# SingleKey (Full) > Trusted by 150,000+ homeowners. Renting gets unpredictable. Protect your rental income with SingleKey’s risk mitigation solutions for homeowners, rental businesses, and tenants. ## EN-CA Pages ### Tenant Report [Tenant Report](https://www.singlekey.com/en-ca/tenant-report-b/) Date: May 27, 2025 Author: SingleKey Content: Tenant Report Screen tenants smarter & faster Choose the right tenant every time with the most comprehensive tenant screening & public record search. Order now, get results in minutes.  Sign up and order in 3 steps Get results in less than 5 minutes! Tamper-proof reports, sent directly to you Enterprise solutions available Powered by Order now Tenant Report by SingleKey One report is all you need Get all the facts you need to choose the right tenant. Every Tenant Report includes credit checks and a public document scan, social media scans, and more. Equifax® and TransUnion® credit reports Choose between a full credit report powered by Equifax®, TransUnion®, or both credit bureaus. You'll get a credit score and full credit history data—one of the best indicators of a tenant’s financial status and payment history. Online rental application In addition to employment info from Equifax, tenants are asked to provide employment references and to upload proof of income (e.g. recent pay stubs) when completing our online rental application.  Income & employment verification We help you collect employment references and proof of income during the online rental application process so that you can verify a tenant's employment status and income. Public record search Get a thorough analysis of your tenant’s public social media accounts, past employment and addresses, criminal records and court decisions, and negative press and public biographies, from over 200,000 databases from 240+ countries. 

SingleKey doesn’t access or collect any information published on private social media profiles. ID Verification We'll confirm your rental applicant's identity to ensure they match the details on their application. Pricing Everything you need without breaking the bank Get all the facts you need to choose the right tenant. Every Tenant Report includes a credit check, public record search, social media scans, and more. Tenant report $29.99 / applicant 🇨🇦 🇺🇸 Start screening See sample report Choose between an Equifax® or TransUnion® credit check Public record search Income & employment verification Online rental application Available 24/7 ID Verification Credit data provided by BEST VALUE Dual bureau tenant report $44.99 / applicant 🇨🇦  Start screening See sample report Why run both? Both Equifax® and TransUnion® credit checks included Public record search Income & employment verification Online rental application Available 24/7 ID Verification Credit data provided by International report Screen tenants across the globe with Nova Credit. $59.99 / applicant 🇦🇺 🇦🇹 🇩🇪 🇮🇳 🇰🇪 🇲🇽 🇳🇬 🇵🇭 🇰🇷 🇪🇸 🇨🇭 🇺🇦 🇬🇧 Start screening See sample report Learn more Nova Credit® international credit check Public record search Income & employment verification Online rental application Available 24/7 ID Verification Credit data provided by Additional Features Smart shortcuts. Faster screening. Save time and effort with additional features built into every Tenant Report. Screen international tenants Approve more rental applications with confidence by accessing international applicants’ foreign credit history securely. Learn more Dual credit report Get the full credit profile of your rental applicant with in-depth credit history data from Equifax and TransUnion. Learn more Verified references SingleKey automatically sends out reference requests to tenants’ previous landlords. Completed references are then sent directly to you and cannot be accessed by tenants. Pre-screening form Quickly filter applications with our free pre-screening form. The customizable form includes questions on finances, personal habits, and desired lease terms.See an example Order a report Ordering Your Report Order now. Get results in minutes. Getting your Tenant Report is secure, easy, and only takes minutes. Fill out the basics Share some info about your tenant, or invite them to fill out their details. Pay online Pay for your Tenant Report with a credit card, or ask your tenant to submit their own payment. Get your report Sign up and verify your identity online. The report will be available for secure access in your SingleKey portal. Order a report Watch a tutorial International Tenant Report Interested in screening an international tenant? We now offer international tenant reports with Nova Credit. Learn more As seen in The Reviews Are In “SingleKey is a MUST for all landlords for all landlords for their screening process.” “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer See all reviews Tenant Report FAQ In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. See all FAQ Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of the U.S. and Canada including Quebec.For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? The credit inquiry will appear on the applicant’s credit file, however it will not have a significant impact on their credit score, since this is not a credit application. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.See our full guide on how to read the SingleKey Tenant Report here Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections.  Related Posts Find the perfect tenant for your place. Choose smart and rent safe with Canada’s #1 tenant report. Start screening --- ### Rent Credit [Rent Credit](https://www.singlekey.com/en-ca/tenants/rent-credit/) Date: May 1, 2025 Author: SingleKey Content: Build your credit with every rent check Build your credit with every rent check Strengthen your credit today by reporting on-time rent payments with Rent Credit! 🎉 Launch Special 🎉 Get 1 month free! Join now to enjoy one month of free rent reporting. Get started Why rent reporting matters Reporting your rent is a small step you can take to make a huge impact on your financial future. 
 Here’s why rent reporting is worth it: Easier rental approvals Rent reporting helps build your credit history, making you a more appealing tenant. A stronger credit score increases your likelihood of getting approved by landlords. Lower interest rates By improving your credit score through rent reporting, you can qualify for lower interest rates on loans and credit cards, saving money over time. More access to credit Rent reporting boosts your credit history and shows lenders you're financially responsible, making it easier to qualify for mortgages, auto loans, and credit cards. HOW IT WORKS How Rent Credit works STEP 1 Report your rent Get started by reporting your rent on the 
Rent Credit platform. STEP 2 Submit proof of payment Upload proof of each month’s rent payment. STEP 3 Watch your credit grow Keep paying your rent on time each month, and see your credit improve. Boost your credit simply without taking on extra debt—just by paying rent like you already do. Start building credit PRICING Fast-track your credit-building for as low as $6.40/month Explore Rent Credit’s rent reporting plans to improve your credit today. Start buiding credit have questions? Speak with a real person Our dedicated Customer Success Team is here to support you with your rent reporting needs. Hours Weekdays 8 a.m. to 7 p.m. EST | Saturdays 10 a.m. to 2 p.m. EST Contact Us 1-877-978-1404 or info@singlekey.com REVIEWS See why we’re ranked first among tenants I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. Landlord The timely responses and the updates were second to none. It was so nice to not receive a copy/paste message but deal with someone who actually understood the situation and was so customer service oriented. Aysha R. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Catherine C. Landlord Help was instant, accurate and useful. Thanks! Samina Y. Landlord Resolved an account issue in a few short minutes. Very pleasant to deal with too! Pauline P. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Cheryl R. Landlord FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is Rent Credit? Rent Credit is a service that allows tenants to report their monthly rent payments to major credit bureaus, helping them build or improve their credit history without taking on additional debt. How does Rent Credit work? Rent Credit reports monthly rent payments to Equifax, allowing renters to build their credit history. By consistently paying rent on time, customers can strengthen their credit profile, similar to how payments on other financial commitments, like credit cards or cellphone plans, work. Over time, this can make it easier to qualify for financial products. Do I need my landlord’s permission to use Rent Credit? No, you do not need your landlord’s permission. Rent Credit allows you to report your rent payments directly, so you can build your credit without landlord involvement. Do I need to confirm my rent payments each month? Yes, you may need to log in monthly to confirm your rent payments to ensure accurate reporting. What happens if I miss a rent payment while using Rent Credit? Missing a rent payment can affect how quickly you build credit. Rent Credit does not report payments more than 30 days late. How will Rent Credit appear on my credit report? Rent Credit will appear as a tradeline on your credit report, reflecting your rent payment history. What if my rent amount or payment due date changes? If your rent amount changes, you can contact us at 1-877-978-1404 or info@singlekey.com with your updated lease details to ensure accurate reporting. Can I report multiple months of rent payments as a single payment? Yes! If you paid more than one month of rent at the same time, simply upload the same proof of payment document for each month you paid. To make sure your report is processed quickly, we recommend explaining which months were paid and the amounts in the Additional Information section on the payment reporting page. Read more on the Knowledge Base Read more --- ### Enterprise [Enterprise](https://www.singlekey.com/en-ca/enterprise/) Date: March 24, 2025 Author: SingleKey Content: Innovative risk management tools Simplify property management and protect your rental income—all in one platform. With SingleKey, property managers, realtors, and developers get comprehensive tenant screening, rent guarantees, and automated rent collection to reduce tenant risk, streamline operations, and enhance the tenant onboarding experience. Book a demo Become a partner Trusted by: Smarter rental management, all in one place Take the risk out of managing rental properties and build strong portfolios. Our intuitive platform lets you effortlessly screen tenants, guarantee rent, automate rent payments, and collaborate with team members. Comprehensive tenant screening Get all the info you need to choose high quality tenants. Each Tenant Report includes a tenant credit check, eviction record search, and extensive payment history in an easy-to-read format. Learn more View sample Extensive Rent Guarantee protection Safeguard your rent with the nation’s largest Rent Guarantee Program and get financial and legal support for missed rent payments, lease breaks, and property damage. Learn more Automated rent collection Avoid late rental payments. Our automated system streamlines the process, ensuring secure, direct-deposit rent payments. Learn more GET STARTED TODAY Become a SingleKey Partner Watch this video to learn more about how SingleKey helps our enterprise clients manage their rental properties. Connect with us Enterprise partner perks Get in touch to learn more about our partner perks. Contact us Priority assistance Get dedicated support whenever you need it. Enterprise clients get priority phone assistance from our top-rated, local customer success team at no extra cost. Easy team management Simplify how you collaborate with your teams with flexible user options. Add unlimited team members, organize users by organizations or buildings, and manage shared credit card access. Volume discounts Enterprise pricing is available based on volume. API integrations Seamlessly connect to your existing systems to streamline operations, automate workflows, and enhance efficiency. API integrations are available for large property managers, with more coming soon. See our current API integration list below. Yardi Powerful, enterprise-level property management software Powerful, enterprise-level property management software Buildium Simplified property management for residential portfolios Simplified property management for residential portfolios Rent Manager Customizable software built for growing property management companies Customizable software built for growing property management companies Leadsimple Sales and operations CRM purpose-built for property managers Sales and operations CRM purpose-built for property managers Entrata All-in-one platform with robust leasing and student housing tools All-in-one platform with robust leasing and student housing tools Appfolio Cloud-based software for modern property managers Cloud-based software for modern property managers Property Vista Comprehensive solution with strong leasing and communication tools Comprehensive solution with strong leasing and communication tools Propertyware Flexible platform tailored for single-family property management Flexible platform tailored for single-family property management Our team is constantly expanding integration options to support your needs. 
Let us know what property management software you'd like us to connect to next. Request an API integration get started Unlock partner benefits with SingleKey Join hundreds of industry professionals who trust SingleKey to protect their clients' rental income and simplify leasing. Get in touch to learn more about our partner perks and pricing. REVIEWS Why property managers trust SingleKey I have been using SingleKey and previously Naborly many years for tenants screening on the rental property. Easy to use and one-step process to get full information on the credit report. The support service is very friendly! Jenny S. February 2025 Straight forward and to the point, easy to access. The information we receive on tenants is easy to understand and very thorough. The ease of use for us and our tenants is probably one of the strongest points. Support is fantastic. This will be our "goto" always! Heidi P. February 2025 SingleKey is the answer to a peaceful [night’s] sleep. Rent guarantee is the guarantee. And with Andrew, helping you at every step, from screening the potential tenant to getting their credit reports to signing lease to pre authorized rent withdrawal, you can rely on him, all the way. Want to secure your investment, get in touch with Andrew at SingleKey. Narinder S. February 2025 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of the U.S. and Canada including Quebec.For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.

As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.Read our full guide on how to read the SingleKey Tenant Report. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections. --- ### eLease [eLease](https://www.singlekey.com/en-ca/tenant-screening/lease-agreement-signing/) Date: January 29, 2025 Author: SingleKey Content: Canada’s first free online lease signing tool Easy: Auto-fill the lease with your existing tenant and property info to create a first draft quickly. Flexible: Customize your rental agreement, include additional terms, and easily sign it online. Free: We’re changing the rental landscape by offering a simple eLease tool for landlords and tenants—at no cost. Try it for free Legally binding e-signatures powered by Streamline your online lease signing process Stop struggling with outdated standard lease agreements that are difficult to sign online. 
Get all the benefits of SingleKey’s eLease. tool. Flexible and customizable Effortlessly draft and personalize your rental agreement, include additional documents, and get it ready for signing. Add legally-vetted terms 
(or clauses) Get lawyer-approved additional terms or upload your own addendums to ensure you are protected. Go paperless and
 save time  Skip the hassle of dealing with inflexible standard lease PDFs. Quickly draft and sign your lease online with our pre-filled lease tool. Get started How it works Legally-binding online signatures With Dropbox Sign, we’re offering a compliant and secure online signing experience with an auditable trail. Require tenant insurance Ensure tenants get tenant insurance before signing the lease. We’ll notify you if your tenant signs up and cancels their policy. Require tenant insurance Ensure tenants get tenant insurance before signing the lease. We’ll notify you if your tenant signs up and cancels their policy. An organized online vault Easily manage your leases and get notified when tenants sign. Keep all your leases for each rental unit organized in a safe place. An organized online vault Easily manage your leases and get notified when tenants sign. Keep all your leases for each rental unit organized in a safe place. How it works Easily send and sign in minutes Pre-fill and draft your lease We’ll draft your lease by pre-filling the tenant, landlord, and rental unit information that’s already in your Tenant Report. Alternatively, you can fill it out yourself manually. Include additional terms (optional) Insert your own additional clauses or select from our legally-approved, recommended clauses to protect yourself. Invite tenants to sign online Lastly, send an e-signature invite to tenants to collect their signatures online and get notified when they sign. Get started Getting started How to sign your first lease online Draft your lease and get it signed in just 3 steps. Watch our 
4-minute guide on how to get started. PRICING So simple, it’s free Finding the right tenant is a challenge. Signing a lease online shouldn’t be. Try our easy eLease tool for free. Create your rental agreement with pre-filled terms. Customize the lease and attach additional documents. Digitally collect legally-binding signatures from all parties. Get started for free See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Do you use the Standard Ontario Residential Tenancy Agreement as a template? Yes, we use the Standard Ontario Residential Tenancy form as a template, that is available here. This is the lease form that is required to be used for all Ontario residential leases.  Why is it important to add additional terms to the Ontario standard lease? Section 15 of the Ontario Residential Tenant Agreement (standard lease), allows for Landlords and tenants to agree to additional terms. Examples may include terms that:Provide rules for use of common spaces and/or amenitiesClarify rules for specific situations like: subleasing, short term rentals, smoking rules etc.Including clear and compliant additional terms can go a long way to clarify responsibilities and avoid potential conflict between landlord and tenant responsibilities during the tenancy. These terms should be written in plain language, in a readable font size of at least 10 points and cannot take away rights and responsibilities under the Residential Tenancies Act, 2006 How exactly does eLease work? Start by entering the rental unit, tenant, and landlord information, or select a recent application to automatically populate the lease with existing details.Select from the recommended additional terms drafted by our legal team, or upload your additional terms document that we will append at the end of the lease.Review and finalize your lease agreement by filling in any remaining blanks, such as who pays for utilities, key deposits, rent payment methods etc. Send the final lease draft out for digital signatures to all tenants and owners listed on the lease via Dropbox Sign, then track who has signed the lease in your dashboard.Once all parties have signed, you will all receive a copy of the signed lease agreement via email. Are Electronic Signatures legally binding for signing a lease online in Canada? Electronic signatures are legally recognized in Canada at the federal level by the Personal Information Protection and Electronic Documents Act (“PIPEDA”), as well as by provincial specific legislation in each of the provinces and territories. For more information on this topic, visit this page. What will this cost? This is a complimentary (FREE) service for landlords and tenants. During the lease signing experience, we will offer the tenant the option to purchase renter’s insurance through our partners at Duuo (The Cooperators Subsidiary). This is an optional, unless you (the landlord) make it a required step for the renter to show proof of insurance before they are able to sign the lease. It is important for Landlords to encourage tenants to get renter’s insurance as it does offset some of their liability on the rental unit. Learn more here. Will eLease be available for other provinces? Yes, eLease will soon be available in all provinces. We will notify you as we roll out this service to more provinces. --- ### Tenant Insurance [Tenant Insurance](https://www.singlekey.com/en-ca/tenants/tenant-insurance/) Date: November 27, 2024 Author: SingleKey Content: Affordable tenant coverage for renters Protect what you love without breaking the bank. Walnut’s tenant coverage is designed for all Canadian renters at a fair price. Start your coverage Starting at $17   / month What’s included: Up to $15,000 in Property Coverage Up to $1,000,000 in Bodily Injury Liability Up to $100,000 in Property Damage Up to $10,000 in Medical Payments Up to $100,000 in Animal Liability Up to $4,000 in Additional Living $5,000 to $15,000 in Property Coverage Up to $1,000,000 in Bodily Injury Liability Up to $100,000 in Property Damage Up to $10,000 in Medical Payments Up to $100,000 in Animal Liability Up to $4,000 in Additional Living What sets us apart? Skip lengthy quotes Unlike others, we don’t make you fill out a lengthy quote form. Our prices are the same for everyone! No credit check required Our group insurance policy doesn’t require you to run a credit check, so your credit stays protected. Fair pricing for all Our pricing is the same for everyone, regardless of your credit score or property location. View pricing Coverage in 2 clicks Get covered in just 2 clicks—no quotes or credit checks. Just enter your info and select your coverage! Why do I need tenant coverage? Most landlords require tenants to have resident liability insurance when signing a lease. As a renter, you’re responsible for keeping the property in good condition. This is where tenant insurance comes in to protect you against accidental damage, which can cost thousands. Tenant coverage⎯also known as renters insurance, condo tenant insurance, or content insurance⎯is essential for anyone who rents their living space. Start your coverage COVERAGE INCLUDES What is covered? Personal belongings In case of a fire, water damage, or theft, you’ll be covered for the cost of repairing or replacing your personal belongings. Up to $15K of personal property covered Example: If your apartment is broken into and your valuables are stolen, your coverage would replace them. ExampleIf your apartment is broken into and your valuables are stolen, your coverage would replace them. Bodily injury liability If a guest in your home gets injured due to your negligence, your coverage would help pay for their medical bills and other costs. $1M of bodily injury liability covered Example: If a visitor slips on your icy steps and breaks their leg, your coverage would help cover medical bills and legal fees. ExampleIf a visitor slips on your icy steps and breaks their leg, your coverage would help cover medical bills and legal fees. Property damage The cost of repairs and replacements are covered if you accidentally damage your landlord’s or neighbour’s belongings. $100K of property damage covered Example: If you accidentally flood your apartment, your coverage would help cover the cost of repairing water damage. ExampleIf you accidentally flood your apartment, your coverage would help cover the cost of repairing water damage. Medical payments Medical expenses are paid for by your tenant coverage if a visitor accidentally hurts themselves in your home. $10K of medical payments covered Example: If a guest cuts their finger while helping you cook, your coverage would help cover their medical bills. ExampleIf a guest cuts their finger while helping you cook, your coverage would help cover their medical bills. Animal liability Medical bills and legal fees are covered if your pet injures a visitor in your home or damages someone else’s property. $100K of animal liability covered Example: If your dog bites a cyclist passing by your house, your coverage would cover their injury and bike damage. ExampleIf your dog bites a cyclist passing by your house, your coverage would cover their injury and bike damage. Additional living costs If your rental home is uninhabitable due to a fire or flood, you’ll get covered for the cost of temporary housing during renovations. $4,000 of additional living costs covered Example: If a fire makes your apartment unlivable, tenant insurance covers hotel and meal costs during repairs. ExampleIf a fire makes your apartment unlivable, tenant insurance covers hotel and meal costs during repairs. Start your coverage See sample policy get coverage today Get covered in a few clicks Protect yourself with comprehensive tenant coverage in three easy steps. Provide your info Tell us the address where you’ll need coverage and provide basic personal details. Select your coverage Choose from either none, $5,000, $10,000, or $15,000 in Personal Property coverage. Begin your coverage Rest easy: we’ll cover your personal property—regardless of what your credit score is or where you rent. Get covered now PRICING Simple pricing for every budget You get group pricing and coverage, which means everyone gets the same fair price regardless of credit score or location.  No Personal Property Coverage $17   / month Get started $5,000 Personal Property Coverage $5,000 Personal Property Coverage $20   / month Get started BEST VALUE $10,000 Personal Property Coverage $10,000 Personal Property Coverage $22   / month Get started $15,000 Personal Property Coverage $15,000 Personal Property Coverage $24   / month Get started All plans also include: Up to $1,000,000 in Bodily Injury Liability Up to $100,000 in Property Damage Up to $10,000 in Medical Payments Up to $100,000 in Animal Liability Up to $4,000 in Additional Living Responsive phone support anytime What if I need to make a claim? If something happens and you need to make a claim, we’ve made the process quick and hassle-free. Simply complete our easy, 1-page claim form with the details of your situation and submit it to our claims team. We’ll review your claim promptly and keep you updated every step of the way. If you need assistance, our friendly customer success team is just a phone call away and ready to help! Get covered now What our customers are saying I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. Landlord The timely responses and the updates were second to none. It was so nice to not receive a copy/paste message but deal with someone who actually understood the situation and was so customer service oriented. Aysha R. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Catherine C. Landlord Help was instant, accurate and useful. Thanks! Samina Y. Landlord Resolved an account issue in a few short minutes. Very pleasant to deal with too! Pauline P. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Cheryl R. Landlord See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is covered? Your Tenant Coverage provides the following benefits:Up to $1,000,000 in Bodily Injury LiabilityUp to $100,000 in Property Damage LiabilityUp to $10,000 in Medical PaymentsUp to $4,000 in Additional Living ExpensesUp to $100,000 in Animal LiabilityAdditionally, you are covered for your Contents based on the tiers you select:Tier 1 = $5,000 Personal Property coverageTier 2 = $10,000 Personal Property coverageTier 3 = $15,000 Personal Property coverageIt is recommended that each customer review their own needs and determine the best level of Contents coverage for their belongings. You can refer to this sample policy document to understand coverages and inclusions. Is there a deductible that I have to pay when I make a claim? There is a deductible of $500 for each of the three content coverage tiers for Personal Property Coverage. All other coverages do not have a deductible. For all other claims, including Bodily Injury, Property Damage and Medical Payments, there is no deductible. For more information, view our sample policy document. How is SingleKey affiliated with Walnut? SingleKey, Canada’s leading online rental application platform, has teamed up with Walnut, a leader in embedded insurance to offer renters an easy and reliable Tenant Coverage experience that protects your personal belongings and liability, giving you peace of mind throughout your lease. I have a question about the coverage, who do I contact? If you cannot find the answers to your questions related to the insurance coverage, you can chat with our our partners at Walnut here. SingleKey has partnered with Walnut, a leading embedded insurance provider in Canada, in order to offer a best-in-marketing Tenant Coverage plan to our customers. Is your tenant coverage available in my Province? Coverage is currently available to all customers located in Ontario, Alberta, British Columbia, Manitoba and Nova Scotia. Am I eligible for a refund if I no longer want my coverage? The Tenant Coverage product is non-refundable. If you decide you no longer wish to be covered, you can cancel your coverage by logging in to your SingleKey account and cancelling your policy from the Account Settings page. You will continue to receive coverage until the end of the billing cycle of the period you cancelled. For example, if you are billed monthly on the 15th, and you cancel your coverage on the 4th of the month, you will have Tenant Coverage until the 15th of the month. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I upgrade or downgrade my coverage? Unfortunately, you cannot upgrade or downgrade coverage tiers within your Tenant Coverage at this time. If you would like to change the tier of coverage, we recommend you cancel your current Tenant subscription, and re-enroll at the end of your billing cycle into your preferred tier. You will have coverage as soon as you enrol.  How do I access my policy? You can access your coverage details, billing information and more about your Tenant Coverage by logging into your SingleKey account. How do I make a claim? To submit a claim on your policy, please download and complete this claim form. If you require any assistance with your claim, or would like to make an changes to your policy, please reach out to our team at info@singlekey.com or 1-877-978-1404. How do I cancel my policy? You can cancel your policy and remove your coverage by logging into your SingleKey account and going to Account Settings. Tenant insurance by Affordable tenant insurance for renters Affordable tenant coverage for renters Protect what you love without breaking the bank. Walnut’s tenant insurance is designed for all Canadian renters at a fair price. Start your coverage Starting at $17   / month What’s included: Up to $15,000 in Property Coverage Up to $1,000,000 in Bodily Injury Liability Up to $100,000 in Property Damage Up to $10,000 in Medical Payments Up to $100,000 in Animal Liability Up to $4,000 in Additional Living $5,000 to $15,000 in Property Coverage Up to $1,000,000 in Bodily Injury Liability Up to $100,000 in Property Damage Up to $10,000 in Medical Payments Up to $100,000 in Animal Liability Up to $4,000 in Additional Living What sets us apart? Skip lengthy quotes Unlike others, we don’t make you fill out a lengthy quote form. Our prices are the same for everyone! No credit check required Our group insurance policy doesn’t require you to run a credit check, so your credit stays protected. Fair pricing for all Our pricing is the same for everyone, regardless of your credit score or property location. View pricing Coverage in 3 clicks Get covered in just 3 clicks—no quotes or credit checks. Just enter your info and select your coverage! Why do I need tenant insurance? Most landlords require tenants to have tenant insurance when signing a lease. As a renter, you’re responsible for keeping the property in good condition. This is where tenant insurance comes in to protect you against accidental damage, which can cost thousands. Tenant insurance is essential for anyone who rents their living space. Start your coverage COVERAGE INCLUDES What is covered? Personal belongings Up to $15,000 In case of a fire, water damage, or theft, you’ll be covered for the cost of repairing or replacing your personal belongings. ExampleIf your apartment is broken into and your valuables are stolen, your coverage would replace them. Bodily injury liability Up to $1,000,000 If a guest in your home gets injured due to your negligence, your coverage would help pay for their medical bills and other costs. ExampleIf a visitor slips on your icy steps and breaks their leg, your coverage would help cover medical bills and legal fees. Property damage Up to $100,000 The cost of repairs and replacements are covered if you accidentally damage your landlord’s or neighbour’s belongings. ExampleIf you accidentally flood your apartment, your coverage would help cover the cost of repairing water damage. Medical payments Up to $10,000 Medical expenses are paid for by your tenant coverage if a visitor accidentally hurts themselves in your home. Medical expenses are paid for by your tenant coverage if a visitor accidentally hurts themselves in your home. ExampleIf a guest cuts their finger while helping you cook, your coverage would help cover their medical bills. Animal liability Up to $100,000 Medical bills and legal fees are covered if your pet injures a visitor in your home or damages someone else’s property. Medical bills and legal fees are covered if your pet injures a visitor in your home or damages someone else’s property. ExampleIf your dog bites a cyclist passing by your house, your coverage would cover their injury and bike damage. Additional living costs Up to $4,000 If you’re unable to live in your rental home because of a fire or flood, you’ll get covered for the cost of temporary housing during renovations. ExampleIf a fire makes your apartment unlivable, tenant insurance covers hotel and meal costs during repairs. Start your coverage See sample policy get tenant insurance today Get covered in a few clicks Protect yourself with comprehensive tenant insurance in three easy steps. Provide your info Tell us the address where you’ll need coverage and provide basic personal details. Select your coverage Choose from either basic, $5,000, $10,000, or $15,000 in Personal Property coverage. Begin your coverage Rest easy: we’ll cover your personal property—regardless of what your credit score is or where you rent. Get covered now PRICING Simple pricing for every budget You get group pricing and coverage, which means everyone gets the same fair price regardless of credit score or location.  Basic coverage $17   / month $5K coverage $20   / month BEST VALUE $10K coverage $22   / month $15K coverage $24   / month All plans also include: Up to $1M in Bodily Injury Liability Up to $100K in Property Damage Up to $10K in Medical Payments Up to $100K in Animal Liability Up to $4K in Additional Living Responsive phone support anytime Start your coverage What if I need to make a claim? If something happens and you need to make a claim, we’ve made the process quick and hassle-free. Simply complete our easy, 1-page claim form with the details of your situation and submit it to the claims team. We’ll review your claim promptly and keep you updated every step of the way. If you need assistance, our friendly customer success team is just a phone call away and ready to help! Get covered now What our customers are saying I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. Landlord The timely responses and the updates were second to none. It was so nice to not receive a copy/paste message but deal with someone who actually understood the situation and was so customer service oriented. Aysha R. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Catherine C. Landlord Help was instant, accurate and useful. Thanks! Samina Y. Landlord Resolved an account issue in a few short minutes. Very pleasant to deal with too! Pauline P. Landlord Being new to this platform I called for a little help. Absolutely excellent customer service! Cheryl R. Landlord See all reviews Have different needs? Get a custom quote with different coverage options from our tenant insurance partner Walnut. Get custom quote FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is covered? Your tenant insurance provides the following benefits:Up to $1,000,000 in Bodily Injury LiabilityUp to $100,000 in Property Damage LiabilityUp to $10,000 in Medical PaymentsUp to $4,000 in Additional Living ExpensesUp to $100,000 in Animal LiabilityAdditionally, you are covered for your Contents based on the tiers you select:Tier 1 = $5,000 Personal Property coverageTier 2 = $10,000 Personal Property coverageTier 3 = $15,000 Personal Property coverageIt is recommended that each customer review their own needs and determine the best level of Contents coverage for their belongings. You can refer to this sample policy document to understand coverages and inclusions. Is there a deductible that I have to pay when I make a claim? There is a deductible of $500 for each of the three content coverage tiers for Personal Property Coverage. All other coverages do not have a deductible.For all other claims, including Bodily Injury, Property Damage and Medical Payments, there is no deductible. For more information, view our sample policy document. How is SingleKey affiliated with Walnut? SingleKey, Canada’s leading online rental application platform, has teamed up with Walnut, a leader in embedded insurance to offer renters an easy and reliable Tenant Insurance experience that protects your personal belongings and liability, giving you peace of mind throughout your lease. I have a question about the coverage, who do I contact? If you cannot find the answers to your questions related to the insurance coverage, you can chat with our our partners at Walnut here. SingleKey has partnered with Walnut, a leading embedded insurance provider in Canada, in order to offer a best-in-marketing Tenant Insurance plan to our customers. Is your tenant insurance available in my Province? Coverage is currently available to all customers located in Ontario, Alberta, British Columbia, Manitoba and Nova Scotia. Am I eligible for a refund if I no longer want my coverage? The Tenant Insurance product is non-refundable. If you decide you no longer wish to be covered, you can cancel your coverage by logging in to your SingleKey account and cancelling your policy from the Account Settings page.You will continue to receive coverage until the end of the billing cycle of the period you cancelled. For example, if you are billed monthly on the 15th, and you cancel your coverage on the 4th of the month, you will have Tenant Insurance until the 15th of the month. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I upgrade or downgrade my coverage? Unfortunately, you cannot upgrade or downgrade coverage tiers within your Tenant Insurance at this time. If you would like to change the tier of coverage, we recommend you cancel your current Tenant subscription, and re-enroll at the end of your billing cycle into your preferred tier. You will have coverage as soon as you enrol.  How do I access my policy? You can access your coverage details, billing information and more about your Tenant Insurance by logging into your SingleKey account. How do I make a claim? To submit a claim on your policy, please download and complete this claim form.If you require any assistance with your claim, or would like to make an changes to your policy, please reach out to our team at info@singlekey.com or 1-877-978-1404. How do I cancel my policy? You can cancel your policy and remove your coverage by logging into your SingleKey account and going to Account Settings. --- ### International Tenant Report [International Tenant Report](https://www.singlekey.com/en-ca/screen-international-tenants/) Date: March 6, 2024 Author: SingleKey Content: Screen international tenants We’ve partnered with Nova Credit to unlock credit history data from over 1.5 billion credit profiles worldwide and provide credit reports for tenants across the globe. Powered by Start screening See sample report Powered by Operating in 🇦🇺 Australia 🇮🇳 India 🇰🇪 Kenya 🇳🇬 Nigeria 🇵🇭 Philippines 🇰🇷 South Korea 🇪🇸 Spain 🇨🇭 Switzerland 🇬🇧 United Kingdom Operating in 🇦🇺 Australia 🇦🇹 Austria 🇩🇪 Germany 🇮🇳 India 🇰🇪 Kenya 🇲🇽 Mexico 🇳🇬 Nigeria 🇵🇭 Philippines 🇰🇷 South Korea 🇪🇸 Spain 🇨🇭 Switzerland 🇬🇧 United Kingdom 🇺🇦 Ukraine Tenant screening beyond borders For landlords and property managers For new-to-Canada applicants For landlords and property managers For landlords and property managers Access international applicants’ foreign credit history securely and approve more rental applications with confidence. For new-to-Canada applicants For new-to-Canada applicants We’re helping newcomers bring their credit history from home to Canada so they can get approved for their first lease! Navigating renting realities What new Canadians are saying about their rental challenges and how this is impacting homeowners*: 43% noted increasing rental prices as their biggest challenge when applying for housing. 30% said lack of credit history was their second biggest challenge. 42% had trouble finding a home to rent due to a low credit score or to a lack of credit history 58% have had to pay several months' rent upfront to secure a rental  40% of Canadian housing providers reported a surge in interest from newcomers*Based on surveys by SingleKey. New Canadians’ renting challenges (March 2024); Canadian housing providers (July 2023). Here’s how it works Invite applicant Invite the rental applicant to complete an international credit check. Complete application The applicant will be guided through the rental application to complete it. They'll also verify their personal details securely through Nova Credit. Get report Once the application is complete, receive your Tenant Screening Report within minutes! https://www.youtube.com/watch?v=g6RtwdaGv2I Getting Started How to Screen International Tenants Watch our 5-minute demo for more about the International Credit Check. Order a report Can I screen a tenant from outside of Canada with SingleKey? Absolutely! By sourcing Nova Credit data, landlords using SingleKey can now confidently assess the suitability of international applicants as tenants. How long does it take to get my international credit check? Just like our local Tenant Screening Reports, you can expect to receive your international credit check within minutes! Do I need consent from international applicants to run a report on them? Yes, your tenant will need to be aware of and provide consent to run an international credit check on them. What's in the report Credit report by Equifax Every Tenant Report includes a full credit report powered by Equifax. This includes the credit score and a full credit report—one of the best indicators of a tenant’s financial status and payment history. Social media check/scan Get a thorough analysis of your tenant’s public social media accounts. SingleKey doesn’t access or collect any information published on private profiles. Public documents scan We look through over 200,000 databases from 240+ countries for criminal records, court decisions, negative press, public biographies, past employment, past addresses and more. Income & employment verification In addition to employment info from Equifax, tenants are asked to provide employment references and to upload proof of income (e.g. recent pay stubs) when completing our online rental application.  Pricing Bringing international credit checks to you International Tenant Report $20 OFF $49.99 CAD /applicant🇦🇺 🇦🇹 🇩🇪 🇮🇳 🇰🇪 🇲🇽 🇳🇬 🇵🇭 🇰🇷 🇪🇸 🇨🇭 🇬🇧 🇺🇦 Start screening Download sample report International credit check Public record search Income & employment verification ID Verification Online rental application Available 24/7 Serving applicants in: Australia, Austria, Germany, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Spain, Switzerland, United Kingdom, and Ukraine Coming soon in 2024: China, Colombia, Pakistan, and South Africa Credit data provided by Serving applicants in: Australia, Austria, Germany, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Spain, Switzerland, United Kingdom, and Ukraine Coming soon: China, Colombia, Pakistan, and South Africa Credit data provided by Related Posts --- ### Reviews [Reviews](https://www.singlekey.com/en-ca/reviews/) Date: November 24, 2023 Author: SingleKey Content: Reviews and testimonials We serve thousands of homeowners and tenants every day. Here’s how we’ve helped our community take the risk out of renting. Liked our products and services? We’d love to hear your feedback. Write a review Better Business Bureau Reviews Singlekey has been true to their commitment so far. They cover for missed rent payments and also offer a bunch of nice-to-have services under rent guarantee program. Arijit R SingleKey Customer I used them multiple times to screen my new tenants and applicants. very smooth and easy to use. Hedi R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer Excellent Rental Guarantee Services by Single-key I've had an amazing experience with Single-key, thanks to their consistent rental guarantees over the past few years. Their team was professional and responsive, guiding me through a seamless process. The thorough tenant screening and ongoing support provided me with peace of mind as a landlord. Single-key's user-friendly platform made managing guarantees effortless. Meghani A SingleKey Customer 5/5 stars on BBB See all BBB reviews Social Mentions Cody Vieira @cody.vieira Kory MacKinnon @korymackinnon David Elliott @davidelliott_realestate Meghan @meghancfp CondoInvest.ca @condoinvest.ca SingleKey @SingleKeyCom Alex Dunbar @alexrdunbar Isaiah Henry @itsmrhenry Alex Dunbar @alexrdunbar Tyler Oxford @tylerjoxford Isaiah Henry @itsmrhenry Hear From Our Users Relax with Rent Guarantee Hear from real homeowners how Rent Guarantee kept them protected. Book a call Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. Ali Landlord Let SingleKey cover lost rent and guide you through an eviction with professional legal support. Arjit Landlord Find peace of mind and the confidence to rent as a first-time landlord with SingleKey’s Rent Guarantee. Google Reviews “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer Great system and the idea behind the existence of SingleKey. Helps out both sides of the aisle - the landlord for protection and (especially their rent guarantee program) and the tenant for building credit. Plus their support staff is responsive and available to answer questions promptly. Aadish G. SingleKey Rent Guarantee Customer I have used SingleKey for background check of my tenants and have always been happy with turnover time & quality of information provided. As a realtor, I always feel comfortable to suggest SingleKey as a tool to my investor clients, with added advantage of Rent Guarantee👍 Alok C. SingleKey Rent Guarantee Customer See all reviews See more reviews Check out what the rest of our community is saying about SingleKey. See reviews See reviews You've seen us in the news --- ### Move In Day [Move In Day](https://www.singlekey.com/en-ca/near-me/quebec/move-in-day/) Date: June 12, 2023 Author: SingleKey Content: Are You Move-In Day Ready? With July 1st practically here, SingleKey wants to make sure that you have everything you need to make what can be a very stressful day, a whole lot easier. Owners Hub Download Your Renter’s Move-In Day Cheatsheet Make sure the apartment you’re renting is in peak condition so that you're ready to start your life in your brand new apartment. Download Owners Hub Download Your Landlord Moving Day Checklist Moving day is hectic, make sure you have all that you need in order to have your moving day run as smooth as possible. Download Our services Interested in learning more about SingleKey’s offerings? Check out our other services! Rent Guarantee Tenant Report Rent Collection Step One Choose safe tenants Screen your tenants faster and smarter than any credit check. Our comprehensive Tenant Report gets you results in minutes, and includes credit, social, background, and reference checks. Step Two Get paid on time Skip the paperwork. Set up automated monthly deposits with your tenant, and incentivize on-time payments from tenants. Step Three Guarantee your income In case of tenant defaults, Rent Guarantee backs you with a financial safety net, legal support, and damage protection. More resources Owners Hub Lease Agreements Owners Hub Eviction Calculator Owners Hub Blogs Owners Hub Rental Application Form --- ### Guarantee Someone Else’s Housing [Guarantee Someone Else’s Housing](https://www.singlekey.com/en-ca/guarantee-someone-elses-housing/) Date: June 12, 2023 Author: SingleKey Content: Guarantee Someone Else's Housing This Holiday Season With SingleKey In Canada, more than 235,000 people experience homelessness every year. Together with Inn From The Cold, SingleKey is providing those experiencing homelessness with safe places to stay during these coldest months. We need your help! Order tenant report ">">Donation Goals $500 $4,000 $8,000 $12,000 $15,000 How to participate 10% of each Tenant Report For every Tenant Report purchased between December 1st, 2021 and January 15th, 2022, SingleKey will donate 10% to Inn From The Cold. Sign up now $100 per guarantee sold For every new Rent Guarantee sign up, we will donate $100. Sign up now $15,000 Donation Goal Our goal is to donate $15,000 to Inn From The Cold. This money will go directly towards housing 187 people for 5 nights! We will match up to $5000 in donations from our users? How to get your donation matched Get In Touch Get your donation matched SingleKey will match up to $5,000 in additional donations made to Inn from the Cold. Please donate to them directly and then fill out the form below to have us match it. Don’t forget your receipt! Feel free to donate to your local Inn From The Cold.Please submit proof of donation from Inn from the cold below so we can match your contribution. More about the campaign Ways to get involved Other ways to contribute Services supported Get in touch Book a call --- ### Testimonials [Testimonials](https://www.singlekey.com/en-ca/testimonials/) Date: June 12, 2023 Author: SingleKey Content: Testimonials Rent Guarantee Testimonials Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. Reviews Google Reviews "I had a lot of trouble getting picked by landlords because of my low credit as a student. A friend told me about the Tenant Passport and I got the lease on a gorgeous rental almost right away. I highly recommend it for all renters out there!" Hanna E. SingleKey Tenant Passport Customer "In my last place, I accidentally damaged the flooring but wasn’t able to cover the costs. My landlord was unhappy about it and things got awkward till I moved out. The Tenant Passport not only helped me secure my next rental, but now I feel great knowing I’m helping my new landlord cover costs if anything ever happens. Definitely worth having as a tenant." Jon B. SingleKey Tenant Passport Customer "The approval process is so simple for how much they’re covering. I didn’t have to share anything too personal, and the SingleKey support team was incredible at guiding me through it. I just moved into a new place and have SingleKey to thank for it!" Rahul C. SingleKey Tenant Passport Customer "So many of the landlords I applied with recognized SingleKey right away. They all appreciated me going the extra mile by getting a Tenant Passport. My current landlord and I have a very trusting relationship, and I’m sure my Tenant Passport has a lot to do with it." Maria Z. SingleKey Tenant Passport Customer See all reviews Ready to guarantee your rent? Get started --- ### Eviction Calculator [Eviction Calculator](https://www.singlekey.com/en-ca/eviction-calculator/) Date: June 12, 2023 Author: SingleKey Content: Tenant Eviction Cost Calculator Evictions are difficult for everyone involved, but it’s something you need to be prepared for as a landlord. From tenant mediation to eviction, SingleKey can help make sure you’re prepared – every step of the way. That’s why we offer Rent Guarantee, to help alleviate the financial and mental stress a tenant eviction can create. Calculate your costs Let Us Crunch The Numbers How much does an eviction cost? Let’s find out. We just need a little bit of rental information from you to help you figure out the cost of a difficult eviction. What we do Tenant screening Fast and easy tenant screening that goes beyond credit scores to include a criminal background checks, social media scans, employment history, income information and more. Automatic rent collection No more late payments! Rent is paid by pre-authorized debit, a faster and safer way than cheques or interact transfers. Guaranteed rental income You get paid even when tenants miss their rent payments – for up to 12 months or until the situation is resolved. Protect your investment with Rent Guarantee Helping you take the risk out renting is what we do. The SingleKey Rent Guarantee is re-insured by Lloyd’s Canada. The guarantee covers you for up to 12 months or $60,000 of missed payments, $10,000 in property damage, and any paralegal costs incurred during the tenant eviction process. Guarantee your rent --- ### Lease Agreement for Landlords [Lease Agreement for Landlords](https://www.singlekey.com/en-ca/near-me/free-canadian-lease-agreement-templates/) Date: May 15, 2023 Author: SingleKey Content: Lease agreements for Canadian landlords SingleKey has assembled a collection of free Lease Agreement Forms for each province, all in one place, to help landlords across Canada. Just print, sign, and rest assured that you will have a legally valid rental agreement in place with your new tenant. Find my province Free Download Lease agreement forms To view each lease agreement form, please download Adobe Acrobat Reader (version 10.0 or above). Click here for further instructions. Lease Agreement Forms Ontario Download Source Lease Agreement Forms British Columbia Download Source Lease Agreement Forms Quebec Download Source Lease Agreement Forms Alberta Download Source Lease Agreement Forms Newfoundland & Labrador Download Source Lease Agreement Forms Northwest Territories Download Source Lease Agreement Forms Nova Scotia Download Source Lease Agreement Forms Yukon Download Source Lease Agreement Forms New Brunswick Download Source Lease Agreement Forms Prince Edward Island Download Source Lease Agreement Forms Manitoba Download Source Lease Agreement Forms Saskatchewan Download Source What’s in the lease agreement form? A free lease agreement template between a landlord and a tenant Editable sections for a landlord, tenant and property information Sections for rent details, security deposits, late charges, occupants and more Terms for lease length, services and utilities and maintenance Created the provinces, and by legal professionals Additional terms to add to standard lease Since many provinces force landlords to use their standard lease agreements, they also allow you to add additional terms for added protection and to customize your lease to suit the purpose of your property. For example, the Ontario Residential Tenant Agreements allows for Additional Terms to be added under Section 15. Note that its very important that the additional terms added DO NOT CONFLICT with the terms in the standard lease.Below is a list of suggested additional terms that landlords can add to their lease while staying compliant with the Standard Lease term for most provinces.* Feel free to pick and choose these clauses if they apply to you and your property: Permissible Use These premises are intended for residential purposes only and the Tenants cannot run a home business from the premise that may cause increased traffic and increased liability exposure to the Landlord. Appliances Landlord represents and warrants that the appliances as listed in this lease will be in good working order at the commencement of the lease term. Tenant agrees to maintain said appliances and furnishings in a state of ordinary cleanliness at the Tenant’s cost. Smoking Smoking of cigarettes and cannabis is prohibited indoors. Use of drugs is illegal and strictly prohibited within property limits. This applies to the Tenants and their guests. Noise Tenants are required to abide by municipal bylaws of noise and disturbance regulations. The Tenants agree to not playing loud music or hosting loud parties past 11:00pm. In the event of continuous noise complaints by nearby residents, the Landlord may have grounds for legal action against the Tenants. Subletting The Tenants may assign or sublet the rental unit to another person only with the consent of the Landlord. The number of occupants in the premises must comply with local bylaw occupancy standards. Short-term rentals Tenants are restricted from listing the property or parts of the property for short-term rental (like AirBnB) without the expressed consent of the Landlord. Property damage Tenants are responsible for any damage to the rental property caused by the Tenants, the Tenant’s guests or another person who lives in the rental unit. This applies to any damage caused on purpose or due to negligence. The Tenants have to notify the Landlord and request permission when planning to make major modifications to the unit, such as adding built-in bookshelves or painting. Maintenance The Tenants agree to a $100 discount from the Landlord to their monthly rent from $_____ per month to $_____ per month in exchange for regular shoveling of snow from walkways within property limits as well as regular mowing of the lawn, done at a minimum once a month. If this maintenance is not performed by the Tenant, the Landlord has the right to charge $_____ monthly rent and to hire a property maintenance company. Absence In the event of extended absence of 30 days or more, the Tenants have to notify and give the Landlord the right to enter the rental unit during the absence to maintain the property as necessary and to inspect for damage and needed repairs. Secure rental income Protect property from damages Better tenant relationships Why do landlords need a residential tenancy agreement form? If the province offers a Residential Tenant Agreement form, the landlord is required to use that form, and not their own. In some provinces, the tenant has the right to withhold one month’s rent if the landlord does not provide them with a copy of the standard lease.It doesn’t matter if you’re leasing an apartment yearly or simply renting out a unit each month, you need to use a residential tenancy agreement to specify what’s expected of you as a landlord as well as your tenants. A properly structured residential tenancy agreement reduces issues with your tenant and protects you in court if issues arise.If you’re looking for additional protection, our Rent Guarantee program guarantees your rental income, protects you from property damage, and covers all legal costs you may incur. Need a tenant credit report? Try the fastest and most detailed Tenant Credit & Background Check in Canada. Learn more --- ### Contact [Contact](https://www.singlekey.com/en-ca/contact/) Date: March 1, 2023 Author: SingleKey Content: Contact Us Get in touch with SingleKey Have a question or concern? Send us a message and we’ll get back to you very soon. I am a... Homeowner Tenant Property Manager Real Estate Agent I am interested in.. Tenant Report Rent Collection Rent Guarantee Partner Program Universal Rental Application Tenant Passport SingleKey Careers General Inquiries Are you a returning customer? Yes No Submit Or reach us directly: General Inquiries 1-877-978-1404 info@singlekey.com Media Contact marketing@singlekey.com --- ### Terms & Conditions [Terms & Conditions](https://www.singlekey.com/en-ca/terms-and-conditions/) Date: February 28, 2023 Author: SingleKey Content: Terms of Use Published on Oct 18, 2021 | Updated on Mar 10, 2025 1. Introduction The following terms and conditions are the Terms of Use for our website and platform located at: www.singlekey.com (the “Site”) made available by SingleKey Inc., including its affiliates and any other wholly owned subsidiaries  (“SingleKey”, “SingleKey”, “we”, “us” or “our”).The purpose of the Site is to provide users (“User(s)” or “you”) with a technology platform (“Platform”) that facilitates communication between landlords and tenants, and facilitates access to landlord and tenant related products and services as may be available from time to time, provided by our partners and suppliers, including and not limited to: prescreening, application and screening,  leased property information, electronic lease execution, rental collection, rent guarantee services, rent reporting, credit monitoring, and other information, products, and services relating to SingleKey’s mission, approach and initiatives (“Platform Services”). The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork, graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or we explicitly say so in writing, the term “Site” includes all of the Contents. These Terms of Use constitute a legally binding agreement between you and SingleKey regarding your use of and access to the Site. These Terms of Use do not alter in any way the terms and conditions of any other agreement you may have with SingleKey, unless otherwise agreed to in writing by SingleKey. If you breach any of these Terms of Use, your authorization to use the Site automatically terminates and you must immediately destroy any Contents in your possession and discontinue all use of the Site. 2. Provision of the Site by SINGLEKEY You acknowledge and agree that the form and nature of the Site may change from time to time without prior notice to you.You acknowledge and agree that SingleKey may stop (permanently or temporarily) providing the Site, Platform, Platform Services, or any features within the Site to you or to users generally, at SingleKey’s sole discretion, without prior notice to you. You may stop using the Site at any time. You do not need to inform SingleKey when you stop using the Site or any of its features. You acknowledge and agree that if SingleKey disables access to your account, you may be prevented from accessing the Site, your account details or any files or other content which is contained in your account. 3. Use of the Site by You Your use of the Site is subject to all applicable local, provincial, state and federal laws and regulations. You may not use, allow, or enable others to use the Site, or knowingly condone use of the Site by others, in any manner that is, attempts to, or is likely to:be obscene, fraudulent, defamatory, libelous, indecent, discourteous, racially or ethnically offensive, harassing, threatening, abusive, pornographic or discriminatory;affect us adversely or reflect negatively on us, the Site, our goodwill, name or reputation or cause duress, distress, or discomfort to us or anyone else, or discourage any person, firm, or enterprise from using all or any portion, features, or functions of the Site, or from advertising, linking, or becoming a supplier to us in connection with the Site;send or result in the transmission of junk e-mail, chain letters, duplicative or unsolicited messages, or so-called “spamming” and “phishing”;transmit, distribute, or upload content or programs that contain any viruses, Trojan horses, worms or other disabling devices or harmful components intended to damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or personal information;modify, disrupt, impair, alter, or interfere with the use, features, functions, operation, or maintenance of the Site or the rights or use and enjoyment of the Site by any other user;advocate or encourage any illegal activity;infringe upon or misappropriate the copyright, patent, trademark, trade secret, publicity rights or other intellectual property or proprietary rights of SingleKey or any third party;violate the privacy of any individual, including users of the Site; orviolate any applicable local, provincial, state or national laws or regulations (anywhere in the world). Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not: reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose;send commercial electronic messages;collect, use, or disclose personal information in violation of applicable privacy legislation in the jurisdiction in which the content is posted or viewed; oruse or attempt to use the Site for advertising or promotional purposes related to any business you conduct commercially, nor shall you solicit, invite or accept any commercial offers made available via the Site;In order to access certain products and services on the Site or as part of the account registration process, you are required to provide information about yourself (such as identification or contact details). You agree that any registration information you give to SingleKey will always be accurate, correct and up to date. You may be requested by SingleKey to update this information from time to time, at SingleKey’s discretion.Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose.You agree that you are solely responsible for (and that SingleKey has no responsibility to you or to any third party for) any breach of your obligations under these Terms of Use and for the consequences (including any loss or damage which SingleKey may suffer) of any such breach. 4. Account Registration In order to access certain products and services on the Site you will be required to register as a User. As part of the account registration process, you may be required to provide information about yourself (such as government issued identification or contact details). You agree that any registration information you give to SINGLEKEY will always be accurate, correct and up to date. Before your account is created, SingleKey shall have the right to verify your personal information to ensure that its Site is being used for permissible purposes. SingleKey reserves the right to request any additional documentation or information from you prior to accepting your account registration. You must not register an account on the Site in a name other than a name legally recognised as being your real name. You also agree that you will be the only authorized user of the Site under these Terms of Use and will be solely responsible for the confidentiality of any user name and password supplied by you or provided to you. Should you become aware of any unauthorized use of your username or password with respect to any activity on the Site, you must immediately notify us via email or otherwise in writing. Upon receipt of such notice, we will take reasonable steps to stop any activity using your username or password, but neither SingleKey, nor any of its respective directors, officers, employees, agents, representatives or affiliates can or will have any responsibility or liability to any person whose claim may arise for any claims with respect to the handling or mishandling of any transaction on the Site resulting from the unauthorized use of your username or password.In using the Site and operating a User account, you warrant, represent and undertake that:you will be the only person who will use the Site using your account, and that you will not allow any other person, whether or not acting under your instructions, to use your account for any reason, and will actively take steps to prevent any other person to do such, and that in the event any other person uses your account, you are to be held responsible for any losses and damages caused as a result of that use;you will not use the account of any other person for any purpose;you will keep confidential any information you obtain that relates to any other User, including actual names and addresses of other Users, and will not publish or reproduce such information in any form, including without limitation on the Site, or on any external websites unaffiliated with SingleKey or in any print medium, without the prior written permission of the relevant User and SingleKey;you acknowledge that SingleKey is not liable for any breach of these Terms of Use by any other User or otherwise in relation to transactions carried out by means of the Site; andSINGLEKEY is not responsible for any losses you incur due to informational or technical errors in the account registration process, and will not be liable for any loss or damage you incur as a result of an unauthorised person using your account, including the use of any personal details you provide in the account registration process. you shall not: (a) transmit data that is illegal, harmful, threatening, insulting, disturbing, injurious, obscene, defamatory, unacceptable from a racial or ethnic perspective; (b) violate any of SingleKey’s intellectual property rights; (c) unlawfully gather information about others; (d) use any information obtained from the Site in order to harass, abuse, or harm another person; (e) attempt to impersonate another User or person or use the username of another User; (f) publish or otherwise transmit any malicious software or other computer codes, files or programs designed to interrupt, disrupt or restrict the operation of the Site, the Platform, Platform Services, our computer software, hardware, telecommunications equipment or to disrupt the normal transactions onto the Site or Platform; (g) use any robot, spider, offline reader, site search, retrieval application or other manual or automatic device or process to retrieve, index, data mine or in any way reproduce or circumvent the structure or presentation of the Site, its contents, or any processed data; (h) make improper use of our support services, submit false requests, or make any speculative or fraudulent background request orders; (i) modify, adapt, sub-license, “frame”, “mirror”, translate, sell, reverse engineer, decompile or disassemble any portion of the Site or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Site, Platform, or Platform Services thereto; (j) use, or attempt to use, the Site for unauthorized purposes; (k) use the Site for the benefit of any third party without SingleKey’s prior written permission; (l) create derivative works based on the Site or use the Site, Platform, and/or Platform Services to develop a competitive product offering; or (m) modify, remove, or obscure any copyright, trademark, patent or other notices or legends that appear on the Site and/or Platform. 5. Submission of Content The Site encourages submissions to the Site by its Users to access certain products and services. You acknowledge and agree that if you submit any information, including text, images, documents, other media, or any other material you make available to the Site, whether by posting, uploading, displaying, performing, transmitting or otherwise, or which you otherwise provide to SingleKey in respect of your use of the Site (“User Content”) you will be solely responsible for such User Content. SingleKey will not be liable in any way for any such User Content submitted. You further agree that you will not:submit any User Content which is harassing, abusive, threatening, harmful, libelous or defamatory, encourages conduct that could constitute a criminal offense or give rise to civil liabilities, or is unlawful in any other way.submit any User Content protected by intellectual property laws or by rights of privacy, unless you own the rights thereto or have received all necessary consents. You shall be solely liable for any damage resulting from any infringement of copyright, trademark or other proprietary rights;submit any User Content which contains a virus or other harmful components;engage in activity that interferes with or disrupts the use of the Site by other users;submit any User Content that encourages any illegal activities, or provides guidance or instructional activities about such illegal activities;make any false representation, including impersonation of any person or entity or misrepresentation of your affiliation with any person or entity; ormake use of any User Content for commercial purposes, such as advertising any products or services, reselling or publishing the information posted or transmitted.You represent and warrant that: (i) you own the User Content posted by you on or through the Site or otherwise have the right to grant the rights and licenses set forth in these Terms of Use; (ii) the posting and use of User Content on or through the Site does not violate, misappropriate or infringe on the rights of any third party, including, without limitation, privacy rights, publicity rights, copyrights, trademark and/or other intellectual property rights; (iii) you agree to pay for all royalties, fees, and any other monies owed by reason of User Content you post on or through the Site; and (iv) you have the legal right and capacity to enter into these Terms of Use in your jurisdiction.SingleKey does not pre-screen, monitor or edit the User Content posted or submitted to the Site. However, SingleKey reserves the right to edit, limit or remove any such User Content in its sole discretion. Notwithstanding, you shall remain solely responsible for any User Content you submit or post.When participating in, accessing, or viewing any posted User Content on the Site, you may be exposed to User Content that is inaccurate, incomplete or unsuitable. Please notify SingleKey (with the contact information posted at the bottom of this document) of any illegal or inappropriate User Content, and SingleKey will take appropriate action. SingleKey will ensure that any offending comments are removed, and take appropriate action against the offender. SingleKey will not be responsible for the User Content or accuracy of any information, and shall not be responsible for any acts taken or decisions made based on such information.SingleKey may establish procedures and practices relating to the use of and participation in the Site. Such procedures and practices may include limitations on the number of entries and the size of files that may be submitted, limitations on the number and type of User Content submitted at any given time and the number of days content will be saved before deletion. SingleKey will not be responsible for any User Content deleted by SingleKey or otherwise, or for your inability to submit any User Content.You hereby grant SingleKey a perpetual, worldwide, royalty-free, transferable, sub-licensable right to use, copy, distribute, transmit, display, communicate to other Users, reproduce, edit, translate and reformat the User Content in connection with the operation of the Site, Platform and Platform Services, except as otherwise limited by the Privacy Policy.SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. 6. Accessing Various Functions on SingleKey Platform SingleKey’s Site and Platform provides Users access to a variety of products and services that are created, offered, supported and maintained by third-parties (“Third-Party Partners”) unaffiliated with SingleKey, including and not limited to Certn, Equifax, Transunion, and other vendors, suppliers, and entities that have established a business or contractual relationship with SingleKey. Notwithstanding anything to the contrary in these Terms of Use, you acknowledge and agree that: (a) you access or deploy Platform Services which may be, in whole or in part, created, offered, supported and maintained by Third-Party Partners (“Third-Party Services”), at your sole discretion; (b) you shall read and abide by these Terms of Use in addition to any terms and conditions and privacy policies associated with any Third-Party Services which govern your use of such Third-Party Services; (c) SingleKey does not own or control Third-Party Partners or Third-Party Services; (d) SingleKey does not in any way warrant the accuracy, reliability, security, completeness, usefulness, non-infringement, or quality of any Third-Party Services; and (e) you bear all risks associated with using or relying on Third-Party Services. (a) SingleKey Tenant Screening Report SingleKey’s Tenant Screening Report (the “Report”) contains a compilation of User Content as well as data from third-party reporting agencies (including, but not specifically limited to personal information, credit information and history, education and employment information, and background check information provided and generated by credit bureaus, government agencies, police agencies, news publications, public court databases and other third-party sources (“Report Data”). Users hereby agree and acknowledge that the Platform solely provides and facilitates Users with access to the Report Data and all such Report Data is sourced and generated by SingleKey’s Third Party Partners who are reporting agencies, and not by SingleKey. Additionally, the User understands that the court document scan included in the Report is a scan of publicly available records only and is not a representation of official RCMP or FBI police clearance reports or local court record check. Users hereby agree and acknowledge that ordering a Report on a tenant applicant does appear as an inquiry on the tenant applicant’s credit file, however, it does not have a significant impact on the applicant’s credit score. (i) Enter Tenant InformationA User who is a landlord (“Landlord”) is required to obtain written consent from SingleKey before being able to order a Report on the Site. By selecting “YES” (or similar) for a Report on the Site, Landlord hereby provides SingleKey with express and irrevocable consent: a) to SingleKey to make requests to the relevant third-parties to generate the Report Data; b) to SingleKey’s third-party providers to generate the Report Data and provide the same to SingleKey, to be shared in the Report to Landlord; and c) to pay SingleKey the fees associated with access to the Report on the Site as further detailed in subsection 6(a)(iii) herein.  Should a Landlord fail to provide SingleKey with written or other sufficient proof that Landlord has obtained the necessary consent from the tenant to enable Report Data to be generated by SingleKey’s third-party providers, or any other documents requested by SingleKey at the time in which a Report is requested by Landlord, SingleKey maintains the right to block, or un-verify Landlord’s User account. (ii) Invite TenantIf an individual or User who is a prospective tenant (“Tenant”) submits User Content to SingleKey via the  “Invite Tenant” method or link, such submission shall be deemed as an act of Tenant providing SingleKey with express consent to incorporate the User Content in the Report, to request the relevant Third-Party Partner to generate further Report Data with respect to the Tenant, and to enable the relevant Landlord(s) reviewing the Tenant’s application access to the Report on the Site.    (iii) Final ProductPayment is required to process and complete an applicant’s request for a Report. All payments are made through a third party processor. Any report purchased by a User will remain in the Users account for up to ninety (90) days. After ninety (90) days, the report will be removed from the Account. Should a User need to access an old report, please contact info@singlekey.com. The Report is available for viewing through the User’s Account on the Site.  The Tenant also hereby grants SingleKey, the Landlord, Landlord’s agent, representative or property manager, express but revocable permission to view Tenant’s Report and perform any due diligence necessary (at their discretion), including but not limited to pulling a full credit report from one or multiple credit bureaus, contacting references, or verifying proof of income. By providing consent, potential applicants authorize SingleKey, and SingleKey’s Third-Party Partner reporting agency to access personal information to generate a Report. The applicant consents to the use, collection and controlled disclosure of their personal information including rental, court, employment, banking and financial history in accordance with SingleKey’s Privacy Policy. Any misrepresentation constitutes valid legal grounds for rejection of a Tenant’s application by either a Landlord or SingleKey. (b) SingleKey Rent Guarantee Program (i) Rent Guarantee EnrollmentIn order to access Rent Guarantee services provided by SingleKey’s third-party insurance partners, User must be subscribed to or have purchased any of the following: (a) SingleKey’s Tenant Screening Report services; (b) SingleKey’s online rent collection services; (c) electronic leasing services; and/or (d) any other products or services SingleKey may offer.  (ii) SingleKey – Landlord RelationshipUsers hereby acknowledge and understand that SingleKey’s role is to onboard and support Users. The scope of SingleKey’s obligation to Users are limited to providing User with customer service, customer onboarding, providing access to a Report, supporting User in the collection and submission of all required documents to a third-party underwriter for the purposes of accessing Rent Collection services on the Platform as provided by SingleKey’s third-party providers. Users hereby waive and release SingleKey of any and all rights they may have in regard to SingleKey at law or in equity to any action of any kind in respect of the Tenant Service Agreement, Rent Payment Contract Bond,  Enhanced Tenant Screening Service Guarantee Agreement, Enhanced Tenant Passport Screening Service Guarantee Agreement, or any other agreements between the Principal and the landlord. Users also acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to be subject to the SingleKey Tenant Screening service or the SingleKey Rental Guarantee Program, and have conducted their own due diligence and enquiries before accepting these terms. As part of the Rent Guarantee program, Users must agree to the Terms and Conditions outlined herein. In order to register for the Rent Guarantee Program, Users must agree to be bound to SingleKey’s Tenant Service Agreement, or Enhanced Tenant Screening Service Agreement, or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.   (iii) SingleKey Credit and Background Check Report RefundWhere a User orders a Report and later upgrades to the Rent Guarantee program, SingleKey reserves the right, in its sole discretion, to offer a full refund to the Landlord in the amount up to the full price paid by the User for the Report. A User is not entitled to any such refund unless such refund is approved by SingleKey in its sole discretion. (c) SingleKey Rent Collection Platform The Platform provides Users with access via a third-party pre-authorised debt and/or Interac E-transfer Request provider (a “3rd Party Payment Processor”) in connection to SingleKey’s rent collection services (“Rent Collection”) which facilitates the collection of rent for Landlords (as an optional feature), in accordance to the terms below. To engage with this feature, both payor and payee on the Platform must agree to sign and be subject to the terms and conditions outlined on the Pre-Authorised Debit Agreement. By “opting in” to using this service, both Payor and payee expressly consent to the terms and conditions governing the Rent Collection services accessible on the Site. Furthermore, Payor of the Pre-Authorised Debit transaction facilitated on the Site hereby agrees to allow SingleKey to use their account information to withdraw a specific rent amount from the account provided on a regular (monthly) basis for business purposes. Money is withdrawn and deposited into the Payee’s “designated account”. This service is offered in accordance with the Canadian Payment Association’s Pre-Authorized Debit Agreement, Rule H1 (Rule H1). Providing your banking information and completing the necessary forms through our Website will be viewed as meeting the necessary PAD terms. Their Payor or Payee may elect to terminate this service at any time. Users of the Rent Collection platform consent to the collection of personal information by SingleKey for several purposes including but not limited to maintaining and updating a credit report and for such information to be disclosed to other parties for the purpose of determining the suitability for tenancy, credit grantors assessing suitability for credit, and credit reporting agencies. Users understand that reporting will only be done where transactional proof is shown on the Rent Collection platform. Users acknowledge and understand that SingleKey cannot guarantee that certain information reported through our Rent Collection service will be used by reporting agencies, be reflected in a credit report or impact a credit score. As part of the process, individuals may be notified that they have been reported on. SingleKey may use a Third-Party Partner’s payment service, including that of a 3rd Party Payment Processor,  payment service to bill Users through an online account. By submitting payment account information, User grants SingleKey the right to store and process such information with the third-party payment service and agrees that SingleKey will not be responsible for any failures of the third-party payment service, including any failures to adequately protect such information. The processing of payments will be subject to the terms, conditions and privacy policies of such third-party payment service in addition to these Terms of Use. (i) Pre-Authorised Debit TermsThe Pre-Authorised Debit agreement is for business purposes due to the nature of the relationship between Landlord, Tenant, and SingleKey, an entity which operates a Platform that supports the onboarding and commencement of a residential tenancy transaction. The tenant User who is the payor (“Payor”) in the transaction grants authorization for SingleKey and the identified payment institution (“Processing Institution”) to process Pre-Authorised Debit payments to the recipient landlord User (“Payee”). Permission is provided in consideration of the Processing Institution agreeing to process debits for the identified account. The Payor hereby acknowledges that the delivery of this authorization to SingleKey constitutes authorization to the Processing Institution. The Payor authorizes SingleKey to withdraw on this account via its 3rd-Party Payment Processor for the purpose of withdrawing the rent amount agreed to between the Payor and Payee. The PAD transactions may be cancelled, provided that notice is received ten (10) business days before the next date of transaction. The Payor agrees to waive the pre-notification period for debits. SingleKey outsources processing of payment to an independent third-party SingleKey to fulfill the PAD transaction. The Payor undertakes to inform SingleKey or the Payee, in writing, of any change to their account information provided in the authorization agreement prior to the next due date of the PAD. The Payor hereby acknowledges his/her understanding, acceptance and participation in a PAD plan, that has certain recourse rights if any debit does not comply with the Terms of Use. For example, the Payor has the right to receive reimbursement for any transaction that is not authorized or is not consistent with this PAD Agreement. To obtain more information on the Payor’s recourse rights, the Payor may contact its financial institution, or visit www.cdnpay.ca. The Payor’s authorization will be given on the official PAD agreement, in the form of a signature, to enable SingleKey to take payments as per these Terms of Use. (ii) E-Transfer Request TermsIn the event the Landlord uses SingleKey’s Rent Collection platform and chooses to receive rental payments via Interac E-Transfer Payments from the Tenant, Tenants shall be sent an email request for e-Transfer payment via SingleKey’s Third-Party Payment Processor . To authorize the E-Transfer Request, Tenants are required to accept the Request by clicking the “accept” button in the email sent by Interac or SingleKey’s Third-Party Payment Processor. Failure to comply, or payments sent via any other methods or third-party payment processors not approved by SingleKey will not be honored, and may be lost at the Tenant’s expense. By accepting the E-Transfer request, the Tenant acknowledges, and irrevocably consents to sharing of payment history with various credit bureaus. Sharing of rental payment history may impact the Tenant’s credit score. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com. (d) SingleKey Tenant Guarantor (or Tenant Passport Program) SingleKey offers Tenant Users a Tenant Guarantor service, a tiered package of services enabling their rental journey (the “Tenant Passport Program”).  As part of the Tenant Passport Program, Users must agree to the terms and conditions of the SingleKey Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time. Tenants will use the Platform to complete an online application form for the Tenant Passport. Information in the form will be used to determine eligibility for the Tenant Passport program based on their qualifying criteria as a New Tenant, as outlined in the guarantee contract. Users hereby agree and acknowledge that SingleKey shall be entitled to charge Users of its Tenant Guarantor service: (i) upon submitting an application to the Tenant Passport Program, a processing fee (“Tenant Passport Processing Fee”) in connection to reviewing User’s application documents, verifying User’s references, and performing a complete tenant screening report on the tenant User; and (ii)  upon acceptance into the Tenant Passport Program, a program fee that is up to fifteen percent (15%) of the annual rent that shall be paid by Tenant to the Landlord for the rental property tenanted, the tenancy of which was facilitated or supported by the Tenant Passport Program in part or whole. Upon acceptance into the Tenant Passport Program, SingleKey will provide the Tenant with revocable permission to market themselves as a “guaranteed Tenant” to prospective landlords and property managers for the sole purpose of securing a rental property for themselves. Users hereby agree and acknowledge that SingleKey may revoke Tenant’s right or status as a “guaranteed Tenant” and the marketing and branding rights in connection thereto, for any reason in SingleKey’s sole discretion, including and not limited to reasons relating to fraud, submission of fraudulent documents, failure to pay fees in connection to the Tenant Passport Program, etc. The named Landlord or Property Manager User on the Tenant Passport Program will be the beneficiary of the enhanced Tenant Passport Program and shall be entitled to reimbursements as outlined in the terms of the Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s sole discretion from time to time. The Tenant Guarantor Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to establish a tenancy relationship between Tenant Users and Tenant Landlords utilizing the program, or establish any potential housing outcomes of a rental application. Users hereby agree and acknowledge that the Tenant Guarantor Program is only meant to support the process and Users may be declined for rent for any and all reasons by the Landlord. Users of SingleKey’s Tenant Guarantor Program hereby agree and acknowledge that SingleKey bears no responsibility or liability for any losses or damages arising from any results or outcomes of a rental application or from its Tenant Guarantor Program.  (e) SingleKey Rent Credit SingleKey’s Rent Credit services offer Tenant Users the opportunity to report their rental payments electronically to various Credit Bureaus, with the intention to help Tenant Users improve their credit ratings at the Credit Bureaus (the “Rent Credit Program”). Tenant Users will be asked to upload rental history documentation to the Platform, including but not limited to rent receipts, bank statements, and other proof of payments available at the time. Both on-time and late payments submitted to SingleKey may be reported to the credit bureaus. Tenant Users agree that they will upload all available information for a specific lease. The Rent Credit Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to increase Tenant Users’ credit scores. Credit scores are the proprietary property of their respective credit bureaus.By agreeing to T&C of Rent Credit, Users  consent to SingleKey providing information on Users’ rental payments to Equifax Canada, TransUnion Canada, Equifax USA, TransUnion USA, and/or Experian, and other relevant SingleKey third-party partners and suppliers. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com. (f) SingleKey Credit Health SingleKey’s Credit Health Program (“Credit Health”) offers Users the opportunity to track their credit score, monitor changes, spot potential issues, and understand opportunities to improve their creditworthiness by logging into the Platform and submitting requisite information onto the Platform. Credit Health data is provided by Equifax. For this reason, there may be variations between what users see in Credit Health versus what they see in other credit reports. Credit bureaus also use different credit models depending on the type of credit report run, so there may be variations between credit scores from the same credit bureau. Credit Health helps you dispute errors and fraud in your credit report. By agreeing to T&C of Credit Health, Tenant Users consent to SingleKey providing Equifax Canada the required User information for the User to access Equifax account and receive their credit information  from time to time. (g) SingleKey Electronic Leasing SingleKey offers Users the opportunity to sign residential leasing documents electronically.Users acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to use the Electronic Leasing tool and have conducted their own due diligence and enquiries before accepting these Terms of Use. SingleKey does not offer legal, paralegal, notary, or other related services, nor does it guarantee the enforceability of documents signed on its Platform. (h) SingleKey Referral Program SingleKey offers Users the opportunity to gain points and earn rewards, through its referral program (“Referral Program”). SingleKey reserves the right to modify, amend or terminate these Terms of Use and any rewards, in whole or in part, offered through the Referral Program, at any time for any reason. Users are bound by these Terms of Use and must meet certain criteria to participate in the Referral Program. Referrers are not permitted to participate in this referral program in jurisdictions in which such programs are prohibited by applicable laws or regulations. SingleKey reserves the right to disqualify any Users from participating in the Referral Program at any time in its sole discretion, including but not limited to cases where Users do not comply with any of these Terms of Use.  (i) How the Referral Program WorksTo participate in the program, existing Users shall send a referral link to a non-existing User. When the non-existing User (“Referee”) accepts the referral link (“Referral Link”) and creates an account on the Site, the referring User shall be deemed a referrer (“Referrer”) pursuant to the Referral Program. When the Referee makes a purchase through the Referral Link, the Referrer may be credited with one (1) reward in the form and value determined by SingleKey, in its sole discretion. The Referee will also receive a discount for using the Referral Link for their purchase. (ii) RewardsRewards granted by SingleKey as part of its Referral Program have no monetary value and may not be redeemed cash. Rewards are not transferable and may not be auctioned, traded, bartered, returned or sold. Upon termination of the Referral Program, in whole or in part, any unredeemed Reward is forfeited and cannot be claimed. The values reflected in a User’s account are the values that SingleKey shall act based on. All Rewards are issued at the discretion of SingleKey. (i) SingleKey Marketplace SingleKey offers the opportunity for Users to connect with select service providers available on SingleKey’s Marketplace. By agreeing to these T&C, Users hereby agree and acknowledge that SingleKey may use your personal information to contact you with information about special offers and rewards (this may include special offers of other carefully selected companies).  7. Accepting the Terms of Use and Additional Terms By accessing and using the Site in any manner, you acknowledge that you have read these Terms of Use and all of the terms and conditions contained herein.  Before continuing to use the Site, please read these Terms of Use and contact us if you have any questions. SingleKey reserves the right to amend, modify and supplement these Terms of Use from time to time as it sees fit with additional terms and conditions that govern certain information, content, products and services made available to you via the Site (“Additional Terms”).  By accessing and using the Site and the Platform, you accept and agree to comply with and be bound by such Additional Terms.  Please review these Terms of Use from time to time to ensure that you are aware of and understand any Additional Terms.  The Additional Terms and the Privacy Statement (located on the Site) are hereby incorporated by reference into these Terms of Use and form part of the legally binding agreement between you and us. To the extent that there is a conflict between these Terms of Use and any Additional Terms, the Additional Terms shall govern. These Terms of Use will remain in full force and effect as long as you are a user of the Site and, in the event of termination of any product, service or feature, you will still be bound by your obligations under these Terms of Use and the Privacy Statement, and any Additional Terms. 8. Click-Through Agreements Before you use certain areas of the Site, you may be asked to indicate your acceptance of certain special terms and conditions by clicking on a button marked “OK” or “I agree.” Any special terms and conditions to which you agree will supplement and amend these Terms of Use.   9. Links to Third-Party Sites Use of certain links on the Site will direct you away from the Site to third party websites. Such third party websites are not under the control of SingleKey, and SingleKey is not responsible for the contents of any such website or any link contained in such website. The third party links included on the Site are provided for your convenience, and the inclusion of such links does not imply a recommendation or endorsement by SingleKey of any such website or the products or services offered therein. 10. Privacy and Personal Information We may use your email address to verify your identity, protect against fraud, and contact you. In addition, we may use it to send you updates about your user account, new products and services, and Site updates. Personal information submitted by users to the Site may be employed for the purposes of maintaining the integrity of the Site and its contents, contacting our users when necessary, and improving the quality of service provided by the Site. SingleKey servers also collect information specific to how you use the Internet. SingleKey servers note details such as the server you are logged onto and your IP address. This information is obtained solely for the purpose of maintaining the Site’s integrity and improving our service. SingleKey may ask you for more personal information from time to time in a survey format. This information is specifically used to ensure that the Site is up-to-date and relevant, and that the products and services provided to you in advertising format are relevant and of interest to you. Any information used as demographics will not reveal the source, and will be kept secure. This further information provided by you is on an optional basis. SingleKey will employ a data measurement service for tracking the performance of an ad on behalf of the advertiser. The information collected will not contain personal elements, and will only be shared with that particular advertiser. SingleKey reserves the right to disclose your personally identifiable information as required by law and when we believe that disclosure is necessary to protect our rights and/or comply with a judicial proceeding, court order, or legal process served on our Site(s); or to protect our SingleKey and our Users. While we make every effort to ensure the integrity and security of our network and systems, we cannot guarantee that our security measures will prevent third-party “hackers” from illegally obtaining this information. For more information about SingleKey’s treatment and protection of personal information, please read our privacy policy at www.singlekey.com/en-ca/privacy-policy. This policy explains how SingleKey treats your personal information, and protects your privacy, when you use the Site. Questions or requests with respect to your personal information may be sent via email to info@singlekey.com. 11. Ownership of Intellectual Property Rights The Site together with all trade-marks and other intellectual property displayed, distributed, or otherwise made available via the Site, including and not limited to any Content, data, materials, information, tools, database rights, patents, copyrights, trademarks (whether registered or unregistered), trade secrets, design rights (whether registered or unregistered) know-how, mask works, moral rights, and all similar rights that may exist now or later in any jurisdiction, including without limitation any applications and registrations for the foregoing, and the SingleKey name, logos, designs, domain names, graphics, icons, scripts, service marks, features, functions, text, graphics, button icons, scripts, service marks, images, software, data compilations and other distinctive brand features, and the compilation and organization thereof (collectively, “Intellectual Property”) is the exclusive property of SingleKey, and its successors, assigns, licensors, and/or suppliers. Unless you have agreed otherwise in writing with SingleKey, nothing in these Terms of Use gives you a right to use any of the Intellectual Property. You may not assign or transfer any of the Intellectual Property and you may not grant a license to use or access the Site to any party. You may use the Site and the Contents solely for your non-commercial and limited personal use and for no other purposes.  No information or statement contained in these Terms of Use or the Site shall be construed as conferring, directly or by implication, estoppel or otherwise, any license or right under any patent, copyright, trade-mark, or other intellectual property right of SingleKey or any third party.  You must not alter, delete, or conceal any copyright or other notices contained on the Site, including notices on any of the Contents that you are permitted to download, transmit, display, print, or reproduce from the Site. You may not allow any third party (whether or not for your benefit) to reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party (including, without limitation, on or via a third party website), or otherwise use, any Contents without the express prior written consent of SingleKey or its owner if SingleKey is not the owner.  Any unauthorized or prohibited use of any Contents may subject you to civil liability, criminal prosecution, or both, under applicable federal, provincial, state and local laws.  You may not create a link to the Site without SingleKey’s prior permission.  We may, however, if requested, grant a limited, nonexclusive right to create a link to the Site provided that such link is to the entry page of the Site and does not portray SingleKey or any of its activities or services in a false, misleading, derogatory, or otherwise negative manner.  The limited rights granted to you under these Terms of Use may be revoked by SingleKey at any time for any reason whatsoever.  Links to third party websites on the Site are provided solely as a convenience to you. If you use these links, you will leave the Site.  SingleKey does not control and is not responsible for any of such third party websites, their content or their policies, including, without limitation, privacy policies or lack thereof. SingleKey does not endorse or make any representations about such third party websites or any information, software, products and services located there, or any results that may be obtained from using such software, products and services.  If you decide to access any of the third party websites linked to the Site, you do so entirely at your own risk.  You acknowledge and agree that SingleKey shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with the use of or reliance on any such third party websites.   12. Intellectual Property Infringement We take intellectual property rights, both our own and others, very seriously.If you are an owner of intellectual property (or the owner’s authorized agent) and believe that any of the Contents or the Site infringes your intellectual property, please notify us using the following procedure:Please send a written notice of intellectual property infringement to info@singlekey.com.In your written notice, please provide the following information:Identification of the intellectual property claimed to have been infringed;Identification of the Contents that you claim are infringing your intellectual property;Information sufficient to permit us to contact you, such as an address, telephone number, and, if available, an electronic mail address at which you may be contacted;A statement that you believe that use of the Contents in the manner complained of is not authorized by the owner, its agent, or the law; andA statement that the information in the notification is accurate, and under penalty of perjury, that you are the owner or are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed. 13. Third-Party Information Any third-party content, data or publications made available through the Site are furnished by SingleKey on an as-is basis for your convenience and information. Any opinions, advice, statements, services, offers, or other information made available by third parties, including program hosts, information providers, or any user of the Site, are those of the respective author(s) or publisher(s) and not of SingleKey. SINGLEKEY DISCLAIMS ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, THAT THE INFORMATION IN SUCH PUBLICATIONS IS ACCURATE OR COMPLETE. 14. No Warranty YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SITE IS AT YOUR SOLE RISK AND THAT THE SITE AND THE CONTENTS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”IN PARTICULAR, SINGLEKEY AND ITS LICENSORS DO NOT REPRESENT OR WARRANT TO YOU THAT: (a) YOUR USE OF THE SITE WILL MEET YOUR REQUIREMENTS, (b) YOUR USE OF THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE OR FREE FROM ERROR, (c) ANY INFORMATION OBTAINED BY YOU AS A RESULT OF YOUR USE OF THE SITE WILL BE ACCURATE OR RELIABLE, AND (d) THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF ANY SOFTWARE PROVIDED TO YOU AS PART OF THE SITE WILL BE CORRECTED. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL.NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM SINGLEKEY OR THROUGH OR FROM THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS OF USE.SINGLEKEY FURTHER EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. 15. Limitation of Liability SUBJECT TO SECTION 14 ABOVE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT SINGLEKEY, AND ITS LICENSORS SHALL NOT BE LIABLE TO YOU FOR: (a) ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOSS OF GOODWILL OR BUSINESS REPUTATION, LOSS OF DATA SUFFERED, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR OTHER INTANGIBLE LOSS; AND(b) ANY LOSS OR DAMAGE WHICH MAY BE INCURRED BY YOU, INCLUDING BUT NOT LIMITED TO LOSS OR DAMAGE AS A RESULT OF: (i) ANY RELIANCE PLACED BY YOU ON THE COMPLETENESS, ACCURACY OR EXISTENCE OF ANY ADVERTISING, OR AS A RESULT OF ANY RELATIONSHIP OR TRANSACTION BETWEEN YOU AND ANY ADVERTISER OR SPONSOR WHOSE ADVERTISING APPEARS ON THE SITE;(ii) ANY CHANGES WHICH SINGLEKEY MAY MAKE TO THE SITE, OR FOR ANY PERMANENT OR TEMPORARY CESSATION IN THE PROVISION OF THE SITE (OR ANY FEATURES WITHIN THE SITE);(iii) THE DELETION OF, CORRUPTION OF, OR FAILURE TO STORE, ANY USER CONTENT AND OTHER COMMUNICATIONS DATA MAINTAINED OR TRANSMITTED BY OR THROUGH YOUR USE OF THE SITE;(iv) YOUR FAILURE TO PROVIDE SINGLEKEY WITH ACCURATE ACCOUNT INFORMATION;(iv) YOUR FAILURE TO KEEP YOUR PASSWORD OR ACCOUNT DETAILS SECURE AND CONFIDENTIAL. THE LIMITATIONS ON SINGLEKEY’S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT SINGLEKEY HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING. 16. Disclaimers SingleKey informs Users of the following disclaimers: Users recognise that SingleKey receives information included in the Reports from independent third parties that are outside of the control of SingleKey. SingleKey is not responsible for the contents incorporated within the Report whether correct or incorrect. Should discrepancies arise, Users have the right to raise a dispute through the Third-Party Agency themselves. Users agree to give up the right to raise such a dispute with SingleKey and thus hold SingleKey harmless and not liable for such incorrect information. The Report should not be the sole basis for any decision by any User. Users should consider other factors that a reasonable decision-maker in a similar situation would take into account. It is recommended that Users not assume a result or finding based solely on a Report. SingleKey does not represent that the Report is identical or similar to any other credit score, rating model or evaluation tool. The credit information contained in the credit report aspect of the SingleKey Credit and Background Check Report is a reflection of the latest data available to Third Party credit reporting agencies. Therefore, certain transactions or recent charges made that may affect the relevant credit score may not be made immediately available because a credit score is subject to change. Criminal record aspect of our Report is data provided by a Third-Party reporting agency and may not be available for all applicants or at all times for various reasons, including reasons beyond our control (ie: User input error). We are not a government agency and do not control or verify the contents of criminal record reports or motor vehicle reports, including reports obtained through the Service. We are not responsible for the contents of any criminal record report or motor vehicle report, whether correct or incorrect. Thus, you agree to hold SingleKey harmless for any harm arising or that may arise from your reliance on a Report. SingleKey does not warrant that their services will be carried out without interruption or errors. If a Report contains incorrect scores, SingleKey’s sole duty to the Landlord in such cases will be to reproduce a new report or, should the error be unresolvable, issue a partial or full refund for the Report (at the discretion of SingleKey). SingleKey is not responsible under any circumstances for carrying out any vetting process or other form of check on a Landlord. SingleKey is not responsible for any transaction between Tenant and Landlord or any unfavourable outcome that may arise. SingleKey does not make any representations, warranties or guarantees other than those expressly set out in these Terms and Conditions. SingleKey is not to be held responsible for the fulfillment of the terms and conditions of the Rental Guarantee Program. SingleKey is not responsible for any loss or damage caused, as a result of the failure of a score used to accurately predict the potential worthiness of an individual. 17. Termination We may terminate your use of the Site and/or access to the Contents, features, functionality, products and services made available in connection therewith, at any time and for any reason, with or without cause, without prior notice to you and without any liability or further obligation of any kind whatsoever to you or any other party. If you want to terminate your account with SingleKey, you may do so by closing your account, where SingleKey has made this option available to you. SingleKey may at any time, terminate your use of the Site if: (a) you have breached any provision of these Terms of Use (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of the Terms of Use); (b) SingleKey is required to do so by law (for example, where the provision of the Site to you is, or becomes, unlawful); (c) the Third-Party Partner with whom or through whom SingleKey offered the services to you has terminated its relationship with SingleKey or ceased to offer the services to you; (d) SingleKey is transitioning to no longer providing the Site to users in the country in which you are resident or from which you use the Site; or(e) the provision of the Site to you by SingleKey is, in SingleKey’s opinion, no longer commercially viable. When these Terms of Use come to an end, all of the legal rights, obligations and liabilities that you and SingleKey have benefited from, been subject to (or which have accrued over time while the Terms of Use have been in force) or which are expressed to continue indefinitely, shall be unaffected by such termination. 18. Indemnification You agree to indemnify, defend, and hold harmless SingleKey and its successors and assigns, and any of their respective officers, directors, employees, Users, agents, representatives, licensors, advertisers, and suppliers from any liability, loss, claim, and expense (including reasonable legal fees) related to (a) your violation of these Terms of Use; (b) your use of the Site; (c) SingleKey acting in accordance of a Landlord User’s instructions; (d) non-payment of rent by a Tenant User; (e) non-payment or delay of payment by Payor for any reason whatsoever; and (f) any breach of representations, warranties, or covenants herein by User. This provision shall survive the termination of (a) User’s use of the Site or User’s account; or (b)  the termination of User’s relationship with SingleKey.  We reserve the right to assume, at our sole expense, the exclusive defense and control of any such claim or action and all negotiations for settlement, or compromise, and you agree to fully cooperate with us in the defense of any such claim, action, settlement or compromise negotiations, as we may request.  19. General These Terms of Use, together with any Additional Terms, the Privacy Statement and the Copyright Statement constitute the entire agreement between you and SingleKey relating to your use and our provision of the Site.  You agree that SingleKey may provide you with notices, including those regarding changes to these Terms of Use, by email, regular mail, or postings on the Site. You agree that if SingleKey does not exercise or enforce any legal right or remedy which is contained in these Terms of Use (or which SingleKey has the benefit of under any applicable law), this will not be taken to be a formal waiver of SingleKey’s rights and that those rights or remedies will still be available to SingleKey. If any provision of these Terms of Use is held to be illegal, invalid or unenforceable, this will not affect any other provision of these Terms of Use and the agreement between you and us will be deemed amended to the extent necessary to make it legal, valid, and enforceable.  The laws of the Province of Ontario and the federal laws applicable therein shall govern these Terms of Use in all respects, without giving effect to conflicts of laws principles. 20. Obtaining SINGLEKEY’s Consent To request the consent of SingleKey for any of the actions for which such consent is required under these Terms of Use, please send an e-mail to info@singlekey.ca. SingleKey reserves the right to refuse any such requests in its sole discretion. Terms of Use Published on Oct 18, 2021 | Updated on Mar 10, 2025 1. IntroductionThe following terms and conditions are the Terms of Use for our website and platform located at: www.singlekey.com (the “Site”) made available by SingleKey Inc., including its affiliates and any other wholly owned subsidiaries  (“SingleKey”, “SingleKey”, “we”, “us” or “our”).The purpose of the Site is to provide users (“User(s)” or “you”) with a technology platform (“Platform”) that facilitates communication between landlords and tenants, and facilitates access to landlord and tenant related products and services as may be available from time to time, provided by our partners and suppliers, including and not limited to: prescreening, application and screening,  leased property information, electronic lease execution, rental collection, rent guarantee services, rent reporting, credit monitoring, and other information, products, and services relating to SingleKey’s mission, approach and initiatives (“Platform Services”). The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork, graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or we explicitly say so in writing, the term “Site” includes all of the Contents. These Terms of Use constitute a legally binding agreement between you and SingleKey regarding your use of and access to the Site. These Terms of Use do not alter in any way the terms and conditions of any other agreement you may have with SingleKey, unless otherwise agreed to in writing by SingleKey. If you breach any of these Terms of Use, your authorization to use the Site automatically terminates and you must immediately destroy any Contents in your possession and discontinue all use of the Site.2. Provision of the Site by SINGLEKEYYou acknowledge and agree that the form and nature of the Site may change from time to time without prior notice to you.You acknowledge and agree that SingleKey may stop (permanently or temporarily) providing the Site, Platform, Platform Services, or any features within the Site to you or to users generally, at SingleKey’s sole discretion, without prior notice to you. You may stop using the Site at any time. You do not need to inform SingleKey when you stop using the Site or any of its features.You acknowledge and agree that if SingleKey disables access to your account, you may be prevented from accessing the Site, your account details or any files or other content which is contained in your account.3. Use of the Site by YouYour use of the Site is subject to all applicable local, provincial, state and federal laws and regulations. You may not use, allow, or enable others to use the Site, or knowingly condone use of the Site by others, in any manner that is, attempts to, or is likely to:be obscene, fraudulent, defamatory, libelous, indecent, discourteous, racially or ethnically offensive, harassing, threatening, abusive, pornographic or discriminatory;affect us adversely or reflect negatively on us, the Site, our goodwill, name or reputation or cause duress, distress, or discomfort to us or anyone else, or discourage any person, firm, or enterprise from using all or any portion, features, or functions of the Site, or from advertising, linking, or becoming a supplier to us in connection with the Site;send or result in the transmission of junk e-mail, chain letters, duplicative or unsolicited messages, or so-called “spamming” and “phishing”;transmit, distribute, or upload content or programs that contain any viruses, Trojan horses, worms or other disabling devices or harmful components intended to damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or personal information;modify, disrupt, impair, alter, or interfere with the use, features, functions, operation, or maintenance of the Site or the rights or use and enjoyment of the Site by any other user;advocate or encourage any illegal activity;infringe upon or misappropriate the copyright, patent, trademark, trade secret, publicity rights or other intellectual property or proprietary rights of SingleKey or any third party;violate the privacy of any individual, including users of the Site; orviolate any applicable local, provincial, state or national laws or regulations (anywhere in the world). Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not: reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose;send commercial electronic messages;collect, use, or disclose personal information in violation of applicable privacy legislation in the jurisdiction in which the content is posted or viewed; oruse or attempt to use the Site for advertising or promotional purposes related to any business you conduct commercially, nor shall you solicit, invite or accept any commercial offers made available via the Site;In order to access certain products and services on the Site or as part of the account registration process, you are required to provide information about yourself (such as identification or contact details). You agree that any registration information you give to SingleKey will always be accurate, correct and up to date. You may be requested by SingleKey to update this information from time to time, at SingleKey’s discretion.Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose.You agree that you are solely responsible for (and that SingleKey has no responsibility to you or to any third party for) any breach of your obligations under these Terms of Use and for the consequences (including any loss or damage which SingleKey may suffer) of any such breach.4. Account RegistrationIn order to access certain products and services on the Site you will be required to register as a User. As part of the account registration process, you may be required to provide information about yourself (such as government issued identification or contact details). You agree that any registration information you give to SINGLEKEY will always be accurate, correct and up to date. Before your account is created, SingleKey shall have the right to verify your personal information to ensure that its Site is being used for permissible purposes. SingleKey reserves the right to request any additional documentation or information from you prior to accepting your account registration. You must not register an account on the Site in a name other than a name legally recognised as being your real name. You also agree that you will be the only authorized user of the Site under these Terms of Use and will be solely responsible for the confidentiality of any user name and password supplied by you or provided to you. Should you become aware of any unauthorized use of your username or password with respect to any activity on the Site, you must immediately notify us via email or otherwise in writing. Upon receipt of such notice, we will take reasonable steps to stop any activity using your username or password, but neither SingleKey, nor any of its respective directors, officers, employees, agents, representatives or affiliates can or will have any responsibility or liability to any person whose claim may arise for any claims with respect to the handling or mishandling of any transaction on the Site resulting from the unauthorized use of your username or password.In using the Site and operating a User account, you warrant, represent and undertake that:you will be the only person who will use the Site using your account, and that you will not allow any other person, whether or not acting under your instructions, to use your account for any reason, and will actively take steps to prevent any other person to do such, and that in the event any other person uses your account, you are to be held responsible for any losses and damages caused as a result of that use;you will not use the account of any other person for any purpose;you will keep confidential any information you obtain that relates to any other User, including actual names and addresses of other Users, and will not publish or reproduce such information in any form, including without limitation on the Site, or on any external websites unaffiliated with SingleKey or in any print medium, without the prior written permission of the relevant User and SingleKey;you acknowledge that SingleKey is not liable for any breach of these Terms of Use by any other User or otherwise in relation to transactions carried out by means of the Site; andSINGLEKEY is not responsible for any losses you incur due to informational or technical errors in the account registration process, and will not be liable for any loss or damage you incur as a result of an unauthorised person using your account, including the use of any personal details you provide in the account registration process. you shall not: (a) transmit data that is illegal, harmful, threatening, insulting, disturbing, injurious, obscene, defamatory, unacceptable from a racial or ethnic perspective; (b) violate any of SingleKey’s intellectual property rights; (c) unlawfully gather information about others; (d) use any information obtained from the Site in order to harass, abuse, or harm another person; (e) attempt to impersonate another User or person or use the username of another User; (f) publish or otherwise transmit any malicious software or other computer codes, files or programs designed to interrupt, disrupt or restrict the operation of the Site, the Platform, Platform Services, our computer software, hardware, telecommunications equipment or to disrupt the normal transactions onto the Site or Platform; (g) use any robot, spider, offline reader, site search, retrieval application or other manual or automatic device or process to retrieve, index, data mine or in any way reproduce or circumvent the structure or presentation of the Site, its contents, or any processed data; (h) make improper use of our support services, submit false requests, or make any speculative or fraudulent background request orders; (i) modify, adapt, sub-license, “frame”, “mirror”, translate, sell, reverse engineer, decompile or disassemble any portion of the Site or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Site, Platform, or Platform Services thereto; (j) use, or attempt to use, the Site for unauthorized purposes; (k) use the Site for the benefit of any third party without SingleKey’s prior written permission; (l) create derivative works based on the Site or use the Site, Platform, and/or Platform Services to develop a competitive product offering; or (m) modify, remove, or obscure any copyright, trademark, patent or other notices or legends that appear on the Site and/or Platform.5. Submission of ContentThe Site encourages submissions to the Site by its Users to access certain products and services. You acknowledge and agree that if you submit any information, including text, images, documents, other media, or any other material you make available to the Site, whether by posting, uploading, displaying, performing, transmitting or otherwise, or which you otherwise provide to SingleKey in respect of your use of the Site (“User Content”) you will be solely responsible for such User Content. SingleKey will not be liable in any way for any such User Content submitted. You further agree that you will not:submit any User Content which is harassing, abusive, threatening, harmful, libelous or defamatory, encourages conduct that could constitute a criminal offense or give rise to civil liabilities, or is unlawful in any other way.submit any User Content protected by intellectual property laws or by rights of privacy, unless you own the rights thereto or have received all necessary consents. You shall be solely liable for any damage resulting from any infringement of copyright, trademark or other proprietary rights;submit any User Content which contains a virus or other harmful components;engage in activity that interferes with or disrupts the use of the Site by other users;submit any User Content that encourages any illegal activities, or provides guidance or instructional activities about such illegal activities;make any false representation, including impersonation of any person or entity or misrepresentation of your affiliation with any person or entity; ormake use of any User Content for commercial purposes, such as advertising any products or services, reselling or publishing the information posted or transmitted.You represent and warrant that: (i) you own the User Content posted by you on or through the Site or otherwise have the right to grant the rights and licenses set forth in these Terms of Use; (ii) the posting and use of User Content on or through the Site does not violate, misappropriate or infringe on the rights of any third party, including, without limitation, privacy rights, publicity rights, copyrights, trademark and/or other intellectual property rights; (iii) you agree to pay for all royalties, fees, and any other monies owed by reason of User Content you post on or through the Site; and (iv) you have the legal right and capacity to enter into these Terms of Use in your jurisdiction.SingleKey does not pre-screen, monitor or edit the User Content posted or submitted to the Site. However, SingleKey reserves the right to edit, limit or remove any such User Content in its sole discretion. Notwithstanding, you shall remain solely responsible for any User Content you submit or post.When participating in, accessing, or viewing any posted User Content on the Site, you may be exposed to User Content that is inaccurate, incomplete or unsuitable. Please notify SingleKey (with the contact information posted at the bottom of this document) of any illegal or inappropriate User Content, and SingleKey will take appropriate action. SingleKey will ensure that any offending comments are removed, and take appropriate action against the offender. SingleKey will not be responsible for the User Content or accuracy of any information, and shall not be responsible for any acts taken or decisions made based on such information.SingleKey may establish procedures and practices relating to the use of and participation in the Site. Such procedures and practices may include limitations on the number of entries and the size of files that may be submitted, limitations on the number and type of User Content submitted at any given time and the number of days content will be saved before deletion. SingleKey will not be responsible for any User Content deleted by SingleKey or otherwise, or for your inability to submit any User Content.You hereby grant SingleKey a perpetual, worldwide, royalty-free, transferable, sub-licensable right to use, copy, distribute, transmit, display, communicate to other Users, reproduce, edit, translate and reformat the User Content in connection with the operation of the Site, Platform and Platform Services, except as otherwise limited by the Privacy Policy.6. Accessing Various Functions on SingleKey Platform SingleKey’s Site and Platform provides Users access to a variety of products and services that are created, offered, supported and maintained by third-parties (“Third-Party Partners”) unaffiliated with SingleKey, including and not limited to Certn, Equifax, Transunion, and other vendors, suppliers, and entities that have established a business or contractual relationship with SingleKey. Notwithstanding anything to the contrary in these Terms of Use, you acknowledge and agree that: (a) you access or deploy Platform Services which may be, in whole or in part, created, offered, supported and maintained by Third-Party Partners (“Third-Party Services”), at your sole discretion; (b) you shall read and abide by these Terms of Use in addition to any terms and conditions and privacy policies associated with any Third-Party Services which govern your use of such Third-Party Services; (c) SingleKey does not own or control Third-Party Partners or Third-Party Services; (d) SingleKey does not in any way warrant the accuracy, reliability, security, completeness, usefulness, non-infringement, or quality of any Third-Party Services; and (e) you bear all risks associated with using or relying on Third-Party Services.     (a) SingleKey Tenant Screening ReportSingleKey’s Tenant Screening Report (the “Report”) contains a compilation of User Content as well as data from third-party reporting agencies (including, but not specifically limited to personal information, credit information and history, education and employment information, and background check information provided and generated by credit bureaus, government agencies, police agencies, news publications, public court databases and other third-party sources (“Report Data”). Users hereby agree and acknowledge that the Platform solely provides and facilitates Users with access to the Report Data and all such Report Data is sourced and generated by SingleKey’s Third Party Partners who are reporting agencies, and not by SingleKey. Additionally, the User understands that the court document scan included in the Report is a scan of publicly available records only and is not a representation of official RCMP or FBI police clearance reports or local court record check. Users hereby agree and acknowledge that ordering a Report on a tenant applicant does appear as an inquiry on the tenant applicant’s credit file, however, it does not have a significant impact on the applicant’s credit score.    (i) Enter Tenant InformationA User who is a landlord (“Landlord”) is required to obtain written consent from SingleKey before being able to order a Report on the Site. By selecting “YES” (or similar) for a Report on the Site, Landlord hereby provides SingleKey with express and irrevocable consent: a) to SingleKey to make requests to the relevant third-parties to generate the Report Data; b) to SingleKey’s third-party providers to generate the Report Data and provide the same to SingleKey, to be shared in the Report to Landlord; and c) to pay SingleKey the fees associated with access to the Report on the Site as further detailed in subsection 6(a)(iii) herein.  Should a Landlord fail to provide SingleKey with written or other sufficient proof that Landlord has obtained the necessary consent from the tenant to enable Report Data to be generated by SingleKey’s third-party providers, or any other documents requested by SingleKey at the time in which a Report is requested by Landlord, SingleKey maintains the right to block, or un-verify Landlord’s User account.    (ii) Invite TenantIf an individual or User who is a prospective tenant (“Tenant”) submits User Content to SingleKey via the  “Invite Tenant” method or link, such submission shall be deemed as an act of Tenant providing SingleKey with express consent to incorporate the User Content in the Report, to request the relevant Third-Party Partner to generate further Report Data with respect to the Tenant, and to enable the relevant Landlord(s) reviewing the Tenant’s application access to the Report on the Site.           (iii) Final ProductPayment is required to process and complete an applicant’s request for a Report. All payments are made through a third party processor. Any report purchased by a User will remain in the Users account for up to ninety (90) days. After ninety (90) days, the report will be removed from the Account. Should a User need to access an old report, please contact info@singlekey.com. The Report is available for viewing through the User’s Account on the Site. The Tenant also hereby grants SingleKey, the Landlord, Landlord’s agent, representative or property manager, express but revocable permission to view Tenant’s Report and perform any due diligence necessary (at their discretion), including but not limited to pulling a full credit report from one or multiple credit bureaus, contacting references, or verifying proof of income. By providing consent, potential applicants authorize SingleKey, and SingleKey’s Third-Party Partner reporting agency to access personal information to generate a Report. The applicant consents to the use, collection and controlled disclosure of their personal information including rental, court, employment, banking and financial history in accordance with SingleKey’s Privacy Policy. Any misrepresentation constitutes valid legal grounds for rejection of a Tenant’s application by either a Landlord or SingleKey.    (b) SingleKey Rent Guarantee Program    (i) Rent Guarantee EnrollmentIn order to access Rent Guarantee services provided by SingleKey’s third-party insurance partners, User must be subscribed to or have purchased any of the following: (a) SingleKey’s Tenant Screening Report services; (b) SingleKey’s online rent collection services; (c) electronic leasing services; and/or (d) any other products or services SingleKey may offer.     (ii) SingleKey – Landlord RelationshipUsers hereby acknowledge and understand that SingleKey’s role is to onboard and support Users. The scope of SingleKey’s obligation to Users are limited to providing User with customer service, customer onboarding, providing access to a Report, supporting User in the collection and submission of all required documents to a third-party underwriter for the purposes of accessing Rent Collection services on the Platform as provided by SingleKey’s third-party providers. Users hereby waive and release SingleKey of any and all rights they may have in regard to SingleKey at law or in equity to any action of any kind in respect of the Tenant Service Agreement, Rent Payment Contract Bond,  Enhanced Tenant Screening Service Guarantee Agreement, Enhanced Tenant Passport Screening Service Guarantee Agreement, or any other agreements between the Principal and the landlord. Users also acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to be subject to the SingleKey Tenant Screening service or the SingleKey Rental Guarantee Program, and have conducted their own due diligence and enquiries before accepting these terms.As part of the Rent Guarantee program, Users must agree to the Terms and Conditions outlined herein. In order to register for the Rent Guarantee Program, Users must agree to be bound to SingleKey’s Tenant Service Agreement, or Enhanced Tenant Screening Service Agreement, or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.      (iii) SingleKey Credit and Background Check Report RefundWhere a User orders a Report and later upgrades to the Rent Guarantee program, SingleKey reserves the right, in its sole discretion, to offer a full refund to the Landlord in the amount up to the full price paid by the User for the Report. A User is not entitled to any such refund unless such refund is approved by SingleKey in its sole discretion.    (c) SingleKey Rent Collection PlatformThe Platform provides Users with access via a third-party pre-authorised debt and/or Interac E-transfer Request provider (a “3rd Party Payment Processor”) in connection to SingleKey’s rent collection services (“Rent Collection”) which facilitates the collection of rent for Landlords (as an optional feature), in accordance to the terms below. To engage with this feature, both payor and payee on the Platform must agree to sign and be subject to the terms and conditions outlined on the Pre-Authorised Debit Agreement. By “opting in” to using this service, both Payor and payee expressly consent to the terms and conditions governing the Rent Collection services accessible on the Site. Furthermore, Payor of the Pre-Authorised Debit transaction facilitated on the Site hereby agrees to allow SingleKey to use their account information to withdraw a specific rent amount from the account provided on a regular (monthly) basis for business purposes. Money is withdrawn and deposited into the Payee’s “designated account”. This service is offered in accordance with the Canadian Payment Association’s Pre-Authorized Debit Agreement, Rule H1 (Rule H1). Providing your banking information and completing the necessary forms through our Website will be viewed as meeting the necessary PAD terms. Their Payor or Payee may elect to terminate this service at any time.Users of the Rent Collection platform consent to the collection of personal information by SingleKey for several purposes including but not limited to maintaining and updating a credit report and for such information to be disclosed to other parties for the purpose of determining the suitability for tenancy, credit grantors assessing suitability for credit, and credit reporting agencies. Users understand that reporting will only be done where transactional proof is shown on the Rent Collection platform. Users acknowledge and understand that SingleKey cannot guarantee that certain information reported through our Rent Collection service will be used by reporting agencies, be reflected in a credit report or impact a credit score. As part of the process, individuals may be notified that they have been reported on.SingleKey may use a Third-Party Partner’s payment service, including that of a 3rd Party Payment Processor,  payment service to bill Users through an online account. By submitting payment account information, User grants SingleKey the right to store and process such information with the third-party payment service and agrees that SingleKey will not be responsible for any failures of the third-party payment service, including any failures to adequately protect such information. The processing of payments will be subject to the terms, conditions and privacy policies of such third-party payment service in addition to these Terms of Use.    (i) Pre-Authorised Debit TermsThe Pre-Authorised Debit agreement is for business purposes due to the nature of the relationship between Landlord, Tenant, and SingleKey, an entity which operates a Platform that supports the onboarding and commencement of a residential tenancy transaction. The tenant User who is the payor (“Payor”) in the transaction grants authorization for SingleKey and the identified payment institution (“Processing Institution”) to process Pre-Authorised Debit payments to the recipient landlord User (“Payee”). Permission is provided in consideration of the Processing Institution agreeing to process debits for the identified account. The Payor hereby acknowledges that the delivery of this authorization to SingleKey constitutes authorization to the Processing Institution. The Payor authorizes SingleKey to withdraw on this account via its 3rd-Party Payment Processor for the purpose of withdrawing the rent amount agreed to between the Payor and Payee. The PAD transactions may be cancelled, provided that notice is received ten (10) business days before the next date of transaction. The Payor agrees to waive the pre-notification period for debits. SingleKey outsources processing of payment to an independent third-party SingleKey to fulfill the PAD transaction. The Payor undertakes to inform SingleKey or the Payee, in writing, of any change to their account information provided in the authorization agreement prior to the next due date of the PAD. The Payor hereby acknowledges his/her understanding, acceptance and participation in a PAD plan, that has certain recourse rights if any debit does not comply with the Terms of Use. For example, the Payor has the right to receive reimbursement for any transaction that is not authorized or is not consistent with this PAD Agreement. To obtain more information on the Payor’s recourse rights, the Payor may contact its financial institution, or visit www.cdnpay.ca. The Payor’s authorization will be given on the official PAD agreement, in the form of a signature, to enable SingleKey to take payments as per these Terms of Use.    (ii) E-Transfer Request TermsIn the event the Landlord uses SingleKey’s Rent Collection platform and chooses to receive rental payments via Interac E-Transfer Payments from the Tenant, Tenants shall be sent an email request for e-Transfer payment via SingleKey’s Third-Party Payment Processor . To authorize the E-Transfer Request, Tenants are required to accept the Request by clicking the “accept” button in the email sent by Interac or SingleKey’s Third-Party Payment Processor. Failure to comply, or payments sent via any other methods or third-party payment processors not approved by SingleKey will not be honored, and may be lost at the Tenant’s expense.By accepting the E-Transfer request, the Tenant acknowledges, and irrevocably consents to sharing of payment history with various credit bureaus. Sharing of rental payment history may impact the Tenant’s credit score. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com.    (d) SingleKey Tenant Guarantor (or Tenant Passport Program)SingleKey offers Tenant Users a Tenant Guarantor service, a tiered package of services enabling their rental journey (the “Tenant Passport Program”). As part of the Tenant Passport Program, Users must agree to the terms and conditions of the SingleKey Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.Tenants will use the Platform to complete an online application form for the Tenant Passport.Information in the form will be used to determine eligibility for the Tenant Passport program based on their qualifying criteria as a New Tenant, as outlined in the guarantee contract.Users hereby agree and acknowledge that SingleKey shall be entitled to charge Users of its Tenant Guarantor service: (i) upon submitting an application to the Tenant Passport Program, a processing fee (“Tenant Passport Processing Fee”) in connection to reviewing User’s application documents, verifying User’s references, and performing a complete tenant screening report on the tenant User; and (ii)  upon acceptance into the Tenant Passport Program, a program fee that is up to fifteen percent (15%) of the annual rent that shall be paid by Tenant to the Landlord for the rental property tenanted, the tenancy of which was facilitated or supported by the Tenant Passport Program in part or whole.Upon acceptance into the Tenant Passport Program, SingleKey will provide the Tenant with revocable permission to market themselves as a “guaranteed Tenant” to prospective landlords and property managers for the sole purpose of securing a rental property for themselves. Users hereby agree and acknowledge that SingleKey may revoke Tenant’s right or status as a “guaranteed Tenant” and the marketing and branding rights in connection thereto, for any reason in SingleKey’s sole discretion, including and not limited to reasons relating to fraud, submission of fraudulent documents, failure to pay fees in connection to the Tenant Passport Program, etc.The named Landlord or Property Manager User on the Tenant Passport Program will be the beneficiary of the enhanced Tenant Passport Program and shall be entitled to reimbursements as outlined in the terms of the Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s sole discretion from time to time.  The Tenant Guarantor Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to establish a tenancy relationship between Tenant Users and Tenant Landlords utilizing the program, or establish any potential housing outcomes of a rental application. Users hereby agree and acknowledge that the Tenant Guarantor Program is only meant to support the process and Users may be declined for rent for any and all reasons by the Landlord. Users of SingleKey’s Tenant Guarantor Program hereby agree and acknowledge that SingleKey bears no responsibility or liability for any losses or damages arising from any results or outcomes of a rental application or from its Tenant Guarantor Program.     (e) SingleKey Rent CreditSingleKey’s Rent Credit services offer Tenant Users the opportunity to report their rental payments electronically to various Credit Bureaus, with the intention to help Tenant Users improve their credit ratings at the Credit Bureaus (the “Rent Credit Program”).Tenant Users will be asked to upload rental history documentation to the Platform, including but not limited to rent receipts, bank statements, and other proof of payments available at the time. Both on-time and late payments submitted to SingleKey may be reported to the credit bureaus. Tenant Users agree that they will upload all available information for a specific lease.The Rent Credit Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to increase Tenant Users’ credit scores. Credit scores are the proprietary property of their respective credit bureaus.By agreeing to T&C of Rent Credit, Users  consent to SingleKey providing information on Users’ rental payments to Equifax Canada, TransUnion Canada, Equifax USA, TransUnion USA, and/or Experian, and other relevant SingleKey third-party partners and suppliers. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com.    (f) SingleKey Credit HealthSingleKey’s Credit Health Program (“Credit Health”) offers Users the opportunity to track their credit score, monitor changes, spot potential issues, and understand opportunities to improve their creditworthiness by logging into the Platform and submitting requisite information onto the Platform.Credit Health data is provided by Equifax. For this reason, there may be variations between what users see in Credit Health versus what they see in other credit reports. Credit bureaus also use different credit models depending on the type of credit report run, so there may be variations between credit scores from the same credit bureau. Credit Health helps you dispute errors and fraud in your credit report.By agreeing to T&C of Credit Health, Tenant Users consent to SingleKey providing Equifax Canada the required User information for the User to access Equifax account and receive their credit information  from time to time.    (g) SingleKey Electronic LeasingSingleKey offers Users the opportunity to sign residential leasing documents electronically.Users acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to use the Electronic Leasing tool and have conducted their own due diligence and enquiries before accepting these Terms of Use. SingleKey does not offer legal, paralegal, notary, or other related services, nor does it guarantee the enforceability of documents signed on its Platform.    (h) SingleKey Referral ProgramSingleKey offers Users the opportunity to gain points and earn rewards, through its referral program (“Referral Program”). SingleKey reserves the right to modify, amend or terminate these Terms of Use and any rewards, in whole or in part, offered through the Referral Program, at any time for any reason.Users are bound by these Terms of Use and must meet certain criteria to participate in the Referral Program. Referrers are not permitted to participate in this referral program in jurisdictions in which such programs are prohibited by applicable laws or regulations. SingleKey reserves the right to disqualify any Users from participating in the Referral Program at any time in its sole discretion, including but not limited to cases where Users do not comply with any of these Terms of Use.     (i) How the Referral Program WorksTo participate in the program, existing Users shall send a referral link to a non-existing User. When the non-existing User (“Referee”) accepts the referral link (“Referral Link”) and creates an account on the Site, the referring User shall be deemed a referrer (“Referrer”) pursuant to the Referral Program. When the Referee makes a purchase through the Referral Link, the Referrer may be credited with one (1) reward in the form and value determined by SingleKey, in its sole discretion. The Referee will also receive a discount for using the Referral Link for their purchase.    (ii) RewardsRewards granted by SingleKey as part of its Referral Program have no monetary value and may not be redeemed cash. Rewards are not transferable and may not be auctioned, traded, bartered, returned or sold. Upon termination of the Referral Program, in whole or in part, any unredeemed Reward is forfeited and cannot be claimed. The values reflected in a User’s account are the values that SingleKey shall act based on. All Rewards are issued at the discretion of SingleKey.    (i) SingleKey MarketplaceSingleKey offers the opportunity for Users to connect with select service providers available on SingleKey’s Marketplace. By agreeing to these T&C, Users hereby agree and acknowledge that SingleKey may use your personal information to contact you with information about special offers and rewards (this may include special offers of other carefully selected companies). 7. Accepting the Terms of Use and Additional TermsBy accessing and using the Site in any manner, you acknowledge that you have read these Terms of Use and all of the terms and conditions contained herein.  Before continuing to use the Site, please read these Terms of Use and contact us if you have any questions. SingleKey reserves the right to amend, modify and supplement these Terms of Use from time to time as it sees fit with additional terms and conditions that govern certain information, content, products and services made available to you via the Site (“Additional Terms”).  By accessing and using the Site and the Platform, you accept and agree to comply with and be bound by such Additional Terms.  Please review these Terms of Use from time to time to ensure that you are aware of and understand any Additional Terms.  The Additional Terms and the Privacy Statement (located on the Site) are hereby incorporated by reference into these Terms of Use and form part of the legally binding agreement between you and us. To the extent that there is a conflict between these Terms of Use and any Additional Terms, the Additional Terms shall govern. These Terms of Use will remain in full force and effect as long as you are a user of the Site and, in the event of termination of any product, service or feature, you will still be bound by your obligations under these Terms of Use and the Privacy Statement, and any Additional Terms. 8. Click-Through AgreementsBefore you use certain areas of the Site, you may be asked to indicate your acceptance of certain special terms and conditions by clicking on a button marked “OK” or “I agree.” Any special terms and conditions to which you agree will supplement and amend these Terms of Use.   9. Links to Third-Party SitesUse of certain links on the Site will direct you away from the Site to third party websites. Such third party websites are not under the control of SingleKey, and SingleKey is not responsible for the contents of any such website or any link contained in such website. The third party links included on the Site are provided for your convenience, and the inclusion of such links does not imply a recommendation or endorsement by SingleKey of any such website or the products or services offered therein. 10. Privacy and Personal InformationWe may use your email address to verify your identity, protect against fraud, and contact you. In addition, we may use it to send you updates about your user account, new products and services, and Site updates. Personal information submitted by users to the Site may be employed for the purposes of maintaining the integrity of the Site and its contents, contacting our users when necessary, and improving the quality of service provided by the Site. SingleKey servers also collect information specific to how you use the Internet. SingleKey servers note details such as the server you are logged onto and your IP address. This information is obtained solely for the purpose of maintaining the Site's integrity and improving our service. SingleKey may ask you for more personal information from time to time in a survey format. This information is specifically used to ensure that the Site is up-to-date and relevant, and that the products and services provided to you in advertising format are relevant and of interest to you. Any information used as demographics will not reveal the source, and will be kept secure. This further information provided by you is on an optional basis. SingleKey will employ a data measurement service for tracking the performance of an ad on behalf of the advertiser. The information collected will not contain personal elements, and will only be shared with that particular advertiser. SingleKey reserves the right to disclose your personally identifiable information as required by law and when we believe that disclosure is necessary to protect our rights and/or comply with a judicial proceeding, court order, or legal process served on our Site(s); or to protect our SingleKey and our Users. While we make every effort to ensure the integrity and security of our network and systems, we cannot guarantee that our security measures will prevent third-party “hackers” from illegally obtaining this information. For more information about SingleKey’s treatment and protection of personal information, please read our privacy policy at www.singlekey.com/en-ca/privacy-policy. This policy explains how SingleKey treats your personal information, and protects your privacy, when you use the Site. Questions or requests with respect to your personal information may be sent via email to info@SingleKey.com. 11. Ownership of Intellectual Property RightsThe Site together with all trade-marks and other intellectual property displayed, distributed, or otherwise made available via the Site, including and not limited to any Content, data, materials, information, tools, database rights, patents, copyrights, trademarks (whether registered or unregistered), trade secrets, design rights (whether registered or unregistered) know-how, mask works, moral rights, and all similar rights that may exist now or later in any jurisdiction, including without limitation any applications and registrations for the foregoing, and the SingleKey name, logos, designs, domain names, graphics, icons, scripts, service marks, features, functions, text, graphics, button icons, scripts, service marks, images, software, data compilations and other distinctive brand features, and the compilation and organization thereof (collectively, “Intellectual Property”) is the exclusive property of SingleKey, and its successors, assigns, licensors, and/or suppliers. Unless you have agreed otherwise in writing with SingleKey, nothing in these Terms of Use gives you a right to use any of the Intellectual Property. You may not assign or transfer any of the Intellectual Property and you may not grant a license to use or access the Site to any party. You may use the Site and the Contents solely for your non-commercial and limited personal use and for no other purposes.  No information or statement contained in these Terms of Use or the Site shall be construed as conferring, directly or by implication, estoppel or otherwise, any license or right under any patent, copyright, trade-mark, or other intellectual property right of SingleKey or any third party.  You must not alter, delete, or conceal any copyright or other notices contained on the Site, including notices on any of the Contents that you are permitted to download, transmit, display, print, or reproduce from the Site. You may not allow any third party (whether or not for your benefit) to reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party (including, without limitation, on or via a third party website), or otherwise use, any Contents without the express prior written consent of SingleKey or its owner if SingleKey is not the owner.  Any unauthorized or prohibited use of any Contents may subject you to civil liability, criminal prosecution, or both, under applicable federal, provincial, state and local laws.  You may not create a link to the Site without SingleKey’s prior permission.  We may, however, if requested, grant a limited, nonexclusive right to create a link to the Site provided that such link is to the entry page of the Site and does not portray SingleKey or any of its activities or services in a false, misleading, derogatory, or otherwise negative manner.  The limited rights granted to you under these Terms of Use may be revoked by SingleKey at any time for any reason whatsoever.  Links to third party websites on the Site are provided solely as a convenience to you. If you use these links, you will leave the Site.  SingleKey does not control and is not responsible for any of such third party websites, their content or their policies, including, without limitation, privacy policies or lack thereof. SingleKey does not endorse or make any representations about such third party websites or any information, software, products and services located there, or any results that may be obtained from using such software, products and services.  If you decide to access any of the third party websites linked to the Site, you do so entirely at your own risk.  You acknowledge and agree that SingleKey shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with the use of or reliance on any such third party websites.   12. Intellectual Property InfringementWe take intellectual property rights, both our own and others, very seriously. If you are an owner of intellectual property (or the owner's authorized agent) and believe that any of the Contents or the Site infringes your intellectual property, please notify us using the following procedure: Please send a written notice of intellectual property infringement to info@singlekey.com. In your written notice, please provide the following information:Identification of the intellectual property claimed to have been infringed;Identification of the Contents that you claim are infringing your intellectual property;Information sufficient to permit us to contact you, such as an address, telephone number, and, if available, an electronic mail address at which you may be contacted;A statement that you believe that use of the Contents in the manner complained of is not authorized by the owner, its agent, or the law; andA statement that the information in the notification is accurate, and under penalty of perjury, that you are the owner or are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.13. Third-Party InformationAny third-party content, data or publications made available through the Site are furnished by SingleKey on an as-is basis for your convenience and information. Any opinions, advice, statements, services, offers, or other information made available by third parties, including program hosts, information providers, or any user of the Site, are those of the respective author(s) or publisher(s) and not of SingleKey. SINGLEKEY DISCLAIMS ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, THAT THE INFORMATION IN SUCH PUBLICATIONS IS ACCURATE OR COMPLETE. 14. No WarrantyYOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SITE IS AT YOUR SOLE RISK AND THAT THE SITE AND THE CONTENTS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”IN PARTICULAR, SINGLEKEY AND ITS LICENSORS DO NOT REPRESENT OR WARRANT TO YOU THAT: (a) YOUR USE OF THE SITE WILL MEET YOUR REQUIREMENTS, (b) YOUR USE OF THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE OR FREE FROM ERROR, (c) ANY INFORMATION OBTAINED BY YOU AS A RESULT OF YOUR USE OF THE SITE WILL BE ACCURATE OR RELIABLE, AND (d) THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF ANY SOFTWARE PROVIDED TO YOU AS PART OF THE SITE WILL BE CORRECTED. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM SINGLEKEY OR THROUGH OR FROM THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS OF USE. SINGLEKEY FURTHER EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. 15. Limitation of LiabilitySUBJECT TO SECTION 14 ABOVE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT SINGLEKEY, AND ITS LICENSORS SHALL NOT BE LIABLE TO YOU FOR: (a) ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOSS OF GOODWILL OR BUSINESS REPUTATION, LOSS OF DATA SUFFERED, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR OTHER INTANGIBLE LOSS; AND (b) ANY LOSS OR DAMAGE WHICH MAY BE INCURRED BY YOU, INCLUDING BUT NOT LIMITED TO LOSS OR DAMAGE AS A RESULT OF: (i) ANY RELIANCE PLACED BY YOU ON THE COMPLETENESS, ACCURACY OR EXISTENCE OF ANY ADVERTISING, OR AS A RESULT OF ANY RELATIONSHIP OR TRANSACTION BETWEEN YOU AND ANY ADVERTISER OR SPONSOR WHOSE ADVERTISING APPEARS ON THE SITE; (ii) ANY CHANGES WHICH SINGLEKEY MAY MAKE TO THE SITE, OR FOR ANY PERMANENT OR TEMPORARY CESSATION IN THE PROVISION OF THE SITE (OR ANY FEATURES WITHIN THE SITE); (iii) THE DELETION OF, CORRUPTION OF, OR FAILURE TO STORE, ANY USER CONTENT AND OTHER COMMUNICATIONS DATA MAINTAINED OR TRANSMITTED BY OR THROUGH YOUR USE OF THE SITE; (iv) YOUR FAILURE TO PROVIDE SINGLEKEY WITH ACCURATE ACCOUNT INFORMATION; (iv) YOUR FAILURE TO KEEP YOUR PASSWORD OR ACCOUNT DETAILS SECURE AND CONFIDENTIAL. THE LIMITATIONS ON SINGLEKEY’S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT SINGLEKEY HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING. 16. DisclaimersSingleKey informs Users of the following disclaimers: Users recognise that SingleKey receives information included in the Reports from independent third parties that are outside of the control of SingleKey. SingleKey is not responsible for the contents incorporated within the Report whether correct or incorrect. Should discrepancies arise, Users have the right to raise a dispute through the Third-Party Agency themselves. Users agree to give up the right to raise such a dispute with SingleKey and thus hold SingleKey harmless and not liable for such incorrect information. The Report should not be the sole basis for any decision by any User. Users should consider other factors that a reasonable decision-maker in a similar situation would take into account. It is recommended that Users not assume a result or finding based solely on a Report. SingleKey does not represent that the Report is identical or similar to any other credit score, rating model or evaluation tool. The credit information contained in the credit report aspect of the SingleKey Credit and Background Check Report is a reflection of the latest data available to Third Party credit reporting agencies. Therefore, certain transactions or recent charges made that may affect the relevant credit score may not be made immediately available because a credit score is subject to change. Criminal record aspect of our Report is data provided by a Third-Party reporting agency and may not be available for all applicants or at all times for various reasons, including reasons beyond our control (ie: User input error). We are not a government agency and do not control or verify the contents of criminal record reports or motor vehicle reports, including reports obtained through the Service. We are not responsible for the contents of any criminal record report or motor vehicle report, whether correct or incorrect. Thus, you agree to hold SingleKey harmless for any harm arising or that may arise from your reliance on a Report. SingleKey does not warrant that their services will be carried out without interruption or errors. If a Report contains incorrect scores, SingleKey’s sole duty to the Landlord in such cases will be to reproduce a new report or, should the error be unresolvable, issue a partial or full refund for the Report (at the discretion of SingleKey). SingleKey is not responsible under any circumstances for carrying out any vetting process or other form of check on a Landlord. SingleKey is not responsible for any transaction between Tenant and Landlord or any unfavourable outcome that may arise. SingleKey does not make any representations, warranties or guarantees other than those expressly set out in these Terms and Conditions. SingleKey is not to be held responsible for the fulfillment of the terms and conditions of the Rental Guarantee Program. SingleKey is not responsible for any loss or damage caused, as a result of the failure of a score used to accurately predict the potential worthiness of an individual. 17. TerminationWe may terminate your use of the Site and/or access to the Contents, features, functionality, products and services made available in connection therewith, at any time and for any reason, with or without cause, without prior notice to you and without any liability or further obligation of any kind whatsoever to you or any other party. If you want to terminate your account with SingleKey, you may do so by closing your account, where SingleKey has made this option available to you. SingleKey may at any time, terminate your use of the Site if: (a) you have breached any provision of these Terms of Use (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of the Terms of Use); (b) SingleKey is required to do so by law (for example, where the provision of the Site to you is, or becomes, unlawful); (c) the Third-Party Partner with whom or through whom SingleKey offered the services to you has terminated its relationship with SingleKey or ceased to offer the services to you; (d) SingleKey is transitioning to no longer providing the Site to users in the country in which you are resident or from which you use the Site; or(e) the provision of the Site to you by SingleKey is, in SingleKey’s opinion, no longer commercially viable. When these Terms of Use come to an end, all of the legal rights, obligations and liabilities that you and SingleKey have benefited from, been subject to (or which have accrued over time while the Terms of Use have been in force) or which are expressed to continue indefinitely, shall be unaffected by such termination. 18. IndemnificationYou agree to indemnify, defend, and hold harmless SingleKey and its successors and assigns, and any of their respective officers, directors, employees, Users, agents, representatives, licensors, advertisers, and suppliers from any liability, loss, claim, and expense (including reasonable legal fees) related to (a) your violation of these Terms of Use; (b) your use of the Site; (c) SingleKey acting in accordance of a Landlord User’s instructions; (d) non-payment of rent by a Tenant User; (e) non-payment or delay of payment by Payor for any reason whatsoever; and (f) any breach of representations, warranties, or covenants herein by User. This provision shall survive the termination of (a) User’s use of the Site or User’s account; or (b)  the termination of User’s relationship with SingleKey.  We reserve the right to assume, at our sole expense, the exclusive defense and control of any such claim or action and all negotiations for settlement, or compromise, and you agree to fully cooperate with us in the defense of any such claim, action, settlement or compromise negotiations, as we may request.  19. General These Terms of Use, together with any Additional Terms, the Privacy Statement and the Copyright Statement constitute the entire agreement between you and SingleKey relating to your use and our provision of the Site.  You agree that SingleKey may provide you with notices, including those regarding changes to these Terms of Use, by email, regular mail, or postings on the Site. You agree that if SingleKey does not exercise or enforce any legal right or remedy which is contained in these Terms of Use (or which SingleKey has the benefit of under any applicable law), this will not be taken to be a formal waiver of SingleKey’s rights and that those rights or remedies will still be available to SingleKey. If any provision of these Terms of Use is held to be illegal, invalid or unenforceable, this will not affect any other provision of these Terms of Use and the agreement between you and us will be deemed amended to the extent necessary to make it legal, valid, and enforceable.  The laws of the Province of Ontario and the federal laws applicable therein shall govern these Terms of Use in all respects, without giving effect to conflicts of laws principles. 20. Obtaining SINGLEKEY's ConsentTo request the consent of SingleKey for any of the actions for which such consent is required under these Terms of Use, please send an e-mail to info@SingleKey.ca. SingleKey reserves the right to refuse any such requests in its sole discretion. --- ### Privacy Policy [Privacy Policy](https://www.singlekey.com/en-ca/privacy-policy/) Date: February 27, 2023 Author: SingleKey Content: Privacy Policy Published on Oct 18, 2021 | Updated on Jun 23, 2022 Protecting your private information is our priority. This Statement of Privacy applies to SingleKey’s Website https://www.singlekey.com (“Website” herein) and governs data collection and usage. For this Privacy Policy, unless otherwise noted, all references to SingleKey include https://www.singlekey.com. Also, for this policy, the terms “we”, “us”, “our” refer to SingleKey and the Website. The terms “User”, “you”, “your”, refer to the individual visiting the Website and can include the Landlord and Applicant. The term “Landlord” specifically addresses the individual who visits the SingleKey Website to place an order for a Report. The term “Report” relates to the report generated by Equifax Canada with respect to a Tenant and shared to the Landlord via the SingleKey platform, provided the Landlord has obtained written consent from the Tenant to receive this Report and the Personal Information therein. The term “Tenant” or “Applicant” refers to the party whose Personal Information is collected to produce a Report. By using the SingleKey website, you consent to the data practices described in this statement. What Information Do We Collect? SingleKey collects “Personal Information” from applicants who visit the SingleKey Website. “Personal Information” means any data or personal information that can identify, be related to, or describe any individual User directly or indirectly. SingleKey also collects “Ambiguous Information” This is defined as data that is not connected to or cannot identify an individual but is still collected from Users. Our service requires us to collect, store, request, transfer and share “Personal Information” about Users who visit the Website and request a Report. SingleKey utilises third party payment services to process payments for SingleKey Services (included but not limited to Rent Collection, Credit Report and Rent Guarantee Program). SingleKey does not store payment information from Users directly on SingleKey servers. Payment information is stored on third party sites. What Information does the User provide to SingleKey? To purchase a Report from SingleKey’s website, we require the User to submit certain pieces of Personal Information to complete the purchase. This includes the submission of the Applicant’s date of birth, Social Security Number (if US jurisdiction is engaged), driver’s license, current address of residence, first name, last name, email address, phone number and billing and payment information. The Applicant will have the option to fill out a standard online rental application form to provide additional information if he/she so wishes. The submission of an Applicant’s SIN information is optional (the first six digits of your SIN/SSN will be redacted). The Landlord would need to provide their full name, phone number, driver’s license, address of property under management, and number of properties under management. By providing this information to SingleKey, the Website, or any member of staff, you are giving express consent for us to use this information as needed. Private information is collected and distributed subject to applicable privacy and other legislation in Canada. SingleKey may also collect anonymous demographic information, which is not unique to you, such as your age and gender. We may gather additional personal or non-personal information in the future. SingleKey uses third parties such as banks and credit reporting agencies to gather your data from financial institutions. By using our service, you grant SingleKey and the third parties associated with it, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. What Information does SingleKey Provide to the User? SingleKey provides the Report to the User. The Report includes data provided by Equifax Canada (or other “Third-Party Reporting Agencies”) with respect to the Applicant, together with any other information the Applicant may provide on a voluntary basis. The information includes but is not limited to the following: Applicant’s credit history, credit reports, financial transactions, criminal record reports, motor vehicle record, social and behavioural profiles, government agencies, police agencies, news publications, public court databases, social media links, verification of your previous residence, employment, and the education of the Applicant. This information is only shared with the User if consent is provided by the Applicant for SingleKey to obtain this information from the relevant Third-Party Reporting Agency and subsequently disclose the same to the User. What Information is Automatically Collected? While using the Website, SingleKey will automatically gather information necessary for the function and operation of our services such as information about your computer hardware and software. This information can include but is not limited to a User’s address, browser type, domain names, access times and referring website addresses. This information is used for the operation of the service, to maintain quality of the service, and to provide general statistics regarding use of the SingleKey website. SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. How do we use your information? SingleKey collects Personal Information from Users inputting this information into our Website to purchase a Report. SingleKey collects and uses your personal information to operate the Website(s) and deliver the services at your request. SingleKey reserves the right to use Personal Information to inform Users of other products or services available from SingleKey and its affiliates. SingleKey may also contact you through contact details that you have provided to conduct research about your opinion of current services or of potential new services that may be offered. SingleKey may keep track of the pages of the Website our Users visit within SingleKey, to determine what SingleKey services are the most popular. This data is used to deliver customized content and advertising within SingleKey to customers whose behaviour indicates that they are interested in a particular subject area.In addition, SingleKey may use your Personal Information for a variety of purposes, including:to manage, administer, collect or otherwise enforce SingleKey Accounts;to send product updates or warranty information; to respond to customer service requests; to send you newsletters and/or marketing communications;to respond to your questions and concerns;to conduct research and analysis, including statistical analysis;to verify the identity of both Landlords and Tenants using our Services; to communicate with Landlords, Tenants and relevant third parties; to obtain, review and analyze Consumer Report Information;to disclose Consumer Report Information (obtained from Third-Party Reporting Agencies) to Landlords, where consent has been obtained from the Tenant;to process payment for Services;to investigate and resolve inaccuracies in the information we have obtained;to provide, maintain, and improve the Service and the Website, including the user’s SingleKey account;to monitor, review and improve customer service and internal business processes;to audit or investigate the use of our products and Services, and to detect, investigate and prevent fraud or other illegal activities; to track and analyze trends and usage of the Services and the Website;to offer and provide SingleKey product and services; andto display content based upon your interests;You may refuse to provide us with your personal information; however, some personal information is necessary in order to provide certain Services. Accordingly, if you refuse to provide us with required personal information, we may not be able to provide you with the Services. Our website might include links to third-party websites as well as content and applications hosted and served by third parties. When clicking on those links, these third-parties may collect your personal information. If you follow a link to a third-party website, please refer to the third-party’s privacy statement for information on the type of personal information it collects, and how it uses or discloses it and for information on its privacy practices. How do we share your information? We share your personal information for the following purposes:to provide screening services for landlords and other related services to our customers;to manage, administer, collect or otherwise enforce SingleKey Accounts;to our suppliers, agents, or other organizations or individuals contracted to SingleKey to perform services or functions on our behalf where they require information to assist us in the provision of the Service and the Website and/or to create, offer or improve our products and services to you (such information is limited to name, rental unit address and contact information);payment processing by our third-party payment processors;to investigate or to assist in the investigation of: (a) contravention of a law and/or fraudulent activities; or (b) violations of this Privacy Policy or our Terms of Use; andif SingleKey is involved in a merger, acquisition, or sale of all or a portion of its assets, we may disclose and/or transfer personal information to our successor or assign who may collect, use and disclose the personal information for substantially the same purposes as described in this Privacy Policy.Your provision of Personal Information to SingleKey means that you agree and consent that we may collect, use and disclose your Personal Information in accordance with this Privacy Policy. If you do not agree, you are requested not to provide any Personal Information to SingleKey. You are free to refuse or withdraw your consent at any time. We may not be able to offer you any SingleKey products, services or related information if you choose not to provide us with any required Personal Information. In addition to your consent when submitting information, we may also, from time to time, collect more specific, written consents or authorizations. There are circumstances where the use and/or disclosure of Personal Information may be justified or permitted or where SingleKey is obliged to disclose information without consent, including but not limited to the following circumstances:Where required by law or by order of a tribunal, such as to comply with a subpoena, or a similar legal or regulatory process or request;Where SingleKey believes that disclosure is necessary to protect the rights, privacy, safety or property of SingleKey, our users or others;Where it is necessary to establish or collect fees;Where it is necessary to permit SingleKey to pursue available remedies or limit any damages that SingleKey may sustain; orWhere the information is public.Where obliged or permitted to disclose information without consent, SingleyKey will not disclose more information than is required. Opt-In / Opt Out If you wish to opt-out of having your personal information shared by SingleKey to third-party corporate entities and vendors, please send us an email at info@singlekey.com.We respect your privacy and give you an opportunity to opt-out of receiving announcements of certain information. Users may opt-out of receiving any or all communications from SingleKey by sending us an email at info@singlekey.com. How do we protect your Personal Information? SingleKey secures your personal information from unauthorized access, use or disclosure. When personal information (such as payment information) is transmitted to other websites, it is protected through the use of encryption, such as the Secure Sockets Layer (SSL) protocol. How long do we retain the information we collect? SingleKey retains the Personal Information and ambiguous information provided through the Website for 90 days before it is removed. Landlords are given access to Reports they order for 90 days before the Reports are deleted from their SingleKey Account. SingleKey does keep a record of the Reports ordered in our database should we ever need to re-access these Reports. What Information does SingleKey collect from Third Parties? SingleKey collects Personal and Ambiguous Information from several third-party sources. How SingleKey collects, distributes and uses this information is determined by these terms outlined within this document as well as the privacy terms listed on the third-party source’s website. Third-party providers have the right to send their cookies and pixel tags to you and may collect information and use it in a way inconsistent with SingleKey’s Policy but may be consistent with their own. For this reason, all Users should review these third-party privacy policies to understand how your information may be collected, used and disclosed by these third parties. Credit Reporting and Third-Party AgencySingleKey utilises other Third-Party reporting agencies that have access to and supply us with all elements of our Report. Specifically, we rely on credit and personal information (“Consumer Report Information”) provided by Equifax (https://www.equifax.com/privacy/ ) to generate a Report. Thus, given that Equifax generates all credit information or personal information pertaining to Users, it is important for Users to read and understand the third-party credit reporting agency privacy terms to which their information is subject.Google AnalyticsTo better understand Users who visit our Website, SingleKey deploys cookies provided by Google Analytics (https://support.google.com/analytics) to assist with this aspect of our service. These cookies collect User IP addresses as well as their usage data, including but not limited to the length of time a User spends on a page, and what pages a User visits. From the information that is used, this service allows SingleKey compiles data about website traffic and a User’s website interaction. The main purpose of Google Analytics is to allow SingleKey to offer the best possible experiences. Cookie and website data Cookies, web beacons, pixel tags or other technologies may be used by SingleKey through the Website. Cookies can help site providers understand how people use a site, remembering a user’s login details, and storing site preferences.SingleKey may use cookies for one or more of the following purposes:Strictly necessary cookies are cookies that are necessary for the operation of the Website.Functionality cookies are cookies used to recognize Users when they return to our websites and allows SingleKey to customize a Users online experience (for example, by remembering your choice of language or region).Analytical cookies help SingleKey gather information about the areas visited on the websites in order to evaluate and improve the user experience and the websites.Advertising cookies allow SingleKey to display advertisements relevant to your interests based on your activity on the Website.You can choose not to accept cookies by adjusting your browser settings. Should you choose not to accept cookies, some areas of the websites or our services may not function properly or optimally. If you would like to learn more about how to set your cookie options, please refer to your browser’s documentation or online help for instructions. Children under eighteen SingleKey does not knowingly collect personally identifiable information from children under the age of eighteen. If you are under the age of eighteen, you must ask your parent or guardian for permission to use this website. Changes to this Statement SingleKey will occasionally update this Statement of Privacy to reflect company and customer feedback. SingleKey encourages you to periodically review this Statement to be informed of how SingleKey is protecting your information. Contact information SingleKey welcomes your questions or comments regarding this Statement of Privacy. If you believe that SingleKey has not adhered to this Statement, please contact SingleKey.​ For all other questions, contact our team 1-877-978-1404 info@singlekey.com Privacy Policy Published on Oct 18, 2021 | Updated on Jun 23, 2022 Protecting your private information is our priority. This Statement of Privacy applies to SingleKey’s Website https://www.singlekey.com (“Website” herein) and governs data collection and usage. For this Privacy Policy, unless otherwise noted, all references to SingleKey include https://www.singlekey.com. Also, for this policy, the terms “we”, “us”, “our” refer to SingleKey and the Website. The terms “User”, “you”, “your”, refer to the individual visiting the Website and can include the Landlord and Applicant. The term “Landlord” specifically addresses the individual who visits the SingleKey Website to place an order for a Report. The term “Report” relates to the report generated by Equifax Canada with respect to a Tenant and shared to the Landlord via the SingleKey platform, provided the Landlord has obtained written consent from the Tenant to receive this Report and the Personal Information therein. The term “Tenant” or “Applicant” refers to the party whose Personal Information is collected to produce a Report. By using the SingleKey website, you consent to the data practices described in this statement.What Information Do We Collect?SingleKey collects “Personal Information” from applicants who visit the SingleKey Website. “Personal Information” means any data or personal information that can identify, be related to, or describe any individual User directly or indirectly. SingleKey also collects “Ambiguous Information” This is defined as data that is not connected to or cannot identify an individual but is still collected from Users. Our service (“Service”) requires us to collect, store, request, transfer and share “Personal Information” about Users who visit the Website and request a Report.SingleKey utilises third party payment services to process payments for SingleKey Services (included but not limited to Rent Collection, Report and Rent Guarantee Program). SingleKey does not store payment information from Users directly on SingleKey servers. Payment information is stored on third party sites. What Information does the User provide to SingleKey?To purchase a Report from SingleKey’s website, we require the User to submit certain pieces of Personal Information to complete the purchase. This includes the submission of the Applicant’s date of birth, Social Security Number (if US jurisdiction is engaged), driver’s license, current address of residence, first name, last name, email address, phone number and billing and payment information. The Applicant will have the option to fill out a standard online rental application form to provide additional information if he/she so wishes. The submission of an Applicant’s SIN information is optional (the first six digits of your SIN/SSN will be redacted). The Landlord would need to provide their full name, phone number, driver’s license, address of property under management, and number of properties under management. By providing this information to SingleKey, the Website, or any member of staff, you are giving express consent for us to use this information as needed. Private information is collected and distributed subject to applicable privacy and other legislation in Canada. SingleKey may also collect anonymous demographic information, which is not unique to you, such as your age and gender. We may gather additional personal or non-personal information in the future. SingleKey uses third parties such as banks and credit reporting agencies to gather your data from financial institutions. By using our service, you grant SingleKey and the third parties associated with it, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. What Information does SingleKey Provide to the User?SingleKey provides the Report to the User. The Report includes data provided by Equifax Canada (or other “Third-Party Reporting Agencies”) with respect to the Applicant, together with any other information the Applicant may provide on a voluntary basis. The information includes but is not limited to the following: Applicant’s credit history, credit reports, financial transactions, criminal record reports, motor vehicle record, social and behavioural profiles, government agencies, police agencies, news publications, public court databases, social media links, verification of your previous residence, employment, and the education of the Applicant. This information is only shared with the User if consent is provided by the Applicant for SingleKey to obtain this information from the relevant Third-Party Reporting Agency and subsequently disclose the same to the User. What Information is Automatically Collected?While using the Website, SingleKey will automatically gather information necessary for the function and operation of our services such as information about your computer hardware and software. This information can include but is not limited to a User’s address, browser type, domain names, access times and referring website addresses. This information is used for the operation of the service, to maintain quality of the service, and to provide general statistics regarding use of the SingleKey website. SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. How do we use your information?SingleKey collects Personal Information from Users inputting this information into our Website to purchase a Report. SingleKey collects and uses your personal information to operate the Website(s) and deliver the services at your request. SingleKey reserves the right to use Personal Information to inform Users of other products or services available from SingleKey and its affiliates. SingleKey may also contact you through contact details that you have provided to conduct research about your opinion of current services or of potential new services that may be offered. SingleKey may keep track of the pages of the Website our Users visit within SingleKey, to determine what SingleKey services are the most popular. This data is used to deliver customized content and advertising within SingleKey to customers whose behaviour indicates that they are interested in a particular subject area. In addition, SingleKey may use your Personal Information for a variety of purposes, including:to manage, administer, collect or otherwise enforce SingleKey Accounts;to send product updates or warranty information; to respond to customer service requests; to send you newsletters and/or marketing communications;to respond to your questions and concerns;to conduct research and analysis, including statistical analysis;to verify the identity of both Landlords and Tenants using our Services; to communicate with Landlords, Tenants and relevant third parties; to obtain, review and analyze Consumer Report Information;to disclose Consumer Report Information (obtained from Third-Party Reporting Agencies) to Landlords, where consent has been obtained from the Tenant;to process payment for Services;to investigate and resolve inaccuracies in the information we have obtained;to provide, maintain, and improve the Service and the Website, including the user’s SingleKey account;to monitor, review and improve customer service and internal business processes;to audit or investigate the use of our products and Services, and to detect, investigate and prevent fraud or other illegal activities; to track and analyze trends and usage of the Services and the Website;to offer and provide SingleKey product and services; andto display content based upon your interests;You may refuse to provide us with your personal information; however, some personal information is necessary in order to provide certain Services. Accordingly, if you refuse to provide us with required personal information, we may not be able to provide you with the Services. Our website might include links to third-party websites as well as content and applications hosted and served by third parties. When clicking on those links, these third-parties may collect your personal information. If you follow a link to a third-party website, please refer to the third-party’s privacy statement for information on the type of personal information it collects, and how it uses or discloses it and for information on its privacy practices.How do we share your information?We share your personal information for the following purposes:to provide screening services for landlords and other related services to our customers;to manage, administer, collect or otherwise enforce SingleKey Accounts;to our suppliers, agents, or other organizations or individuals contracted to SingleKey to perform services or functions on our behalf where they require information to assist us in the provision of the Service and the Website and/or to create, offer or improve our products and services to you (such information is limited to name, rental unit address and contact information);payment processing by our third-party payment processors;to investigate or to assist in the investigation of: (a) contravention of a law and/or fraudulent activities; or (b) violations of this Privacy Policy or our Terms of Use; andif SingleKey is involved in a merger, acquisition, or sale of all or a portion of its assets, we may disclose and/or transfer personal information to our successor or assign who may collect, use and disclose the personal information for substantially the same purposes as described in this Privacy Policy.Your provision of Personal Information to SingleKey means that you agree and consent that we may collect, use and disclose your Personal Information in accordance with this Privacy Policy. If you do not agree, you are requested not to provide any Personal Information to SingleKey. You are free to refuse or withdraw your consent at any time. We may not be able to offer you any SingleKey products, services or related information if you choose not to provide us with any required Personal Information. In addition to your consent when submitting information, we may also, from time to time, collect more specific, written consents or authorizations. There are circumstances where the use and/or disclosure of Personal Information may be justified or permitted or where SingleKey is obliged to disclose information without consent, including but not limited to the following circumstances:Where required by law or by order of a tribunal, such as to comply with a subpoena, or a similar legal or regulatory process or request;Where SingleKey believes that disclosure is necessary to protect the rights, privacy, safety or property of SingleKey, our users or others;Where it is necessary to establish or collect fees;Where it is necessary to permit SingleKey to pursue available remedies or limit any damages that SingleKey may sustain; orWhere the information is public.Where obliged or permitted to disclose information without consent, SingleyKey will not disclose more information than is required.Opt-In / Opt OutIf you wish to opt-out of having your personal information shared by SingleKey to third-party corporate entities and vendors, please send us an email at info@singlekey.com.We respect your privacy and give you an opportunity to opt-out of receiving announcements of certain information. Users may opt-out of receiving any or all communications from SingleKey by sending us an email at info@singlekey.com.How do we protect your Personal Information?SingleKey secures your personal information from unauthorized access, use or disclosure. When personal information (such as payment information) is transmitted to other websites, it is protected through the use of encryption, such as the Secure Sockets Layer (SSL) protocol.How long do we retain the information we collect?SingleKey retains the Personal Information and ambiguous information provided through the Website for 90 days before it is removed. Landlords are given access to Reports they order for 90 days before the Reports are deleted from their SingleKey Account. SingleKey does keep a record of the Reports ordered in our database should we ever need to re-access these Reports.What Information does SingleKey collect from Third Parties?SingleKey collects Personal and Ambiguous Information from several third-party sources. How SingleKey collects, distributes and uses this information is determined by these terms outlined within this document as well as the privacy terms listed on the third-party source’s website. Third-party providers have the right to send their cookies and pixel tags to you and may collect information and use it in a way inconsistent with SingleKey’s Policy but may be consistent with their own. For this reason, all Users should review these third-party privacy policies to understand how your information may be collected, used and disclosed by these third parties.Credit Reporting and Third-Party AgencySingleKey utilises other Third-Party reporting agencies that have access to and supply us with all elements of our Report. Specifically, we rely on credit and personal information (“Consumer Report Information”) provided by Equifax (https://www.equifax.com/privacy/ ) to generate a Report. Thus, given that Equifax generates all credit information or personal information pertaining to Users, it is important for Users to read and understand the third-party credit reporting agency privacy terms to which their information is subject.Google AnalyticsTo better understand Users who visit our Website, SingleKey deploys cookies provided by Google Analytics (https://support.google.com/analytics) to assist with this aspect of our service. These cookies collect User IP addresses as well as their usage data, including but not limited to the length of time a User spends on a page, and what pages a User visits. From the information that is used, this service allows SingleKey compiles data about website traffic and a User’s website interaction. The main purpose of Google Analytics is to allow SingleKey to offer the best possible experiences.Cookie and Website DataCookies, web beacons, pixel tags or other technologies may be used by SingleKey through the Website. Cookies can help site providers understand how people use a site, remembering a user’s login details, and storing site preferences.SingleKey may use cookies for one or more of the following purposes:Strictly necessary cookies are cookies that are necessary for the operation of the Website.Functionality cookies are cookies used to recognize Users when they return to our websites and allows SingleKey to customize a Users online experience (for example, by remembering your choice of language or region).Analytical cookies help SingleKey gather information about the areas visited on the websites in order to evaluate and improve the user experience and the websites.Advertising cookies allow SingleKey to display advertisements relevant to your interests based on your activity on the Website.You can choose not to accept cookies by adjusting your browser settings. Should you choose not to accept cookies, some areas of the websites or our services may not function properly or optimally. If you would like to learn more about how to set your cookie options, please refer to your browser’s documentation or online help for instructions.Children Under EighteenSingleKey does not knowingly collect personally identifiable information from children under the age of eighteen. If you are under the age of eighteen, you must ask your parent or guardian for permission to use this website.Changes to this StatementSingleKey will occasionally update this Statement of Privacy to reflect company and customer feedback. SingleKey encourages you to periodically review this Statement to be informed of how SingleKey is protecting your information.Contact Information​SingleKey welcomes your questions or comments regarding this Statement of Privacy. If you believe that SingleKey has not adhered to this Statement, please contact SingleKey.​ For all other questions, contact our team 1-877-978-1404 info@singlekey.com --- ### Careers [Careers](https://www.singlekey.com/en-ca/careers/) Date: February 12, 2023 Author: SingleKey Content: Careers at SingleKey Be part of something good. We’re making renting easier and safer for everyone. Join our growing team at SingleKey and help us build the solutions that people need. Apply now Our Culture When you grow, we grow We’re a compact, focused, and tight-knit team that encourages happy work and healthy growth. Take perspective We value relationships and never underestimate empathy. Ask tough questions We share our concerns and solve problems together. Say it how it is We’re honest about our feelings and always encourage open communications. Play as a team We collaborate across every department to find answers and make magic. Make smart mistakes We take risks and learn from our mistakes to keep doing better. Take charge We own our tasks and take responsibility when needed. Our Benefits Find your balance Good work happens when you feel like yourself. SingleKey offers a range of benefits so you can fulfill your career goals and take time for yourself. Lively office in the heart of Downtown Toronto Flexible hours Hybrid/Remote work Health & dental benefits Apply to SingleKey today Browse our current openings Apply now Apply to SingleKey today Browse our current openings --- ### Verified Tenant Profile [Verified Tenant Profile](https://www.singlekey.com/en-ca/tenants/tenant-profile/) Date: February 12, 2023 Author: SingleKey Content: SingleKey Verified Tenant Profile Power-up your rental search Simplify renting and protect your credit with a verified tenant profile and background check trusted by homeowners everywhere. Bank-grade security: No more emailing or texting personal information to strangers. Verified renter profile: Apply to multiple rentals with a single application trusted by homeowners everywhere. Protect your credit: One Tenant Report can be shared with multiple landlords so you can avoid extra hits on your credit. Approved by homeowners: Get extra credibility from SingleKey, a recognized name in rental protection solutions. Get started Bank-grade security No more emailing or texting personal information to strangers. Protect your credit One Tenant Report can be shared with multiple landlords so you can avoid extra hits on your credit. Approved by homeowners Get extra credibility from SingleKey, a recognized name in rental protection solutions. Verified renter profile Apply to multiple rentals with a single application trusted by homeowners everywhere. SingleKey For Tenants Get picked first with Verified Tenant Profile Share your SingleKey Verified Tenant Profile with as many homeowners as you’d like. Gone are the days of manually filling out multiple applications, having multiple pulls of your credit file, or sending your sensitive personal information via insecure email. Unlimited shares Create a digital Verified Tenant Profile that can be instantly shared with any homeowner. Protect your credit Stop hurting your credit every time a landlord runs a check. With a Verified Tenant Profile, you just need one credit report to securely share with multiple landlords. Trusted by homeowners Boost your tenant credibility with a secure, tamper-proof credit report that homeowners know they can trust. Get started What You Get The credit report landlords trust Stand out from other applicants with the credit and background check homeowners prefer. Plus, it’s shareable with multiple applications so you don’t have to hurt your credit score every time you apply for a place. Credit report by Equifax Every Tenant Report includes a full credit report powered by Equifax. This includes the credit score and a full credit report—one of the best indicators of your financial status and payment history. Social media check/scan Show homeowners who you are with a social media search. SingleKey will only share information published on public social media accounts. Public document scan Give homeowners complete reassurance. We look through over 200,000 databases from 240+ countries to automatically collect past employment, past addresses, public biographies, criminal records, court decisions, negative press, and more. Income & employment verification In addition to employment info from Equifax, you’ll be able to share employment references and upload proof of income (e.g. recent pay stubs) when completing our online rental application. No downloads needed Get set-up in no time. SingleKey is run on web browsers without the need for additional downloads or software. Download sample report The SingleKey Difference A golden stamp of approval Get backed by a trusted name in rental protection. Renters with SingleKey’s Verified Tenant Profile give homeowners a good reason to trust them with their property. Trusted by homeowners Collect rent the easy way. Get payments deposited automatically into your bank account every month. Access your account anywhere Share your digital Verified Tenant Profile and Tenant Report through a secure link. Homeowners will receive reports directly from SingleKey for assured credibility. The most comprehensive data Send an application that gives them utmost confidence. Every Tenant Report includes an Equifax credit check, background check, public social media scan, court record search, and income and employment verification. One report is all it takes Protect your credit score against multiple credit checks every time you apply for a rental. Just run your Tenant Report once, then share it with as many homeowners as you need. Get started Getting Started Sign up and share instantly Run your credit report Complete your online rental application and run your credit report. Upload supporting documents (Optional) Give your application extra credibility by uploading your ID and proof of income documents (e.g., paystubs, employment letters, etc). Share with any landlord Get a unique shareable URL to your Verified Tenant Profile and send it to as many landlords as you need. Get started Pricing Sign up for free. Pay per report. Create your Verified Tenant Profile, free of charge. Once you’re in, you can order a credit report whenever you need. $29.99 One-time fee Includes: Equifax credit check Background check Social media scan Court record search Income & employment verification Unlimited Sharing Equifax credit check Background check Social media scan Court record search Income & employment verification Get started Download a sample report Apply for Tenant Passport Get SingleKey as your guarantor, too! Show homeowners you’re their safest choice. Apply for our Tenant Passport and get SingleKey to back you as a guarantor they can trust. Guarantor service Property damage protection Rent guarantee Big deposits, covered Go to Tenant Passport The Reviews Are In Join thousands of happy tenants and get approved today "I tend to be wary of most online credit reports, but a family member suggested SingleKey to me as they’ve used it to screen tenants for their own rental. It was surprisingly simple to complete and I’ve gotten way more interest from landlords since using it." Adham H. SingleKey Universal Rental Application Customer "My credit history is a bit shaky, so it hurts even more every time a new landlord runs a credit check on me. The Universal Rental Application has been incredible. I ordered just one and have been sharing it with multiple landlords. They never question it and nobody’s asked to run another credit check on me since.” Justin L. SingleKey Universal Rental Application Customer "WAY better than any other free credit checks I’ve used. I’ve been able to use it for so many rental applications, the cost is insignificant. I beat out a bunch of other applicants for my new place, just because it made things faster and easier for my landlord (I asked her!).” Maddy G. SingleKey Universal Rental Application Customer “I loved that this report included a social media scan—something I haven’t seen in many other reports. I knew I could be a good tenant on paper, but sometimes it takes that personal touch to get competitive. Plus, if you don’t want to share your social media, you can just set your profile to private and it won’t show! It’s helped me in my search a lot.” Oneika Y. SingleKey Universal Rental Application Customer See all reviews Tenant Report FAQ In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. See all FAQ Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of Canada including Quebec. How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What info do you need from tenants? • Name, Address, Date of Birth, and SIN or Driver’s License, as well as consent to pull a credit reportDon’t have tenant info? No problem, you can invite tenants via email and we send them a form to collect their info and consent. Will this affect a tenant's credit score? The credit inquiry will appear on the applicant’s credit file, however it will not have a significant impact on their credit score, since this is not a credit application. What is included in the Background Check? The Background Check is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.See our full guide on how to read the Singlekey Tenant Credit and Background Check Report here Stand out from other applicants. Start sharing your Verified Tenant Profile and be the tenant they can’t ignore. Get started --- ### Tenant Guarantor [Tenant Guarantor](https://www.singlekey.com/en-ca/tenants/tenant-passport/) Date: February 12, 2023 Author: SingleKey Content: Tenant Passport by SingleKey Need a guarantor? We got you. You find the place, we’ll co-sign the lease. Get a Tenant Passport and show homeowners you’re a risk-free tenant in every way. Book a call Can you beat the odds in this rental market? Whether you’re a student, a newcomer, or just a renter waiting to get lucky, finding a lease is a time-consuming, headache-inducing task. But, with SingleKey’s Tenant Passport, tenants get a guarantor trusted by homeowners, so you can ensure you’ll always land the place you have your eye on. Students New to Canada Low credit or income Why Tenant Passport? Homeowners love our Tenant Passport Renting out property comes with risks, but homeowners always trust a tenant backed by SingleKey. Apply for a Tenant Passport today to get your lease co-signed by us, and show homeowners you’re a tenant they can count on. Guarantor service Found a place and want to make it yours? We’ll back you as your guarantor. Skip the deposit Renters with our Tenant Passport can avoid having to put down a 6- to 12-month required rent deposit. Stamp of approval Homeowners know and trust SingleKey to protect their properties. They’ll trust renters with our Tenant Passport, too. Rent Guarantee Now they can rent to you without risking their financial security. If they lose any rental income, SingleKey will cover the loss. Damage protection Landlords know they’re covered in case of any tenant-caused property damage while you’re living in the rental. Legal coverage In the unlikely event of a conflict, homeowners know they’ll get their legal fees covered by us. Book a call Getting Started Apply. Approve. Go. Fill out the basics Start your application by sharing some basic details with us, including your income and employment information. Get approved Our team will review your information along with a credit check to make sure you qualify for the Tenant Passport (don’t worry—your credit score won’t affect your approval status). Start renting Apply for the place you want with your Tenant Passport and stand out from the other applicants. Book a call How do I know if I qualify? Tenants are qualified for the Tenant Passport if they have: No bankruptcy, previous eviction, or significant collections on a credit report in the past 3 years At least one employed member in the household A Rent-to-Gross Household Income Ratio not exceeding 45% *Tenants will not be assessed based on their credit score Pricing Tiny fee. Big benefits. Get a trusted guarantor and strengthen your application for just a low percentage of your monthly rent. 8% of monthly rent, paid annually Includes: Lease co-signer/Guarantor Damage protection Rent guarantee Legal fee coverage Official Tenant Passport Certificate SingleKey Renter’s Profile Lease co-signer/Guarantor Damage protection Rent guarantee Legal fee coverage Official Tenant Passport Certificate SingleKey Renter’s Profile Book a call Add a credit report landlords trust Get extra credibility with the #1 credit report preferred by landlords. Our shareable report keeps your credit from taking multiple hits every time homeowners run a check. Go to Universal Rental Application The Reviews Are In Join thousands of happy tenants & get approved today "I had a lot of trouble getting picked by landlords because of my low credit as a student. A friend told me about the Tenant Passport and I got the lease on a gorgeous rental almost right away. I highly recommend it for all renters out there!" Hanna E. SingleKey Tenant Passport Customer "In my last place, I accidentally damaged the flooring but wasn’t able to cover the costs. My landlord was unhappy about it and things got awkward till I moved out. The Tenant Passport not only helped me secure my next rental, but now I feel great knowing I’m helping my new landlord cover costs if anything ever happens. Definitely worth having as a tenant." Jon B. SingleKey Tenant Passport Customer "The approval process is so simple for how much they’re covering. I didn’t have to share anything too personal, and the SingleKey support team was incredible at guiding me through it. I just moved into a new place and have SingleKey to thank for it!" Rahul C. SingleKey Tenant Passport Customer "So many of the landlords I applied with recognized SingleKey right away. They all appreciated me going the extra mile by getting a Tenant Passport. My current landlord and I have a very trusting relationship, and I’m sure my Tenant Passport has a lot to do with it." Maria Z. SingleKey Tenant Passport Customer See all reviews Have rental properties of your own? Tell your renters about the Tenant Passport and bring peace of mind to everyone. Share this page Frequently Asked Questions In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. See all FAQ What is included in the Rent Guarantee Program? The Rent Guarantee Program includes:Guaranteed Rental income for up to 12 months or $60,000 per leaseDamage protection from willful tenant damage up to $10,000 per leaseLegal Fees incurred during the eviction process covered up to $2,000Automatic Rent Collection via PAD2 FREE Tenant Credit & Background Checks What happens when tenants miss their rent payment? 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. What happens if the tenant causes damage or vandalizes my property? In the case of negligent or wilful property damage by the tenant, please notify us within the next business day and you will be reimbursed up to $10,000 of damages if the tenant refuses to pay. What documents do you need to start the Rent Guarantee? To start the Rent Guarantee we need the following documents:1. Credit Report for each tenant – we can help with this2. Proof of income in the form of recent Paystubs, T4, Bank statement or Employment Letter3. Valid signed lease agreementWe 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 What are the Tenant Eligibility Requirements? 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. Do you guarantee both existing and new tenants? 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 on time. Lock down your dream rental. Seal the deal on your next find. Get a Tenant Passport today. Book a call The guarantor you need for the place you want You find the home, we’ll be your guarantor. With SingleKey’s Tenant Guarantor backing you, you’ll get approved for the lease on the first try. Get started Book a call Helping over 100,000 tenants get approved for their new homes every year! Everyone deserves a fair chance in the rental market Whether you’re a student, a newcomer, or someone struggling to get approved, securing a lease is time-consuming, headache-inducing work. With SingleKey’s Tenant Guarantor, renters get a guarantor trusted by homeowners so you can ensure you’ll always land the place you have your eye on. Students New to Canada Low/no credit or income Why get the tenant guarantor? Stand out with the Tenant Guarantor Boost your rental application with Tenant Guarantor, backed by Canada’s most trusted tenant screening company. With SingleKey as your guarantor, we’ll call your landlord to make sure you get approved. Nationally trusted guarantor Landlords know and trust SingleKey to protect their properties. Skip the deposit Avoid having to pay a 6- to 12-month rent deposit to secure a new place with the Tenant Guarantor. Skip the deposit Avoid having to pay a 6- to 12-month rent deposit to secure a new place with the Tenant Guarantor. What’s Covered? Why landlords trust Tenant Guarantor Landlords are worried about tenant risks, like unpaid rent or property damage. With the Tenant Guarantor, we cover those risks so that they are comfortable approving you for the lease. Guaranteed rent Now landlords can rent to you without risking their financial security. If they lose any rental income, SingleKey will reimburse the loss. Damage protection Landlords know they’re protected in case of any tenant-caused property damage while you’re living in the rental. Legal coverage In the unlikely event of a conflict, landlords know they’ll get their legal fees reimbursed by us. Get started Book a call Hear from our growing community of happy tenants I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 We've had the unfortunate opportunity of using the service, but SingleKey came through and covered our loss. The demand process was efficient and payout came without many hurdles. The guarantee extends support to early lease termination, non-payment of rent, paralegal fees and unit damage. In these times (particularly in Ontario) it is nice to have some cushion to rely on if things go sideways with a tenant. Evan N. December 2023 I had a tenant who stopped paying rent after losing their job, but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took to evict the tenant. SingleKey managed the entire legal process for me, covering all my legal and court fees. If it weren’t for their support, I would have faced a $30,000 loss in rent and legal costs. I highly recommend this program to any small landlord. William L. November 2024 See all reviews how it works Apply. Get Approved. Move. Sign up and submit your application to get approved for the Rent Guarantee. Fill out the basics Fill out your details, run a credit report, and upload your proof of income documents. Get qualified Once you submit your application with the $200 refundable deposit, our team will review your information to make sure you qualify. Apply to rentals Apply to places with your Tenant Guarantor, and add SingleKey as a guarantor on your application to stand out. Get approved for a lease SingleKey will call your landlord to let them know you’re backed by the Tenant Guarantor to make sure that you get approved. Get approved How Do I Qualify for Tenant Guarantor? Qualifying for Tenant Guarantor is easy We believe everyone should get a chance to rent the home they deserve. That’s why most renters qualify for the Tenant Guarantor under our inclusive criteria. Here’s what we need: Provide your personal information. Show that you have sufficient income or savings to cover your rent and living expenses for the year. Upload proof of income, proof of savings, proof of enrollment (if you are a student), and your study or work permit (if applicable). pricing Avoid having to pay a huge deposit Get a trusted guarantor, strengthen your rental application, and secure your new place without a big upfront deposit. 
You only pay for Tenant Guarantor if you get approved! 1 month's rent Plus: $200 refundable deposit Get approved What's included: Lease guarantor Damage protection Rent guarantee Legal fee coverage Official Tenant Guarantor Certificate Guaranteed lease approval "Tenant Guarantor was a lifesaver. I was being asked to put down a massive 6-month deposit just to get the place I wanted. So I found SingleKey, paid a fee equal to one month's rent, and they got me approved right away. Highly recommend it." —Diane G., December 2024 FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is the Tenant Guarantor? How does the Tenant Guarantor help me get approved for a lease? If you’re struggling to find a place in today’s competitive rental market, the Tenant Guarantor can help you get approved faster because SingleKey will be your guarantor. That means SingleKey will be responsible to the landlord in case you don’t pay rent or damage the property. This makes landlords more comfortable approving your application, since you are regarded as a risk-free tenant.

With SingleKey, you no longer need to worry about hefty 6- to 12-month rent deposits, as it offers landlords added peace of mind by covering potential losses and property damage. So if SingleKey is guaranteeing the rent, then why should I pay my rent? You, as a tenant, are still responsible for paying your rent on time each month. To maintain your tenancy, it’s essential to meet your rental obligations. Failing to pay rent could result in legal action, including eviction, which can negatively impact your rental history.SingleKey provides financial protection and confidence to tenants and landlords, in case of missed rent payments, property damage, or legal disputes. How does the Tenant Passport work? What is the cost? Here’s how the enrolment process works:Tell us about yourself, and upload required documents (such as proof of income, work permits, study permit, etc) to apply for the Tenant Passport. If you are qualified for the Tenant Passport, pay the $200 application fee.Once we have collected all of your documents and you are fully approved for the Tenant Passport, we will call the landlord of the rental unit you are interested in and explain the details of the Tenant Passport to them. If you are not approved, you will be refunded for the application fee.Once you get approved and sign a lease on a unit, only then will you have to pay the remaining Tenant Passport fee to activate the Tenant Passport. The application fee will be deducted from your total. How do I know if I qualify for the Tenant Passport? Once you’ve submitted your application, a SingleKey team member will review the details and supporting documents provided. You will then receive an email notifying you if you have been approved for the Tenant Passport so that you can start applying for a lease.

In order to qualify for the Tenant Passport, you must meet the following criteria:Provide your personal informationShow that you have sufficient income or savings to cover your rent and living expenses for the yearUpload proof of income, proof of savings, proof of enrolment (if you are a student), and your study or work permit (if applicable) What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more. See our full guide on how to read the SingleKey Tenant Report here Can I still apply for the Tenant Passport if I am a student, new to Canada, or if I don’t have credit? Certainly! The Tenant Passport was designed with the aim of helping renters that are having trouble getting approved because they may be students, new to the country or are just getting started and don’t have a credit history. Just let us know about your situation and we will be able to help in most cases. Why do landlords trust SingleKey and the Tenant Passport program? SingleKey is the leading Tenant Screening and Rent Guarantee provider across the country and most landlords currently use SingleKey to process their rental applications.By enrolling in the Tenant Passport program, you increase your chances of getting approved by the landlord. When you have a Tenant Passport, SingleKey acts as your guarantor, assuring landlords that any unpaid rent or property damage will be covered. This reduced risk makes you a more attractive tenant and can speed up the rental application process. More questions? Contact us! Book a call here with our sales team. Please don’t hesitate to get in touch with any questions or concerns. Our friendly team is happy to assist. Read more on the Knowledge Base Read more --- ### Terms of Use [Terms of Use](https://www.singlekey.com/en-ca/terms-of-use/) Date: January 19, 2023 Author: SingleKey Content: --- ### About [About](https://www.singlekey.com/en-ca/about/) Date: January 18, 2023 Author: SingleKey Content: About Us Everyone deserves rental wellbeing. SingleKey is making renting easier and safer for everyone. Learn more about our company and our culture. Get in touch Join our team Our Mission Bringing trust, transparency, & accountability into the rental process. By building tools that mitigate the common risks of renting, we’re making renting easier, safer, and more transparent than ever. 120,000 Homeowners 500,000+ Tenants 6,500+ Real estate agents 650+ Enterprise property managers The Reviews Are In A family of rental solutions Anyone can rent risk-free with SingleKey. Choose a solution below to get started. For homeowners For professionals For tenants For homeowners Tenant Reports Comprehensive tenant screening, done in minutes. Rent Collection Easier rent payments with automated collection & more. Rent Guarantee The ultimate protection & financial backup for any rental property. For professionals For property managers Run Tenant Reports for 10+ properties and enjoy exclusive perks as part of our Partner Program. For realtors Protect your clients’ investment with guaranteed rental income, damage protection, and more. Plus, get perks from our Partner Program. For tenants Universal Rental Application Strengthen & speed up your applications with a digital profile trusted by homeowners. Tenant Passport Get SingleKey as your guarantor and improve your chances of securing the perfect rental. You've seen us in Join our team We’re looking for fresh thinkers who love to take on real-world challenges with passion and creativity. Explore our open roles and apply today. Work with us View All What Our Users Say Impacting communities, one rental at a time “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer See all reviews --- ### Rent Collection [Rent Collection](https://www.singlekey.com/en-ca/rent-collection/) Date: January 18, 2023 Author: SingleKey Content: Automate rent and get paid on time Forget cheques and late payments. Rent Collection sends monthly rent directly to your bank account, and gives tenants extra incentives to pay on time. Customize your payment schedule Set automatic reminders for tenants Incentivize on-time payments Get started Rent Collection by SingleKey Goodbye, late payments! Hello, Canada’s first rent collection tool! Get monthly rent payments deposited directly into your bank account—and help tenants build their credit just by paying on time. Automate monthly payments Get payments processed in just 3-5 business days. We’ll also send out automatic reminders to tenants and notify you when payments go through. Flexible scheduling Give your tenants extra time when they need it. You also get complete control with convenient ways to delay, skip, or cancel automated collections. Get paid on time By reporting payments to the credit bureau, you can help tenants build their credit history and incentivize them to pay rent on time. Fast direct-to-bank deposits Leave the cheques behind. Connect with your tenants to get payments sent to your bank account every month. Sign up now HOW IT WORKS Automate rent, just like that Set up automatic payments with your tenants in just a few clicks. Enter lease info Share some basic information about your lease, including unit address, rent amount, and payment schedule. Invite your tenant Share a link with your tenant to connect 
their bank account. Rent payments will 
be automatically withdrawn on the day 
you choose. Connect your bank Verify your identity and connect your bank account to set up automatic deposits. Get started Watch tutorial Getting Started Easy for you. Easy for tenants. Sign up and start collecting rent in just 3 easy steps. Watch our 3-minute tutorial to get started. Sign up Read the step-by-step guide key benefits Take the chore out of rent payments Rent Collection makes monthly rent payments easier, safer, and faster for everyone. I'M AN OWNER Never chase rent again No more cheques. Get automatic rent deposits sent to your bank account Trigger monthly reminders for tenants Improve tenant relationships by helping them build their credit Incentivize on-time payments and accountability with reports to the credit bureau I'M A TENANT Pay rent. Boost your credit. Get on-time payments automatically reported to the credit bureau Build your credit score with your largest monthly expense No more cheques with automated rent collection Perfect for students and newcomers looking to build their credit history SingleKey Rent Collection Automation meets flexibility Manage your rent collection Delay, skip, or cancel automated collections from your account at any time. Get real-time payment updates Receive notifications of successful or unsuccessful payments, late payments, and more. Report to the credit bureau Incentivize on-time payments from your tenants by reporting delinquencies to the credit bureau. Create an account Data Encryption & Privacy Dedicated to security Nothing’s more important to us than keeping your information secure. SingleKey works with cutting-edge partners to implement the latest security protocols. We never store personal information or bank login credentials Latest data encryption enabled (TLS 1.2). Compliant with the latest web security protocols. Partnered with Canada’s leading payment provider. pricing Tiny monthly fee. Pay it as you go. Get peace of mind for less than a cup of coffee. Our monthly fee covers necessary transaction costs and ensures exceptional customer service for you and your tenant. Rent Collection FREE / first 3 tenants Get started Have more than 10 tenants? Get a quote You get: Automated payment processing Direct bank-to-bank transfers Skip or delay payments Monthly payment reminders Schedule future payments Report payments to credit bureau Phone customer support See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is the cost of this service? The rent collection service is free for up to 3 concurrent transactions per month. If you have 3 leases, you will typically pay $0 per month.For up to 10 leases, we would charge $5 per transaction (10-3 = 7 * $5 = $35).For over 10 leases, we charge $3 per transaction.For more information on rent collection, please email us at info@singlekey.com or visit us on our chatbot, which is located on the bottom right-hand side of our website and we will be more than happy to assist you. 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 statusEnable delaying or skipping paymentsAllow cancellation of rent collection at the end of the leaseFor more information visit our setup guide. 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 4-5 business days for the rent transfer to be completed. Note that if the payment date falls on a weekend or a holiday, the rent collection process will begin on 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. Read more on the Knowledge Base Read more Rent Collection Automate rent & get paid on time Forget cheques and late payments. Rent Collection sends monthly rent directly to your bank account, and gives tenants extra incentives to pay on time. Customize your payment schedule Set automatic reminders for tenants Incentivize on-time payments Get started Rent Collection by SingleKey Goodbye, late payments! Hello, Canada’s first rent collection tool! Get monthly rent payments deposited directly into your bank account—and help tenants build their credit just by paying on time. Automate monthly payments Get payments processed in just 3-5 business days. We’ll also send out automatic reminders to tenants and notify you when payments go through. Get paid on time By reporting payments to the credit bureau, you can help tenants build their credit history and incentivize them to pay rent on time. Flexible scheduling Give your tenants extra time when they need it. You also get complete control with convenient ways to delay, skip, or cancel automated collections. Fast direct-to-bank deposits Leave the cheques and e-transfers behind. Connect with your tenants to get payments sent to your bank account every month. Sign up now How It Works Automate rent, just like that Set up automatic payments with your tenants in just a few clicks. Enter lease info Share some basic information about your lease, including unit address, rent amount, and payment schedule. Invite your tenant Share a link with your tenant to connect their bank account. Rent payments will be automatically withdrawn on the day you choose. Connect your bank Verify your identity and connect your bank account to set up automatic deposits. Get started https://youtu.be/oQt6S7aoKFM?si=QFEZ7OiZ6WDKw4n9 Getting Started Easy for you. Easy for tenants. Sign up and set up in just 3 steps. Watch our 3-minute demo. Sign up now Read the step-by-step guide Key Benefits Take the chore out of rent payments Rent Collection makes monthly rent payments easier, safer, and faster for everyone. I'm an owner I'm a tenant I'm an owner Never chase rent again No more cheques & e-transfers. Get automatic rent deposits sent to your bank account Trigger monthly reminders for tenants Improve tenant relationships by helping them build their credit Incentivize on-time payments and accountability with reports to the credit bureau I'm a tenant Pay rent. Boost your credit. Get on-time payments automatically reported to the credit bureau Build your credit score with your largest monthly expense No more cheques and e-transfers with automated rent collection Perfect for students and newcomers looking to build their credit history Using Rent Collection Automation meets flexibility Bye-bye, cheques & e-transfers! Homeowners love to use SingleKey’s tenant screening solutions and always prefer our Tenant Reports over other free reports. Manage your rent collection Delay, skip, or cancel automated collections from your account at any time. Get real-time payment updates Receive notifications of successful or unsuccessful payments, late payments, and more. Report to the credit bureau Incentivize on-time payments from your tenants by reporting delinquencies to the credit bureau. Create an account Data Encryption & Privacy Dedicated to security Nothing’s more important to us than keeping your information secure. SingleKey works with cutting-edge partners to implement the latest security protocols. We never store personal information or bank login credentials Latest data encryption enabled (TLS 1.2) Compliant with the latest web security protocols Partnered with Canada’s leading payment provider Pricing Tiny monthly fee. Pay it as you go. Get peace of mind for less than a cup of coffee. Our monthly fee covers necessary transaction costs and ensures exceptional customer service for you and your tenant. FREE / first 3 tenants Automated payment processing Direct bank-to-bank transfers Skip or delay payments Monthly payment reminders Schedule future payments Report payments to credit bureau Automated payment processing Direct bank-to-bank transfers Skip or delay payments Monthly payment reminders Schedule future payments Report payments to credit bureau Get started Have more than 10 tenants? Get a quote The Reviews Are In “I never need to worry about nonpayment of rent.” “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field.” a-a SingleKey Customer ““As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer See all reviews Rent Collection FAQ In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. See all FAQ What is the cost of this service? The rent collection service is free for up to 3 concurrent transactions per month. If you have 3 leases, you will typically pay $0 per month.For up to 10 leases, we would charge $5 per transaction (10-3 = 7 * $5 = $35).For over 10 leases, we charge $3 per transaction.For more information on rent collection, please email us at info@singlekey.com or visit us on our chatbot, which is located on the bottom right-hand side of our website and we will be more than happy to assist you. 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 leaseFor more information visit our setup guide. 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 4-5 business days for the rent transfer to be completed. Note that if the payment date falls on a weekend or a holiday, the rent collection process will begin on 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. Related Posts Sign up & invite your tenant today. Simplify your next rent payments with Rent Collection. Get started --- ### Rent Guarantee [Rent Guarantee](https://www.singlekey.com/?page_id=49563) Date: January 18, 2023 Author: SingleKey Content: Protect your rental income Rent Guarantee gives you financial and legal support in case of missed rent payments, lease break, property damage. Rental income guarantee: 12 months of rent reimbursed Damage protection: $10,000 in damages Eviction legal fees: $2,000 in legal fees Book a call Get a quote Over $50 million in Guaranteed Rent across Canada Tenant troubles can be costly Even the best tenants can stop paying rent for many reasons (job loss, health issues, breakups). You can’t predict when this will happen, but when it does, costs can quickly get out of control. $16K Average homeowner losses related to tenant evictions $1,450 Average cost of legal, court filing and bailiff fees for tenancy hearings 6-10 months Time to evict a tenant(varies by province) Learn more about the cost of evictions Learn more GIVING PEACE OF MIND TO THOUSANDS OF HOMEOWNERS “I was on the SingleKey Rent Guarantee program and my tenant 
broke the lease. I put in a claim and they quickly covered 1 month 
of lost rent as I needed a few weeks to find a new tenant. Great program!” “I was on the SingleKey Rent Guarantee program and my tenant 
broke the lease. I put in a claim and they quickly covered 1 month 
of lost rent as I needed a few weeks to find a new tenant.
