What is the cost of this service?

We offer our landlords FREE access to our Rent Collection service for up to 3 ongoing monthly rent collections for an unlimited period of time. For example, if you are collecting rent from 3 tenants, you will pay $0 per month. For more than 3 tenants, we charge $5 / month per additional tenant.

How do I manage my payments?

Upon completing your rent collection on the SingleKey platform, you will have access to your rent collection dashboard, which will: • Provide payment status • Enable delaying or skipping payments • Allow cancellation of rent collection at the end of the lease

Can I make changes to my collections?

Yes, you will be able to make these changes at anytime: • Delay next month’s rent collection • Skip next month’s rent collection • Cancel your monthly rent collection

What happens when tenants miss a payment?

We will notify both you and the tenant of a missed payment. We suggest landlords reach out to tenants who missed a rent payment to ensure they get paid. If the tenant does not pay rent, then we suggest the landlord follow the appropriate procedures to mediate and / or evict per the appropriate legal guidelines in the dwelling’s jurisdiction. Note: if you are signed up for the Rent Guarantee, SingleKey will help mediate and evict delinquent tenants working with our paralegal partners.

How long does it take for payments to process?

Typically, it takes 3-4 business days for the payment to be completed. In most cases, it should be complete within 24 hours. Note that if payment date falls on weekends or holidays, the rent collection process will begin the next business day.

Do you notify my tenant(s) when rent is due?

Yes. We will send a notification email to your tenant(s) 2 days before the rent is due so they can make sure they have sufficient funds in their account. When setting up your rent collection, you will invite your tenant(s) via email to accept the Rent Collection terms and to connect their bank account.

How will this impact my tenant's credit score?

We want to help tenants improve their credit scores over time. In order to do this, all payments managed by our platform will be reported to the credit bureaus, including on-time, late, and non-payments. Payments made on-time will help improve the score, while missed payments will reduce the score.

How safe is my banking information?

Note that SingleKey does NOT collect and store your bank login credentials. We only store your bank account number in order to determine where to deposit your rent payments. We are partnered with a leading Canadian payment provider to facilitate rent payment collection. The security of your information is very important for us and our partners. We employ the latest data encryption and security protocols to keep your information safe.

Tenant Insurance Revenue Calculator for Property Managers

Tenant Insurance revenue calculator

See how much revenue tenant insurance could generate for your portfolio. Offer SingleKey Tenant Insurance to your tenants and earn revenue when they get covered. Use the calculator to estimate your potential revenue.

How many rental units do you manage?

0 2,500 5,000 7,500 10,000

What percentage of tenants do you expect to enrol?

0%50%100%

Estimated annual revenue

$180,000

Based off of 2,500 estimated enrolled tenants

How your estimate is calculated: Your estimated revenue is based on the number of units you manage, your expected tenant enrollment and $6 in monthly revenue per enrolled tenant. Actual enrollment and revenue may vary.

Interested in offering Tenant Insurance to your tenants?

Why Tenant Insurance matters for your properties

Tenant Insurance gives your properties an added layer of protection while making it easier to manage coverage across your portfolio.

Help protect against tenant-caused damage

If a tenant accidentally damages your property, their liability coverage can cover eligible repair costs.

Stay on top of tenant coverage

Get notified when a tenant’s coverage starts or is cancelled, so you know when their insurance status changes.

Make it easier for tenants to get insured

Give tenants a direct way to purchase Tenant Insurance through SingleKey.

How it works

Invite your tenants

Send tenants a custom-branded invitation to get Tenant Insurance through SingleKey.

Tenants get covered

Tenants choose and purchase their coverage through SingleKey, with insurance provided through Walnut.

Earn revenue and stay informed

Earn revenue when tenants get covered, and get notified if their coverage is cancelled.

Tenant Insurance can help protect against the financial impact of tenant-caused damage, while SingleKey makes it easier to get tenants insured and stay informed on their coverage.

What your tenants get

SingleKey partners with Walnut, a licensed Canadian insurance broker, to offer Tenant Insurance directly through our platform.

personal_injury

Personal Liability

Up to $2,000,000

Helps protect tenants if they accidentally cause property damage or someone is injured.

Example

Let’s say your tenant’s friend slips on their wet kitchen floor and breaks their wrist. Walnut covers their medical bills and the legal costs if they decide to take you to court.

weekend

Personal Property

Up to $25,000

Helps cover belongings like furniture, clothing and electronics if they’re damaged or stolen.

Example

Let’s say someone breaks into your tenant’s apartment while they’re away and takes their laptop, TV, and jewellery. Walnut helps them replace everything that was stolen.

hotel

Additional Living Costs

Up to $4,000

Helps cover temporary living costs if a covered event makes their home unlivable.

Example

Let’s say a small kitchen fire leaves your tenant’s apartment unlivable for a couple of weeks. Walnut covers their hotel stay and meals while the repairs are being finished up.

FAQ's

Where is SingleKey Tenant Insurance available?

Tenant Insurance is currently available in Ontario, Alberta, British Columbia, Manitoba and Nova Scotia.

How much does Tenant Insurance cost tenants?

Plans start at $19.80/month. The final price depends on the coverage the tenant chooses, including their personal property and liability coverage.

What happens if a tenant cancels their coverage?

We’ll let you know if a tenant activates or cancels their coverage, so you can stay up to date on their insurance status. If they cancel, their coverage continues until the end of their current billing period.

What happens if a tenant needs to make a claim?

Tenants handle claims directly through their SingleKey account. They can submit their claim information and supporting documents online, and an adjuster will follow up with them.

How and when is revenue share paid?

Revenue share is calculated based on eligible Tenant Insurance policies purchased through your portfolio and paid out monthly.

Are there minimum portfolio requirements?

There’s no standard minimum portfolio size. Eligibility may vary, so talk to our team to see if the program is a fit for your properties.

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