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Rent Guarantee

Questions about Rent Guarantee? See some of our most popular answers below!

Rent Guarantee
What is the Tenant Passport?
Rent Guarantee for Tenants!Whether you’re a student, a newcomer, or just a renter waiting to get lucky, finding a lease is a time-consuming task. With SingleKey’s Tenant Passport, tenants get a guarantor trusted by homeowners, so you can ensure you’ll always...
Wed, 21 Feb, 2024 at 4:58 PM
Rent Guarantee
Does the coverage extend to instances where the tenant breaks the lease?
Absolutely! Lease break protection is part of the Rent Guarantee Program as well! We cover up to 30 days of rent in case the tenant leaves without notice. For more information on our Rent Guarantee Program, please click here.To book a call...
Wed, 24 Jan, 2024 at 12:13 PM
Rent Guarantee
What if the tenant damages my property?
If the tenant maliciously damages your property, you can start a demand by following the steps here.In the case of any malicious damages:We would ask for photos (before & after)Invoices for repairs (if you’ve already started the process) A court order for...
Thu, 21 Dec, 2023 at 9:59 AM
Rent Guarantee
What is the process to raise a demand?
If your tenant defaults and you need to submit a demand for unpaid rent or damages, you can start the process via the Rent Guarantee you have set up in your SingleKey account. Simply click on the property that you wish...
Thu, 21 Dec, 2023 at 9:41 AM
Rent Guarantee
Enrolling existing tenants on Rent Guarantee
In case they are existing tenants in the rental unit:We would need to see six (6) months' worth of on-time rental payments along with proof of income. Credit report/ proof of income back, from the time the tenant applied for the...
Thu, 21 Dec, 2023 at 9:41 AM
Rent Guarantee
What do you look for in a tenant?
The qualification criteria are listed below:Rent-to-Income Ratio: The rent-to-income ratio must not exceed 45%. This ensures that the prospective tenant's income is sufficient to comfortably cover the rent.Financial History: The prospective tenant should not have any bankruptcies, legal files, or evictions within...
Thu, 21 Dec, 2023 at 9:40 AM
Rent Guarantee
When can the Landlord contact us to raise a demand?
As part of our Rent Guarantee program, we guarantee rental income for up to 12 months (or $60,000). To raise a demand, we urge the landlord to contact us immediately and notify us so that we may get started on...
Thu, 21 Dec, 2023 at 9:41 AM
Rent Guarantee
What happens at the end of the 12 months from signing for the Rent Guarantee?
When the Rent Guarantee program reaches the end of the 12-month term, it automatically renews to a month-to-month contract. After the initial lease term, the Rent Guarantee payments go month-to-month, and you can cancel any time by providing thirty (30) days'...
Thu, 21 Dec, 2023 at 9:40 AM
Rent Guarantee
Can students qualify for Rent Guarantee?
We could cover units that are used for student accommodation. Students can be covered as long as they have a guarantor on the lease and the information from the student’s guarantor. For more information on our Rent Guarantee Program, please click here.To...
Thu, 21 Dec, 2023 at 9:40 AM
Rent Guarantee
Can self-employed tenants qualify for the Rent Guarantee program?
Yes, self-employed applications can qualify!As long as they meet the criteria, they are eligible to be part of the Rent Guarantee program. Typically, self-employed tenants can submit a recent T4 statement and recent bank statements as proof of income. For more...
Thu, 21 Dec, 2023 at 9:47 AM
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