 Great program!” Nathan M. October 2024 “I had a tenant who stopped paying rent after losing their job, 
but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took to evict the tenant.” “I had a tenant who stopped paying rent after losing their job, 
but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took 
to evict the tenant.” William L. October 2024 “I was on the SingleKey Rent Guarantee program and had a tenant 
break the lease. I put in a claim and they were able to get me back the lost rent immediately, as I needed some time to find a new tenant. Super helpful team as well!” “I was on the SingleKey Rent Guarantee program and had a tenant 
break the lease. I put in a claim and they were able to get me back the lost rent immediately, as I needed some time to find a new tenant. Super helpful team as well!” Ben A. October 2024 “As a first-time landlord, I was so nervous about jumping in. 
After much research on how to best protect our investment, I came across SingleKey and can’t believe how effortless the process was. Thank you!” “As a first-time landlord, I was so nervous about jumping in. 
After much research on how to best protect our investment, I came across SingleKey and can’t believe how effortless the process was. Thank you!” Ashley G. July 2024 rent guarantee includes Protect yourself with the Rent Guarantee Get approved and relax: we’ve got you covered with extensive financial backups, legal support, and eviction resolution. Rental income guarantee In case of delinquency, we’ll reimburse up to 12 months’ rent (up to $60,000). 12 months of rent guaranteed Lease break protection Get up to 30 days of rent paid if your tenant leaves unexpectedly without providing proper notice. 30 days of rent guaranteed Property damage protection We’ll reimburse unpaid court-ordered malicious tenant damages up to $10,000. $10K guaranteed Legal and eviction support If you have to go through an eviction, our paralegal team will assist you, with legal fees reimbursed up to $2,000.​ $2K guaranteed Get started Preview sample contract HOW IT WORKS Rent Guarantee steps in when tenants stop paying rent Once tenants stop paying, one of our dedicated Rent Guarantee Specialists will step in to resolve the issue and handle the lengthy legal process on your behalf. We contact the tenant We contact the tenant to understand why they’re not paying and, possible, set up a payment plan. We send an eviction notice If the tenant is unresponsive, or unwilling to pay, we proceed to send an eviction notice. We hire a paralegal to file for eviction If necessary, we then hire an experienced paralegal to file for eviction and book a tribunal hearing. We help you enforce the eviction order After obtaining an eviction judgment, we’ll guide you through the process of hiring a sheriff to remove the tenant if necessary. Inspect property for damages Once the property is vacant, inspect for damages and we can reimburse you up to $10,000 in case of malicious damage. Skip these headaches. Guarantee your rent today. Book a call Get a quote qualifications and requirements Getting approved is easy Our simple and reasonable criteria means we can approve most tenants. Here are the qualification criteria and documents required to apply for the Rent Guarantee. Qualification criteria Tenants qualify for the Rent Guarantee if they have: Rent-to-Gross Household Income Ratio does not exceed 50% Minimum 1 employed person in the household No bankruptcy or eviction on a credit report in the past 3 years Documents required For new tenant applicants we require: Tenant credit report or SingleKey Tenant Report Proof of income and ID Signed lease agreement For existing, mid-lease tenants we also require proof of past rent payments. Get approved today Apply and get started today Sign up and submit your application to get approved for the Rent Guarantee. Share tenant details Enter some information about your rental unit and the tenant you’d like to enrol for the Rent Guarantee program. Upload documents Upload your tenant’s credit report and proof of income documents, so our team can determine their eligibility. See eligibility criteria Get approved After you’ve submitted the required documents, a Rent Guarantee Specialist will let you know if the tenant is approved. Apply now Watch tutorial HOW TO MAKE A DEMAND Reimbursements made simple STEP 1 Tell us what happened Let us know why you need to fill a demand: defaulting on rent, lease break, or damages. STEP 2 Fill out a default notice form Share some additional details about the situation. It only takes 5 minutes! STEP 3 Share a copy of your lease Provide us with a copy of the signed lease agreement. Get guaranteed at an affordable price Pay monthly Pay annually Save 10% Rent Guarantee 5.5% of the monthly rent Book a call What's included: Guaranteed rent: 12 months Property damage protection: $10,000 Legal fees and paralegal support: $2,000 Lease break: 1 month rent Rent collection included (optional) 2 complimentary Tenant Reports ($60 value) 3 months coverage Get reimbursed for 3 months of lost rent. 3.5% of the monthly rent Book a call 6 months coverage Get reimbursed for 6 months of lost rent. 4.5% of the monthly rent Book a call 12 months coverage Recommended Get reimbursed for 12 months of lost rent. 5.5% of the monthly rent Book a call All guarantees also include: Property damage protection: $10,000 Legal fees & paralegal support: $2,000 Lease break: 1 month rent Rent collection included ($50 value) 2 complimentary Tenant Reports ($60 value) Additional benefits included Complementary add-ons for total peace of mind Tenant Screening Annual Rent Guarantee subscriptions include 2 Tenant Reports so you can screen potential tenants with confidence. Reference checks If necessary, our team will call employment and landlord references to verify the tenant’s history, employment, and income. Automated rent collection Set up automated monthly rent collection and help your tenants build their credit with on-time rent payments. Book a call How the Rent Guarantee has helped homeowners Hear from real homeowners and discover how the Rent Guarantee gave them peace of mind How Rent Guarantee Gave this Ontario Investor the Confidence to Grow His Rental Portfolio Eviction Resolved: Rent Guarantee Saves Landlord From $10,000 in Financial Loss Rent Guarantee Saved This Property Owner From More Than $20K in Tenant Default Costs See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 We've had the unfortunate opportunity of using the service, but SingleKey came through and covered our loss. The demand process was efficient and payout came without many hurdles. The guarantee extends support to early lease termination, non-payment of rent, paralegal fees and unit damage. In these times (particularly in Ontario) it is nice to have some cushion to rely on if things go sideways with a tenant. Evan N. December 2023 I had a tenant who stopped paying rent after losing their job, but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took to evict the tenant. SingleKey managed the entire legal process for me, covering all my legal and court fees. If it weren’t for their support, I would have faced a $30,000 loss in rent and legal costs. I highly recommend this program to any small landlord. William L. November 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is included in the Rent Guarantee Program? The Rent Guarantee Program includes:Guaranteed rental income for up to 12 months or $60,000 per leaseDamage protection from malicious tenant damage up to $10,000 per leaseLegal fees incurred during the eviction process covered up to $2,000Automatic Rent Collection via PAD2 FREE Tenant Reports when you pay annually What happens when tenants miss their rent payment? 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. What happens if the tenant causes damage or vandalizes my property? In the case of negligent or wilful property damage by the tenant, please notify us within the next business day and you will be reimbursed up to $10,000 of damages if the tenant refuses to pay. What documents do you need to start the Rent Guarantee? To start the Rent Guarantee, we need the following documents:A SingleKey Tenant Screening Report for each tenantRecent proof of income in the form of recent pay stubs, bank statements, or an employment letterNote that a valid signed lease agreement is only required after the Rent Guarantee is approved by our team.We also recommend that the landlord performs a pre‐inspection report, including images of the property detailing the condition of the unit prior to the tenant moving in. Landlord or home  insurance is also required. What are the Tenant Eligibility Requirements? 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 50% of tenant’s gross household-income. Do you guarantee both existing and new tenants? 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 on time. Who guarantees the SingleKey Rent Guarantee program? The SingleKey Rent Guarantee program is backed by Pensio Global, and is secured by a performance bond issued by global insurers rated A.M. Best A-. Read more on the Knowledge Base Read more --- ### Tenant Report [Tenant Report](https://www.singlekey.com/en-ca/tenant-report/) Date: January 18, 2023 Author: SingleKey Content: Screen tenants smarter and faster Choose your ideal tenant with Canada’s preferred tenant screening report. Get detailed insights in minutes and rent with confidence. Start screening See sample report Powered by Trusted by over 135K landlords in the industry Only SingleKey helps you screen tenants confidently Experience Canada’s leading tenant screening platform. Comprehensive report Don’t miss out on any potential red flags. SingleKey provides you with all the key information. Easy to understand Clear and actionable reports that are visual, summarized and easy to read. Quick & easy to order Order in only 3 simple steps, and get your report back in as little as 5 minutes. Start screening TENANT REPORT FEATURES Everything you need to make informed rental decisions A complete picture of your tenant  Choose between a full credit check from Equifax®, TransUnion®, or both credit bureaus. You'll get access to key credit, employment, and rental history to evaluate your rental applicant’s financial status and reliability as a renter. Learn more See example Easy online rental application Invite your tenant to complete an online rental application and quickly collect their personal details, employment info, proof of income documents, references, and credit check consent. Preview rental application See example Eviction and public record history Protect yourself from a lengthy eviction by getting your applicant’s eviction records sourced from Openroom, SOQUIJ, and CanLII. Plus, find out if they have an existing fraud or criminal history. Learn more See example Social media insights Each Tenant Report includes a scan of publicly available social media profiles, allowing you to compare results with tenant-provided details and verify important aspects like employment history from LinkedIn. See example Income document analysis PDF files provided on the rental application are scanned for signs of tampering. Key details are extracted and automatically checked against the information provided on the rental application. Learn more See example Smart identity verification Make sure the credit check is being run for the right person. Our AI-enabled tool confirms an applicant’s identify by cross-referencing a liveness check (selfie) and their uploaded ID. Learn more See example Over 900 five star reviews How it works Start screening in minutes Get a Tenant Screening Report and discover essential tenant insights in 3 easy steps. Select the type of report Choose between an Equifax®, TransUnion®, Dual Credit Report, or International Credit Check . Invite the tenant to apply An automated email will be sent to the tenant to complete an online rental application. Choose who pays Pre-pay for the Tenant Report, or invite your tenant to pay. Credit and debit cards accepted. Start screening Have questions? Need help with ordering a report? Watch this step-by-step guide on how to order a Tenant Screening Report in less than a minute! You're in good company 147K+ Homeowners 9K+ Real estate agents 1,000+ Property managers 523K+ Tenants screened product demo See the Tenant Screening Report in action Summary Rental application Credit check Public record search Income & employment Reference check Document fraud check Tenant ID verification Video on how to read the report How to read the report See interactive sample report PRICING Start with a Single or Dual Report Customize your tenant screening report with no sign-up or subscription fees—just a simple flat rate. Single Bureau Report OR $29.99   / report Order now What's included: Equifax® or TransUnion® credit check Online rental application Eviction history and public record search Income and employment verification ID and income document verification See sample report Dual Bureau Report AND $44.99   / report Order now What's included: Everything from the Single Bureau Report Run both Equifax® and TransUnion® credit checks Get the full picture and don’t miss any potential red flags Save 25% when you run both credit reports See sample report Why get both? Interested in screening an international tenant? Customize your Tenant Screening Report to fit your needs. Start screening Learn more A full suite to help you rent risk free Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Try for free Learn more Reference check calls Pre-screen interested leads by asking key questions before proceeding to viewings. Learn more Draft and sign leases Once you’ve found your perfect tenant, invite them to sign a lease with eLease. Powered by Try for free Learn more ADDITIONAL FEATURES More than just a credit check Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Pets and vehicles Learn about if the applicant has any pets or if they will require parking spaces. Rent-to-income ratio Quickly assess tenant affordability by looking at their rent-to-household income ratio. Debt payment history Access 48 months of payment history to review a tenant’s past payment behavior. Eviction history Find out if a tenant has been previously evicted or if they have a criminal record. Automated reference check Save time with reference check emails sent to previous landlords. Income document verification We scan paystubs that tenants upload for signs of tampering to prevent fraud. Identity verification Determine if the tenant’s monthly debt payments are too high to afford rent. Anti-fraud features Scan QR code on the report so you can get the credit data straight from the source. Start screening have questions? Speak with a real person Our top-rated Customer Success Team is here to help. Based in Toronto, our friendly representatives are dedicated to providing personalized support. Whether you have questions about our products or need technical guidance, we’re ready to assist. Live support hours are from 8 a.m. to 7 p.m. EST on weekdays and 10 a.m. to 2 p.m. EST on Saturdays. Get in touch See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of the U.S. and Canada including Quebec.For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.

As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.Read our full guide on how to read the SingleKey Tenant Report. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account. After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections. Read more on the Knowledge Base Read more --- ### Homepage [Homepage](https://www.singlekey.com/en-ca/) Meta: Trusted by 150,000+ homeowners. Renting gets unpredictable. Protect your rental income with SingleKey’s risk mitigation solutions for homeowners, rental businesses, and tenants. Date: January 18, 2023 Author: SingleKey Content: Rent with confidence Screen applicants, find the ideal tenant for your rental unit, and ensure your rental payments are guaranteed every month. Create a free account I'm a tenant Trusted by: Take the risk out of renting in 3 easy steps Screen, collect, and manage risks all in one integrated platform. STEP 1 Run a comprehensive Tenant Screening Report Combine a full credit check by Equifax, TransUnion, or Nova Credit with in-depth, employment and income info to get a comprehensive picture of your potential tenants. Powered by Explore tenant screening STEP 2 Collect your rent on time each month Avoid late rental payments and get rent deposited directly into your bank account with our automated payment system. Explore rent collection STEP 3 Guarantee your rental income Stop worrying about having to pay a second mortgage. In case of missed rent payments, property damage, or an eviction, the Rent Guarantee takes on tenant risks and gives you financial and legal support. Explore rent guarantee Who is this for? Our integrated platform takes you from lead to lease. Collect, qualify, and manage your risks with SingleKey. For landlords For property managers For realtors For tenants For landlords Stop worrying about having to pay a second mortgage. In case of missed rent payments, property damage, or an eviction, the Rent Guarantee takes on tenant risks and gives you financial and legal support. A complete overview of a potential tenant’s credit, rental, and employment history in one easy-to-understand summary A streamlined, online tenant selection process that guides you from collecting leads to signing the lease Built-in tools to prevent rental fraud and reduce the risk of tenant defaults Sign up for a free account For property managers Make tenant screening more efficient and focus on the property management tasks that help you operate your properties more profitably. Get more done with less: Quickly vet and select tenants for your properties with our comprehensive Tenant Screening Report. Our priority assistance service gives you the support you need without the wait—at no extra cost. Unlock volume pricing when you regularly run more than 10 reports per month. Sign up for a free account For realtors Protect your clients. Find trustworthy tenants for your clients. Protect clients with financial & legal backups. Enjoy exclusive partner perks. Sign up for a free account For tenants Stand out in a competitive rental market with guarantor services and a shareable rental application. Show housing providers you’re a tenant they can trust with SingleKey as your guarantor. Newcomers, students, and those with low credit have a better chance at getting approved for their lease when they’re backed by us. Share your credit report with as many potential landlords as you need—without impacting your credit score. Sign up for a free account You're in good company 147K+ Homeowners 9K+ Real estate agents 1,000+ Property managers 523K+ Tenants screened Featured reviews Cody Vieira @cody.vieira Kory MacKinnon @korymackinnon David Elliott @davidelliott_realestate Meghan @meghancfp CondoInvest.ca @condoinvest.ca SingleKey @SingleKeyCom Alex Dunbar @alexrdunbar Isaiah Henry @itsmrhenry Alex Dunbar @alexrdunbar Tyler Oxford @tylerjoxford Isaiah Henry @itsmrhenry What is the cost? Tenant Screening STARTING AT $29.99 / report Find your ideal tenant with a verified and comprehensive credit, rental, and employment history. Start screening Rent Collection STARTING AT $4.99 / month per tenant Get rent on time, every time by automating your rent payments. Collect your rent Rent Guarantee STARTING AT 5% / monthly rent per tenant Protect yourself against unpaid rent, eviction fees, and damage costs. Protect your income Streamline your lease every step of the way Screen your tenant Run a report on the tenant and get their credit history. Sign your lease digitally Once you’ve found your perfect tenant, invite them to sign a lease with eLease. Collect your rent Once you’ve found your perfect tenant, invite them to sign a lease with E-leasing. Secure your rental income Dispute resolution, legal support, maintenance and guaranteed rent Discover our complimentary products Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Try for free Learn more Create and sign leases Once you’ve found your perfect tenant, invite them to sign a lease with eLease. Powered by Try for free Learn more have questions? Speak with a real person Our top-rated Customer Success Team is here to help. Based in Toronto, our friendly representatives are dedicated to providing personalized support. Whether you have questions about our products or need technical guidance, we’re ready to assist. Live support hours are from 8 a.m. to 7 p.m. EST on weekdays and 10 a.m. to 2 p.m. EST on Saturdays. Get in touch See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews --- ## EN-CA Posts ### How to Make Your Rental Property Energy Efficient in BC [How to Make Your Rental Property Energy Efficient in BC](https://www.singlekey.com/en-ca/near-me/british-columbia/how-to-make-your-rental-property-energy-efficient-in-bc/) Meta: Attract potential tenants with a green space that minimizes energy consumption and saves you and your tenants money while ensuring your home is eco-friendly. Date: May 5, 2025 Author: SingleKey Content: Many homeowners and investors fantasize about transforming their beloved old homes and buildings into eco-friendly refuges without losing their charm. Consulting with a certified energy advisor can help you explore your options for various green upgrades, from sealing those sneaky air leaks to adding ground-source heat pumps that reduce greenhouse gasses.In this guide, we'll dive into how you can weatherize and green your rental property.Get an assessment from an energy advisorGetting an assessment from an energy advisor can help you eliminate the guesswork involved in finding solutions to make your rental properties more energy-efficient.The Home Energy Savings Program helps homeowners in Prince Rupert and northern Vancouver Island improve energy efficiency through a comprehensive support system. After signing up, a representative provides personalized advice, arranges for an EnerGuide assessment to identify improvement areas, and assists in sourcing qualified contractors.The program also offers guidance on available rebates and loans for financing upgrades and provides educational resources on various upgrades like insulation and heat pumps. This initiative strives to reduce energy costs and greenhouse gas emissions by providing solutions tailored to your needs.Investigate and seal air leaksFinding hidden air leaks can be as easy as getting a blower door test from a certified energy assessor. They’ll help you uncover leaks in the attic, the basement, uninsulated walls, and around your windows and doorways. Seal the leaks by insulating the attic and walls, adding weather stripping to your windows and doors, and caulking any gaps.Upgrade heating and hot water systemsEnergy-efficient heating and hot water systems have come a long way, so now's the time to update your heating and water with energy-efficient upgrades. These upgrades can scale back on energy usage and lower energy bills, reducing your carbon footprint and becoming a significant selling point for potential tenants looking to minimize their utility bills.Energy-efficient heating and hot water systems blend innovation with sustainability. Some energy retrofits and upgrades you can incorporate into your rental include:Air-source heat pumpsTankless hot water systemHeat exchangerLagging kitAir-source heat pumps draw heat from the outside air, perfect for coastal BC. Tankless hot water systems—whether electric, gas, or propane—heat water on demand, eliminating the inefficiency of storage tanks. Heat exchangers capture and reuse waste heat in ventilation and hot water systems. Lagging kits insulate hot water tanks to prevent heat loss and reduce energy use. These advancements save energy and promote a more sustainable, conscientious way of living.Choose sustainable materials for repairsChoosing sustainable materials for repairs preserves the environment and enhances the value of your rental home.For example, investing in the maintenance of wooden windows is a decision that pays off in the long run. With proper care, these windows can stand the test of time, lasting over a century while retaining their durability, natural beauty, and charm. Regular upkeep, such as painting and sealing, is all it takes to ensure their longevity.Restoration over vinyl replacement preserves these elements' timeless character and sustainability, adding lasting value and a sense of history to your home. Incentives for making your rental property greenerMaking energy-efficient upgrades comes with many incentives. One of these is the Clean Buildings Tax Credit, which is a refundable income tax credit for retrofits improving the energy efficiency of commercial and multi-unit residential buildings with four or more units. If the retrofit meets energy-use targets, it offers 5% of qualifying expenditures made between February 22, 2022, and April 1, 2025. Applications can still be submitted until September 30, 2027.FAQ: How to make your rental property energy efficient in BC Why is using reclaimed materials important when considering energy efficiency retrofits? Using reclaimed materials reduces waste, lowers environmental impact, preserves structural character, and saves energy compared to new materials. Additionally, it can enhance the natural beauty of the home. Can you save on property tax in BC for making eco-friendly updates? In British Columbia, you can save on property taxes with energy updates to your home through various incentives and rebates offered for energy-efficient retrofits. Who should I consult for energy efficiency retrofits? Whether you want to restore the natural beauty of a stone driveway or turn your rentals into eco-friendly properties with energy-efficient furnaces, consider hiring an energy advisor or a repair person specializing in eco-friendly updates.  Our final thoughtsStriving to be greener is for the greater good. It can significantly reduce utility costs in the long run, creating a lasting positive impact on both the environment and your property's value.If you're a landlord interested in attracting potential renters to your soon-to-be energy-conserving rental pad, learn more about SingleKey's Tenant Screening services.  --- ### BC Builds Helps Housing Providers and the Cost of Housing [BC Builds Helps Housing Providers and the Cost of Housing](https://www.singlekey.com/en-ca/near-me/british-columbia/bc-builds-helps-housing-providers-and-the-cost-of-housing/) Meta: Housing providers can partner with public and private sectors to accelerate affordable housing projects that provide resources and solutions through BC Builds. Date: May 5, 2025 Author: SingleKey Content: With inflation, high interest rates, and construction costs, developing new rental housing has endured challenges. Those earning a decent salary are struggling to find affordable rental housing. BC Builds addresses these challenges using low-cost, low-interest financing and grants while expediting project timelines. The housing program will free up more housing for people, help finance the cost of construction, utilize underused or low-cost land, and create work for housing developers.In this article, we'll review the details of the BC Builds Project and discuss its impacts on housing providers.What is the BC Builds program?The BC Builds program, led by Premier David Eby and BC's provincial government, is a housing strategy striving to provide affordable housing to middle-income households. British Columbia's housing crisis has made lower-cost rental homes scarce, and this program offers grant funding for building new lower-cost, middle-income homes in designated areas.Tenants won't spend more than 30% of their income on rent. The projects completed in partnership with non-profit organizations and First Nations will set rents at least 20% lower than prevailing market rates for at least 20% of the housing units.Eight pre-zoned public land parcels spanning the Interior to Vancouver Island have been acquired for future BC Builds projects and are now available for housing development.Several BC housing projects are already underway.Funding:Canadian federal government: $2 billionBritish Columbia: $950 millionProvincial low-cost construction financing: $2 billionHow will BC Builds affect rental operations? Housing operators must implement a tenant screening process with income verification, ensuring middle-income households have access to affordable housing units. This will optimize the program's impact and sustainability. The goal is to find middle-income working people, so tenant screening services like SingleKey can help housing providers verify a tenant’s income..What are the benefits of BC Builds for participating housing providers?Government financing, grants, and low-interest loans significantly ease the financial burden of developing new housing projects. You'll have access to low-cost or publicly owned land. With streamlined permitting and approval processes, project timelines are expedited, allowing developments to progress from concept to construction within 12 to 18 months—far quicker than the usual timelines.This initiative will lead to a flood of rental applications and more opportunities for housing operators. More housing means a boost in rental income as well. Each new development increases revenue, supporting the financial health of projects and providing affordable homes for families.How can property owners become eligible for BC Builds?To qualify for the BC Builds program, housing providers should review the housing development opportunities on the BC Builds website and understand the following requirements:Finance: Demonstrate financial stability and secure funding through grants or low-cost financing from BC Housing.Guidelines: Must comply with all BC Housing guidelines, ensuring tenants spend no more than 30% of their income on rent and that at least 20% of units are priced 20% below market rents in partnership projects. Partnerships: Work with nonprofits, local governments, and First Nations to leverage additional resources.Regulations: BC Builds is not designed for short-term rentals. The goal of the project is to provide affordable homes for people who are middle-income earners and reside in British Columbia.Land: Use a pre-zoned, low-cost parcel of land provided by BC Housing that aligns with zoning regulations.Management: Ensure applicants are going through the tenant screening process, adjusting the criteria to align with BC Builds' guidelines that require middle-income people to have access to rental homes.FAQ: How BC Builds creates opportunities for housing operators What is BC Builds? BC Builds, a $19-billion provincial housing plan, aims to boost housing supply and affordability by leveraging lower-cost financing and favorable government borrowing rates. This program addresses the high cost of land and construction.It fast-tracks rental projects, especially around transit hubs, by collaborating with residential builders and using federal financing to cut building costs. BC Builds accelerates the development of rental units, reshaping the housing market with a mix of single-family homes and multi-unit dwelling What is the purpose of BC Builds? The program is a housing plan for residential developers to fast-track affordable rental development. The BC Builds mission is to make affordable homes for people who are middle-income earners.  Who is eligible for the BC Builds program? Middle-income earners with household incomes between $84,780 and $131,950 for a studio or one-bedroom home, or $134,410 to $191,910 for a two-bedroom home or larger. Our final thoughtsBC Builds strives to provide British Columbians in middle-income households with affordable rental housing and offers investors a chance at a great rate for projects. Those who are eligible for the program can rely on SingleKey to leverage our expertise in tenant screening, ensuring you have exceptional candidates that meet the BC Builds checklist. --- ### Tariffs and Canadian Landlords: Risks, Strategies, Solutions [Tariffs and Canadian Landlords: Risks, Strategies, Solutions](https://www.singlekey.com/en-ca/ownerkey/laws-regulation/tariffs-and-canadian-landlords-risks-strategies-solutions/) Meta: Discover how tariffs affect landlords and if a tenant can run a business from a rental property. Key insights and strategies await. Date: May 5, 2025 Author: Mark Gregorski Content: Canadians are anxious about how the country’s future will unfold thanks to Donald Trump's U.S. tariffs, which took effect earlier this year. Canada has never faced such economic pressure from its largest trading partner, and experts are worried that a deep, prolonged recession could emerge. The Canadian government has retaliated with counter-tariffs on U.S. goods, sparking fears of a long-lasting trade war. The situation is evolving daily, with no way to predict how or when it will end.Landlords across the country are naturally concerned about the potential effect of the U.S. tariffs. A distressed economy could affect property values, construction costs, vacancy rates, and delinquencies on rent payments. And not in a positive way.SingleKey's MacKenzie Wilson, Director of Customer Engagement, and Alex Lau, Business Development Associate, landlords based in Alberta and Ontario, respectively, recently sat down to discuss the impact of tariffs on the Canadian rental market and the importance of understanding both short- and long-term implications for landlords and property investors.The current Canadian rental marketRent prices are declining in some parts of Canada, most notably Ontario, says Alex. "We're seeing quite a significant slowdown in the rental market already, especially affecting the condo market here in Ontario. You're seeing drastic drops in rent."He mentions the average rental price has fallen 10% to 15% compared to one to two years ago. And that's before the tariffs arrived, which means the rental market may drop further once their effects are felt.MacKenzie notes Alberta is experiencing a drop in rental rates as well. Similar to Ontario, the average year-over-year rental price could fall as much as 15% to reflect the overall change across Canada. Here’s a resource to stay up-to-date with the rental prices in Canada.Short-term effects of U.S. tariffsHow could U.S. tariffs impact the rental market from a short-term perspective? Alex believes an immediate threat is mass job losses due to businesses relocating to the U.S. This wave of layoffs can cause vacancy rates to spike as renting becomes increasingly unaffordable for many Canadians. And as demand for rental units drops, so do rent prices.“You already have news that larger manufacturing companies are switching their bases back into the United States. So those are good paying jobs, a lot of blue collar jobs as well that will affect the market as a whole. So, I personally think that rents not only will stay depressed, but it might be a longer haul, closer to a year or two.”Long-term effects of U.S. tariffsWhat about the long-term impact of tariffs? MacKenzie is concerned about inflation reigniting, which may cause interest rates to rise. That could lead to debt servicing issues for landlords with a mortgage on their rental properties. Those with mortgage renewals coming up may get stuck with higher payments if interest rates surge.Alex agrees, noting that the Bank of Canada shares the same sentiment regarding the risk of higher rates and debt payments. He also adds that landlords may have to contend with higher home prices. The reason is simple: tariffs will increase the cost of materials and labor required to build homes. This trend of higher production costs may lead to fewer housing starts, making homes more expensive to purchase.Alex elaborates on this point: "We're not going to see it in the next six months. It will probably come to fruition closer to a year or two as the stockpile of remaining materials gets depleted and new orders are needed."Best-case vs. worst-case tariff scenariosGiven their unprecedented scope and scale, MacKenzie says it's tough to imagine the best-case and worst-case scenario of the Trump administration tariffs. However, he has some ideas about what landlords can expect."I think one of the biggest variables is duration," notes MacKenzie. "How long will these tariffs last if they do come into effect?" He says that in the best-case scenario, the tariffs are short-lived, lasting a few weeks or months. In that case, the economy will experience a temporary dip and recover quickly. Even if the tariffs persist, the Bank of Canada may cut interest rates to spur economic activity, thwarting their negative impact.What does the worst-case scenario look like? Both MacKenzie and Alex agree that long-term tariffs may lead to prolonged supply chain issues, slowing the construction of new homes. If the cost of materials and labor rises significantly, the Bank of Canada may hike interest rates to curb inflation. Higher rates will negatively impact landlords’ cash flow as the cost of servicing a mortgage will increase.Practical tips for landlords to weather economic uncertaintyReduce length of vacanciesAlex recommends that landlords minimize the time their rental units sit empty. "It's not the rent price that will ultimately make you lose money; it's your vacancies." MacKenize agrees, explaining that landlords "must be price sensitive and be aggressive in getting someone in the door."In a renter's market, it's better to prioritize occupancy over maximizing revenue. Lowering rent slightly to attract tenants saves money in the long run.Lock in lease renewals earlyMacKenize and Alex go on to discuss tactics for structuring lease agreements. MacKenzie advises landlords to lock in lease renewals two to three months ahead of the renewal date. This ensures a steady rental income for an extended period, helping avoid cash flow issues that may arise from economic uncertainty.Use incentives to attract tenants"Don't shy away from incentives," adds Alex, mentioning how well-established landlords and REITs offer one or two free months of rent to entice renters. To ensure a tenant completes their lease, he suggests placing the free month at the end rather than the beginning. Alex also recommends tying these discounts to positive tenant behavior, such as making on-time payments. For example, a tenant who fails to pay rent on time would not be eligible for the free month at the end of the lease.Mortgage and expense managementClamping down on expenses is vital for landlords to remain profitable amid rising operating costs and inflation. MacKenize emphasizes the importance of keeping mortgage payments low since that's usually the most significant expense. And one way to do that is by choosing a longer amortization period. "String it out as long as possible to get the lowest possible monthly payment," he says. While this strategy leads to more interest charges, he notes landlords can leverage top-ups and prepayment options. The effect reduces the principal, lowering interest charges in the long run, but without sacrificing cash flow.MacKenzie advises landlords to examine other recurring costs, such as insurance, to determine if they can land a cheaper deal. He also recommends setting up a healthy cash reserve to cover potential losses."You want to fortify and be in the best cash flow defensive position possible. And if you're taking that kind of haircut loss, you better start making sure you've got some cash reserves in place. If you don't, see if you can get qualified for a line of credit right now while you're still in a stronger position."Stay adaptableFlexibility is key amid the tariff chaos. And for some landlords, that may entail making decisions that result in temporary financial pain. "Don't be afraid to take short-term losses," remarks Alex, alluding to the importance of filling vacancies quickly to ensure steady rental income. He advises landlords to closely monitor demand for rental units so they can set an appropriate price. Responding swiftly by charging what renters are willing to pay is vital for long-term stability.Negotiating to retain a good tenant is also a smart move, even if it means accepting lower rent at renewal. The reason is that finding a replacement tenant can cost a bundle. MacKenize highlights some expenses involved in preparing a rental unit for a new tenancy: cleaning, repairs, realtor fees, property management fees, and advertising."Even if you reduce rent for your current tenant, you're still saving money when compared to finding a new one all over again. If you have a good and responsible tenant, you try your best to keep them around," says MacKenzie.Protect your rental incomeAs Alex notes, "During tough economic times, job loss is a real risk for many tenants." Therefore, non-payment of rent is a big risk to landlords. To protect against potential financial disaster, landlords should explore programs like SingleKey's Rent Guarantee.The Rent Guarantee Program acts as a financial safety net for rental properties, ensuring landlords continue receiving rent should a tenant fail to pay. SingleKey will cover lost rent for up to 12 months, up to $60,000. In addition, the program provides compensation for property damage expenses and legal fees in case of an eviction.Policy and economic outlookUndoubtedly, the federal government will respond to the U.S.-imposed tariffs to support the Canadian economy. But what kind of action can we expect regarding policy? And what's the potential ripple effect for the economy?Alex believes there's reason to remain optimistic. He predicts that more funds will be allocated to bolstering the country's infrastructure, such as the proposed development of a high-speed rail network between Toronto and Quebec City. These initiatives will create many lucrative jobs, helping stabilize the economy for years.MacKenize also notes the prospect of eliminating interprovincial trade barriers, which could increase Gross Domestic Product (GDP) substantially. "We can add 210 billion to our GDP and economy by just removing trade barriers among provinces," he says, citing recent statistics. MacKenzie also stresses the importance of policies that support domestic energy production. An independent and robust energy sector ensures Canada doesn't rely on imports to keep the lights on. Energy investment can strengthen the overall economy, too, including the rental market.Our final thoughtsIt's tough to predict the outcome of Trump's tariffs on Canada. For now, it's a "wait and see" period, where consumers and businesses are doing their best to prepare for what may come.So, what can landlords do? Focus on reducing ongoing expenses, improving cash flow, and proactively securing leases to stabilize rent payments. Protecting rental income with programs like the Rent Guarantee is also wise.In addition, being flexible is key, especially regarding rent pricing. Landlords who adapt quickly and stay informed will be much better positioned to weather the storm, much like during COVID. There may be short-term losses to endure—but the future can still be bright and profitable. "Real estate is the long game," says Alex. "The longer you hold, the more lucrative it becomes." --- ### SingleKey Is Now a Credit Reporting Agency: Enhancing Credit Data Security and Transparency [SingleKey Is Now a Credit Reporting Agency: Enhancing Credit Data Security and Transparency](https://www.singlekey.com/en-ca/tenant-report/singlekey-is-now-a-credit-reporting-agency/) Meta: Learn what it means to be a registered credit reporting agency and how our Tenant Screening Report complies with Ontario's Consumer Reporting Act. Date: February 11, 2025 Author: Mark Gregorski Content: It's official: SingleKey is now a registered credit reporting agency (CRA)! But what does that mean for landlords who use our tenant screening services? In short, when using our Tenant Report to screen rental applicants, they can be sure the information is reliable and up to date. As a CRA, we're also responsible for ensuring the credit information we provide adheres to the rules and regulations in Ontario's Consumer Reporting Act. Read on to learn more about what it means to be a CRA and how that impacts our users.What is a credit reporting agency?Also known as consumer reporting agencies and credit bureaus, credit reporting agencies collect and maintain information about individuals' credit history. They also compile this financial data into a credit report, which lenders use to assess a person's creditworthiness. In Canada, the largest and most well-known CRAs are Equifax and TransUnion. One of the largest and most well-known CRA specifically for tenant screening is SingleKey.What information does a credit reporting agency collect?  A CRA may gather any information that’s relevant to a person's borrowing history, plus recurring bills like utilities, phone plans, and rent. Some examples of the type of data a CRA collects are:Payment historyOutstanding loan balancesCredit card utilization ratiosCredit inquiries by lendersCourt judgments related to past-due debtsProperty liens on personal assetsBankruptcy filingsDebts sent to collection agencies Where do credit reporting agencies get their data?CRAs get their credit data from many sources, including financial institutions like banks, payday loan lenders, and mortgage lenders. They also gather information from public records maintained by courthouses, land title offices, and other public bodies like the Office of the Superintendent of Bankruptcy. CRAs typically use multiple data points to ensure the accuracy, completeness, and currency of data before adding it to their reports.What does it mean for SingleKey to be a credit reporting agency?As a registered CRA in Ontario, SingleKey provides credit data about Canadian residents in our Tenant Screening Report. This comprehensive document contains credit information obtained directly from Equifax and TransUnion.SingleKey must comply with the legal and regulatory standards established under Ontario’s Consumer Reporting Act. This legislation defines what information a CRA can report, how it can be used, and when someone can gain access by requesting a credit report. It also requires CRAs to collect, compile, and disclose credit information responsibly to protect the rights and privacy of consumers. Learn more about the latest updates to the Ontario Consumer Reporting Act here.In addition to following the guidance set out in the Consumer Reporting Act, SingleKey reports rent payments made through the Rent Collection tool to Equifax. That means a tenant's rental payment history will appear on their Equifax credit report, reflecting their ability to pay this crucial bill on time.How credit reporting agencies like SingleKey impact usersUnder Ontario’s Consumer Reporting Act, registered CRAs must follow specific regulations. This means that anyone who uses the services of a CRA like SingleKey can expect:Accurate credit reportingBy law, the financial data supplied in our Tenant Report must be genuine, accurate, and current. For example, if a consumer spots an error on their report and requests a correction, the CRA must honour that request.Strict compliance with data security standardsSingleKey is SOC2 compliant. This undertaking shows SingleKey’s commitment to safeguarding individuals' credit information and ensuring their privacy and security. Under the Ontario Consumer Reporting Act, these sensitive details can only be shared for a legitimate reason. Examples of these reasons include a lender evaluating a loan application or a landlord screening a rental application.Records of third parties (such as landlords) who access credit reports are maintained, which tenants can request for their review. They also have the right to ask the CRA to provide contact details on who accessed their credit report over three years.Specific data is also restricted from appearing in our credit reports. This includes negative information older than seven years, such as first-time bankruptcies. Information about race, colour, creed, and other protected characteristics are also prohibited.Under the Ontario Consumer Reporting Act, CRAs must also remove false credit information upon consumers' request. This keeps credit reports as free as possible of errors and fraudulent transactions.Our final thoughtsSingleKey's status as a credit reporting agency further indicates its commitment to responsible data sharing, enabling landlords and tenants to have access to a wealth of financial data.Our Tenant Screening Report strives to be as accurate, transparent, and current as possible, in accordance with Ontario's Consumer Reporting Act. Every piece of data is collected, managed, and disclosed as permitted by law, and the protection of consumers’ rights and privacy is a top priority. Learn more about the role credit reporting agencies play and how their services can help us understand our credit and overall financial health.  --- ### Nova Scotia 2025 Rent Increase Guidelines [Nova Scotia 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/nova-scotia/nova-scotia-rent-increase-2023/) Meta: Learn how Nova Scotia's 2025 rent increase guidelines affect your rental properties and discover tips to raise rent wisely for your tenants. Date: January 29, 2025 Author: Mark Gregorski Content: Knowing how much you can increase rents as a landlord in Nova Scotia is critical, especially if you’d like to prevent disputes with your tenants. In this guide, we'll break down the rules to implement and communicate the new rate with your tenants. We'll also cover instances where you may qualify to increase rents above the amount permitted under the guidelines.2025 updates to Nova Scotia’s rent increase guidelinesThe rent increase guideline in Nova Scotia for 2025 is 5%. As an example of what this means in practice, suppose you're currently charging your tenant $1,600 monthly. In that case, you can raise their rent to a maximum of $1,680. In most cases, you can increase the rent only if 12 months have passed since either the last increase or the start date of the lease. You must provide your tenant with at least four months' written notice of a rent increase, whether for a fixed-term or month-to-month lease. Weekly leases require a minimum of eight weeks' notice.If you remove a service that was originally included in the lease, the action is considered the equivalent of a rent increase. For example, let's say you add a policy in 2025 that requires your tenant to pay for electricity. In that case, the government would view the discontinuation of the utility as a rent increase, since your tenant now has to pay separately for a service that was previously part of the rental fee.Rent increase guidelines for land-lease communitiesThe rent increase guidelines and related legislation differ slightly for rental units in land-lease communities, such as mobile parks. Here are a few key things to remember: The maximum allowable rent increase for a mobile home for 2025 is 5.8%. You can raise the rent every 12 months, but not during the first 12 month-period of a tenancy. If the rent increase is less than 5.8%, you can apply the remaining amount to next year's increase. You must give your tenant at least seven months' written notice before their lease anniversary date (when they first moved in).You must also fill out specific documents to raise the rent legally for a mobile home. We'll cover these in detail later in this guide.Note: As of February 3, 2023, you can raise the rent on a Nova Scotia property any time during the year, provided you give your tenant four months' notice and increase the price only once in 12 months. Rent increase exceptionsYou may be able to increase the rent beyond the annual guideline if your rental property is a mobile home. To be considered, you must apply to the Director of Residential Tenancies. The application costs $31.15, and it usually takes one to three months to receive a response.Click here to learn how to apply for a mobile home rent increase that’s above the allowable guideline.How to raise rent in Nova ScotiaBelow are the steps for raising the rent for a Nova Scotia property in 2025.Step 1: Determine your new rent priceStart by reviewing your operating costs, such as property taxes, insurance, and repairs. Have they increased during the past year? If so, calculate how much you would have to raise your tenant’s rent to maintain your profit margin.Next, research the state of the rental market in your area and learn what other landlords are charging. It's essential to set a price that reflects current demand to stay competitive; otherwise, you risk alienating renters, and in turn, increasing your turnover costs.Step 2: Prepare the notice of rent increaseYou're legally responsible for informing your tenant in writing when raising their rent in Nova Scotia. If you fail to give them proper notice, they can dispute the change by applying to the Director of Residential Tenancies. There's no specific form you need to use to create your notice if you're increasing the rent price on a standard residential property, such as a detached home, apartment, or townhouse. As per the province's Residential Tenancies Act, the notice must indicate, at a minimum, the new rental fee and the date it takes effect. However, if your tenant lives in a mobile home, you'll need to prepare the notice using the following document:Form M - Landlord's Notice of Rent Increase for space in a land-lease communityAs mentioned, you may be eligible to raise the rent beyond the annual guideline if you rent out a mobile home. To be considered, you'll need to complete these two forms along with Form M: Form N – Application to Director – Rent Increase Greater Than Annual Allowable Rent Increase AmountForm O – Financial Information in Support of a Rent Increase Greater Than Annual Allowable Rent Increase Amount. The resources below provide more details on how to complete these forms: Form N instructionsForm O instructions While it’s not legally required, it's wise to include a note with your rent increase notice that explains why you're raising the rent. This could help ease any concerns your tenant may have.Step 3: Notify your tenant of the rent increaseIn Nova Scotia, you must give your tenant at least four months' notice before the new rent fee applies. Weekly tenancies are an exception: they require eight weeks' notice.How you deliver the rent increase notice is up to you, but you're responsible for ensuring your tenant receives it on time. Section 8D of the RTA explains their definition of "on time."Resolving issues about rent controlThere's always a possibility that your tenant will refuse the new rent price. If this occurs and you can’t resolve the issue yourself, you can seek assistance from the Director of Residential Tenancies. To file a dispute resolution application, you must complete Form J – Application to Director to resolve dispute between landlord and tenant or apply online. You can learn more about the eligibility and application processes here.Our final thoughtsThe maximum amount you can raise the rent in Nova Scotia for 2025 is 5%. This amount applies to all residential properties in the province, except for those in land-lease communities, such as mobile parks. If your tenant lives in a mobile home, you can increase the rent up to 5.8%. You'll need permission from the Director of Residential Tenancies to raise your mobile home rent fee higher than this amount.For rent increases to be considered lawful, you must give your tenant written notice at least four months before it takes effect (seven months for mobile home rental units). This rule applies to both fixed-term and month-to-month leases. For further details about Nova Scotia's rent increase guidelines, visit the Government of Nova Scotia website. --- ### Ontario 2025 Rent Increase Guidelines [Ontario 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/ontario/ontario-rent-increase-2023/) Meta: Here's everything you need to know about 2025's rent increase guidelines in Ontario and how to raise rent as a landlord for your tenants. Date: January 29, 2025 Author: Mark Gregorski Content: Ontario's Landlord and Tenant Board (LTB) has released the annual rent increase guideline for 2025. If you're a landlord planning on increasing your rent, knowing how high you can set your new price is essential to staying compliant with the law and setting expectations for your tenant.In this guide, we'll cover everything you need to know about the new guideline, including the maximum rent increase allowed for 2025, the types of properties it applies to, and situations where you can raise your rent by more than the legal limit. We'll also explain how and when you must notify your tenant of a rent increase.2025 updates to Ontario’s rent increase guidelineThe rent increase guideline in Ontario for 2025 is 2.5%. In other words, 2.5% is the maximum you can raise your tenant's rent during the year. For example, if you rent a property for $1,500 monthly, you can increase the price to $1,537.50. If you'd like to increase your rent higher than this limit, you'll need to obtain approval from the LTB.In most cases, you can increase the rent price for a residential property 12 months after:The last rent increaseThe start date of the tenancyAs the landlord or property owner, you must provide your tenant with 90 days written notice using the appropriate form before it takes effect.What properties does the Ontario rent increase guideline affect?The 2025 rent increase guideline applies to most residential rental properties outlined in the Residential Tenancies Act, 2006, (RTA) including:         Rented houses         Apartments         Basement apartments         Condos         Care homes         Mobile homes         Land lease communitiesThe rent increase guideline doesn’t apply to:         Vacant residential units         Community housing units         Long-term care homes         Commercial properties         Subsidized housing (different rent control rules govern these property types)2025 rent increase exceptionsIn some cases, you can apply to the LTB to raise your rent more than the allowable amount under the rent increase guideline. According to Tribunals Ontario, here are the instances in which you can request an exemption:Your municipal taxes and charges have increased by an "extraordinary amount."You performed significant renovations, repairs, replacements, or added new additions to your property.You faced a substantial increase in security expenses.  Some exceptions to the Ontario rent increase guideline apply automatically.For example, the guideline pertains only to the rent portion of care homes, not to the costs associated with services like nursing, food, and cleaning. As a result, you could raise the fees associated with delivering such services as high as you deem reasonable, even if they exceed the guideline when combined with the rent fee.There's also an exemption for new buildings, additions to existing buildings, and new basement suites occupied for the first time after November 15, 2018. To avoid legal disputes related to the residential occupancy date, keep relevant records as proof. Some examples are building permits, occupancy permits, and home warranty documents.How to raise rents in OntarioAre you thinking about raising rent for your Ontario property in 2025? Here's how to do it:Step 1: Determine your new rent priceTake some time to determine a suitable rent price. You'll want to consider average rental prices in your area for units similar to yours, increases in your operating costs, and what renters would be willing to pay. Striking the right balance between these variables is critical to ensure your rental generates a healthy profit margin while remaining attractive to tenants.Choose something fair and reasonable based on your property's value, market demand, and other relevant factors.Step 2: Complete the required formIn Ontario, you must supply your tenant with specific documentation whenever you raise your rent. Depending on your property type and the nature of the tenancy, you'll need to fill out one of the following forms:N1 Notice of Rent Increase with instructionsN2 Notice of Rent Increase (Unit Partially Exempt) with instructionsN3 Notice to increase the rent and/or Charges for care service and meals with instructionsN10 Agreement to Increase Rent Above the Guideline with instructionsStep 3: Notify your tenant of the upcoming rent increaseUnder Ontario’s residential tenancy law, you must give your tenant at least 90 days notice of an impending rate increase.Send your tenant the appropriate form and any other supporting documentation that provides further details about the upcoming rent hike. They must receive the documents on time, so it's best to deliver them personally or use registered mail. You can also serve the notice through email. It’s always a good idea to follow up with the tenant to ensure they've received it.Resolving issues about rent controlContact the LTB to determine whether your rental unit is eligible for an exemption under the rent increase guideline. To improve your chances of qualifying, include an additional term under section 15 of the lease agreement, stating that the property is exempt from the rent increase limit. Make sure to retain all records to support your case.Our final thoughtsThe maximum allowable rent increase in Ontario for 2025 is 2.5%, which applies to most residential rental properties in the province.As a landlord, you must follow proper procedures to raise your rent. This means providing your tenants a minimum of 90 days' notice using the appropriate form. In addition, you can increase your rent price only if 12 months have passed since the last increase or the start date of a new tenancy. Specific properties are exempt from the annual rent increase guideline, such as commercial properties, vacant units, and long-term care homes. Depending on your circumstances, you can also request approval from the LTB to raise your rent beyond the allowable amount. For further details about Ontario's 2025 rent increase guidelines, visit the Government of Ontario's website. Check out our Ontario rental documents page too, where we've compiled every form you’ll need to inform your tenant of changes to their lease agreement. --- ### British Columbia 2025 Rent Increase Guidelines [British Columbia 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/british-columbia/british-columbia-rent-increase-2023/) Meta: Here are the key guidelines and rules for landlords in British Columbia to raise rent for their tenants in 2025. Date: January 29, 2025 Author: Mark Gregorski Content: British Columbia's Ministry of Housing has announced the new rent increase guideline for 2025. This guideline sets a limit on how high you can raise your rent price for a residential property. If you're a landlord planning to hike your rent in 2025, the guideline is a number you'll want to become familiar with. Charging more than what's allowed in the province can spur legal trouble and complaints from tenants.In this article, we'll explain the maximum amount you can raise your rent, how and when to notify your tenant, what properties the guideline impacts, and instances where you may qualify to increase your rent beyond the legal limit.2025 updates to British Columbia’s rent increase guidelinesThe rent increase guideline in British Columbia for 2025 is 3%. In other words, 3% is the maximum amount that you can raise your rent on a residential property. For example, let's assume you're renting out a condo you own for $1,200 a month and wish to increase your price in 2025. In this scenario, the most you can charge your tenant is $1,236.Under certain circumstances, you may increase your rent by more than the allowable amount under the guideline. However, you must obtain permission from the province's Residential Tenancy Branch (RTB).The 2025 rent increase guideline of 3% applies to manufactured home park tenancies, too. But as the property owner of a mobile home, you can also add a proportional fee to your rent price to cover increases in local government levies and regulated utility costs.In most cases, you can raise your rent only once per 12-month period. More specifically, a rent increase is allowed 12 months after:The last rent increase (including assignments)The start date of a tenancyFurthermore, you can't apply a rent increase in 2025 that relates to a previous year. For example, in 2024, the maximum allowable rent increase was 3.5%. If you raised your tenant's rent by only 1.5% in 2024, you can't carry forward the remaining 2% and add it to your 2025 rental rate. You must use the full rent increase only in the year in which it applies. Otherwise, it's lost forever. If you plan to bump up your rent in 2025, you must give your tenant three months' notice using a government-approved form. What properties does the British Columbia rent increase guideline affect?The 2025 rent increase guideline applies to rental properties as specified in British Columbia’s Residential Tenancy Act (RTA) and the Manufactured Home Park Tenancy Act, including:Rented housesApartmentsCondosBasement apartmentsCare homesMobile homesLand lease communitiesHere are some rental units that the guideline doesn’t apply to:Vacant residential unitsCommunity housing unitsLong-term care homesCommercial propertiesMilitary housingSocial housingFor a complete list of the types of properties governed under the RTA or Manufactured Home Park Tenancy Act, check out this list.2025 rent increase exceptionsUnder extraordinary situations, the RTB may permit you to raise your rent beyond the allowable amount under the rent increase guideline. According to Section 23 of the Residential Tenancy Regulation (RTR), which complements the legislation found in the RTA, there are three situations where you may qualify to increase your rent higher than the annual guideline:You incurred a financial loss on your property due to an extraordinary increase in operating costs.You incurred a financial loss on your property due to the significant financing costs of purchasing it, which you could not foresee under ordinary circumstances.You, as a tenant, received an additional rent increase for the same rental property.To determine if you qualify for an exemption, send an application to the RTB using form RTB-52. Visit this link to learn more about the process for claiming an exemption.  In some cases, exceptions to the rent increase guideline apply automatically, which means there's no need to request permission from the RTB. For example, the guideline affects only the rent portion of a bill for a care home; it excludes services like nursing, food, and cleaning. As a result, you can charge tenants whatever fee you deem appropriate for these services.How to raise rent in British ColumbiaAre you planning to raise your rent price for your British Columbia property in 2025? Here's how to do it:Step 1: Determine your new rent priceYour first task is to figure out your new rent price. Your new rate should balance both affordability for tenants and profitability for your rental business.Your rent price will depend primarily on the going rate for similar units in your region. Compare your rental property with those in your vicinity to see the average rate. Let local market trends guide you when deciding on a fair and reasonable price.Another critical factor to assess is your operating expenses, such as property taxes, mortgage payments, utilities, maintenance, and insurance premiums. Add up your costs to see if they increased during the past year and by how much.Step 2: Obtain and fill out the required documentationOnce you've determined your ideal rent price, it's time to get it in writing so that you can inform your tenant of the upcoming increase. Depending on the nature of your tenancy, you'll need to fill out one of the following documents:       RTB-7 Notice of Rent Increase       RTB-52 Application for Additional Rent Increase       RTB-45 Notice of Standard Rent Increase – Manufactured Home Site       RTB-11a Notice of Rent Increase – Manufactured Home SiteWhile not legally required, creating another document explaining the reasoning behind your rent increase is worthwhile. For example, you can include a detailed breakdown of your operating costs, noting how they've increased in the past year.Being transparent with your tenant will help minimize complaints and confrontations. If you can justify your rent price with compelling facts, they'll be less likely to challenge it.Step 3: Notify your tenant of the upcoming rent increaseOnce you complete the required rent increase form, submit it to your tenant, along with any other supporting documents.In British Columbia, you must give tenants at least three months' notice of a rent increase. Otherwise, it's considered invalid, and they won’t have to pay it.To ensure your tenant receives the notice on time, consider delivering it in person or sending it via registered mail. You can also use email if you'd like, but remember to verify that they received your message, as it could end up in their spam inbox.Resolving issues about rent controlIf you encounter issues with your tenant about a rent increase, you can apply to the RTB, which will arrange a hearing so you can present your case. You can apply for dispute resolution through the RTB using a Basic BCeID. Alternatively, you can submit a manual application at a Service BC office.Our final thoughtsThe maximum allowable rent increase in British Columbia for 2025 is 3%. This limit applies to most residential rental units in the province. For any rent increase to be legitimate, you must give your tenant three months' notice using the approved form. If you're considering bumping up your rent, ensure your new price doesn't exceed this limit. If it does, your tenant can legally refuse to pay it. They can also file a dispute with the RTB. Under exceptional circumstances, you may request an exception from the RTB, allowing you to raise your rent beyond the guideline. Be prepared to support your case with compelling evidence and know that your tenant can challenge your application.Visit the Government of British Columbia website to learn more about the province's 2025 rent increase guideline.   --- ### Saskatchewan 2025 Rent Increase Guidelines [Saskatchewan 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/saskatchewan/saskatchewan-rent-increase-2023/) Meta: Learn everything you need to know to raise rent as a landlord in Saskatchewan, from the 2025 rent increase guidelines to the right forms to use. Date: January 29, 2025 Author: Mark Gregorski Content: If you’re thinking about raising the rent on your Saskatchewan rental property this year, you'll want to know the province's rules surrounding rent increases. Understanding how and when to raise your rent is vital to ensure you don't break local tenancy laws.Read on for details on rent control laws in Saskatchewan, how and when to notify your tenants of a rent hike, and key tips to avoid disputes with your tenants when increasing their rents. 2025 updates to Saskatchewan's rent increase guidelineThere's no rent control in Saskatchewan for residential properties, meaning you can increase rent prices as much as you like in 2025. However, there are restrictions in place that dictate how and when you can do so. Before implementing a rent increase, you must give your tenants written notice using an approved form. The amount of notice required and how often you can raise rental prices depend primarily on whether the lease is fixed or periodic. Rent increase guidelines for fixed-term tenanciesNo rent increases are allowed during a fixed-term tenancy unless you and your tenants agree on the amount of the raise and the date it takes effect when signing the lease agreement. The only other time you can increase the rent on a fixed-term lease is after the current lease agreement expires. To do so, you must provide your tenants with at least two months' written notice before the tenancy ends. Rent increase guidelines for periodic tenanciesUnder a periodic tenancy, how often you can increase the rent and the notice you must provide to your tenants depend on whether or not you’re a member of a prescribed landlord association. In Saskatchewan, there are two such associations:Saskatchewan Landlord Association (SKLA)Network of Non-Profit Housing Providers in Saskatchewan (NPHPS)If you’re a member of the SKLA or NPHPS, you must give your tenants six months' written notice before increasing their rent price. You can implement the new amount once 12 months have passed since the tenancy start date and raise it once every six months after that. If you’re not a member of either organization, the first rent increase may begin only after 18 months of the tenancy start date. From there, you’re restricted to increasing your rent once every 12 months. You must give your tenants at least 12 months' written notice before the new rent price takes effect. Rent increase exemptionsA tenant in a subsidized housing program is exempt from the above rules. Instead, their rent can only increase if their household income does.How to raise rent in Saskatchewan by lease typeBased on fixed-term and periodic leases, here are the steps for raising the rent price for a Saskatchewan rental property in 2025:Fixed leaseStep 1: Determine your new rent priceStart by figuring out how much to charge for rent. Whatever number you choose should allow you to maintain a healthy profit, but also remain affordable for renters.First, assess how much you’ve spent maintaining your property during the past year (remember to include the cost of renovations and upgrades). If your expenditures have increased, calculate the amount of rent you’ll need to charge your tenants to maintain your current profit margin. Next, research rental rates for properties in your area that are similar to yours. Choosing a price that reflects the local competition is crucial to attract tenants.Step 2: Prepare the notice of rent increaseAfter determining your new rent price, you must present the information to your tenant in writing using government-approved documentation. For a fixed-term tenancy, you'll need to complete the following form:Term Lease – Two-Month Notice of Intention FormIn addition, it's wise to include an additional document that outlines the reasoning behind your new rent price. By being honest about why you're asking your tenants to pay more, they'll be less likely to object—and more willing to renew their lease.Step 3: Notify your tenants of the rent increaseFor a fixed-term tenancy, you must provide your tenants at least two months' notice before the new rent takes effect. To ensure they receive the news before the deadline expires, deliver the documents in person or by registered mail. Email is also acceptable, but follow up with them to confirm they got your message, as it could end up in their spam.Periodic leaseStep 1: Determine your new rent priceBefore informing your tenants of a rent increase, decide on a suitable new rate. Whatever amount you choose should allow your rental property to stay profitable while encouraging your tenants to renew their lease.First, evaluate your operating costs. Have they gone up this past year? If so, by how much? Second, examine the state of the rental market in your area. What's the general trend in pricing? Are rental units similar to yours moving up, and if so, by how much? Step 2: Prepare the notice of rent increase for your tenantsFor a periodic lease in Saskatchewan, you must inform your tenants of a rent increase in writing using an approved form. Depending on whether you’re a member of one of the designated landlord associations, you’ll need to complete one of the two documents below:Notice of Rent Increase Notice of Rent Increase for Prescribed Landlord Association MembersWhile not legally required, it's worth adding a note explaining the rent increase. You can break down the operating costs that have gone up during the past year and provide examples of local rent fees for comparable rental units. If you can justify your new rent price with compelling data, your tenants will be less likely to complain.Step 3: Notify your tenants of the rent increaseOnce you have your document ready, it's time to send it to your tenants so they're aware of the upcoming change. You must give your tenants at least six months' notice for a periodic tenancy, provided you hold a SKLA or NPHPS membership. If you're not a member of either organization, you must provide at least 12 months' notice.How you deliver the rent increase form is up to you, but ensure it reaches your tenants within the required time frame. If you fail to give them proper notice, they're legally entitled to a refund of the extra rent paid.Resolving issues about rent pricingIf you become embroiled in a conflict with your tenants about rent, you can apply to the Office of Residential Tenancies (ORT) for help. The ORT has the legal power to judge residential tenancy disputes and prescribe settlements up to $30,000. Click here to learn the steps to file a dispute.Our final thoughtsSaskatchewan is one of the few provinces in Canada where there are no rent control laws. There are rules, however, that you must observe regarding how often you can increase rents, how much notice you must give to your tenants, and what form you must fill out for your new rent fee to be valid. You must provide a minimum of two months' notice of an impending rent increase for a fixed-term tenancy, and you can raise the rent only once yearly. For a periodic tenancy, you need to give your tenants at least six months notice, and you can increase their rent every six months, provided you’re a member of SKLA or NPHPS. If you’re not a member, 12 months’ notice is required, and you can raise the price only once per year.For further details about Saskatchewan’s rent increase laws, visit the Government of Saskatchewan website.  --- ### Manitoba 2025 Rent Increase Guidelines [Manitoba 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/manitoba/manitoba-rent-increase-2023/) Meta: Explore the 2025 rent increase guidelines for Manitoba and learn how landlords can avoid tenant disputes by giving proper notice and raising rent according to legal limits. Date: January 29, 2025 Author: Mark Gregorski Content: Manitoba resumed setting rent increase guidelines on January 1, 2024, following a two-year rent freeze in response to the COVID-19 pandemic. With the maximum rent fee changing again in 2025, knowing how much you can charge as a landlord is crucial for avoiding legal trouble and setting expectations for tenants. In this guide, we'll explain the key facts you need to know about Manitoba's rent increase guideline, including the maximum amount you can raise rents and how to notify your tenant. We'll also cover situations where you may qualify to increase rents by more than the legal limit. 2025 updates to Manitoba’s rent increase guidelines The rent increase guideline in Manitoba for 2025 is 1.7%. In other words, if you charged your tenant $1,400 monthly for rent in 2024, you can increase the price only up to $1,423.80 in 2025. Only one rent increase is allowed per year. If you'd like to raise your rent by more than this amount, you must obtain permission from the Residential Tenancies Branch (RTB). You'll need to submit your application in writing to the RTB and explain why a higher rent increase is justifiable for your rental property. You must provide your tenant with at least three months' written notice using a government-approved form before the new price takes effect. You'll also need to inform the RTB in writing of your upcoming rent increase within 14 days of notifying your tenant.  Your tenant can challenge a rent increase by filing an objection with the RTB at least two months before it takes effect. What properties are affected by the Manitoba rent increase guideline? The 2025 rent increase guideline applies to most residential rental properties specified in Part 9 of the Residential Tenancies Act, including: Houses Apartments Duplexes Suites in a house or apartment Mobile homes and mobile home lots However, some rental units are exempt, including but not limited to: Units where the rent price is $1,640.00 or more per month Rental units owned and managed by or for the municipal, provincial, or federal governments Rental units in residential complexes first occupied after March 7, 2005 (the units are exempt from the guideline for 20 years) Nursing homes or personal care home units Rental units in hotels or motels Student housing Though the rent increase guideline doesn't affect the above rental units, you're still legally required to give tenants a minimum of three months' notice. 2025 rent increase exceptions Under exceptional circumstances, you can raise your rent by more than the allowable amount under the rent increase guideline. To do so, you must receive approval from the RTB.  To request an extra rent increase, apply to the RTB in writing within 14 days of submitting the rent increase to your tenant. You'll need to pay a fee, which varies depending on how many rental units you owe (the minimum is $150.00.) The RTB will take several factors into account when deciding whether you can raise your rent beyond the guideline and by how much, including: Changes in operating expenses Capital expenses (for example, replacing roof shingles or buying new appliances) Increased costs due to lack of repairs and maintenance done in previous years Changes in services you provide for your tenant The size of your current operating loss, if applicable The current inflation rate Your tenant also has the right to comment on rent increases that exceed the annual guideline. The RTB will consider their objections before making their decision. Get further information about applying for a rent increase above the guideline here. How to raise rent in Manitoba Here’s how to go about raising rents in Manitoba in 2025: Step 1: Determine the new rent price Start by figuring out your ideal rent price. While this may seem straightforward, it requires planning. Consider how much you’ll need to stay profitable while encouraging your tenants to renew their lease. Next, check out the rent fees other landlords charge in your area. This ensures your new rental price is fair and reasonable. Otherwise, you risk losing your tenants. Step 2: Prepare the notice of rent increase In Manitoba, you're legally responsible for giving your tenant written notice of a rent increase. Fill out one of the following two forms.  Form 1A – Notice of Rent Increase Form 3 – Application for Rent Increase Above Amount Permitted by Regulation Be open with your tenants. Try adding a note to your notice of rent increase form to explain why you're raising the rent. Helping them better understand your reasoning may make it easier for them to accept the new rental fee.  Step 3: Notify your tenants of the rent increase The next step is to submit the Notice of Rent Increase form to your tenants. By law, they must receive the document at least three months before your new rent price applies. Otherwise, the rent increase is invalid, and they don't have to pay it. Consider delivering the notice to your tenants in person or sending it by registered mail. You can also email it, but remember to confirm they received your message. Resolving issues about rent control Should a dispute arise between you and your tenants about a rent increase, contact the RTB to set up a hearing. The RTB will evaluate your case and issue a resolution based on the procedures and regulations in the Residential Tenancies Act.  If you disagree with a decision made by the RTB hearing officer, you can request an appeal within 14 days through the Residential Tenancies Commission.  Our final thoughts In Manitoba, the maximum amount you can raise a tenant’s rent in 2025 is 1.7%. You must give your tenant at least three month's notice of the proposed rent price using an approved form, and you can only increase the price once during the year.  If you wish to increase your price above the 1.7% limit, you must get permission from the RTB and pay a fee. Certain rental properties are exempt from the Manitoba rent increase guideline, including buildings first occupied after March 7, 2005, nursing homes, student housing units, and units where the rent price is at least $1,640.00. For more details about Manitoba's 2025 rent increase guidelines, visit the Government of Manitoba website. --- ### Quebec 2025 Rent Increase Guidelines [Quebec 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/quebec/quebec-rent-increase-2023/) Meta: Make the most out of your rentals! Stay up to date with Quebec’s 2025 Rent Increase guidelines, summarized in this essential piece for landlords. Date: January 29, 2025 Author: Mark Gregorski Content: Are you planning to raise the rent on your Quebec rental property in 2025? If so, you'll want to become familiar with the province's rent control laws, which are quite distinct from those in the rest of Canada. Knowing how and when to increase your rent in Quebec is crucial to avoid legal trouble and conflict with your tenants.In this guide, we'll cover everything you need to know about increasing your rent in Quebec, including the maximum price you can set, how to notify your tenants, and how to resolve pricing disputes through the province's housing tribunal.2025 updates to Quebec’s rent increase guidelinesThere's no limit to how much you can raise your rent in Quebec, so you have plenty of flexibility in choosing your price for 2025. However, rules are in place to prevent landlords from implementing excessive rent increases. In Quebec, your tenant must accept your rent increase before you can implement it. Your tenant has the legal right to refuse your proposed price within one month of receiving your notice. They can appeal to the Tribunal administratif du logement (TAL), which will, in turn, decide on an appropriate amount.The Quebec government encourages landlords and tenants to arrange a rent increase that's fair and reasonable. Each year in mid-January, the TAL publishes a list of rent increase recommendations to help landlords determine a suitable price. These recommendations aren't legal requirements but rather rules of thumb to facilitate tenant negotiations. The TAL’s 2025 rent increase recommendationsThe TAL's rent increase recommendations consider various expenses incurred in operating a rental property. These include energy costs, municipal taxes, and capital expenditures. They calculate their figures according to Quebec's rent-fixing regulations. For 2025, the TAL suggests an average rent increase of:5.9% for unheated dwellings 5.5% for dwellings heated by electricity5.0% for dwellings heated by gas4.1% for dwellings heated by heating oil These rent increase recommendations apply from April 2, 2025 to April 1, 2026.2025 rent increase resourcesExplore the links below for some helpful rent increase resources from the TAL:An online calculator for rent increases in Quebec (French only)A fillable PDF to calculate rent increases in Quebec  Rent increase notice requirementsFor a rent increase to be valid in Quebec, you must give your tenant proper notice using an approved form. The amount of notice required depends on the type of lease:For fixed-term tenancies of one year or more, you must give three to six months' notice before the lease renewal date.For fixed-term tenancies of less than one year, you must provide at least one to two months' notice before the lease renewal date.For tenancies with no set end date (periodic tenancies), you must give one to two month's notice before the rent increase takes effect.How to raise rent by lease typeHere are the steps for raising the rent price for a rental property in Quebec based on the lease.Fixed leaseStep 1: Determine your new rent priceStart by figuring out your ideal rent price. The amount you charge should allow you to cover your operating expenses while encouraging your tenant to renew their lease.Assess your spending during the past year to maintain your property, including insurance premiums, property taxes, and utilities. At a minimum, your new rent fee should offset the extra expenses you've incurred.Next, evaluate what other landlords are charging in your area for similar rental properties. Knowing what price renters would be willing to pay is crucial to minimizing vacancy costs.Step 2: Prepare the notice of rent increaseOnce you've determined a suitable rent fee, it's time to prepare a notice for your tenant, which you'll need to do using the following form:Notice of rent increase and modification of another condition of the leaseAdd a note to your rent increase notice that explains the reasoning behind the rent adjustment. Being transparent with your tenants can help minimize disputes over the new rate.Step 3: Notify your tenant of the rent increaseFor a fixed-term lease that lasts 12 months or more, you must give your tenant three to six months' notice before the term ends. If the lease is less than 12 months, the notice period is one to two months. If your tenant doesn't respond to your notice of rent increase, it's assumed they have accepted your new fee. But if they object to it, they must notify you in writing within one month of receiving it using the following form:Lessee's response to a notice of rent increase and modification of another condition of the leasePeriodic leaseStep 1: Determine your new rent priceEvaluate the previous year's operating expenses. Did your bills increase? If so, which ones, and by how much? Make sure you include in your calculation the cost of any remodeling work you've done to your property, too.Next, do some research on rental rates in your area. Find a few properties similar to your own in size, age, condition, and amenities. Then, determine the average rental fee that landlords are charging for those properties. This step is important in deciding a price that reflects your competition and the local market demand.Step 2: Prepare the notice of rent increaseIn Quebec, you must use the following document to give your tenant proper notice:Notice of rent increase and modification of another condition of the leaseBesides completing the above form, it's also worth adding an extra note that explains why you're raising the rent. Step 3: Notify your tenant of the rent increaseThe final step is to inform your tenant of the rent increase. For a periodic lease, you must serve your notice between one and two months before the date it takes effect.How you deliver your message is up to you, but ensure they receive it by the deadline. Otherwise, they can legally contest your rent increase through the TAL and even have it overturned. Resolving issues about rent controlIn Quebec, renters have a legal right to challenge rent increases they feel are excessive. They have one month to dispute a rent increase after receiving your notice. If they don't respond to you within this period, it's assumed that they agree with your price, which means you can legally enforce it.Suppose you object to your tenant's assertion that your rent is unreasonable. In that case, you can ask for assistance from the TAL to decide on a fair rent increase. You'll need to complete and submit an application to modify the lease within one month of receiving your tenant's notice of refusal to pay the increased rent. Once the TAL has processed your application, they'll ask you to to complete the necessary information regarding the fixing of rent.Our final thoughtsThere's no cap on rent increases in Quebec, but the province does have regulations to protect tenants from undue rent increases. For your rent increase to be legally valid, your tenant must accept it. Tenants can reject a rent fee they believe is unjust within one month of receiving notification by applying with the TAL, which will decide on an appropriate amount. As a landlord, you must also give your tenant proper written notice using a government-approved form before applying your rent increase. The amount of notice required depends on the type of lease.To avoid disputes with tenants over rent, choose a reasonable price that you can justify. Learn more about the TAL’s suggested rent adjustments in 2025 so you’re prepared to adjust rents confidently without tenant conflicts. --- ### Prince Edward Island 2025 Rent Increase Guidelines [Prince Edward Island 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/prince-edward-island/prince-edward-island-rent-increase-2023/) Meta: Find out how Prince Edward Island’s 2025 rent increase guidelines can affect your properties. SingleKey’s experts summarize the changes for landlords to know. Date: January 29, 2025 Author: Mark Gregorski Content: Prince Edward Island’s housing authority, the Island Regulatory and Appeals Commission (IRAC), decides each year what the rent increase guideline will be. If you plan to increase your rents in 2025, understanding the IRAC’s guideline will help you avoid complaints from your tenants and legal trouble.Here’s everything you need to know about PEI’s new rent increase guideline, including the maximum rent amount, how much notice to give to your tenants, and circumstances where you can set a rent price higher than the guideline.2025 updates to Prince Edward Island’s rent increase guidelineThe rent increase guideline in PEI for 2025 is 2.3%. So, if your tenant’s current rent is $1,400 per month, the most you can charge them in 2025 is $1,432.20. Under exceptional circumstances, you can increase the rent by more than 2.3%, but you must receive permission from the Rental Office. Additional rent increases beyond the legal limit are capped at 3%, so the most that you can raise your tenant’s rent is 5.3%, without exceptions.As per the Residential Tenancy Act, only one rent increase is allowed annually for residential units. This means you can implement a rent hike 12 months after:The last legal rent increaseThe start date of the tenancyFor your rent price to be valid, you must give your tenant at least three months' notice before it takes effect using an approved form. This rule applies to both fixed-term and month-to-month leases. The exceptions are weekly tenancies, which require three weeks’ notice. 2025 rent increase exceptionsDepending on your circumstances, you may be able to raise rents above the guideline of 2.3%.To do so, you have to get permission from the Rental Office. The organization will consider several factors when deciding whether to approve your application, including:Increases in your operating expenses and capital expenditures in the last three yearsThe date and amount of the previous rent increaseYour expectation of earning a reasonable return on your investmentWhether the extra rent increase is necessary for you to avoid losing money To start the process, complete and send two forms to the Rental Office: Form 9 – Landlord Application to Request Additional Rent Increase, which you must also give to your tenant within ten days of submitting to the Rental OfficeForm 10 – Landlord Statement of Income and ExpensesAs noted previously, you can only ask for an additional 3% rent increase on top of the 2.3% guideline.How to raise rent in Prince Edward IslandThe following steps explain how to increase rent for PEI residential properties, both for fixed-term and month-to-month leases.Step 1: Determine your new rent priceCalculate your current profit margin and then determine how much you’d have to boost your rent price to maintain it.Next, research the local rental market in your area to figure out the average rate landlords are charging. By doing so, you can set a price that allows you to earn a healthy profit while allowing you to retain your tenant.Step 2: Prepare the notice of rent increaseIn PEI, you must use a government-approved document to inform your tenant that you’re raising their rent. For a standard rent increase, fill out the following form:Form 8 – Tenant Notice of Annual Allowable Rent IncreaseIf you wish to raise the rent higher than the guideline, complete these documents instead: Form 9 – Landlord Application to Request Additional Rent Increase Form 10 – Landlord Statement of Income and Expenses Form 9 should be submitted to your tenant and the Rental Office, while Form 10 should only be given to the Rental Office.Consider adding a note that explains why you’re increasing your rent. You can include details such as rising operating expenses and renovations you’ve done to the rental unit. This could help minimize objections from your tenant.Step 3: Notify your tenant of the rent increaseYou must give your tenant at least three months’ notice before the new rent price takes effect. If your tenant pays rent weekly, provide a minimum of three weeks' notice.To ensure your tenant receives your notice, consider delivering it in person, or sending it by certified mail. Email is also acceptable. Whichever method you choose, follow up to confirm it’s been received.If you fail to notify your tenant in time, your rent increase is considered to be unlawful. As a result, your tenant can apply to the Rental Office to obtain a refund on the extra rent paid.  Resolving issues about rent controlShould there be a dispute between you and your tenant about a rent increase, you can arrange a hearing with the Rental Office. If your tenant refuses to pay the new rent fee, fill out and submit Form 2(B) – Landlord Application to Determine Dispute. This will start the hearing process. Click here to learn how to prepare for a hearing.During the hearing, you’ll have the opportunity to present your case to a Rental Officer who will decide on a resolution in accordance with the Residential Tenancy Act. If you disagree with the Rental Officer's decision, you can make an appeal to the IRAC.Our final thoughtsThe maximum allowable rent increase in PEI for 2025 is 2.3%. You can raise rents once per year, and you must give your tenant at least three month’s notice using the appropriate form. Though the rent increase guideline is capped at 2.3%, you can apply to the Rental Office for an additional increase of up to 3%. In your application, you must demonstrate that the annual rent increase guideline isn’t sufficient to offset your operating costs or capital expenditures.For more details about PEI’s 2025 rent increase guidelines, visit the province’s Rental Office site. --- ### New Brunswick 2025 Rent Increase Guidelines  [New Brunswick 2025 Rent Increase Guidelines ](https://www.singlekey.com/en-ca/near-me/new-brunswick/new-brunswick-rent-increase-2023/) Meta: Get the latest guidelines to increase rent in New Brunswick. Learn how to notify your tenant and how to resolve potential rent increase issues. Date: January 29, 2025 Author: Mark Gregorski Content: Do you own a rental property in New Brunswick and plan to raise your rents in 2025? This guide will cover everything you need to know, from how much you can increase rental fees, how often you can do so, and how to notify your tenants. Learn how tenants can challenge a rent increase if they feel it's unreasonable based on local rental market rates. 2025 updates to New Brunswick’s rent increase guidelines New Brunswick has no rent control legislation. That means you can increase your rent to whatever amount you deem appropriate in 2025.  However, the province has a system that allows tenants to request a phased-in rent increase if it exceeds a certain level. This level is 4.7% for the period beginning July 1, 2024 to June 30, 2025, For the previous 12 month period, the rent increase guideline was 3.6%. Keep in mind that your tenant isn't automatically entitled to this protection. To challenge the rental fee, they must apply with the Residential Tenancies Officer within 60 days of receiving notice of the rent increase. If approved, the Officer will order you to implement the rent increase over two to three years.  The chances of your rent increase being subject to the phase-in policy are higher if: The new rent price is significantly higher than the market rate where your rental is located. You've raised the rent each year during the past few years. You haven't done major renovations to your rental.  The New Brunswick Government website lists rules for how a phased-in rent increase will occur.  In addition to rent caps based on local market rates, there are other regulations that you must follow when raising rents in New Brunswick: You can only increase the price 12 months after a tenancy begins. After that, you're limited to one rent increase every 12 months unless you and your tenant have agreed to different terms in writing. You must provide your tenant with at least six months' written notice before the new rent fee takes effect. The notice must be a standalone document and delivered separately from other documents you give to your tenant. The rent increase rules above apply to both fixed-term leases and periodic leases for residential properties in New Brunswick.  How to raise rent in New Brunswick These steps to implement a rent hike in New Brunswick apply to all types of leases, including those with a fixed term and those that are month-to-month or week-to-week. Step 1: Determine the new rent price While you face fewer rent increase restrictions in New Brunswick than in other provinces, you still want to consider any rate adjustments carefully. The rent fee should allow your rental property to stay profitable while being affordable for renters (tenant turnover can be costly in the long run). Evaluate your operating expenses and be sure to account for any renovations you’ve completed, since you'll need to recoup the money spent on improving your property over time. Next, check out what rent fees other landlords are charging for properties similar to yours. This step is particularly crucial in New Brunswick, because rent increases in the province must be reasonable based on local market rates. If the increase is too excessive, you risk having it overturned or subject to the phase-in policy. Step 2: Prepare the notice of rent increase In New Brunswick, you must inform your tenant of a rent increase in writing before you can implement it. There's no government-mandated form you have to use when preparing the notice, but it must contain the following information: The tenant's name The rental unit's address The current rent amount The rent amount after the increase applies The date when the rate increase applies Your signature (or your agent's signature) and the date when the document was signed It’s also worth including an explanation for the rent increase, as it'll help your tenants understand why you're asking them to pay a higher fee.  Step 3: Notify your tenant of the rent increase In New Brunswick, you give your tenant at least six months’ notice before the new rental rate takes effect. If your tenant doesn’t receive the notice before the six-month deadline expires, they can dispute the rent increase by filing a tenant application for assistance with the Residential Tenancies Tribunal. A tenant can treat a rent increase notice as a lease termination, in which case, the tenancy will end on the day immediately before the new rent fee applies. In this scenario, they must give you one months’ written notice of their decision to move out (one week's notice if they pay rent weekly). Resolving issues about rent control If your tenant refuses to pay the new fee, deems it to be unreasonable, or notes that you failed to give them proper notice, you can request help from the Residential Tenancies Tribunal to reach a solution.  To begin the dispute resolution process, file an application and send it to the Tenant and Landlord Relations Office by email, fax, or in person at a Service New Brunswick office near you. The Residential Tenancies Tribunal will send you a confirmation within one business day of receiving your application. The Tenancies Officer will investigate and attempt to mediate the dispute between you and your tenant. If no resolution is reached, the Officer will make a final judgment that's legally binding for both parties. Our final thoughts Compared to other provinces, New Brunswick's rent control regulations are far more relaxed. However, there are still rules you need to observe to avoid legal repercussions and conflict with tenants.  Tenants can request to have their rent increase phased in if it's higher than 4.7%, which is the current threshold set by the province. Remember to give your tenant at least three months' written notice before increasing their rent fee. And never raise the price more than once every 12 months. For more information about New Brunswick's rent increase guidelines, visit the New Brunswick Government website. --- ### How Pre-Screen Plus Accelerates Tenant Verification [How Pre-Screen Plus Accelerates Tenant Verification](https://www.singlekey.com/en-ca/tenant-report/how-pre-screen-plus-accelerates-tenant-verification/) Meta: Learn how Pre-Screen Plus helps landlords get quick insights on potential tenants to speed up the tenant verification process. Date: November 22, 2024 Author: Mark Gregorski Content: Pre-screening is an effective strategy for narrowing your pool of potential tenants. However, it's a process that can be repetitive, time-consuming, and prone to errors. Applicants must receive, complete, and submit multiple forms, which takes time. The information that they do include on these forms is often self reported, which may be hard to authenticate, increasing the risk that an applicant could be providing false data. There are also concerns about how a tenant’s personal information is stored and handled. Applicants may not feel safe sharing proof of financial status and other sensitive financial details over unsecured methods, like email.   SingleKey's Pre-Screen Plus allows you to avoid these pitfalls. It gives you pre-verified details about rental applicants while ensuring tenant data is safe and secure. As a landlord, that means you get through the screening process faster so you can find your perfect tenant sooner.How Pre-Screen Plus worksHere’s how to use Pre-Screen Plus to verify a potential tenant:Step 1:Log in to your SingleKey account and navigate to the Pre-Screen tab. If you don’t have an account with SingleKey, you can create one here. Step 2:Create a new pre-screening invitation and choose the Pre-Screen Plus option. This option will allow you to customize a list of questions to ask the applicant and verify their credit score, income, and identity. Step 3: Enter details about your rental property and provide the applicant’s email address. You can invite up to five applicants to fill out the pre-screening form, which they will receive through email and complete online. Step 4: Receive the tenant’s verifiable credentials. Once the applicant has submitted their pre-screening form and submitted their verifiable credentials through the MyCertn mobile app, you can view the results in your SingleKey account under the Pre-Screen tab. You’ll get verifiable data on the rental applicant’s full name, date of birth, income, and credit score range. Step 5: Choose your top candidates faster. Quickly sort through top-quality, vetted applicants, which will appear at the top of your list in your SingleKey Pre-Screen dashboard.Difference between the basic and Pre-Screen PlusHere are some of the key differences between our basic pre-screen and Pre-Screen Plus: Basic Pre-ScreenPre-Screen Plus✔ Customizable question✔ Customizable question✔ Invite by email✔ Invite by email✖ Verified credit score✔ Verified credit score✖ Verified income✔ Verified income✖ Verified identity✔ Verified identityWith Pre-Screen Plus, landlords can rest assured that a tenant’s credentials are verifiable. These credentials include:  Personal ID: Certn uses a proprietary solution with a simple selfie, a snapshot of the tenant's ID, and biometric facial recognition to confirm their identity.  