6 years and have a significant impact on credit scores. Collections and bankruptcy can happen, but it’s important to ask the right questions when you see them on a tenant’s credit report.

1. What was the amount owing?

The amount owing is an important factor in determining how detrimental the outstanding payment is to the applicant.

2. How old is the default?

In cases where a bankruptcy occurred 5 years ago, that is not nearly as important as when the bankruptcy is fresh. The older the bankruptcy, the less financial strain the applicant is under. 

3. What type of debt was it?

If a collections item is for a payday loan, that is much more worrisome than if it was an outstanding phone bill.

Collection items and bankruptcy demonstrate financial responsibility, and remain on a credit report for 6 years and have a significant impact on credit scores. Collections and bankruptcy can happen, but it’s important to ask the right questions when you see them on a tenant’s credit report.

KEY TAKEAWAYS

The 5 Things Landlords Should Look Out for on a Tenant Credit Check

  1. Credit Score
  2. Amount of Debt and Type of Debt
  3. Monthly Debt Payments
  4. Rent-to-Income Ratio
  5. Collections and Bankruptcy

Find the Right Applicant with Single Key’s Tenant Credit Report

Being smart with your tenant screening process keeps your renting risk-free. A good tenant will not only have a stable income, but they’ll have a reassuring financial history. Keeping in mind the 5 key risk indicators in this guide will help you get the most out of your tenant credit report and raise any red flags that you should be aware of. 

If you are looking for the best tool to screen your tenants, consider the SingleKey Tenant Credit and Background Check report. The five metrics we just reviewed are at the top of every report. 

Don’t forget that we also offer a free tenant review call to help walk you through the tenant report results, so book a call with us any time.

How to Screen for Great Tenants

“It’s none of your business what my credit score is!!” How’s that for a start?

Tenants that are soon to live in your property can come in all types : good, bad, really bad. This is why you should do your due diligence before renting out your unit.

If it sounds stressful, don’t worry!

Luckily, we’ve put together a step-by-step guide to screen for great tenants and included some tips along the way. 

1. Looks are Deceiving, A Credit Report is Not

After narrowing down your potential tenants to a short list, it is time to select the best one.

A credit report reveals a detailed breakdown of an applicant’s credit history. Credit bureaus are responsible for collecting financial information and a credit report is a great tool to get this info.

An individual’s prior financial history is a good indication of what they will do in the future. Chances are that if someone consistently pays their bills on time, they are most likely to pay their rent on time as well.   

Here is what to look out for in an Equifax credit report: 

    1. Personal Information – such as tenant’s name, address, date of birth and employment information. Make sure that this information matches the info on rental application.
    2. Payment Behavior – how often the applicant is late on their debt payments. Poor payment behaviour will be reflected in the credit score. 
    3. Credit Accounts Information –  the types of accounts, when they were created, the limits and amounts for these accounts as well as payment history.
    4. Debt Type and Amount – The debt amount is not the only important factor, mortgage debt is much safer than credit card debt and as the interest rate will be much lower.
    5. Type of Inquiry –  hard credit bureau inquiries can negatively impact the tenant’s credit score if done too often, soft inquiries do not. A tenant credit check is a soft inquiry.
    6. Public Records and Collections – from public court records such as bankruptcies, collections files, convictions and sometimes past eviction judgements.

View our comprehensive
tenant screening report

2. No Income, No Rent

Credit check looks good? Awesome! 

But how often has your tenant switched jobs and addresses? If the answer is “often”, there is a chance you may have an unexpected vacancy in the near future.

These tenants may have the risk of losing their income and not being able to cover rent.

Another thing to consider is that individuals who work for a salary usually have a safer way to make money rather than those who depend on self-employment or freelance contracts. 

So what should you do? 

Always check the tenant’s source of income, check its reliability and compare it to the required rent payments. Alongside their income, double check their prior addresses and employment history to make sure they’ll be able to pay rent on time.

Not only this, but find out the amount of debt your prospective tenant has, and the monthly interest they are paying. This is important because if your tenant is paying $1000 or more in debt payments, they may not be able to afford the rent.

This credit report will tell you exactly what their total monthly debt payments are.

Tenant rent to income ratio screening tenants credit check

Quick Tip

Create a rent-to-income ratio. Take your prospective tenant’s monthly rent and divide it by their monthly household income. If the rent is over 30% of their income, recognize they are more likely to be delinquent.

An ideal candidate should have additional income to cover the rent payments in the case of unexpected expenses. 

If your tenant has been consistently changing addresses and jobs, be wary of them doing the same with you.

3. Run a Background Check

A background check is used to investigate a candidate’s history. It generally includes employment, education, criminal records, credit history, motor vehicle and license record checks. 

So how do I run a background check? 

It’s easy! All you need is:

  1. Tenant’s Full Name
  2. Driber’s license or Social Security Number (both optional)
  3. Date of Birth
  4. Current Address

4. Contact the Previous Landlord

The more information, the better. See if it is possible to contact the former landlord. Chances are the previous landlords will happily share their experience with your prospective tenant. They will relate to and understand your questions and will be inclined to help a fellow landlord.   By reaching out, you would be surprised by what you can find out!  While respecting the landlord’s time and not being too pushy, you should look to acquire more insights on the prospective tenant. Here are some sample questions that you can ask the former landlord:
  • Has the tenant paid you all the rent?
  • Does the tenant pay on time?
  • Has the tenant caused damage to your property?
  • Were they respectful towards the neighbors?
  • Would you rent out your property to this tenant again? 

Quick Tip

It is always better to try and contact more than one landlord in case they are just trying to get rid of their past tenant.

5. Join a Facebook Group

Have a question stuck on your mind but don’t know who to ask? Join a Facebook group of landlords from your province. 

Members of these groups share stories about their experiences and will provide advice that can help you with your current situation.

They will also often share information amongst the group about delinquent tenants and it might save you hours of figuring that out on your own. 

The Facebook admins assist with all questions relating to the Residential Tenancies Act and will help answer your questions!

Landlord Facebook Groups Across Canada

6. Interview the tenant

Have you taken all the steps to screen for a great tenant? Well, it still might not be enough. You can spend weeks screening a tenant but sometimes your instincts are the best judgement. 

Think of the screening as weeding through the candidates that you certainly do not want living in your property.

Quick Tip

When hiring a realtor, their objective is usually to find a tenant in the shortest amount of time. So you might end up with an average tenant rather than a great tenant, which may result in problems over time.

After thoroughly screening your prospective tenant and confirming they’re good on paper, talking to them over a cup of coffee might be the best screening of all.

“Talk to them? About what?” 

Well, first things first, ask about what you want to find out. You should ask about their past renting experience, and see if their story aligns to their references and feedback from past landlords. 

An easy way to start up that conversation is by saying “I know how difficult landlords can be when it comes to their property. How was your past relationship with the landlord?”

You might just find out that they’re in court right now for an eviction.

Final Word

As a landlord, you cannot rely on the paperwork alone to carry out a tenant background search. You have to be creative and willing to engage with tenants on a personal level. Conversations can help you better understand the way your tenants relate to others and how they handle conflict, all of which are essential to achieve the best tenant screening.

Following these 6 steps will minimize the risk involved in renting your unit. Investing in proper tenant screening pays off down the road. With SingleKey, you can get a comprehensive tenant screening report in minutes, including a background check, credit report, employment history, past addresses and evictions, and criminal record.