Rent Guarantee
for Landlords

The Rent Guarantee program includes:

– Guaranteed Rental income for up to 12 months or $60,000 per lease
– Damage protection from willful tenant damage up to $10,000 per lease
– Legal Fees incurred during the eviction process covered up to $1,500
– Automatic Rent Collection via PAD
– 2 FREE Tenant Credit & Background Checks

• Your property must be located in Canada, excluding Quebec. We currently do not offer Rent Guarantee in the United States.
• You must be the owner of the unit you wish to guarantee.
• Your lease agreement must be 12 months or longer.
• Your rental unit must be legal.

To start the Rent Guarantee we need the following documents:

1. Credit Report for each tenant – we can help with this

2. Proof of income in the form of recent Paystubs, T4, Bank statement or Employment Letter

3. Valid signed lease agreement

We also recommend that the landlord performs a Pre‐Inspection report, including images of the property detailing the condition of the unit prior to tenant move‐in; as well as proof of property and liability insurance

The good news is that we do not qualify tenants based solely on their credit score. To ensure affordability, we require that the rent cannot exceed 45% of tenant’s gross household-income.

The program fee starts at 5% of the monthly rent, charged monthly or annually.

We can deduct the fee when we process your monthly rent payments (optional) or we can charge your credit card on a monthly basis for the term of the lease. 

After the initial lease term, the Rent Guarantee goes month-to-month and you can cancel by providing 30 days notice.

Since we collect the rent for you, we will know right away if the tenant hasn’t paid and we will take action to contact the tenant and collect the rent. If the tenant is unresponsive, we will continue to pay your rent for up to 12 months while working with our paralegal team to remove the delinquent tenant.

You will receive a Pre-Authorized Debit transfer from your tenant account to your bank account each month. You will need to connect your bank account to our system or send us a void cheque to set this option up.

In the case of negligent or wilful property damage by the tenant, please notify us within the next business day and we will be reimbursed up to $10,000 of damages if the tenant refuses to pay.

To make a claim for Rent Guarantee Default, you must notify us in writing within three (3) business days of a tenant default on rent. You need to provide us with the documents listed here.

To make a claim for Willful Damage, you must notify us in writing within ten (10) business days of finding property damage by your tenant. You need to provide us with the documents listed here.

Yes, we can guarantee new and mid-lease tenants. For existing tenants, we simply require confirmation that the tenant has made their past rent payments and is not behind on rent.

Each policy covers a single lease agreement for a single residential rental unit. If you have multiple rental properties, you can purchase a separate policy for each unit. If your property has 2 or more units, then you must guarantee all units simultaneously.

The Rent Guarantee agreement is between SingleKey and the landlord. The landlord will sign a lease with the tenant but does not need to include SingleKey in the lease. 

As a landlord, there is no need to let the tenant know about the rent guarantee, but you can do so if you’d like. SingleKey will only interact with the tenant to collect the rent or if the tenant has not paid.

No. The tenant will have the same incentive to pay the rent since they will be evicted for non-payment if they do not.