Credit: A tenant's credit score is validated through a trusted third party vendor. This check is considered a soft check and does not impact the individual's credit score. Income: Open banking information is reviewed for important insights into a tenant's financial status, including their monthly employment and non-employment income trend.Benefits of Pre-Screen Plus for landlordsCompared to our standard pre-screening offering, with Pre-Screen Plus, you’ll get key details about potential tenants that are already verified by our trusted partners at Certn. There are also many other benefits to using this tool:Fill vacancies fasterWith each applicant pre-verified, you can make faster decisions about who makes the cut for further screening. There's also no need to follow up with applicants for missing details. By finding your ideal tenant sooner, you save time and reduce your vacancy costs. Find the best candidates without a hassleOn your pre-screening dashboard, you can quickly sort through applicants, narrowing your list to your preferences. Verified candidates will appear at the top, so you can focus your time and energy on those who meet your requirements.Access to trusted informationPeople can easily falsify information on their rental applications, especially since it’s self-disclosed. This makes it difficult for landlords to confirm the accuracy of the details provided by the applicant. The Pre-Screen Plus tool helps you avoid the risk of fraud by arming you with verifiable details about potential tenants. Save time, energy, and frustrationConducting pre-screening interviews, manually sorting questionnaires, and hunting down tenants for missing documents isn't the most efficient use of your time as a landlord. Pre-Screen Plus allows you to skip this administrative burden, automating the process from start to finish. As a result, you can free up your schedule to focus on your core rental business activities.Scale your rental businessAs your rental business grows, pre-screening tenants will demand more and more of your time and attention. It'll also become a significant expense. Pre-Screen Plus allows you to automate and standardize this repetitive and often tedious step so you can verify large numbers of applicants—without sacrificing quality or security. The result is lower overhead costs and higher profit margins.Leverage technology to prevent rental fraudManually pre-screening each prospective tenant also increases your chances of becoming a victim of tenant fraud. Pre-Screen Plus gives you an edge in finding your ideal renter while steering clear of potential red flags. Because a tenant’s credentials are verified by Certn, you can be confident knowing the information you receive is reliable, accurate, and up to date.Build trust with applicants by ensuring their privacyAll the information that applicants provide throughout the verification process lives securely in the MyCertn app and is protected by SOC2 and ISO27001 certified security measures. Tenants can review each piece of data before sending it to you, minimizing errors and misunderstandings. Knowing their sensitive data is in safe hands can help your prospective tenants build a strong foundation with you for a future landlord-tenant relationship.Benefits of Pre-Screen Plus for tenantsIn addition to keeping personal data safe, Pre-Screen Plus gives tenants a simple way to share all of their credentials through the MyCertn app with prospective landlords. More benefits include: Centralized and accessible: Finding the right documents to complete a rental application is a breeze. MyCertn stores a tenant’s most important personal details in a centralized place for easy access.Complete control: A tenant can always manage who sees their data and when, easily revoking access to protect their privacy.Better chance of being approved: Applicants who have been verified with Pre-Screen Plus increase their chances of approval by 80%. Verify once, share everywhere: Tenants who are pre-verified using MyCertn can skip repetitive form-filling and use their verifiable credentials on multiple applications.  Our final thoughtsWe’re excited to partner with Certn to bring verifiable pre-screening to property managers and landlords across Canada through Pre-screen Plus and the MyCertn app. Trusted by 20,000 teams, Certn offers the world’s easiest background checks that enable Canadian property managers and landlords to make informed leasing decisions faster and smoother than ever.Now, we’re changing the future of digital trust together by reimagining background checks for the 21st century. By combining cutting-edge technology like biometric facial recognition, open banking insights, and comprehensive ID verification, the new Pre-Screen Plus solution helps landlords efficiently filter out unsuitable applicants before investing significant time and resources. This partnership provides a powerful tool to help you streamline tenant selection while giving tenants complete control over their personal data.To transform your screening process with Pre-Screen Plus, join the waitlist here. --- ### Rent Guarantee for a Year: Official Contest Rules [Rent Guarantee for a Year: Official Contest Rules](https://www.singlekey.com/en-ca/ownerkey/announcements/rent-guarantee-for-a-year-official-contest-rules/) Meta: Get the official terms and conditions for the Rent Guarantee contest and learn how to enter for a chance to get one year free on the program. Date: November 11, 2024 Author: SingleKey Content: Tenants stop paying rent for many reasons. As a landlord, you can’t predict when this will happen. When it does, monthly bills become unmanageable, and the risk of losing a valuable rental property becomes a reality.Protecting landlords against these tenant risks is exactly why we created the Rent Guarantee Program. And for the first time, SingleKey is giving away one year of Rent Guarantee for free!Here’s how you can enter for a chance to get a full year of protection under the program.How to enter the Rent Guarantee giveawayAny Rent Guarantee application that is submitted and approved during the month of November will be entered in our draw to get one year free of Rent Guarantee. Simply follow these steps to enter:Step 1: Log in to SingleKey Log in to your SingleKey account and submit a Rent Guarantee application. Just navigate to the Rent guarantee tab on our platform and click Get started.Step 2: Provide tenant details and documents Enter your tenant and lease information and upload the required documents. These include a credit report and proof of income documents.Step 2: Complete your application Enter code CYBER2024 when submitting your application. Our team will review the provided information and confirm when your application is approved.Our final thoughtsThe draw to get one year free of Rent Guarantee will take place on December 6. Learn more about the Rent Guarantee Program or book a call with our team if you have any questions. Terms and conditions Giveaway Overview This giveaway is for one (1) free rent guarantee policy for existing rent guarantee customers (the “Giveaway”). One winner will receive a reimbursement equal to one year of their rent guarantee policy payments. No additional purchase is necessary beyond existing customer status. Eligibility The Giveaway is open only to legal residents of Canada, excluding residents of Quebec, who are 18 years of age or older and have an active rent guarantee policy in good standing as of the Giveaway start date. Employees, representatives, agents, and affiliates of Single-Key Inc (“SingleKey” or the "Sponsor"), as well as immediate family members of such individuals, are not eligible to participate. Entry Period The Giveaway will begin on October 29, 2024 at 12:00:01 AM Eastern Time (“ET”)  and end on December 5, 2024 at 11:59:59 PM ET (the “Entry Period”). Entries received outside of this period will not be eligible. How to Enter Existing customers are automatically entered into the Giveaway if they have an active rent guarantee policy with SingleKey during the Entry Period. No additional purchase or action is required. Prize One (1) winner will be selected to receive a one-year reimbursement of their Rent Guarantee policy payments. The prize is non-transferable, non-exchangeable, and has no cash value. Winner Selection and Notification One (1) winner will be randomly selected from eligible entries within 5 days following the close of the Entry Period. The selected winner will be contacted via email. If the selected winner does not respond within 48 hours, an alternate winner may be chosen. Skill-Testing Question To claim the prize, the selected winner must correctly answer a mathematical skill-testing question. Failure to answer the question correctly will result in disqualification, and an alternate winner will be selected. General Conditions SingleKey reserves the right to modify, cancel, suspend, or terminate the Giveaway, in whole or in part, at any time and without prior notice, if it believes the Giveaway is compromised by fraud, technical issues, or any other causes beyond its control. SingleKey is not responsible for any entries that are lost, late, incomplete, or misdirected. By participating, entrants agree to abide by and be bound by these Terms and Conditions and the decisions of SingleKey, which are final. Privacy By entering the Giveaway, participants agree to the collection, use, and disclosure of their personal information by SingleKey for the purpose of administering the Giveaway. Personal information will be handled in accordance with SingleKey’s Privacy Policy, which is available at https://www.singlekey.com/en-ca/privacy-policy/. Limitation of Liability By entering, participants release and hold harmless SingleKey, its affiliates, directors, employees, and agents from any and all liability for any injuries, loss, or damage of any kind arising from or in connection with this Giveaway or acceptance or use of the prize. Governing Law These Terms and Conditions are governed by and construed in accordance with the laws of the province of Ontario and the federal laws of Canada applicable therein. --- ### SingleKey Empowers Calgary Residential Rental Association Members As Exclusive Tenant Screening Provider [SingleKey Empowers Calgary Residential Rental Association Members As Exclusive Tenant Screening Provider](https://www.singlekey.com/en-ca/ownerkey/announcements/singlekey-empowers-calgary-residential-rental-association-members-as-exclusive-tenant-screening-provider/) Meta: Learn more about SingleKey's partnership with the Calgary Residential Rental Association as the association's exclusive tenant screening provider. Date: October 28, 2024 Author: SingleKey Content: We recently became the Calgary Residential Rental Association’s exclusive tenant screening provider and are proud to provide CRRA members access to SingleKey's comprehensive tenant screening tools. This will help residential landlords in Calgary gain in-depth tenant insights to make informed leasing decisions.   Comprehensive tenant screening for CRRA membersSingleKey's tenant screening platform simplifies the rental process while minimizing risk. The Tenant Screening Report provides a detailed assessment of potential tenants with credit checks powered by TransUnion and Equifax. The report also offers landlords a summary of a tenant’s complete rental and employment history and includes automated tools, like identity verification and a document fraud check. This comprehensive tenant screening solution helps landlords pinpoint any red flags and evaluate how reliable a rental applicant will be as a renter. SingleKey’s International Credit Check through Nova Credit also allows landlords to access foreign credit history so that they can screen international tenants with confidence.Our final thoughts“Embedded at the core of our services and products is ensuring best practices are followed by all of our customers, including landlords and tenants,” says MacKenzie Wilson, SingleKey’s Director of Customer Engagement. “Inherently in that process is the need for knowledge and education. That’s why we’re thrilled to be the CRRA’s exclusive tenant screening partner, given their long-standing commitment to educating the rental industry. This is a great and complementary fit.”Learn more about how we’re helping landlords screen tenants more effectively. --- ### SingleKey Partners with the Ontario Real Estate Association [SingleKey Partners with the Ontario Real Estate Association](https://www.singlekey.com/en-ca/ownerkey/announcements/singlekey-partners-with-the-ontario-real-estate-association/) Meta: SingleKey’s strategic partnership with OREA brings comprehensive tenant screening and rent guarantee services to the association’s members. Date: October 24, 2024 Author: SingleKey Content: We recently announced a strategic partnership with the Ontario Real Estate Association (OREA) to offer tenant screening and rent guarantee services to the association’s members. This will allow REALTORS® and their investor clients to screen potential tenants more effectively and safeguard their rental investments against tenant risks.Rental income is critical in helping real estate investors pay for their mortgage and property expenses. If tenants don’t pay their rent, these investors could risk losing their property. SingleKey’s Rent Guarantee Program minimizes this risk by providing financial and legal support in case tenants default, damage the rental property, or if they must be evicted. Effective tenant screening tools for OREA membersSingleKey’s platform also offers a suite of tenant screening tools to streamline the rental process, including an in-depth Tenant Screening Report that incorporates credit checks, rental history and employment reference checks, and ID verification. This further mitigates the upfront risk of renting by allowing REALTORS®, landlords, and property managers to find reliable tenants. “Helping homeowners take the risk out of renting is at the heart of SingleKey’s mission,” said Viler Lika, Founder and CEO of SingleKey. “We’re thrilled to be able to extend our established tenant screening and rent guarantee services to OREA’s members so that they can support their clients in renting their properties safely.”Our final thoughtsLearn more about how we’re serving real estate agents and helping to protect their clients’ rental income with tenant screening services, financial backups, and legal support. --- ### Alberta 2025 Rent Increase Guidelines [Alberta 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/alberta/alberta-rent-increase-2023/) Meta: Learn about the rent increase guidelines in Alberta, including how much you can raise rent for your tenants and how much notice you need to give. Date: October 9, 2024 Author: Mark Gregorski Content: Are you an Alberta landlord planning on raising your rent in 2025? If so, you'll want to become familiar with the province's laws surrounding rent increases. Compared to other provinces, Alberta has fewer restrictions on property owners' ability to adjust rent prices. However, there are still rules in place that you must follow to avoid legal trouble and minimize disputes with tenants.In this guide, we'll cover everything you need to know about Alberta's 2025 rent increase guidelines, including how often you can raise your rent, how and when to notify your tenant, and how the province's tenancy laws impact different lease agreements.2025 updates to Alberta rent increase guidelinesUnder Alberta's residential tenancy laws, a landlord can choose how much to raise a tenant’s rent. However, you can only do so if one year has passed since your last rent increase or the start date of the tenancy. In other words, you're limited to one rate increase every 12 months.The rules for periodic tenancies, which have no end date, differ from fixed-term tenancies. Under a fixed-term tenancy, the tenant agrees to rent the unit for a specific time period (e.g., 12 months). If the tenancy is periodic, you must provide your tenant with at least 90 day's notice before the rent increase takes effect. On the other hand, for a fixed-term tenancy, there's no legal requirement for giving your tenant notice.How to raise rent by lease typeBelow are the steps for raising the rent price for an Alberta rental property in 2025, both for fixed-term and periodic leases.Fixed leaseStep 1: Determine your new rent priceStart by figuring out your ideal rent price. The key is choosing a price that allows you to stay profitable while ensuring your unit remains appealing to renters.Your new rent price must cover your operating expenses (plus any renovations), so assess how much those costs have changed throughout the year. You'll also need to evaluate current rent prices of similar properties in your area to ensure your new rent is competitive.Step 2: Prepare the notice of rent increaseIn Alberta, you’re not required to inform your tenant of a rent increase if they’re under a fixed-term lease. However, it’s still worth doing so as a courtesy.Prepare a document that states the rent price for the upcoming year, including when it will take effect. Be sure to include your signature and the date you created the notice. Download Notice of Rent Increase TemplateStep 3: Notify your tenant of the rent increaseA good rule of thumb for a fixed-term lease is to provide your tenant with at least three months’ written notice. How you send your notice to your tenant is up to you. You can use certified mail, email, or hand it to them in person. But whatever method you choose, you must establish proof that you attempted to deliver it using all reasonable means, even if your tenant didn't see it. Otherwise, if the rent increase is disputed, the court will consider the rent increase unlawful.Periodic leaseStep 1: Determine your new rent priceBefore doing any paperwork, decide what your new rent will be. Consider how much you’ve spent over the past year on operating expenses and property improvements (such as a kitchen renovation). If your costs have increased, calculate how much you’d have to raise your rent to maintain your current profit margin. Second, research current rental rates in your area for properties comparable to yours. Are prices rising or falling and by how much? Step 2: Prepare the notice of rent increase for your tenantIn Alberta, you're legally required to inform your tenant of an upcoming rent increase only if the tenancy is periodic. If you’d like to raise your rent for a periodic tenancy, your notice must be in writing and include the following details:The date The effective date of the increaseYour signatureWhile there’s no specific form you have to use to prepare your notice, this Notice of Rent Increase template is a good place to start.While not mandatory, it's wise to explain reasons for the rent increase. You can also break down the rising operating costs and list details about local rent prices for similar units. Being open and transparent will help your tenant understand why you've chosen the rent price you did.Step 3: Notify your tenant of the rent increaseThe amount of notice you must provide to your tenant depends on the type of tenancy:For a month-to-month tenancy, you must give your tenant at least three months' notice before the rent increase takes effect.For a week-to-week tenancy, you must give your tenant at least 12 weeks' notice before the rent increase takes effect.For tenancies of any other periodic term, you must give your tenant at least 90 days' notice before the rent increase takes effect.If your notice doesn't contain the legally required information, it's invalid. As a result, your tenant will have no obligation to pay the increased rent. Even if your tenant pays the new rent fee, they can still apply with the Alberta Court of Justice or Residential Tenancy Dispute Resolution (RTDRS) to obtain a refund. Resolving issues about rent controlIf you're entangled in a dispute about rent prices with your tenant, you can contact the RTDRS to help resolve it. The RTDRS is a tribunal that deals with residential tenancy cases and issues judgments. It's an alternative dispute-resolution system to the Alberta Court that can lead to faster hearings and resolutions. You can apply online through the organization's eFiling service. While there's no cap on how much you can raise your rent in Alberta, a tenant can still file a complaint against you under the Residential Tenancy Act of Alberta (RTA) if they feel your price is excessive. Our final thoughtsJust as it was in 2024, there’s no maximum allowable rent increase in 2025 for residential rental properties in Alberta. As a landlord or property owner, you can raise your rent as much as you deem appropriate. Keep in mind that you want to be fair to your tenant and not increase their rent unreasonably.You must also wait at least one year before increasing your rent price, regardless of whether the tenancy is fixed or periodic. And you can only do so if you submit a written notice to your tenant that contains all the legally required information. Visit the Government of Alberta website to learn more about Alberta's 2025 rent increase guidelines. Also, check out our Alberta rental documents page, where we've compiled every document you need to notify your tenant of changes to their lease agreement, including rent increases. --- ### Enhanced ID Verification: SingleKey Feature Announcement [Enhanced ID Verification: SingleKey Feature Announcement](https://www.singlekey.com/en-ca/enhanced-id-verification-singlekey-feature-announcement/) Date: August 29, 2024 Author: MacKenzie Wilson Content: Our ID verification check securely verifies an applicant's identity by matching their government-issued ID with their selfie and the details provided on their rental application. With a 97% of tenants completing the identity verification step, you can have greater confidence that you're receiving accurate and trustworthy information on applications to your properties. How it worksExplore the video below to find out how the ID verification check makes it easy to authenticate a potential tenant's identity.https://youtu.be/9sDT7-5f32Q?si=D8DPfY9II06ahuAmDuring the rental application, the applicant is asked to provide an image of their government issued photo ID, such as a driver’s license or passport, then take a live selfie. We cover most types of government issued photo ID's across Canada, including: We take the data from the provided ID image and create a clear, summarized overview for you, which we then cross-check with the information on the tenant's rental application. Additionally, we compare the ID image with the tenant's selfie to ensure they are the same person. Five verification checksWe run five verifications, which can result in either a pass or a fail. Here’s a look at the data verifications we perform:Name MatchWe compare if the applicants first name on the ID is consistent with what they provided on the rental application.Date of Birth Match We compare if the applicants date of birth on the ID is consistent with what they provided on the rental application.Valid IDWe verify the authenticity of government IDs by using OCR to extract and compare data, detecting holograms and security features, scanning barcodes, using facial recognition, cross-referencing with databases, employing machine learning algorithms, and sometimes conducting manual human reviews. These combined methods ensure that the ID presented is genuine and not counterfeit.Valid SelfieThe selfie check uses facial recognition and liveness detection to ensure the selfie is real-time, matches facial features, and adjusts for lighting and angles, providing immediate feedback on the match. This process confirms the identity of the person presenting the ID.Selfie matches ID photoWe detect if facial features in the selfie provided and government ID are a match.Our final thoughtsIt's important to take every precaution when it comes to protecting your rental investment. Our ID verification check is just one of the many tenant screening features we've developed to help you make more informed decisions when choosing your next tenant. Learn more about how we're supporting you with the right tools to protect you from tenant fraud. --- ### Document Verification: SingleKey Feature Announcement [Document Verification: SingleKey Feature Announcement](https://www.singlekey.com/en-ca/tenant-report/document-verification-singlekey-feature-announcement/) Date: August 29, 2024 Author: MacKenzie Wilson Content: Sometimes, a prospective tenant’s credit score doesn’t tell the whole story. You might want to give someone a chance, especially if they’ve made a great impression. To ensure they can pay rent on time, you need to validate their financial reliability through their past rent payments and recent pay stubs.With SingleKey’s new AI-powered document verification tool, we automatically scan income documents for signs of editing or fraud. Any issues detected will be highlighted in the 'Uploaded by tenant' section of your Tenant Report, making it easy for you to identify and review any documents of concern by simply clicking into them for the full analysis.Best of all, this tool will be included for free with no additional costs on all Equifax, TransUnion and Dual Reports (Equifax and TransUnion) for a limited time. Explore the video below for a quick walkthrough of the document verification feature, or read on for full product details.https://youtu.be/qkTgxTaTShY?si=eTLvfwy-VKT9ayLLHow SingleKey’s document verification worksThe first three rental documents uploaded by the rental applicant will be scanned and verified by our system. This feature works on standardized documents, like pay stubs and bank statements.Once the documents have been uploaded, they’ll be summarized in a single view. This helps you quickly understand which items haven’t passed our document verification process. During the verification scan, our system extracts the data from the uploaded document and uses AI to see if it matches the information the tenant provided on their rental application. This produces a summary of passes or fails based on several criteria. Document verification criteriaHere's a look at the items we check on each document: Applicant name matchThis detects if the applicant’s name from the rental application is shown in the document.Business name matchWe’ll identify if the business name from the rental application is shown in the document.Income matchThis indicates if the monthly income provided on the rental application matches the monthly income extracted from the uploaded document. Our system will display a pass if the income on the document is higher, or if it's within 10% of the income stated on the application.Expired documentUsing the most recent date found, this checks if the document is over 60 days old.Issues detected by the document verification tool After a series of document fraud analyses, the document verification tool will flag any items that don’t match the information provided by the tenant on their rental application. Here are some of the issues our verification process picks up: Abnormal fonts detectedThis means that the fonts are inconsistent with the rest of the document. This could indicate that the document was previously modified.PDF editor detectedOne of the easiest ways for a document to be altered is by using a PDF editor. Our system will flag this if there are signs that a PDF editor has been used.Inconsistent timestampThe "modified date" of a digital document should match the “created date.”  If they don’t match, there’s a high chance the document has been tampered with.Content type checkThis check fails our verification process if the uploaded PDF is scanned or contains only images. In this case, it's difficult to confirm authenticity, so it's a risk.Our final thoughtsIt’s easy to tamper with rental documents like bank statements and pay stubs. That’s why it’s crucial for landlords to double check that the information provided during the application process is authentic. To assess potential tenants accurately, SingleKey’s document verification feature helps validate all the supporting material that comes with rental applications. To get started with this tool, log in to our platform and start screening your tenants. You can also learn more about how SingleKey helps protect landlords from rental fraud.        --- ### How to Screen International Tenants with SingleKey [How to Screen International Tenants with SingleKey](https://www.singlekey.com/en-ca/screen-international-tenants/how-to-screen-international-tenants-with-singlekey/) Meta: Find out how to run an international credit check to screen international tenants securely with SingleKey's International Tenant Report. Date: May 30, 2024 Author: Mark Gregorski Content: Screening tenants from abroad presents unique challenges for landlords. Getting a credit check and verifying an applicant’s identity, income, and employment can take tremendous effort, as the information may be unavailable or difficult to source.  To overcome these obstacles, landlords can now get an International Tenant Report with SingleKey. In partnership with Nova Credit, this report lets homeowners and property managers access a tenant’s foreign credit history. Here’s how to order an International Tenant Report, what you’ll find in each report, and pro tips to help screen international tenants confidently. Screening with an International Tenant Report The International Tenant Report is a comprehensive view of your potential tenant’s credit score and financial history. Here’s a walkthrough video of the important data you’ll get in each report. Steps to order an International Tenant Report Follow the guide below to order an International Tenant Report from SingleKey. Step 1: Create your account or log in The first step is to log into your SingleKey account. If you don't have an account, you can create one within a few minutes by providing basic information about yourself and your rental property. After signing in, select the "Tenant reports" menu option at the top of the page. Then, click the "Get started" button to begin your International Tenant Report. Step 2: Invite a tenant to complete their rental applicationNext, you must request the potential tenant to complete an application form.Unlike a Tenant Screening Report for an American or Canadian-based applicant, the rental applicant must complete this step on their own. Nova Credit will use the information provided to confirm the applicant's identity and generate their credit report.To begin, click the "Create invite" button. Tenant detailsA new page will appear where you must enter the applicant's name and email. Providing their phone number isn't mandatory, but adding it can enhance the accuracy of the information in the report.If there’s more than one individual in the household who’s applying to rent your property, click the "Add another applicant" button to add additional fields. Next, by checking the applicable boxes, you can request additional information the potential tenant must provide when completing their application. This may include:Proof of income (such as a pay stub or bank statement)Employment references Landlord referencesGovernment-issued ID Once finished, click the “Continue” button, which will take you to the following page.Rental unitIn this section, you can enter your rental property’s address. Click the drop-down toggle in the “Rental unit” field and choose “Add new property.” A new window will appear where you can enter the rental’s address, rent amount, and the date your property is available. Once you’ve provided the required details, click “Add.”If your rental property is already set up in your account, simply select it in this field. You can edit the existing information if needed.Under the rental unit details, you can specify whether the applicant must purchase tenant insurance by checking the “Required” box. You can also sign up to learn more about SingleKey's Rent Guarantee by selecting the "Opt in" box. Once you've finished, click the "Continue" button to go to the checkout page.Step 3: Pay for the report At this step, you can choose whether you or the applicant will cover the cost of the International Credit Check. This is where you can choose "International credit" to indicate that you're ordering an International Credit Check. Use the drop-down menu to select the applicant's country of origin. By default, Nova Credit will be selected as the credit report provider. Next, enter your payment details and check the applicable box to accept the terms and conditions. You can purchase your International Credit Check by using a credit card or Google Pay. Click the "Pay now" button to process your transaction.Step 4: Receive your reportYou must wait for the tenant to complete the rental application form and for Nova Credit to verify their information before receiving the report. The applicant will receive an email that contains a link with instructions to guide them through the process. Once your International Tenant Report is ready, you'll receive an email. To access it, log into your SingleKey account and navigate to the "Tenant reports" page. From here, you can view and download a copy of your report.  Mac's Pro Tip Before you're able to download your International Tenant Report, you must confirm your identity. Upload a picture of yourself and one piece of government-issued identification. Ensure that the name you enter matches what's on your ID. Pro tips for screening international tenantsUse our comprehensive tenant screening checklist and evaluate the following criteria to ensure your tenant screening bases are covered:Examine payment history in a credit reportReviewing an applicant's credit report will help you determine how responsible they are with their money, especially when it comes to paying bills on time. Dig into details like their payment history, the amount of debt they carry, and their overall experience managing credit. The more financially reliable an applicant is, the more likely they are to keep up with their rent payments. Verify IDs and be wary of fraudIdentity fraud is unfortunately a pervasive problem, so it pays to know the signs of forged rental documents. Always confirm an applicant is who they say they are by checking their government-issued ID. Confirm income and employment historyNever take the salary and employment information an applicant provides at face value. Always confirm their earnings by requesting a pay stub or bank statement and verify their employment history by contacting their employer directly. Pay attention to previous landlord referencesA tenant's relationship with past landlords can help you uncover valuable facts about their character and habits, so ensure you chat with the references they provide. It's also good to check current landlord references, but a current landlord may be motivated to give an overly positive account of a troublesome tenant if they want that person to move out.Our final thoughtsOne of the biggest challenges in screening a tenant from another country is accessing their foreign credit history. But with SingleKey's International Tenant Report, you can get trusted information to evaluate rental applicants from across the globe with ease.Explore the International Tenant Report to learn more about the built-in verification tools to help screen international tenants. --- ### A Guide to Rental Property Tax Deductions in New Brunswick [A Guide to Rental Property Tax Deductions in New Brunswick](https://www.singlekey.com/en-ca/near-me/new-brunswick/a-guide-to-rental-property-tax-deductions-in-new-brunswick/) Meta: Learn about tax regulations, reporting protocols, and which costs are deductible expenses to optimize tax deductions for rental properties in New Brunswick. Date: April 28, 2024 Author: SingleKey Content: In New Brunswick, travelers can enjoy a unique mix of recreation and entertainment—from St. John's vibrant port and remarkable reversing rapids to the scenic Fundy National Park of Canada and a variety of arts and cultural festivals.If you're a short-term rental operator in New Brunswick, learn how to file taxes and maximize your deductions.What’s considered a short-term rental?In New Brunswick, a short-term rental (STR) is defined as a property that is leased for a brief period, usually less than a month. Vacation rental properties are typically advertised on VRBO or Airbnb. Familiarize yourself with each provincial government's rules for STRs.When should I report the rental income for my short-term rental?All earnings, including rental income, must be reported to the federal government every year. The deadline for Canadians to file their taxes for the 2023 tax year is April 30, 2024. If you are self-employed, the deadline extends to June 15, 2024—however, payment is due on April 30.Stay informed with the Canada Revenue Agency (CRA) tax filing deadlines:February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income?Skipping income taxes during the fiscal period can lead to legal issues. You are exempt from reporting taxes If you split the mortgage bills with a relative or if your rental expenses outweigh income.How do I report rental income for my short-term rentals?Use the Canada Revenue Agency forms, such as the T776 Form, to track STR earnings and stay vigilant regarding key income tax deductions like professional fees, business expenses, capital expenses, current expenses, and property taxes.Your income tax obligations in Canada hinge on your residency status as well, which is determined by the following factors:Your locationThe duration of your stayTies to Canada––having family residing in Canada or owning propertyIf you left Canada to work abroad temporarily, you are still a Canadian resident for tax purposes. If you need more clarification about your current status, use the CRA's NR73 Form to determine your residency status.Here are detailed instructions on how to complete a T776 Form. To expedite the process, follow these steps.Step 1: Gather the proper formsHaving all the essential documents in order, such as rental period logs, receipts, and financial statements, will help you stay organized and quickly complete your T776 Form.Step 2: Determine if you are earning a rental or business incomeAs a vacation property owner, if you offer minimal services to guests staying in your rental, the federal government will view your earnings as passive income. Operating an active rental business involves providing routine guest services, whether it's a rental unit or residential property.For instance, if you provide regular meals and cleaning services at your vacation property, the federal government will accept your rental activity as a business.When you earn an extra income by collecting money and occasionally cleaning, it is considered passive income.Step 3: Reporting earnings from short-term rentalsCollect the relevant information on your vacation property and download the T776 Form. Fill in the property details and rental income, and begin itemizing all costs associated with the vacation property.Key tax deductions for short-term rentalsYou can deduct capital expenses if you rent out your residential property or rental units to short-term guests and undertake significant renovations on the vacation property. These expenses are incurred during the reporting period for taxable supplies and enhance the value of your home.Other deductible expenses you may be eligible for include:Property taxesInsurance premiumsBusiness expensesRepairs and maintenanceCapital expensesVacation property owners can deduct property taxes when the rental property is being leased.FAQ: Rental property tax deductions in New Brunswick What is the tax rate or Harmonized Sales Tax (HST) rate in New Brunswick? The HST in New Brunswick is 10%. Hosts who are registered for these taxes must give Airbnb their tax ID, so Airbnb refrains from collecting taxes from guests. What are the tax implications for STRs in New Brunswick? Short-term rental income is a taxable income. Vacation property owners must submit a tax return to the government of Canada, namely the CRA. If your primary residence is outside of Canada, there may be more tax implications. Do I need a permit to operate an STR in New Brunswick? New Brunswick may enforce stricter rules with Airbnb and VRBO. The Housing Minister, Jill Green, has stated that they will study how STRs affect the housing market in New Brunswick. Some cities may require a permit to operate an STR and require that the owner live in the principal residence or non-residential property they are renting. Our final thoughtsKeeping track of rental expenses will help you save money during tax season.If you're considering managing a long-term rental or prefer renting your principal residence as an STR, explore our guide to help you determine the best option. --- ### A Guide to Tax Deductions on Vacation Rentals in Nova Scotia [A Guide to Tax Deductions on Vacation Rentals in Nova Scotia](https://www.singlekey.com/en-ca/near-me/nova-scotia/a-guide-to-tax-deductions-on-vacation-rentals-in-nova-scotia/) Meta: Discover tax deductions for vacation rentals in Nova Scotia and learn how to maximize savings with eligible deductions, guided by our rental property experts. Date: April 23, 2024 Author: SingleKey Content: Nova Scotia is a province defined by its maritime allure. Located along Canada's Atlantic coast, it has many gems, including Cape Breton Island––a rugged beauty renowned for its Celtic heritage. Further offshore is Nova Scotia's Sable Island, a remote destination harboring wild horses and diverse wildlife.In Nova Scotia, there's a special place for each kind of traveler. Whether you're renting your primary residence as a vacation rental or thinking about it, it's essential to learn your tax reporting obligations as a vacation homeowner. What’s considered a short-term rental?A short-term rental (STR) is any vacation lodging leased to guests for 30 consecutive nights or less. New rules on short-term rentals will come into effect in the spring of 2024 in Nova Scotia. The tweaks in the rules for short-term rentals, like Airbnbs and VRBO rentals, will increase the registration fees tied to the size of the community. This move aims to curb the number of short-term rentals to nudge properties back into the long-term rental inventory, hopefully easing the housing crunch. Fees may vary from $10 for units in principal residences to $3,600 in Central Halifax, including downtown Halifax. When should I report the rental income for my short-term rental?In Canada, the income tax year kicks off on January 1 and wraps up on December 31, making a full year of rental income. Your income taxes are due by April 30 for the previous year. If you're self-employed, the deadline is June 15, 2024. Below are the deadlines for filing your income taxes to the Canada Revenue Agency (CRA).February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income?In Canada and most other countries, failing to pay taxes on income may result in tax evasion, which can have serious repercussions. Vacation property owners need to report their rental income. However, there are some circumstances where you might be exempt if you can provide valid proof through documentation to the Canadian federal government.If you are cost-sharing with a relative to split the expenses of a mortgage, you may not have to report the income. If your rental expenses outweigh the sum of the rental income, you may not have to report your earnings and can't claim deductions.The good news for those reporting rental income is that deductions can provide a sense of financial security. How do I report rental income for my short-term rentals?The CRA suggests using the T776 Form to report rental earnings. This form is helpful because you will list all of your deductible expenses and it will help determine what you owe and where you will see financial relief.Here are detailed instructions for completing a T776 Form. To help you get started, follow these three steps to accelerate the tax filing process. Step 1: Gather the proper formsEnsuring you have all essential forms, receipts, and financial documentation readily available and have maintained an organized record of operational expenses is vital when starting the tax filing process.Step 2: Determine if you are earning a rental or business incomeAny investment that earns profits with minimal effort is considered a passive income. In the view of the CRA, homeowners leasing vacation rentals usually earn a passive income.Conversely, when you're actively involved in overseeing all rental operations, such as advertising, cleaning, scheduling regular maintenance, and providing on-site meals and routine services, that may fall under a business earning a business income, also known as an active income.Step 3: Reporting earnings from short-term rentalsReport your rental income and all of your deductible expenses on the T776 Form. Having all the essential forms and information will help you accurately report your gains and losses. Capital loss can impact your tax implications, potentially balancing out gains and reducing your tax liability. Certain expenses associated with rental operations may be deductible, such as property management fees, depreciation, cleaning, or maintenance costs.Key tax deductions for short-term rentalsOne of the perks of having an RRSP is that when you put money into it, you may lower the amount of money the government taxes you. For example, if you earn $60,000 and put $5,000 into your RRSP, you will only get taxed for the $55,000. Instead, you pay taxes on the money inside your RRSP when you withdraw it—most people do this when they retire, and the taxes commonly end up being less.The Canadian federal government views some rental expenses as deductible expenses. Current expenses are costs incurred from services that maintain your property's condition, including gutter cleaning, routine cleaning, painting, and seasonal maintenance. It's essential to be organized with all expenses to maximize your income tax deductions. Other deductible expenses you may be eligible for include: Property taxesAdvertisingOffice suppliesInsurance premiumsBusiness expensesRepairs and maintenanceCapital expensesTravel Anyone leasing rental properties may deduct property taxes during the period the rental property was leased.FAQ: Rental property tax deductions in Nova Scotia What expenses are deductible on a rental property in Canada? Each provincial government may have its own nuanced rules, so it’s important to consult a tax professional. Generally, you may deduct the following expenses when reporting your rental income:Property taxes during the period the rental is leasedMaintenance, cleaning, renovation, and repair feesInsurance premiumsBusiness expenses related to the rental Can you deduct expenses on a rental property with no income? In Canada, you generally can’t deduct expenses associated with a rental property if you do not have a rental income. The CRA usually wants you to report an income before allowing deductions to offset that income. What is the lodging tax in Nova Scotia? The Hotel Sales Tax in Nova Scotia is 15%. Airbnb typically collects and remits taxes in many of Canada’s provinces. For a detailed list, see Airbnb’s tax collection policy in Canada.If you own a rental business, you will need to collect and remit these taxes. Our final thoughtsAre you thinking about whether to handle a long-term rental or a short-term stay? Take a peek at our guide to weigh the lower risks linked with temporary stays and the chance for big income tax deductions tied to long-term rental costs. --- ### Your Guide to Rental Property Tax Deductions in Quebec [Your Guide to Rental Property Tax Deductions in Quebec](https://www.singlekey.com/en-ca/near-me/quebec/your-guide-to-rental-property-tax-deductions-in-quebec/) Meta: If you're exploring leasing a vacation property in Quebec, Canada's largest province, there are some rules to understand when filing taxes and claiming deductions. Date: April 23, 2024 Author: SingleKey Content: Quebec, one of Canada's largest provinces, has an inherently distinguished identity shaped by French influences and traditions. From the quaint streets of Old Quebec City to the lively metropolitan Montreal, Quebec provides the perfect escape for tourists. What’s considered a short-term rental?In Quebec, a short-term rental (STR) is any type of rental property, either an entire residential property or part of a primary residence, leased to tourists for fewer than 31 days. When should I report the rental income for my short-term rental?Always jot down all the significant dates for tax filing in Canada to facilitate reporting taxes. Below are the deadlines for filing your income taxes to the Canada Revenue Agency (CRA).February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income?In Quebec, income tax returns must be filed with the CRA every year. Though filing taxes might seem daunting, understanding how it works and staying organized can simplify the process while ensuring compliance with Canada's federal government. Renting out your STR can have significant tax implications.How do I report rental income for my short-term rentals?Individuals who earn an income from renting out property are required to submit an economic statement detailing their rental income and eligible expenses incurred during the period. This statement should encompass the income and expenses from January 1 to December 31 of the tax year.The lodging tax rate may vary in different regions. Online platforms, such as Airbnb and VRBO, may be responsible for collecting and remitting taxes. Airbnb collects a lodging tax in Quebec's 22 tourist regions. The Canadian federal government advises rental property owners to use the T776 Form to report their rental income and related expenses. This comprehensive guide, included in Quebec's income tax package, serves as a valuable resource for understanding the tax filing process.Follow these steps to help you get started and streamline the tax reporting experience.Step 1: Gather the proper formsIt is fundamental to have all of the necessary forms on hand and maintain thorough records to back up your purchases and operational costs. This includes keeping receipts, invoices, financial statements, and documentation detailing significant improvements to your home, essentially adding value to your property.Step 2: Determine if you are earning a rental or business incomeMost of the time, leasing out an STR is categorized as earning a passive income. It's an investment that earns profits with minimal effort on the homeowner's part.For instance, when homeowners rent out a property solely for vacation purposes, providing only basic amenities that include heating, electricity, parking, and on-site laundry facilities, the vacation property owner is earning a passive income.When you go the extra mile by offering additional services, like cleaning, maintenance, security, meals, and transportation, or if you are actively involved in the operations of multiple residential properties and handle the advertising and upkeep yourself, your position elevates to more than owning and leasing an STR. Most provincial governments may consider active involvement in rental operations as self-employment that earns a business income. Step 3: Reporting earnings from short-term rentalsUsing a straightforward T776 Form, you can easily complete sections for gross rent, rental expenses, and capital cost allowance (CCA). This simple step will help you accurately determine your rental income and loss, ensuring you stay on top of your financial obligations.The three types of losses are rental, business, and capital loss, each with its own tax implications. Capital loss is applied against gains and is categorized as a financial loss when the value of an investment decreases less than its original value.Key tax deductions for short-term rentalsIf you invest in your property by revamping or adding a significant update that increases the value of your home, those count as capital expenses. The Canadian federal government will view those costs as deductible expenses. Current expenses are costs incurred from services that maintain your property's condition, such as pool cleaning or adding a fresh coat of paint to an interior wall. It's essential to keep an accurate log of these receipts to maximize your income tax deductions. Other deductible expenses you may be eligible for are property taxes.You may deduct property taxes during the period you leased your rental property. FAQ: Rental property tax deductions in Quebec Is there a list of deductible expenses for vacation rental in Quebec? If you are filing taxes for the first time, seek the guidance of a tax professional specializing in rental income tax deductions. Here is a list of eligible expenses you may be able to deduct: Insurance premiumsAdvertising feesSalaries, wages for property managersUtilitiesTravel costsProperty taxes How do I claim renovations on a rental property in Canada? Significant renovations may count as capital expenses. Keep a record of your financial statements associated with rental fees and renovations to claim on your T776 Form.  What is not considered a rental income? If you earn a rental income that is below the fair market value in Quebec or is a cost-sharing arrangement, you do not have to report those earnings and can’t claim deductions. For instance, if your rental expenses are above the rental income, you should not report your income. If you are sharing the rent with a roommate or child to supplement the upkeep expenses of your property, it does not count as rental income. Our final thoughtsAre you considering whether to manage a long-term rental or short-term accommodation? Review our guide to explore the reduced risks associated with temporary lodging and the potential for substantial income tax deductions related to long-term rental operating expenses. --- ### Filing Rental Property Taxes in Saskatchewan [Filing Rental Property Taxes in Saskatchewan](https://www.singlekey.com/en-ca/near-me/saskatchewan/filing-rental-property-taxes-in-saskatchewan/) Meta: Get all the tax tips for reporting earnings on your vacation rental, maximizing all your eligible deductions, and complying with regional regulations in Saskatchewan. Date: April 23, 2024 Author: SingleKey Content: Saskatchewan is a province brimming with natural marvels. Its vast wheat fields, buzzing cities, and welcoming towns interweave to create a distinctive blend of rural charm and colorful city life.What's considered a short-term rental?Short-term rentals (STR) are any vacation homes leased for fewer than 30 days. Most vacation rental owners use Airbnb or VRBO as an online marketplace. In Saskatoon, Saskatchewan, starting January 31, 2024, people can only get new licenses to rent out places for short periods if it's their primary residence. This new and potentially temporary regulation ensures there is enough long-term housing available. Check with your local municipalities to ensure you are complying with local laws. When should I report the rental income for my short-term rental?Rental property owners must report all earnings on their income tax return by April 30, 2024, while self-employed taxes are due by June 15, 2024.Mark your calendar with the following deadline for filing taxes:February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.When you have a RRSP, those funds will not be taxed.Do I always need to report my rental income?Canada's federal government requires anyone operating a vacation property to report their income to the Canada Revenue Agency (CRA).Any income earned below the fair market value does not need to be reported, and you can't claim any deductible expenses on that sum.If you are splitting the cost of rent with a close relative, like a sibling, child, or parent, or your rental expenses surpass the sum of your rental income, you don't have to report those earnings.How do I report rental income for my short-term rentals?Canada's federal government encourages vacation rental property owners to use a T766 Form to declare expenses linked to their rental. Saskatchewan's income tax package is a comprehensive guide that will help you file your taxes. If you are self-employed and overseeing all operations for your vacation rental, you must collect the 5% lodging tax from guests. To accelerate the process, follow our simple step-by-step guide to get the ball rolling.Step 1: Gather the proper formsOrganizing your operating expenses and financial statements will make tax filing season feel like a walk in the park. Begin by gathering all your receipts, dates, income, and costs from the start of each year.Step 2: Determine if you are earning a rental or business incomeIt's essential to differentiate between active and passive income derived from rental properties. This distinction carries tax implications. To optimize deductions and present your annual earnings accurately, here are some considerations to help you determine if you are earning a passive or active income.If you're a vacation property owner merely offering basic lodging amenities such as heating, electricity, parking, and laundry facilities, your income will typically fall under the passive earnings category.However, those routinely committed to providing additional services like cleaning, security, or meals operate a full-service business. Step 3: Reporting earnings from short-term rentalsThe Canada Revenue Agency determines the amount of gains and losses to include in your annual taxes. They set the inclusion rate annually, usually at half for the year. Capital losses can be claimed as expenses, but the inclusion rate determines the deductible amount. Here are detailed instructions for completing a T776 Form.Key tax deductions for short-term rentalsCertain capital expenses are deductible, like home renovations that enhance the property's value.  Additionally, there are other significant deductions for rental expenses that you might be eligible for, including:AdvertisingProperty insuranceInterest and bank chargesOffice expensesProfessional feesManagement feesMaintenance and repairsProperty taxesTravel expensesUtilitiesMotor vehicle expensesProperty management feesApplicable soft costsFAQ: Rental property tax deductions in Saskatchewan Can you write off renovations on a rental property in Canada? In Canada, you can deduct the cost of repairs, including the labor involved. These deductions are allowed for current expenses, meaning they are necessary for maintaining the property in its original condition. Can I write off maintenance for my vacation property? In many scenarios, you can write off costs to maintain or update your property. Some eligible expenses may include painting your walls, installing a new roof, or updating windows. Is rent deductible in Canada? In some Canadian provinces, tenants can deduct rent payments as an expense if they are self-employed.  Our final thoughtsIf you're debating whether to turn your place into a long-term or short-term rental, weighing the pros and cons of each is essential. Those leaning towards the long haul will appreciate our rental resources to support them throughout the journey. --- ### Your Guide to Short-Term Rental Taxes in Manitoba [Your Guide to Short-Term Rental Taxes in Manitoba](https://www.singlekey.com/en-ca/near-me/manitoba/your-guide-to-short-term-rental-taxes-in-manitoba/) Meta: Learn how to capitalize on deductible expenses on vacation rentals in Manitoba while adhering to Canada's government regulations and region-specific rules. Date: April 19, 2024 Author: SingleKey Content: Manitoba is a province defined by its lakes, expansive prairies, and dense forests. This central province attracts nature enthusiasts and tourists seeking the lively streets of Winnipeg, its capital. Our guide clarifies whether you're operating a rental business or earning passive income and explains how to maximize your rental property's tax benefits.What’s considered a short-term rental in Manitoba?In Manitoba, a short-term rental typically refers to renting out a residential unit or part of a primary residence for fewer than 30 consecutive nights. Each region's regulations may vary. For example, all short-term rentals in Winnipeg are limited to 29 consecutive nights. Furthermore, accommodation taxes and rules may differ across cities. For example, Winnipeg's vacation property owners must obtain a permit. Additional restrictions apply to anyone owning a short-term rental property after February 23, 2023.When should I report the rental income for my short-term rental?Stay informed with the Canada Revenue Agency (CRA) tax filing deadlines:February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income?Income generated from your residential property or any type of rental property is subject to taxation by the CRA. You do not have to report your income, nor should you claim deductions if you are renting below the fair market rate.If you are cost-sharing with a relative, or your rental expenses are always more than your rental income, you don't have to report your income.How do I report rental income for my short-term rentals?Canada's federal government suggests that vacation rental property owners use a T766 Form to claim expenses related to their rental. Read this complete guide for Manitoba's income tax package and follow these steps to file your taxes effortlessly.Step 1: Gather the proper formsGetting all your operating expenses and financial statements sorted will make filing taxes a breeze. Start collecting all your receipts, dates, income, and expenses at the beginning of each year.Step 2: Determine if you are earning a rental or business incomeDistinguishing between active and passive income from rental properties is vital for maximizing deductions and accurately showing your annual earnings.Vacation property owners who rent out their property and offer only the bare minimum, such as lodging with amenities like heating, electricity, parking, and laundry facilities, fall under the passive income category.However, if they take additional steps by offering services like cleaning, security, or even meals, you are operating a full-fledged business. This approach can have significant implications for tax purposes. Step 3: Reporting earnings from short-term rentalsYou can also claim all your rental expenses when you report your earnings on your T776 Statement. The federal government in Canada, through the Canada Revenue Agency, decides how much gain and loss you have to include in your taxes each year. They set the inclusion rate annually, which is generally half for the year. If your property increases in value (appreciation), that's a capital gain. And if it decreases in value (depreciation), that's a capital loss.While capital losses can be claimed as expenses, the inclusion rate decides how much of that loss is deductible. Here are detailed instructions on how to complete a T776 Form.Key tax deductions for short-term rentalsWhen tackling your personal tax return for residential properties, it's vital to grasp the difference between current expenses and capital expenditures.Current expenses cover ongoing maintenance tasks like repairs to uphold your property's condition, while capital expenditures involve investments aimed at enhancing the property's value. Capital expenses contribute to your home's appreciation, whereas current expenses sustain its upkeep.While individual homeowners might not capitalize on landscaping and exterior expenses, managing a vacation property allows you to invest in features like an irrigation system, a new driveway, or professional landscapers, which can be claimed as capital expenditures.FAQ: Rental property tax deductions in Manitoba Which fees are tax deductible on a rental property in Manitoba? Certain fees, such as professional fees, are deductible in Manitoba. Professional fees can include office expenses––anything you use in your business to facilitate the rental process.Other eligible deductible expenses may include: Principal residence property taxesTravel expenses Property management expensesAdvertising expenses Capital losses on your primary residenceSoft costs What is the Retail Sales Tax (RST) that online marketplaces charge in Canada? Each provincial government has its own RST. Travelers who reserve a short-term rental on Airbnb in Manitoba will pay a 7% RST for stays lasting 30 nights or less.At VRBO, if the property owner is registered with the CRA and has given VRBO their GST identification number, the platform will send the GST collected on rent and owner fees to the owner for remittance to the CRA. Meanwhile, VRBO will handle the GST collected on its service fee, directly remitting it to the CRA.When the property owner isn’t registered with the CRA or hasn’t provided their GST ID, VRBO will collect and remit the GST on rental income taxes. What deductions can I claim for Airbnb? A vacation property owner can claim the following costs as deductible expenses with Airbnb: Capital loss (depreciation)FurnitureCleaning/maintenance feesMarketing and advertising expensesHome office deductions and other business expensesMortgage interest, insurance premiums, and property taxes. Our final thoughtsIf you're wondering whether you want to be actively involved in a long-term rental or have minimal involvement with vacation rentals, review our guide on how to determine what's right for you.A short-term rental income on your residential units or primary residence can be an ideal extra income. We advise all new-to-leasing STR owners to consult a professional on maximizing their rental expenses. --- ### Rental Property Tax Deductions in British Columbia [Rental Property Tax Deductions in British Columbia](https://www.singlekey.com/en-ca/near-me/british-columbia/rental-property-tax-deductions-in-british-columbia/) Meta: Explore deductible expenses your short-term rental may be eligible for in British Columbia, Canada's province defined by stunning coastlines and national parks. Date: April 19, 2024 Author: SingleKey Content: British Columbia offers a mix of urban appeal, nature, and wildlife that will leave a mark on every type of tourist. If you operate one or several vacation rental properties in BC, learning how to capitalize on tax deductions is essential.What's considered a short-term rental?In the stunning landscapes of British Columbia, short-term rentals (STR) offer bespoke lodging experiences. For stays of fewer than 90 consecutive days, guests indulge in the charm of residential properties or certain secondary units.Typically situated in residential or resort locales, these rental properties mainly cater to tourists seeking temporary accommodation.New legislation in British Columbia, starting May 1, 2024, will restrict STRs to primary residences or accessory dwellings––any separate main, single-family home, duplex, or other residential unit.When should I report the rental income for my short-term rental?Rental property owners should report all earnings on their income tax return by April 30, 2024. Self-employed taxes in Canada are due June 15, 2024.Here are the deadlines for filing taxes:February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.When you have a RRSP, those funds will not be taxed. Do I always need to report my rental income?All STR owners must report their rental income. Federal government taxes are collected by the Canada Revenue Agency (CRA).You must report your earnings if you decide to use online platforms like Airbnb and VRBO. Airbnb shares your income with the CRA.How do I report rental income for my short-term rentals?The Canadian federal government recommends using a T776 Form to report rental income on a short-term rental property to the CRA. There are two primary taxes for hotels and online marketplaces, such as Airbnb and VRBO. One is called the PST, and the other is the MRDT. The MRDT is 3% in British Columbia. There is also a special tax for the city of Vancouver, BC, called the Additional Major Events MRDT. This tax is temporary and helps the city when hosting big events.You may need to register, depending on the provincial government's rules, to report these taxes properly. For example, in Vancouver, all STR property owners must be registered.To report your taxes efficiently and maximize your rental property deductible expenses, follow these steps.Step 1: Gather the proper formsKeeping a detailed record of all your rental activity, including rental periods, taxes collected, cleaning, maintenance, and service, will help you report your taxes. Step 2: Determine if you are earning a rental or business incomeMany homeowners renting out temporary lodging are typically not classified as self-employed by official government standards. A self-employed host for an STR is an individual who owns or manages property and actively participates in the short-term rental process, from advertising to cleaning and maintenance to offering other special services. If you are filing as self-employed, set aside 20% to 30% of your rental income. You can expect to pay a Federal and Provincial Sales tax (PST). The general PST in BC is 7%.Step 3: Reporting earnings from short-term rentalsThough you must report your earnings on your personal tax return, you may be eligible for tax deductions. A T776 Statement will help you determine valid rental expenses and guide you on how much you can save. Here are detailed instructions on how to complete a T776 Form.Key tax deductions for short-term rentalsSome capital expenses can be deducted, such as updates to the home that will add value to the property. Other key deductions on rental expenses that you may qualify for include: AdvertisingProperty InsuranceInterest and bank chargesOffice expensesProfessional feesManagement feesMaintenance and repairsProperty taxesTravel expensesUtilitiesMotor vehicle expensesProperty management feesApplicable soft costsSpeaking with a real estate professional will help you understand your tax liability and which deductions you can maximize. FAQ: Rental property tax deductions in British Columbia How can I maximize my deductions on my British Columbia rental income? If you are self-employed, you can deduct certain business expenses used to operate your rental. You may also be able to deduct property taxes from your primary residence and certain current and capital expenses.  Are there any short-term rental restrictions in British Columbia? Each provincial government has its own rules. Beginning May 1, 2024, British Columbia will limit STRs to primary residences or residential units.  Can you deduct maintenance fees, like painting? Painting, pressure washing, or other maintenance costs count as current expenses and can be deducted as such.  Our final thoughtsIf you're a property owner who is deliberating whether to rent your home as a long-term or short-term rental, learn the pros and cons of each and find out what's right for you. Property owners interested in renting for the long haul will find our collection of rental documents helpful in staying organized throughout the process.  --- ### A Guide on Rental Property Tax Deductions in Ontario [A Guide on Rental Property Tax Deductions in Ontario](https://www.singlekey.com/en-ca/near-me/ontario/a-guide-on-rental-property-tax-deductions-in-ontario/) Meta: In the world of tax deductions, learn how to maximize your deductions efficiently on your short-term rental property while complying with Ontario's laws. Date: April 19, 2024 Author: SingleKey Content: Ontario offers more than a stable financial prowess. It's a province of vast forests and provincial parks, and one of the most remarkable features is the renowned Niagara Falls.For those interested in renting their vacation property in Ontario, we've provided a tax guide to help you maximize your deductible expenses on your rental revenue while complying with Canada's special rules.What's considered a short-term rental?In Ontario, any rental property, including a residential property, apartment building unit, or condominium unit, rented for less than 30 consecutive days is considered a short-term rental (STR). Each Canadian city may have varying rules. For instance, in Toronto, any accommodation rented for a period of 28 days or fewer is considered an STR.When should I report the rental income for my short-term rental?Rental property owners in Canada should report all earnings on their income tax return by April 30, 2024. Self-employed taxes in Canada are due June 15, 2024.A real estate or rental property owner is generally not categorized as self-employed because they often aren't actively involved in business activities related to the rental home. A rental income is usually generated without much involvement from the rental property owner.Property management is considered a business if you are a real estate agent who actively manages an STR by advertising, traveling to the property, and scheduling repairs and maintenance.In Canada, some important dates for filing your taxes include: February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income?Any source of income generated from renting out your home, rental unit, or property, whether the lodging is brief or long-term, is taxable. Just like any other source of income, you must report it to the federal government on your personal income tax return. But don't fret! By reporting this income, you may become eligible for associated deductible expenses.The bottom line is that if you rent out a room in your primary residence or an entire property, you must report your earnings to the Canada Revenue Agency (CRA).How do I report rental income for my short-term rentals?The Canadian federal government recommends using a T776 Form to report rental income on a real estate rental to the CRA.When people book places to stay in Canada using Airbnb, they must pay extra taxes. These taxes can be between 5% and 15% of the total cost of the stay, including any cleaning fees.However, if someone stays for over a month, they don't have to pay these taxes. Airbnb is registered with the Canadian government for taxes, and they have a special number for it.Anyone who needs this number for tax reasons, like getting a tax credit for their stay, can use it. If someone renting out their place on Airbnb isn't registered for taxes, they don't have to worry about collecting or paying taxes themselves. Airbnb handles collecting and remitting taxes because the law requires it.You must report all taxes and cleaning fees if you oversee temporary lodging and don't use online marketplaces like Airbnb or VRBO. Airbnb isn't obligated to collect taxes for hosts who are already registered for taxes under the law.If you are actively involved in managing your short-term rental property, you may be eligible for additional deductible expenses. Follow these steps to report your taxes efficiently and maximize your rental property tax deductions.Step 1: Gather the proper formsKeep all receipts and documentation related to your rental activity organized, including operating expenses. That way, when the tax deadline nears, you can report your taxes effortlessly. If you earn an active business income, ensure you have all financial statements, like your annual property taxes and pertinent rental costs.Step 2: Determine if you are earning a rental or business incomeWith business income, you're actively involved in the day-to-day operations, making things happen. Passive earning is the type of rental income you earn from renting a STR, letting the dividends come in. It's money earned with minimal effort.Step 3: Reporting earnings from short-term rentalsIn addition to reporting earnings on your personal tax return, you also report your income tax deductions. Using a T776 Statement will help you decipher your rental expenses and give you an idea of how much you can deduct and save.Key tax deductions for short-term rentalsThe biggest benefit of tracking all of your expenses, including current and capital expenses, is the key deductions you may be eligible to capitalize on.If you are renting an area in a principal residence or an entire vacation property home, it's essential to understand the interaction between Capital Cost Allowance and the T776 form.The T776 form requires itemizing depreciable assets, including buildings, appliances, and furniture, to determine eligibility for CCA deductions.Accurate reporting on the T776 form is essential to comply with tax regulations and optimize financial outcomes. As a part of the operating expenses, some homeowners who rent in Canada may qualify for deductions on their property taxes.Here are some rental expenses you can potentially deduct when reporting your short-term rental income:AdvertisingProperty insuranceInterest and bank chargesOffice expensesProfessional feesManagement feesMaintenance and repairsProperty taxesTravel expensesUtilitiesMotor vehicle expensesProperty management feesApplicable soft costsOther eligible expenses include capital expenses, which are costs used to renovate and ultimately significantly add value to the home. In addition to capital expenses, you can deduct current expenses used to maintain the home's current condition.When opting to lease your vacation home for short stays, you may need to sign up for a Goods and Services Tax (GST) and a Harmonized Sales Tax (HST).Meeting higher rental income thresholds may qualify you for deductions on these taxes.Consulting with a tax professional can help you determine your eligible deductions.FAQ: Rental property tax deductions in Ontario, Canada How can Ontario vacation property owners save on taxes on their rental income? By deducting expenses, you can save on taxes. Your Capital Cost Allowance is the rate at which businesses can deduct the cost of depreciable assets from their taxable income. You may also qualify for additional deductions, such as travel expenses, some personal expenses, soft costs, and other capital expenditures. It’s crucial to keep all financial statements in order so that when it’s time to report your taxes with the Canada Revenue Agency, you can capitalize on deductible expenses.Speaking with a tax professional will help ensure nothing falls through the cracks. As a bonus, you can deduct accounting fees for costs related to your business. Accounting fees include basic bookkeeping. Each provincial government may have different rules.To estimate how much taxes you owe or refunds you owe, try the Turbo Tax Quebec income tax calculator and list your expenses, including your annual income and capital gains and losses. How long are short-term rental periods in Ontario? The rental periods range from fewer than 30 to 28 days. If your guests or tenants rent your temporary accommodations for monthly periods, your apartment building units or residential property is not considered an STR—it is considered a long-term rental. How is Airbnb income taxed in Ontario? Airbnb rental income is subject to the GST or HST for rentals fewer than 30 consecutive days, and the rent charged is more than $20/day. Our final thoughtsOverseeing vacation rentals can come with many benefits. These include earning a lucrative passive income while enjoying the property when it’s not occupied.Consult our guide, offering professional insights when deciding between managing a long-term rental or short-term accommodation. Explore the reduced risks associated with temporary lodging and the potential for significant tax deductions from long-term rental operating expenses. --- ### A Property Owner's Guide to Tax Deductions in Alberta [A Property Owner's Guide to Tax Deductions in Alberta](https://www.singlekey.com/en-ca/near-me/alberta/a-property-owners-guide-to-tax-deductions-in-alberta/) Meta: As an investment property owner in Alberta, discover how optimizing your deductible expenses can maximize your savings when tax season nears. Date: April 18, 2024 Author: SingleKey Content: Alberta is home to the picturesque resort town of Banff nestled in the Rocky Mountains, and thriving metropolises like Calgary, Edmonton, Red Deer, and Lethbridge.Each year, Alberta attracts droves of people to tour its province for its beauty and culture and because it's a haven for tourists and residents alike. In this article, we'll dive into how property owners can report taxes, whether you use an online marketplace or act as a property manager for your short-term rental (STR) property. What’s considered a short-term rental?In Alberta, a short-term rental is defined as any dwelling where renters occupy the space for less than a 30-day rental period. Nuances may vary across municipalities. Many property owners list their STRs as a as a weekend escape on Airbnb or VRBO, while some choose to advertise independently. Rooms in personal residences, condominium units, or residential homes can all fall under rental vacation homes.When should I report the rental income for my short-term rental?It's essential to mark your calendar for all the key dates to file taxes in Canada to expedite your tax return. Here are the following deadlines to file your income taxes:February 29, 2024Retirement Savings Plan (RRSP)Pool Registered Pensions (PRPP)April 30, 2024Deadline to file your taxes for the 2023 tax year.June 15, 2024Deadline for married or common-law partners who are self-employed.Do I always need to report my rental income? Earnings from your rental property are considered taxable income, so yes, you should report your rental income to the Canada Revenue Agency. Learn how to maximize your deductions for both passive or active incomes. How do I report rental income for my short-term rentals?Anyone earning money by renting out real estate or other property must file a statement that shows your rental income and what you spent on eligible expenses related to renting out that property.This statement needs to cover your income and rental expenses from January 1 to December 31.The Canadian federal government recommends that rental property owners use a form called the T776, which will help them figure out rental income and expenses related to their rental. Read this complete guide for Alberta's income tax package and follow these steps to file your taxes effortlessly.Step 1: Gather the proper formsKeep detailed records supporting your purchases and operating expenses, including receipts, invoices, financial statements, basic services, and other relevant documentation that has enhanced your property.Step 2: Determine if you are earning a rental or business incomeDifferentiating between active and passive income earned from rental property is essential to claiming deductions and accurately reflecting your annual income. When homeowners have a property they rent as a vacation rental and only provide the basics, like a place to live with heating, electricity, parking, and maybe laundry facilities, they are likely only earning a passive rental income. But, if they go above and beyond and offer extras like cleaning, security, or even meals, it can qualify as running a business instead of just renting out your property, which would count as an active income for business owners.Step 3: Reporting earnings from short-term rentalsUsing a T776 Form, complete sections for gross rent, rental expenses, and CCA. This step will help you determine your rental income and loss. The three losses are rental, business, and capital loss. Capital loss is applied against gains and is categorized as a financial loss when the value of an investment decreases less than its original value. The CRA sets a rate annually for how much capital loss or gains you can report. Key tax deductions for short-term rentalsWhen filing your individual or personal tax return for residential properties, it's essential to understand the distinction between current expenses and capital expenditures. Current expenses cover maintenance costs like repairs to keep your property in good condition, while capital expenditures involve improving residential properties to boost their worth.Basically, capital expenses will increase your home's value, and current expenses will fund the work needed to preserve its condition.One way to increase your home's value is to revamp its exterior. Curb appeal is a significant factor in increasing your home's value and enticing renters and buyers. While individual homeowners may not capitalize on landscaping costs, if you manage a vacation property, install an irrigation system, and hire a landscape designer, those costs are considered capital expenses.You can deduct eligible capital expenses over several years rather than all at once through a capital cost allowance. This includes expenses related to the purchase price and renovations.To calculate the purchase price into the CCA, you must define what portion of the purchase price qualifies as a depreciable asset—an asset that decreases in value due to wear and tear over time—for tax purposes.Additionally, property taxes paid on rental properties or principal residences available for rent are deductible. Maximizing rental property tax deductions, such as property taxes, soft costs, and other eligible expenses mentioned in financial statements, can significantly lower your tax liability.You can optimize your deductions and ensure compliance with business deduction rules by accurately reporting rental revenue and associated expenses, including any extra income from vacation properties.FAQ: Rental property tax deductions in Alberta, Canada Which fees are deductible on a rental property in Canada? Some of the costs you may be able to deduct are advertising, office expenses, legal and accounting fees, insurance premiums, property management, property taxes, travel expenses, utilities, and other expenses related to managing and maintaining your rental unit, home, or primary residence where you rent a room. Can you claim property taxes on a rental property in Canada? In some provinces, you can. However, the finance minister will prohibit specific tax deductions and limit the use of Airbnb in some regions beginning in May 2024. For example, British Columbia’s STRs will be regulated. Check with provincial government updates.Every region may have varying rules. Most of the time, you can deduct soft costs and other deductible expenses while actively overseeing the rental. It’s ideal to consult a tax professional regarding maximizing your deductions on your short-term rental property while complying with the law. How can I reduce my tax liability in Alberta? Various strategies can help to reduce your tax liability. Maximizing contributions to a Registered Retirement Savings Plan can lower taxable income. Ensure you claim all eligible expenses, like travel expenses, and take advantage of a tax-free savings account. You may be able to deduct the Alberta 4% Sales Tax or tourism levy collected by the property owner; however, some restrictions may apply. Our final thoughtsIf you're determining whether you want to manage a long-term rental or short-term accommodation, review our guide. Discover the minimized risks with temporary accommodation and the potentially significant income tax deductions with long-term rental operating expenses.Earning a short-term rental income on your residential units or personal residences can be an ideal source of passive income. Consult with a tax professional to maximize your deductions.If you're still on the fence about running a STR or a longer-term rental, check out our guide on determining the pros and cons of each rental operation.  --- ### Does My Tenant Qualify for the Rent Guarantee Program? [Does My Tenant Qualify for the Rent Guarantee Program?](https://www.singlekey.com/en-ca/rent-guarantee/does-my-tenant-qualify-for-the-rent-guarantee-program/) Date: November 28, 2023 Author: SingleKey Content: New Tenants A "New Tenant" is any tenant who has lived in a unit for eleven (11) months or less. If a landlord has a "New Tenant" moving into their unit, the landlord needs to collect and submit the following documents to SingleKey so the tenant can be approved before the landlord can enroll them in the Rent Guarantee program: Equifax or TransUnion credit report from tenants on the lease (including any co-signers or guarantors). Note that we do not accept credit reports from Credit Karma or Borrowell. Proof of income from at least one tenant (this can include a recent pay stubs, T4 statement, or an employment letter) A member of the SingleKey team will then review the documents to see if the tenant meets the criteria for approval. For new tenants to qualify for the Rent Guarantee program, they must meet the following approval criteria: At least one member of the household must be employed, In the last three (3) years, there have been no judgements, eviction orders, or bankruptcies showing on the tenants credit report, and; The amount of rent cannot exceed 45% of the tenant(s) gross household income. (ie: if the rent is $2000 per month, the tenants must make a minimum of $4500 per month in gross income). Existing/mid-lease tenants An "Existing or Mid-Lease Tenant" is any tenant who has rented the landlord's unit for 12 months or longer. To qualify an "Existing Tenant" for the Rent Guarantee program, SingleKey only requires the following documents: Copy of a legal lease agreement signed between the landlord and tenant Evidence that the tenant has paid rent for the last twelve (12) months and is not behind on rent payments. This includes receipts, bank statements, e-transfer records, etc. We do NOT require a credit check or proof of income from tenants who have lived in the unit for twelve (12) months or longer. After Approval If your tenant is approved for the Rent Guarantee program, the next steps to complete your sign up are the following: Sign and submit the Tenant Service Agreement (TSA) Upload a copy of the signed lease agreement (signed by both parties) As soon as the first Rent Guarantee payment is collected, the Rent Guarantee program is officially activated and the protection has begun! --- ### British Columbia Rental Agreements & Documents Every Landlord Needs [British Columbia Rental Agreements & Documents Every Landlord Needs](https://www.singlekey.com/en-ca/near-me/british-columbia/british-columbia-rental-agreements-documents-every-landlord-needs/) Meta: Various British Columbia rental agreements and forms are needed to operate a rental business legally. Tenant screening services offer all the vital resources. Date: June 20, 2023 Author: SingleKey Content: Most experienced and successful landlords agree on the importance of tenant screening. Tenant screening reports will help landlords rule out applicants who may have trouble meeting rent payments, have a record of exhibiting disruptive behaviour, or may otherwise not meet your criteria.The SingleKey tenant screening platform caters to every landlord's needs with easy-to-use property management services, including:Tenant ReportsRent CollectionRent Guarantee ProgramIn this guide, we’ll show you how to manage your investment property successfully with the necessary British Columbia rental agreements and forms required throughout each stage of a new tenancy. We’ll also review the rental climate and laws in British Columbia that will impact your rental property.British Columbia's rental marketIf you like coastal mountain views, stunning architecture, and a buzzing seaport, you'll enjoy managing an investment property based in Vancouver, one of British Columbia’s most competitive rental markets. Vancouver appeals to most prospective renters due to its leisurely pace while still providing the benefits of city amenities. The nearby cities are quieter but boast equally desirable qualities. It's no surprise that British Columbia is Canada's second most popular province.There are no signs of population growth slowing in Vancouver, and rental prices are at their highest level in years. According to a 2023 report by Canada Mortgage and Housing Corp., the year-over-year growth in average rent paid in Vancouver is 5.7%. With annual rent increases applied by landlords to current tenants, rent will continue to rise. Each Canadian province has its own regulations regarding yearly rent increases that a landlord can apply to current residents every 12 months. Required forms for the rental application processOne of the first documents a landlord sends to prospective tenants is a residential rental application. Some of the information required of the prospective tenant includes: Basic information, like full name and date of birthCurrent addressDriver's licence numberSocial Insurance Number SIN (optional)Credit checkPast pay stubsNotice of Assessment to verify sources of monthly incomeLetter from employerRequired forms to start a tenancyOnce the landlord approves a potential tenant's residential rental application, a lease agreement that protects the tenant and the landlord is drafted and signed. A tenant screening service can help provide the tools, resources, and legal documents you need to make the next move by incentivizing tenants to pay rent on time and protecting your rental income with a rent guarantee program. Residential Tenancy Agreement The Residential Tenancy Agreement or rental agreement includes standard terms that every landlord must prepare for every tenancy. This is a binding contract for landlords and tenants. For a manufactured home site, use the Manufactured Home Site Tenancy Agreement.  Schedule of Parties  Use the Schedule of Parties form when there is insufficient room for additional applicants or respondents. Lease Addendums  Addendums are useful for including additional terms specific to the rental property and not specified on the Residential Tenancy Agreement. Condition Inspection Report Landlords and tenants should complete a Condition Inspection Report together at the start and end of a tenancy or when a landlord first approves a tenant to keep a pet. Before the tenant moves into the property, the landlord and tenant must inspect the rental unit or property together. The rental must be empty before the inspection. Let’s say the landlord has proposed a date and time for the initial inspection, and the tenant cannot meet during the landlord’s first suggested inspection time. In that case, the landlord can follow up with a second and final opportunity to schedule a condition inspection using a Notice of Final Opportunity to Schedule a Condition Inspection form.Once a tenant moves into the property, they could reside there for years, so having documentation of the property between the landlord and tenant will take the guesswork out of whether property damage was a pre-existing problem or if the tenant caused the damage. The inspection form benefits the landlord and the tenant. The inspection report will determine if the tenant is owed a full security deposit fee or must pay for property damage.  Rent Receipt A Rental or Rent Receipt form is proof of payment showing that a tenant has paid their rent or deposit. It includes pertinent information for the landlord and renter to keep on file, including NSF fees, date, method of payment, and signatures.  Notice To Enter A Notice of Intent to Enter form must be presented to the tenant at least 24 hours before visiting and entering the property. Once the written notice is submitted, landlords may enter the premises. Required forms to end a tenancyWhether you are ending a tenancy prematurely so that you or family members can live in the home, or in the worst-case scenario, choosing to evict a tenant, every property owner must abide by strict regulations. There are multiple reasons a landlord would decide to evict, and each cause has a corresponding legal form. Here are the most common reasons why people are evicted: Non-payment of rent Interfering with others, damage, or overcrowding Illegal acts or misrepresenting income Landlord, a purchaser, or a family member requires the rental unit Landlord wants to demolish the rental unit, repair it, or convert it to another use Here you will find a list of various legal forms to use when terminating a tenancy: Notice Terminating or Restricting a Service or Facility 10 Day Notice to End Tenancy for Unpaid Rent or UtilitiesOne Month Notice to End Tenancy Two Month Notice to End TenancyFour Month Notice to End Tenancy for Demolition or Conversion of the Rental Unit to Another Use 12 Month Notice to End Tenancy for Conversion of Manufactured Home Park Mutual Agreement to End a TenancyProof of Service Notice to End Tenancy and Written Demand to Pay UtilitiesExplore more landlord tenancy forms in British Columbia.45-Day Notice of AvailabilitySuppose a landlord submitted an order to end a tenancy for repairs or renovations. A landlord will use the 45-Day Notice of Availability form to notify the tenant of the rental unit's date of availability. Rent increases in British ColumbiaRent increases in Canada vary by the laws governing each province. A landlord cannot increase the rent during the first 12 months after a rental agreement is signed. Once 12 months have passed on a fixed-term lease, they can increase the rent, no more than the maximum limit, only once every 12 months. The maximum rent increase limit in British Columbia is 2% annually.Typically, a landlord will employ a rent increase on a current tenant when they wish to increase their rental income. As a property manager, you must submit the proper rent increase form for your investment property at least three months in advance. As a landlord managing property in BC, it's important to understand loopholes in this rule. For instance, rental properties that change tenants can impose a more significant rent increase that exceeds the set limit of 2% annually.If the previous tenant had been residing in the residential property for many years, they might have been paying notably below the average rent. Now that the space is vacant, landlords can take stock of the current market value, the property's condition, and the rental property location and increase the rent with incoming tenants when establishing the rental agreement.Considering all the fixed and variable expenses, you can conclude how much to charge your new tenants. These costs include: Hard Costs Hard costs are incurred every month and include:RentMortgage paymentProperty taxesInsuranceProperty management fees (even if you plan to do this yourself)Bookkeeping/accountingUtilities (if applicable) Soft costs Soft costs vary and may include: Vacancy rate (budget at one month vacancy, which equals 8%)Repairs and maintenance (dependent and specific to the rental property)Reserve funds (i.e. emergency fund, safety net, etc.) Here are rent increase guidelines property owners in British Columbia must follow:Tenants are not obligated to pay unlawful rent increases, which are rent increases that are higher than what is regulated. Exceptions will apply for additional rent increases approved by the Residential Tenancy Branch (RTB).For landlords to raise the rent higher than the annual set standard, they must either have the tenant's written consent or get approval from the RTB. A 2% rent increase is permitted every 12 months.Property managers must submit a written rent increase notice no less than three full months before it takes effect.Rent increase forms Notify tenants of rent increases with the appropriate forms that apply to your rental property: Notice of Rent Increase Residential Rental Units Notice of Standard Rent Increase-Manufactured Home Site Notice of Rent Increase Manufactured Home Site Notice of Additional Rent Increase-Eligible Capital Expenditures (Phase 2) If eligible, a landlord may apply for an additional rent increase by submitting the Application for Additional Rent Increase to the RTB office.After a landlord has successfully applied with the RTB for an additional rent increase that is eligible for expenditures, they must issue the following two rent increase forms at least three months in advance: Notice of Additional Rent Increase – Eligible Capital Expenditures (Phase 1)Notice of Additional Rent Increase – Eligible Capital Expenditures (Phase 1 Details)To learn more about expenses on a residential property that qualifies for additional rent increases beyond the 2% set limit, read about the rules for imposing additional rent increases. Tenancy laws and rules in British ColumbiaDuring the tenant screening process, it’s essential for landlords to follow a set of guidelines that ensures tenants are protected against discrimination and landlords are equally protected against discrimination accusations or litigation.A landlord cannot use any of the following reasons to reject an application: Income assistance as a source of incomeRace, ethnicity, and nationalityReligious affiliationsMarital and family status Gender or gender identityAgeDisabilityFrom a property managerial standpoint, avoiding disputes between landlords and tenants is essential in operating a smooth rental process. From pre-screening to tenant screening, landlords should understand what they can and cannot consider when choosing a tenant. The tenancy laws apply to real estate investors managing properties, as well as landlords.While a landlord can limit the number of people residing in their investment property, they cannot turn away applicants because they have children.The property owner or landlord can decide whether or not they will permit a pet inside their rental property. The only exception to this rule is the Guide Dog and Service Dog Act, which states that a landlord cannot refuse or charge a pet deposit from a prospective tenant with a legitimate guide dog or service dog.FAQ: British Columbia rental agreements and procedures What can a landlord ask tenants living in British Columbia? In a rental application, it’s common for a tenant to provide the following information for the screening process: date of birth, proof of income, references or identification, Social Insurance Number, and consent for a background and credit check. Through proper screening, landlords can ensure that they receive their rent payments and that their property is safe. Do you need a rental agreement in BC? Yes! Landlords must submit a written tenancy agreement for each tenancy, abiding by Canadian and provincial laws. Additionally, landlords may provide addendums and require security deposits. How long is the rental period in British Columbia? A fixed-term period is 12 months. A renter can lose their deposit if they break their lease agreement before the year has expired. Additionally, breaking the lease can result in a negative reference when future landlords are screening an applicant’s rental history. Our final thoughtsIt’s easy to be overwhelmed with rental property paperwork. A digital vault and other digital tools can help you track and organize the forms related to each property. They also safeguard your tenants’ and your own personal information and help you manage who gets access to this important data. Understanding what forms you need throughout a tenancy and where to find them puts you on track to becoming a successful property manager.Tenant screening reports also help landlords and real estate agents filter through applications to find the most risk-free applicants. SingleKey enhances the overall rental process from start to finish with valuable tools to screen for great tenants, collect rent payments, and protect investment property income.Sign up for free today and enjoy better outcomes in your property management journey. --- ### Ontario Rental Agreements & Documents Every Landlord Needs [Ontario Rental Agreements & Documents Every Landlord Needs](https://www.singlekey.com/en-ca/near-me/ontario/ontario-rental-documents-every-landlord-needs/) Meta: Learn about Ontario rental agreements and documents every landlord and property manager needs, as well as important laws related to rent control. Date: June 13, 2023 Author: SingleKey Content: Becoming a successful landlord in Ontario can be challenging. If you're an investment property owner or new landlord living in Ontario, familiarize yourself with the local rental market and learn how to navigate essential Ontario rental agreements and documents.In this article, you will also learn about national and regional laws for tenancies and determine if rent control may apply to your rental property. We’ll explore Ontario’s rental market and how landlords and real estate investors can ensure a successful landlord-tenant relationship.Essential Ontario rental agreements & documentsWhen hosting a showing for a rental property, a property manager or real estate agent should keep a rental application form accessible for all prospective tenants, which outlines the following: Basic information of the primary applicantBasic information about other potential rentersCurrent addressSIN (optional)List of previous landlords Rental historyConsent to conduct a credit checkAs part of the rental application process, landlords may also ask potential tenants to provide the following:Verification of incomeDriver’s licenceLetter from employer Past pay stubsTo ensure a smooth rental process, begin the tenant screening once you have consent and notify the applicant promptly whether they have been approved. Documents to start a tenancy Once the application is approved, landlords must collect the following documents before the move-in date to secure monthly rent on time, a security deposit, and a pet deposit (if applicable). Property owners must also conduct an inspection of the premises (ideally with the tenant) before the move-in date and provide a rent receipt to the tenant to show proof of payment. These are some of the Ontario rental documents needed once a tenant is approved: Residential Tenancy Agreement: Ontario rental agreements come in a standard form that is provided by the government.Move-in/Move-out Inspection ReportRent ReceiptPro Tip: Landlords may protect themselves by using addendums in the rental agreement to include additional rules that are specific to the rental property.Documents during the tenancyDuring the tenancy, landlords should have all addendums or disclosures related to the property, including:N1: Notice of Rent Increase with instructionsN2: Notice of Rent Increase (Unit Partially Exempt) with instructionsN3: Notice to Increase the Rent and/or Charges for Care Services and Meals with instructionsN10: Agreement to Increase the Rent Above the Guideline with instructionsNotice of Intent to EnterDocuments to end the tenancyEvicting a tenant can be a tricky process. There are strict guidelines and legal procedures that each landlord must follow before asking a tenant to leave the premises or having them removed. Before initiating the eviction process, landlords should consult with an attorney to ensure they are not violating the rental agreement or provincial or national laws. In order to end a tenancy, landlords must submit the appropriate forms depending on the circumstances. These forms may include:N4: Notice to End your Tenancy Early for Non-payment of Rent with instructionsN5: Notice to End your Tenancy for Interfering with Others, Damage or Overcrowding with instructionsN6: Notice to End your Tenancy for Illegal Acts or Misrepresenting Income in a Rent-Geared-to-Income Rental Unit with instructionsN7: Notice to End your Tenancy for Causing Serious Problems in the Rental Unit or Residential Complex with instructionsN8: Notice to End your Tenancy at the End of the Term with instructionsN11: Agreement to End the TenancyN12: Notice to End your Tenancy Because the Landlord, a Purchaser or a Family Member Requires the Rental Unit with instructionsN13: Notice to End your Tenancy Because the Landlord Wants to Demolish the Rental Unit, Repair it or Convert it to Another Use with instructionsImportant considerations for property managersWhen deciding what to charge their tenants, property owners should consider many costs, including the following: Hard Costs Hard costs are incurred every month and include:RentMortgage paymentProperty taxesInsuranceProperty management fees (even if you plan to do this yourself)Bookkeeping/accountingUtilities (if applicable) Soft costs Soft costs vary and may include: Vacancy rate (budget at one month vacancy, which equals 8%)Repairs and maintenance (dependent and specific to the rental property)Reserve funds (i.e. emergency fund, safety net, etc.) Understanding which regulations apply to your rental property under the Ontario RTA, Human Rights Code (Ontario) and the Freedom of Information and Protection of Privacy Act (FIPPA) and which documents are needed for each rental-related circumstance will help improve the management process. Many landlords have the misfortune of dealing with unpaid rents, increased vacancy rates due to a competitive market, and the additional expenses and tasks of keeping up with vital services, maintenance costs, or property damages. There's also the possibility of a rent freeze in an unstable rental climate, maintenance issues that can become an emergency situation, illegal activity on the premises, and disputes between landlords and tenants. Landlords can greatly reduce the risk of delinquent rental payments by thoroughly vetting and implementing a tenant screening process  through online tenant screening services that provide extensive credit reports, background checks, income source verification, and much more.Demand in Ontario's rental marketOntario has some of Canada's most expensive living costs and is the country's most populated province. The following contributing factors increase the demand for rental properties: Population growthThe limited supply of rental stockInflation rateAs inflation rises, so does the possibility of mortgage rates increasing. High mortgage rates give buyers less-than-favourable purchasing power, leading to more people looking to rent. The demand for rental properties can benefit landlords since they have a larger selection of applicants allowing them to be more selective. Key update to Ontario's rent increase guidelinesIn 2023, Premier Doug Ford raised rent increase limits to 2.5% annually. For instance, if a current tenant's rent is $1,000 and after 12 months, the landlord decides to increase the rent, the landlord may only raise the rent to $1,025—a 2.5% increase. If the landlord wants to increase the rent by more than 2.5%, they must get approval from the Landlord and Tenant Board (LTB), which is generally granted under special circumstances and is uncommon.What is the purpose of the Landlord and Tenant Board?The LTB protects residential tenants from unlawful rent increases and evictions. Their purpose is to balance the rights of landlords and tenants. Additionally, they manage disputes between residential landlords and tenants concerning all eviction applications filed by housing co-operatives. A landlord can only increase the rent on a current tenant higher than 2.5% annually with the approval of the LBT. It takes a minimum of eight months for the LTB to resolve a dispute if there have been no errors in the filing. If a mistake has been made, it will take significantly longer. This is a frustrating situation for both landlords and tenants that will hopefully be remedied with the recent budget announcement.How often can a landlord increase the rent?A landlord can increase rental prices every 12 months but must give a three-month notice to each tenant. This isn't a concrete rule that every landlord must abide by––there are some exceptions to these rules. Landlords must be aware of the exceptions to these rules and be transparent about them in their dealings with potential tenants when drafting the lease agreement. The exceptions to rent control include: In a retirement home, rent increase guidelines only apply to the rental cost but not to the cost of services, including nursing, food, and cleaning services. For new buildings or additions to existing buildings that are rented and occupied for the first time after November 15, 2018, there is no limit to the amount a landlord can increase rent. To maintain a good landlord-tenant relationship, the landlord should ideally be transparent about this law for unfamiliar tenants. The Residential Tenancies Act: how it applies to landlordsThe rental industry is highly regulated by the Residential Tenancies Act (RTA). Some of the RTA laws do not apply when a tenant and landlord share a kitchen or bathroom. Landlords must comply with all other applicable laws in the RTA. The RTA covers a landlord's responsibilities, including repairs, services, consent to enter premises, tenant applications, the eviction process, and more. FAQ: Ontario rental agreements & standard documents Is it worth being a landlord in Ontario? Being a landlord in Ontario can be very rewarding, but the answer depends on the person’s skillset, willingness to learn, risk tolerance, and ability to take on new challenges, among many other things. Choosing your renters carefully will make a big difference in whether the rewards of being a landlord outweigh the grief. With the benefits a tenant screening service provides, a landlord can protect their rental income.  What is the most a landlord can raise the rent in Ontario? As of 2023, landlords can only raise rent by 2.5% annually. However, some exceptions will allow landlords to raise rents by a higher percentage. For instance, in retirement home properties, rent increases may only be applied to the rental cost and not to other services the home provides, such as food and cleaning services. And for new buildings or additions made after November 15, 2018, the landlord is not limited to the amount the rent may be increased. What is illegal for landlords to do in Ontario? There are laws in place to protect tenants in Ontario, so landlords must be knowledgeable about these laws to avoid lawsuits. Some laws stipulate that a landlord cannot impose repayment agreements on tenants or break lease agreements. They must also provide proper notice of intent to enter and not discriminate against prospective tenants. Our final thoughtsMaintaining files with important Ontario rental documents, such as rental agreements and lease addendums, in a digital vault is a great way to stay organized and ensure your documents remain secure. Sensitive personal information can be protected with digital vault solutions that allow you to store and control who can access your rental documents.Knowing how to manage these critical files, conduct thorough move-in/move-out inspections, and provide proper notice of entry and rent increases can help you manage your properties effectively and within legal boundaries. Learn more about risk-free renting with SingleKey’s Tenant Screening Report. You’ll get a comprehensive profile of your potential tenant, including a credit check, social media scan, and employment verification. --- ### Alberta Rental Agreements & Documents Every Landlord Needs [Alberta Rental Agreements & Documents Every Landlord Needs](https://www.singlekey.com/en-ca/near-me/alberta/alberta-rental-documents-every-landlord-needs/) Meta: In this overview, learn which essential Alberta rental agreements and documents landlords should have on file for their rental property. Date: June 5, 2023 Author: SingleKey Content: For new landlords still familiarizing themselves with what they need for vetting, approving, and ending a tenancy in Alberta's rental market, this guide will tick off all the do's and don'ts, as well as all the required Alberta rental agreements and documents, you'll require.Keep in mind that each province may have unique regulations. Renting your investment property to the right tenant can be accomplished more easily with these tips.Introducing Alberta's rental marketHere’s a complete and comprehensive list of documents you’ll need while vetting a potential renter and managing your rental properties in Alberta. It will help property owners and landlords stay organized, especially for the uninitiated, whether renting one property or multiple units. The more landlords know about province-specific rules and essential paperwork needed, the more time they will have to focus on other important aspects of managing a rental property, including:Reducing vacancy ratesMinimizing maintenance costsGenerating extra incomeLet's break down all the things a successful landlord should consider when embarking on their property manager journey.Checklist for Alberta rental agreements & documentsProperty managers will need the following Alberta rental agreements and documents during the screening process, after the rental application is approved, during the tenancy, and to end the tenancy. Residential Rental Application - A landlord needs a standard application form to confirm your identity, verify your sources of income, check your rental history, obtain consent for credit checks, and more. Residential Tenancy Agreement  - A written agreement is important because tenants can break verbal agreements, shorten the agreed-upon long-term occupancy, overstay their residency, or miss rent payments. A Residential Tenancy Agreement outlines clear expectations from both parties.Move-in/Move-out Inspection Report - An inspection form for landlords and tenants will point out any damages to the residence while it is vacant and before tenants move in. A written inventory of pre-existing damage to the property will help landlords determine whether a tenant will receive their deposit back in full.Statement of Account - The statement of account or security deposit form will help ensure that the landlord's costs of repairs to any damages on the premises are covered.Notice of Entry - With the exception of an emergency, a notice of entry form alerts the tenant that a landlord will need to enter the premises. Some reasons for giving a notice of entry form would include inspecting or making repairs, an appraisal on a rental property, or pest control.Notice of Rent Increase - After 365 days have passed since the start of the tenancy or the last rent increase, landlords must submit a notice of rent increase form to the tenant if they plan on increasing rent. The amount of notice required varies and depends on the tenancy terms.Pet agreement - It is up to the landlord if they will allow pets to live on the premises. A written pet agreement will avoid any confusion or conflict between the tenant and landlord.Documents to end a tenancyLandlord’s Notice to Tenant: Termination of a Periodic Tenancy  - A periodic tenancy has a start date but no end date. To end a periodic tenancy, a landlord or a tenant must give notice––this form is for landlords to submit to tenants.Tenant’s Notice to Landlord: Termination of a Periodic Tenancy - A periodic tenancy has a start date but no end date. To end a periodic tenancy, a landlord or a tenant must give notice––this form is for tenants to submit to landlords.Landlord’s Notice to Tenant: Termination of Tenancy for Substantial Breach - If a tenant commits a series of breaches, a landlord will need to submit this form to a tenant if they choose to terminate the tenancy. This notice must be served on the tenant at least 14 days before the day that the tenancy is to terminate.Landlord’s Notice to Tenant: 24‑hour Notice of Termination of Tenancy  - A landlord may submit a 24-hour notice of termination form if the tenant has physically assaulted anyone on the premises or caused significant damages to the rental space or property.Landlord’s Notice to Vacate to Person(s) who are Not Tenants - A landlord can give anyone not listed on the tenancy agreement occupying the residence a notice to vacate.Alberta does not offer rent control. However, if you live in a rent-controlled province like Ontario, you may be able to increase the rent by giving notice.    As a successful landlord, you want to protect your property, establish a trustworthy landlord-tenant relationship, and ensure you're selecting candidates who will pay their rent on time. Screening prospective tenants properly is essential for tenancies to run efficiently. What application documents can landlords request The application process helps landlords get to know the applicants. Are the future tenants reliable? Do they have the monthly income to afford the rent, and how does their credit history check out? There are many questions to consider, and an application can help you narrow down the pool of prospective tenants. Residential landlords can ask applicants for the following basic information on the application: First and last name Date of birth (DOB) Driver's licence number  Social insurance number (SIN) (optional for the applicant to provide) Co-applicant (and any other occupant) information Landlords can also legally request the following items with the consent of the prospective tenant: Credit check Past pay stubs Notice of Assessment to verify sources of monthly income Letters from employer  Additional questions landlords can ask: Do you smoke? Do you own a car? Do you have pets? What is your monthly income? Have you ever declared bankruptcy? Are you willing to submit to a background check? Here’s a full list of suggested questions for landlords to screen tenants. What landlords should not ask It's common to ask potential tenants basic personal questions during the showing of the property. When engaging with potential renters, stick to providing details about the amenities and features of the rental. Landlords should avoid discriminatory questions under the Canadian Human Rights Act. It's unlawful to ask questions regarding: Religion Marital status Age Ethnicity Nationality Political preferences Sexual orientation Their plans on having children Furthermore, landlords should avoid advertising a rental property that strives to appeal to a younger, specific age bracket, race, nationality, or religious affiliation. The Canadian Human Rights Act aims to ensure all individuals have an equal opportunity for work and accommodation. Types of Alberta rental agreements There are two types of rental agreements: fixed-term and periodic agreements. A notice to end the residence is not required in a fixed-term rental agreement. Ensure the tenancy agreement includes the specific dates for the entirety of the occupancy. In contrast, a periodic tenancy agreement allows no definitive end date; therefore, the landlord or renter must give written notice to end the occupancy. Virtually all periodic terms are month-to-month. They can also be week-to-week. The term set really depends on what the landlord’s preferences are at the time of the rental agreement. Required documents: before, during, and after the tenancy When a potential renter agrees to rent a unit or property from a landlord, both parties enter into a binding contract. The residential tenancy agreement should be in writing, whether digital or print, so all parties have a record. If any disputes should arise before, during, or after the termination of the tenancy, both the tenant and landlord can refer to their written agreement. Before the start of tenancy The Tenancy Agreement is your original agreement with your soon-to-be tenant. The written contract contains everything from what's included in the rent for renters, like gas, water, trash, laundry, refrigerator, and confirmation of pet deposits and terms that might apply to the tenant. It also can include the security deposit, occasionally called the damage deposit.  Lease Addendums include a modification in the original lease. If there are updates to the premises requiring tenants to park in a different location, or a tenant has a new pet or any other related change, the tenant should acknowledge it in writing. If you use a property management company or attorney, they will handle all of your residential property needs. Many real estate agents also work in property management.  It’s common for a tenant to receive a move-in inspection sheet to inventory any damages on the property upon moving in. This way, when they move out, the damages are recorded and nothing is deducted from their deposit.  During the tenancy Residential landlords can use Rent Increase/Decrease Lease Addendums after 12 months have passed since the renter signed the original Residential Tenancy Agreement. A landlord dealing with unpaid rent can use their discretion on how to handle each case-by-case circumstance. Ending the tenancy Unless the rental property is suddenly deemed uninhabitable due to an unexpected circumstance, tenants are bound to all terms listed in the residential tenancy agreement or lease addendum, including the agreed-upon rent and payment due date. When the tenant’s rent exceeds their new monthly income or they are delinquent on paying their rent on time for whatever reason, there is a list of forms that landlords should have access to if they decide to evict a bad tenant.  Other reasons landlords can opt to evict a bad tenant include the following challenging situations: Breaking rental agreement terms - violating the terms of the rental agreement, which can include failure to pay rent or keeping unauthorized pets. Disorderly conduct on the premises - disturbing, endangering, or assaulting anyone residing on the premises. Damaging anything on the premises - severe damage anywhere on the premises. Endless noise complaints - excessive noise complaints reported by other tenants, excluding normal day-to-day activities, that tenants continually disregard can result in eviction. FAQ: What Alberta rental agreements and documents are required? Should landlords also conduct a move-in inspection on a separate form? It is not required, but we highly recommend all landlords conduct their own inspections to have a record. You can use this Move-in/Move-out Inspection Report to complete your inspection. What do I do if a tenant is late on their rent? For nonpayment of rent, make payment arrangements with the tenant. Failing compliance with these arrangements, you have two options. First, if this is a recurring problem, use existing, tenant-related paperwork and file an eviction notice. If this is the first time that this has happened, the second option is to issue a 14-day eviction notice that the tenant has breached their lease agreement. A tenant must be given the notice at least 14 clear days before the tenancy is to end. This means the day the notice is given and the day the tenancy ends don’t count as part of the 14 days. This creates a papertrail you can use later to file a hearing with the Residential Tenancy Dispute Resolution Service (RTDRS) if needed.  If ever in doubt, seek legal advice. How much notice do I need to give a tenant to end a monthly tenancy? The landlord must give three months’ notice, while the tenant can give one month’s notice. Our final thoughtsBeing a landlord can become a full-time job. Keeping a central database of rental documents can reduce some of that burden and save you from a time-consuming search. You can also securely store, access, and share any necessary rental forms with a digital vault. This protects important information related to your tenants and helps you efficiently manage your rental properties. Discover more benefits of using online tools like tenant screening with SingleKey. --- ### How Often Does the Average Tenant Move in Canada? [How Often Does the Average Tenant Move in Canada?](https://www.singlekey.com/en-ca/near-me/canada/how-often-does-the-average-tenant-move-in-canada/) Date: October 26, 2022 Author: Mark Gregorski Content: As a landlord, it’s crucial to know how often the average tenant moves and their reasons for doing so. Each time you lose a tenant, your profit margin takes a hit. Over time, those losses can erode a big chunk of your profit. In the rental industry, the rate at which renters leave a rental unit is called tenant turnover. A high tenant turnover increases your business’s expenses: Lost rent income due to vacancy Marketing costs to list your property and find new tenants Credit and background checks to screen applicants Cleaning costs to prepare your rental for a new tenant In this article, we’ll explore the factors that affect rental turnover rates, such as economic trends, location, tenant demographics, and property type. We’ll also cover some tips you can employ to entice your tenants to renew their lease instead of packing up and leaving. Understanding how these factors interact and affect your rental’s turnover rate is valuable. Armed with this knowledge, you’ll be in a better position to attract renters who are happy to remain your tenants for the long run. How often do Canadian tenants move? According to the Canadian Association of Movers, the average Canadian will move five or six times during their lifetime. However, this figure likely represents both tenants and homeowners. There’s little Canadian data that covers only renters. However, a national research study by ResidentRated in the U.S. found that the average American tenant remains in one rental property for 27.5 months.  Suppose this figure closely resembles the moving habits of Canadian tenants. In that case, the average tenant stays in one rental for a little over two years. That’s a lot of moving! Of course, turnover rates vary from province to province. Here are the numbers from the 2021 Rental Market Report by the Canadian Mortgage and Housing Corporation: If you’d like to view the turnover rates in various Canadian cities, the CMHC makes the data available here. How to calculate your turnover rate and average turnover cost To determine your tenant turnover rate: divide the total number of tenants that move out in 12 months by the total number of tenants you have during that period. So, if you have one tenant that moves out over 12 months and three in total that have stayed at the end of the 12 months, your turnover rate is 33%. The average turnover cost of your rental business involves more work to figure out. But you can quickly crunch the numbers with a turnover cost calculator. What are the most common reasons that Canadians move? According to data from Mi-Box, a mobile storage firm with operations across North America, most Canadians move for the following reasons: How understanding tenant turnover can help improve your bottom line A deep understanding of the most common factors that impact tenant turnover rates can help you: Focus your marketing efforts on attracting the right tenant rather than just any tenant Anticipate tenants’ needs and goals, so you know what amenities they desire in a rental Calculate your expected annual rental turnover cost and budget the amount into your projected profit Better match your property type (apartment, detached home, etc.) to tenants who’ll be more willing to stay long-term  Let’s explore these factors in detail. Economic conditions The state of the economy plays a key role in a renter’s decision to move or remain in their current location.  For example, during a recession, tenant turnover typically rises. The reason is that renters who’ve lost their job or are experiencing financial hardship seek cheaper housing options. However, sometimes during great uncertainty, such as the height of the COVID-19 pandemic, tenants are more reluctant to take the risk of moving to a new home. Let’s say rent prices are soaring rapidly as the economy recovers from a recession. In that case, renters will likely stay put for longer, especially if they’ve recently locked in a favourable rental fee. However, they’re more likely to seek new rental opportunities as rent prices drop. Regional rental market trends Depending on your rental’s location, it may be more beneficial to pursue long-term tenancies in some regions and short-term tenancies in others. There are various reasons for these regional disparities, including differences in local consumer demand and government regulations. For example, long-term tenancies are more common in Alberta and Saskatchewan. Alternatively, short-term rentals have more opportunities in Ontario and British Columbia. Both long-term and short terms rentals offer benefits and drawbacks.  Tenant demographics Do you have a specific type of individual you prefer as a tenant? This is a key question to consider, as some tenants will hop from one place to another more frequently than others. Attributes like age, income, and family status play a role in shaping their moving habits. Broadly speaking, you can classify tenants in the following boxes:  Each tenant type will have different needs from a rental property based on their current life goals and trajectory. These needs will influence how long they choose to remain in one rental.  Generally, you can expect the highest turnover among students. Retired individuals are more likely to stay in one place longer than the general population, so they’re typically the most stable tenants. Families and young professionals are somewhere in the middle.  Rental property type The rental property type you own will impact how often you have to press the “reset button” with a new tenant. Starter apartments attract students, as they’re relatively cheap, require little maintenance, and provide basic amenities. Thus, you can expect a higher turnover rate with this property type. Young professionals find upscale condos and apartments appealing, given their greater income power. They’re more likely to commit to a rental for longer than students but may upgrade to a new rental as they advance in their careers. Detached homes and townhouses are well-suited for couples with children, as they offer plenty of space and multiple bedrooms and bathrooms. You can anticipate lower turnover rates than students and young professionals, as family units prefer stability. Basement suites typically cater to individuals in transition. Some examples are recently divorced individuals, those going through bankruptcy, or those working temporary jobs. Typically, such individuals are looking to rebuild their finances and upgrade their living space soon. As a result, you can anticipate higher turnover rates. Ways to reduce your tenant turnover rate Reducing your tenant turnover rate can boost your bottom line. As a result, it pays to find ways to encourage your tenants to stay for as long as possible. Ensure your rental satisfies tenant needs and expectations A rental unit that provides tenants with the amenities they desire will make their stay more pleasant and convenient. Thus, they’ll be less inclined to leave. Do some research to become familiar with the needs and preferences of your target demographic. Upgrade your rental with periodic renovations Depending on the current state of your rental, it may be worthwhile to perform a large-scale renovation. Regularly modernizing your property can maintain its appeal with your tenants. Not only will they stick around longer, but you can justify charging a higher rent price. Ask your tenants for their ideas and input before you begin. By doing so, you not only make them feel valued but can tailor the improvements to meet their needs. Know what the market is charging Being aware of the average rental fees in your neighbourhood is vital. If your rent price is too steep relative to what similar rentals are charging, you risk having your tenants bailing once they secure a cheaper lease. Raise your rent price slowly Your tenants won’t be thrilled if you don’t raise the rent for a long time, only to hit them suddenly with a massive price hike one year. If you must increase the rent, do so gradually each year so your tenants can budget for the extra cost. Screen for long-term tenants When screening tenants, examine their rental and job history to see how often they switch one property for another. Ensure they earn enough from their job to cover the rent by asking them to provide recent bank statements. As a landlord, you want to do everything possible to avoid tenants likely to default on their payments -evictions will increase your turnover rate. Offer incentives The right incentives can encourage tenants to extend their lease when the renewal date arrives. Here are some ideas to consider: Be responsive, respectful, and attentive Fostering positive landlord-tenant relationships is one of the keys to retaining long-term tenants. And it doesn’t take much work – just common sense, mostly. Always maintain open communications with your tenant. Respond to their emails and calls promptly, answer any questions they bring up, acknowledge their concerns, and resolve any issues in a timely manner. Our Final Thoughts Switching properties every few years is common among renters. A new job, a raise at work, a growing nest egg and other life events can cause someone to seek a new living space. Do you own rental units that cater primarily to short-term renters? If so, tenant turnover rate likely won’t be an issue for you – it’s to be expected, given the nature of the business.  However, let’s assume your goal is to retain tenants for the long term, as you value stability, consistency, and low maintenance. In that case, it’s essential to analyze the economic trends in your region, tenant demographics, rental property types, etc. All these factors can impact your turnover rate; you can create a strategy to minimize it by becoming familiar with them.  In addition, exploring different incentives you can offer your tenant can encourage them to renew their lease. SingleKey offers a suite of three different services to help you find and retain long-term tenants and lower the risk that comes with renting:  Tenant Report – this handy credit and background check will help you quickly find high-quality tenants that’ll stick around for a while and pay their rent on time. Rent Collection – this online rent collection tool enables tenants to pay their monthly rent online through pre-authorized debit, eliminating the need for cheques. It also sends automatic reminders to tenants – just set it and forget it!  Rent Guarantee – this program will cover your rental income for up to 12 months, up to $60,000, should your tenant default on their rent payments. There’s also additional coverage for legal fees and property damage. Learn more about our rent guarantee --- ### SingleKey Update: Wait Times Increase at Ontario’s Landlord and Tenant Board (LTB) [SingleKey Update: Wait Times Increase at Ontario’s Landlord and Tenant Board (LTB)](https://www.singlekey.com/en-ca/near-me/ontario/singlekey-update-wait-times-increase-at-ontarios-landlord-and-tenant-board-ltb/) Date: August 26, 2022 Author: Mark Gregorski Content: Ontario landlords eager to resolve disputes with tenants through the Landlord and Tenant Board (LTB) will have to exercise more patience than they ever did. Those applying for a hearing may now need to wait eight months to present their case to a tribunal.  According to recent emails received by applicants, the LTB is now taking more time to process applications and schedule hearings: Thank you for contacting the Landlord and Tenant Board.  Please note that it is currently taking us longer than usual to process applications and schedule hearings. Current processing times are approximately 7-8 months. If you have a file number or have been issued a one-time PIN number, you can check the status of your file on our website. If your file number begins with LTB (e.g. LTB-L-000420-21) then you must log on to the Tribunals Ontario Portal. If your file does not begin with LTB (e.g. TSL-00123-09), you can check the status of your file at LTB: Check File Status | Tribunals Ontario. If you submitted your application more than 7-8 months ago and have not yet been provided with a file number, you can reach out to the LTB Contact Centre or send an inquiry by email to your regional office ensuring to provide your name and the rental unit address. LTB Contact Center: Toll free: 1-888-332-3234 Toronto area: 416-645-8080 TTY:   Call the Bell Relay Service at 1-800-855-0511 Previously, one could expect to attend an LTB hearing six months from the time of application. Not surprisingly, such prolonged delays have already been frustrating for landlords and tenants alike. With wait times increased by up to two months, their grievances may only intensify.  The extended wait times, in particular, will severely impact landlords dealing with tenants who default on rent payments. For some, their only option is to obtain an eviction order to remove the tenant from their property. Unfortunately, they can only do so through the LTB. And the longer they wait, the more money they lose in lost rent, legal fees, etc.  In Ontario, carrying out eviction from start to finish takes up to eight times longer than in the rest of the country. Why does it take the LTB so long to hear a case? It’s unknown why Ontario experiences such significant delays in scheduling hearings related to landlord-tenant disputes.  Some, like Ottawa attorney Mike Thiele, blame the problem on a lack of full-time adjudicators, general staffing shortages, and ineffective virtual hearings. Whatever the reasons for the backlog, it’s clear that the LTB is struggling to keep up with demand. Discussions in online forums suggest the pileup consists of tens of thousands of cases. However, it’s important to remember that these numbers are purely speculative. Delays in court hearings can cost landlords a bundle Are you an Ontario landlord dealing with a tenant who’s suddenly stopped paying rent? If so, a potential eight-month delay in having the LTB evaluate your case can result in a considerable loss in rental income.  If you intend to evict your tenant, you must be prepared to incur even more costs. Legal, court filing, and enforcement fees are common expenses involved in eviction. Along with lost rent, these costs can result in financial hardship and relentless stress for you and your household. There’s not much you can do to get the LTB moving faster with its cases. But you can act to protect your rental income from delinquent tenants. SingleKey’s Rent Guarantee provides you with the resources you need to ensure your rental business doesn’t suffer financially. The program compensates you for up to 12 months in lost rent payments, up to $60,000. And, if you’re dealing with a very troublesome tenant, there’s additional coverage for property damage and legal fees too. Learn more about our rent guarantee program --- ### Moving Day in Quebec – Here’s What You Need to Know as a Landlord [Moving Day in Quebec – Here’s What You Need to Know as a Landlord](https://www.singlekey.com/en-ca/near-me/quebec/moving-day-in-quebec-heres-what-you-need-to-know-as-a-landlord/) Date: July 5, 2022 Author: SingleKey Content: In what has been an annual tradition for more than 200 years in the province, many tenants vacate their existing rental units and settle into new ones on Moving Day. In Quebec, most leases expire on June 30, so a large chunk of the province essentially swaps residences on July 1.Depending on who you ask, Moving Day can be a boon or a headache for landlords. If you’re in the rental business, getting acquainted with this strange provincial ritual that occurs every July 1 in Quebec is wise. That way, you can prepare adequately for the chaos to come!History of Moving Day in Quebec– Why The Province MovesOn July 1stMoving Day dates back to the mid-eighteenth century in Quebec, then known as New France.The tradition began as a humanitarian endeavour implemented by the colonial government, barring landowners from evicting their tenants during the winter. The measure was later codified as law in 1866 as part of the Quebec civil code.As per the law, all urban leases had to begin on May 1 and end on April 30. As a result, May 1 became known as “Moving Day,” as crowds of tenants rushed to vacate their properties and begin fresh leases at new residences.In 1973, the Quebec government amended the law by shifting Moving Day to July 1. They reasoned it would be more convenient for parents to allow their children to complete their school year without disruption. Plus, July 1 is a national holiday, so tenants would have an extra day to gather their belongings and settle into their new homes.While the law eventually repealed mandatory fixed lease terms, the tradition persists today. For example, in 2017, about 130,000 people in Montreal alone moved to a new home.How Quebec’s Moving Day Benefits LandlordsIf you’re a landlord, the primary benefit of Moving Day is knowing that demand for rental properties will skyrocket as July 1 nears. With this foresight, you can create your business schedule far in advance.For example, you can analyze your revenue and expenses at the start of the year and determine the rent price to charge your tenants. Then, you can submit proposed rent increases to your tenants early, giving them ample time to decide whether they wish to renew their leases.If they choose not to renew, you can begin creating advertisements for your rental units to secure new tenants. You can also start addressing any repairs and maintenance on your property right away.How To Prepare For Moving Day As A LandlordJuly 1 is a hectic day for tenants, so you should do what you can to make the transition as smooth as possible. The last thing they’ll want to deal with is a disorganized landlord.Here are some tips for tackling Moving Day the smart way.Assemble Your DocumentsYou don’t want to be rummaging through your office on Moving Day, searching for paperwork. Ensure you have the following documents at your fingertips:Make Your Rental Property Move-In ReadyA signed copy of the lease agreement for the tenantA welcome letter that outlines the key terms of the lease and other helpful information for the tenant, such as garbage collection daysA maintenance request form, which allows the tenant to communicate any repairs the unit needs to undergoA renter’s inspection report, which allows the tenant to assess the unit’s overall condition and note any existing damageHave you yet to approve and sign a lease agreement because you need to screen a last-minute tenant? A great way to get the job done quickly before the chaos erupts on July 1 is to sign up for SingleKey’s Tenant Report. Simply enter your tenant’s information or invite them to provide it via email. In five minutes, you’ll receive a comprehensive Equifax credit report and background check on your tenant.Arrange For Maintenance And Repair WorkIt’ll be challenging to book anyone remotely involved in the construction or maintenance sector during the summer. There’s a good chance they’ll be away on holidays or swamped with work from other landlords.For this reason, you should inquire with your old tenants early about any crucial last-minute repairs to complete. That way, you’ll have more time to get a hold of someone who can rectify the issue before July 1.Ensure Your Old Tenants Vacate The Rental Property On TimeCheck in with your departing tenants a few days before July 1 to ensure they’ve started packing their belongings. By doing so, you’ll also get to inspect the property and take note of any crucial maintenance or repair work to complete (such as a broken toilet or fridge).As per the Regie du Logement, the new tenant has the legal right to enter and occupy their unit on the first day of their lease. There’s no grace period for the old tenant whose lease has expired. Suppose your current tenant isn’t quite ready to move out. In that case, you should instruct them to empty one or two rooms of their contents to provide the new tenant with some space to drop off their belongings. Be sure to assist the departing tenant if you can – they may also be moving into a new property on July 1. It’s a frantic day for many people, so being courteous and helpful is a nice gesture.Make Your Rental Property Move-In ReadyYour new tenants won’t be thrilled if they see pizza boxes strewn across the floor and stains on the walls once they arrive. Ensure you tidy up your unit if your old tenants left in a hurry and left a mess.Be Available to Assist Your New TenantsWhile Moving Day lasts just 24 hours, you’ll still need to be around to address any concerns your new tenants bring up (it’s not time to go on vacation just yet!). You can reasonably anticipate requests for maintenance and repair work. Or, you may have to answer questions about specific rules outlined in the lease agreement.Final Thoughts on Quebec’s Moving DayWhatever your impression is of Moving Day, it’s clear this quirky tradition is firmly entrenched in Quebec’s culture, at least for the foreseeable future.Most landlords in the province begin new leases on July 1, so you can always expect fleets of moving trucks to fill the streets as summer rolls around. Also, homeownership in Quebec is lower than the national average, so there’s no shortage of tenants seeking new rental properties.The weeks leading up to Moving Day can be hectic and demanding for tenants and landlords. But with some prudent planning, you’ll have an easier time navigating the chaos while keeping your new tenants happy.However, there’s always the risk your new tenants can fall behind on rent payments. After all, you’re starting fresh, so you don’t know what to expect exactly.Every landlord knows that timely rent payments are the lifeblood of a rental business. Once they cease, profits immediately head south. And that’s not even counting property damage and eviction costs should things take a turn for the worst.SingleKey’s Rent Guarantee service acts to safeguard your rental income should your tenants fail to pay their rent. You’ll receive coverage for up to 12 months of rent up to $60,000. And if you have to evict a tenant, you also receive reimbursement for up to $1,500 in legal fees and $10,000 in property damage.With SingleKey’s Rent Guarantee service, you can say goodbye to these hefty bills and ensure your rental income won’t vanish overnight due to a delinquent tenant.Learn more about rent guarantee --- ### Ontario Rent Control Exemptions: Changes to the Residential Tenancies Act in 2018 [Ontario Rent Control Exemptions: Changes to the Residential Tenancies Act in 2018](https://www.singlekey.com/en-ca/near-me/ontario/ontario-rent-control-exemptions-changes-to-the-residential-tenancies-act-in-2018/) Date: March 21, 2022 Author: SingleKey Content: This means that if you move into an apartment, condo, or basement unit that was first tenanted as a residential space after the amendment of the Residential Tenancies Act, 2006 (RTA), the landlord does not have a limit on how much they can raise the rent to. Although landlords of these entities do not have to follow the rent increase guidelines, they still have to abide by the provincial rules for increasing rent. This exemption applies to: Apartment additions to existing buildings or homes New basement apartments Mobile home parks and land lease community Rules For Increasing Rent The landlord must give at least 90 days of proper written notice of the rent increase before it takes effect, and can only increase rent once in a 12-month period. In most cases, the rent for a residential unit can be increased 12 months after: The last legal rent increase (including assignments) The start date of tenancy Landlord Tenant Board Rent Increase Forms Use the forms available from the Landlord Tenant Board to give proper notice. Don’t forget, if you do not give proper notice, your tenant can dispute it within 12 months after the amount was first changed. Learn more about Rent Increase Guidelines in Ontario Resolving Issues About Rent Control If there are any concerns regarding the eligibility of a residential unit’s exemption from rent control, landlords and tenants can contact the Landlord and Tenant Board.  To prevent conflict about whether a residential space is exempt from the provincial rent increase guidelines, landlords may want to keep these documents handy: Building permits, applications, and plans Occupancy permits New home warranty documents Documents and invoices from the contractor Before and after pictures of the property --- ### Rent Increase Guidelines: 2023 Summary [Rent Increase Guidelines: 2023 Summary](https://www.singlekey.com/en-ca/near-me/canada/rent-increase-guidelines-2023-summary/) Date: March 4, 2022 Author: SingleKey Content: Each year, the standards landlords have to abide by in order to legally increase rent go through changes. Read on for a summary of the guidelines for increasing rent on residential units for 2023.Rent Increase Guidelines 2023(By Province)Whether you’re a landlord looking to increase rent or a tenant who received a notice of rent increase, be sure that all the necessary forms are completed in order to prevent conflict with the other party.  British Columbia 2023 Rent Increase Guideline: 2%Written Notice: Landlords have to provide 90 days of proper written noticeNotice of Rent Increase Forms:RTB-7 Notice of Rent IncreaseRTB-52 Application for Additional Rent IncreaseRTB- 45 Notice of Standard Rent Increase- Manufactured Home Site • RTB-11a Notice of Rent Increase- Manufactured Home SiteLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in British Columbia. Alberta 2023 Rent Increase Guideline: No rent increase limitWritten Notice: Landlords have to provide 90 days of proper written noticeNotice of Rent Increase Must Include: The dateThe effective date of the increase • The new rent amount proposedThe landlord’s signatureLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Alberta. Saskatchewan 2023 Rent Increase Guideline: No rent increase limitWritten Notice for Members of SKLA and NPHPS: Landlords have to provide 6 months of proper written noticeWritten Notice for Non-Members: Landlords have to provide 12 months of proper written noticeNotice of Rent Increase Forms:Form 5- Notice of Rent IncreaseForm 5a- Notice of Rent Increase for Approved Landlord Association MembersLandlords who are members of SKLA and NPHPS can increase rent once every 12 months.Landlords who are non-members can increase rent once every 18 months.Click here for more information about rent increase guidelines in Saskatchewan. Manitoba 2023 Rent Increase Guideline: Rent FreezeWritten Notice: Landlords have to provide 90 days of proper written noticeNotice of Rent Increase Forms:Form 1A- Notice of Rent IncreaseForm 3- Notice of Rent Increase Above Amount Permitted by RegulationLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Manitoba. Ontario 2023 Rent Increase Guideline: 2.5%Written Notice: Landlords have to provide 90 days of proper written noticeNotice of Rent Increase Forms:RTB-7 Notice of Rent IncreaseRTB-52 Application for Additional Rent IncreaseRTB- 45 Notice of Standard Rent Increase- Manufactured Home SiteRTB-11a Notice of Rent Increase- Manufactured Home SiteLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Ontario. Quebec 2023 Rent Increase Guideline: No increase limit, however, the recommended increase rates are published based on the type of dwellingWritten Notice:For tenancies of one year or more: 3 months of proper written noticeFor tenancies of less than one year: 1 month of proper written noticeFor tenancies that do not have a set end date: 1 month of proper written noticeNotice of Rent Increase Forms:Notice of Rent Increase and Modification of Another Condition of the LeaseLessee’s Response to a Notice of Rent Increase and Modification of AnotherCondition of the LeaseLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Quebec. New Brunswick 2023 Rent Increase Guideline: No increase limitWritten Notice: Landlords have to provide 6 months of proper written noticeNotice of Rent Increase Must Include:The name and contact details of the landlordThe address of the rental unitThe current rent amountThe new rent amount proposedThe date when the increase will take effectThe date and signature of the landlordLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in New Brunswick. Nova Scotia 2023 Rent Increase Guideline: 2%Written Notice:For monthly tenancies: 4 months of proper written notice For weekly tenancies: 8 weeks of proper written noticeNotice of Rent Increase Must Include:The name and contact details of the landlordThe address of the rental unitThe current rent amountThe new rent amount proposedThe date when the increase will take effectThe date and signature of the landlordLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Nova Scotia. Prince Edward Island (PEI) 2023 rent increase guidelines: Rent freeze until December 2023 due to Bill 80, An Act to Amend the Rental of Residential Property Act.Written Notice:For monthly tenancies: 3 months of proper written notice For weekly tenancies: 3 weeks of proper written noticeNotice of Rent Increase Forms:Form 10 Notice of Rent IncreaseForm 12 Application by Lessor for Approval of Rent Increase Exceeding Percentage Allowed by RegulationForm 15 Lessor’s Statement of Income and ExpensesForm 13 Application by Lessee for Review of Proposed Rent IncreaseLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Prince Edward Island. Newfoundland and Labrador 2023 Rent Increase Guideline: No increase limitWritten Notice:For monthly tenancies: 6 months of proper written noticeFor weekly tenancies: 8 weeks of proper written noticeNotice of Rent Increase Forms:RTB-7 Notice of Rent IncreaseRTB-52 Application for Additional Rent IncreaseRTB- 45 Notice of Standard Rent Increase- Manufactured Home SiteRTB-11a Notice of Rent Increase- Manufactured Home SiteLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Newfoundland and Labrador. Yukon 2023 Rent Increase Guideline: 3.3%Written Notice: Landlords have to provide 3 months of proper written noticeNotice of Rent Increase must include:The name and contact details of the landlordThe address of the rental unitThe current rent amountThe new rent amount proposedThe date when the increase will take effectThe date and signature of the landlordLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Yukon. Northwest Territories 2023 Rent Increase Guideline: No increase limitWritten Notice: Landlords have to provide 3 months of proper written noticeNotice of Rent Increase Must Include: The name and contact details of the landlordThe address of the rental unitThe current rent amountThe new rent amount proposedThe date when the increase will take effectThe date and signature of the landlordLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Northwest Territories. Nunavut 2023 Rent Increase Guideline: No increase limitWritten Notice: Landlords have to provide 3 months of proper written noticeNotice of Rent Increase Must Include:The name and contact details of the landlordThe address of the rental unitThe current rent amountThe new rent amount proposedThe date when the increase will take effectThe date and signature of the landlordLandlords can increase rent once every 12 months.Click here for more information about rent increase guidelines in Nunavut.   Easy Rent Collection Is HereUsing SingleKey’s Rent Collection platform, landlords can effortlessly collect and manage their rental payments online, without the hassle of spreadsheets and cheques.Invite your tenant to online rental collection today. Try it free --- ### Renting To Pet-Owners: Provincial Laws You Need To Know [Renting To Pet-Owners: Provincial Laws You Need To Know](https://www.singlekey.com/en-ca/near-me/canada/renting-to-pet-owners-provincial-laws-you-need-to-know/) Date: March 1, 2022 Author: Logan Zloty Content: Renting To Tenants With Pets: Regulations By Province British Columbia Landlords may include a “no pet” clause and refuse to rent to pet owners. British Columbia allows landlords to prohibit or restrict the size, kind, or number of pets they allow a tenant to have on the residential property. Landlords may require an additional refundable pet deposit for tenants who own pets. The landlord can ask for a pet deposit, provided that the amount, including any other security deposits, does not exceed ½ of one month’s rent. Service animals cannot require a pet deposit. Terms respecting pets and pet damage deposits 18   (1) A tenancy agreement may include terms or conditions doing either or both of the following: prohibiting pets, or restricting the size, kind or number of pets a tenant may keep on the residential property; governing a tenant’s obligations in respect of keeping a pet on the residential property. (2) If, after January 1, 2004, a landlord permits a tenant to keep a pet on the residential property, the landlord may require the tenant to pay a pet damage deposit in accordance with sections 19 [limits on amount of deposits] and 20 [landlord prohibitions respecting deposits]. (3)This section is subject to the Guide Dog and Service Dog Act. Alberta In Alberta, landlords can enforce “no pet” clauses and refuse to rent to pet owners if included in the lease agreement. They also have the right to decide what kinds of pets, size, breeds and number of allowed pets. Pet deposits and fees are allowed. Any pet fees should be a reasonable amount. Any refundable pet deposit amount plus the security deposit amount must not exceed one month’s rent. No fees or deposits can be imposed on service animals in Alberta. Landlords who discriminate against an applicant with a service dog can be found guilty of an offence under the Service Dogs Act and the Blind Persons’ Act and can be fined up to $3,000. If a tenant commits a substantial breach, the landlord can apply to the RTDRS or Court to end the tenancy or give the tenant at least 14-days’ notice to end the tenancy. A tenant must receive the notice at least 14 clear days before the tenancy ends. Saskatchewan Landlords in Saskatchewan can refuse rent to pet owners and include “no pet” clauses in their lease agreements. Pets are otherwise welcomed if not stated. If the landlord allows pets, they can legally request additional charges to the tenants. Landlords can request a one-time pet fee or a monthly fee, or both, which are all non-refundable. A landlord can also require a refundable pet deposit, yet the amount must not exceed one month’s rent, including other security damage deposits. For service animals, these fees cannot be charged. Manitoba In Manitoba, landlords can refuse to rent to tenants with pets and enforce “no pet” provisions with eviction, provided they give written notice. Landlords can also set general guidelines on the kinds of pets allowed. Landlords can request a pet deposit for tenants who own pets. A pet deposit cannot exceed one month’s rent in addition to other security deposits. Treated like a damage deposit, the landlord may claim the deposit for any damage or cleaning cost caused by the pet. Pet damage deposit 29.1(1) A landlord who gives a tenant permission to have a pet in a rental unit on or after June 30, 2010, may require a tenant to pay a pet damage deposit. Transitional — deposit not more than 1/2 of one month’s rent 29.1(2.1) If, during the period from June 30, 2010, to the day immediately before this subsection comes into force, a landlord required a tenant to pay a pet damage deposit, the deposit must not be more than the equivalent of 1/2 of one month’s rent payable under the tenancy agreement. You can find pet deposit requirements for Manitoba here: https://web2.gov.mb.ca/laws/statutes/ccsm/r119e.php#29.1(4)  No landlord can request a security pet deposit for a service animal as defined in The Human Rights Code. Exception — service animals 29.1(3) A landlord shall not require a tenant who relies on a service animal as defined in The Human Rights Code to pay a pet damage deposit in respect of that animal. Ontario Ontario landlords are legally allowed to refuse to rent to pet owners. Yet once the rental agreement is signed, a landlord cannot evict a tenant for owning a pet. The Residential Tenancy Act includes a provision stating that all conditions in a tenancy agreement that prohibit the presence of animals in or about the residential complex are void (2006, c. 17 s. 14). This is provided that the pet is not causing damages, disturbances, allergic reactions to other tenants or is a breed that is deemed to be inherently dangerous. “No pet” provisions void 14 A provision in a tenancy agreement prohibiting the presence of animals in or about the residential complex is void.  2006, c. 17, s. 14. It is illegal for a landlord to ask for a pet deposit in Ontario. However, the landlord can accept the deposit if a tenant offers and cannot exceed one month’s rent. Since service animals are not considered pets, any additional fees or requirements do not apply. Landlords have options to issue eviction notices if the tenants’ pets are causing reasonable damages and nuisances. Suppose the tenant’s dog caused extensive damage to rugs by defecating and urinating. Landlords can serve an N5 based on damages if they provide details of the damages and at least two estimates for the repairs. The tenant will have seven days to rectify the damages by paying the amount required or fixing the damages themselves. If not resolved, the landlord can file an application with the Landlord and Tenant Board. Quebec Quebec landlords may refuse to rent to tenants with pets or implement restrictions on what pets are allowed. If there is any failure to respect provisions in the lease, landlords may apply to the Administrative Housing Tribunal for an order to cancel the lease. Quebec has no official policy in place regarding pet deposits. No additional fees or pet deposits can be charged for service animals. New Brunswick In New Brunswick, landlords may refuse tenants based on owning pets and enforce “no pet” restrictions, leading to eviction. Landlords cannot discriminate against tenants with service animals or charge additional fees. Landlords are not permitted an additional deposit for pets. Nova Scotia In Nova Scotia, landlords have the right to include pet restriction clauses in the leases.  Under The Service Dog Act, discriminating against a person who requires a service dog can get a fine of up to $3,000. It is illegal for a landlord to charge an additional pet deposit. Prince Edward Island (PEI) Landlords in P.E.I. may enforce a “no pet” clause or implement restrictions on the type or size of pet allowed. Landlords cannot refuse to rent to applicants who require a service animal. Pet deposits are illegal for a landlord to request. Newfoundland and Labrador Landlords may refuse to rent to tenants with pets and include “no pet” clauses in the lease agreement. Landlords cannot discriminate against applicants who require service animals or charge additional fees or deposits.  It is illegal for landlords in Newfoundland and Labrador to charge a pet deposit. Yukon The Landlord and Tenant Act for the Yukon does not cover this particular issue. Yukon landlords cannot discriminate against people with disabilities that require a service animal. Northwest Territories Landlords can enforce “no pet” policies. A landlord cannot refuse rent to applicants who have a service animal. A pet deposit can be charged, and the amount cannot exceed 50% of one month’s rent. Nunavut Landlords may refuse to rent to pets and enforce “no pet” clauses for private rentals. Landlords cannot discriminate against those with disabilities requiring a service animal. The Residential Tenancy Act does not cover pet deposits, but security damage deposits can not exceed one month’s rent. Exceptions In Canada Nationwide, condominiums have their own by-laws and policies in place. It may not be up to the landlord to make the decision regarding having pets on the property. Ensure you read all rules and regulations regarding pet ownership at your condominium. Renting to tenants with dogs in British Columbia is vastly different from renting to pets in Ontario, and landlords should review the rules and regulations that apply to them. Balancing these rules with the benefits of renting to pets (LINK: to other pet article above) will enable landlords to make informed decisions on renting to pets across Canada. Always Screen Tenants With Pets Our tenant pre-screenings with credit and background checks allow tenants to provide landlords with descriptions and photos of their pets. Order your Tenant Report today to learn more about who is moving into your rental. Order a tenant report --- ### Northwest Territories 2025 Rent Increase Guidelines [Northwest Territories 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/north-west-territories/northwest-territories-rent-increase-2023/) Meta: Learn about the rent increase guidelines that landlords should know in 2025 for rental properties in the Northwest Territories. Date: February 11, 2022 Author: SingleKey Content: Are you contemplating raising your rent for a Northwest Territories property in 2025? If so, you’ll want to know the rules surrounding rent increases. Knowing how and when you can adjust your price to avoid legal trouble and conflicts with your tenants is vital as a landlord. In this guide, we’ll cover the ins and outs of rent increase laws for 2025 in the Northwest territories, including how high you can raise your price and how to notify your tenant. 2025 updates to Northwest Territories rent increase guidelines There’s no rent control in the Northwest Territories, meaning you can increase your rent for a residential unit as much as you wish in 2025.  However, some regulations limit how often you can do so. You can only increase your price once every 12 months. As per the Territories’ Residential Tenancies Act (RTA), a rent increase is allowed for 12 months following: The last increase in rent The date you first charged rent to your tenant You must give your tenant at least three months’ written notice of the new rent fee before it takes effect. Otherwise, the rent increase is invalid, and they’re legally entitled to a refund on the extra rent paid. The three-month notice requirement applies to both fixed-term and month-to-month leases.  Under the RTA, your tenant has the right to end the tenancy upon receiving the notice of rent increase. In other words, they can treat it as a lease termination notice and vacate the property. Should your tenant move out due to the higher rent fee, you must rent your property to a replacement tenant at the new price. The Northwest Territories government will deem the action an improper lease cancellation if you fail to do so. As a result, you may have to pay a penalty and provide financial compensation for the tenant who moved out.  How to raise rent in Northwest Territories: step-by-step process Below are the steps for raising the rent in the Northwest territories for fixed-term and periodic leases in 2025. Step 1: Determine your new rent price Though there's no limit to how high you can adjust your rent price in the Northwest Territories, figuring out what to charge for rent isn't always straightforward. It's important to strike a balance between profitability and market demand. In other words, your rent fee should allow you to earn a solid return on your property while remaining appealing to renters. First, evaluate your operating costs and capital expenditures. Calculate how much you've spent maintaining your rental unit and determine the rent you'll need to charge to cover the increased expenses. Have your property taxes, utilities expenses, and insurance premiums increased during the past year? If so, how much? Have you performed any renovations? If so, how long will it take you to recoup your investment? Next, assess the state of the local rental market. Check out what other landlords are charging for rent on properties similar to yours in terms of build, age, and amenities offered. Is the average rent fee rising, and if so, how sharply? Remember: tenant turnover can be costly in the long run, so always consider what someone would be willing to pay to live in your rental based on local demand. Step 2: Prepare the notice of rent increase In the Northwest Territories, you must inform your tenant of an upcoming rent increase in writing.   There's no government-mandated document you need to use to prepare your notice so long as it communicates the effective date of the new rent fee. Of course, it's also worth including other crucial details, primarily:  Your name and contact information The address of the rental unit The current rent amount Your signature and the date you created the notice Add a note to your rent increase notice highlighting why you're asking your tenants to pay more. Being honest and transparent about your new rent fee can go a long way in helping maintain a positive landlord-tenant relationship and encouraging lease renewals. Step 3: Notify your tenant of the rent increase Once your rent increase notice is ready to go, it's time to send it off to your tenant. By law, you must give them at least three months' notice when raising your rent, so make sure you deliver it on time. Consider visiting the property to deliver the notice in person or sending it via registered mail. Email is also fine, but follow up with your tenant to ensure they received it and that it didn't end up in their junk mail. Remember, the rent increase is considered unlawful if you don't notify your tenant within three months. As a result, the Residential Tenancies Office may issue a judgment requiring you to return all or part of the rent increase to your tenant. Resolving issues about rent control In cases where you cannot resolve a rent pricing conflict between you and your tenant, you can seek assistance from the Residential Tenancies Office. The organization will appoint a rental officer to hear your case and issue a judgment based on the Residential Tenancies Act and its regulations. Their decision has the same legal power as a Supreme Court order. To initiate the dispute resolution process under the Residential Tenancies Office, you must fill out and submit the form Application to a Rental Officer.  The Northwest Territories Government website contains additional information about preparing for a hearing, filing fees to pay, and appealing a decision made by the rental officer. Our final thoughts When it comes to rent increases, the Northwest Territories is landlord-friendly, as there are no rent control laws for residential rental units. You can raise your rent to whatever price you deem fit, provided you do so every 12 months.  That said, you're legally responsible for providing your tenant with at least three months' written notice before your new rent fees take effect. Take extra care in delivering your notice to ensure your tenant receives it before the deadline expires. For further details about the Northwest Territories rent increase laws, visit the Government of Northwest Territories website. --- ### Yukon 2025 Rent Increase Guidelines [Yukon 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/yukon/yukon-rent-increase-2023/) Meta: Discover the rent increase guidelines for 2025 that all Yukon landlords should know when raising rental payments with their tenants. Date: February 10, 2022 Author: SingleKey Content: If you're contemplating raising your rent in Yukon in 2025, it's essential to understand the region's rent control laws. These laws limit how much landlords can increase the rent over a specific period. If your rent fee exceeds this limit, you risk getting into legal trouble and becoming involved in a bitter dispute with your tenant.  Yukon's rent increase regulations are outlined in the Residential Landlord and Tenancy Act (RLTA), which dictates how high you can increase your rent price, how often you can do so, how to inform your tenant, and more. In this guide, we'll explain everything you need to know about these regulations, including the maximum amount you can raise your rent in 2025. 2025 updates to Yukon rent increase guideline The rent increase guideline in Yukon is 4.9%. In other words, 4.9% is the maximum amount you can raise your rent on a residential property in Yukon. For example, if your current rent fee is $1,600 monthly, your maximum increase is limited to $1,678. The 4.9% limit is effective from May 15, 2024, to May 15, 2025.  In most cases, you can increase your rent only once every 12 months, after the last legal rent increase or when your tenant moves in. You cannot adjust your price during the first year of the tenancy. For a rent increase to be valid, you must give your tenant at least three months' notice before it takes effect using a government-approved form.   If your rental property is a mobile home, the tenant can legally treat a rent increase notice as a notice to terminate the lease. If they wish to move out rather than pay the higher fee, they must advise you of their intention in writing within 30 days of receiving the notice.  However, they still have the right to change their mind and choose to stay instead of vacating the property. Assuming you agree with their decision, the tenancy can continue with the rent increase taking effect on the date conveyed in the notice.  As per the RLTA, the minimum notice requirements and timing of rent increases don't apply in cases where: You're raising your price due to the arrival of one or more additional tenants, and Such a rent increase is permitted under the lease agreement. The notice and timing requirements also don't apply to rental units where rent fee changes are tied to the tenant's income. How the Yukon rent increase guideline is determined As of May 15, 2021, the allowable rent increase in Yukon is limited to the change in the consumer price index (CPI) for Whitehorse in the previous calendar year. The Yukon Bureau of Statistics calculates the CPI for the city each year, which, in turn, determines the rent increase guideline. This guideline is reset every May 15. There are two exceptions to the above rule:  If the CPI was less than 2% for the prior year, you may raise your rent by up to 2%. If the CPI was more than 5% for the prior year, you may increase your rent by 5% at most.  Therefore, within the 2%-5% range, the maximum allowable rent increase will always equal the previous year's CPI. How to raise rent in Yukon: step-by-step process Below are the steps for raising rent on a Yukon residential property in 2025. These steps apply to both fixed-term and month-to-month leases. Step 1: Determine your new rent price Start by figuring out your ideal rent price. While this may seem straightforward, it requires a bit of research and number crunching. The amount you charge should enable you to cover any cost increases incurred during the past year while encouraging your tenant to renew their lease. First, assess how much you've spent on operating expenses in the current year compared to the previous year. Have your costs risen or fallen? If the former, calculate the total percentage change. Your new rent fee should match this amount at a minimum for you to maintain your current profit margin. Next, examine the state of the rental market in your area. Are other landlords who own properties similar to yours hiking their rent fees? If so, by how much on average? Knowing what your competition charges is crucial, as it will help you choose a price that renters are willing to pay. Step 2: Prepare the notice of rent increase for your tenant Once you've settled on your 2025 rent fee, it's time to notify your tenant of the increase. In Yukon, you must prepare your notice using the Notice of Rent Increase form. While not mandatory, it's worth including an extra note with your rent increase notice explaining why you're raising your rent. Your tenant may be surprised by the higher fee or want clarification on why you're asking them to pay more.  Step 3: Notify your tenant of the rent increase In Yukon, you're required by law to notify your tenant at least three months before raising your rent. Otherwise, the rent increase is considered unlawful, and they're not legally obligated to pay it. For this reason, it's important to choose a reliable method for delivering your notice. The Yukon Notice of Rent Increase form lists a few options:  Give it to your tenant in person Send it via registered mail Attach a copy in a visible location at the rental unit, such as the front door.  Resolving issues about rent control Most tenants won't object to a rent increase and will pay the new fee unquestionably. However, in rare instances, they may refuse to pay it, perhaps arguing that you failed to give them proper notice.  When you cannot rectify the issue with your tenant, you can seek assistance from the Residential Tenancies Office, which will hear your case and issue a judgment. The judgment is legally binding and enforceable by the Yukon Supreme Court.  To begin the process, complete an application form and submit it to the Residential Tenancies Office. Then, pay the $50 application fee or apply to have it waived. From there, the Residential Tenancies Office will arrange a date for a hearing so you can present your case. You’ll also receive documents with instructions on how to prepare for the hearing. The links below offer additional information about landlord-tenant dispute resolution process in Yukon: Resolve a landlord or tenant dispute Forms for landlords and tenants  Our final thoughts From May 15, 2024, to May 15, 2025, the maximum allowable rent increase in Yukon is 4.9%. This rate applies to all residential properties, regardless of whether the lease has a fixed term or runs month to month. You're limited to one rate increase every 12 months, and you must give your tenants at least three months' notice using an approved form before it takes effect.  For further details about Yukon's rent increase guidelines, visit the Government of Yukon website. --- ### Nunavut 2025 Rent Increase Guidelines [Nunavut 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/nunavut/nunavut-rent-increase-2023/) Meta: For landlords with rental properties in Nunavut, make the right preparations with our rent increase guidelines for 2025. Date: February 10, 2022 Author: SingleKey Content: Are you planning to raise your rent in Nunavut in 2025? If so, you'll first want to get acquainted with the region's residential tenancy laws. As a landlord, you're responsible for following all Nunavut's Residential Tenancies Act regulations, including those that pertain to rent increases. In this guide, we'll explain everything you need to know about Nunavut's rent increase laws, including how much you can raise your price, how to notify tenants, and how to settle a dispute with a tenant who refuses to pay your new fee. 2025 updates to Nunavut rent increase guidelines There’s no law in Nunavut that restricts how high landlords can raise their rent. As a result, you can legally increase your price to whatever amount you deem fit on a rental property in 2025.  That being said, there are regulations that restrict how often you can raise your price. Per the RTA, you're allowed only one rent increase every 12 months. More specifically, you can raise your rent 12 months after: The last legal rent increase The start date of the tenancy In addition, you must inform your tenant in writing of a rent increase at least three months before it takes effect. If you miss this deadline, your tenant can dispute your new price by applying with the Residential Tenancies Office. Most likely, they'll be entitled to a refund of the excess rent paid.  Your tenant can treat a rent increase notice as a lease termination notice. If that's the case, they must advise you of their intention to do so in writing and move out of the property on the day immediately before your new rent fee applies.  When you sign a lease with a replacement tenant, you must provide them with the notice intended for the old tenant and charge them rent at the increased rate. The rules for implementing a rent increase in Nunavut described above apply to fixed-term and month-to-month leases. How to raise rent in Nunavut: step-by-step process Below are the steps for raising the rent price for an Alberta rental property in 2025, both for fixed-term and month-to-month leases. Step 1: Determine your new rent price Begin by figuring out your deal rent price. While this may seem easy, it requires careful thought and a bit of number crunching. You need to choose an amount that'll allow you to earn a decent profit on the property while still being attractive to tenants. At the very least, your new rent fee needs to be high enough to cover your operating expenses, so tally up your total cost during the past year to see how much you've spent. Be sure to account for any renovations you've done, too, so you can recoup your investment. It's also critical to evaluate the state of the rental market where your property is located. How strong is the demand for rental units? Is the average monthly rate for rental units similar to yours rising or falling, and if so, how much? Your new rent fee should allow you to stay competitive locally and attract quality renters. Step 2: Prepare the notice of rent increase In Nunavut, you must inform your tenant of a rent increase to your tenant in writing ahead of time.  Unlike many regions in Canada, there's no government-approved form you need to use to create your notice. As long as it's in writing and indicates the amount of the rent increase and the date it takes effect, it's valid under Nunavut law.  Still, it's prudent to incorporate some other details the tenant would expect to see, including: Your name and contact information The address of the rental unit The current rent amount Your signature and the date you created the notice  In addition, it's worth explaining the reasons for the rent increase so that your tenant understands why they'll have to pay more in the new year. You can include details like a breakdown of the rise in operating costs, remodeling work you've performed, and examples of rental properties in the area with comparable rates. Step 3: Notify your tenant of the rent increase Once you've prepared your notice, the next step is to send it to your tenant. By law, your tenant must receive a rent increase notice at least three months before your new rent fee kicks in. How you deliver your message is up to you—email, in-person delivery, and registered mail are all good options. What's important is it reaches your tenant before the three-month deadline expires; otherwise, the rent increase is considered illegal, which means they don't have to pay it. Resolving issues about rent control Let's assume a dispute arises between you and your tenant, who refuses to pay your increased rent fee. In that case, you can ask the Residential Tenancies Office to help resolve it.  The Residential Tenancies Office will appoint a Rental Officer to hear your case and help you negotiate an agreement with your tenant. Should this effort fail to achieve a solution, the Rental Officer will arrange a hearing to assess the evidence further and issue a judgment. The judgment is legally enforceable under Nunavut law. Suppose you disagree with the decision made by the Rental Officer. In that case, you can appeal to the Court of Justice, provided you do so within 14 days of receiving it. To begin the dispute resolution process, fill out and submit the form Landlord's Application to a Rental Officer. Our final thoughts In Nunavut, you have maximum flexibility when raising your rent in 2025. The region has no rent control legislation, so you can adjust your price to whatever amount you wish.  However, you can increase your rent only once per 12-month period, and you must provide your tenant with at least three months' notice. If you fail to abide by these two rules, your tenant can dispute the rent increase through Nunavut's Residential Tenancies Office.  For further details about Nunavut's rent increase regulations, visit the Government of Nunavut website.  --- ### Newfoundland and Labrador 2025 Rent Increase Guidelines [Newfoundland and Labrador 2025 Rent Increase Guidelines](https://www.singlekey.com/en-ca/near-me/newfoundland-labrador/newfoundland-and-labrador-rent-increase-2023/) Meta: what you need to know as a landlord about Newfoundland and Labrador's 2025 rent increase guidelines. Date: February 9, 2022 Author: SingleKey Content: Are you planning to raise your rent in 2025 for a rental unit you own in Newfoundland and Labrador? If so, you’ll want to get acquainted with the province’s rent increase guidelines, which govern how and when landlords can increase the rental fee they charge to tenants. In Newfoundland, there are relatively few restrictions regarding rent increases. But there are some key rules you need to follow to ensure you comply with the province’s Residential Tenancy Act (RTA) and avoid legal trouble.In this guide, we’ll cover everything you need to know about raising your rent in Newfoundland in 2025, including the maximum price you can charge and how and when to notify your tenant.2025 updates to Newfoundland rent increase guidelinesIn Newfoundland, there’s no rent control, which means you can increase your rent price to whatever amount you wish. However, you’re limited to only one rate increase per year, regardless of the type of property you own and the nature of the tenancy. To legally raise your price, at least 12 months must have passed since your last increase or the date your tenant moved in. For a rent increase to be valid, you must provide written notice to your tenant using a government-approved form. The minimum notice required for fixed-term and month-to-month leases is six months. If your tenant pays rent weekly, you must inform them of a rent increase at least eight weeks before it takes effect.If you discontinue a service or accommodation that’s part of your lease, the action may be considered a rent increase. For example, let’s say you remove a malfunctioning washer and dryer unit from your property and choose not to replace it. In this case, the value of the reduction in the service is equivalent to raising your rent. The reason is that your tenant can no longer use and enjoy a benefit they previously had access to under the lease agreement.Rent increase exceptionsSuppose you add an extra amenity or benefit to your rental unit in 2025, such as a parking space. In this scenario, there’s no requirement to inform your tenant of a rent increase, provided they have agreed to this policy in writing beforehand.You can also raise your price more than once during 12 months under such an agreement. For example, if you make a parking space available in April 2025, you can subsequently raise your rental fee, even if you’ve already done so in January.How to raise rent by lease type: step-by-step processHere are the steps for raising the rent for a Newfoundland rental property in 2025 for fixed-term and periodic leases.Fixed leaseStep 1: Determine your new rent priceBegin by choosing your ideal rent price. Your new rent price should allow you to cover your operating costs, plus any renovations and upgrades. Calculate how much you spent maintaining your rental during the past year and determine what you need to charge to continue earning your current profit margin.In addition, consider price trends for rental units in your area before settling on your new rate. Are other landlords that own properties similar to yours increasing the amount they charge? If so, by how much? Choosing a price that reflects local rental prices will allow you to stay competitive while earning a tidy profit.Step 2: Prepare the notice of rent increaseIn Newfoundland, you must inform your tenant in writing that you're raising their rent under a fixed-term lease using this form, the Landlord's Notice to Increase Rent.Fixed-term agreements cannot be shorter than six months and cannot exceed 12 months.Provide details that explain the reasons behind the rent increase. For example, you can list your operating expenses and note how they've risen throughout the year or any remodeling work you've done to the property. If you can justify your new price with compelling arguments, your tenant will be less likely to challenge it.Step 3: Notify your tenant of the rent increaseOnce you've filled out the rent increase form, it's time to send it to your tenant. In Newfoundland, you must give your tenant a minimum of six months' notice before the effective date of your new rent fee. How you deliver your message is up to you, but you must ensure they receive it. Section 35 of the RTA provides a list of delivery options and criteria the court would use to determine whether you gave your tenant proper notice.Periodic leaseStep 1: Determine your new rent priceStart by determining a suitable rent price. While there's no limit to how high you can raise your rent in Newfoundland, resist the temptation to maximize your profit at the expense of your tenant. Your rental property should allow you to earn a solid income while remaining appealing to renters.First, tally up your operating expenses, such as property taxes, insurance, utilities, repairs, and capital expenditures. Have your costs risen? If so, how much would you need to raise your rent to offset the increased expenses you've incurred?Next, check out what your competition is charging in your community. Are rates for properties that resemble your rising or falling? What would be a reasonable price to charge based on local market conditions?Step 2: Prepare the notice of rent increase for your tenantIn Newfoundland, you must inform your tenant that you're increasing your rent. A written notice is required using the following government-approved document, the Landlord's Notice to Increase Rent.While not mandatory, it's worth adding a note to this form that outlines the reasons for the rent increase. Helping your tenant understand why you're asking them to pay more can minimize conflict and increase the chance of a lease renewal.Step 3: Notify your tenant of the rent increaseThe final step is to serve your tenant with the rent increase notice. You must provide at least six months' notice for a month-to-month tenancy. If your tenant pays weekly, you must give at least eight weeks' notice. You can submit your notice in various ways, as outlined in Section 35 of the RTA. Some options include email, registered mail, and in-person delivery at the rental unit. Whatever method you choose, be sure your tenant receives your notice on time; otherwise, the rent increase is invalid, and they don't have to pay it.Resolving issues about rent controlSuppose you become embroiled with your tenant about your new rent fee and cannot reach a mutually agreed solution. In that case, you can apply to the Residential Tenancies Office for assistance. To begin the process, you must fill out and submit an Application for Dispute Resolution form. The Residential Tenancies Office will help resolve the dispute through mediation or adjudication (a judgment resulting from the latter is enforceable through a court order).Our final thoughtsThere's no cap on how much you can raise your rent in Newfoundland in 2025, so you can charge whatever price you deem fit for your property. However, you're limited to a single rent increase every 12 months (unless there's a prior agreement with your tenant to implement additional increases should you add extra services to your lease). You must give your tenant at least six months' notice (or eight weeks' notice if they pay rent weekly) in writing using the appropriate form; otherwise, your new rent price is considered unlawful.Visit the Government of Newfoundland & Labrador website to learn more about the province's 2025 rent increase guideline, including how to settle disputes with tenants. --- ### How to Collect from a Tenant for Property Damage? [How to Collect from a Tenant for Property Damage?](https://www.singlekey.com/en-ca/near-me/ontario/how-to-collect-from-a-tenant-for-property-damage/) Date: December 7, 2021 Author: SingleKey Content: 1. Filing An L2 Application To Get Started To start, where a tenant causes damage to a landlord’s rental unit and has moved out, the landlord can complete and file an L2 Application with the LTB.  The LTB will then process the L2 Application set a hearing date and time.  Currently, these hearings and being held virtually (by video or telephone). Once the LTB sets a hearing date and time, the LTB will email or mail a Notice of Hearing to the landlord and then the landlord is required to serve a copy of the Notice or Hearing and L2 Application on each of the tenants named in the L2 Application.  In cases where the landlord does not have the tenant’s address information, there are other methods to serving the tenant such as calling the employer to confirm their employment or searching the Ministry of Transportation using the tenant’s driver’s license to find their current residence.  It is recommended that landlords have or find an address for their former tenant or tenants before filing their L2 Application because landlords may not have much time between getting the Notice of Hearing and the hearing date and time. In addition to the Notice of Hearing and L2 Application, a landlord must also serve each of the tenants with a complete copy of any evidence (videos, pictures, estimates, receipts, etc.) they intend to use at least 7 days before the hearing.  Download L2 Application PDF Download N4 Application PDF 2. Hearing Process During the hearing, both parties will have the opportunity to present evidence to a neutral Member (an Adjudicator). Following the hearing, both parties can expect to receive a written decision, otherwise known as an Order, from the LTB. 3. Collecting Payment Following A Judgement It is important to note that where the tenant is not employed but receives social assistance, a landlord cannot generally garnish this form of income to pay their Order. Alternatively, landlords do have the right to engage a collections agency as a method of collecting the outstanding amounts owing under an Order. Once the LTB releases an “Order” for the tenant to pay, landlords can collect the outstanding amount and enforce the LTB’s Order by filing the Order along with Garnishment(s) or other processes (for example, a Notice of Examination, Writ of Seizure and Sale) with the Small Claims Court office closest to where the former tenant resides. A Notice of Garnishment is made against the tenant’s employer or bank branch where the tenant has active accounts. In such cases, where the tenant is found to owe money to a landlord, Notice of Garnishment requests that the tenant employer or bank transfer the money to the court and the court pays the landlord.  Alternatively, and in the case of a Notice of Examination, this process can be used to compel a former tenant against which an Order has been made, to come to Court and answer questions regarding the former tenant’s assets, income, banking, etc.  The information obtained during an Examination can be used for subsequent Garnishments and Writs of Seizure and Sale. In certain cases, it can be beneficial to seek out additional legal assistance to deal with this process. In circumstances where the tenant owes between $1,000 – $2,000 of damages, it might not be worth hiring a paralegal to reclaim these expenses as the paralegal fees start at about $900. Where the damages are worth 4-5k of damages, seeking additional assistance becomes more profitable.  Avoid Bad Tenants with SingleKey’s Tenant Reports Get started Credit for this article to: Thomas Schoenleber, Licensed Paralegal. Reach out to Thomas at Sterling Paralegal for your paralegal needs. http://sterlingparalegal.ca --- ### The New Ontario Standard Lease Agreement – 5 Things Every Landlord Should Know [The New Ontario Standard Lease Agreement – 5 Things Every Landlord Should Know](https://www.singlekey.com/en-ca/near-me/ontario/the-new-ontario-standard-lease-agreement-5-things-every-landlord-should-know/) Date: January 1, 2021 Author: SingleKey Content: However, this standard residential tenancy agreement in Ontario was not mandatory and could be modified and altered by landlords, and such modifications and amendments were common practice. In December 2020, the Ontario government released an updated standard lease agreement template to account for RTA changes that were introduced in July 2020 by Bill 184. This new standard lease will require landlords to use 15 standard clauses and limits their ability to amend, disregard and add new clauses to the contract, limiting their ability to negotiate with the tenant.What Is The Point Of This New Ontario Lease Agreement?The point of the new lease agreement is to prevent residential landlords from including illegal and therefore, unenforceable clauses in the standard lease agreements. The intention was to create a standard framework that both large and small landlords could use. The new lease template also makes things more transparent, and clearer between landlords and tenants because now, both parties will be familiar with what is in the document, where to find the total rent, what is included and excluded from the tenancy agreement. Additionally, the new residential tenancy agreement seeks to introduce the changes made by Bill 184. Ultimately, the new Ontario residential tenancy agreement is an attempt at levelling the playing field between landlords and tenants since there’s an otherwise unbalanced rental market due to the giant gap in negotiating powers between both parties.5 Things to Know about the New Ontario Standard Lease1. Changes To The New Ontario Standard Lease AgreementThere are practical changes that will take effect with the new Ontario lease agreement in 2021.Requesting A Copy Of The LeaseThe new lease agreement includes a provision that says a tenant can request a copy of the lease agreement from the landlord. If the landlord does not supply the lease agreement to the tenant within 21 days, the tenant can withhold 1 month’s rent. If the landlord does not produce it after 1 month, the tenant does not have to pay the landlord that outstanding months’ rent. Where the landlord never gives the tenant a copy of the lease agreement, the tenant can terminate the lease agreement by serving the landlord with 60 days’ notice.No AlterationsLandlords can no longer alter or change the new template. The new agreement contains 15 mandatory sections that must be included in the agreement and cannot be removed or altered in any way. The purpose of this is to prohibit landlords from making unfair changes or assigning illegal clauses that apply to the tenant.Additional Terms SectionThere is a section at the end of the lease agreement that allows landlords to attach documents with additional terms. Here landlords can add additional terms to the lease agreement but only with the tenant’s consent. It is important to note that where there is any inconsistency with the standard 14 clauses in the new lease agreement, the standard clauses will take precedence over any terms added by the landlord, which, in the case of conflict or overlap, will be viewed as illegal and therefore void. This is different from the approach seen in the previous rental agreement form because now this is the only section where landlords can add additional terms.Increased Fines For LandlordsAs enacted by Bill 184, this new lease includes an increase in fines issued to landlords if they evict tenants unlawfully or give notices of termination in bad faith. Part D outlines the increased fines payable by landlords where landlords unlawfully evict tenants. If convicted, an individual landlord could face fines of up to $50,000.Other Changes To The Ontario Rental Agreement FormAlong with these significant updates to the standard lease, the following is further clarified in this new form:Landlords no longer have to serve new tenants with the “electricity consumption” form for sub-metered units.Additional grounds for ending tenancy added in Part D including for landlord’s own use.If a tenant rents the entire unit to a third party (e.g. Airbnb), that person is not considered a “guest” and the landlord’s permission may be required.The “Post November 15, 2018” rent control exemptions are now clarified in Part I.The Most Significant Updates To The New Ontario Standard Lease Agreement Are:Tenants can request a copy of the lease agreement from the landlord and can withhold rent if the landlord doesn’t provide it.Landlords can no longer alter or modify the standard lease agreement.A new “additional terms” section allows landlords to add further clauses and documents to the rental agreement, with the tenant’s consent. However, the main 15 clauses take precedence over these additional terms.Increase in fines issues to landlords if they evict tenants unlawfully or give notices of termination in bad faith.2. What Properties Does This New Ontario Standard Lease Agreement Apply To?The new lease agreement applies to all residential units in Ontario. This includes but is not restricted to condos, houses, basement units, and apartments. Those exempt from the Residential Tenancies Act are not required to use this new lease format. This includes care homes, mobile home parks, lease communities and most social housing.3. When Does The New Ontario Standard Lease Agreement Take Effect?The new Ontario lease takes effect on March 1st, 2021. This does not mean that landlords and tenants who have already signed a lease agreement before this date are required to sign a new lease. Until February 28th, 2021, landlords and tenants can use the old version of the standard lease agreement and it will remain valid. However, it is important to note that any clauses in the lease agreement that are not standard clauses or are clauses that may appear to be illegal in nature, will automatically become void as of March 1st. This could mean that any clauses added within the body of the lease (and not within the “additional terms” section) could automatically become void as they would not abide by the new rules.4. What Might Happen If I Am Not Using The New Ontario Standard Lease Agreement?It’s important for landlords to know that any lease agreement made prior to March 1st will be permitted to remain effective and will not automatically become void. This is good news because landlords will not be required to re-sign their already existing tenants to a new lease.Additionally, there are no penalties given by the Residential Tenancy Act, and by extension, the LTB, for landlords who do not properly use the standard lease. However, landlords should be aware that where there is a failure to use the proper form, the tenant can possibly break a fixed-term lease early. So it’s best to start using the new standard lease template before the March 1st deadline.5. Where Can I Find A Copy Of The New Ontario Standard Lease Agreement?If you are interested in finding a copy of the new Ontario standard lease agreement that takes effect in March 1st 2021, please visit SingleKey Lease Templates to find a downloadable copy of the lease agreement. Download free lease agreement templates  Not ready to sign a lease yet? Put your mind at ease by screening prospects using a Tenant Report, or guaranteeing your rent.Contact us at info@singlekey.com to learn more. --- ### How Bill 184 Affects Landlords in Ontario [How Bill 184 Affects Landlords in Ontario](https://www.singlekey.com/en-ca/near-me/ontario/how-bill-184-affects-landlords-in-ontario/) Date: July 24, 2020 Author: SingleKey Content: Here Is A Summary Of The Key Points That You Need To Know As A Landlord For Bill 184: Bill 184 now allows landlords to retrospectively seek compensation from tenants who have remained in a unit longer than agreed, even after they have left.  Tenants who have been paying an improperly increased rent amount are not permitted to make a claim if they have already paid the raised rent price for 12 months.  Landlords will now receive hefty punishments where they are found to have acted in bad faith with a tenant.  Landlords will be required to include a sworn affidavit as part of their application to the LTB to terminate a tenancy.  Landlords can now negotiate repayment plans with the tenant as opposed to using the LTB to do so and can more easily evict a tenant who does not uphold this agreement. The main opposition to the passing of Bill 184 is the tenant community. Many tenant rights activist groups are of the belief that this bill takes aim at individuals who have suffered heavily from the pandemic, the working class. This new piece of legislation has been perceived as giving landlords the power to pressure tenants to move out of a unit without any oversight by the Landlord and Tenant Board (LTB). Further, tenants are even more concerned that the bill fails to include a way for tenants to legally oppose the eviction. Ultimately, those who oppose the bill, see it as a collection of landlord favouring amendments to the Residential Tenancy Act that look to displace tenants. One of the main focus of this bill is to deal with the backlog at the LTB by forcing tenants and landlords to cooperate. Bill 184 does provide some benefit to landlords; however, this is only because residential landlords are among the most vulnerable people affected by the pandemic and many are in need of immediate relief.  Many landlords have tenants who can no longer make rental payments. In such cases, landlords are forced to carry the expense, resulting in thousands of dollars lost every month.   Ultimately, as a result of the unaffordable expense of affording multiple homes, these landlords are forced to offload real estate they can no longer afford to pay off outstanding mortgage payments. Bill 184 does a decent job of providing minimal liberation by allowing landlords to act more hastily and less bureaucratically.  Below we have outlined in more detail the changes that can be expected from Bill 184 that most affect landlords:  More Power Against Over-Holding Tenants Under the current compensation scheme for landlords in the Residential Tenancies Act, landlords have the power to apply to the LTB to seek compensation for rental arrears from are tenants who overhold a unit. Overholding means tenants who have occupied a unit for longer than agreed upon. Landlords can also claim for damage caused to a rental unit where a tenant remains in possession of the rental unit beyond the expiry of the lease.  Bill 184 expands this same power to allow landlords to make a claim to the LTB even after the tenant has vacated the unit. Provided that the claim is made within 12 months of the date the tenant vacates the unit, landlords can receive full compensation. Bill 184 further proposes that landlords are permitted to apply to the LTB to claim compensation (up to 12 months after the tenant has vacated the unit) from a tenant where the tenant interferes with another tenant’s ability to enjoy their rental unit and from a tenant who has not paid utilities.  In such cases, what was once intended to be a profitable investment for a landlord, would then have become a financial nightmare. This amendment allows landlords to retrospectively claim for lost rent or unpaid utilities suffered by a landlord including compensation for not being able to have new renters occupy the unit.  Conclusively, landlords who have lost rental income, utilities payments, or damages from overstaying tenants can now seek compensation even after the tenant has left the unit.   New Rules for Rent Increase According to the Residential Tenancy Act, a tenant (past or present) can file an order with the Landlord Tenant Board requiring that a landlord repay a tenant any money the landlord may have collected as a result of an improper rent increase. This means where a landlord increases the rent without serving the appropriate notice of a rent increase or increasing the rent above the appropriate amount set out by the Ontario Ministry of Housing and Municipal Affairs in the respective guidelines. This order must be filed within 12 months of the date of the illegal rent payment.  Bill 184 adds to the current laws by stating that, where a tenant has already paid the improperly increased rent amount for a minimum of 12 consecutive months, then a tenant cannot seek reimbursement for such an improper rent increase. This new change applies so long as the tenant did not make an application to the LTB challenging the validity of that rental increase within one year from the first charge was made.  Ultimately, landlords and prospective lenders and purchasers are given peace of mind. Rent payment amounts are no longer subject to challenge by any tenant where they have consistently been paid for a minimum of one year.  Increased Punishment for Landlords and Corporations  Under the current state of the law, the Landlord and Tenant Board can conclude that a landlord has acted in “bad faith” when terminating a tenancy. This includes cases where a tenancy is unfairly terminated for a landlord’s personal use, purchaser’s personal use, or for demolition, conversion or substantial renovations to the unit. Under these circumstances, a landlord can be ordered to make payment to the tenant. Pre-Bill 184, landlords could be ordered to compensate a tenant for any portion of increased rent that the former tenant has incurred or will incur from moving into a new unit for a one-year period after vacating the previous rental unit. Landlords could also be forced to pay for reasonable expenses incurred by the tenant including moving and storage. Finally, a landlord can receive an additional administrative fine of up to $35,000. Bill 184 increases the maximum potential penalty that a landlord can suffer when acts are carried out in bad faith. This is because the bill looks to allow landlords more power to deal with removing a tenant. However, the LTB will now have the discretion to force the landlord to compensate the wronged tenant for a maximum of 12 months’ worth of missed rent where they are found to have acted in “bad faith”.  In relation to corporations, Bill 184 looks to increase the maximum penalty that can be imposed on corporations that are found liable for breaches under the Residential Tenancies Act. These fines will be increased from a maximum of $100,000 to $250,000.  Therefore, this increase in punishment that a landlord may suffer serves the needs of tenants as it acts as a deterrent for landlords acting unfairly. Landlords should be cautious as the new regulations subject landlords to paying a much heftier sum than what was previously imposed on landlords. This is in addition to the administrative fine that landlords may be subject to paying.  Ending A Tenancy Better Come With A Good Reason When landlords apply to terminate a tenancy agreement, Bill 184 will require a landlord to attach a sworn affidavit outlining and explaining the reasons in detail for the termination to the LTB. This means declaring reasons for termination including, a landlord wanting to use the unit for personal use, or planned demolition, conversion or renovations to the rental unit. Additionally, the landlord is required to indicate in the affidavit whether he or she has served any notice of termination in respect of the same or another rental unit, within 2 years prior to filing the present application.  With the new addition to the Residential Tenancies Act 2006, the LTB will be encouraged to take a landlord’s history of serving termination into account when concluding whether or not the landlord has acted in good faith. The amount of previous termination requests filed by a landlord will act as an important indicator as to whether landlords truly have sufficient and substantial reason to end a tenancy.  The effect of deterring landlords from ending lease agreements and terminating tenancies for disingenuous reasons is to the benefit of tenants. The LTB will now have access to additional evidence to use in favour of tenants.  This new amendment coupled with the increased fines means landlords are to be more cautious when ending tenancies. Where ending the tenancy does not align with the affidavit or is found to serve another purpose, landlords will be subject to hefty fines for acting in “bad faith”   Bypassing the LTB One of the biggest points of contention between the landlord and tenant communities is the proposed changes to the way landlords can address the issue of tenants not paying rent.   Currently, disputes between landlords and tenants over rent arrears can only be addressed by the LTB. This has contributed to the extreme backlog of cases in the LTB. Pre- pandemic, eviction hearings and cases in the LTB could take an average of 3 months to be heard.  Bill 184 aims to provide some relief, or at the very least not make the situation at the LTB worse. It allows disputes over rent between tenants and landlords to be negotiated without LTB intervention. Landlords can bypass the LTB and are encouraged to offer a repayment plan directly to tenants, something that was originally the responsibility of the LTB. For this repayment plan to be in good faith, it should be formulated following some form of discussion and negotiation with the tenant as, in theory, the plan is to the benefit of both parties. Additionally, this new change will allow landlords to claim for lost rent and remove tenants who have been withholding payment retroactively. Where the tenant refuses the repayment plan, or accepts and fails to uphold it, this constitutes sufficient grounds for the landlord to evict the tenant.  Landlords and tenants are forced to work together to reach a solution where the landlord can expect some percentage of rent to be paid regularly, while also taking into account the difficulties that a tenant may be having to repay the rent.  The introduction of increased compensation for tenants for evictions done in “bad faith” as discussed above, restrict landlords from imposing unfair repayment plans on tenants. Having to compensate a tenant for up to 12 months’ worth of missed rent in Ontario will cost the average residential landlord substantial financial hardship. Tenants are also given the right to appeal to the LTB where they believe their repayment plan or eviction was handled unfairly. The alternative to Bill 184, which is the current state of affairs, is for landlords to have to continue to shoulder the burden of tenants who continue to not pay rent.   Conclusively, Bill 184 allows landlords to act with more urgency than being forced to wait in a three-month long line at the LTB. However, this solution does not protect landlords from having to shoulder thousands of dollars’ worth of lost rent as the repayment plan must be given a fair chance to work before steps can be taken to remove the tenant.   The Current State Of Bill 184 What this bill means for tenants and landlords is that, there is to be expected a drastic change to the Residential Tenancies Act that aims to force landlords and tenants to communicate, compromise and work together.  While this new amendment to the RTA looks to provide relief for the LTB, the truth of the state of affairs at the LTB is that they face backlog and a lack of organisation that this bill fails to address. There are still many steps in between tenants not paying rent and a tenant being evicted including negotiating a payment plan and providing the tenants a chance to pay out on their repayment plan. These new amendments do not protect the average landlord from suffering thousands of dollars, and several months’ worth of missed rent. Additionally, claims for damage (on top of lost rent), brough against a tenant can still be expected to eat up landlord time and money because of the ongoing pandemic.  As a result of the increased risk that comes with being a renter, many landlords are turning to insurance options such as SingleKey to guarantee rental income and protect landlords from delinquent tenants. The SingleKey Rent Guarantee provides landlords peace of mind knowing that they will are protected against tenants who do not pay the rent and who may damage their property. --- ## FR-CA Pages ### Politique de confidentialité [Politique de confidentialité](https://www.singlekey.com/fr-ca/politique-de-confidentialite/) Date: July 10, 2024 Author: SingleKey Content: Politique de confidentialité Publié le 18 octobre 2021 | Mis à jour le 23 juin 2022 La protection de vos informations privées est notre priorité. La présente déclaration de confidentialité s'applique au site Web https://www.singlekey.com de SingleKey (ci-après dénommé "site Web") et régit la collecte et l'utilisation des données. Pour la présente politique de confidentialité, sauf indication contraire, toutes les références à SingleKey comprennent https://www.singlekey.com. De même, dans la présente politique, les termes "nous", "notre", "nos" font référence à SingleKey et au site Web. Les termes "Utilisateur", "vous", "votre", se réfèrent à la personne qui visite le site web et peuvent inclure le bailleur et le demandeur. Le terme "propriétaire" s'adresse spécifiquement à la personne qui visite le site Internet SingleKey pour passer commande d'un rapport. Le terme " Rapport " se rapporte au rapport généré par Equifax Canada à l'égard d'un locataire et partagé avec le propriétaire par le biais de la plateforme SingleKey, à condition que le propriétaire ait obtenu le consentement écrit du locataire pour recevoir ce rapport et les renseignements personnels qu'il contient. Le terme "locataire" ou "demandeur" désigne la partie dont les informations personnelles sont collectées pour produire un rapport. En utilisant le site web de SingleKey, vous acceptez les pratiques en matière de données décrites dans la présente déclaration. Quelles sont les informations que nous recueillons ? SingleKey recueille des "informations personnelles" auprès des candidats qui visitent le site Web de SingleKey. "Informations personnelles" : toute donnée ou information personnelle permettant d'identifier, de relier ou de décrire directement ou indirectement un utilisateur individuel. SingleKey recueille également des "informations ambiguës", c'est-à-dire des données qui ne sont pas liées à une personne ou qui ne permettent pas de l'identifier, mais qui sont tout de même recueillies auprès des utilisateurs. Notre service ("Service") exige que nous collections, stockions, demandions, transférions et partagions des "informations personnelles" sur les utilisateurs qui visitent le site web et demandent un rapport. SingleKey utilise des services de paiement tiers pour traiter les paiements relatifs aux services SingleKey (y compris, mais sans s'y limiter, la collecte des loyers, les rapports et le programme de garantie des loyers). SingleKey ne stocke pas les informations de paiement des utilisateurs directement sur les serveurs de SingleKey. Les informations de paiement sont stockées sur des sites tiers. Quelles informations l'utilisateur fournit-il à SingleKey ? Pour acheter un rapport sur le site web de SingleKey, nous demandons à l'utilisateur de soumettre certains éléments d'information personnelle afin de finaliser l'achat. Cela comprend la date de naissance du demandeur, son numéro de sécurité sociale (si la juridiction américaine est engagée), son permis de conduire, l'adresse actuelle de sa résidence, son prénom, son nom, son adresse électronique, son numéro de téléphone et les informations relatives à la facturation et au paiement. Le candidat aura la possibilité de remplir un formulaire standard de demande de location en ligne pour fournir des informations supplémentaires s'il le souhaite. L'indication du numéro d'assurance sociale du candidat est facultative (les six premiers chiffres de votre numéro d'assurance sociale ou de votre numéro de sécurité sociale seront supprimés). Le propriétaire doit fournir son nom complet, son numéro de téléphone, son permis de conduire, l'adresse du bien géré et le nombre de biens gérés. En fournissant ces informations à SingleKey, au site Web ou à tout membre du personnel, vous nous autorisez expressément à utiliser ces informations selon les besoins. Les informations privées sont collectées et distribuées conformément à la législation applicable en matière de protection de la vie privée et à d'autres lois en vigueur au Canada. SingleKey peut également recueillir des informations démographiques anonymes, qui ne vous sont pas propres, telles que votre âge et votre sexe. Nous pourrons recueillir d'autres informations personnelles ou non personnelles à l'avenir. SingleKey fait appel à des tiers tels que des banques et des agences d'évaluation du crédit pour recueillir vos données auprès des institutions financières. En utilisant notre service, vous accordez à SingleKey et aux tiers qui lui sont associés le pouvoir et l'autorité d'agir en votre nom pour accéder à vos informations personnelles et financières et les transmettre à l'institution financière concernée. Quelles informations SingleKey fournit-elle à l'utilisateur ? SingleKey fournit le rapport à l'utilisateur. Le rapport comprend des données fournies par Equifax Canada (ou d'autres "agences de renseignements tierces") concernant le demandeur, ainsi que toute autre information que le demandeur peut fournir sur une base volontaire. Les informations comprennent, sans s'y limiter, les éléments suivants : Les antécédents de crédit du demandeur, les rapports de crédit, les transactions financières, les rapports de casier judiciaire, le dossier de véhicule à moteur, les profils sociaux et comportementaux, les agences gouvernementales, les agences de police, les publications de nouvelles, les bases de données des tribunaux publics, les liens avec les médias sociaux, la vérification de votre résidence précédente, l'emploi, et l'éducation du demandeur. Ces informations ne sont partagées avec l'utilisateur que si le demandeur consent à ce que SingleKey obtienne ces informations auprès de l'agence de déclaration tierce concernée et les communique ensuite à l'utilisateur. Quelles sont les informations collectées automatiquement ? Lors de l'utilisation du site Web, SingleKey recueillera automatiquement les informations nécessaires au fonctionnement et à l'exploitation de nos services, telles que des informations sur votre matériel informatique et vos logiciels. Ces informations peuvent inclure, sans s'y limiter, l'adresse de l'utilisateur, le type de navigateur, les noms de domaine, les temps d'accès et les adresses des sites web de référence. Ces informations sont utilisées pour le fonctionnement du service, pour maintenir la qualité du service et pour fournir des statistiques générales concernant l'utilisation du site Internet SingleKey. SingleKey encourage tous les utilisateurs à examiner les déclarations de confidentialité des sites Web vers lesquels vous choisissez d'établir un lien à partir de SingleKey, afin de comprendre comment ces sites Web collectent, utilisent et partagent vos informations. SingleKey n'est pas responsable des déclarations de confidentialité ou autres contenus des sites Web extérieurs au site Web de SingleKey. Comment utilisons-nous vos informations ? SingleKey recueille des informations personnelles auprès des utilisateurs qui saisissent ces informations sur notre site Web pour acheter un rapport. SingleKey recueille et utilise vos informations personnelles pour exploiter le(s) site(s) Web et fournir les services que vous demandez. SingleKey se réserve le droit d'utiliser les informations personnelles pour informer les utilisateurs d'autres produits ou services disponibles auprès de SingleKey et de ses sociétés affiliées. SingleKey peut également vous contacter par le biais des coordonnées que vous avez fournies afin de mener des recherches sur votre opinion concernant les services actuels ou de nouveaux services potentiels qui pourraient être proposés. SingleKey peut garder trace des pages du site Web que nos utilisateurs visitent au sein de SingleKey, afin de déterminer quels services de SingleKey sont les plus populaires. Ces données sont utilisées pour fournir un contenu et une publicité personnalisés au sein de SingleKey aux clients dont le comportement indique qu'ils sont intéressés par un domaine particulier. En outre, SingleKey peut utiliser vos informations personnelles à diverses fins, notamment : gérer, administrer, collecter ou faire respecter d'une autre manière les comptes SingleKey ; pour envoyer des mises à jour de produits ou des informations sur la garantie ; pour répondre aux demandes de service des clients ; pour vous envoyer des bulletins d'information et/ou des communications marketing ; pour répondre à vos questions et préoccupations ; pour effectuer des recherches et des analyses, y compris des analyses statistiques ; vérifier l'identité des propriétaires et des locataires qui utilisent nos services ; communiquer avec les propriétaires, les locataires et les tiers concernés ; d'obtenir, d'examiner et d'analyser les informations contenues dans les rapports des consommateurs ; de divulguer des informations sur les rapports de consommation (obtenues auprès d'agences de renseignements tierces) aux propriétaires, lorsque le consentement du locataire a été obtenu ; pour procéder au paiement des services ; de rechercher et de résoudre les inexactitudes dans les informations que nous avons obtenues ; fournir, maintenir et améliorer le service et le site web, y compris le compte SingleKey de l'utilisateur ; de contrôler, d'examiner et d'améliorer le service à la clientèle et les processus opérationnels internes ; pour vérifier ou enquêter sur l'utilisation de nos produits et services, et pour détecter, enquêter et prévenir la fraude ou d'autres activités illégales ; pour suivre et analyser les tendances et l'utilisation des services et du site web ; offrir et fournir des produits et services SingleKey ; et pour afficher un contenu basé sur vos centres d'intérêt ; Vous pouvez refuser de nous fournir vos informations personnelles ; cependant, certaines informations personnelles sont nécessaires pour fournir certains services. En conséquence, si vous refusez de nous fournir les informations personnelles requises, nous pourrions ne pas être en mesure de vous fournir les services. Notre site web peut inclure des liens vers des sites web de tiers ainsi que du contenu et des applications hébergés et servis par des tiers. En cliquant sur ces liens, ces tiers peuvent collecter vos informations personnelles. Si vous suivez un lien vers le site web d'un tiers, veuillez consulter la déclaration de confidentialité de ce tiers pour obtenir des informations sur le type d'informations personnelles qu'il recueille, sur la manière dont il les utilise ou les divulgue, ainsi que sur ses pratiques en matière de protection de la vie privée. Comment partageons-nous vos informations ? Nous partageons vos informations personnelles aux fins suivantes : pour fournir des services de sélection aux propriétaires et d'autres services connexes à nos clients ; gérer, administrer, collecter ou faire respecter d'une autre manière les comptes SingleKey ; à nos fournisseurs, agents ou autres organisations ou personnes sous contrat avec SingleKey pour exécuter des services ou des fonctions en notre nom, lorsqu'ils ont besoin d'informations pour nous aider à fournir le service et le site web et/ou pour créer, offrir ou améliorer nos produits et services (ces informations sont limitées au nom, à l'adresse de l'unité de location et aux informations de contact) ; le traitement des paiements par nos prestataires de services de paiement tiers ; d'enquêter ou d'aider à enquêter sur : (a) la violation d'une loi et/ou des activités frauduleuses ; ou (b) les violations de la présente politique de confidentialité ou de nos conditions d'utilisation ; et si SingleKey est impliqué dans une fusion, une acquisition ou une vente de tout ou partie de ses actifs, nous pouvons divulguer et/ou transférer des informations personnelles à notre successeur ou cessionnaire, qui peut collecter, utiliser et divulguer les informations personnelles à des fins essentiellement identiques à celles décrites dans la présente politique de protection de la vie privée. En fournissant des informations personnelles à SingleKey, vous acceptez et consentez à ce que nous puissions collecter, utiliser et divulguer vos informations personnelles conformément à la présente politique de confidentialité. Si vous n'êtes pas d'accord, vous êtes prié de ne pas fournir d'informations personnelles à SingleKey. Vous êtes libre de refuser ou de retirer votre consentement à tout moment. Il se peut que nous ne soyons pas en mesure de vous offrir des produits, des services ou des informations connexes de SingleKey si vous choisissez de ne pas nous fournir les informations personnelles requises. Outre le consentement que vous donnez lorsque vous soumettez des informations, nous pouvons également, de temps à autre, recueillir des consentements ou des autorisations écrits plus spécifiques. Il existe des circonstances dans lesquelles l'utilisation et/ou la divulgation d'informations personnelles peut être justifiée ou autorisée, ou dans lesquelles SingleKey est obligée de divulguer des informations sans consentement, y compris, mais sans s'y limiter, dans les circonstances suivantes : Lorsque la loi ou une décision d'un tribunal l'exige, par exemple pour se conformer à une citation à comparaître ou à une procédure ou demande légale ou réglementaire similaire ; Lorsque SingleKey estime que la divulgation est nécessaire pour protéger les droits, la vie privée, la sécurité ou la propriété de SingleKey, de nos utilisateurs ou d'autres personnes ; Lorsqu'il est nécessaire d'établir ou de percevoir des redevances ; Lorsqu'il est nécessaire de permettre à SingleKey d'exercer les recours disponibles ou de limiter les dommages que SingleKey pourrait subir ; ou Lorsque l'information est publique. Lorsque SingleyKey est obligé ou autorisé à divulguer des informations sans consentement, il ne divulguera pas plus d'informations que nécessaire. Opt-In / Opt Out Si vous souhaitez refuser que vos informations personnelles soient communiquées par SingleKey à des entreprises et fournisseurs tiers, veuillez nous envoyer un courrier électronique à l'adresse info@singlekey.com. Nous respectons votre vie privée et vous donnons la possibilité de refuser de recevoir des annonces concernant certaines informations. Les utilisateurs peuvent refuser de recevoir tout ou partie des communications de SingleKey en nous envoyant un courrier électronique à l'adresse info@singlekey.com. Comment protégeons-nous vos informations personnelles ? SingleKey protège vos informations personnelles contre tout accès, utilisation ou divulgation non autorisés. Lorsque des informations personnelles (telles que des informations de paiement) sont transmises à d'autres sites web, elles sont protégées par l'utilisation d'un cryptage, tel que le protocole Secure Sockets Layer (SSL). Combien de temps conservons-nous les informations que nous recueillons ? SingleKey conserve les informations personnelles et les informations ambiguës fournies par le biais du site Web pendant 90 jours avant de les supprimer. Les propriétaires ont accès aux rapports qu'ils commandent pendant 90 jours avant qu'ils ne soient supprimés de leur compte SingleKey. SingleKey conserve un enregistrement des rapports commandés dans notre base de données, au cas où nous aurions besoin d'accéder à nouveau à ces rapports. Quelles informations SingleKey recueille-t-elle auprès de tiers ? SingleKey recueille des informations personnelles et ambiguës auprès de plusieurs sources tierces. La manière dont SingleKey recueille, distribue et utilise ces informations est déterminée par les conditions énoncées dans le présent document ainsi que par les conditions de confidentialité figurant sur le site Web de la source tierce. Les fournisseurs tiers ont le droit de vous envoyer leurs cookies et balises pixel et peuvent collecter des informations et les utiliser d'une manière incompatible avec la politique de SingleKey, mais qui peut être compatible avec leur propre politique. C'est pourquoi tous les utilisateurs devraient consulter les politiques de confidentialité de ces tiers pour comprendre comment vos informations peuvent être collectées, utilisées et divulguées par ces tiers. Information sur le crédit et agence tierce SingleKey fait appel à d'autres agences de reporting tierces qui ont accès à tous les éléments de notre rapport et nous les fournissent. Plus précisément, nous nous appuyons sur des informations personnelles et de crédit ("informations du rapport du consommateur") fournies par Equifax(https://www.equifax.com/privacy/ ) pour générer un rapport. Ainsi, étant donné qu'Equifax génère toutes les informations de crédit ou les informations personnelles relatives aux utilisateurs, il est important pour les utilisateurs de lire et de comprendre les conditions de confidentialité de l'agence d'évaluation du crédit tierce à laquelle leurs informations sont soumises. Google Analytics Pour mieux comprendre les utilisateurs qui visitent notre site Web, SingleKey déploie des cookies fournis par Google Analytics (https://support.google.com/analytics) pour nous aider dans cet aspect de notre service. Ces cookies collectent les adresses IP des utilisateurs ainsi que leurs données d'utilisation, y compris, mais sans s'y limiter, le temps qu'un utilisateur passe sur une page et les pages qu'il visite. A partir des informations utilisées, ce service permet à SingleKey de compiler des données sur le trafic du site web et l'interaction d'un utilisateur avec le site web. L'objectif principal de Google Analytics est de permettre à SingleKey d'offrir les meilleures expériences possibles. Cookies et données du site web Des cookies, des balises web, des pixels ou d'autres technologies peuvent être utilisés par SingleKey par le biais du site web. Les cookies peuvent aider les fournisseurs de sites à comprendre comment les gens utilisent un site, en se souvenant des détails de connexion d'un utilisateur et en stockant les préférences du site. SingleKey peut utiliser des cookies pour une ou plusieurs des raisons suivantes : Les cookies strictement nécessaires sont des cookies indispensables au fonctionnement du site web. Les cookies de fonctionnalité sont des cookies utilisés pour reconnaître les utilisateurs lorsqu'ils reviennent sur nos sites Web et permettent à SingleKey de personnaliser l'expérience en ligne des utilisateurs (par exemple, en se souvenant de votre choix de langue ou de région). Les cookies analytiques aident SingleKey à recueillir des informations sur les zones visitées sur les sites web afin d'évaluer et d'améliorer l'expérience de l'utilisateur et les sites web. Les cookies publicitaires permettent à SingleKey d'afficher des publicités correspondant à vos intérêts en fonction de votre activité sur le site Web. Vous pouvez choisir de ne pas accepter les cookies en ajustant les paramètres de votre navigateur. Si vous choisissez de ne pas accepter les cookies, certaines parties des sites web ou de nos services peuvent ne pas fonctionner correctement ou de manière optimale. Si vous souhaitez en savoir plus sur la manière de définir vos options en matière de cookies, veuillez vous reporter à la documentation de votre navigateur ou à l'aide en ligne pour obtenir des instructions. Enfants de moins de dix-huit ans SingleKey ne recueille pas sciemment d'informations personnellement identifiables auprès d'enfants de moins de dix-huit ans. Si vous avez moins de dix-huit ans, vous devez demander à vos parents ou à votre tuteur l'autorisation d'utiliser ce site web. Modifications de la présente déclaration SingleKey mettra occasionnellement à jour la présente déclaration de confidentialité afin de refléter les commentaires de l'entreprise et des clients. SingleKey vous encourage à consulter régulièrement la présente déclaration pour être informé de la manière dont SingleKey protège vos informations. Informations sur le contact SingleKey accueille volontiers vos questions ou commentaires concernant la présente déclaration de confidentialité. Si vous estimez que SingleKey n'a pas respecté la présente déclaration, veuillez contacter SingleKey. Pour toute autre question, contactez notre équipe 1-877-978-1404 info@singlekey.com --- ### Conditions générales d'utilisation [Conditions générales d'utilisation](https://www.singlekey.com/fr-ca/conditions-generales-dutilisation/) Date: July 10, 2024 Author: SingleKey Content: Conditions générales d'utilisation Publié le 18 octobre 2021 | Mis à jour le 23 juin 2022 Les modalités et conditions décrites ci-dessous s'appliquent entre Single-Key Inc. (" SingleKey ", " Nous ", " Notre " ou " Nous " dans les présentes) et tout propriétaire, locataire et/ou autre utilisateur (désignés collectivement par " Vous ", " Propriétaire ", " Locataire " ou " Utilisateur " dans les présentes) qui accède à certains aspects de la plateforme de SingleKey ou qui les utilise. En continuant à utiliser le programme de garantie de loyer de SingleKey, le rapport de vérification des antécédents et de la solvabilité ou le programme de garantie de loyer pour les locataires (collectivement appelés " services SingleKey " dans le présent document), vous indiquez que vous avez lu, compris et accepté d'être soumis aux conditions générales énoncées ci-dessous. En outre, vous reconnaissez et acceptez que vous avez pris connaissance et que vous acceptez tous les documents inclus par incorporation, y compris la politique de confidentialité de SingleKey, ainsi que toutes les autres lois, statuts et/ou réglementations applicables. Les présentes conditions s'appliquent aux utilisateurs qui interagissent avec les services de SingleKey (y compris, mais sans s'y limiter, la vérification de crédit et d'antécédents de SingleKey, le programme de garantie de loyer, la perception de loyer et la présélection) ainsi que tout autre service offert par l'entremise du site Web de SingleKey, https://www.singlekey.com/ (le " site Web " aux présentes). SingleKey se réserve le droit de changer, d'évoluer, de modifier, d'améliorer, de supprimer ou de compléter ses services et, par extension, les présentes conditions générales, à tout moment et sans préavis. La poursuite de l'utilisation des services SingleKey et du site web par l'utilisateur vaut acceptation des présentes conditions générales. 1. Services de clé unique SingleKey offre une variété de services, notamment le programme de garantie de loyer SingleKey, le rapport de vérification du crédit et des antécédents (" rapport "), les formulaires de présélection et la collecte des loyers SingleKey. Les termes et conditions de ces services sont décrits ci-dessous. Rapport de vérification de crédit et d'antécédents SingleKey Le rapport de SingleKey comprend des données saisies par l'utilisateur ainsi que des données provenant d'agences d'information tierces (y compris, mais sans s'y limiter spécifiquement, des données provenant d'agences d'évaluation du crédit pour les antécédents de crédit, d'agences gouvernementales, d'agences de police, de publications d'information, de bases de données de tribunaux publics, de médias sociaux, de la vérification de votre éducation, de vos antécédents professionnels, etc). Les informations privées sont collectées et distribuées conformément à la législation canadienne applicable en matière de protection de la vie privée, notamment la loi sur la protection des renseignements personnels et les documents électroniques (Personal Information Protection and Electronic Documents Act, https://laws-lois.justice.gc.ca/eng/acts/P-8.6/page-1.html), la loi sur la protection des renseignements personnels de la Colombie-Britannique (B.C. Personal Information Protection Act, https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03063_01) et la loi sur la protection des renseignements personnels du Nouveau-Brunswick (A.B. Personal Information Protection Act, https://open.alberta.ca/publications/p06p5). Le rapport comprend une vérification des antécédents. Ces informations proviennent de fournisseurs tiers et ne sont pas collectées directement par SingleKey. En outre, l'utilisateur comprend que la recherche de documents judiciaires incluse dans le rapport n'est qu'une recherche d'archives publiques et ne doit pas être interprétée comme une vérification des dossiers judiciaires de la GRC, du FBI ou d'un tribunal local. La commande d'un rapport sur un demandeur apparaît comme une demande de renseignements dans son dossier de crédit, mais elle n'a pas d'impact significatif sur le score de crédit du demandeur. Saisissez les informations relatives au locataire Un propriétaire doit obtenir un consentement écrit avant de pouvoir demander un rapport. La preuve du consentement explicite est apportée à SingleKey lorsque l'utilisateur sélectionne "OUI" sur notre site web. La preuve du consentement peut être demandée à tout moment par SingleKey ou les partenaires de SingleKey. Si un propriétaire ne fournit pas la preuve de son consentement ou tout autre document requis au moment de la demande, SingleKey se réserve le droit de bloquer ou d'annuler la vérification du compte d'utilisateur du propriétaire. Inviter le locataire Les données personnelles transmises à SingleKey par le biais de la méthode "Inviter le locataire" constituent un "consentement explicite" de la part du locataire potentiel qui fournit les informations pour que SingleKey produise un rapport. Produit final Le paiement est nécessaire pour traiter et compléter la demande de rapport d'un demandeur. Tous les paiements sont effectués par l'intermédiaire d'un tiers. Tout rapport acheté par un utilisateur restera dans le compte de l'utilisateur pendant quatre-vingt-dix (90) jours au maximum. Après quatre-vingt-dix (90) jours, le rapport sera supprimé du compte. Si un utilisateur a besoin d'accéder à un ancien rapport, veuillez contacter info@singlekey.com. Le produit final peut être visualisé via le compte de l'utilisateur sur notre site web. Le score SingleKey et le score de crédit fournis dans le rapport sont destinés à agir de manière prédictive et comme un outil d'orientation et non comme une décision finale. Aux fins du rapport, le locataire confirme que toutes les informations fournies dans sa demande sont, à sa connaissance, exactes. Le locataire accorde également par la présente à SingleKey, au propriétaire, à l'agent du propriétaire, à son représentant ou à son gestionnaire immobilier, l'autorisation expresse mais révocable de consulter votre rapport et de procéder à toute vérification nécessaire (à leur discrétion), y compris, mais sans s'y limiter, la prise de contact avec des références ou la vérification d'une preuve de revenu. En donnant leur consentement, les candidats potentiels autorisent SingleKey et les agences de notation tierces de SingleKey à accéder aux informations personnelles pour générer un rapport. Le candidat consent à l'utilisation, à la collecte et à la divulgation contrôlée de ses informations personnelles, y compris ses antécédents locatifs, judiciaires, professionnels, bancaires et financiers, conformément à la politique de confidentialité de SingleKey. Toute fausse déclaration constitue un motif légal valable de rejet de la candidature d'un locataire par un propriétaire ou par SingleKey. 2. Programme d'orientation SingleKey SingleKey offre aux utilisateurs la possibilité de gagner des points et des récompenses par le biais de son programme de parrainage. SingleKey se réserve le droit de modifier, d'amender ou de résilier les présentes conditions générales, les récompenses offertes dans le cadre du programme de parrainage ou le programme de parrainage dans son ensemble, à tout moment et pour quelque raison que ce soit. Les utilisateurs sont liés par les présentes conditions générales et doivent répondre à certains critères pour participer au programme de parrainage. Les référents ne sont pas autorisés à participer à ce programme de parrainage si les lois ou réglementations applicables l'interdisent. SingleKey se réserve le droit de disqualifier tout référent de la participation au programme de référence à tout moment et à sa seule discrétion, y compris, mais sans s'y limiter, dans les cas où les utilisateurs ne se conforment pas à l'une ou l'autre des présentes conditions générales. Comment fonctionne le programme d'orientation ? Pour participer au programme, les référents ("référent" est un utilisateur existant qui envoie le lien de référence à un utilisateur non existant) doivent d'abord créer un compte sur le site web de SingleKey. Après la création d'un compte, les utilisateurs peuvent accéder à leur lien de parrainage personnel qu'ils peuvent envoyer à des référents (les "référents" sont des personnes qui reçoivent le lien de parrainage d'un utilisateur existant) qui ne sont pas encore des utilisateurs existants sur la plateforme SingleKey. Lorsqu'un parrain envoie son lien de parrainage à un filleul et qu'un achat est effectué par l'intermédiaire de ce lien, le parrain peut être crédité de (1) récompense sous la forme et la valeur déterminées par SingleKey. L'arbitre recevra également une réduction s'il utilise le lien de référence pour son achat. RécompensesLes récompenses n'ont pas de valeur monétaire et ne peuvent pas être échangées contre de l'argent. Les récompenses ne sont pas transférables et ne peuvent être vendues aux enchères, échangées, troquées, retournées ou vendues. En cas de cessation du programme de parrainage, ou de toute partie de celui-ci, toute récompense non échangée est perdue et ne peut être réclamée. Les valeurs reflétées dans le compte d'un utilisateur sont les valeurs sur lesquelles la clé unique doit agir. Toutes les récompenses sont attribuées à la discrétion de SingleKey. 3. Programme de garantie des loyers pour les clés uniques Inscription à la garantie des loyers Dans le cadre du programme de garantie de loyer, les utilisateurs doivent accepter les conditions générales décrites ici. En outre, pour s'inscrire au programme de garantie des loyers, les utilisateurs seront également soumis au contrat de service aux locataires de SingleKey (visitez le site Web pour le consulter séparément). Remboursement du rapport de vérification de crédit et d'antécédents SingleKeyLorsqu'un utilisateur commande un rapport et passe ensuite au programme de garantie des loyers, SingleKey peut proposer au propriétaire de lui rembourser intégralement le prix payé par l'utilisateur. Cette décision est laissée à la discrétion de SingleKey et de son personnel. Un utilisateur n'a pas droit à un remboursement tant qu'il n'a pas été approuvé par un membre de SingleKey. Clé unique - Relations avec les propriétaires Les utilisateurs reconnaissent et comprennent par la présente que le rôle de SingleKey est d'intégrer et de soutenir les utilisateurs. L'étendue de l'obligation de SingleKey envers les utilisateurs est limitée à la fourniture à l'utilisateur d'un service à la clientèle, à l'intégration du client, à la production d'un rapport de solvabilité sur un locataire, à la collecte et à la soumission de tous les documents requis au souscripteur et à la fourniture d'un accès à la plateforme de collecte des loyers en ligne. Les utilisateurs renoncent par la présente à tous les droits qu'ils pourraient avoir à l'égard de SingleKey en droit ou en équité pour toute action de quelque nature que ce soit en ce qui concerne le contrat de service aux locataires, le contrat de garantie de paiement du loyer ou tout autre accord entre le donneur d'ordre et le propriétaire. Les utilisateurs reconnaissent également qu'il leur a été conseillé d'obtenir des conseils juridiques, fiscaux ou autres conseils professionnels indépendants avant de décider de se soumettre au service de vérification de la solvabilité et des antécédents de SingleKey ou au programme de garantie de location de SingleKey, et qu'ils ont procédé à leurs propres vérifications et enquêtes avant d'accepter les présentes conditions. Dans le cadre du programme de garantie de loyer, les utilisateurs doivent accepter les conditions générales décrites ici. En outre, pour s'inscrire au programme de garantie des loyers, les utilisateurs seront également soumis au contrat de service aux locataires de SingleKey (visitez le site Web pour le consulter séparément). Remboursement du rapport de vérification de crédit et d'antécédents SingleKeyLorsqu'un utilisateur commande un rapport et passe ensuite au programme de garantie des loyers, SingleKey peut proposer au propriétaire de lui rembourser intégralement le prix payé par l'utilisateur. Cette décision est laissée à la discrétion de SingleKey et de son personnel. Un utilisateur n'a pas droit à un remboursement tant qu'il n'a pas été approuvé par un membre de SingleKey. Clé unique - Relations avec les propriétairesLes utilisateurs reconnaissent et comprennent par la présente que le rôle de SingleKey est d'intégrer et de soutenir les utilisateurs. L'étendue de l'obligation de SingleKey envers les utilisateurs est limitée à la fourniture à l'utilisateur d'un service à la clientèle, à l'accueil des clients, à la production d'un rapport de solvabilité sur un locataire, à la collecte et à la soumission de tous les documents requis au souscripteur et à la fourniture d'un accès à la plateforme de collecte des loyers en ligne. Les utilisateurs renoncent par la présente à tous les droits qu'ils pourraient avoir à l'égard de SingleKey en droit ou en équité pour toute action de quelque nature que ce soit en ce qui concerne le contrat de service aux locataires, le contrat de garantie de paiement du loyer ou tout autre accord entre le donneur d'ordre et le propriétaire. Les utilisateurs reconnaissent également qu'il leur a été conseillé d'obtenir des conseils juridiques, fiscaux ou autres conseils professionnels indépendants avant de décider de se soumettre au service de vérification de la solvabilité et des antécédents de SingleKey ou au programme de garantie de location de SingleKey, et qu'ils ont procédé à leurs propres vérifications et enquêtes avant d'accepter les présentes conditions. 4. Plateforme de collecte des loyers SingleKey La plateforme de perception des loyers de SingleKey (ci-après "perception des loyers") propose de percevoir les loyers pour les propriétaires (en tant que fonction optionnelle). L'encaissement des loyers est proposé par le biais d'une transaction de débit préautorisé (DPA) entre un payeur et un bénéficiaire. Pour bénéficier de cette fonctionnalité, le payeur et le bénéficiaire doivent accepter de signer et de se soumettre aux conditions énoncées dans l'accord de débit préautorisé. En acceptant d'utiliser ce service, le payeur et le bénéficiaire acceptent expressément les conditions générales régissant le service d'encaissement des loyers de SingleKey. SingleKey fait appel à un tiers pour stocker, collecter et traiter les données de paiement. Pour en savoir plus sur la manière dont SingleKey stocke les données, veuillez consulter la politique de confidentialité de SingleKey. Le payeur accepte de permettre à SingleKey d'utiliser ses informations de compte pour retirer un montant de loyer spécifique du compte fourni sur une base régulière (mensuelle) à des fins professionnelles. L'argent est retiré et déposé sur le "compte désigné" du bénéficiaire. Ce service est offert conformément à l'Accord de débit préautorisé de l'Association canadienne des paiements, Règle H1 (Règle H1). Le fait de fournir vos informations bancaires et de remplir les formulaires nécessaires par l'intermédiaire de notre site Internet sera considéré comme satisfaisant aux conditions requises pour le DPA. Le payeur ou le bénéficiaire peut décider de mettre fin à ce service à tout moment. Conditions de débit préautoriséL'accord de débit préautorisé est conclu à des fins commerciales en raison de la nature de la relation entre SingleKey, agissant en qualité d'accompagnateur, le propriétaire et le locataire. Le "Payeur" autorise SingleKey et l'institution de paiement identifiée à traiter les paiements par débit préautorisé. L'autorisation est donnée en contrepartie de l'acceptation par l'institution de traitement de traiter les débits pour le compte identifié. Le payeur reconnaît que la remise de la présente autorisation à SingleKey constitue une autorisation pour l'institution de traitement. Le Payeur autorise SingleKey à effectuer des retraits sur ce compte afin de retirer le montant du loyer convenu entre le Payeur et le Bénéficiaire. Les transactions par DPA peuvent être annulées, à condition que la notification soit reçue dix (10) jours ouvrables avant la date de la prochaine transaction. Le payeur accepte de renoncer à la période de notification préalable pour les débits. SingleKey confie le traitement du paiement à une société tierce indépendante pour effectuer la transaction DPA. Le payeur s'engage à informer SingleKey ou le bénéficiaire, par écrit, de toute modification des informations relatives à son compte fournies dans l'accord d'autorisation avant la prochaine échéance du DPA. Le payeur reconnaît par la présente sa compréhension, son acceptation et sa participation à un plan de DPA, qui prévoit certains droits de recours si un débit ne respecte pas le présent accord. Par exemple, le payeur a le droit de se faire rembourser toute opération qui n'est pas autorisée ou qui n'est pas conforme à l'Accord de DPA. Pour obtenir plus d'informations sur les droits de recours du payeur, ce dernier peut contacter son institution financière ou consulter le site www.cdnpay.ca. L'autorisation du payeur sera donnée sur l'accord officiel de DPA, sous la forme d'une signature, afin de permettre à SingleKey d'effectuer les paiements conformément aux termes de cet accord. Les utilisateurs de la plateforme de collecte de loyers consentent à la collecte d'informations personnelles par SingleKey à diverses fins, y compris, mais sans s'y limiter, la tenue et la mise à jour d'un rapport de crédit, et à la divulgation de ces informations à d'autres parties dans le but de déterminer l'aptitude à la location, aux fournisseurs de crédit évaluant l'aptitude au crédit, et aux agences d'évaluation du crédit. L'utilisateur comprend que les rapports ne seront établis que si la preuve de la transaction est apportée par le biais de la plateforme de perception des loyers. Les utilisateurs reconnaissent et comprennent que SingleKey ne peut garantir que certaines informations communiquées par l'intermédiaire de notre service de perception des loyers seront utilisées par les agences d'évaluation, qu'elles figureront dans un rapport de solvabilité ou qu'elles auront un impact sur un score de solvabilité. Dans le cadre de cette procédure, les personnes peuvent être informées qu'elles ont fait l'objet d'un signalement. SingleKey peut utiliser un service de paiement tiers pour facturer le client par le biais d'un compte en ligne. En soumettant les informations relatives au compte de paiement, le client accorde à SingleKey le droit de stocker et de traiter ces informations avec le service de paiement tiers et accepte que SingleKey ne soit pas responsable des défaillances du tiers, y compris des défaillances dans la protection adéquate de ces informations. Le traitement des paiements sera soumis aux termes, conditions et politiques de confidentialité de ce service de paiement tiers, en plus du présent accord. 5. Conditions d'utilisation Utilisation, limitation et accès aux services Tous les utilisateurs sont tenus de créer un profil leur permettant de s'identifier sur notre site web ("compte"). En s'inscrivant à un compte, le propriétaire accepte de fournir des informations actualisées, exactes et complètes pour gérer le compte, y compris une photo d'une pièce d'identité valide délivrée par le gouvernement. Avant la création de votre compte, le profil est "vérifié" afin de s'assurer que les services SingleKey sont utilisés à des fins autorisées. SingleKey se réserve le droit de demander des documents ou des informations supplémentaires avant d'accorder un compte à un utilisateur. L'utilisateur s'engage à prendre des précautions raisonnables pour protéger les données privées, fournies dans le cadre des services SingleKey, contre tout accès non autorisé ou indésirable. L'utilisateur reconnaît qu'il n'est autorisé à utiliser les services SingleKey que pour tenir un compte dans le cadre d'une relation propriétaire-locataire en rapport avec un bien immobilier. Le propriétaire est tenu de s'assurer que seuls les "utilisateurs autorisés" (un employé, une personne ou une partie à qui le propriétaire a donné l'autorisation expresse d'utiliser les services SingleKey en son nom) peuvent accéder à leur compte. L'utilisateur autorisé est soumis aux mêmes obligations en vertu des présentes conditions générales et des documents incorporés par référence, et doit être informé de ces obligations décrites dans le présent accord. Il incombe à l'utilisateur de veiller à la sécurité et à la confidentialité de tous les rapports. En outre, il incombe à tous les utilisateurs de se tenir à jour et de veiller au respect des obligations découlant des présentes conditions générales, ainsi que de toute politique applicable. L'utilisateur doit immédiatement informer SingleKey s'il soupçonne ou a connaissance d'un accès non autorisé, de tentatives d'accès ou d'une utilisation abusive de tout aspect du service SingleKey par l'intermédiaire de son compte, car le non-respect de cette obligation peut entraîner la résiliation de votre compte. Suspension et résiliation du compte SingleKey se réserve le droit de suspendre, de restreindre ou de résilier le compte d'un utilisateur et l'utilisation du site Web par ledit utilisateur, à tout moment, sans préavis, pour quelque raison que ce soit, y compris mais sans s'y limiter ; Lorsque le fonctionnement ou l'efficacité du site Web ou des services de SingleKey sont entravés par l'utilisation des services de SingleKey par l'utilisateur, Lorsqu'un montant de paiement est dû à SingleKey par un utilisateur et qu'il est en souffrance, SingleKey a reçu une plainte d'un tiers concernant l'utilisation ou la mauvaise utilisation du site web par un utilisateur, En cas de tentative d'utilisation abusive de tout aspect des services SingleKey par l'intermédiaire de votre compte, Lorsque l'utilisateur ne respecte pas l'un des termes ou l'une des conditions des présentes conditions ou de tout document incorporé par référence, Lorsque SinlgleKey estime que le compte est utilisé pour commettre une fraude ou voler des informations privées, et/ou ; Lorsque la suspension totale ou partielle de vos services SingleKey est nécessaire pour se conformer à la législation en vigueur. À la suite de la suspension ou de la résiliation de votre compte, il n'incombe pas à SingleKey d'aviser les tiers, y compris les tiers fournisseurs de services, de marchandises ou d'information, de toute suspension, restriction ou résiliation de votre accès au site Web. 6. Dispositions générales Contenu du site web Les informations et les données mises à la disposition des utilisateurs par l'intermédiaire du site web de SingleKey, y compris, mais sans s'y limiter, les textes, les logos de conception, les graphiques, les icônes, les images, les interfaces utilisateur, les téléchargements, les marques, les codes et les logiciels ("contenu" ci-après) sont la propriété exclusive de SingleKey et sont soumises aux dispositions des lois applicables en matière de propriété intellectuelle. Par conséquent, aucun contenu ne peut être copié, republié, téléchargé, téléchargé, réaffiché, publié ou affiché ou distribué publiquement de quelque manière que ce soit sans l'autorisation expresse et écrite de SingleKey. Clause de cession Tous les accords conclus entre l'utilisateur et SingleKey seront contraignants au profit (a) de tout successeur du Principe. Tout successeur du principe sera considéré comme substitué dans les présentes conditions à toutes fins utiles. À cette fin, on entend par "successeur" toute personne, entreprise, société ou autre entité commerciale qui, à tout moment, par achat, fusion ou autre, acquiert directement ou indirectement la totalité ou la quasi-totalité de ses actifs ou de ses activités. Licence d'utilisation SingleKey choisit d'accorder aux utilisateurs une licence non exclusive, incessible, limitée et révocable pour accéder aux services SingleKey. En outre, l'utilisateur reconnaît et accepte qu'il n'acquiert ni ne revendique aucun titre, droit ou licence de propriété sur les droits de propriété intellectuelle de SingleKey en vertu des droits qui vous sont accordés dans le cadre des présentes conditions générales ou de tout autre accord auquel vous pouvez être partie et qui concerne SingleKey, y compris, mais sans s'y limiter, les rapports. Tous les droits de propriété intellectuelle de SingleKey sur nos services SingleKey restent acquis à SingleKey (et à ses concédants de licence respectifs). Les utilisateurs reconnaissent et acceptent qu'ils n'agiront ou n'agiront pas, à tout moment, d'une manière susceptible d'affecter la propriété de SingleKey (et de ses concédants de licence) sur ces droits. L'utilisateur accepte par la présente d'accorder à SingleKey un droit perpétuel, irrévocable, international, non exclusif, transférable et libre de redevance d'utiliser, de copier, de modifier, de distribuer et d'afficher toutes les données ou dérivés qui peuvent être collectés dans le cadre des services SingleKey. La présente licence limitée sera maintenue après la résiliation, l'annulation, l'expiration ou la modification des présentes conditions générales. L'utilisateur accepte de posséder et de conserver tous les droits, titres et intérêts relatifs aux données que vous avez introduites dans SingleKey. Ce droit de propriété sur vos données exclut les droits limités expressément accordés ci-dessus. Restrictions de service Lors de l'utilisation d'un service SingleKey, vous vous engagez à ne pas : télécharger, transmettre ou utiliser tout service SingleKey d'une manière pouvant être considérée comme menaçante, embarrassante, haineuse, racialement ou ethniquement inappropriée, insultante, calomnieuse ou autrement diffamatoire ; utiliser le service SingleKey d'une manière qui enfreigne, viole ou détourne la propriété intellectuelle ou d'autres droits de propriété d'un tiers, utiliser le service SingleKey d'une manière qui pourrait être interprétée comme trompeuse, mensongère, frauduleuse, illégale ou comme promouvant des activités illégales. Cela inclut, sans s'y limiter, l'hameçonnage, l'obtention d'informations financières ou d'autres informations personnelles d'une manière trompeuse à des fins frauduleuses ou trompeuses, utiliser le service SingleKey d'une manière qui, à notre seule discrétion, pourrait l'endommager, le désactiver, le surcharger ou l'altérer, tenter d'obtenir un accès non autorisé au service SingleKey, à d'autres comptes, à des systèmes informatiques ou à des réseaux connectés au service SingleKey, ou à toute partie de celui-ci, par le biais du piratage, de l'extraction de mots de passe, interférer ou tenter d'interférer avec le bon fonctionnement du service SingleKey ou avec toute activité menée par SingleKey, modifier le service SingleKey de quelque manière que ce soit, dans le but d'obtenir un accès non autorisé à tout service SingleKey, utiliser un robot, une araignée, un scraper ou tout autre moyen automatisé d'accéder au service à quelque fin que ce soit sans notre autorisation écrite expresse, ou contourner toute mesure que nous pourrions utiliser pour empêcher ou restreindre l'accès au service SingleKey, se faire passer pour un autre utilisateur ou accéder au compte d'un autre utilisateur sans son autorisation expresse ; modifier, adapter, traduire ou créer des œuvres dérivées basées sur le service SingleKey, faire de l'ingénierie inverse, décompiler, désassembler ou tenter de découvrir le code source des services Singley, sauf et seulement dans la mesure où une telle activité est expressément autorisée par la loi applicable, supprimer, contourner, désactiver, endommager ou interférer de toute autre manière avec les fonctions liées à la sécurité du service SingleKey, les fonctions qui empêchent ou restreignent la copie de tout contenu accessible par l'intermédiaire de nos services, ou les fonctions qui imposent des limitations à l'utilisation de nos services, télécharger des données invalides, des virus, des vers ou d'autres agents logiciels par l'intermédiaire du service ou du site web SingleKey, accéder au service SingleKey si vous êtes un concurrent direct de SingleKey, sauf accord préalable écrit ou exprès, d'accéder au service SingleKey dans le but de créer un produit ou un service concurrent en utilisant des idées, des caractéristiques, des fonctions ou des graphiques similaires à ceux des services SingleKey, afin de concurrencer directement l'un des services SingleKey, ou à toute autre fin concurrentielle, diffuser publiquement les informations relatives aux performances du service de clé unique, d'encourager ou d'aider un tiers à faire ce qui précède, et, utiliser le service SingleKey en violation d'une loi, d'un règlement ou d'une règle étrangère, fédérale, étatique ou locale. Paiement SingleKey demande aux deux utilisateurs de fournir des données de paiement personnelles afin de procéder au paiement. Lorsque vous fournissez des détails de paiement sur notre site web, un instrument de paiement valide est requis. Nous ne traitons aucun paiement et ne conservons aucun détail de paiement pour les transactions, à moins que l'utilisateur n'en prenne la décision en toute connaissance de cause. Les informations de paiement fournies à SingleKey sont stockées et traitées par deux sociétés de paiement tierces indépendantes. SingleKey conserve le numéro de compte de l'utilisateur afin de mettre à jour les documents et de modifier les informations personnelles ou de paiement si nécessaire. Par conséquent, tous les paiements et toutes les informations personnelles fournis par l'intermédiaire du site web sont soumis aux politiques de confidentialité et aux conditions de service pour le stockage des agences tierces. Pour plus de détails, veuillez nous contacter pour en savoir plus sur la manière dont vos données sont stockées et protégées. Respect des lois applicables. Les utilisateurs acceptent de se conformer à toutes les lois canadiennes fédérales, provinciales, municipales et autres lois applicables dans la province de l'Ontario. Cela inclut, sans s'y limiter, les lois sur les rapports des consommateurs, les lois sur la protection de la vie privée, les règlements, les ordonnances judiciaires et les autres ordonnances de tout tribunal administratif qui peuvent s'appliquer. Les utilisateurs doivent obtenir le consentement des personnes susceptibles d'être soumises aux présentes conditions générales et les en informer, comme l'exige la loi, y compris la législation applicable en matière de protection de la vie privée, avant de s'enrôler dans les services SingleKey ou de les utiliser. Si nécessaire, il peut être demandé aux utilisateurs de modifier leurs pratiques afin que SingleKey puisse fournir légalement ses services SingleKey. SingleKey a le droit de refuser l'octroi de tout service à un utilisateur individuel pour quelque raison que ce soit, y compris le non-respect de ces demandes. Tous les termes, conditions et transactions relevant du présent accord sont soumis à la loi sur la protection des consommateurs de l'Ontario, de sorte que toute disposition du présent accord qui n'est pas conforme doit être modifiée de manière à l'être. Confidentialité Vous acceptez de garder confidentielles toutes les données reçues par SingleKey ou par un tiers, y compris, mais sans s'y limiter, les services de SingleKey. Toute information que vous recevez dans le cadre des services SingleKey ne doit pas être distribuée sous quelque forme que ce soit, sauf si cela est strictement requis par une loi ou une autre ordonnance légale ou si une autorisation expresse est accordée. En outre, SingleKey reconnaît que les propriétaires recevront des informations de nature confidentielle et/ou exclusive dans le cadre des services SingleKey. Vous acceptez que ces informations confidentielles et exclusives soient conservées dans la plus stricte confidentialité et qu'elles ne soient pas divulguées. (i) distribués aux utilisateurs autorisés qui sont soumis aux présentes conditions générales ; (ii) divulgués uniquement sur demande aux agences gouvernementales de régulation ; (iii) divulgués conformément à la loi ; ou (iv) selon les instructions de l'utilisateur individuel dont les données font l'objet du rapport. Les utilisateurs sont tenus de protéger ces informations confidentielles ou exclusives avec le plus grand soin raisonnable, comme l'exige la loi. Clause de non-responsabilité SingleKey informe les utilisateurs des clauses de non-responsabilité suivantes ; Les utilisateurs reconnaissent que SingleKey reçoit les informations incluses dans les rapports de la part de tiers indépendants qui échappent au contrôle de SingleKey. SingleKey n'est pas responsable du contenu du rapport, qu'il soit correct ou incorrect. En cas de divergence, les utilisateurs ont le droit d'introduire un litige par l'intermédiaire de l'agence tierce elle-même. Les utilisateurs acceptent de renoncer au droit de soulever un tel litige avec SingleKey et, par conséquent, de tenir SingleKey indemne et non responsable de ces informations incorrectes. Le rapport ne doit pas être le seul fondement d'une décision prise par un utilisateur. Les utilisateurs doivent prendre en considération d'autres facteurs qu'un décideur raisonnable dans une situation similaire prendrait en compte. Il est recommandé aux utilisateurs de ne pas présumer d'un résultat ou d'une conclusion sur la seule base d'un rapport. SingleKey ne déclare pas que le rapport est identique ou similaire à tout autre score de crédit, modèle de notation ou outil d'évaluation. Les informations de crédit contenues dans le rapport de crédit du SingleKey Credit and Background Check Report reflètent les données les plus récentes dont disposent les agences d'évaluation du crédit tierces. Par conséquent, certaines transactions ou certains frais récents qui peuvent affecter le score de crédit pertinent peuvent ne pas être immédiatement disponibles, car un score de crédit est susceptible de changer. L'aspect casier judiciaire de notre rapport est constitué de données fournies par une agence de signalement tierce et peut ne pas être disponible pour tous les candidats ou à tout moment pour diverses raisons, y compris des raisons indépendantes de notre volonté (par exemple : erreur de saisie de l'utilisateur). Nous ne sommes pas une agence gouvernementale et nous ne contrôlons ni ne vérifions le contenu des casiers judiciaires ou des rapports sur les véhicules à moteur, y compris les rapports obtenus par l'intermédiaire du service. Nous ne sommes pas responsables du contenu d'un casier judiciaire ou d'un rapport sur les véhicules à moteur, qu'il soit correct ou incorrect. Vous acceptez donc de dégager SingleKey de toute responsabilité pour tout préjudice découlant ou pouvant découler de la confiance que vous accordez à un rapport. SingleKey ne garantit pas que ses services seront exécutés sans interruption ni erreur. Si un rapport contient des scores incorrects, la seule obligation de SingleKey envers le propriétaire dans de tels cas sera de reproduire un nouveau rapport ou, si l'erreur ne peut être résolue, d'effectuer un remboursement partiel ou total du rapport (à la discrétion de SingleKey). SingleKey n'est en aucun cas responsable de l'exécution d'un processus de vérification ou d'une autre forme de contrôle d'un propriétaire. SingleKey n'est pas responsable de toute transaction entre le locataire et le propriétaire ou de tout résultat défavorable qui pourrait en découler. SingleKey ne fait aucune déclaration, ne donne aucune garantie autre que celles expressément énoncées dans les présentes conditions générales. SingleKey n'est pas responsable du respect des conditions du programme de garantie de location. SingleKey n'est pas responsable des pertes ou dommages causés par l'échec d'un score utilisé pour prédire avec précision la valeur potentielle d'une personne. Indemnisation Les utilisateurs acceptent d'indemniser et de dégager de toute responsabilité SingleKey et leurs dirigeants, administrateurs et employés respectifs en cas de réclamations, demandes, actions, poursuites ou autres procédures, quelle qu'en soit l'origine, et en cas de pertes, coûts, amendes, prélèvements, dommages, dépenses (y compris les frais et débours juridiques sur une base avocat-client et tous les coûts encourus en rapport avec l'application de la présente indemnité), impôts, pénalités et autres responsabilités, quels qu'ils soient, découlant directement ou indirectement de, ou en rapport avec : (a) SingleKey agissant conformément aux instructions du bailleur ; (b) le non-paiement du loyer par le locataire ; (c) le non-paiement ou le retard de paiement par le débiteur principal pour quelque raison que ce soit ; ou (d) toute violation d'une déclaration, d'une garantie ou d'un engagement pris entre les utilisateurs et SingleKey. Cette indemnité survivra à la cessation de la relation des utilisateurs avec SingleKey ou à la résiliation de l'accès au compte des utilisateurs. Limitation de la responsabilité. En aucun cas les utilisateurs ne décideront de tenir SingleKey pour responsable des dommages consécutifs, accessoires, indirects, spéciaux, exemplaires ou punitifs qu'un utilisateur pourrait avoir subis, découlant de l'exécution des présentes conditions d'utilisation, y compris, mais sans s'y limiter, la perte de données, la perte de profits, la perte de revenus et la perte d'informations, indépendamment du fait qu'une réclamation pour pertes ou dommages puisse ou non être présentée dans le cadre d'un contrat, d'un délit civil, d'une négligence, d'une responsabilité stricte ou autre, même si SingleKey a été informée de la possibilité de tels dommages. En outre, la responsabilité collective globale de SingleKey envers toute personne, y compris les utilisateurs individuels ou les utilisateurs tiers, ne peut en aucun cas dépasser le montant total des frais payés à SingleKey depuis le début de l'utilisation des services de SingleKey jusqu'à la période d'un (1) mois précédant immédiatement l'événement donnant lieu à une réclamation en responsabilité de la part de la partie individuelle soulevant la réclamation. cette limitation de responsabilité survit et s'applique nonobstant la validité des recours limités prévus dans les présentes conditions d'utilisation. Sites de tiers. Une partie des services SingleKey peut contenir des liens vers des services de tiers ou les utiliser. Lorsque SingleKey fournit un lien vers un site Web, cela ne signifie pas que SingleKey garantit ou approuve ledit site Web, les personnes associées à ce site Web ou l'une quelconque des offres dudit site Web. Les liens envoyés aux utilisateurs ou contenus dans le présent site web sont fournis uniquement pour la commodité de l'utilisateur. Les utilisateurs accèdent aux sites web de tiers à leurs propres risques. Les sites web de tiers et leur contenu échappent au contrôle de SingleKey et, par conséquent, SingleKey ne peut être tenu responsable des actions menées sur les sites de tiers. Intégralité de l'accord. Les conditions générales énumérées dans le présent document, dans leur intégralité, comprennent toutes les conditions et tous les accords entre les utilisateurs et SingleKey, en ce qui concerne l'objet du présent document. Les présentes conditions générales s'appliquent conjointement à la convention de services aux locataires et à la politique de confidentialité de SingleKey. Ces documents annulent et remplacent tous les accords et communications antérieurs sur l'objet des présentes conditions générales, qu'ils soient oraux ou écrits, explicites ou implicites. Force Majeure SingleKey n'est pas responsable de la non-exécution, du retard d'exécution ou de l'exécution inadéquate causés par des conditions échappant à son contrôle commercialement raisonnable, y compris, mais sans s'y limiter, les actes de nos autorités civiles ou militaires, l'état de guerre, les actes de terrorisme, les urgences nationales, les actes ou omissions de tout utilisateur, les grèves, les épidémies (y compris les épidémies et les pandémies), la défaillance des services publics, la défaillance des moyens de communication, les embargos, les catastrophes naturelles, les pandémies, les incendies, les inondations ou l'adoption de lois, de règlements ou d'autres ordonnances des autorités publiques. Survie Nonobstant l'expiration, la modification ou la résiliation des présentes conditions, il est expressément prévu que les présentes conditions, de par leur nature, se prolongent au-delà de la durée de vie et d'existence des présentes conditions et restent en vigueur conformément à leurs termes. Inapplicabilité des dispositions Chaque section et disposition des présentes conditions générales est dissociable du reste de l'accord. Si un paragraphe ou une disposition est déclaré(e) invalide, les autres sections et dispositions restent pleinement en vigueur. SingleKey négociera en toute bonne foi une modification appropriée de la clause ou de la condition invalide respective pour remplacer la disposition invalide. Si les parties ne parviennent pas à se mettre d'accord sur une modification appropriée, les présentes conditions générales seront interprétées comme suit (a) comme si la disposition invalide ou inapplicable, ou une partie de celle-ci, avait été effectivement modifiée dans la mesure nécessaire pour éviter l'illégalité ou l'inapplicabilité de cette disposition, si cela est possible, et si cela ne l'est pas, alors (b) comme si cette disposition ou partie de disposition invalide ou inapplicable n'avait pas été contenue dans le présent document. Des rubriques uniquement pour des raisons de commodité La division des présentes conditions générales en sections et sous-sections n'a pour but que de faciliter les références et n'affecte pas l'interprétation des présentes conditions générales. Renonciation Aucune partie n'est réputée avoir renoncé à l'exercice d'un droit qu'elle détient en vertu des présentes conditions générales ou de la loi, à moins que cette renonciation ne soit expressément faite par écrit. Le fait qu'une partie n'exige pas, à quelque moment que ce soit et pour quelque durée que ce soit, l'exécution par l'autre partie d'une obligation au titre des présentes conditions générales n'affecte en aucun cas le droit d'exiger l'exécution de cette obligation ou le droit de réclamer des réparations en cas de violation au titre du présent accord ou en vertu de la loi. La renonciation par une partie à toute violation d'une disposition des présentes conditions générales, sauf indication contraire expresse et écrite, ne doit pas être interprétée comme une renonciation à toute violation continue ou ultérieure de cette disposition, une renonciation ou une modification de la disposition elle-même, ou une renonciation ou une modification de tout droit en vertu des présentes conditions générales ou de la loi. 6. Règlement du concours SingleKey 100K User Giveaway Règlement officiel 1. AUCUN ACHAT OU PAIEMENT N'EST NÉCESSAIRE POUR PARTICIPER OU GAGNER: Le concours SingleKey 100K User Giveaway (le "concours") est sponsorisé par Single-Key Inc ("SingleKey" ou le "sponsor"). Le concours débute le 24 août 2023 à 0 h 00 min 01 s, heure de l'Est ("HE") et se termine le 15 septembre 2023 à 23 h 59 min 59 s, HE (la "période du concours"). Toutes les références dans le présent règlement (le "règlement officiel") se rapportent à l'heure de l'Est. En participant au concours, les participants acceptent de respecter et d'être liés par le présent règlement officiel. 2. ADMISSIBILITÉ: Le concours est ouvert aux résidents légaux de l'Ontario (à l'exclusion de la province de Québec) qui, au moment de leur inscription et à la date de clôture du concours (voir règle 3) (a) ont atteint l'âge de la majorité dans leur province de résidence. Les employés, représentants et agents du sponsor, de ses filiales et de leurs agences promotionnelles respectives, ou de l'organisation indépendante du concours, le cas échéant (le sponsor et ces entités, collectivement, les "entités promotionnelles"), les membres de la famille immédiate de ces personnes (quel que soit le lieu de résidence de ces membres de la famille) et les personnes avec lesquelles ces personnes résident (qu'elles aient un lien de parenté ou non) ne sont pas autorisés à participer ou à gagner. La "famille immédiate" est définie comme (a) les conjoints ou les partenaires domestiques, et (b) les parents, les frères et sœurs et les enfants, ainsi que leurs conjoints et partenaires domestiques respectifs. 3. COMMENT PARTICIPER: Pendant la période du concours :-Publiez une vidéo sur Instagram, Facebook ou LinkedIn expliquant pourquoi vous utilisez SingleKey.-Mettez @Singlekeycom dans le message sur Instagram ou Facebook, ou mettez @Singlekey dans le message sur LinkedIn. Le compte Instagram, Facebook ou LinkedIn du participant ne doit pas nécessairement être public. Les participants peuvent s'inscrire plusieurs fois au concours, mais ne pourront pas gagner plus d'une fois. Les participations qui ne satisfont pas aux exigences énoncées dans le présent règlement officiel peuvent être supprimées et ne sont pas admissibles au concours. Les inscriptions doivent être reçues au plus tard à 23 h 59 min 59 s HE le 15 septembre 2023 (la "date de clôture du concours"). Toute tentative de participation d'une manière autre que celle décrite dans le présent règlement officiel ne constituera pas une participation valable. L'utilisation de tout système automatisé pour s'inscrire ou participer à ce concours est interdite et entraînera automatiquement la disqualification. 4. FORMAT ET CONTENU DE LA VIDÉO Chaque vidéo :i. ne doit pas, à la seule et entière discrétion du sponsor, contenir de nudité, de contenu sexuellement explicite, dénigrant, discriminatoire, diffamatoire ou autre contenu inapproprié ;ii. Doit être destiné à un public familial et ne contenir que du contenu qui, à la seule et entière discrétion du sponsor, est adapté à toutes les personnes, y compris les personnes âgées de moins de 13 ans ;iii. Ne doit pas contenir de langage suggérant ou encourageant une activité illégale ;iv. Ne doit être soumis qu'une seule fois ;v. ne doit pas contenir de produits et/ou de marques de commerce, de marques, de logos ou de droits d'auteur de tiers identifiables, autres que ceux du sponsor, ni quoi que ce soit qui porte atteinte ou pourrait porter atteinte aux droits de quiconque, y compris les droits de propriété intellectuelle ;vi. Doit être au format mp4, mov, wmv ou avi ;vii. Doit être original et expliquer pourquoi le participant utilise les services du sponsor. Les candidatures sont soumises à l'approbation du sponsor et doivent satisfaire à toutes les exigences énoncées ci-dessus. Les participations qui ne satisfont pas aux exigences susmentionnées (ou qui sont autrement considérées comme inappropriées, à la seule et entière discrétion de l'Organisateur) seront annulées et ne pourront pas être prises en compte dans le cadre du Concours. Si un participant a publié un contenu inapproprié, il sera disqualifié. Le sponsor peut, à sa seule discrétion, choisir d'utiliser, en tout ou en partie, toute participation, y compris toute vidéo, à ce concours pour ses propres activités publicitaires et/ou promotionnelles futures, sans préavis ni compensation. Chaque participant garantit aux parties exonérées (voir règle 9) que son œuvre n'enfreint ni ne viole aucun droit d'auteur ou autre propriété intellectuelle et qu'en soumettant son œuvre, il cède tous les droits d'auteur au sponsor et renonce à tous les droits moraux sur son œuvre. 5. PRIX: Un seul prix disponible : Il y a un (1) prix disponible à gagner par le gagnant du prix (un " gagnant "), consistant en une carte-cadeau totalisant la somme de 1 000 $CAN. Le sponsor se réserve le droit, à tout moment, de remplacer un prix ou un élément de celui-ci, pour quelque raison que ce soit, par un prix ou un élément de prix de valeur égale ou supérieure. 6. TIRAGE DU PRIX : Un tirage au sort du prix (le "tirage") aura lieu le 18 septembre 2023 (la "date du tirage") à environ 10 h 00 (HE) dans les bureaux du commanditaire à Toronto, en Ontario, parmi toutes les inscriptions admissibles reçues avant la date de clôture du concours. Les chances d'être sélectionné dépendent du nombre total d'inscriptions admissibles reçues avant la date de clôture du concours. 7. NOTIFICATION DES GAGNANTS: Le Sponsor tentera de contacter les participants sélectionnés par message direct dans les 48 heures suivant la date du tirage, afin d'obtenir leurs coordonnées pour qu'un formulaire de déclaration et de décharge (décrit ci-dessous) puisse être envoyé par courrier électronique et que la question d'habileté mathématique puisse être administrée pour confirmer que les participants sélectionnés sont qualifiés pour le(s) prix. Le sponsor peut exiger d'un participant une preuve d'identité ou d'éligibilité (sous une forme acceptable par le sponsor). Le fait de ne pas fournir cette preuve dans les délais impartis peut entraîner la disqualification du participant par le sponsor, à sa seule discrétion. Si (a) le participant sélectionné ne répond pas ou répond correctement à la question ; (b) le participant sélectionné est considéré comme mineur ou l'était au moment de sa participation, ou est jugé inéligible pour toute autre raison ; (c) malgré des efforts raisonnables, le participant sélectionné ne répond pas dans les deux (2) jours ouvrables suivant la première tentative de notification, ou (d) si le prix ou la notification du prix est retourné comme non réclamé ou non livrable au participant sélectionné, ce dernier sera disqualifié. Un autre participant sera sélectionné par tirage au sort parmi tous les autres bulletins de participation admissibles reçus. Le sponsor n'est pas responsable si une notification est perdue, interceptée ou non reçue par le gagnant potentiel pour quelque raison que ce soit. Le participant sélectionné doit remplir un formulaire de déclaration et d'exonération de responsabilité, qui doit être renvoyé dans le délai spécifié, accompagné de tout autre document que le sponsor peut exiger. Si le(s) document(s) rempli(s) n'est (ne sont) pas renvoyé(s) dans les délais ou si le(s) document(s) est (sont) renvoyé(s) parce qu'il(s) n'est (ne sont) pas livrable(s), le prix sera annulé et, dans ce cas, un autre participant sélectionné pourra être choisi au hasard comme indiqué ci-dessus. Si un gagnant n'est pas désigné après avoir tenté de contacter trois (3) participants supplémentaires, le sponsor peut décider de ne pas attribuer le prix. 8. GÉNÉRALITÉS: En participant au concours, les participants acceptent de respecter et d'être liés par le présent règlement officiel et par les décisions du commanditaire concernant tous les aspects du concours, qui sont définitives et contraignantes à tous égards en ce qui concerne ce concours. En cas d'incohérence entre le présent règlement officiel et d'autres déclarations contenues dans tout matériel lié au concours, y compris, mais sans s'y limiter, le message du concours, la publicité imprimée ou en ligne, les termes et conditions du présent règlement officiel prévaudront. 9. DÉCHARGE DE RESPONSABILITÉ GÉNÉRALE/FORCE MAJEURE: Les participants acceptent que les entités de la promotion et chacun des membres de leurs conseils, dirigeants, administrateurs, gouverneurs, partenaires, partenariats, directeurs, employés, bénévoles, représentants, agents, affiliés, entités liées, successeurs et ayants droit respectifs (les entités de la promotion, collectivement avec ces autres entités et personnes, les "parties exonérées") (A) ne sont pas responsables de l'ensemble des coûts, blessures, pertes ou dommages de quelque nature que ce soit, dus en tout ou en partie, directement ou indirectement, à la participation au concours ou à toute activité liée au concours ou à l'acceptation, la réception, la possession, l'utilisation et/ou la mauvaise utilisation d'un prix par les participants, et sont par la présente dégagés de toute responsabilité à cet égard, et (B) n'ont donné aucune garantie, représentation ou garantie de quelque nature que ce soit, en fait ou en droit, en ce qui concerne un prix, y compris, mais sans s'y limiter, la qualité ou l'adéquation d'un prix à un usage particulier, et rejettent toute garantie implicite. En participant au concours, chaque participant libère par la présente les parties exonérées de toute réclamation pouvant résulter de l'utilisation par une partie non autorisée des informations personnelles du participant ou de sa participation à quelque fin que ce soit. Chaque participant libère en outre le sponsor de toute demande de redevances, de dommages et intérêts ou d'autres mesures de redressement, ainsi que de toute revendication de paternité, de droits d'auteur, de droits moraux ou de droits de la personnalité liés à la participation ou aux participations du participant ou à l'utilisation qui en est faite. Les parties exonérées n'assument aucune responsabilité pour les dommages causés au système informatique ou au téléphone sans fil d'un participant ou de toute autre personne en raison de l'accès au site web ou de la participation au concours, ou pour tout dysfonctionnement du système informatique, de la ligne téléphonique, du matériel, des logiciels ou des programmes, ou pour d'autres erreurs, défaillances, transmissions informatiques retardées ou connexions de réseau de nature humaine ou technique. Sans limiter la généralité de ce qui précède, le sponsor n'est pas responsable des inscriptions incomplètes, illisibles, mal adressées, mal imprimées, tardives, perdues, endommagées, volées, ni des courriers électroniques ou postaux ou des notifications de prix ; ni des réseaux, serveurs, satellites, fournisseurs d'accès à Internet, sites Web ou autres connexions perdus, interrompus, inaccessibles ou indisponibles ; ou pour des erreurs de communication, des transmissions informatiques, téléphoniques ou par câble ratées, confuses, brouillées, retardées ou mal dirigées ; ou pour des dysfonctionnements techniques, des défaillances, des difficultés ou d'autres erreurs de quelque nature que ce soit ; ou pour la saisie incorrecte ou inexacte d'informations, ou pour l'impossibilité de saisir des informations. Aucune inscription reproduite mécaniquement, illisible, incomplète, falsifiée, générée par un logiciel ou toute autre inscription automatisée ne sera acceptée. Le sponsor se réserve le droit de modifier, de prolonger, de suspendre ou de mettre fin au concours s'il détermine, à sa seule discrétion, que le concours est techniquement altéré ou corrompu ou qu'une fraude ou des problèmes techniques, des défaillances ou des dysfonctionnements ou d'autres causes ont détruit ou gravement compromis ou, dans une certaine mesure, altéré l'intégrité, l'administration, la sécurité, le bon déroulement et/ou la faisabilité du concours. Si le concours est interrompu ou suspendu avant la date de clôture du concours, un avis sera publié sur le compte de médias sociaux du sponsor et ce dernier sélectionnera (si possible) le(s) gagnant(s) par tirage au sort parmi tous les bulletins de participation éligibles et non suspects reçus légitimement à la date de l'événement donnant lieu à l'interruption du concours. L'inclusion dans un tel tirage au sort constitue le seul et unique recours de chaque participant dans de telles circonstances. L'invalidité ou l'inapplicabilité de toute disposition du présent règlement officiel n'affectera pas la validité ou l'applicabilité de toute autre disposition. Si une disposition est jugée non valide, inapplicable ou illégale, le présent règlement officiel restera en vigueur et sera interprété conformément à ses termes, comme si la disposition non valide ou illégale n'était pas contenue dans le présent règlement. Le sponsor se réserve le droit de corriger les erreurs d'écriture ou de typographie dans le matériel promotionnel ou dans le présent règlement officiel. Le concours n'est en aucun cas parrainé, approuvé ou administré par, ou associé à Instagram, Facebook ou LinkedIn. Vous comprenez que vous fournissez vos informations au sponsor et non à Instagram, Facebook ou LinkedIn. Les informations que vous fournissez ne seront utilisées que pour gérer le concours conformément à la politique de confidentialité du sponsor. Instagram, Facebook ou LinkedIn sont entièrement dégagés de toute responsabilité par chaque participant à ce concours. Toute question, commentaire ou plainte concernant le concours doit être adressé au sponsor et non à Instagram, Facebook ou LinkedIn. 10. En s'inscrivant et/ou en acceptant un prix, chaque participant consent à l'utilisation de son nom, de son adresse (ville ou province), de sa poignée Instagram, Facebook ou LinkedIn, de sa participation au concours, de ses commentaires, de ses citations, de son matériel biographique, de sa photographie et de son image sans autre autorisation, compensation ou notification, dans le cadre de toute publicité effectuée par ou au nom du commanditaire en ce qui concerne ce concours, sauf dans la mesure où la loi l'interdit. En s'inscrivant et/ou en acceptant un prix, les participants acceptent que le concours soit interprété conformément aux lois de la province de l'Ontario et aux lois du Canada qui s'y appliquent, et que seul un tribunal compétent de l'Ontario soit compétent pour trancher les litiges découlant du concours ou s'y rapportant. Par la présente, les participants acceptent irrévocablement la compétence personnelle de ces tribunaux et renoncent à toute réclamation de forum non conveniens ou de manque de compétence personnelle qu'ils pourraient avoir. 11. Le sponsor se réserve le droit de mettre fin à ce concours ou de le modifier à tout moment et de quelque manière que ce soit, sans préavis. Sans préjudice de ce qui précède, si, pour quelque raison que ce soit, le concours ne peut se dérouler comme prévu, par exemple en raison d'une falsification, l'organisateur se réserve le droit d'annuler le concours. 12. Sauf indication contraire, toute la propriété intellectuelle utilisée par le commanditaire dans le cadre du concours, y compris, mais sans s'y limiter, les marques officielles, les marques de commerce, les noms commerciaux, les logos, les dessins, le matériel promotionnel, les pages Web, les codes sources, les dessins, les illustrations, les slogans et les représentations, appartient au commanditaire (ou fait l'objet d'une licence, selon le cas). Tous les droits sont réservés. La copie ou l'utilisation non autorisée de tout matériel protégé par des droits d'auteur ou de propriété intellectuelle sans le consentement écrit exprès de son propriétaire est strictement interdite. 13. Tous les bulletins de participation deviennent la propriété permanente du sponsor et ne feront pas l'objet d'un accusé de réception ou d'un retour. Aucune correspondance ne sera échangée, sauf avec les participants sélectionnés. Ce concours est soumis à toutes les lois fédérales et provinciales/territoriales applicables. 14. Le sponsor respecte votre droit à la vie privée. Sauf indication contraire dans le présent règlement officiel, les informations personnelles recueillies auprès des participants ne seront utilisées par le sponsor que pour gérer le concours et, uniquement si le consentement est donné au moment de l'inscription, pour fournir aux participants des informations sur les promotions et/ou événements à venir du sponsor, de ses sociétés affiliées et de ses partenaires commerciaux. En participant au concours, tous les participants acceptent les modalités de collecte, d'utilisation et de divulgation des informations personnelles telles qu'elles sont définies dans la politique de confidentialité du sponsor, disponible à l'adresse suivante https://www.singlekey.com/en-ca/privacy-policy/ . Le sponsor n'est pas responsable de toute divulgation faite par un tiers. Les participants peuvent ensuite refuser de recevoir d'autres courriels en suivant les instructions de désinscription figurant dans la politique de confidentialité du sponsor. Pour toute autre question, contactez notre équipe 1-877-978-1404 info@singlekey.com 1. Services de clé unique SingleKey offre une variété de services, notamment le programme de garantie de loyer SingleKey, le rapport de vérification du crédit et des antécédents (" rapport "), les formulaires de présélection et la collecte des loyers SingleKey. Les termes et conditions de ces services sont décrits ci-dessous. Rapport de vérification de crédit et d'antécédents SingleKey Le rapport de SingleKey comprend des données saisies par l'utilisateur ainsi que des données provenant d'agences d'information tierces (y compris, mais sans s'y limiter spécifiquement, des données provenant d'agences d'évaluation du crédit pour les antécédents de crédit, d'agences gouvernementales, d'agences de police, de publications d'information, de bases de données de tribunaux publics, de médias sociaux, de la vérification de votre éducation, de vos antécédents professionnels, etc). Les informations privées sont collectées et distribuées conformément à la législation canadienne applicable en matière de protection de la vie privée, notamment la loi sur la protection des renseignements personnels et les documents électroniques (Personal Information Protection and Electronic Documents Act, https://laws-lois.justice.gc.ca/eng/acts/P-8.6/page-1.html), la loi sur la protection des renseignements personnels de la Colombie-Britannique (B.C. Personal Information Protection Act, https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/03063_01) et la loi sur la protection des renseignements personnels du Nouveau-Brunswick (A.B. Personal Information Protection Act, https://open.alberta.ca/publications/p06p5). Le rapport comprend une vérification des antécédents. Ces informations proviennent de fournisseurs tiers et ne sont pas collectées directement par SingleKey. En outre, l'utilisateur comprend que la recherche de documents judiciaires incluse dans le rapport n'est qu'une recherche d'archives publiques et ne doit pas être interprétée comme une vérification des dossiers judiciaires de la GRC, du FBI ou d'un tribunal local. La commande d'un rapport sur un demandeur apparaît comme une demande de renseignements dans son dossier de crédit, mais elle n'a pas d'impact significatif sur le score de crédit du demandeur. Saisissez les informations relatives au locataire Un propriétaire doit obtenir un consentement écrit avant de pouvoir demander un rapport. La preuve du consentement explicite est apportée à SingleKey lorsque l'utilisateur sélectionne "OUI" sur notre site web. La preuve du consentement peut être demandée à tout moment par SingleKey ou les partenaires de SingleKey. Si un propriétaire ne fournit pas la preuve de son consentement ou tout autre document requis au moment de la demande, SingleKey se réserve le droit de bloquer ou d'annuler la vérification du compte d'utilisateur du propriétaire. Inviter le locataire Les données personnelles transmises à SingleKey par le biais de la méthode "Inviter le locataire" constituent un "consentement explicite" de la part du locataire potentiel qui fournit les informations pour que SingleKey produise un rapport. Produit final Le paiement est nécessaire pour traiter et compléter la demande de rapport d'un demandeur. Tous les paiements sont effectués par l'intermédiaire d'un tiers. Tout rapport acheté par un utilisateur restera dans le compte de l'utilisateur pendant quatre-vingt-dix (90) jours au maximum. Après quatre-vingt-dix (90) jours, le rapport sera supprimé du compte. Si un utilisateur a besoin d'accéder à un ancien rapport, veuillez contacter info@singlekey.com. Le produit final peut être visualisé via le compte de l'utilisateur sur notre site web. Le score SingleKey et le score de crédit fournis dans le rapport sont destinés à agir de manière prédictive et comme un outil d'orientation et non comme une décision finale. Aux fins du rapport, le locataire confirme que toutes les informations fournies dans sa demande sont, à sa connaissance, exactes. Le locataire accorde également par la présente à SingleKey, au propriétaire, à l'agent du propriétaire, à son représentant ou à son gestionnaire immobilier, l'autorisation expresse mais révocable de consulter votre rapport et de procéder à toute vérification nécessaire (à leur discrétion), y compris, mais sans s'y limiter, la prise de contact avec des références ou la vérification d'une preuve de revenu. En donnant leur consentement, les candidats potentiels autorisent SingleKey et les agences de notation tierces de SingleKey à accéder aux informations personnelles pour générer un rapport. Le candidat consent à l'utilisation, à la collecte et à la divulgation contrôlée de ses informations personnelles, y compris ses antécédents locatifs, judiciaires, professionnels, bancaires et financiers, conformément à la politique de confidentialité de SingleKey. . Toute fausse déclaration constitue un motif légal valable de rejet de la candidature d'un locataire par un propriétaire ou par SingleKey. Programme d'orientation SingleKey SingleKey offre aux utilisateurs la possibilité de gagner des points et des récompenses par le biais de son programme de parrainage. SingleKey se réserve le droit de modifier, d'amender ou de résilier les présentes conditions générales, les récompenses offertes dans le cadre du programme de parrainage ou le programme de parrainage dans son ensemble, à tout moment et pour quelque raison que ce soit. Les utilisateurs sont liés par les présentes conditions générales et doivent répondre à certains critères pour participer au programme de parrainage. Les référents ne sont pas autorisés à participer à ce programme de parrainage si les lois ou réglementations applicables l'interdisent. SingleKey se réserve le droit de disqualifier tout référent de la participation au programme de référence à tout moment et à sa seule discrétion, y compris, mais sans s'y limiter, dans les cas où les utilisateurs ne se conforment pas à l'une ou l'autre des présentes conditions générales. Comment fonctionne le programme d'orientation ? Pour participer au programme, les référents ("référent" est un utilisateur existant qui envoie le lien de référence à un utilisateur non existant) doivent d'abord créer un compte sur le site web de SingleKey. Après la création d'un compte, les utilisateurs peuvent accéder à leur lien de parrainage personnel qu'ils peuvent envoyer à des référents (les "référents" sont des personnes qui reçoivent le lien de parrainage d'un utilisateur existant) qui ne sont pas encore des utilisateurs existants sur la plateforme SingleKey. Lorsqu'un parrain envoie son lien de parrainage à un filleul et qu'un achat est effectué par l'intermédiaire de ce lien, le parrain peut être crédité de (1) récompense sous la forme et la valeur déterminées par SingleKey. L'arbitre recevra également une réduction s'il utilise le lien de référence pour son achat. RécompensesLes récompenses n'ont pas de valeur monétaire et ne peuvent pas être échangées contre de l'argent. Les récompenses ne sont pas transférables et ne peuvent être vendues aux enchères, échangées, troquées, retournées ou vendues. En cas de cessation du programme de parrainage, ou de toute partie de celui-ci, toute récompense non échangée est perdue et ne peut être réclamée. Les valeurs reflétées dans le compte d'un utilisateur sont les valeurs sur lesquelles la clé unique doit agir. Toutes les récompenses sont attribuées à la discrétion de SingleKey. Programme de garantie des loyers pour les clés uniques Inscription à la garantie des loyers Dans le cadre du programme de garantie de loyer, les utilisateurs doivent accepter les conditions générales décrites ici. En outre, pour s'inscrire au programme de garantie des loyers, les utilisateurs seront également soumis au contrat de service aux locataires de SingleKey (visitez le site Web pour le consulter séparément). Remboursement du rapport de vérification de crédit et d'antécédents SingleKeyLorsqu'un utilisateur commande un rapport et passe ensuite au programme de garantie des loyers, SingleKey peut proposer au propriétaire de lui rembourser intégralement le prix payé par l'utilisateur. Cette décision est laissée à la discrétion de SingleKey et de son personnel. Un utilisateur n'a pas droit à un remboursement tant qu'il n'a pas été approuvé par un membre de SingleKey. Clé unique - Relations avec les propriétaires Les utilisateurs reconnaissent et comprennent par la présente que le rôle de SingleKey est d'intégrer et de soutenir les utilisateurs. L'étendue de l'obligation de SingleKey envers les utilisateurs est limitée à la fourniture à l'utilisateur d'un service à la clientèle, à l'intégration du client, à la production d'un rapport de solvabilité sur un locataire, à la collecte et à la soumission de tous les documents requis au souscripteur et à la fourniture d'un accès à la plateforme de collecte des loyers en ligne. Les utilisateurs renoncent par la présente à tous les droits qu'ils pourraient avoir à l'égard de SingleKey en droit ou en équité pour toute action de quelque nature que ce soit en ce qui concerne le contrat de service aux locataires, le contrat de garantie de paiement du loyer ou tout autre accord entre le donneur d'ordre et le propriétaire. Les utilisateurs reconnaissent également qu'il leur a été conseillé d'obtenir des conseils juridiques, fiscaux ou autres conseils professionnels indépendants avant de décider de se soumettre au service de vérification de la solvabilité et des antécédents de SingleKey ou au programme de garantie de location de SingleKey, et qu'ils ont procédé à leurs propres vérifications et enquêtes avant d'accepter les présentes conditions. Dans le cadre du programme de garantie de loyer, les utilisateurs doivent accepter les conditions générales décrites ici. En outre, pour s'inscrire au programme de garantie des loyers, les utilisateurs seront également soumis au contrat de service aux locataires de SingleKey (visitez le site Web pour le consulter séparément). Remboursement du rapport de vérification de crédit et d'antécédents SingleKeyLorsqu'un utilisateur commande un rapport et passe ensuite au programme de garantie des loyers, SingleKey peut proposer au propriétaire de lui rembourser intégralement le prix payé par l'utilisateur. Cette décision est laissée à la discrétion de SingleKey et de son personnel. Un utilisateur n'a pas droit à un remboursement tant qu'il n'a pas été approuvé par un membre de SingleKey. Clé unique - Relations avec les propriétairesLes utilisateurs reconnaissent et comprennent par la présente que le rôle de SingleKey est d'intégrer et de soutenir les utilisateurs. L'étendue de l'obligation de SingleKey envers les utilisateurs est limitée à la fourniture à l'utilisateur d'un service à la clientèle, à l'intégration du client, à la production d'un rapport de solvabilité sur un locataire, à la collecte et à la soumission de tous les documents requis au souscripteur et à la fourniture d'un accès à la plateforme de collecte des loyers en ligne. Les utilisateurs renoncent par la présente à tous les droits qu'ils pourraient avoir à l'égard de SingleKey en droit ou en équité pour toute action de quelque nature que ce soit en ce qui concerne le contrat de service aux locataires, le contrat de garantie de paiement du loyer ou tout autre accord entre le donneur d'ordre et le propriétaire. Les utilisateurs reconnaissent également qu'il leur a été conseillé d'obtenir des conseils juridiques, fiscaux ou autres conseils professionnels indépendants avant de décider de se soumettre au service de vérification de la solvabilité et des antécédents de SingleKey ou au programme de garantie de location de SingleKey, et qu'ils ont procédé à leurs propres vérifications et enquêtes avant d'accepter les présentes conditions. Plateforme de collecte de loyers SingleKey La plateforme de perception des loyers de SingleKey (ci-après "perception des loyers") propose de percevoir les loyers pour les propriétaires (en tant que fonction optionnelle). L'encaissement des loyers est proposé par le biais d'une transaction de débit préautorisé (DPA) entre un payeur et un bénéficiaire. Pour bénéficier de cette fonctionnalité, le payeur et le bénéficiaire doivent accepter de signer et de se soumettre aux conditions énoncées dans l'accord de débit préautorisé. En acceptant d'utiliser ce service, le payeur et le bénéficiaire acceptent expressément les conditions générales régissant le service d'encaissement des loyers de SingleKey. SingleKey fait appel à un tiers pour stocker, collecter et traiter les données de paiement. Pour en savoir plus sur la manière dont SingleKey stocke les données, veuillez consulter la politique de confidentialité de SingleKey. Le payeur accepte de permettre à SingleKey d'utiliser ses informations de compte pour retirer un montant de loyer spécifique du compte fourni sur une base régulière (mensuelle) à des fins professionnelles. L'argent est retiré et déposé sur le "compte désigné" du bénéficiaire. Ce service est offert conformément à l'Accord de débit préautorisé de l'Association canadienne des paiements, Règle H1 (Règle H1). Le fait de fournir vos informations bancaires et de remplir les formulaires nécessaires par l'intermédiaire de notre site Web sera considéré comme satisfaisant aux conditions requises pour le DPA. Le payeur ou le bénéficiaire peut décider de mettre fin à ce service à tout moment. Conditions de débit préautoriséL'accord de débit préautorisé est conclu à des fins commerciales en raison de la nature de la relation entre SingleKey, agissant en qualité d'accompagnateur, le propriétaire et le locataire. Le "Payeur" autorise SingleKey et l'institution de paiement identifiée à traiter les paiements par débit préautorisé. L'autorisation est donnée en contrepartie de l'acceptation par l'institution de traitement de traiter les débits pour le compte identifié. Le payeur reconnaît que la remise de la présente autorisation à SingleKey constitue une autorisation pour l'institution de traitement. Le Payeur autorise SingleKey à effectuer des retraits sur ce compte afin de retirer le montant du loyer convenu entre le Payeur et le Bénéficiaire. Les transactions par DPA peuvent être annulées, à condition que la notification soit reçue dix (10) jours ouvrables avant la date de la prochaine transaction. Le payeur accepte de renoncer à la période de notification préalable pour les débits. SingleKey confie le traitement du paiement à une société tierce indépendante pour effectuer la transaction DPA. Le payeur s'engage à informer SingleKey ou le bénéficiaire, par écrit, de toute modification des informations relatives à son compte fournies dans l'accord d'autorisation avant la prochaine échéance du DPA. Le payeur reconnaît par la présente sa compréhension, son acceptation et sa participation à un plan de DPA, qui prévoit certains droits de recours si un débit ne respecte pas le présent accord. Par exemple, le payeur a le droit de se faire rembourser toute opération qui n'est pas autorisée ou qui n'est pas conforme à l'Accord de DPA. Pour obtenir plus d'informations sur les droits de recours du payeur, ce dernier peut contacter son institution financière ou consulter le site www.cdnpay.ca. L'autorisation du payeur sera donnée sur l'accord officiel de DPA, sous la forme d'une signature, afin de permettre à SingleKey d'effectuer les paiements conformément aux termes de cet accord. Les utilisateurs de la plateforme de collecte de loyers consentent à la collecte d'informations personnelles par SingleKey à diverses fins, y compris, mais sans s'y limiter, la tenue et la mise à jour d'un rapport de crédit, et à la divulgation de ces informations à d'autres parties dans le but de déterminer l'aptitude à la location, aux fournisseurs de crédit évaluant l'aptitude au crédit, et aux agences d'évaluation du crédit. L'utilisateur comprend que les rapports ne seront établis que si la preuve de la transaction est apportée par le biais de la plateforme de perception des loyers. Les utilisateurs reconnaissent et comprennent que SingleKey ne peut garantir que certaines informations communiquées par l'intermédiaire de notre service de perception des loyers seront utilisées par les agences de renseignements, qu'elles figureront dans un rapport de solvabilité ou qu'elles auront une incidence sur un pointage de solvabilité. Dans le cadre de cette procédure, les personnes peuvent être informées qu'elles ont fait l'objet d'un signalement. 4. Conditions d'utilisation Utilisation, limitation et accès aux services Tous les utilisateurs sont tenus de créer un profil leur permettant de s'identifier sur notre site web ("compte"). En s'inscrivant à un compte, le propriétaire accepte de fournir des informations actualisées, exactes et complètes pour gérer le compte, y compris une photo d'une pièce d'identité valide délivrée par le gouvernement. Avant la création de votre compte, le profil est "vérifié" afin de s'assurer que les services SingleKey sont utilisés à des fins autorisées. SingleKey se réserve le droit de demander des documents ou des informations supplémentaires avant d'accorder un compte à un utilisateur. L'utilisateur s'engage à prendre des précautions raisonnables pour protéger les données privées, fournies dans le cadre des services SingleKey, contre tout accès non autorisé ou indésirable. L'utilisateur reconnaît qu'il n'est autorisé à utiliser les services SingleKey que pour tenir un compte dans le cadre d'une relation propriétaire-locataire en rapport avec un bien immobilier. Le propriétaire est tenu de s'assurer que seuls les "utilisateurs autorisés" (un employé, une personne ou une partie à qui le propriétaire a donné l'autorisation expresse d'utiliser les services SingleKey en son nom) peuvent accéder à leur compte. L'utilisateur autorisé est soumis aux mêmes obligations en vertu des présentes conditions générales et des documents incorporés par référence, et doit être informé de ces obligations décrites dans le présent accord. Il incombe à l'utilisateur de veiller à la sécurité et à la confidentialité de tous les rapports. En outre, il incombe à tous les utilisateurs de se tenir à jour et de veiller au respect des obligations découlant des présentes conditions générales, ainsi que de toute politique applicable. L'utilisateur doit immédiatement informer SingleKey s'il soupçonne ou a connaissance d'un accès non autorisé, de tentatives d'accès ou d'une utilisation abusive de tout aspect du service SingleKey par l'intermédiaire de son compte, car le non-respect de cette obligation peut entraîner la résiliation de votre compte. Suspension et résiliation du compteSingleKey se réserve le droit de suspendre, de restreindre ou de résilier le compte d'un utilisateur et l'utilisation du site Web par ledit utilisateur, à tout moment, sans préavis, pour quelque raison que ce soit, y compris mais sans s'y limiter ; Lorsque le fonctionnement ou l'efficacité du site Web ou des services de SingleKey sont entravés par l'utilisation des services de SingleKey par l'utilisateur, Lorsqu'un montant de paiement est dû à SingleKey par un utilisateur et qu'il est en souffrance, SingleKey a reçu une plainte d'un tiers concernant l'utilisation ou la mauvaise utilisation du site web par un utilisateur, En cas de tentative d'utilisation abusive de tout aspect des services SingleKey par l'intermédiaire de votre compte, Lorsque l'utilisateur ne respecte pas l'un des termes ou l'une des conditions des présentes conditions ou de tout document incorporé par référence, Lorsque SinlgleKey estime que le compte est utilisé pour commettre une fraude ou voler des informations privées, et/ou ; Lorsque la suspension totale ou partielle de vos services SingleKey est nécessaire pour se conformer à la législation en vigueur. À la suite de la suspension ou de la résiliation de votre compte, il n'incombe pas à SingleKey d'aviser les tiers, y compris les tiers fournisseurs de services, de marchandises ou d'information, de toute suspension, restriction ou résiliation de votre accès au site Web. 5. Dispositions générales Contenu du site web Les informations et les données mises à la disposition des utilisateurs par l'intermédiaire du site web de SingleKey, y compris, mais sans s'y limiter, les textes, les logos de conception, les graphiques, les icônes, les images, les interfaces utilisateur, les téléchargements, les marques, les codes et les logiciels ("contenu" ci-après) sont la propriété exclusive de SingleKey et sont soumises aux dispositions des lois applicables en matière de propriété intellectuelle. Par conséquent, aucun contenu ne peut être copié, republié, téléchargé, téléchargé, réaffiché, publié ou affiché ou distribué publiquement de quelque manière que ce soit sans l'autorisation expresse et écrite de SingleKey. Clause de cession Tous les accords conclus entre l'utilisateur et SingleKey seront contraignants au profit (a) de tout successeur du Principe. Tout successeur du principe sera considéré comme substitué dans les présentes conditions à toutes fins utiles. À cette fin, on entend par "successeur" toute personne, entreprise, société ou autre entité commerciale qui, à tout moment, par achat, fusion ou autre, acquiert directement ou indirectement la totalité ou la quasi-totalité de ses actifs ou de ses activités. Licence d'utilisation SingleKey choisit d'accorder aux utilisateurs une licence non exclusive, incessible, limitée et révocable pour accéder aux services SingleKey. En outre, l'utilisateur reconnaît et accepte qu'il n'acquiert ni ne revendique aucun titre, droit ou licence de propriété sur les droits de propriété intellectuelle de SingleKey en vertu des droits qui vous sont accordés dans le cadre des présentes conditions générales ou de tout autre accord auquel vous pouvez être partie et qui concerne SingleKey, y compris, mais sans s'y limiter, les rapports. Tous les droits de propriété intellectuelle de SingleKey sur nos services SingleKey restent acquis à SingleKey (et à ses concédants de licence respectifs). Les utilisateurs reconnaissent et acceptent qu'ils n'agiront ou n'agiront pas, à tout moment, d'une manière susceptible d'affecter la propriété de SingleKey (et de ses concédants de licence) sur ces droits. L'utilisateur accepte par la présente d'accorder à SingleKey un droit perpétuel, irrévocable, international, non exclusif, transférable et libre de redevance d'utiliser, de copier, de modifier, de distribuer et d'afficher toutes les données ou dérivés qui peuvent être collectés dans le cadre des services SingleKey. La présente licence limitée sera maintenue après la résiliation, l'annulation, l'expiration ou la modification des présentes conditions générales. L'utilisateur accepte de posséder et de conserver tous les droits, titres et intérêts relatifs aux données que vous avez introduites dans SingleKey. Ce droit de propriété sur vos données exclut les droits limités expressément accordés ci-dessus. Restrictions de service Lors de l'utilisation d'un service SingleKey, vous vous engagez à ne pas : télécharger, transmettre ou utiliser tout service SingleKey d'une manière pouvant être considérée comme menaçante, embarrassante, haineuse, racialement ou ethniquement inappropriée, insultante, calomnieuse ou autrement diffamatoire ; utiliser le service SingleKey d'une manière qui enfreigne, viole ou détourne la propriété intellectuelle ou d'autres droits de propriété d'un tiers, utiliser le service SingleKey d'une manière qui pourrait être interprétée comme trompeuse, mensongère, frauduleuse, illégale ou comme promouvant des activités illégales. Cela inclut, sans s'y limiter, l'hameçonnage, l'obtention d'informations financières ou d'autres informations personnelles d'une manière trompeuse à des fins frauduleuses ou trompeuses, utiliser le service SingleKey d'une manière qui, à notre seule discrétion, pourrait l'endommager, le désactiver, le surcharger ou l'altérer, tenter d'obtenir un accès non autorisé au service SingleKey, à d'autres comptes, à des systèmes informatiques ou à des réseaux connectés au service SingleKey, ou à toute partie de celui-ci, par le biais du piratage, de l'extraction de mots de passe, interférer ou tenter d'interférer avec le bon fonctionnement du service SingleKey ou avec toute activité menée par SingleKey, modifier le service SingleKey de quelque manière que ce soit, dans le but d'obtenir un accès non autorisé à tout service SingleKey, utiliser un robot, une araignée, un scraper ou tout autre moyen automatisé d'accéder au service à quelque fin que ce soit sans notre autorisation écrite expresse, ou contourner toute mesure que nous pourrions utiliser pour empêcher ou restreindre l'accès au service SingleKey, se faire passer pour un autre utilisateur ou accéder au compte d'un autre utilisateur sans son autorisation expresse ; modifier, adapter, traduire ou créer des œuvres dérivées basées sur le service SingleKey, faire de l'ingénierie inverse, décompiler, désassembler ou tenter de découvrir le code source des services Singley, sauf et seulement dans la mesure où une telle activité est expressément autorisée par la loi applicable, supprimer, contourner, désactiver, endommager ou interférer de toute autre manière avec les fonctions liées à la sécurité du service SingleKey, les fonctions qui empêchent ou restreignent la copie de tout contenu accessible par le biais de nos services, ou les fonctions qui imposent des limitations à l'utilisation de nos services, télécharger des données invalides, des virus, des vers ou d'autres agents logiciels par l'intermédiaire du service ou du site web SingleKey, accéder au service SingleKey si vous êtes un concurrent direct de SingleKey, sauf accord préalable écrit ou exprès, accéder au service SingleKey dans le but de créer un produit ou un service concurrent en utilisant des idées, des caractéristiques, des fonctions ou des graphiques similaires à ceux des services SingleKey, afin de concurrencer directement l'un des services SingleKey, ou à toute autre fin concurrentielle, diffuser publiquement les informations relatives aux performances du service de clé unique, d'encourager ou d'aider un tiers à faire ce qui précède, et, utiliser le service SingleKey en violation d'une loi, d'un règlement ou d'une règle étrangère, fédérale, étatique ou locale. Paiement SingleKey demande aux deux utilisateurs des informations personnelles de paiement afin de procéder au paiement. Lorsque vous fournissez des détails de paiement sur notre site web, un instrument de paiement valide est requis. Nous ne traitons aucun paiement et ne conservons aucun détail de paiement pour les transactions, à moins que l'utilisateur n'en prenne la décision en toute connaissance de cause. Les informations de paiement fournies à SingleKey sont stockées et traitées par deux sociétés de paiement tierces indépendantes. SingleKey conserve le numéro de compte de l'utilisateur afin de mettre à jour les documents et de modifier les informations personnelles ou de paiement si nécessaire. Par conséquent, tous les paiements et toutes les informations personnelles fournis par l'intermédiaire du site web sont soumis aux politiques de confidentialité et aux conditions de service pour le stockage des agences tierces. Pour plus de détails, veuillez nous contacter pour en savoir plus sur la manière dont vos données sont stockées et protégées. Respect des lois applicables. Les utilisateurs acceptent de se conformer à toutes les lois canadiennes fédérales, provinciales, municipales et autres lois applicables dans la province de l'Ontario. Cela inclut, sans s'y limiter, les lois sur les rapports des consommateurs, les lois sur la protection de la vie privée, les règlements, les ordonnances judiciaires et les autres ordonnances de tout tribunal administratif qui peuvent s'appliquer. Les utilisateurs doivent obtenir le consentement des personnes susceptibles d'être soumises aux présentes conditions générales et les en informer, comme l'exige la loi, y compris la législation applicable en matière de protection de la vie privée, avant de s'enrôler dans les services SingleKey ou de les utiliser. Si nécessaire, il peut être demandé aux utilisateurs de modifier leurs pratiques afin que SingleKey puisse fournir légalement ses services SingleKey. SingleKey a le droit de refuser l'octroi de tout service à un utilisateur individuel pour quelque raison que ce soit, y compris le non-respect de ces demandes. Tous les termes, conditions et transactions relevant du présent accord sont soumis à la loi sur la protection des consommateurs de l'Ontario, de sorte que toute disposition du présent accord qui n'est pas conforme doit être modifiée de manière à l'être. Confidentialité Vous acceptez de garder confidentielles toutes les données reçues par SingleKey ou par un tiers, y compris, mais sans s'y limiter, les services de SingleKey. Toute information que vous recevez dans le cadre des services SingleKey ne doit pas être distribuée sous quelque forme que ce soit, sauf si cela est strictement requis par une loi ou une autre ordonnance légale ou si une autorisation expresse est accordée. En outre, SingleKey reconnaît que les propriétaires recevront des informations de nature confidentielle et/ou exclusive dans le cadre des services SingleKey. Vous acceptez que ces informations confidentielles et exclusives soient conservées dans la plus stricte confidentialité et qu'elles ne soient pas divulguées. (i) distribués aux utilisateurs autorisés qui sont soumis aux présentes conditions générales ; (ii) divulgués uniquement sur demande aux agences gouvernementales de régulation ; (iii) divulgués conformément à la loi ; ou (iv) selon les instructions de l'utilisateur individuel dont les données font l'objet du rapport. Les utilisateurs sont tenus de protéger ces informations confidentielles ou exclusives avec le plus grand soin raisonnable, comme l'exige la loi. Clause de non-responsabilité SingleKey informe les utilisateurs des clauses de non-responsabilité suivantes ; Les utilisateurs reconnaissent que SingleKey reçoit les informations incluses dans les rapports de la part de tiers indépendants qui échappent au contrôle de SingleKey. SingleKey n'est pas responsable du contenu du rapport, qu'il soit correct ou incorrect. En cas de divergence, les utilisateurs ont le droit d'introduire un litige par l'intermédiaire de l'agence tierce elle-même. Les utilisateurs acceptent de renoncer au droit de soulever un tel litige avec SingleKey et, par conséquent, de tenir SingleKey indemne et non responsable de ces informations incorrectes. Le rapport ne doit pas être la seule base de décision d'un utilisateur. Les utilisateurs doivent prendre en considération d'autres facteurs qu'un décideur raisonnable dans une situation similaire prendrait en compte. Il est recommandé aux utilisateurs de ne pas présumer d'un résultat ou d'une conclusion sur la seule base d'un rapport. SingleKey ne déclare pas que le rapport est identique ou similaire à tout autre score de crédit, modèle de notation ou outil d'évaluation. Les informations de crédit contenues dans le rapport de crédit du SingleKey Credit and Background Check Report reflètent les données les plus récentes dont disposent les agences d'évaluation du crédit tierces. Par conséquent, certaines transactions ou certains frais récents qui peuvent affecter le score de crédit pertinent peuvent ne pas être immédiatement disponibles, car un score de crédit est susceptible de changer. L'aspect casier judiciaire de notre rapport est constitué de données fournies par une agence d'information tierce et peut ne pas être disponible pour tous les candidats ou à tout moment pour diverses raisons, y compris des raisons indépendantes de notre volonté (par exemple : erreur de saisie de l'utilisateur). Nous ne sommes pas une agence gouvernementale et nous ne contrôlons ni ne vérifions le contenu des casiers judiciaires ou des rapports sur les véhicules à moteur, y compris les rapports obtenus par l'intermédiaire du service. Nous ne sommes pas responsables du contenu d'un casier judiciaire ou d'un rapport sur les véhicules à moteur, qu'il soit correct ou incorrect. Vous acceptez donc de dégager SingleKey de toute responsabilité pour tout préjudice découlant ou pouvant découler de la confiance que vous accordez à un rapport. SingleKey ne garantit pas que ses services seront exécutés sans interruption ni erreur. Si un rapport contient des scores incorrects, la seule obligation de SingleKey envers le propriétaire dans de tels cas sera de reproduire un nouveau rapport ou, si l'erreur ne peut être résolue, d'effectuer un remboursement partiel ou total du rapport (à la discrétion de SingleKey). SingleKey n'est en aucun cas responsable de l'exécution d'un processus de vérification ou d'une autre forme de contrôle d'un propriétaire. SingleKey n'est pas responsable de toute transaction entre le locataire et le propriétaire ou de tout résultat défavorable qui pourrait en découler. SingleKey ne fait aucune déclaration, ne donne aucune garantie autre que celles expressément énoncées dans les présentes conditions générales. SingleKey n'est pas responsable du respect des conditions du programme de garantie de location. SingleKey n'est pas responsable des pertes ou dommages causés par l'échec d'un score utilisé pour prédire avec précision la valeur potentielle d'une personne. Indemnisation Les utilisateurs acceptent d'indemniser et de dégager de toute responsabilité SingleKey et leurs dirigeants, administrateurs et employés respectifs en cas de réclamations, demandes, actions, poursuites ou autres procédures, quelle qu'en soit l'origine, et en cas de pertes, coûts, amendes, prélèvements, dommages, dépenses (y compris les frais et débours juridiques sur une base avocat-client et tous les coûts encourus en rapport avec l'application de la présente indemnité), impôts, pénalités et autres responsabilités, quels qu'ils soient, découlant directement ou indirectement de, ou en rapport avec : (a) SingleKey agissant conformément aux instructions du bailleur ; (b) le non-paiement du loyer par le locataire ; (c) le non-paiement ou le retard de paiement par le débiteur principal pour quelque raison que ce soit ; ou (d) toute violation d'une déclaration, d'une garantie ou d'un engagement conclu entre les utilisateurs et SingleKey. Cette indemnité survivra à la cessation de la relation des utilisateurs avec SingleKey, ou à la cessation de l'accès au compte des utilisateurs. Limitation de la responsabilité. En aucun cas les utilisateurs ne décideront de tenir SingleKey pour responsable des dommages consécutifs, accessoires, indirects, spéciaux, exemplaires ou punitifs qu'un utilisateur pourrait avoir subis, découlant de l'exécution des présentes conditions d'utilisation, y compris, mais sans s'y limiter, la perte de données, la perte de profits, la perte de revenus et la perte d'informations, indépendamment du fait qu'une réclamation pour pertes ou dommages puisse ou non être présentée dans le cadre d'un contrat, d'un délit civil, d'une négligence, d'une responsabilité stricte ou autre, même si SingleKey a été informée de la possibilité de tels dommages. En outre, la responsabilité collective globale de SingleKey envers toute personne, y compris les utilisateurs individuels ou les utilisateurs tiers, ne peut en aucun cas dépasser le montant total des frais payés à SingleKey depuis le début de l'utilisation des services de SingleKey jusqu'à la période d'un (1) mois précédant immédiatement l'événement donnant lieu à une réclamation en responsabilité de la part de la partie individuelle soulevant la réclamation. cette limitation de responsabilité survit et s'applique nonobstant la validité des recours limités prévus dans les présentes conditions d'utilisation. Sites de tiers. Une partie des services SingleKey peut contenir des liens vers des services de tiers ou les utiliser. Lorsque SingleKey fournit un lien vers un site Web, cela ne signifie pas que SingleKey garantit ou approuve ledit site Web, les personnes associées à ce site Web ou l'une quelconque des offres dudit site Web. Les liens envoyés aux utilisateurs ou contenus dans le présent site web sont fournis uniquement pour la commodité de l'utilisateur. Les utilisateurs accèdent aux sites web de tiers à leurs propres risques. Les sites web de tiers et leur contenu échappent au contrôle de SingleKey et, par conséquent, SingleKey ne peut être tenu responsable des actions menées sur les sites de tiers. Intégralité de l'accord. Les conditions générales énumérées dans le présent document, dans leur intégralité, comprennent toutes les conditions et tous les accords entre les utilisateurs et SingleKey, en ce qui concerne l'objet du présent document. Les présentes conditions générales s'appliquent conjointement à la convention de services aux locataires et à la politique de confidentialité de SingleKey. Ces documents annulent et remplacent tous les accords et communications antérieurs sur l'objet des présentes conditions générales, qu'ils soient oraux ou écrits, explicites ou implicites. Force Majeure SingleKey n'est pas responsable de la non-exécution, du retard d'exécution ou de l'exécution inadéquate causés par des conditions échappant à son contrôle commercialement raisonnable, y compris, mais sans s'y limiter, les actes de nos autorités civiles ou militaires, l'état de guerre, les actes de terrorisme, les urgences nationales, les actes ou omissions de tout utilisateur, les grèves, les épidémies (y compris les épidémies et les pandémies), la défaillance des services publics, la défaillance des moyens de communication, les embargos, les catastrophes naturelles, les pandémies, les incendies, les inondations ou l'adoption de lois, de règlements ou d'autres ordonnances des autorités publiques. Survie Nonobstant l'expiration, la modification ou la résiliation des présentes conditions, il est expressément prévu que les présentes conditions, de par leur nature, se prolongent au-delà de la durée de vie et d'existence des présentes conditions et restent en vigueur conformément à leurs termes. Inapplicabilité des dispositions Chaque section et disposition des présentes conditions générales est dissociable du reste de l'accord. Si un paragraphe ou une disposition est déclaré(e) invalide, les autres sections et dispositions restent pleinement en vigueur. SingleKey négociera en toute bonne foi une modification appropriée de la clause ou de la condition invalide respective pour remplacer la disposition invalide. Si les parties ne parviennent pas à se mettre d'accord sur une modification appropriée, les présentes conditions générales seront interprétées comme suit (a) comme si la disposition invalide ou inapplicable, ou une partie de celle-ci, avait été effectivement modifiée dans la mesure nécessaire pour éviter l'illégalité ou l'inapplicabilité de cette disposition, si cela est possible, et si cela ne l'est pas, alors (b) comme si cette disposition ou partie de disposition invalide ou inapplicable n'avait pas été contenue dans le présent document. Des rubriques uniquement pour des raisons de commodité La division des présentes conditions générales en sections et sous-sections n'a pour but que de faciliter les références et n'affecte pas l'interprétation des présentes conditions générales. Renonciation Aucune partie n'est réputée avoir renoncé à l'exercice d'un droit qu'elle détient en vertu des présentes conditions générales ou de la loi, à moins que cette renonciation ne soit expressément faite par écrit. Le fait qu'une partie n'exige pas, à quelque moment que ce soit et pour quelque durée que ce soit, l'exécution par l'autre partie d'une obligation au titre des présentes conditions générales n'affecte en aucun cas le droit d'exiger l'exécution de cette obligation ou le droit de réclamer des réparations en cas de violation au titre du présent accord ou en vertu de la loi. La renonciation par une partie à toute violation d'une disposition des présentes conditions générales, sauf indication contraire expresse et écrite, ne doit pas être interprétée comme une renonciation à toute violation continue ou ultérieure de cette disposition, une renonciation ou une modification de la disposition elle-même, ou une renonciation ou une modification de tout droit en vertu des présentes conditions générales ou de la loi. 6. Règlement du concours SingleKey 100K User Giveaway Règlement officiel 1, AUCUN ACHAT OU PAIEMENT N'EST NÉCESSAIRE POUR PARTICIPER OU GAGNER: Le concours SingleKey 100 000 utilisateurs (le " concours ").concours") est parrainé par Single-Key Inc ("SingleKey" ou le "commanditaire"). Le concours débute à 12:00:01 AM, heure de l'Est ("ET) le 24 août 2023 et se termine à 23:59:59 PM ET le 15 septembre 2023 (la " période du concours ").période du concours"). Toutes les références dans les présentes règles (les "Règlement officiel") sont à l'heure de l'Est. En participant au concours, les participants acceptent de respecter et d'être liés par le présent règlement officiel. 2. ÉLIGIBILITÉ: Le concours est ouvert aux résidents légaux de l'Ontario (à l'exclusion de la province de Québec) qui, au moment de leur inscription et à la date de clôture du concours (voir règle 3) (a) ont atteint l'âge de la majorité dans leur province de résidence. Les employés, représentants et agents du commanditaire, de ses sociétés affiliées et de leurs agences promotionnelles respectives, ou de l'organisation indépendante du concours, le cas échéant, (le commanditaire et ces entités, collectivement, les "Entités de promotion"), les membres de la famille proche de ces personnes (quel que soit le lieu de résidence de ces membres de la famille) et les personnes avec lesquelles ces personnes résident (qu'elles aient un lien de parenté ou non) ne sont pas autorisés à participer ou à gagner. La "famille immédiate" est définie comme (a) les conjoints ou les partenaires domestiques, et (b) les parents, les frères et sœurs et les enfants, ainsi que leurs conjoints et partenaires domestiques respectifs. 3. COMMENT ENTRER: Pendant la période du concours : -Publier une vidéo sur Instagram, Facebook ou LinkedIn expliquant pourquoi vous utilisez SingleKey.-Indiquez @Singlekeycom dans le message sur Instagram ou Facebook, ou indiquez @Singlekey dans le message sur LinkedIn.Le compte Instagram, Facebook ou LinkedIn du participant ne doit pas nécessairement être public. Les participants peuvent s'inscrire plusieurs fois au concours, mais ne pourront pas gagner plus d'une fois. Les participations qui ne satisfont pas aux exigences énoncées dans le présent règlement officiel peuvent être supprimées et ne sont pas admissibles au concours. Les participations doivent être reçues au plus tard à 11:59:59 PM ET le 15 septembre 2023 (le "Date de clôture du concours"). Toute tentative de participation d'une manière autre que celle décrite dans le présent règlement officiel ne constituera pas une participation valable. L'utilisation de tout système automatisé pour s'inscrire ou participer à ce concours est interdite et entraînera automatiquement la disqualification.4. FORMAT ET CONTENU DE LA VIDÉO Chaque vidéo :i. ne doit pas, à la seule et entière discrétion du sponsor, contenir de nudité, de contenu sexuellement explicite, dénigrant, discriminatoire, diffamatoire ou autre contenu inapproprié ; ii. Doit être destiné à un public familial et ne contenir que du contenu qui, à la seule et entière discrétion du sponsor, est adapté à toutes les personnes, y compris les personnes âgées de moins de 13 ans ; iii. Ne doit pas contenir de langage suggérant ou encourageant une activité illégale ;iv. Ne doit être soumis qu'une seule fois ; v. ne doit pas contenir de produits et/ou de marques de commerce, de marques, de logos ou de droits d'auteur de tiers identifiables, autres que ceux du sponsor, ni quoi que ce soit qui enfreigne ou puisse enfreindre les droits de quiconque, y compris les droits de propriété intellectuelle ;vi. Doit être au format mp4, mov, wmv ou avi ;vii. Doit être original et expliquer pourquoi le participant utilise les services du sponsor Les candidatures sont soumises à l'approbation du sponsor et doivent satisfaire à toutes les exigences énoncées ci-dessus. Les participations qui ne satisfont pas aux exigences susmentionnées (ou qui sont autrement considérées comme inappropriées, à la seule et entière discrétion de l'Organisateur) seront annulées et ne pourront pas être prises en compte dans le cadre du Concours. Si un participant a publié un contenu inapproprié, il sera disqualifié. Le sponsor peut, à sa seule discrétion, choisir d'utiliser, en tout ou en partie, toute participation, y compris toute vidéo, à ce concours pour ses propres activités publicitaires et/ou promotionnelles futures, sans préavis ni compensation. Chaque participant garantit aux parties exonérées (voir règle 9) que son œuvre n'enfreint ni ne viole aucun droit d'auteur ou autre propriété intellectuelle et qu'en soumettant son œuvre, il cède tous les droits d'auteur au sponsor et renonce à tous les droits moraux sur son œuvre.5. PRIX: Un prix disponible : Il y a un (1) prix disponible à gagner par le gagnant du prix (un " gagnant "), consistant en une carte-cadeau totalisant la somme de 1 000 $CAN. Le sponsor se réserve le droit, à tout moment, de remplacer un prix ou un élément de celui-ci, pour quelque raison que ce soit, par un prix ou un élément de prix de valeur égale ou supérieure. 6. TIRAGE AU SORT: Un tirage au sort du prix (le " tirage ") aura lieu le 18 septembre 2023 (la " date du tirage ") à environ 10 h 00 (HE) dans les bureaux du commanditaire à Toronto, en Ontario, parmi toutes les inscriptions admissibles reçues avant la date de clôture du concours. Les chances d'être sélectionné dépendent du nombre total d'inscriptions admissibles reçues avant la date de clôture du concours. 7. NOTIFICATION DU GAGNANT: Le sponsor tentera de contacter les participants sélectionnés par message direct dans les 48 heures suivant la date du tirage au sort, afin d'obtenir leurs coordonnées pour qu'un formulaire de déclaration et de décharge (décrit ci-dessous) puisse être envoyé par courrier électronique et que la question d'habileté mathématique puisse être administrée pour confirmer que les participants sélectionnés sont qualifiés pour le(s) prix. Le sponsor peut exiger d'un participant une preuve d'identité ou d'éligibilité (sous une forme acceptable par le sponsor). Le fait de ne pas fournir cette preuve dans les délais impartis peut entraîner la disqualification du participant par le sponsor, à sa seule discrétion. Si (a) le participant sélectionné ne répond pas ou répond correctement à la question ; (b) le participant sélectionné est considéré comme mineur ou l'était au moment de sa participation, ou est jugé inéligible pour toute autre raison ; (c) malgré des efforts raisonnables, le participant sélectionné ne répond pas dans les deux (2) jours ouvrables suivant la première tentative de notification, ou (d) si le prix ou la notification du prix est retourné comme non réclamé ou non livrable au participant sélectionné, ce dernier sera disqualifié. Un autre participant sera sélectionné par tirage au sort parmi tous les autres bulletins de participation admissibles reçus. Le sponsor n'est pas responsable si une notification est perdue, interceptée ou non reçue par le gagnant potentiel pour quelque raison que ce soit. Le participant sélectionné doit remplir un formulaire de déclaration et d'exonération de responsabilité, qui doit être renvoyé dans le délai spécifié, accompagné de tout autre document que le sponsor peut exiger. Si le(s) document(s) rempli(s) n'est (ne sont) pas renvoyé(s) dans les délais ou si le(s) document(s) est (sont) renvoyé(s) parce qu'il(s) n'est (ne sont) pas livrable(s), le prix sera annulé et, dans ce cas, un autre participant sélectionné pourra être choisi au hasard comme indiqué ci-dessus. Si un gagnant n'est pas désigné après avoir tenté de contacter trois (3) participants supplémentaires, le sponsor peut décider de ne pas attribuer le prix.8. GÉNÉRALITÉS: En participant au concours, les participants acceptent de respecter et d'être liés par le présent règlement officiel et par les décisions du sponsor concernant tous les aspects du concours, qui sont définitives et contraignantes à tous égards en ce qui concerne ce concours. En cas d'incohérence entre le présent règlement officiel et d'autres déclarations contenues dans tout matériel lié au concours, y compris, mais sans s'y limiter, le message du concours, la publicité imprimée ou en ligne, les termes et conditions du présent règlement officiel prévaudront.9. DÉCHARGE DE RESPONSABILITÉ GÉNÉRALE/FORCE MAJEURE: Les participants acceptent que les entités de la promotion et chacun des membres de leur conseil, dirigeants, administrateurs, gouverneurs, partenaires, partenariats, directeurs, employés, bénévoles, représentants, agents, affiliés, entités liées, successeurs et ayants droit respectifs (les entités de la promotion, collectivement avec ces autres entités et personnes, les "parties déchargées") s'acquittent de leurs obligations en matière de responsabilité.parties déchargées") (A) ne sont pas responsables de l'ensemble des coûts, blessures, pertes ou dommages de quelque nature que ce soit, dus en tout ou en partie, directement ou indirectement, à la participation au concours ou à toute activité liée au concours ou à l'acceptation, la réception, la possession, l'utilisation et/ou la mauvaise utilisation d'un prix par les participants, et sont par la présente dégagés de toute responsabilité à cet égard, et (B) n'ont donné aucune garantie, représentation ou garantie de quelque nature que ce soit, en fait ou en droit, en ce qui concerne un prix, y compris, mais sans s'y limiter, la qualité ou l'adéquation d'un prix à un usage particulier, et rejettent toute garantie implicite. En participant au concours, chaque participant libère par la présente les parties exonérées de toute réclamation pouvant résulter de l'utilisation par une partie non autorisée des informations personnelles du participant ou de sa participation à quelque fin que ce soit. Chaque participant libère en outre le sponsor de toute demande de redevances, de dommages et intérêts ou d'autres mesures de redressement, ainsi que de toute revendication de paternité, de droits d'auteur, de droits moraux ou de droits de la personnalité liés à la participation ou aux participations du participant ou à l'utilisation qui en est faite. Les parties exonérées n'assument aucune responsabilité pour les dommages causés au système informatique ou au téléphone sans fil d'un participant ou de toute autre personne en raison de l'accès au site web ou de la participation au concours, ou pour tout dysfonctionnement du système informatique, de la ligne téléphonique, du matériel, des logiciels ou des programmes, ou pour d'autres erreurs, défaillances, transmissions informatiques retardées ou connexions de réseau de nature humaine ou technique. Sans limiter la généralité de ce qui précède, le sponsor n'est pas responsable des inscriptions incomplètes, illisibles, mal adressées, mal imprimées, tardives, perdues, endommagées, volées, ni des courriers électroniques ou postaux ou des notifications de prix ; ni des réseaux, serveurs, satellites, fournisseurs d'accès à Internet, sites Web ou autres connexions perdus, interrompus, inaccessibles ou indisponibles ; ou pour des erreurs de communication, des transmissions informatiques, téléphoniques ou par câble ratées, confuses, brouillées, retardées ou mal dirigées ; ou pour des dysfonctionnements techniques, des défaillances, des difficultés ou d'autres erreurs de quelque nature que ce soit ; ou pour la saisie incorrecte ou inexacte d'informations, ou pour l'impossibilité de saisir des informations. Aucune inscription reproduite mécaniquement, illisible, incomplète, falsifiée, générée par un logiciel ou toute autre inscription automatisée ne sera acceptée. Le sponsor se réserve le droit de modifier, de prolonger, de suspendre ou de mettre fin au concours s'il détermine, à sa seule discrétion, que le concours est techniquement altéré ou corrompu ou qu'une fraude ou des problèmes techniques, des défaillances ou des dysfonctionnements ou d'autres causes ont détruit ou gravement compromis ou, dans une certaine mesure, altéré l'intégrité, l'administration, la sécurité, le bon déroulement et/ou la faisabilité du concours. Si le concours est interrompu ou suspendu avant la date de clôture du concours, un avis sera publié sur le compte de médias sociaux du sponsor et ce dernier sélectionnera (si possible) le(s) gagnant(s) par tirage au sort parmi tous les bulletins de participation éligibles et non suspects reçus légitimement à la date de l'événement donnant lieu à l'interruption du concours. L'inclusion dans un tel tirage au sort constitue le seul et unique recours de chaque participant dans de telles circonstances. L'invalidité ou l'inapplicabilité de toute disposition du présent règlement officiel n'affectera pas la validité ou l'applicabilité de toute autre disposition. Si une disposition est jugée non valide, inapplicable ou illégale, le présent règlement officiel restera en vigueur et sera interprété conformément à ses termes, comme si la disposition non valide ou illégale n'était pas contenue dans le présent règlement. Le sponsor se réserve le droit de corriger les erreurs d'écriture ou de typographie dans le matériel promotionnel ou dans le présent règlement officiel.Le concours n'est en aucun cas parrainé, approuvé ou administré par, ou associé à Instagram, Facebook ou LinkedIn. Vous comprenez que vous fournissez vos informations au sponsor et non à Instagram, Facebook ou LinkedIn. Les informations que vous fournissez ne seront utilisées que pour gérer le concours conformément à la politique de confidentialité du sponsor. Instagram, Facebook ou LinkedIn sont entièrement dégagés de toute responsabilité par chaque participant à ce concours. Toute question, commentaire ou plainte concernant le concours doit être adressé au sponsor et non à Instagram, Facebook ou LinkedIn.10. En s'inscrivant et/ou en acceptant un prix, chaque participant consent à l'utilisation de son nom, de son adresse (ville ou province), de sa poignée Instagram, Facebook ou LinkedIn, de sa participation au concours, de ses commentaires, de ses citations, de son matériel biographique, de sa photographie et de son image sans autre autorisation, compensation ou notification, dans le cadre de toute publicité effectuée par ou au nom du commanditaire en ce qui concerne ce concours, sauf dans la mesure où la loi l'interdit. En s'inscrivant et/ou en acceptant un prix, les participants acceptent que le concours soit interprété conformément aux lois de la province de l'Ontario et aux lois du Canada qui s'y appliquent, et que seul un tribunal compétent de l'Ontario soit compétent pour trancher les litiges découlant du concours ou s'y rapportant. Par la présente, les participants acceptent irrévocablement la compétence personnelle de ces tribunaux et renoncent à toute réclamation de forum non conveniens ou de manque de compétence personnelle qu'ils pourraient avoir.11. Le sponsor se réserve le droit de mettre fin à ce concours ou de le modifier à tout moment et de quelque manière que ce soit, sans préavis. Sans limiter la portée de ce qui précède, si, pour quelque raison que ce soit, le concours ne peut se dérouler comme prévu, par exemple en raison d'une falsification, l'organisateur se réserve le droit d'annuler le concours. 12. Sauf indication contraire, toute la propriété intellectuelle utilisée par le commanditaire dans le cadre du concours, y compris, mais sans s'y limiter, les marques officielles, les marques de commerce, les noms commerciaux, les logos, les dessins, le matériel promotionnel, les pages Web, les codes sources, les dessins, les illustrations, les slogans et les représentations, appartient au commanditaire (ou fait l'objet d'une licence, selon le cas). Tous les droits sont réservés. La copie ou l'utilisation non autorisée de tout matériel protégé par des droits d'auteur ou de propriété intellectuelle sans le consentement écrit exprès de son propriétaire est strictement interdite.13. Tous les bulletins de participation deviennent la propriété permanente du sponsor et ne feront pas l'objet d'un accusé de réception ou d'un retour. Aucune correspondance ne sera échangée, sauf avec les participants sélectionnés. Ce concours est soumis à toutes les lois fédérales et provinciales/territoriales applicables.14. Le sponsor respecte votre droit à la vie privée. Sauf indication contraire dans le présent règlement officiel, les informations personnelles recueillies auprès des participants ne seront utilisées par le sponsor que pour gérer le concours et, uniquement si le consentement est donné au moment de l'inscription, pour fournir aux participants des informations sur les promotions et/ou événements à venir du sponsor, de ses sociétés affiliées et de ses partenaires commerciaux. En participant au concours, tous les participants acceptent les modalités de collecte, d'utilisation et de divulgation des informations personnelles telles qu'elles sont définies dans la politique de confidentialité du sponsor, disponible à l'adresse suivante https://www.singlekey.com/en-ca/privacy-policy/. Le sponsor n'est pas responsable de toute divulgation faite par un tiers. Les participants peuvent ensuite refuser de recevoir d'autres courriels en suivant les instructions de désinscription figurant dans la politique de confidentialité du sponsor. --- ### Rapport du locataire [Rapport du locataire](https://www.singlekey.com/fr-ca/rapport-du-locataire/) Date: May 21, 2024 Author: SingleKey Content: Filtrer les locataires plus intelligent et plus rapide Choisissez votre locataire idéal grâce au rapport de sélection des locataires préférés au Canada. Obtenez des informations détaillées en quelques minutes et louez en toute confiance. Commencer le dépistage Voir un exemple de rapport Alimenté par Approuvé par plus de 135K propriétaires du secteur Seul SingleKey vous aide à filtrer les locataires en toute confiance Découvrez la principale plateforme de sélection des locataires au Canada. Rapport complet Ne manquez aucun signal d’alarme potentiel. SingleKey vous fournit toutes les informations clés. Facile à comprendre Des rapports clairs et exploitables, visuels, résumés et faciles à lire. Commande rapide et facile Commandez en seulement 3 étapes simples et recevez votre rapport en seulement 5 minutes. Commencer le dépistage fonctionnalités dU rapport de locataire Tout ce dont vous avez besoin pour prendre des décisions de location éclairées Un portrait complet de votre locataire  Choisissez entre une vérification de solvabilité complète d'Equifax®, de TransUnion® ou des deux agences d'évaluation du crédit. Vous aurez accès aux principaux antécédents de crédit, d'emploi et de location pour évaluer la situation financière et la fiabilité de votre demandeur de location en tant que locataire. En savoir plus Voir exemple Demande de location en ligne facile Invitez votre locataire à remplir une demande de location en ligne et à collecter rapidement ses informations personnelles, ses informations d'emploi, ses preuves de revenus, ses références et son consentement à la vérification de crédit. Aperçu de la demande de location Voir exemple Historique des expulsions et dossiers publics Protégez-vous d’une longue expulsion en obtenant les dossiers d’expulsion de votre demandeur provenant d’Openroom, SOQUIJ et CanLII. De plus, découvrez s’ils ont déjà des antécédents de fraude ou des antécédents criminels. En savoir plus Voir example Informations sur les réseaux sociaux Chaque rapport de locataire comprend une analyse des profils de réseaux sociaux accessibles au public, vous permettant de comparer les résultats avec les détails fournis par le locataire et de vérifier des aspects importants tels que les antécédents professionnels de LinkedIn. En savoir plus Voir example Analyse des documents de revenus Les fichiers PDF fournis sur la demande de location sont analysés pour détecter tout signe de falsification. Les détails clés sont extraits et automatiquement vérifiés par rapport aux informations fournies sur la demande de location. En savoir plus Voir example Vérification d'identité intelligente Assurez-vous que la vérification de crédit est effectuée pour la bonne personne. Notre outil basé sur l'IA confirme l'identité d'un candidat en croisant un contrôle de vivacité (selfie) et sa pièce d'identité téléchargée. En savoir plus Voir example Plus de 900 cinq critiques étoiles comment ça marche Commencez le dépistage en quelques minutes Obtenez un rapport de sélection des locataires et découvrez des informations essentielles sur les locataires en 3 étapes faciles. Sélectionnez le type de rapport Choisissez entre un rapport de crédit Equifax®, TransUnion®, double crédit ou une vérification de crédit internationale. Inviter le locataire à postuler Un courriel automatisé sera envoyé au locataire pour compléter une demande de location en ligne. Choisissez qui paie Payez à l'avance le rapport du locataire ou invitez votre locataire à payer. Cartes de crédit et de débit acceptées. Commencer le dépistage Vous avez des questions? Besoin d'aide pour commander un rapport? Regardez ce guide étape par étape sur la façon de commander un rapport de dépistage des locataires en moins d'une minute! Vous êtes en bonne compagnie 147K+ Propriétaires 9K+ Agents immobiliers 1,000+ Gestionnaires immobiliers 523K+ Locataires sélectionnés démo du produit Voir le rapport de sélection des locataires en action Résumé Demande de location Vérification de crédit Recherche de documents publics Revenu et emploi Vérification des références Contrôle de fraude documentaire Vérification de l’identité du locataire Vidéo expliquant comment lire le rapport Comment lire le rapport prix Commencez avec un rapport simple ou double Personnalisez votre Rapport du locataire sans frais d'inscription ni d'abonnement - juste un simple forfait. Rapport du Bureau Unique OU 29,99 $  / rapport Commandez maintenant Ce qui est inclus : Vérification de crédit Equifax® ou TransUnion® Demande de location en ligne Historique des expulsions et recherche dans les archives publiques Vérification des revenus et de l'emploi Vérification des pièces d'identité et des revenus Voir un exemple de rapport Rapport du double bureau ET 44,99 $  / rapport Commandez maintenant Ce qui est inclus : Tout du rapport du bureau unique Exécutez les chèques de crédit Equifax® et TransUnion® Obtenez l'image complète et ne manquez aucun drapeau rouge potentiel Économisez 25 % sur le deuxième rapport du bureau Voir un exemple de rapport Pourquoi prendre les deux ? Intéressé à sélectionner un locataire international ? Nous proposons désormais des vérifications de crédit internationales pour les nouveaux candidats canadiens avec Nova Crédit. Commencer le dépistage En savoir plus Une suite complète pour vous aider à louer sans risque Pré-sélectionner les prospects Présélectionnez les prospects intéressés en posant des questions clés avant de procéder aux visites. Essayez En savoir plus Appels pour vérification des références Embauchez nos agents expérimentés pour appeler le propriétaire et les références d'emploi fournies par le locataire sur la demande de location. En savoir plus Rédiger et signer les baux Une fois que vous avez trouvé votre locataire idéal, invitez-le à signer un bail avec eLease. Alimenté par Essayez En savoir plus Fonctionnalités supplémentaires Plus qu'une simple vérification de crédit Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Animaux et véhicules Renseignez-vous si le demandeur possède des animaux de compagnie ou s'il aura besoin de places de stationnement. Ratio loyer/revenu Évaluez rapidement l’abordabilité des locataires en examinant leur ratio loyer/revenu du ménage. L'historique des paiements de la dette Accédez à l'historique des paiements sur 48 mois pour examiner les habitudes de paiement d'un locataire. Historique des expulsions Découvrez si un locataire a déjà été expulsé ou s'il a un casier judiciaire. Vérification automatisée des références Gagnez du temps grâce aux courriels de vérification des références envoyés aux anciens propriétaires. Vérification des documents de revenus Nous analysons les fiches de paie que les locataires téléchargent pour détecter tout signe de falsification afin d'éviter la fraude. Vérification d'identité Déterminez si les mensualités de la dette du locataire sont trop élevées pour payer le loyer. Fonctionnalités anti-fraude Scannez le code QR sur le rapport afin d'obtenir les données de crédit directement à partir de la source. Commencer le dépistage Vous avez des questions ? Parlez avec une vraie personne Notre équipe de réussite client, qui jouit d'une excellente réputation, est là pour vous aider. Basés à Toronto, nos sympathiques représentants se consacrent à fournir une assistance personnalisée. Les heures d'ouverture de l'assistance en direct sont de 8h00 à 19h00 (heure de l'Est) en semaine et de 10h00 à 14h00 (heure de l'Est) le samedi. Entrer en contact Découvrez pourquoi nous sommes classés premiers parmi les propriétaires Un locataire a résilié son bail un mois plus tôt et SingleKey est intervenu pour couvrir la perte de loyer pour ce mois (service de garantie de loyer). Le processus était simple et le paiement a été rapide. C'est rassurant de savoir que j'ai ce genre de soutien en tant que propriétaire. Je le recommande vivement ! Devin J. septembre 2024 Excellent service pour les propriétaires - en particulier la sélection des locataires et les éléments d'éducation/connaissance. Le service client est très réactif et serviable. Je suis client payant de SingleKey depuis 2 ans et je continuerai à utiliser cette plateforme. Daniel B. août 2024 L'agent Rahi a passé près d'une heure avec moi, un senior, pendant que je remplissais les formulaires en ligne. Il était très sympathique, compétent et patient alors qu'il m'accompagnait étape par étape tout au long du processus. Veuillez reconnaître les efforts de Rahi comme étant des compétences extraordinaires et excellentes en matière de service à la clientèle et un gentleman général. Merci Titanic! Danielle B. octobre 2024 très facile à utiliser, je suis un agent Realtor® et je l'ai utilisé pour contrôler les locataires. Le rapport est très détaillé et m'aide à rester conforme à Fintrac. Keith J. octobre 2024 SingleKey est un excellent outil pour les propriétaires. Surtout avec tous les documents frauduleux que nous recevons ces jours-ci. Le déploiement des vérifications de crédit internationales est un ajout étonnant à un outil déjà formidable. Jonathan C. juin 2024 J'utilise SingleKey depuis plus d'un an maintenant et c'est transparent. Et les quelques fois où j’ai eu besoin d’aide, ils ont répondu rapidement et ont pu résoudre mon problème rapidement. Merci SingleKey pour toute votre aide ! Jacob H. mai 2024 Voir tous les avis Questions fréquemment posées Au cas où vous vous poseriez la question... Trouvez les réponses à nos questions les plus fréquentes posées ou contactez-nous pour en savoir plus. Où êtes-vous situé et quelle est la zone de service ? Nous avons des bureaux à Toronto, en Ontario et à Vancouver, en Colombie-Britannique. Nous servons tous les États-Unis et le Canada, y compris le Québec.Nous fournissons actuellement nos rapports sur les locataires et notre programme de garantie des loyers pour les États-Unis. L’outil de recouvrement des loyers n’est actuellement pas disponible. Quel est le coût du Rapport du Locataire? La tarification est par vérification de crédit et numérisation de document public, et il n’y a aucun abonnement mensuel ni frais de service. De quelles informations ai-je besoin pour commander un rapport ? Pour commander un rapport de solvabilité locataire, vous avez 2 options : Option 1 : INVITER LE LOCATAIREEn utilisant cette méthode, le locataire donne automatiquement son consentement pour effectuer une vérification de crédit et un rapport d’analyse de documents publics, ce qui vous fait gagner du temps et simplifie le processus. Option 2 : ENTRER LES INFORMATIONS DU LOCATAIRESi vous disposez des informations du locataire et de son consentement, vous pouvez saisir les informations du locataire et obtenir les résultats dans les 5 minutes. Pour exécuter le rapport, vous aurez besoin du nom légal, de l’adresse et de la date de naissance du locataire. Cela affectera mon score de crédit? Depuis novembre 2024, les deux agences d’évaluation du crédit, TransUnion et Equifax, ont classé les vérifications de crédit de location comme des vérifications logicielles. Cela signifie que notre rapport de sélection des locataires n’apparaîtra pas comme une demande de renseignements dans le dossier de crédit d’un locataire. Cela n’affectera pas non plus le score de crédit d’un locataire, même s’il est examiné plusieurs fois sur une courte période. Ceci s’appliquera rétroactivement à tout chèque de loyer effectué au cours des deux dernières années.

En tant que vérification logicielle, la demande de crédit n’apparaîtra plus pour les prêteurs sur le rapport de crédit. Cependant, un demandeur de location verra la demande sur son portail MyEquifax. Qu'est-ce qui est inclus dans l'analyse des documents publics ? L’analyse des documents publics est une recherche de documents publics en temps réel dans plus de 200 000 bases de données à la recherche de casiers judiciaires, de décisions de justice, d’expulsions antérieures, de presse négative, de profils de réseaux sociaux, de biographies publiques, d’emplois antérieurs et bien plus encore.Consultez notre guide complet sur la façon de lire le rapport des locataires SingleKey ici. Mes données sont-elles sécurisées ? La protection de vos informations est notre priorité. Toutes les données des locataires et des propriétaires sont stockées et cryptées en toute sécurité. Pour plus de détails, consultez notre politique de confidentialité. Comment créer un compte ? Vous pouvez utiliser ce lien pour créer un compte.Après avoir saisi vos informations, vous serez invité à suivre notre processus de vérification. Quand votre compte a été vérifié, vous pouvez produire des rapports. Puis-je commander un rapport pour moi-même ? Absolument! Cliquez simplement sur Commander maintenant, sélectionnez l’option « Entrer les informations sur le locataire », puis saisissez vos informations. Notez que vous devrez saisir votre nom et votre adresse e-mail deux fois dans les sections « Vos informations » et « Informations sur le locataire ». En savoir plus sur la base de connaissances En savoir plus Rapport du locataire Sélectionnez les locataires, plus rapidement et plus intelligemment Choisissez le bon locataire à chaque fois grâce à l'outil de sélection des locataires et de recherche de dossiers publics le plus complet qui soit. Commandez maintenant et obtenez des résultats en quelques minutes. Inscrivez-vous et commandez en 3 étapes Obtenez des résultats en moins de 5 minutes ! Rapports infalsifiables, envoyés directement à vous Solutions d'entreprise disponibles Propulsé par Commander Rapport sur les locataires par SingleKey Un rapport, c'est tout ce dont vous avez besoin Obtenez toutes les informations dont vous avez besoin pour choisir le bon locataire. Chaque rapport sur les locataires comprend des vérifications de solvabilité, une analyse des documents publics, une analyse des médias sociaux et bien plus encore. Rapports de crédit Equifax® et TransUnion® Choisissez entre un rapport de crédit complet fourni par Equifax® ou TransUnion®. Vous obtiendrez un score de crédit et des données complètes sur les antécédents de crédit - l'un des meilleurs indicateurs de la situation financière et de l'historique de paiement d'un locataire. Demande de location en ligne En plus des informations sur l'emploi fournies par Equifax, les locataires sont invités à fournir des références d'emploi et à télécharger une preuve de revenu (par exemple, des talons de chèque de paie récents) lorsqu'ils remplissent notre formulaire de demande de location en ligne. Vérification des revenus et de l'emploi Nous vous aidons à recueillir des références d'emploi et des preuves de revenus au cours du processus de demande de location en ligne afin que vous puissiez vérifier le statut d'emploi et les revenus du locataire. Recherche dans les dossiers publics Obtenez une analyse approfondie des comptes de médias sociaux publics de votre locataire, de ses emplois antérieurs et de ses adresses, de ses casiers judiciaires et de ses décisions de justice, ainsi que de ses biographies publiques et de presse négatives, à partir de plus de 200 000 bases de données provenant de plus de 240 pays. SingleKey n'accède pas et ne collecte pas d'informations publiées sur des profils de médias sociaux privés. Vérification de l'identité Nous confirmons l'identité de votre candidat à la location pour garantir qu'il corresponde aux détails de sa demande. Tarification Tout ce dont vous avez besoin sans vous ruiner Obtenez toutes les informations dont vous avez besoin pour choisir le bon locataire. Chaque rapport sur les locataires comprend une vérification de la solvabilité, une recherche dans les dossiers publics, une analyse des médias sociaux et bien plus encore. Rapport du locataire 29.99$ / demandeur???????? ???????? Commencer la sélection Voir l'exemple de rapport Choisissez entre une vérification de crédit Equifax® ou TransUnion®. Recherche d'archives publiques Vérification du revenu et de l’emploi Demande de location en ligne Disponible 24 heures sur 24, 7 jours sur 7 Vérification de l'identité Données de crédit fournies par Meilleur rapport qualité-prix Rapport sur les doubles locataires 44.99$ / demandeur???????? Commencer la sélection Les vérifications de solvabilité d'Equifax® et de TransUnion® sont incluses. Recherche d'archives publiques Vérification du revenu et de l’emploi Demande de location en ligne Disponible 24 heures sur 24, 7 jours sur 7 Vérification de l'identité Données de crédit fournies par Rapport sur les locataires internationaux Sélectionnez des locataires dans le monde entier avec Nova Credit. 59.99$ / demandeur???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? ???????? Commencer la sélection Voir l'exemple de rapport En savoir plus Nova Credit® vérification de la solvabilité internationale Recherche d'archives publiques Vérification du revenu et de l’emploi Demande de location en ligne Disponible 24 heures sur 24, 7 jours sur 7 Vérification de l'identité Données de crédit fournies par Caractéristiques supplémentaires Raccourcis intelligents. Une sélection plus rapide Gagnez du temps et de l'énergie grâce aux fonctions supplémentaires intégrées dans chaque rapport sur les locataires. Présélectionner les locataires internationaux Approuvez plus de demandes de location en toute confiance en accédant en toute sécurité aux antécédents de crédit à l’étranger des candidats internationaux. Rapport sur le double crédit Obtenez le profil de crédit complet de votre candidat à la location grâce aux données approfondies sur les antécédents de crédit d’Equifax et de TransUnion. Références vérifiées SingleKey envoie automatiquement des demandes de références aux anciens propriétaires des locataires. Les références complétées vous sont alors envoyées directement et ne sont pas accessibles aux locataires. Formulaire de présélection Filtrez rapidement les candidatures grâce à notre formulaire de présélection gratuit. Le formulaire personnalisable comprend des questions sur les finances, les habitudes personnelles et les conditions de location souhaitées.Voir un exemple Commander un rapport Clé unique pour les locataires Tenants get perks too! Besoin d'aide pour être sélectionné ? Démarquez-vous en tant que candidat grâce à nos solutions faciles pour les locataires. Découvrez la demande de location universelle Commander votre rapport Commandez maintenant. Obtenez des résultats en quelques minutes. Obtenir votre rapport sur les locataires est sûr, facile et ne prend que quelques minutes. Complétez les informations de base Donnez quelques informations sur votre locataire ou invitez-le à remplir ses coordonnées. Payer en ligne Payez votre rapport de locataire avec une carte de crédit ou demandez à votre locataire de payer lui-même. Obtenez votre rapport Inscrivez-vous et vérifiez votre identité en ligne. Le rapport sera disponible pour un accès sécurisé dans votre portail SingleKey. Commander un rapport Regardez un tutoriel Rapport sur les locataires internationaux Intéressé par le sélection un locataire international ? Nous proposons désormais des rapports internationaux sur les locataires avec Nova Credit. En savoir plus Comme on le voit dans Les critiques sont arrivées « SingleKey est un MUST pour tous les propriétaires pour tous les propriétaires pour leur processus de sélection. “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer Voir tous les commentaires Rapport du locataire FAQ Au cas où vous poseriez la question… Trouvez les réponses à nos questions les plus fréquentes ou contactez-nous pour en savoir plus. Voir toutes les FAQ Où êtes-vous situé et quelle est la zone de service ? Nous avons des bureaux à Toronto (Ontario) et à Vancouver (Colombie-Britannique). Nous desservons l’ensemble des États-Unis et du Canada, y compris le Québec.Aux États-Unis, nous fournissons actuellement nos rapports sur les locataires et notre programme de garantie des loyers. Le recouvrement des loyers n’est actuellement pas disponible. Comment fonctionne la tarification ? Nous ne facturons qu’une seule fois par contrôle de locataire. Pas d’abonnement mensuel ni de frais de service. Vous pouvez payer vous-même ou demander au locataire de payer. De quelles informations ai-je besoin pour commander un rapport ? Pour commander un rapport de solvabilité d’un locataire, vous avez deux possibilités :Option 1 : INVITER LE LOCATAIREEnvoyez par courriel le formulaire de candidature à un locataire afin de recueillir ses informations. Le locataire remplit ensuite les informations le concernant et donne son accord pour que le rapport de solvabilité soit établi. Nous exécutons ensuite le rapport et vous informons lorsqu’il est prêt.Option 2 : Saisir les informations relatives au locataireSi vous disposez des informations du locataire et de son consentement, vous pouvez les saisir et obtenir les résultats en moins de 5 minutes. Pour exécuter le rapport, vous aurez besoin du nom légal, de l’adresse et de la date de naissance du locataire. Cela affectera-t-il la cote de crédit du locataire ? L’enquête de crédit apparaîtra dans le dossier de crédit du demandeur, mais elle n’aura pas d’impact significatif sur son score de crédit, puisqu’il ne s’agit pas d’une demande de crédit. Que comprend la recherche de documents publics ? L’analyse des documents publics est une recherche en temps réel de documents publics dans plus de 200 000 bases de données, à la recherche de casiers judiciaires, de décisions de justice, d’expulsions antérieures, de presse négative, de profils de médias sociaux, de biographies publiques, d’emplois antérieurs et bien plus encore. Mes données sont-elles sécurisées ? La protection de vos informations est notre priorité. Toutes les données relatives aux locataires et aux propriétaires sont conservées en toute sécurité et cryptées. Pour plus de détails, consultez notre politique de confidentialité. Comment créer un compte ? Vous pouvez utiliser ce lien pour créer un compte. Après avoir saisi vos informations, vous serez invité à suivre notre processus de vérification. Une fois votre compte vérifié, vous pouvez exécuter des rapports. Puis-je commander un rapport pour moi-même ? Absolument ! Il vous suffit de cliquer sur Commander maintenant, de sélectionner l’option “Entrer les informations sur le locataire”, puis de saisir vos informations. Notez que vous devrez saisir deux fois votre nom et votre adresse électronique dans les sections “Vos informations” et “Informations sur le locataire”. Trouvez le locataire idéal pour ta place. Choisissez intelligemment et louez en toute sécurité avec le premier rapport sur les locataires au Canada. Commencer la sélection --- ### Recouvrement des loyers [Recouvrement des loyers](https://www.singlekey.com/fr-ca/recouvrement-des-loyers/) Date: May 21, 2024 Author: SingleKey Content: Automatisez le loyer et soyez payé à temps Oubliez les chèques et les retards de paiement. Recouvrement des loyers envoie le loyer mensuel directement sur votre compte bancaire et incite davantage les locataires à payer à temps. Personnalisez votre échéancier de paiement Définir des rappels automatiques pour les locataires Encouragez les paiements à temps Commencer Collecte des loyers par SingleKey Adieu les retards de paiement! Bonjour, le premier outil de perception des loyers au Canada ! Obtenez des paiements de loyer mensuels déposés directement sur votre compte bancaire et aidez les locataires à accroître leur crédit simplement en payant à temps. Automatisez les paiements mensuels Obtenez des paiements traités en seulement 3 à 5 jours ouvrables. Nous enverrons également des rappels automatiques aux locataires et vous informerons lorsque les paiements seront effectués. Horaires flexibles Donnez à vos locataires plus de temps lorsqu'ils en ont besoin. Vous bénéficiez également d'un contrôle total grâce à des moyens pratiques de retarder, ignorer ou annuler les collectes automatisées. Soyez payé à temps En déclarant les paiements à l'agence d'évaluation du crédit, vous pouvez aider les locataires à établir leur historique de crédit et les inciter à payer leur loyer à temps. Dépôts rapides directement à la banque Laissez les chèques derrière vous. Connectez-vous avec vos locataires pour recevoir les paiements sur votre compte bancaire chaque mois. Inscrivez-vous maintenant comment ça marche Automatisez le loyer, juste comme ça Mettez en place des paiements automatiques avec vos locataires en quelques clics. Entrez les informations de location Partagez quelques informations de base sur votre bail, notamment l'adresse de l'unité, le montant du loyer et le calendrier de paiement. Invitez votre locataire Partagez un lien avec votre locataire pour connecter son compte bancaire. Les paiements de loyer seront automatiquement prélevés le jour que vous choisirez. Connectez votre banque Vérifiez votre identité et connectez votre compte bancaire pour mettre en place des dépôts automatiques. Commencer Regarder le tutoriel Commencer Facile pour vous. 
Facile pour les locataires. Inscrivez-vous et configurez-vous en seulement 3 étapes. Regardez notre démo de 3 minutes. S'inscrire Lire le guide étape par étape Avantages clés Supprimez la corvée du paiement du loyer Rent Collection rend les paiements mensuels du loyer plus faciles, plus sûrs et plus rapides pour tout le monde. je suis propriétaire Ne courez plus jamais après le loyer Plus de chèques. Recevez des cautions de loyer automatiques envoyées sur votre compte bancaire. Déclenchez des rappels mensuels pour les locataires Améliorer les relations avec les locataires en les aidant à développer leur crédit Encouragez les paiements à temps et la responsabilité avec des rapports au bureau de crédit je suis locataire Payer un loyer. Boostez votre crédit. Obtenez des paiements à temps automatiquement signalés au bureau de crédit Construisez votre pointage de crédit avec votre plus grosse dépense mensuelle Fini les chèques grâce à la collecte automatisée des loyers Parfait pour les étudiants et les nouveaux arrivants qui cherchent à bâtir leur historique de crédit Collecte des loyers SingleKey L'automatisation rencontre la flexibilité Gérez votre perception des loyers Retardez, ignorez ou annulez les collectes automatisées de votre compte à tout moment. Obtenez des mises à jour de paiement en temps réel Recevez des notifications de paiements réussis ou échoués, de paiements en retard, etc. Rapport au bureau de crédit Encouragez vos locataires à payer à temps en signalant les impayés au bureau de crédit. Créer un compte Cryptage des données Dédié à la sécurité Rien n’est plus important pour nous que de protéger vos informations. SingleKey travaille avec des partenaires de pointe pour mettre en œuvre les derniers protocoles de sécurité. Nous ne stockons jamais d'informations personnelles ni d'identifiants de connexion bancaire Dernier cryptage des données activé (TLS 1.2) Conforme aux derniers protocoles de sécurité Web En partenariat avec le principal fournisseur de paiement au Canada PRIX Minuscules frais mensuels. Payez-le au fur et à mesure. Ayez l'esprit tranquille pour moins d'une tasse de café. Nos frais mensuels couvrent les frais de transaction nécessaires et assurent un service client exceptionnel pour vous et votre locataire. Recouvrement des loyers Gratuit / 3 premiers locataires Commencer Vous avez plus de 10 locataires ? Obtenez un devis Vous obtenez : Traitement automatisé des paiements Virements directs de banque à banque Ignorer ou retarder les paiements Rappels de paiement mensuels Planifier les futurs paiements Déclarer les paiements au bureau de crédit Assistance client téléphonique Découvrez pourquoi nous sommes classés premiers parmi les propriétaires Un locataire a résilié son bail un mois plus tôt et SingleKey est intervenu pour couvrir la perte de loyer pour ce mois (service de garantie de loyer). Le processus était simple et le paiement a été rapide. C'est rassurant de savoir que j'ai ce genre de soutien en tant que propriétaire. Je le recommande vivement ! Devin J. septembre 2024 Excellent service pour les propriétaires - en particulier la sélection des locataires et les éléments d'éducation/connaissance. Le service client est très réactif et serviable. Je suis client payant de SingleKey depuis 2 ans et je continuerai à utiliser cette plateforme. Daniel B. août 2024 L'agent Rahi a passé près d'une heure avec moi, un senior, pendant que je remplissais les formulaires en ligne. Il était très sympathique, compétent et patient alors qu'il m'accompagnait étape par étape tout au long du processus. Veuillez reconnaître les efforts de Rahi comme étant des compétences extraordinaires et excellentes en matière de service à la clientèle et un gentleman général. Merci Titanic! Danielle B. octobre 2024 très facile à utiliser, je suis un agent Realtor® et je l'ai utilisé pour contrôler les locataires. Le rapport est très détaillé et m'aide à rester conforme à Fintrac. Keith J. octobre 2024 SingleKey est un excellent outil pour les propriétaires. Surtout avec tous les documents frauduleux que nous recevons ces jours-ci. Le déploiement des vérifications de crédit internationales est un ajout étonnant à un outil déjà formidable. Jonathan C. juin 2024 J'utilise SingleKey depuis plus d'un an maintenant et c'est transparent. Et les quelques fois où j’ai eu besoin d’aide, ils ont répondu rapidement et ont pu résoudre mon problème rapidement. Merci SingleKey pour toute votre aide ! Jacob H. mai 2024 Voir tous les avis Questions fréquemment posées Au cas où vous vous poseriez la question... Trouvez les réponses à nos questions les plus fréquentes posées ou contactez-nous pour en savoir plus. Quel est le coût de ce service ? Le service de perception des loyers est gratuit jusqu’à 3 transactions simultanées par mois. Si vous avez 3 baux, vous paierez généralement 0 $ par mois.Pour un maximum de 10 baux, nous facturerons 5 $ par transaction (10-3 = 7 * 5 $ = 35 $).
Pour plus de 10 locations, nous facturons 3 $ par transaction.Pour plus d’informations sur la collecte des loyers, veuillez nous envoyer un e-mail à info@singlekey.com ou nous rendre visite sur notre chatbot, situé en bas à droite de notre site Web et nous serons plus qu’heureux de vous aider. Comment gérer mes paiements ? Une fois votre collecte des loyers terminée sur la plateforme SingleKey, vous aurez accès à votre tableau de bord de collecte des loyers, qui :Fournir le statut du paiementActiver le report ou le saut de paiementsPermettre l’annulation de la perception des loyers en fin de bailPour plus d’informations, consultez notre guide de configuration. Puis-je apporter des modifications à mes collections ? Oui, vous pourrez effectuer ces modifications à tout moment :Retarder la perception du loyer du mois prochainIgnorer la collecte du loyer du mois prochainAnnuler la perception mensuelle de votre loyer Que se passe-t-il lorsque les locataires manquent un paiement ? Nous vous informerons, ainsi que le locataire, d’un paiement manqué. Nous suggérons aux propriétaires de contacter les locataires qui n’ont pas payé leur loyer pour s’assurer qu’ils seront payés. Si le locataire ne paie pas de loyer, nous suggérons au propriétaire de suivre les procédures appropriées pour négocier et/ou expulser conformément aux directives légales appropriées dans la juridiction du logement.Remarque : si vous êtes inscrit à la garantie de loyer, SingleKey aidera à arbitrer et à expulser les locataires délinquants en travaillant avec nos partenaires parajuridiques. Combien de temps faut-il pour que les paiements soient traités ? En règle générale, il faut compter 4 à 5 jours ouvrables pour que le transfert de loyer soit effectué. Notez que si la date de paiement tombe un week-end ou un jour férié, le processus de perception du loyer débutera le jour ouvrable suivant. Prévenez-vous mon(mes) locataire(s) lorsque le loyer est dû ? Oui. Nous enverrons un courriel de notification à votre (vos) locataire(s) 2 jours avant la date d’échéance du loyer afin qu’ils puissent s’assurer qu’ils disposent de fonds suffisants sur leur compte.Lors de la mise en place de votre collecte de loyers, vous inviterez par email votre ou vos locataires à accepter les conditions de collecte des loyers et à connecter leur compte bancaire. Quel impact cela aura-t-il sur la cote de crédit de mon locataire ? Nous voulons aider les locataires à améliorer leur cote de crédit au fil du temps. Pour ce faire, tous les paiements gérés par notre plateforme seront signalés aux agences d’évaluation du crédit, y compris les paiements à temps, en retard et les non-paiements. Les paiements effectués à temps contribueront à améliorer le score, tandis que les paiements manqués le réduiront. Dans quelle mesure mes informations bancaires sont-elles sécurisées ? Notez que SingleKey ne collecte ni ne stocke PAS vos identifiants de connexion bancaire. Nous stockons uniquement votre numéro de compte bancaire afin de déterminer où déposer vos paiements de loyer. Nous sommes en partenariat avec un important fournisseur de paiement canadien pour faciliter la perception du paiement du loyer. La sécurité de vos informations est très importante pour nous et nos partenaires. Nous utilisons les derniers protocoles de cryptage et de sécurité des données pour protéger vos informations. En savoir plus sur la base de connaissances En savoir plus Recouvrement des loyers Automatisez le loyer et soyez payé à temps Oubliez les chèques et les retards de paiement. Le recouvrement des loyers envoie le loyer mensuel directement sur votre compte bancaire et incite les locataires à payer à temps. Personnalisez votre calendrier de paiement Fixer des rappels automatiques pour les locataires Encouragez les paiements à temps Commencez Recouvrements des loyers par SingleKey Adieu les retards de paiement ! Bonjour, le premier outil de collecte de loyers au Canada ! Les loyers mensuels sont déposés directement sur votre compte bancaire et vous aidez les locataires à renforcer leur crédit en payant à temps. Automatisez les paiements mensuels Les paiements sont traités dans un délai de 3 à 5 jours ouvrables. Nous envoyons également des rappels automatiques aux locataires et vous informons lorsque les paiements sont effectués. Soyez payé à temps En signalant les paiements à l'agence d'évaluation du crédit, vous pouvez aider les locataires à établir leur historique de crédit et les inciter à payer leur loyer à temps. Horaires flexibles Donnez à vos locataires du temps supplémentaire quand ils en ont besoin. Vous disposez également d'un contrôle total grâce à des moyens pratiques de retarder, de passer ou d'annuler les collectes automatisées. Dépôts directs rapides auprès de la banque Laissez tomber les chèques et les virements électroniques. Connectez-vous avec vos locataires pour que les paiements soient envoyés sur votre compte bancaire chaque mois. S'inscrire maintenant Comment ça marche Automatisez les loyers, comme ça Mettez en place des paiements automatiques avec vos locataires en quelques clics. Entrez des informations sur le bail ​​Partagez quelques informations de base sur votre bail, notamment l'adresse du logement, le montant du loyer et la date des paiements. Invitez votre locataire Partagez un lien avec votre locataire pour connecter son compte bancaire. Les paiements de loyer seront automatiquement prélevés à la date que vous aurez choisi. Connectez votre banque Vérifiez votre identité et connectez votre compte bancaire pour mettre en place des dépôts automatiques. Commencez https://www.singlekey.com/wp-content/uploads/2023/01/Rent-Collection-Tutorial.mp4 Pour commencer Facile pour vous. Facile pour les locataires. Inscrivez-vous et installez-vous en 3 étapes seulement. Regardez notre Démonstration en 3 minutes. S'inscrire maintenant Lisez le guide étape par étape Principaux avantages Éliminez la corvée du paiement des loyers Recouvrement des Loyers rend le paiement des loyers mensuels plus facile, plus sûr et plus rapide pour tout le monde. Je suis propriétaire Je suis locataire Je suis propriétaire Ne plus jamais courir après les loyers Finis les chèques et les virements électroniques. Obtenez des dépôts de loyer automatiques envoyés à votre banque Déclenchez des rappels mensuels pour les locataires Améliorez les relations avec les locataires en les aidant à développer leur crédit Encouragez les paiements à temps et la responsabilité avec des rapports au bureau de crédit. Je suis locataire Payez votre loyer. Améliorez votre crédit. Les paiements effectués à temps sont automatiquement signalés à l’agence d’évaluation du crédit Améliorez votre cote de crédit grâce à votre principale dépense mensuelle Finis les chèques et les virements électroniques grâce à le Recouvrement des Loyers Parfait pour les étudiants et les nouveaux arrivants qui cherchent à établir leur historique de crédit Utilisation de la recouvrement des loyers L'automatisation au service de la flexibilité Adieu chèques et virements électroniques ! Les propriétaires aiment utiliser les solutions de sélection des locataires de SingleKey et préfèrent toujours nos rapports sur les locataires à d’autres rapports gratuits. Gérez le recouvrement de vos loyers Retardez, sautez ou annulez le recouvrement automatique de votre compte à tout moment. Obtenir des informations sur les paiements en temps réel Recevez des notifications sur les paiements réussis ou échoués, les retards de paiement, etc. Déclaration à l'agence d'évaluation du crédit Incitez vos locataires à respecter les délais de paiement en signalant les impayés à l’agence d’évaluation du crédit. Créer un compte Chiffrement des données et protection de la vie privée Dédié à la sécurité Rien n'est plus important pour nous que la sécurité de vos informations. SingleKey travaille avec des partenaires de pointe pour mettre en œuvre les protocoles de sécurité les plus récents. Nous ne conservons jamais d'informations personnelles ou d'identifiants bancaires. Cryptage des données le plus récent activé (TLS 1.2) Conforme aux protocoles de sécurité web les plus récents Partenariat avec le principal fournisseur de services de paiement du Canada Tarification Frais mensuels minimes. Payez au fur et à mesure. Obtenez la tranquillité d'esprit pour moins qu'une tasse de café. Nos frais mensuels couvrent les coûts de transaction nécessaires et garantissent un service client exceptionnel pour vous et votre locataire. GRATUIT / 3 premiers locataires Traitement automatisé des paiements Virements directs de banque à banque Sauter ou retarder des paiements Rappels de paiements mensuels Calendrier des paiements futurs Signaler les paiements à l'agence d'évaluation du crédit Traitement automatisé des paiements Virements directs de banque à banque Sauter ou retarder des paiements Rappels de paiements mensuels Calendrier des paiements futurs Signaler les paiements à l'agence d'évaluation du crédit Commencez Vous avez plus de 10 locataires ? Obtenir un devis Les critiques sont arrivées "Je n'ai jamais à m'inquiéter du non-paiement du loyer. “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field.” a-a SingleKey Customer ““As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer Voir tous les commentaires FAQ sur le recouvrement des loyers Au cas où vous vous poseriez la question... Trouvez les réponses à nos questions les plus fréquentes ou contactez-nous pour en savoir plus. Quel est le coût de ce service ? Le service de recouvrement des loyers est gratuit pour un maximum de 3 transactions simultanées par mois. Si vous avez trois baux, vous payez généralement 0$ par mois.Pour un maximum de 10 baux, nous facturons 5$ par transaction (10-3 = 7 x 5$ = 35$).Pour plus de 10 baux, nous facturons 3$ par transaction.Pour plus d’informations sur la recouvrement des loyers, veuillez nous envoyer un e-mail à info@singlekey.comou nous rendre visite sur notre chatbot, qui se trouve en bas à droite de notre site web, et nous serons plus qu’heureux de vous aider. Comment gérer mes paiements ? Une fois que vous aurez complété votre recouvrement de loyer sur la plateforme SingleKey, vous aurez accès à votre tableau de bord de recouvrement de loyer, qui :– Fournir l’état des paiements– Permettre de retarder ou d’omettre des paiements– Permettre l’annulation de la perception du loyer à la fin du bail. Puis-je apporter des modifications à mes collections ? Oui, vous pourrez effectuer ces changements à tout moment :– Retarder le recouvrement du loyer du mois suivant– Sauter le recouvrement du loyer du mois prochain– Annuler le recouvrement du loyer mensuel Que se passe-t-il lorsqu'un locataire omet d'effectuer un paiement? Nous vous informerons, ainsi que le locataire, de l’absence de paiement. Nous suggérons aux propriétaires de contacter les locataires qui n’ont pas payé leur loyer pour s’assurer qu’ils sont payés. Si le locataire ne paie pas son loyer, nous suggérons au propriétaire de suivre les procédures appropriées de médiation et/ou d’expulsion conformément aux directives légales en vigueur dans la juridiction du logement.Remarque : si vous avez souscrit à la Garantie de Loyer, SingleKey aidera à la médiation et à l’expulsion des locataires en retard de paiement, en collaboration avec nos partenaires parajuridiques. Combien de temps faut-il pour que les paiements soient traités ? En règle générale, il faut compter 4 à 5 jours ouvrables pour que le transfert de loyer soit effectué. Notez que si la date de paiement tombe un week-end ou un jour férié, la procédure de recouvrement du loyer commencera le jour ouvrable suivant. Prévenez-vous mon (mes) locataire(s) lorsqu'il(s) doit(vent) payer le loyer ? Oui. Nous enverrons un courriel à votre/vos locataire(s) deux jours avant la date d’échéance du loyer afin qu’il(s) puisse(nt) s’assurer qu’il(s) dispose(nt) de fonds suffisants sur son(leur) compte.Lors de la mise en place du recouvrement des loyers, vous inviterez vos locataires par e-mail à accepter les conditions du recouvrement des loyers et à connecter leur compte bancaire. Quel sera l'impact sur la cote de crédit de mon locataire ? Nous voulons aider les locataires à améliorer leur cote de crédit au fil du temps. Pour ce faire, tous les paiements gérés par notre plateforme seront signalés aux agences d’évaluation du crédit, qu’ils soient effectués à temps, en retard ou non. Les paiements effectués à temps contribueront à améliorer le score, tandis que les paiements manqués réduiront le score. Mes informations bancaires sont-elles en sécurité ? Notez que SingleKey ne collecte et ne conserve PAS vos identifiants bancaires. Nous ne conservons votre numéro de compte bancaire afin de déterminer où déposer vos paiements de loyer. Nous avons établi un partenariat avec un fournisseur de paiement canadien de premier plan afin de faciliter le recouvrements des loyers. La sécurité de vos informations est très importante pour nous et nos partenaires. Nous utilisons les protocoles de sécurité et de cryptage des données les plus récents pour assurer la sécurité de vos informations. Inscrivez-vous et invitez votre locataire dès aujourd'hui. Simplifiez le paiement de vos prochains loyers avec Recouvrement des Loyers. Commencez --- ### Garantie de loyer [Garantie de loyer](https://www.singlekey.com/fr-ca/garantie-de-loyer/) Date: May 17, 2024 Author: SingleKey Content: Protégez vos revenus locatifs La Garantie Loyer vous apporte un soutien financier et juridique en cas de défaut de paiement de loyer, de rupture de bail, de dommages matériels. Garantie des revenus locatifs : 12 mois de loyer remboursés Protection contre les dommages :  10 000 $ de dommages et intérêts Frais juridiques d'expulsion : 2 000 $ de frais juridiques Réserver un appel Obtenez un devis Over $50 million in Guaranteed Rent across Canada Les problèmes des locataires peuvent coûter cher Même les meilleurs locataires peuvent cesser de payer leur loyer pour de nombreuses raisons (perte d’emploi, problèmes de santé, ruptures). Vous ne pouvez pas prédire quand cela se produira, mais lorsque cela se produira, les coûts peuvent rapidement devenir incontrôlables. 16 000 $ Pertes moyennes des propriétaires liées aux expulsions de locataires 1 450 $ Coût moyen des frais juridiques, de dépôt de dossier et d'huissier pour les audiences de location 6-10 mois Délai pour expulser un locataire (varie selon la province) DONNER LA TRANQUILLITÉ D’ESPRIT À DES MILLIERS DE PROPRIÉTAIRES [elementor-template id="44942"] [elementor-template id="44910"] [elementor-template id="44909"] [elementor-template id="44908"] la garantie de loyer comprend Protégez-vous avec la Garantie Loyer Obtenez l'approbation et détendez-vous : nous vous proposons des sauvegardes financières complètes, une assistance juridique et une résolution d'expulsion. Garantie des revenus locatifs En cas de défaut de paiement, nous rembourserons jusqu’à 12 mois de loyer (jusqu’à 60 000 $). 12 mois de loyer garanti Protection contre la résiliation du bail Obtenez jusqu'à 30 jours de loyer payé si votre locataire quitte inopinément sans préavis. 30 jours de loyer garanti Protection contre les dommages matériels Nous rembourserons les dommages impayés ordonnés par le tribunal par les locataires malveillants jusqu'à 10 000 $. 10 000 $ garanti Assistance juridique et expulsion Si vous devez subir une expulsion, notre équipe parajuridique vous assistera, avec des frais juridiques remboursés jusqu'à 2 000 $.​ 2 000 $ garanti Commencer Preview sample contract Comment ça marche La garantie de loyer intervient lorsque les locataires cessent de payer leur loyer Une fois que les locataires cessent de payer, l’un de nos spécialistes dédiés à la garantie de loyer interviendra pour résoudre le problème et gérer la longue procédure juridique en votre nom. Nous contactons le locataire Nous contactons le locataire pour comprendre pourquoi il ne paie pas et, éventuellement, mettons en place un échéancier de paiement. Nous envoyons un avis d'expulsion Si le locataire ne répond pas ou ne veut pas payer, nous procédons à l'envoi d'un avis d'expulsion. Nous engageons un parajuriste pour déposer une demande d'expulsion Si nécessaire, nous engageons ensuite un parajuriste expérimenté pour déposer une demande d'expulsion et réserver une audience au tribunal. Nous engageons le shérif pour expulser le locataire Après avoir obtenu un jugement d'expulsion, nous engagerons le shérif pour expulser le locataire si nécessaire Inspecter la propriété pour déceler tout dommage Une fois la propriété vacante, inspectez les dommages et nous pouvons vous rembourser jusqu'à 10 000 $ en cas de dommages intentionnels. Évitez ces maux de tête. Garantissez votre loyer aujourd'hui. Réserver un appel Obtenez un devis qualification et exigences Obtenir l'approbation est facile Nos critères simples et raisonnables nous permettent d'approuver la plupart des locataires. Voici les critères de qualification et les documents requis pour demander la Garantie des Loyers. Critères de qualification Les locataires peuvent bénéficier de la Garantie Loyer s’ils possèdent : Un ratio loyer/revenu brut des ménages ne dépassant pas 50 % Minimum 1 personne occupée dans le ménage Aucune faillite ni expulsion sur un rapport de crédit au cours des 3 dernières années Documents requis Pour les nouveaux candidats locataires, nous avons besoin de : Rapport de solvabilité du locataire ou rapport de locataire SingleKey Preuve de revenus et pièce d’identité Contrats de location signés Pour les locataires existants à mi-location, nous exigeons également une preuve de paiement du loyer. Obtenez l'approbation aujourd'hui Postulez et commencez dès aujourd'hui Inscrivez-vous et soumettez votre demande pour obtenir l'approbation de la garantie de loyer. Partager les détails du locataire Saisissez quelques informations sur votre logement locatif et le locataire que vous souhaitez inscrire au programme de garantie de loyer. Téléchargez les documents requis Téléchargez le rapport de crédit de votre locataire et les documents de preuve de revenus afin que notre équipe puisse déterminer son éligibilité. Voir les critères d'éligibilité Soyez approuvé Après avoir soumis les documents requis, un spécialiste de la garantie des loyers vous fera savoir si le locataire est approuvé. Postulez maintenant Regarder le tutoriel Comment faire une demande Des remboursements simplifiés étape 1 Dites-nous ce qui s'est passé Faites-nous savoir pourquoi vous devez répondre à une demande : défaut de paiement du loyer, rupture de bail ou dommages-intérêts. étape 2 Remplissez un formulaire de notification par défaut Partagez quelques détails supplémentaires sur la situation. Cela ne prend que 5 minutes ! étape 3 Partagez une copie de votre bail Fournissez-nous une copie du contrat de location signé. Bénéficiez d'une garantie à un prix abordable Pay monthly Pay annually Save 10% Garantie de loyer 5.5% du loyer mensuel Réserver un appel Ce qui est inclus: Loyer garanti : 12 mois Protection contre les dommages matériels : 10 000 $ Frais juridiques et soutien parajuridique : 2 000 $ Rupture de bail : 
1 mois de loyer Recouvrement des loyers incluse (optionnel) 2 rapports de locataire gratuits (valeur de 60 $) Avantages supplémentaires inclus Des modules complémentaires pour une totale tranquillité d'esprit Sélection des locataires Les abonnements annuels à la garantie de loyer sont accompagnés de 2 rapports de locataires afin que vous puissiez sélectionner les locataires potentiels en toute confiance. Vérification des références Si nécessaire, notre équipe appellera les références de l’emploi et du propriétaire pour vérifier les antécédents, l’emploi et les revenus du locataire. Recouvrement automatisé des loyers Mettez en place une recouvrement automatisé des loyers mensuels et aidez vos locataires à accroître leur crédit en payant leur loyer à temps. Réserver un appel Comment la Garantie de Loyers a aidé les propriétaires Écoutez de vrais propriétaires et découvrez comment la garantie de loyer leur a apporté une tranquillité d'esprit Comment la garantie de loyer a donné à cet investisseur ontarien la confiance nécessaire pour accroître son portefeuille locatif Expulsion résolue : la garantie de loyer permet au propriétaire d'économiser 10 000 $ de perte financière La garantie de loyer a permis à ce propriétaire d'économiser plus de 20 000 $ en frais de défaut de paiement des locataires Pourquoi les propriétaires choisissent la Garantie des Loyers Un locataire a résilié son bail un mois plus tôt et SingleKey est intervenu pour couvrir la perte de loyer pour ce mois (service de garantie de loyer). Le processus était simple et le paiement a été rapide. C'est rassurant de savoir que j'ai ce genre de soutien en tant que propriétaire. Je le recommande vivement ! Devin J. septembre 2024 Nous avons eu la malheureuse opportunité d'utiliser le service, mais SingleKey a réussi et a couvert notre perte. Le processus de demande a été efficace et le paiement s’est fait sans trop d’obstacles. La garantie s’étend à la résiliation anticipée du bail, au non-paiement du loyer, aux frais parajuridiques et aux dommages aux logements. En ces temps (particulièrement en Ontario), il est agréable d’avoir un certain coussin sur lequel compter si les choses tournent mal avec un locataire. Evan N. décembre 2023 I had a tenant who stopped paying rent after losing their job, but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took to evict the tenant. SingleKey managed the entire legal process for me, covering all my legal and court fees. If it weren’t for their support, I would have faced a $30,000 loss in rent and legal costs. I highly recommend this program to any small landlord. William L. novembre 2024 Voir tous les avis Questions fréquemment posées Au cas où vous vous poseriez la question... Trouvez les réponses à nos questions fréquemment posées ou contactez-nous pour en savoir plus. Qu'est-ce qui est inclus dans le programme de garantie de loyer ? Le programme de garantie des loyers comprend :Revenus locatifs garantis jusqu’à 12 mois ou 60 000 $ par bailProtection contre les dommages causés par des locataires malveillants jusqu’à 10 000 $ par bailFrais juridiques engagés pendant le processus d’expulsion couverts jusqu’à 2 000 $Collecte automatique des loyers via PAD2 rapports de locataire GRATUITS lorsque vous payez annuellement Que se passe-t-il lorsque les locataires ne paient pas leur loyer ? Puisque nous percevons le loyer pour vous, nous saurons immédiatement si le locataire n’a pas payé et nous prendrons les mesures nécessaires pour contacter le locataire et percevoir le loyer. Si le locataire ne répond pas, nous continuerons à payer votre loyer jusqu’à 12 mois tout en travaillant avec notre équipe parajuridique pour expulser le locataire délinquant. Que se passe-t-il si le locataire cause des dommages ou vandalise mon bien ? En cas de dommages matériels négligents ou intentionnels de la part du locataire, veuillez nous en informer dans le jour ouvrable suivant et vous serez remboursé jusqu’à 10 000 $ de dommages si le locataire refuse de payer. De quels documents avez-vous besoin pour bénéficier de la Garantie Loyer ? Pour démarrer la Garantie des Loyers, nous avons besoin des documents suivants :Un rapport de sélection des locataires SingleKey pour chaque locatairePreuve de revenu récente sous la forme de fiches de paie récentes, de relevés bancaires ou d’une lettre de travailNotez qu’un contrat de location valide et signé n’est requis qu’après l’approbation de la garantie de loyer par notre équipe.Nous recommandons également au propriétaire d’effectuer un rapport d’inspection préalable, comprenant des images de la propriété détaillant l’état du logement avant l’emménagement du locataire. Une assurance propriétaire ou habitation est également requise. Quelles sont les conditions d’éligibilité des locataires ? La bonne nouvelle est que nous ne qualifions pas les locataires uniquement en fonction de leur cote de crédit. Pour garantir l’abordabilité, nous exigeons que le loyer ne puisse pas dépasser 50 % du revenu brut du ménage du locataire. Garantissez-vous les locataires existants et les nouveaux ? Oui, nous pouvons garantir les nouveaux locataires et les locataires à mi-location. Pour les locataires existants, nous exigeons simplement la confirmation que le locataire a effectué ses paiements de loyer antérieurs à temps. Qui garantit le programme de garantie de loyer SingleKey ? Le programme de garantie de loyer SingleKey est soutenu par Pensio Global et est garanti par une garantie de bonne exécution émise par des assureurs mondiaux notés A.M. Meilleur A-. En savoir plus sur la base de connaissances En savoir plus Garantie de loyer Protégez vos revenus locatifs Louez votre logement et confiez-nous les risques. En cas de non-paiement des loyers, de dégâts matériels ou de rupture de bail, la garantie de loyer offre aux propriétaires une tranquillité d'esprit ultime en leur fournissant une sécurité financière et un soutien juridique. Obtenir un devis Commencez Pourquoi la Garantie de Loyer ? Les problèmes de locataire peuvent coûter cher. Les locataires cessent de payer leur loyer pour de nombreuses raisons : perte d’emploi, problèmes de couple, problèmes de santé, problèmes de trésorerie… la liste est longue. Quelle que soit la raison, la Garantie de Loyer peut prendre en charge les risques afin que vous n’ayez jamais à vous soucier des pertes liées aux arriérés de loyer, aux frais juridiques ou aux dommages matériels. -12,000$ Coût moyen des expulsions locatives payé par propriétaires -1,250$ Coût moyen des frais de justice, de dépôt au tribunal et d'huissier de justice pour les audiences de location 4-8 mois Délai d'expulsion d'un locataire (varie selon la province) En savoir plus Téléchargez la brochure Garantie de Loyer par SingleKey Eliminez les pertes les risques le stress liées à la location Lorsque vous ne pouvez pas compter sur les locataires pour couvrir vos paiements hypothécaires, la Garantie de Loyer intervient en apportant un soutien financier et une assistance juridique afin que vous n'ayez pas à vous inquiéter. Garantie de revenus locatifs En cas d'impayé, nous couvrons jusqu'à 12 mois de loyer (jusqu'à 60,000$). Protection contre les ruptures de bail Obtenez 30 jours de loyer payé si votre locataire part sans préavis. Protection contre les dommages matériels Nous remboursons les dommages impayés causés par des locataires malveillants, ordonnés par un tribunal, jusqu'à concurrence de 10 000$. Soutien juridique et résolution des expulsions En cas d'expulsion, notre équipe de juristes vous accompagnera tout au long de la procédure et les frais de justice seront remboursés jusqu'à concurrence de 2,000$. Recouvrement automatisé des loyers Mettez en place des paiements mensuels automatisés avec vos locataires et aidez-les à augmenter leur cote de crédit en payant à temps. (Optionnel) Rapport du locataire Chaque abonnement à la Garantie de Loyer est accompagné de deux rapports sur les locataires afin que vous puissiez sélectionner des locataires potentiels en toute confiance. Réservez un appel Découvrez nos avis Pour commencer Obtenez la garantie en 4 étapes Remplissez quelques informations pour que votre locataire soit approuvé immédiatement. C'est aussi simple que cela. Mise en place Documents requis Se qualifier Se faire rembourser Mise en place Créer un compte Inscrivez-vous à la Garantie de Loyer en partageant quelques informations sur votre logement et votre/vos locataire(s). Faites approuver votre locataire Téléchargez quelques documents pour lancer le processus d’approbation du locataire, y compris son rapport de locataire et sa preuve de revenu Voir Critères de qualification (Optionnel) Mettre en place le Recouvrement des Loyers Choisissez la manière dont vous souhaitez recouvrer votre loyer. Notre outil automatisé de recouvrement des loyers est gratuit pour tous les clients de La Garantie de Loyer. Commencez votre couverture Après avoir fourni les informations et les documents requis, nous vous contacterons dans les plus brefs délais pour vous faire parvenir votre contrat de Garantie de Loyer finalisé. Documents requis Pour les nouveaux locataires Les nouveaux locataires de moins de 6 mois sont tenus de présenter les documents suivants : Rapport de solvabilité du locataire ou Rapport du locataire SingleKey Preuve de revenus Pour les locataires en milieu de bail Les locataires en milieu de bail ayant plus de 6 mois de bail doivent présenter les documents suivants : Preuve du paiement du loyer au cours des derniers mois Rapport de solvabilité ou Rapport du Locataire SingleKey (optionnel, mais préférable) Preuve de revenus (optionnel, mais préférable) Se qualifier Exigences pour les locataires Les locataires sont qualifiés pour être couverts par la Garantie de Loyer s’ils présentent les caractéristiques suivantes Aucune faillite ou expulsion n’a été enregistrée dans leur dossier de crédit au cours des trois dernières années Au moins un membre du ménage a un emploi Un ratio loyer/revenu brut du ménage ne dépassant pas 50% *Les locataires ne seront pas évalués en fonction de leur cote de crédit Exigences relatives aux propriétaires et aux biens immobiliers Les propriétaires peuvent faire couvrir leur(s) bien(s) par la Garantie de Loyer s’ils peuvent fournir la preuve des éléments suivants : Le bien est une unité locative légale Un bail valide a été signé avec un locataire Pour réclamer des dommages matériels, une liste de contrôle de l’emménagement ou des photos de pré-inspection Se faire rembourser Expliquez-nous ce qui s’est passé Défaut de Garantie de Loyer: Avisez-nous par écrit dans les trois (3) jours ouvrables d’un défaut de paiement du loyer par le locataire. Dommages volontaires: Avisez-nous par écrit dans les dix (10) jours ouvrables suivant la constatation d’un dommage matériel causé par votre locataire Joindre les documents requis Soumettez votre réclamation à partir de votre compte SingleKey ou envoyez-nous une note à info@singlekey.com pour connaître les prochaines étapes. Voir les documents requis Soumettre votre demande Soumettez votre réclamation à partir de votre compte SingleKey ou envoyez-nous une note à info@singlekey.com pour connaître les prochaines étapes. Réservez un appel Tarification Paiement mensuel. Pas de frais cachés. Tout est couvert pour un faible pourcentage de votre loyer mensuel. De plus, vous pouvez économiser davantage en payant annuellement. 5% du montant du loyer mensuel, payé annuellement ou 5,5 % en cas de paiement mensuel Inclut : Loyer garanti Protection contre les dommages Protection contre les frais de justice Protection contre la vacance Recouvrement des loyers (optionnel) 2 rapports gratuits sur les locataires Réservez un appel Écoutez nos utilisateurs Détendez-vous avec la garantie de loyer Écoutez les témoignages de propriétaires sur la façon dont la Garantie de Loyer les a protégés. Réservez un appel Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. Ali Landlord Let SingleKey cover lost rent and guide you through an eviction with professional legal support. Arjit Landlord Find peace of mind and the confidence to rent as a first-time landlord with SingleKey’s Rent Guarantee. As seen in Les critiques sont arrivées "Un modèle brillant qui vous protège contre toute incertitude de ne pas recevoir votre loyer. “Brilliant model that protects you from any uncertainty of not getting your rent. Loved the overall support. My account manager even responded to my requests on weekends! SingleKey gives me peace of mind!” Maunil Parikh SingleKey Customer “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “I used SingleKey for tenant verification and background check. I am impressed with the service I got and have signed up for Rent Guarantee. It’s an insurance for landlords for rent and seems like a great option. I hope I don’t have to use the benefits or leverage Rent Guarantee program but at least have a peace of mind that I will be covered in case needed.” Faisal Saeed SingleKey Rent Guarantee Customer Voir tous les commentaires FAQ sur la garantie de loyer Au cas où vous seriez se demander... Trouvez les réponses à nos questions les plus fréquentes ou contactez-nous pour en savoir plus. Réservez un appel Que comprend le programme de Garantie de Loyer ? Le programme de Garantie de Loyer inclutRevenu locatif garanti jusqu’à 12 mois ou 60,000$ par bailProtection contre les dommages causés par les locataires malveillants, jusqu’à concurrence de 10,000$ par bailPrise en charge des frais juridiques liés à la procédure d’expulsion jusqu’à 2,000$.Recouvrement automatique du loyer par le système de paiement par débit préautorisé (DPA)2 vérifications GRATUITES de la solvabilité et des antécédents du locataire Que se passe-t-il lorsque les locataires ne paient pas leur loyer ? Comme nous percevons les loyers pour vous, nous savons immédiatement si le locataire n’a pas payé et nous prenons des mesures pour contacter le locataire et recouvrer le loyer. Si le locataire ne réagit pas, nous continuerons à payer votre loyer pendant une période pouvant aller jusqu’à 12 mois, tout en travaillant avec notre équipe de juristes pour expulser le locataire défaillant. Que se passe-t-il si le locataire cause des dommages ou vandalise mon bien ? En cas de dommages matériels causés par le locataire par négligence ou intentionnellement, veuillez nous en informer le jour ouvrable suivant et vous serez remboursé jusqu’à concurrence de 10,000 dollars de dommages si le locataire refuse de payer. Quels sont les documents dont vous avez besoin pour mettre en place la Garantie de Loyer ? Pour démarrer la Garantie de Loyer, nous avons besoin des documents suivants :Un rapport de solvabilité pour chaque locataire – nous pouvons vous aider.Une preuve récente de revenus sous la forme de fiches de paie récentes, de relevés bancaires ou d’une lettre d’emploi.Notez qu’un contrat de location valide et signé n’est requis qu’après l’approbation de la garantie de loyer par notre équipe.Nous recommandons également au propriétaire d’effectuer un rapport d’inspection préalable. Il s’agit d’un document qui comprend des images du bien et qui décrit en détail l’état du logement avant que le locataire ne s’y installe. Une assurance propriétaire ou une assurance habitation est également requise. Quelles sont les conditions d'éligibilité des locataires ? La bonne nouvelle, c’est que nous ne qualifions pas les locataires sur la seule base de leur cote de crédit. Pour garantir l’accessibilité financière, nous exigeons que le loyer ne dépasse pas 50% des revenus bruts du ménage du locataire. Garantissez-vous à la fois les locataires existants et les nouveaux locataires ? Oui, nous pouvons garantir les nouveaux locataires et les locataires en cours de bail. Pour les locataires existants, nous demandons simplement la confirmation que le locataire a payé son loyer en temps et en heure. La location sans stress commence ici. Faites l'expérience de la location sans risque, uniquement avec SingleKey. Réservez un appel Découvrez nos avis --- ### Homepage [Homepage](https://www.singlekey.com/fr-ca/homepage/) Date: January 18, 2023 Author: SingleKey Content: Louez en toute confiance Filtrez les candidats et trouvez le locataire idéal pour votre logement locatif, et assurez-vous que vos paiements de loyer sont garantis chaque mois. Créer un compte gratuit Approuvé par : Éliminez les risques liés à la location en 3 étapes faciles Sélectionner, collectez et gérez les risques sur une seule plateforme intégrée. ÉTAPE 1 Exécutez un rapport complet de sélection des locataires Combinez une vérification de crédit complète par Equifax, TransUnion ou Nova Credit avec des informations détaillées sur l’emploi et les revenus pour obtenir une image complète de vos locataires potentiels. Alimenté par Explorer la vérification des locataires ÉTAPE 2 Percevez votre loyer à temps chaque mois Évitez les retards de paiement de loyer et recevez votre loyer directement sur votre compte bancaire grâce à notre système de paiement automatisé. Découvrir la collecte des loyers ÉTAPE 3 Garantissez vos revenus locatifs Ne vous inquiétez plus de devoir payer une deuxième hypothèque. En cas de loyer impayé, de dommages matériels ou d'expulsion, la Garantie de Loyer prend en charge les risques du locataire et vous apporte un soutien financier et juridique. Explorer la garantie de loyer À qui s'adresse-t-il ? Notre plateforme intégrée vous emmène du prospect à la location. Collectez, qualifiez et gérez vos risques avec SingleKey. Pour les propriétaires Pour les gestionnaires immobiliers Pour les agents immobiliers Pour les locataires Pour les propriétaires Louer peut être risqué, que vous soyez un propriétaire nouveau ou expérimenté. Le rapport sur les locataires de SingleKey vous fournit toutes les données dont vous avez besoin, afin que vous puissiez identifier les signaux d'alarme des locataires et prendre des décisions plus éclairées. Un aperçu complet du crédit, de la location et de l’historique d’emploi d’un locataire potentiel dans un résumé facile à comprendre Un processus simplifié de sélection des locataires en ligne qui vous guide depuis la collecte des prospects jusqu'à la signature du bail Outils intégrés pour prévenir la fraude locative et réduire le risque de défaut de paiement des locataires Inscrivez-vous pour un compte gratuit Pour les gestionnaires immobiliers Rendez la sélection des locataires plus efficace et concentrez-vous sur les tâches de gestion immobilière qui vous aident à gérer vos propriétés de manière plus rentable. Faites plus avec moins : examinez et sélectionnez rapidement les locataires de vos propriétés grâce à notre rapport complet de sélection des locataires. Notre service d’assistance prioritaire vous offre l’assistance dont vous avez besoin sans attente et sans frais supplémentaires. Débloquez la tarification au volume lorsque vous exécutez régulièrement plus de 10 rapports par mois. Inscrivez-vous pour un compte gratuit Pour les agents immobiliers Protégez vos clients. Trouvez des locataires dignes de confiance pour vos clients Protéger les clients avec des finances Bénéficiez d'avantages partenaires exclusifs Inscrivez-vous pour un compte gratuit Pour les locataires Démarquez-vous sur un marché locatif compétitif grâce à des services de garant et une application de location partageable. Montrez aux fournisseurs de logements que vous êtes un locataire en qui ils peuvent avoir confiance avec SingleKey comme garant. Les nouveaux arrivants, les étudiants et ceux ayant un faible crédit ont de meilleures chances d’obtenir l’approbation de leur bail lorsqu’ils sont soutenus par nous. Partagez votre rapport de crédit avec autant de propriétaires potentiels que nécessaire, sans affecter votre pointage de crédit. Inscrivez-vous pour un compte gratuit Vous êtes en bonne compagnie 147K+ Propriétaires 9K+ Agents immobiliers 1,000+ Gestionnaires immobiliers 523K+ Locataires Quel est le coût ? Sélection des locataires À partir de 29,99 $ / rapport Trouvez votre locataire idéal avec un historique de crédit, de location et d’emploi vérifié et complet. Commencer le dépistage Collecte des loyers À partir de 4,99 $ / mois par locataire Obtenez un loyer à temps, à chaque fois en automatisant vos paiements de loyer. Recevoir votre loyer Garantie de loyer À partir de 5% / loyer mensuel par locataire Protégez-vous contre les loyers impayés, les frais d’expulsion et les frais de dommages. Protégez vos revenus Rationalisez votre bail 
à chaque étape Filtrez votre 
locataire Générez un rapport sur le locataire et obtenez son historique de crédit. Signez votre bail numériquement Une fois que vous avez trouvé votre locataire idéal, invitez-le à signer un bail avec eLease. Récupérez votre loyer Collectez le loyer mensuel via EFT ou carte de crédit avec paiements automatiques, signalés au bureau de crédit. Sécurisez vos 
revenus locatifs Règlement des litiges, accompagnement juridique, entretien et loyer garanti Découvrez nos produits complémentaires Pré-sélectionner les prospects Présélectionnez les prospects intéressés en posant des questions clés avant de procéder aux visites. Essayez gratuitement Apprendre plus Créer et signer des baux Une fois que vous avez trouvé votre locataire idéal, invitez-le à signer un bail avec eLease. Alimenté par Essayez gratuitement Apprendre plus Vous avez des questions ? Parlez avec une vraie personne Notre équipe de réussite client, qui jouit d'une excellente réputation, est là pour vous aider. Basés à Toronto, nos sympathiques représentants se consacrent à fournir une assistance personnalisée. Les heures d'ouverture de l'assistance en direct sont de 8h00 à 19h00 (heure de l'Est) en semaine et de 10h00 à 14h00 (heure de l'Est) le samedi. Entrer en contact Découvrez pourquoi nous sommes classés au premier rang parmi les propriétaires Un locataire a résilié son bail un mois plus tôt et SingleKey est intervenu pour couvrir la perte de loyer pour ce mois (service de garantie de loyer). Le processus était simple et le paiement a été rapide. C'est rassurant de savoir que j'ai ce genre de soutien en tant que propriétaire. Je le recommande vivement ! Devin J. septembre 2024 Excellent service pour les propriétaires - en particulier la sélection des locataires et les éléments d'éducation/connaissance. Le service client est très réactif et serviable. Je suis client payant de SingleKey depuis 2 ans et je continuerai à utiliser cette plateforme. Daniel B. août 2024 L'agent Rahi a passé près d'une heure avec moi, un senior, pendant que je remplissais les formulaires en ligne. Il était très sympathique, compétent et patient alors qu'il m'accompagnait étape par étape tout au long du processus. Veuillez reconnaître les efforts de Rahi comme étant des compétences extraordinaires et excellentes en matière de service à la clientèle et un gentleman général. Merci Titanic! Danielle B. octobre 2024 très facile à utiliser, je suis un agent Realtor® et je l'ai utilisé pour contrôler les locataires. Le rapport est très détaillé et m'aide à rester conforme à Fintrac. Keith J. octobre 2024 SingleKey est un excellent outil pour les propriétaires. Surtout avec tous les documents frauduleux que nous recevons ces jours-ci. Le déploiement des vérifications de crédit internationales est un ajout étonnant à un outil déjà formidable. Jonathan C. juin 2024 J'utilise SingleKey depuis plus d'un an maintenant et c'est transparent. Et les quelques fois où j’ai eu besoin d’aide, ils ont répondu rapidement et ont pu résoudre mon problème rapidement. Merci SingleKey pour toute votre aide ! Jacob H. mai 2024 Voir tous les avis Location sans risque. Enfin. La location devient imprévisible. Protégez vos revenus locatifs grâce aux solutions d'atténuation des risques de SingleKey pour les propriétaires, les gestionnaires immobiliers et les locataires. Inscrivez-vous gratuitement La confiance de 120 000 propriétaires Rencontrez SingleKey Protection des loyers du début à la fin Eliminez les risques liés à la location en 3 étapes simples. Voici comment. Rapport du Locataire Recouvrement des Loyers Garantie de Loyer Première étape Choisissez des locataires sûrs Sélectionnez vos locataires plus rapidement et plus intelligemment que n'importe quel rapport de solvabilité. Notre rapport détaillé sur les locataires vous donnera des résultats en quelques minutes et comprend des vérifications de solvabilité, de références, d’antécédents faultifs et médias sociaux Deuxième étape Soyez payé à temps Oubliez la paperasse. Mettez en place des dépôts mensuels automatisés avec votre locataire et encouragez les locataires à respecter les paiements ponctuels. Troisième étape Garantissez vos revenus En cas de défaillance du locataire, la Garantie de Loyer vous offre un filet de sécurité financier, une assistance juridique et une protection contre les dommages. La location, réimaginée Détendez-vous, vous avez SingleKey Peu importe où se situe votre situation sur le marché de la location, nous avons une solution pour vous débarrasser du stress de la location. Pour les propriétaires Pour les gestionnaires immobiliers Pour les agents immobiliers Pour les locataires Pour les propriétaires Louez votre logement, sans risque Trouver des locataires en qui vous pouvez avoir confiance Aidez les locataires à améliorer leur crédit Obtenir des garanties financières et juridiques pendant toute la période de location En savoir plus Rapport du Locataire Garantie de Loyer Inscrivez-vous gratuitement Pour les gestionnaires immobiliers Fill units faster & safer Speed through tenant screenings with Canada’s fastest report Free up time with seamless API integrations (no more forms to fill!) Enjoy exclusive partner perks & volume discounts Discover the benefits Pour les agents immobiliers Keep your business thriving Find trustworthy tenants for your clients Protect clients with financial & legal backups Enjoy exclusive partner perks & volume discounts Discover the benefits Pour les locataires Be a standout applicant Create one digital tenant profile for any rental application Get payments deposited automatically Build your credit score as you rent Learn More Universal Rental Application Tenant Key/Tenant Passport Sign up for free Vous êtes en bonne compagnie Rejoignez notre communauté en rapide expansion. Aujourd'hui, nous sommes fiers de servir: 120,000 Propriétaires 500,000+ Locataires 6,500+ Agents immobiliers 650+ Gestionnaires immobiliers d'entreprise La force des gens et de la passion SingleKey change la façon de louer. Découvrez comment nous favorisons de meilleures relations entre propriétaires et locataires grâce à des produits bien pensés et conçus dans un but précis. Découvrez nos avis As seen in Les critiques sont arrivées "Cette entreprise change la donne." “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field." a-a SingleKey Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer Voir tous les commentaires Louez sans risque dès aujourd'hui. Louez en toute sécurité et en toute sérénité avec SingleKey. Inscrivez-vous gratuitement Découvrez nos avis --- ## FR-CA Posts ### Comment présélectionner les locataires avec SingleKey [Comment présélectionner les locataires avec SingleKey](https://www.singlekey.com/fr-ca/rapport-du-locataire/comment-preselectionner-les-locataires-avec-singlekey/) Date: April 3, 2025 Author: SingleKey Content: La présélection d'un candidat à la location est un moyen facile de recueillir des informations de base et de se faire rapidement une idée sur un locataire potentiel avant d'établir un rapport de crédit à leur sujet. Il s'agit d'une stratégie utile dans la boîte à outils d'un propriétaire, en particulier lorsqu'il y a plusieurs demandes de location.  SingleKey propose un outil gratuit qui permet aux propriétaires de présélectionner leurs locataires à l'aide d'un formulaire personnalisable. Voici un guide rapide sur la façon d'utiliser cette fonction simple mais puissante. Étape 1: Se connecter à votre compte Se connecter à votre compte SingleKey et cliquer sur l'option « Pre-screen » en haut de l'écran. Étape 2: Personnalisez votre formulaire Près du haut de la page, sélectionnez le bouton «Preview» (aperçu) du formulaire. Vous accédez alors à un nouvel écran dont la partie droite comporte des champs que vous pouvez activer ou désactiver. Choisissez parmi une série de critères, tels que la catégorie de revenu du ménage et la source de revenu, à inclure dans le formulaire de présélection. Quand vous avez fini de personnaliser le formulaire, cliquez sur le bouton bleu « Save » et fermez pour l'enregistrer pour toutes les futures présélections de locataires. Once you’ve finished customizing the form, click the blue Save & close button to save it for all future tenant pre-screenings. Étape 3: Inviter le locataire Maintenant que vous avez personnalisé votre formulaire de présélection, cliquez sur le bouton bleu « Get started (Commencez) pour inviter un locataire potentiel à le remplir. Étape 4: Sélectionnez le niveau de présélection dont vous avez besoin Dans la fenêtre contextuelle, choisissez entre une présélection de base ou une «Pre-Screen Plus ». Avec la « Pre-Screen Plus », vous obtiendrez la vérification du score de crédit, des revenus et de l'identité du demandeur. En savoir plus sur la différence entre la présélection de base et la « Pre-Screen Plus ». Étape 5: Envoyez l'invitation à la présélection Ensuite, choisissez votre logement dans le premier menu déroulant ou ajoutez un nouveau logement. Vous pouvez saisir jusqu'à cinq courriels de locataires. Vous pouvez également copier le lien pour partager le formulaire. Si vous avez choisi l'option « Pre-Screen Plus », vous serez guidé vers la page de paiement. Si vous avez choisi une présélection de base, le fait de sélectionner « Continue » enverra les invitations aux adresses électroniques des candidats fournies. Étape 6: Gérer le statut des présélections Quaand vous avez envoyé une invitation à la présélection, le locataire recevra dans les minutes qui suivent un courriel de SingleKey lui demandant de remplir le formulaire. Grâce à votre tableau de bord SingleKey, vous pourrez voir quels candidats n'ont pas encore rempli leur formulaire de présélection et décider si vous souhaitez leur envoyer un rappel. Notre outil de présélection comporte également des options de recherche et de filtrage, ce qui vous permet de trouver rapidement des candidats en fonction de leur nom, de leur adresse, de leur courriel, de la date d'envoi de la demande ou de l'adresse de votre unité locative. Étape 7: Sélectionnez vos meilleurs candidats Une fois les formulaires de présélection remplis, vous pouvez facilement trier les candidats à la location en fonction de leur solvabilité et de leur revenu. Affinez vos choix et sélectionnez les candidats à la location que vous souhaitez continuer à examiner en établissant un rapport de solvabilité complet à leur sujet. Nos dernières réflexions Une approche échelonnée de la sélection lors de l'attribution d'un poste vacant est le meilleur moyen d'obtenir un locataire fiable. Cette stratégie commence par la présélection des candidats à la location à l'aide d'une plateforme en ligne comme SingleKey. Vous découvrirez des détails importants, comme le statut professionnel et le revenu d'une personne, et vous aurez toutes les informations dont vous avez besoin pour décider qui poursuivre le processus de sélection des locataires. Pour plus de conseils sur ce qu'il faut rechercher lors du choix d'un nouveau locataire, consultez cet article: How to Screen Like a Pro. --- ## EN-US Pages ### Enterprise [Enterprise](https://www.singlekey.com/en-us/enterprise/) Date: March 27, 2025 Author: SingleKey Content: Innovative risk management tools Simplify property management and protect your rental income—all in one platform. With SingleKey, property managers, realtors, and developers get comprehensive tenant screening and rent guarantees to reduce tenant risk, streamline operations, and enhance the tenant onboarding experience. Book a demo Become a partner Smarter rental management, all in one place Take the risk out of managing rental properties and build strong portfolios. Our intuitive platform lets you effortlessly screen tenants, guarantee rent, automate rent payments, and collaborate with team members. Comprehensive tenant screening Get all the info you need to choose high quality tenants. Each Tenant Report includes a tenant credit check, eviction record search, and extensive payment history in an easy-to-read format. Learn more View sample Extensive Rent Guarantee protection Safeguard your rent with the nation’s largest Rent Guarantee Program and get financial and legal support for missed rent payments, lease breaks, and property damage. Learn more GET STARTED TODAY Become a SingleKey Partner Watch this video to learn more about how SingleKey helps our enterprise clients manage their rental properties. Connect with us Enterprise partner perks Get in touch to learn more about our partner perks. Contact us Priority assistance Get dedicated support whenever you need it. Enterprise clients get priority phone assistance from our top-rated, local customer success team at no extra cost. Easy team management Simplify how you collaborate with your teams with flexible user options. Add unlimited team members, organize users by organizations or buildings, and manage shared credit card access. Volume discounts Enterprise pricing is available based on volume. API integrations Seamlessly connect to your existing systems to streamline operations, automate workflows, and enhance efficiency. API integrations are available for large property managers, with more coming soon. See our current API integration list below. Yardi Powerful, enterprise-level property management software Powerful, enterprise-level property management software Buildium Simplified property management for residential portfolios Simplified property management for residential portfolios Rent Manager Customizable software built for growing property management companies Customizable software built for growing property management companies Leadsimple Sales and operations CRM purpose-built for property managers Sales and operations CRM purpose-built for property managers Entrata All-in-one platform with robust leasing and student housing tools All-in-one platform with robust leasing and student housing tools Appfolio Cloud-based software for modern property managers Cloud-based software for modern property managers Property Vista Comprehensive solution with strong leasing and communication tools Comprehensive solution with strong leasing and communication tools Propertyware Flexible platform tailored for single-family property management Flexible platform tailored for single-family property management Our team is constantly expanding integration options to support your needs. 
Let us know what property management software you'd like us to connect to next. Request an API integration get started Unlock partner benefits with SingleKey Join hundreds of industry professionals who trust SingleKey to protect their clients' rental income and simplify leasing. Get in touch to learn more about our partner perks and pricing. REVIEWS Why property managers trust SingleKey I have been using SingleKey and previously Naborly many years for tenants screening on the rental property. Easy to use and one-step process to get full information on the credit report. The support service is very friendly! Jenny S. February 2025 Straight forward and to the point, easy to access. The information we receive on tenants is easy to understand and very thorough. The ease of use for us and our tenants is probably one of the strongest points. Support is fantastic. This will be our "goto" always! Heidi P. February 2025 SingleKey is the answer to a peaceful [night’s] sleep. Rent guarantee is the guarantee. And with Andrew, helping you at every step, from screening the potential tenant to getting their credit reports to signing lease to pre authorized rent withdrawal, you can rely on him, all the way. Want to secure your investment, get in touch with Andrew at SingleKey. Narinder S. February 2025 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of the U.S. and Canada including Quebec.For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.

As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.Read our full guide on how to read the SingleKey Tenant Report. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections. --- ### Reviews [Reviews](https://www.singlekey.com/en-us/reviews/) Date: November 24, 2023 Author: SingleKey Content: Reviews and testimonials We serve thousands of homeowners and tenants every day. Here’s how we’ve helped our community take the risk out of renting. Liked our products and services? We’d love to hear your feedback. Write a review Better Business Bureau Reviews Singlekey has been true to their commitment so far. They cover for missed rent payments and also offer a bunch of nice-to-have services under rent guarantee program. Arijit R SingleKey Customer I used them multiple times to screen my new tenants and applicants. very smooth and easy to use. Hedi R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer Excellent Rental Guarantee Services by Single-key I've had an amazing experience with Single-key, thanks to their consistent rental guarantees over the past few years. Their team was professional and responsive, guiding me through a seamless process. The thorough tenant screening and ongoing support provided me with peace of mind as a landlord. Single-key's user-friendly platform made managing guarantees effortless. Meghani A SingleKey Customer 5/5 stars on BBB See all BBB reviews Social Mentions Cody Vieira @cody.vieira Kory MacKinnon @korymackinnon David Elliott @davidelliott_realestate Meghan @meghancfp CondoInvest.ca @condoinvest.ca SingleKey @SingleKeyCom Alex Dunbar @alexrdunbar Isaiah Henry @itsmrhenry Alex Dunbar @alexrdunbar Tyler Oxford @tylerjoxford Isaiah Henry @itsmrhenry Google Reviews “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer Great system and the idea behind the existence of SingleKey. Helps out both sides of the aisle - the landlord for protection and (especially their rent guarantee program) and the tenant for building credit. Plus their support staff is responsive and available to answer questions promptly. Aadish G. SingleKey Rent Guarantee Customer I have used SingleKey for background check of my tenants and have always been happy with turnover time & quality of information provided. As a realtor, I always feel comfortable to suggest SingleKey as a tool to my investor clients, with added advantage of Rent Guarantee???? Alok C. SingleKey Rent Guarantee Customer See all reviews See more reviews Check out what the rest of our community is saying about SingleKey. See reviews See reviews You've seen us in the news --- ### Contact [Contact](https://www.singlekey.com/en-us/contact/) Date: March 1, 2023 Author: SingleKey Content: Contact Us Get in touch with SingleKey Have a question or concern? Send us a message and we’ll get back to you very soon. I am a... Homeowner Tenant Property Manager Real Estate Agent I am interested in.. Tenant Report Rent Collection Rent Guarantee Partner Program Universal Rental Application Tenant Passport SingleKey Careers General Inquiries Are you a returning customer? Yes No Submit Or reach us directly: General Inquiries 1-877-978-1404 info@singlekey.com Media Contact marketing@singlekey.com --- ### Terms & Conditions [Terms & Conditions](https://www.singlekey.com/en-us/terms-and-conditions/) Date: February 28, 2023 Author: SingleKey Content: Terms of Use Published on Oct 18, 2021 | Updated on Mar 10, 2025 1. Introduction The following terms and conditions are the Terms of Use for our website and platform located at: www.singlekey.com (the “Site”) made available by SingleKey Inc., including its affiliates and any other wholly owned subsidiaries  (“SingleKey”, “SingleKey”, “we”, “us” or “our”).The purpose of the Site is to provide users (“User(s)” or “you”) with a technology platform (“Platform”) that facilitates communication between landlords and tenants, and facilitates access to landlord and tenant related products and services as may be available from time to time, provided by our partners and suppliers, including and not limited to: prescreening, application and screening,  leased property information, electronic lease execution, rental collection, rent guarantee services, rent reporting, credit monitoring, and other information, products, and services relating to SingleKey’s mission, approach and initiatives (“Platform Services”). The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork, graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or we explicitly say so in writing, the term “Site” includes all of the Contents. These Terms of Use constitute a legally binding agreement between you and SingleKey regarding your use of and access to the Site. These Terms of Use do not alter in any way the terms and conditions of any other agreement you may have with SingleKey, unless otherwise agreed to in writing by SingleKey. If you breach any of these Terms of Use, your authorization to use the Site automatically terminates and you must immediately destroy any Contents in your possession and discontinue all use of the Site. 2. Provision of the Site by SINGLEKEY You acknowledge and agree that the form and nature of the Site may change from time to time without prior notice to you.You acknowledge and agree that SingleKey may stop (permanently or temporarily) providing the Site, Platform, Platform Services, or any features within the Site to you or to users generally, at SingleKey’s sole discretion, without prior notice to you. You may stop using the Site at any time. You do not need to inform SingleKey when you stop using the Site or any of its features. You acknowledge and agree that if SingleKey disables access to your account, you may be prevented from accessing the Site, your account details or any files or other content which is contained in your account. 3. Use of the Site by You Your use of the Site is subject to all applicable local, provincial, state and federal laws and regulations. You may not use, allow, or enable others to use the Site, or knowingly condone use of the Site by others, in any manner that is, attempts to, or is likely to:be obscene, fraudulent, defamatory, libelous, indecent, discourteous, racially or ethnically offensive, harassing, threatening, abusive, pornographic or discriminatory;affect us adversely or reflect negatively on us, the Site, our goodwill, name or reputation or cause duress, distress, or discomfort to us or anyone else, or discourage any person, firm, or enterprise from using all or any portion, features, or functions of the Site, or from advertising, linking, or becoming a supplier to us in connection with the Site;send or result in the transmission of junk e-mail, chain letters, duplicative or unsolicited messages, or so-called “spamming” and “phishing”;transmit, distribute, or upload content or programs that contain any viruses, Trojan horses, worms or other disabling devices or harmful components intended to damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or personal information;modify, disrupt, impair, alter, or interfere with the use, features, functions, operation, or maintenance of the Site or the rights or use and enjoyment of the Site by any other user;advocate or encourage any illegal activity;infringe upon or misappropriate the copyright, patent, trademark, trade secret, publicity rights or other intellectual property or proprietary rights of SingleKey or any third party;violate the privacy of any individual, including users of the Site; orviolate any applicable local, provincial, state or national laws or regulations (anywhere in the world). Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not: reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose;send commercial electronic messages;collect, use, or disclose personal information in violation of applicable privacy legislation in the jurisdiction in which the content is posted or viewed; oruse or attempt to use the Site for advertising or promotional purposes related to any business you conduct commercially, nor shall you solicit, invite or accept any commercial offers made available via the Site;In order to access certain products and services on the Site or as part of the account registration process, you are required to provide information about yourself (such as identification or contact details). You agree that any registration information you give to SingleKey will always be accurate, correct and up to date. You may be requested by SingleKey to update this information from time to time, at SingleKey’s discretion.Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose.You agree that you are solely responsible for (and that SingleKey has no responsibility to you or to any third party for) any breach of your obligations under these Terms of Use and for the consequences (including any loss or damage which SingleKey may suffer) of any such breach. 4. Account Registration In order to access certain products and services on the Site you will be required to register as a User. As part of the account registration process, you may be required to provide information about yourself (such as government issued identification or contact details). You agree that any registration information you give to SINGLEKEY will always be accurate, correct and up to date. Before your account is created, SingleKey shall have the right to verify your personal information to ensure that its Site is being used for permissible purposes. SingleKey reserves the right to request any additional documentation or information from you prior to accepting your account registration. You must not register an account on the Site in a name other than a name legally recognised as being your real name. You also agree that you will be the only authorized user of the Site under these Terms of Use and will be solely responsible for the confidentiality of any user name and password supplied by you or provided to you. Should you become aware of any unauthorized use of your username or password with respect to any activity on the Site, you must immediately notify us via email or otherwise in writing. Upon receipt of such notice, we will take reasonable steps to stop any activity using your username or password, but neither SingleKey, nor any of its respective directors, officers, employees, agents, representatives or affiliates can or will have any responsibility or liability to any person whose claim may arise for any claims with respect to the handling or mishandling of any transaction on the Site resulting from the unauthorized use of your username or password.In using the Site and operating a User account, you warrant, represent and undertake that:you will be the only person who will use the Site using your account, and that you will not allow any other person, whether or not acting under your instructions, to use your account for any reason, and will actively take steps to prevent any other person to do such, and that in the event any other person uses your account, you are to be held responsible for any losses and damages caused as a result of that use;you will not use the account of any other person for any purpose;you will keep confidential any information you obtain that relates to any other User, including actual names and addresses of other Users, and will not publish or reproduce such information in any form, including without limitation on the Site, or on any external websites unaffiliated with SingleKey or in any print medium, without the prior written permission of the relevant User and SingleKey;you acknowledge that SingleKey is not liable for any breach of these Terms of Use by any other User or otherwise in relation to transactions carried out by means of the Site; andSINGLEKEY is not responsible for any losses you incur due to informational or technical errors in the account registration process, and will not be liable for any loss or damage you incur as a result of an unauthorised person using your account, including the use of any personal details you provide in the account registration process. you shall not: (a) transmit data that is illegal, harmful, threatening, insulting, disturbing, injurious, obscene, defamatory, unacceptable from a racial or ethnic perspective; (b) violate any of SingleKey’s intellectual property rights; (c) unlawfully gather information about others; (d) use any information obtained from the Site in order to harass, abuse, or harm another person; (e) attempt to impersonate another User or person or use the username of another User; (f) publish or otherwise transmit any malicious software or other computer codes, files or programs designed to interrupt, disrupt or restrict the operation of the Site, the Platform, Platform Services, our computer software, hardware, telecommunications equipment or to disrupt the normal transactions onto the Site or Platform; (g) use any robot, spider, offline reader, site search, retrieval application or other manual or automatic device or process to retrieve, index, data mine or in any way reproduce or circumvent the structure or presentation of the Site, its contents, or any processed data; (h) make improper use of our support services, submit false requests, or make any speculative or fraudulent background request orders; (i) modify, adapt, sub-license, “frame”, “mirror”, translate, sell, reverse engineer, decompile or disassemble any portion of the Site or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Site, Platform, or Platform Services thereto; (j) use, or attempt to use, the Site for unauthorized purposes; (k) use the Site for the benefit of any third party without SingleKey’s prior written permission; (l) create derivative works based on the Site or use the Site, Platform, and/or Platform Services to develop a competitive product offering; or (m) modify, remove, or obscure any copyright, trademark, patent or other notices or legends that appear on the Site and/or Platform. 5. Submission of Content The Site encourages submissions to the Site by its Users to access certain products and services. You acknowledge and agree that if you submit any information, including text, images, documents, other media, or any other material you make available to the Site, whether by posting, uploading, displaying, performing, transmitting or otherwise, or which you otherwise provide to SingleKey in respect of your use of the Site (“User Content”) you will be solely responsible for such User Content. SingleKey will not be liable in any way for any such User Content submitted. You further agree that you will not:submit any User Content which is harassing, abusive, threatening, harmful, libelous or defamatory, encourages conduct that could constitute a criminal offense or give rise to civil liabilities, or is unlawful in any other way.submit any User Content protected by intellectual property laws or by rights of privacy, unless you own the rights thereto or have received all necessary consents. You shall be solely liable for any damage resulting from any infringement of copyright, trademark or other proprietary rights;submit any User Content which contains a virus or other harmful components;engage in activity that interferes with or disrupts the use of the Site by other users;submit any User Content that encourages any illegal activities, or provides guidance or instructional activities about such illegal activities;make any false representation, including impersonation of any person or entity or misrepresentation of your affiliation with any person or entity; ormake use of any User Content for commercial purposes, such as advertising any products or services, reselling or publishing the information posted or transmitted.You represent and warrant that: (i) you own the User Content posted by you on or through the Site or otherwise have the right to grant the rights and licenses set forth in these Terms of Use; (ii) the posting and use of User Content on or through the Site does not violate, misappropriate or infringe on the rights of any third party, including, without limitation, privacy rights, publicity rights, copyrights, trademark and/or other intellectual property rights; (iii) you agree to pay for all royalties, fees, and any other monies owed by reason of User Content you post on or through the Site; and (iv) you have the legal right and capacity to enter into these Terms of Use in your jurisdiction.SingleKey does not pre-screen, monitor or edit the User Content posted or submitted to the Site. However, SingleKey reserves the right to edit, limit or remove any such User Content in its sole discretion. Notwithstanding, you shall remain solely responsible for any User Content you submit or post.When participating in, accessing, or viewing any posted User Content on the Site, you may be exposed to User Content that is inaccurate, incomplete or unsuitable. Please notify SingleKey (with the contact information posted at the bottom of this document) of any illegal or inappropriate User Content, and SingleKey will take appropriate action. SingleKey will ensure that any offending comments are removed, and take appropriate action against the offender. SingleKey will not be responsible for the User Content or accuracy of any information, and shall not be responsible for any acts taken or decisions made based on such information.SingleKey may establish procedures and practices relating to the use of and participation in the Site. Such procedures and practices may include limitations on the number of entries and the size of files that may be submitted, limitations on the number and type of User Content submitted at any given time and the number of days content will be saved before deletion. SingleKey will not be responsible for any User Content deleted by SingleKey or otherwise, or for your inability to submit any User Content.You hereby grant SingleKey a perpetual, worldwide, royalty-free, transferable, sub-licensable right to use, copy, distribute, transmit, display, communicate to other Users, reproduce, edit, translate and reformat the User Content in connection with the operation of the Site, Platform and Platform Services, except as otherwise limited by the Privacy Policy.SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. 6. Accessing Various Functions on SingleKey Platform SingleKey’s Site and Platform provides Users access to a variety of products and services that are created, offered, supported and maintained by third-parties (“Third-Party Partners”) unaffiliated with SingleKey, including and not limited to Certn, Equifax, Transunion, and other vendors, suppliers, and entities that have established a business or contractual relationship with SingleKey. Notwithstanding anything to the contrary in these Terms of Use, you acknowledge and agree that: (a) you access or deploy Platform Services which may be, in whole or in part, created, offered, supported and maintained by Third-Party Partners (“Third-Party Services”), at your sole discretion; (b) you shall read and abide by these Terms of Use in addition to any terms and conditions and privacy policies associated with any Third-Party Services which govern your use of such Third-Party Services; (c) SingleKey does not own or control Third-Party Partners or Third-Party Services; (d) SingleKey does not in any way warrant the accuracy, reliability, security, completeness, usefulness, non-infringement, or quality of any Third-Party Services; and (e) you bear all risks associated with using or relying on Third-Party Services. (a) SingleKey Tenant Screening Report SingleKey’s Tenant Screening Report (the “Report”) contains a compilation of User Content as well as data from third-party reporting agencies (including, but not specifically limited to personal information, credit information and history, education and employment information, and background check information provided and generated by credit bureaus, government agencies, police agencies, news publications, public court databases and other third-party sources (“Report Data”). Users hereby agree and acknowledge that the Platform solely provides and facilitates Users with access to the Report Data and all such Report Data is sourced and generated by SingleKey’s Third Party Partners who are reporting agencies, and not by SingleKey. Additionally, the User understands that the court document scan included in the Report is a scan of publicly available records only and is not a representation of official RCMP or FBI police clearance reports or local court record check. Users hereby agree and acknowledge that ordering a Report on a tenant applicant does appear as an inquiry on the tenant applicant’s credit file, however, it does not have a significant impact on the applicant’s credit score. (i) Enter Tenant InformationA User who is a landlord (“Landlord”) is required to obtain written consent from SingleKey before being able to order a Report on the Site. By selecting “YES” (or similar) for a Report on the Site, Landlord hereby provides SingleKey with express and irrevocable consent: a) to SingleKey to make requests to the relevant third-parties to generate the Report Data; b) to SingleKey’s third-party providers to generate the Report Data and provide the same to SingleKey, to be shared in the Report to Landlord; and c) to pay SingleKey the fees associated with access to the Report on the Site as further detailed in subsection 6(a)(iii) herein.  Should a Landlord fail to provide SingleKey with written or other sufficient proof that Landlord has obtained the necessary consent from the tenant to enable Report Data to be generated by SingleKey’s third-party providers, or any other documents requested by SingleKey at the time in which a Report is requested by Landlord, SingleKey maintains the right to block, or un-verify Landlord’s User account. (ii) Invite TenantIf an individual or User who is a prospective tenant (“Tenant”) submits User Content to SingleKey via the  “Invite Tenant” method or link, such submission shall be deemed as an act of Tenant providing SingleKey with express consent to incorporate the User Content in the Report, to request the relevant Third-Party Partner to generate further Report Data with respect to the Tenant, and to enable the relevant Landlord(s) reviewing the Tenant’s application access to the Report on the Site.    (iii) Final ProductPayment is required to process and complete an applicant’s request for a Report. All payments are made through a third party processor. Any report purchased by a User will remain in the Users account for up to ninety (90) days. After ninety (90) days, the report will be removed from the Account. Should a User need to access an old report, please contact info@singlekey.com. The Report is available for viewing through the User’s Account on the Site.  The Tenant also hereby grants SingleKey, the Landlord, Landlord’s agent, representative or property manager, express but revocable permission to view Tenant’s Report and perform any due diligence necessary (at their discretion), including but not limited to pulling a full credit report from one or multiple credit bureaus, contacting references, or verifying proof of income. By providing consent, potential applicants authorize SingleKey, and SingleKey’s Third-Party Partner reporting agency to access personal information to generate a Report. The applicant consents to the use, collection and controlled disclosure of their personal information including rental, court, employment, banking and financial history in accordance with SingleKey’s Privacy Policy. Any misrepresentation constitutes valid legal grounds for rejection of a Tenant’s application by either a Landlord or SingleKey. (b) SingleKey Rent Guarantee Program (i) Rent Guarantee EnrollmentIn order to access Rent Guarantee services provided by SingleKey’s third-party insurance partners, User must be subscribed to or have purchased any of the following: (a) SingleKey’s Tenant Screening Report services; (b) SingleKey’s online rent collection services; (c) electronic leasing services; and/or (d) any other products or services SingleKey may offer.  (ii) SingleKey – Landlord RelationshipUsers hereby acknowledge and understand that SingleKey’s role is to onboard and support Users. The scope of SingleKey’s obligation to Users are limited to providing User with customer service, customer onboarding, providing access to a Report, supporting User in the collection and submission of all required documents to a third-party underwriter for the purposes of accessing Rent Collection services on the Platform as provided by SingleKey’s third-party providers. Users hereby waive and release SingleKey of any and all rights they may have in regard to SingleKey at law or in equity to any action of any kind in respect of the Tenant Service Agreement, Rent Payment Contract Bond,  Enhanced Tenant Screening Service Guarantee Agreement, Enhanced Tenant Passport Screening Service Guarantee Agreement, or any other agreements between the Principal and the landlord. Users also acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to be subject to the SingleKey Tenant Screening service or the SingleKey Rental Guarantee Program, and have conducted their own due diligence and enquiries before accepting these terms. As part of the Rent Guarantee program, Users must agree to the Terms and Conditions outlined herein. In order to register for the Rent Guarantee Program, Users must agree to be bound to SingleKey’s Tenant Service Agreement, or Enhanced Tenant Screening Service Agreement, or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.   (iii) SingleKey Credit and Background Check Report RefundWhere a User orders a Report and later upgrades to the Rent Guarantee program, SingleKey reserves the right, in its sole discretion, to offer a full refund to the Landlord in the amount up to the full price paid by the User for the Report. A User is not entitled to any such refund unless such refund is approved by SingleKey in its sole discretion. (c) SingleKey Rent Collection Platform The Platform provides Users with access via a third-party pre-authorised debt and/or Interac E-transfer Request provider (a “3rd Party Payment Processor”) in connection to SingleKey’s rent collection services (“Rent Collection”) which facilitates the collection of rent for Landlords (as an optional feature), in accordance to the terms below. To engage with this feature, both payor and payee on the Platform must agree to sign and be subject to the terms and conditions outlined on the Pre-Authorised Debit Agreement. By “opting in” to using this service, both Payor and payee expressly consent to the terms and conditions governing the Rent Collection services accessible on the Site. Furthermore, Payor of the Pre-Authorised Debit transaction facilitated on the Site hereby agrees to allow SingleKey to use their account information to withdraw a specific rent amount from the account provided on a regular (monthly) basis for business purposes. Money is withdrawn and deposited into the Payee’s “designated account”. This service is offered in accordance with the Canadian Payment Association’s Pre-Authorized Debit Agreement, Rule H1 (Rule H1). Providing your banking information and completing the necessary forms through our Website will be viewed as meeting the necessary PAD terms. Their Payor or Payee may elect to terminate this service at any time. Users of the Rent Collection platform consent to the collection of personal information by SingleKey for several purposes including but not limited to maintaining and updating a credit report and for such information to be disclosed to other parties for the purpose of determining the suitability for tenancy, credit grantors assessing suitability for credit, and credit reporting agencies. Users understand that reporting will only be done where transactional proof is shown on the Rent Collection platform. Users acknowledge and understand that SingleKey cannot guarantee that certain information reported through our Rent Collection service will be used by reporting agencies, be reflected in a credit report or impact a credit score. As part of the process, individuals may be notified that they have been reported on. SingleKey may use a Third-Party Partner’s payment service, including that of a 3rd Party Payment Processor,  payment service to bill Users through an online account. By submitting payment account information, User grants SingleKey the right to store and process such information with the third-party payment service and agrees that SingleKey will not be responsible for any failures of the third-party payment service, including any failures to adequately protect such information. The processing of payments will be subject to the terms, conditions and privacy policies of such third-party payment service in addition to these Terms of Use. (i) Pre-Authorised Debit TermsThe Pre-Authorised Debit agreement is for business purposes due to the nature of the relationship between Landlord, Tenant, and SingleKey, an entity which operates a Platform that supports the onboarding and commencement of a residential tenancy transaction. The tenant User who is the payor (“Payor”) in the transaction grants authorization for SingleKey and the identified payment institution (“Processing Institution”) to process Pre-Authorised Debit payments to the recipient landlord User (“Payee”). Permission is provided in consideration of the Processing Institution agreeing to process debits for the identified account. The Payor hereby acknowledges that the delivery of this authorization to SingleKey constitutes authorization to the Processing Institution. The Payor authorizes SingleKey to withdraw on this account via its 3rd-Party Payment Processor for the purpose of withdrawing the rent amount agreed to between the Payor and Payee. The PAD transactions may be cancelled, provided that notice is received ten (10) business days before the next date of transaction. The Payor agrees to waive the pre-notification period for debits. SingleKey outsources processing of payment to an independent third-party SingleKey to fulfill the PAD transaction. The Payor undertakes to inform SingleKey or the Payee, in writing, of any change to their account information provided in the authorization agreement prior to the next due date of the PAD. The Payor hereby acknowledges his/her understanding, acceptance and participation in a PAD plan, that has certain recourse rights if any debit does not comply with the Terms of Use. For example, the Payor has the right to receive reimbursement for any transaction that is not authorized or is not consistent with this PAD Agreement. To obtain more information on the Payor’s recourse rights, the Payor may contact its financial institution, or visit www.cdnpay.ca. The Payor’s authorization will be given on the official PAD agreement, in the form of a signature, to enable SingleKey to take payments as per these Terms of Use. (ii) E-Transfer Request TermsIn the event the Landlord uses SingleKey’s Rent Collection platform and chooses to receive rental payments via Interac E-Transfer Payments from the Tenant, Tenants shall be sent an email request for e-Transfer payment via SingleKey’s Third-Party Payment Processor . To authorize the E-Transfer Request, Tenants are required to accept the Request by clicking the “accept” button in the email sent by Interac or SingleKey’s Third-Party Payment Processor. Failure to comply, or payments sent via any other methods or third-party payment processors not approved by SingleKey will not be honored, and may be lost at the Tenant’s expense. By accepting the E-Transfer request, the Tenant acknowledges, and irrevocably consents to sharing of payment history with various credit bureaus. Sharing of rental payment history may impact the Tenant’s credit score. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com. (d) SingleKey Tenant Guarantor (or Tenant Passport Program) SingleKey offers Tenant Users a Tenant Guarantor service, a tiered package of services enabling their rental journey (the “Tenant Passport Program”).  As part of the Tenant Passport Program, Users must agree to the terms and conditions of the SingleKey Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time. Tenants will use the Platform to complete an online application form for the Tenant Passport. Information in the form will be used to determine eligibility for the Tenant Passport program based on their qualifying criteria as a New Tenant, as outlined in the guarantee contract. Users hereby agree and acknowledge that SingleKey shall be entitled to charge Users of its Tenant Guarantor service: (i) upon submitting an application to the Tenant Passport Program, a processing fee (“Tenant Passport Processing Fee”) in connection to reviewing User’s application documents, verifying User’s references, and performing a complete tenant screening report on the tenant User; and (ii)  upon acceptance into the Tenant Passport Program, a program fee that is up to fifteen percent (15%) of the annual rent that shall be paid by Tenant to the Landlord for the rental property tenanted, the tenancy of which was facilitated or supported by the Tenant Passport Program in part or whole. Upon acceptance into the Tenant Passport Program, SingleKey will provide the Tenant with revocable permission to market themselves as a “guaranteed Tenant” to prospective landlords and property managers for the sole purpose of securing a rental property for themselves. Users hereby agree and acknowledge that SingleKey may revoke Tenant’s right or status as a “guaranteed Tenant” and the marketing and branding rights in connection thereto, for any reason in SingleKey’s sole discretion, including and not limited to reasons relating to fraud, submission of fraudulent documents, failure to pay fees in connection to the Tenant Passport Program, etc. The named Landlord or Property Manager User on the Tenant Passport Program will be the beneficiary of the enhanced Tenant Passport Program and shall be entitled to reimbursements as outlined in the terms of the Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s sole discretion from time to time. The Tenant Guarantor Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to establish a tenancy relationship between Tenant Users and Tenant Landlords utilizing the program, or establish any potential housing outcomes of a rental application. Users hereby agree and acknowledge that the Tenant Guarantor Program is only meant to support the process and Users may be declined for rent for any and all reasons by the Landlord. Users of SingleKey’s Tenant Guarantor Program hereby agree and acknowledge that SingleKey bears no responsibility or liability for any losses or damages arising from any results or outcomes of a rental application or from its Tenant Guarantor Program.  (e) SingleKey Rent Credit SingleKey’s Rent Credit services offer Tenant Users the opportunity to report their rental payments electronically to various Credit Bureaus, with the intention to help Tenant Users improve their credit ratings at the Credit Bureaus (the “Rent Credit Program”). Tenant Users will be asked to upload rental history documentation to the Platform, including but not limited to rent receipts, bank statements, and other proof of payments available at the time. Both on-time and late payments submitted to SingleKey may be reported to the credit bureaus. Tenant Users agree that they will upload all available information for a specific lease. The Rent Credit Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to increase Tenant Users’ credit scores. Credit scores are the proprietary property of their respective credit bureaus.By agreeing to T&C of Rent Credit, Users  consent to SingleKey providing information on Users’ rental payments to Equifax Canada, TransUnion Canada, Equifax USA, TransUnion USA, and/or Experian, and other relevant SingleKey third-party partners and suppliers. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com. (f) SingleKey Credit Health SingleKey’s Credit Health Program (“Credit Health”) offers Users the opportunity to track their credit score, monitor changes, spot potential issues, and understand opportunities to improve their creditworthiness by logging into the Platform and submitting requisite information onto the Platform. Credit Health data is provided by Equifax. For this reason, there may be variations between what users see in Credit Health versus what they see in other credit reports. Credit bureaus also use different credit models depending on the type of credit report run, so there may be variations between credit scores from the same credit bureau. Credit Health helps you dispute errors and fraud in your credit report. By agreeing to T&C of Credit Health, Tenant Users consent to SingleKey providing Equifax Canada the required User information for the User to access Equifax account and receive their credit information  from time to time. (g) SingleKey Electronic Leasing SingleKey offers Users the opportunity to sign residential leasing documents electronically.Users acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to use the Electronic Leasing tool and have conducted their own due diligence and enquiries before accepting these Terms of Use. SingleKey does not offer legal, paralegal, notary, or other related services, nor does it guarantee the enforceability of documents signed on its Platform. (h) SingleKey Referral Program SingleKey offers Users the opportunity to gain points and earn rewards, through its referral program (“Referral Program”). SingleKey reserves the right to modify, amend or terminate these Terms of Use and any rewards, in whole or in part, offered through the Referral Program, at any time for any reason. Users are bound by these Terms of Use and must meet certain criteria to participate in the Referral Program. Referrers are not permitted to participate in this referral program in jurisdictions in which such programs are prohibited by applicable laws or regulations. SingleKey reserves the right to disqualify any Users from participating in the Referral Program at any time in its sole discretion, including but not limited to cases where Users do not comply with any of these Terms of Use.  (i) How the Referral Program WorksTo participate in the program, existing Users shall send a referral link to a non-existing User. When the non-existing User (“Referee”) accepts the referral link (“Referral Link”) and creates an account on the Site, the referring User shall be deemed a referrer (“Referrer”) pursuant to the Referral Program. When the Referee makes a purchase through the Referral Link, the Referrer may be credited with one (1) reward in the form and value determined by SingleKey, in its sole discretion. The Referee will also receive a discount for using the Referral Link for their purchase. (ii) RewardsRewards granted by SingleKey as part of its Referral Program have no monetary value and may not be redeemed cash. Rewards are not transferable and may not be auctioned, traded, bartered, returned or sold. Upon termination of the Referral Program, in whole or in part, any unredeemed Reward is forfeited and cannot be claimed. The values reflected in a User’s account are the values that SingleKey shall act based on. All Rewards are issued at the discretion of SingleKey. (i) SingleKey Marketplace SingleKey offers the opportunity for Users to connect with select service providers available on SingleKey’s Marketplace. By agreeing to these T&C, Users hereby agree and acknowledge that SingleKey may use your personal information to contact you with information about special offers and rewards (this may include special offers of other carefully selected companies).  7. Accepting the Terms of Use and Additional Terms By accessing and using the Site in any manner, you acknowledge that you have read these Terms of Use and all of the terms and conditions contained herein.  Before continuing to use the Site, please read these Terms of Use and contact us if you have any questions. SingleKey reserves the right to amend, modify and supplement these Terms of Use from time to time as it sees fit with additional terms and conditions that govern certain information, content, products and services made available to you via the Site (“Additional Terms”).  By accessing and using the Site and the Platform, you accept and agree to comply with and be bound by such Additional Terms.  Please review these Terms of Use from time to time to ensure that you are aware of and understand any Additional Terms.  The Additional Terms and the Privacy Statement (located on the Site) are hereby incorporated by reference into these Terms of Use and form part of the legally binding agreement between you and us. To the extent that there is a conflict between these Terms of Use and any Additional Terms, the Additional Terms shall govern. These Terms of Use will remain in full force and effect as long as you are a user of the Site and, in the event of termination of any product, service or feature, you will still be bound by your obligations under these Terms of Use and the Privacy Statement, and any Additional Terms. 8. Click-Through Agreements Before you use certain areas of the Site, you may be asked to indicate your acceptance of certain special terms and conditions by clicking on a button marked “OK” or “I agree.” Any special terms and conditions to which you agree will supplement and amend these Terms of Use.   9. Links to Third-Party Sites Use of certain links on the Site will direct you away from the Site to third party websites. Such third party websites are not under the control of SingleKey, and SingleKey is not responsible for the contents of any such website or any link contained in such website. The third party links included on the Site are provided for your convenience, and the inclusion of such links does not imply a recommendation or endorsement by SingleKey of any such website or the products or services offered therein. 10. Privacy and Personal Information We may use your email address to verify your identity, protect against fraud, and contact you. In addition, we may use it to send you updates about your user account, new products and services, and Site updates. Personal information submitted by users to the Site may be employed for the purposes of maintaining the integrity of the Site and its contents, contacting our users when necessary, and improving the quality of service provided by the Site. SingleKey servers also collect information specific to how you use the Internet. SingleKey servers note details such as the server you are logged onto and your IP address. This information is obtained solely for the purpose of maintaining the Site’s integrity and improving our service. SingleKey may ask you for more personal information from time to time in a survey format. This information is specifically used to ensure that the Site is up-to-date and relevant, and that the products and services provided to you in advertising format are relevant and of interest to you. Any information used as demographics will not reveal the source, and will be kept secure. This further information provided by you is on an optional basis. SingleKey will employ a data measurement service for tracking the performance of an ad on behalf of the advertiser. The information collected will not contain personal elements, and will only be shared with that particular advertiser. SingleKey reserves the right to disclose your personally identifiable information as required by law and when we believe that disclosure is necessary to protect our rights and/or comply with a judicial proceeding, court order, or legal process served on our Site(s); or to protect our SingleKey and our Users. While we make every effort to ensure the integrity and security of our network and systems, we cannot guarantee that our security measures will prevent third-party “hackers” from illegally obtaining this information. For more information about SingleKey’s treatment and protection of personal information, please read our privacy policy at www.singlekey.com/en-ca/privacy-policy. This policy explains how SingleKey treats your personal information, and protects your privacy, when you use the Site. Questions or requests with respect to your personal information may be sent via email to info@singlekey.com. 11. Ownership of Intellectual Property Rights The Site together with all trade-marks and other intellectual property displayed, distributed, or otherwise made available via the Site, including and not limited to any Content, data, materials, information, tools, database rights, patents, copyrights, trademarks (whether registered or unregistered), trade secrets, design rights (whether registered or unregistered) know-how, mask works, moral rights, and all similar rights that may exist now or later in any jurisdiction, including without limitation any applications and registrations for the foregoing, and the SingleKey name, logos, designs, domain names, graphics, icons, scripts, service marks, features, functions, text, graphics, button icons, scripts, service marks, images, software, data compilations and other distinctive brand features, and the compilation and organization thereof (collectively, “Intellectual Property”) is the exclusive property of SingleKey, and its successors, assigns, licensors, and/or suppliers. Unless you have agreed otherwise in writing with SingleKey, nothing in these Terms of Use gives you a right to use any of the Intellectual Property. You may not assign or transfer any of the Intellectual Property and you may not grant a license to use or access the Site to any party. You may use the Site and the Contents solely for your non-commercial and limited personal use and for no other purposes.  No information or statement contained in these Terms of Use or the Site shall be construed as conferring, directly or by implication, estoppel or otherwise, any license or right under any patent, copyright, trade-mark, or other intellectual property right of SingleKey or any third party.  You must not alter, delete, or conceal any copyright or other notices contained on the Site, including notices on any of the Contents that you are permitted to download, transmit, display, print, or reproduce from the Site. You may not allow any third party (whether or not for your benefit) to reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party (including, without limitation, on or via a third party website), or otherwise use, any Contents without the express prior written consent of SingleKey or its owner if SingleKey is not the owner.  Any unauthorized or prohibited use of any Contents may subject you to civil liability, criminal prosecution, or both, under applicable federal, provincial, state and local laws.  You may not create a link to the Site without SingleKey’s prior permission.  We may, however, if requested, grant a limited, nonexclusive right to create a link to the Site provided that such link is to the entry page of the Site and does not portray SingleKey or any of its activities or services in a false, misleading, derogatory, or otherwise negative manner.  The limited rights granted to you under these Terms of Use may be revoked by SingleKey at any time for any reason whatsoever.  Links to third party websites on the Site are provided solely as a convenience to you. If you use these links, you will leave the Site.  SingleKey does not control and is not responsible for any of such third party websites, their content or their policies, including, without limitation, privacy policies or lack thereof. SingleKey does not endorse or make any representations about such third party websites or any information, software, products and services located there, or any results that may be obtained from using such software, products and services.  If you decide to access any of the third party websites linked to the Site, you do so entirely at your own risk.  You acknowledge and agree that SingleKey shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with the use of or reliance on any such third party websites.   12. Intellectual Property Infringement We take intellectual property rights, both our own and others, very seriously.If you are an owner of intellectual property (or the owner’s authorized agent) and believe that any of the Contents or the Site infringes your intellectual property, please notify us using the following procedure:Please send a written notice of intellectual property infringement to info@singlekey.com.In your written notice, please provide the following information:Identification of the intellectual property claimed to have been infringed;Identification of the Contents that you claim are infringing your intellectual property;Information sufficient to permit us to contact you, such as an address, telephone number, and, if available, an electronic mail address at which you may be contacted;A statement that you believe that use of the Contents in the manner complained of is not authorized by the owner, its agent, or the law; andA statement that the information in the notification is accurate, and under penalty of perjury, that you are the owner or are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed. 13. Third-Party Information Any third-party content, data or publications made available through the Site are furnished by SingleKey on an as-is basis for your convenience and information. Any opinions, advice, statements, services, offers, or other information made available by third parties, including program hosts, information providers, or any user of the Site, are those of the respective author(s) or publisher(s) and not of SingleKey. SINGLEKEY DISCLAIMS ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, THAT THE INFORMATION IN SUCH PUBLICATIONS IS ACCURATE OR COMPLETE. 14. No Warranty YOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SITE IS AT YOUR SOLE RISK AND THAT THE SITE AND THE CONTENTS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”IN PARTICULAR, SINGLEKEY AND ITS LICENSORS DO NOT REPRESENT OR WARRANT TO YOU THAT: (a) YOUR USE OF THE SITE WILL MEET YOUR REQUIREMENTS, (b) YOUR USE OF THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE OR FREE FROM ERROR, (c) ANY INFORMATION OBTAINED BY YOU AS A RESULT OF YOUR USE OF THE SITE WILL BE ACCURATE OR RELIABLE, AND (d) THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF ANY SOFTWARE PROVIDED TO YOU AS PART OF THE SITE WILL BE CORRECTED. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL.NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM SINGLEKEY OR THROUGH OR FROM THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS OF USE.SINGLEKEY FURTHER EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. 15. Limitation of Liability SUBJECT TO SECTION 14 ABOVE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT SINGLEKEY, AND ITS LICENSORS SHALL NOT BE LIABLE TO YOU FOR: (a) ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOSS OF GOODWILL OR BUSINESS REPUTATION, LOSS OF DATA SUFFERED, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR OTHER INTANGIBLE LOSS; AND(b) ANY LOSS OR DAMAGE WHICH MAY BE INCURRED BY YOU, INCLUDING BUT NOT LIMITED TO LOSS OR DAMAGE AS A RESULT OF: (i) ANY RELIANCE PLACED BY YOU ON THE COMPLETENESS, ACCURACY OR EXISTENCE OF ANY ADVERTISING, OR AS A RESULT OF ANY RELATIONSHIP OR TRANSACTION BETWEEN YOU AND ANY ADVERTISER OR SPONSOR WHOSE ADVERTISING APPEARS ON THE SITE;(ii) ANY CHANGES WHICH SINGLEKEY MAY MAKE TO THE SITE, OR FOR ANY PERMANENT OR TEMPORARY CESSATION IN THE PROVISION OF THE SITE (OR ANY FEATURES WITHIN THE SITE);(iii) THE DELETION OF, CORRUPTION OF, OR FAILURE TO STORE, ANY USER CONTENT AND OTHER COMMUNICATIONS DATA MAINTAINED OR TRANSMITTED BY OR THROUGH YOUR USE OF THE SITE;(iv) YOUR FAILURE TO PROVIDE SINGLEKEY WITH ACCURATE ACCOUNT INFORMATION;(iv) YOUR FAILURE TO KEEP YOUR PASSWORD OR ACCOUNT DETAILS SECURE AND CONFIDENTIAL. THE LIMITATIONS ON SINGLEKEY’S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT SINGLEKEY HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING. 16. Disclaimers SingleKey informs Users of the following disclaimers: Users recognise that SingleKey receives information included in the Reports from independent third parties that are outside of the control of SingleKey. SingleKey is not responsible for the contents incorporated within the Report whether correct or incorrect. Should discrepancies arise, Users have the right to raise a dispute through the Third-Party Agency themselves. Users agree to give up the right to raise such a dispute with SingleKey and thus hold SingleKey harmless and not liable for such incorrect information. The Report should not be the sole basis for any decision by any User. Users should consider other factors that a reasonable decision-maker in a similar situation would take into account. It is recommended that Users not assume a result or finding based solely on a Report. SingleKey does not represent that the Report is identical or similar to any other credit score, rating model or evaluation tool. The credit information contained in the credit report aspect of the SingleKey Credit and Background Check Report is a reflection of the latest data available to Third Party credit reporting agencies. Therefore, certain transactions or recent charges made that may affect the relevant credit score may not be made immediately available because a credit score is subject to change. Criminal record aspect of our Report is data provided by a Third-Party reporting agency and may not be available for all applicants or at all times for various reasons, including reasons beyond our control (ie: User input error). We are not a government agency and do not control or verify the contents of criminal record reports or motor vehicle reports, including reports obtained through the Service. We are not responsible for the contents of any criminal record report or motor vehicle report, whether correct or incorrect. Thus, you agree to hold SingleKey harmless for any harm arising or that may arise from your reliance on a Report. SingleKey does not warrant that their services will be carried out without interruption or errors. If a Report contains incorrect scores, SingleKey’s sole duty to the Landlord in such cases will be to reproduce a new report or, should the error be unresolvable, issue a partial or full refund for the Report (at the discretion of SingleKey). SingleKey is not responsible under any circumstances for carrying out any vetting process or other form of check on a Landlord. SingleKey is not responsible for any transaction between Tenant and Landlord or any unfavourable outcome that may arise. SingleKey does not make any representations, warranties or guarantees other than those expressly set out in these Terms and Conditions. SingleKey is not to be held responsible for the fulfillment of the terms and conditions of the Rental Guarantee Program. SingleKey is not responsible for any loss or damage caused, as a result of the failure of a score used to accurately predict the potential worthiness of an individual. 17. Termination We may terminate your use of the Site and/or access to the Contents, features, functionality, products and services made available in connection therewith, at any time and for any reason, with or without cause, without prior notice to you and without any liability or further obligation of any kind whatsoever to you or any other party. If you want to terminate your account with SingleKey, you may do so by closing your account, where SingleKey has made this option available to you. SingleKey may at any time, terminate your use of the Site if: (a) you have breached any provision of these Terms of Use (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of the Terms of Use); (b) SingleKey is required to do so by law (for example, where the provision of the Site to you is, or becomes, unlawful); (c) the Third-Party Partner with whom or through whom SingleKey offered the services to you has terminated its relationship with SingleKey or ceased to offer the services to you; (d) SingleKey is transitioning to no longer providing the Site to users in the country in which you are resident or from which you use the Site; or(e) the provision of the Site to you by SingleKey is, in SingleKey’s opinion, no longer commercially viable. When these Terms of Use come to an end, all of the legal rights, obligations and liabilities that you and SingleKey have benefited from, been subject to (or which have accrued over time while the Terms of Use have been in force) or which are expressed to continue indefinitely, shall be unaffected by such termination. 18. Indemnification You agree to indemnify, defend, and hold harmless SingleKey and its successors and assigns, and any of their respective officers, directors, employees, Users, agents, representatives, licensors, advertisers, and suppliers from any liability, loss, claim, and expense (including reasonable legal fees) related to (a) your violation of these Terms of Use; (b) your use of the Site; (c) SingleKey acting in accordance of a Landlord User’s instructions; (d) non-payment of rent by a Tenant User; (e) non-payment or delay of payment by Payor for any reason whatsoever; and (f) any breach of representations, warranties, or covenants herein by User. This provision shall survive the termination of (a) User’s use of the Site or User’s account; or (b)  the termination of User’s relationship with SingleKey.  We reserve the right to assume, at our sole expense, the exclusive defense and control of any such claim or action and all negotiations for settlement, or compromise, and you agree to fully cooperate with us in the defense of any such claim, action, settlement or compromise negotiations, as we may request.  19. General These Terms of Use, together with any Additional Terms, the Privacy Statement and the Copyright Statement constitute the entire agreement between you and SingleKey relating to your use and our provision of the Site.  You agree that SingleKey may provide you with notices, including those regarding changes to these Terms of Use, by email, regular mail, or postings on the Site. You agree that if SingleKey does not exercise or enforce any legal right or remedy which is contained in these Terms of Use (or which SingleKey has the benefit of under any applicable law), this will not be taken to be a formal waiver of SingleKey’s rights and that those rights or remedies will still be available to SingleKey. If any provision of these Terms of Use is held to be illegal, invalid or unenforceable, this will not affect any other provision of these Terms of Use and the agreement between you and us will be deemed amended to the extent necessary to make it legal, valid, and enforceable.  The laws of the Province of Ontario and the federal laws applicable therein shall govern these Terms of Use in all respects, without giving effect to conflicts of laws principles. 20. Obtaining SINGLEKEY’s Consent To request the consent of SingleKey for any of the actions for which such consent is required under these Terms of Use, please send an e-mail to info@singlekey.ca. SingleKey reserves the right to refuse any such requests in its sole discretion. Terms of Use Published on Oct 18, 2021 | Updated on Mar 10, 2025 1. IntroductionThe following terms and conditions are the Terms of Use for our website and platform located at: www.singlekey.com (the “Site”) made available by SingleKey Inc., including its affiliates and any other wholly owned subsidiaries  (“SingleKey”, “SingleKey”, “we”, “us” or “our”).The purpose of the Site is to provide users (“User(s)” or “you”) with a technology platform (“Platform”) that facilitates communication between landlords and tenants, and facilitates access to landlord and tenant related products and services as may be available from time to time, provided by our partners and suppliers, including and not limited to: prescreening, application and screening,  leased property information, electronic lease execution, rental collection, rent guarantee services, rent reporting, credit monitoring, and other information, products, and services relating to SingleKey’s mission, approach and initiatives (“Platform Services”). The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork, graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or we explicitly say so in writing, the term “Site” includes all of the Contents. These Terms of Use constitute a legally binding agreement between you and SingleKey regarding your use of and access to the Site. These Terms of Use do not alter in any way the terms and conditions of any other agreement you may have with SingleKey, unless otherwise agreed to in writing by SingleKey. If you breach any of these Terms of Use, your authorization to use the Site automatically terminates and you must immediately destroy any Contents in your possession and discontinue all use of the Site.2. Provision of the Site by SINGLEKEYYou acknowledge and agree that the form and nature of the Site may change from time to time without prior notice to you.You acknowledge and agree that SingleKey may stop (permanently or temporarily) providing the Site, Platform, Platform Services, or any features within the Site to you or to users generally, at SingleKey’s sole discretion, without prior notice to you. You may stop using the Site at any time. You do not need to inform SingleKey when you stop using the Site or any of its features.You acknowledge and agree that if SingleKey disables access to your account, you may be prevented from accessing the Site, your account details or any files or other content which is contained in your account.3. Use of the Site by YouYour use of the Site is subject to all applicable local, provincial, state and federal laws and regulations. You may not use, allow, or enable others to use the Site, or knowingly condone use of the Site by others, in any manner that is, attempts to, or is likely to:be obscene, fraudulent, defamatory, libelous, indecent, discourteous, racially or ethnically offensive, harassing, threatening, abusive, pornographic or discriminatory;affect us adversely or reflect negatively on us, the Site, our goodwill, name or reputation or cause duress, distress, or discomfort to us or anyone else, or discourage any person, firm, or enterprise from using all or any portion, features, or functions of the Site, or from advertising, linking, or becoming a supplier to us in connection with the Site;send or result in the transmission of junk e-mail, chain letters, duplicative or unsolicited messages, or so-called “spamming” and “phishing”;transmit, distribute, or upload content or programs that contain any viruses, Trojan horses, worms or other disabling devices or harmful components intended to damage, detrimentally interfere with, surreptitiously intercept, or expropriate any system, data or personal information;modify, disrupt, impair, alter, or interfere with the use, features, functions, operation, or maintenance of the Site or the rights or use and enjoyment of the Site by any other user;advocate or encourage any illegal activity;infringe upon or misappropriate the copyright, patent, trademark, trade secret, publicity rights or other intellectual property or proprietary rights of SingleKey or any third party;violate the privacy of any individual, including users of the Site; orviolate any applicable local, provincial, state or national laws or regulations (anywhere in the world). Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not: reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose;send commercial electronic messages;collect, use, or disclose personal information in violation of applicable privacy legislation in the jurisdiction in which the content is posted or viewed; oruse or attempt to use the Site for advertising or promotional purposes related to any business you conduct commercially, nor shall you solicit, invite or accept any commercial offers made available via the Site;In order to access certain products and services on the Site or as part of the account registration process, you are required to provide information about yourself (such as identification or contact details). You agree that any registration information you give to SingleKey will always be accurate, correct and up to date. You may be requested by SingleKey to update this information from time to time, at SingleKey’s discretion.Unless you have been specifically permitted to do so in a separate agreement with SingleKey, you agree that you will not reproduce, duplicate, copy, sell, trade or resell the Contents or any SingleKey products and services for any purpose.You agree that you are solely responsible for (and that SingleKey has no responsibility to you or to any third party for) any breach of your obligations under these Terms of Use and for the consequences (including any loss or damage which SingleKey may suffer) of any such breach.4. Account RegistrationIn order to access certain products and services on the Site you will be required to register as a User. As part of the account registration process, you may be required to provide information about yourself (such as government issued identification or contact details). You agree that any registration information you give to SINGLEKEY will always be accurate, correct and up to date. Before your account is created, SingleKey shall have the right to verify your personal information to ensure that its Site is being used for permissible purposes. SingleKey reserves the right to request any additional documentation or information from you prior to accepting your account registration. You must not register an account on the Site in a name other than a name legally recognised as being your real name. You also agree that you will be the only authorized user of the Site under these Terms of Use and will be solely responsible for the confidentiality of any user name and password supplied by you or provided to you. Should you become aware of any unauthorized use of your username or password with respect to any activity on the Site, you must immediately notify us via email or otherwise in writing. Upon receipt of such notice, we will take reasonable steps to stop any activity using your username or password, but neither SingleKey, nor any of its respective directors, officers, employees, agents, representatives or affiliates can or will have any responsibility or liability to any person whose claim may arise for any claims with respect to the handling or mishandling of any transaction on the Site resulting from the unauthorized use of your username or password.In using the Site and operating a User account, you warrant, represent and undertake that:you will be the only person who will use the Site using your account, and that you will not allow any other person, whether or not acting under your instructions, to use your account for any reason, and will actively take steps to prevent any other person to do such, and that in the event any other person uses your account, you are to be held responsible for any losses and damages caused as a result of that use;you will not use the account of any other person for any purpose;you will keep confidential any information you obtain that relates to any other User, including actual names and addresses of other Users, and will not publish or reproduce such information in any form, including without limitation on the Site, or on any external websites unaffiliated with SingleKey or in any print medium, without the prior written permission of the relevant User and SingleKey;you acknowledge that SingleKey is not liable for any breach of these Terms of Use by any other User or otherwise in relation to transactions carried out by means of the Site; andSINGLEKEY is not responsible for any losses you incur due to informational or technical errors in the account registration process, and will not be liable for any loss or damage you incur as a result of an unauthorised person using your account, including the use of any personal details you provide in the account registration process. you shall not: (a) transmit data that is illegal, harmful, threatening, insulting, disturbing, injurious, obscene, defamatory, unacceptable from a racial or ethnic perspective; (b) violate any of SingleKey’s intellectual property rights; (c) unlawfully gather information about others; (d) use any information obtained from the Site in order to harass, abuse, or harm another person; (e) attempt to impersonate another User or person or use the username of another User; (f) publish or otherwise transmit any malicious software or other computer codes, files or programs designed to interrupt, disrupt or restrict the operation of the Site, the Platform, Platform Services, our computer software, hardware, telecommunications equipment or to disrupt the normal transactions onto the Site or Platform; (g) use any robot, spider, offline reader, site search, retrieval application or other manual or automatic device or process to retrieve, index, data mine or in any way reproduce or circumvent the structure or presentation of the Site, its contents, or any processed data; (h) make improper use of our support services, submit false requests, or make any speculative or fraudulent background request orders; (i) modify, adapt, sub-license, “frame”, “mirror”, translate, sell, reverse engineer, decompile or disassemble any portion of the Site or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Site, Platform, or Platform Services thereto; (j) use, or attempt to use, the Site for unauthorized purposes; (k) use the Site for the benefit of any third party without SingleKey’s prior written permission; (l) create derivative works based on the Site or use the Site, Platform, and/or Platform Services to develop a competitive product offering; or (m) modify, remove, or obscure any copyright, trademark, patent or other notices or legends that appear on the Site and/or Platform.5. Submission of ContentThe Site encourages submissions to the Site by its Users to access certain products and services. You acknowledge and agree that if you submit any information, including text, images, documents, other media, or any other material you make available to the Site, whether by posting, uploading, displaying, performing, transmitting or otherwise, or which you otherwise provide to SingleKey in respect of your use of the Site (“User Content”) you will be solely responsible for such User Content. SingleKey will not be liable in any way for any such User Content submitted. You further agree that you will not:submit any User Content which is harassing, abusive, threatening, harmful, libelous or defamatory, encourages conduct that could constitute a criminal offense or give rise to civil liabilities, or is unlawful in any other way.submit any User Content protected by intellectual property laws or by rights of privacy, unless you own the rights thereto or have received all necessary consents. You shall be solely liable for any damage resulting from any infringement of copyright, trademark or other proprietary rights;submit any User Content which contains a virus or other harmful components;engage in activity that interferes with or disrupts the use of the Site by other users;submit any User Content that encourages any illegal activities, or provides guidance or instructional activities about such illegal activities;make any false representation, including impersonation of any person or entity or misrepresentation of your affiliation with any person or entity; ormake use of any User Content for commercial purposes, such as advertising any products or services, reselling or publishing the information posted or transmitted.You represent and warrant that: (i) you own the User Content posted by you on or through the Site or otherwise have the right to grant the rights and licenses set forth in these Terms of Use; (ii) the posting and use of User Content on or through the Site does not violate, misappropriate or infringe on the rights of any third party, including, without limitation, privacy rights, publicity rights, copyrights, trademark and/or other intellectual property rights; (iii) you agree to pay for all royalties, fees, and any other monies owed by reason of User Content you post on or through the Site; and (iv) you have the legal right and capacity to enter into these Terms of Use in your jurisdiction.SingleKey does not pre-screen, monitor or edit the User Content posted or submitted to the Site. However, SingleKey reserves the right to edit, limit or remove any such User Content in its sole discretion. Notwithstanding, you shall remain solely responsible for any User Content you submit or post.When participating in, accessing, or viewing any posted User Content on the Site, you may be exposed to User Content that is inaccurate, incomplete or unsuitable. Please notify SingleKey (with the contact information posted at the bottom of this document) of any illegal or inappropriate User Content, and SingleKey will take appropriate action. SingleKey will ensure that any offending comments are removed, and take appropriate action against the offender. SingleKey will not be responsible for the User Content or accuracy of any information, and shall not be responsible for any acts taken or decisions made based on such information.SingleKey may establish procedures and practices relating to the use of and participation in the Site. Such procedures and practices may include limitations on the number of entries and the size of files that may be submitted, limitations on the number and type of User Content submitted at any given time and the number of days content will be saved before deletion. SingleKey will not be responsible for any User Content deleted by SingleKey or otherwise, or for your inability to submit any User Content.You hereby grant SingleKey a perpetual, worldwide, royalty-free, transferable, sub-licensable right to use, copy, distribute, transmit, display, communicate to other Users, reproduce, edit, translate and reformat the User Content in connection with the operation of the Site, Platform and Platform Services, except as otherwise limited by the Privacy Policy.6. Accessing Various Functions on SingleKey Platform SingleKey’s Site and Platform provides Users access to a variety of products and services that are created, offered, supported and maintained by third-parties (“Third-Party Partners”) unaffiliated with SingleKey, including and not limited to Certn, Equifax, Transunion, and other vendors, suppliers, and entities that have established a business or contractual relationship with SingleKey. Notwithstanding anything to the contrary in these Terms of Use, you acknowledge and agree that: (a) you access or deploy Platform Services which may be, in whole or in part, created, offered, supported and maintained by Third-Party Partners (“Third-Party Services”), at your sole discretion; (b) you shall read and abide by these Terms of Use in addition to any terms and conditions and privacy policies associated with any Third-Party Services which govern your use of such Third-Party Services; (c) SingleKey does not own or control Third-Party Partners or Third-Party Services; (d) SingleKey does not in any way warrant the accuracy, reliability, security, completeness, usefulness, non-infringement, or quality of any Third-Party Services; and (e) you bear all risks associated with using or relying on Third-Party Services.     (a) SingleKey Tenant Screening ReportSingleKey’s Tenant Screening Report (the “Report”) contains a compilation of User Content as well as data from third-party reporting agencies (including, but not specifically limited to personal information, credit information and history, education and employment information, and background check information provided and generated by credit bureaus, government agencies, police agencies, news publications, public court databases and other third-party sources (“Report Data”). Users hereby agree and acknowledge that the Platform solely provides and facilitates Users with access to the Report Data and all such Report Data is sourced and generated by SingleKey’s Third Party Partners who are reporting agencies, and not by SingleKey. Additionally, the User understands that the court document scan included in the Report is a scan of publicly available records only and is not a representation of official RCMP or FBI police clearance reports or local court record check. Users hereby agree and acknowledge that ordering a Report on a tenant applicant does appear as an inquiry on the tenant applicant’s credit file, however, it does not have a significant impact on the applicant’s credit score.    (i) Enter Tenant InformationA User who is a landlord (“Landlord”) is required to obtain written consent from SingleKey before being able to order a Report on the Site. By selecting “YES” (or similar) for a Report on the Site, Landlord hereby provides SingleKey with express and irrevocable consent: a) to SingleKey to make requests to the relevant third-parties to generate the Report Data; b) to SingleKey’s third-party providers to generate the Report Data and provide the same to SingleKey, to be shared in the Report to Landlord; and c) to pay SingleKey the fees associated with access to the Report on the Site as further detailed in subsection 6(a)(iii) herein.  Should a Landlord fail to provide SingleKey with written or other sufficient proof that Landlord has obtained the necessary consent from the tenant to enable Report Data to be generated by SingleKey’s third-party providers, or any other documents requested by SingleKey at the time in which a Report is requested by Landlord, SingleKey maintains the right to block, or un-verify Landlord’s User account.    (ii) Invite TenantIf an individual or User who is a prospective tenant (“Tenant”) submits User Content to SingleKey via the  “Invite Tenant” method or link, such submission shall be deemed as an act of Tenant providing SingleKey with express consent to incorporate the User Content in the Report, to request the relevant Third-Party Partner to generate further Report Data with respect to the Tenant, and to enable the relevant Landlord(s) reviewing the Tenant’s application access to the Report on the Site.           (iii) Final ProductPayment is required to process and complete an applicant’s request for a Report. All payments are made through a third party processor. Any report purchased by a User will remain in the Users account for up to ninety (90) days. After ninety (90) days, the report will be removed from the Account. Should a User need to access an old report, please contact info@singlekey.com. The Report is available for viewing through the User’s Account on the Site. The Tenant also hereby grants SingleKey, the Landlord, Landlord’s agent, representative or property manager, express but revocable permission to view Tenant’s Report and perform any due diligence necessary (at their discretion), including but not limited to pulling a full credit report from one or multiple credit bureaus, contacting references, or verifying proof of income. By providing consent, potential applicants authorize SingleKey, and SingleKey’s Third-Party Partner reporting agency to access personal information to generate a Report. The applicant consents to the use, collection and controlled disclosure of their personal information including rental, court, employment, banking and financial history in accordance with SingleKey’s Privacy Policy. Any misrepresentation constitutes valid legal grounds for rejection of a Tenant’s application by either a Landlord or SingleKey.    (b) SingleKey Rent Guarantee Program    (i) Rent Guarantee EnrollmentIn order to access Rent Guarantee services provided by SingleKey’s third-party insurance partners, User must be subscribed to or have purchased any of the following: (a) SingleKey’s Tenant Screening Report services; (b) SingleKey’s online rent collection services; (c) electronic leasing services; and/or (d) any other products or services SingleKey may offer.     (ii) SingleKey – Landlord RelationshipUsers hereby acknowledge and understand that SingleKey’s role is to onboard and support Users. The scope of SingleKey’s obligation to Users are limited to providing User with customer service, customer onboarding, providing access to a Report, supporting User in the collection and submission of all required documents to a third-party underwriter for the purposes of accessing Rent Collection services on the Platform as provided by SingleKey’s third-party providers. Users hereby waive and release SingleKey of any and all rights they may have in regard to SingleKey at law or in equity to any action of any kind in respect of the Tenant Service Agreement, Rent Payment Contract Bond,  Enhanced Tenant Screening Service Guarantee Agreement, Enhanced Tenant Passport Screening Service Guarantee Agreement, or any other agreements between the Principal and the landlord. Users also acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to be subject to the SingleKey Tenant Screening service or the SingleKey Rental Guarantee Program, and have conducted their own due diligence and enquiries before accepting these terms.As part of the Rent Guarantee program, Users must agree to the Terms and Conditions outlined herein. In order to register for the Rent Guarantee Program, Users must agree to be bound to SingleKey’s Tenant Service Agreement, or Enhanced Tenant Screening Service Agreement, or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.      (iii) SingleKey Credit and Background Check Report RefundWhere a User orders a Report and later upgrades to the Rent Guarantee program, SingleKey reserves the right, in its sole discretion, to offer a full refund to the Landlord in the amount up to the full price paid by the User for the Report. A User is not entitled to any such refund unless such refund is approved by SingleKey in its sole discretion.    (c) SingleKey Rent Collection PlatformThe Platform provides Users with access via a third-party pre-authorised debt and/or Interac E-transfer Request provider (a “3rd Party Payment Processor”) in connection to SingleKey’s rent collection services (“Rent Collection”) which facilitates the collection of rent for Landlords (as an optional feature), in accordance to the terms below. To engage with this feature, both payor and payee on the Platform must agree to sign and be subject to the terms and conditions outlined on the Pre-Authorised Debit Agreement. By “opting in” to using this service, both Payor and payee expressly consent to the terms and conditions governing the Rent Collection services accessible on the Site. Furthermore, Payor of the Pre-Authorised Debit transaction facilitated on the Site hereby agrees to allow SingleKey to use their account information to withdraw a specific rent amount from the account provided on a regular (monthly) basis for business purposes. Money is withdrawn and deposited into the Payee’s “designated account”. This service is offered in accordance with the Canadian Payment Association’s Pre-Authorized Debit Agreement, Rule H1 (Rule H1). Providing your banking information and completing the necessary forms through our Website will be viewed as meeting the necessary PAD terms. Their Payor or Payee may elect to terminate this service at any time.Users of the Rent Collection platform consent to the collection of personal information by SingleKey for several purposes including but not limited to maintaining and updating a credit report and for such information to be disclosed to other parties for the purpose of determining the suitability for tenancy, credit grantors assessing suitability for credit, and credit reporting agencies. Users understand that reporting will only be done where transactional proof is shown on the Rent Collection platform. Users acknowledge and understand that SingleKey cannot guarantee that certain information reported through our Rent Collection service will be used by reporting agencies, be reflected in a credit report or impact a credit score. As part of the process, individuals may be notified that they have been reported on.SingleKey may use a Third-Party Partner’s payment service, including that of a 3rd Party Payment Processor,  payment service to bill Users through an online account. By submitting payment account information, User grants SingleKey the right to store and process such information with the third-party payment service and agrees that SingleKey will not be responsible for any failures of the third-party payment service, including any failures to adequately protect such information. The processing of payments will be subject to the terms, conditions and privacy policies of such third-party payment service in addition to these Terms of Use.    (i) Pre-Authorised Debit TermsThe Pre-Authorised Debit agreement is for business purposes due to the nature of the relationship between Landlord, Tenant, and SingleKey, an entity which operates a Platform that supports the onboarding and commencement of a residential tenancy transaction. The tenant User who is the payor (“Payor”) in the transaction grants authorization for SingleKey and the identified payment institution (“Processing Institution”) to process Pre-Authorised Debit payments to the recipient landlord User (“Payee”). Permission is provided in consideration of the Processing Institution agreeing to process debits for the identified account. The Payor hereby acknowledges that the delivery of this authorization to SingleKey constitutes authorization to the Processing Institution. The Payor authorizes SingleKey to withdraw on this account via its 3rd-Party Payment Processor for the purpose of withdrawing the rent amount agreed to between the Payor and Payee. The PAD transactions may be cancelled, provided that notice is received ten (10) business days before the next date of transaction. The Payor agrees to waive the pre-notification period for debits. SingleKey outsources processing of payment to an independent third-party SingleKey to fulfill the PAD transaction. The Payor undertakes to inform SingleKey or the Payee, in writing, of any change to their account information provided in the authorization agreement prior to the next due date of the PAD. The Payor hereby acknowledges his/her understanding, acceptance and participation in a PAD plan, that has certain recourse rights if any debit does not comply with the Terms of Use. For example, the Payor has the right to receive reimbursement for any transaction that is not authorized or is not consistent with this PAD Agreement. To obtain more information on the Payor’s recourse rights, the Payor may contact its financial institution, or visit www.cdnpay.ca. The Payor’s authorization will be given on the official PAD agreement, in the form of a signature, to enable SingleKey to take payments as per these Terms of Use.    (ii) E-Transfer Request TermsIn the event the Landlord uses SingleKey’s Rent Collection platform and chooses to receive rental payments via Interac E-Transfer Payments from the Tenant, Tenants shall be sent an email request for e-Transfer payment via SingleKey’s Third-Party Payment Processor . To authorize the E-Transfer Request, Tenants are required to accept the Request by clicking the “accept” button in the email sent by Interac or SingleKey’s Third-Party Payment Processor. Failure to comply, or payments sent via any other methods or third-party payment processors not approved by SingleKey will not be honored, and may be lost at the Tenant’s expense.By accepting the E-Transfer request, the Tenant acknowledges, and irrevocably consents to sharing of payment history with various credit bureaus. Sharing of rental payment history may impact the Tenant’s credit score. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com.    (d) SingleKey Tenant Guarantor (or Tenant Passport Program)SingleKey offers Tenant Users a Tenant Guarantor service, a tiered package of services enabling their rental journey (the “Tenant Passport Program”). As part of the Tenant Passport Program, Users must agree to the terms and conditions of the SingleKey Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s discretion from time to time.Tenants will use the Platform to complete an online application form for the Tenant Passport.Information in the form will be used to determine eligibility for the Tenant Passport program based on their qualifying criteria as a New Tenant, as outlined in the guarantee contract.Users hereby agree and acknowledge that SingleKey shall be entitled to charge Users of its Tenant Guarantor service: (i) upon submitting an application to the Tenant Passport Program, a processing fee (“Tenant Passport Processing Fee”) in connection to reviewing User’s application documents, verifying User’s references, and performing a complete tenant screening report on the tenant User; and (ii)  upon acceptance into the Tenant Passport Program, a program fee that is up to fifteen percent (15%) of the annual rent that shall be paid by Tenant to the Landlord for the rental property tenanted, the tenancy of which was facilitated or supported by the Tenant Passport Program in part or whole.Upon acceptance into the Tenant Passport Program, SingleKey will provide the Tenant with revocable permission to market themselves as a “guaranteed Tenant” to prospective landlords and property managers for the sole purpose of securing a rental property for themselves. Users hereby agree and acknowledge that SingleKey may revoke Tenant’s right or status as a “guaranteed Tenant” and the marketing and branding rights in connection thereto, for any reason in SingleKey’s sole discretion, including and not limited to reasons relating to fraud, submission of fraudulent documents, failure to pay fees in connection to the Tenant Passport Program, etc.The named Landlord or Property Manager User on the Tenant Passport Program will be the beneficiary of the enhanced Tenant Passport Program and shall be entitled to reimbursements as outlined in the terms of the Tenant Guarantor Agreement or any other agreement underlying the Rent Guarantee Program, as may be updated at SingleKey’s sole discretion from time to time.  The Tenant Guarantor Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to establish a tenancy relationship between Tenant Users and Tenant Landlords utilizing the program, or establish any potential housing outcomes of a rental application. Users hereby agree and acknowledge that the Tenant Guarantor Program is only meant to support the process and Users may be declined for rent for any and all reasons by the Landlord. Users of SingleKey’s Tenant Guarantor Program hereby agree and acknowledge that SingleKey bears no responsibility or liability for any losses or damages arising from any results or outcomes of a rental application or from its Tenant Guarantor Program.     (e) SingleKey Rent CreditSingleKey’s Rent Credit services offer Tenant Users the opportunity to report their rental payments electronically to various Credit Bureaus, with the intention to help Tenant Users improve their credit ratings at the Credit Bureaus (the “Rent Credit Program”).Tenant Users will be asked to upload rental history documentation to the Platform, including but not limited to rent receipts, bank statements, and other proof of payments available at the time. Both on-time and late payments submitted to SingleKey may be reported to the credit bureaus. Tenant Users agree that they will upload all available information for a specific lease.The Rent Credit Program does NOT in any way represent or warrant any results or outcomes for the Users, nor does it guarantee or promise to increase Tenant Users’ credit scores. Credit scores are the proprietary property of their respective credit bureaus.By agreeing to T&C of Rent Credit, Users  consent to SingleKey providing information on Users’ rental payments to Equifax Canada, TransUnion Canada, Equifax USA, TransUnion USA, and/or Experian, and other relevant SingleKey third-party partners and suppliers. Any disputes regarding the reporting of rental payments to credit bureaus must be reported to SingleKey in writing at info@singlekey.com.    (f) SingleKey Credit HealthSingleKey’s Credit Health Program (“Credit Health”) offers Users the opportunity to track their credit score, monitor changes, spot potential issues, and understand opportunities to improve their creditworthiness by logging into the Platform and submitting requisite information onto the Platform.Credit Health data is provided by Equifax. For this reason, there may be variations between what users see in Credit Health versus what they see in other credit reports. Credit bureaus also use different credit models depending on the type of credit report run, so there may be variations between credit scores from the same credit bureau. Credit Health helps you dispute errors and fraud in your credit report.By agreeing to T&C of Credit Health, Tenant Users consent to SingleKey providing Equifax Canada the required User information for the User to access Equifax account and receive their credit information  from time to time.    (g) SingleKey Electronic LeasingSingleKey offers Users the opportunity to sign residential leasing documents electronically.Users acknowledge that they have been advised to seek independent legal, tax, or other professional advice before deciding to use the Electronic Leasing tool and have conducted their own due diligence and enquiries before accepting these Terms of Use. SingleKey does not offer legal, paralegal, notary, or other related services, nor does it guarantee the enforceability of documents signed on its Platform.    (h) SingleKey Referral ProgramSingleKey offers Users the opportunity to gain points and earn rewards, through its referral program (“Referral Program”). SingleKey reserves the right to modify, amend or terminate these Terms of Use and any rewards, in whole or in part, offered through the Referral Program, at any time for any reason.Users are bound by these Terms of Use and must meet certain criteria to participate in the Referral Program. Referrers are not permitted to participate in this referral program in jurisdictions in which such programs are prohibited by applicable laws or regulations. SingleKey reserves the right to disqualify any Users from participating in the Referral Program at any time in its sole discretion, including but not limited to cases where Users do not comply with any of these Terms of Use.     (i) How the Referral Program WorksTo participate in the program, existing Users shall send a referral link to a non-existing User. When the non-existing User (“Referee”) accepts the referral link (“Referral Link”) and creates an account on the Site, the referring User shall be deemed a referrer (“Referrer”) pursuant to the Referral Program. When the Referee makes a purchase through the Referral Link, the Referrer may be credited with one (1) reward in the form and value determined by SingleKey, in its sole discretion. The Referee will also receive a discount for using the Referral Link for their purchase.    (ii) RewardsRewards granted by SingleKey as part of its Referral Program have no monetary value and may not be redeemed cash. Rewards are not transferable and may not be auctioned, traded, bartered, returned or sold. Upon termination of the Referral Program, in whole or in part, any unredeemed Reward is forfeited and cannot be claimed. The values reflected in a User’s account are the values that SingleKey shall act based on. All Rewards are issued at the discretion of SingleKey.    (i) SingleKey MarketplaceSingleKey offers the opportunity for Users to connect with select service providers available on SingleKey’s Marketplace. By agreeing to these T&C, Users hereby agree and acknowledge that SingleKey may use your personal information to contact you with information about special offers and rewards (this may include special offers of other carefully selected companies). 7. Accepting the Terms of Use and Additional TermsBy accessing and using the Site in any manner, you acknowledge that you have read these Terms of Use and all of the terms and conditions contained herein.  Before continuing to use the Site, please read these Terms of Use and contact us if you have any questions. SingleKey reserves the right to amend, modify and supplement these Terms of Use from time to time as it sees fit with additional terms and conditions that govern certain information, content, products and services made available to you via the Site (“Additional Terms”).  By accessing and using the Site and the Platform, you accept and agree to comply with and be bound by such Additional Terms.  Please review these Terms of Use from time to time to ensure that you are aware of and understand any Additional Terms.  The Additional Terms and the Privacy Statement (located on the Site) are hereby incorporated by reference into these Terms of Use and form part of the legally binding agreement between you and us. To the extent that there is a conflict between these Terms of Use and any Additional Terms, the Additional Terms shall govern. These Terms of Use will remain in full force and effect as long as you are a user of the Site and, in the event of termination of any product, service or feature, you will still be bound by your obligations under these Terms of Use and the Privacy Statement, and any Additional Terms. 8. Click-Through AgreementsBefore you use certain areas of the Site, you may be asked to indicate your acceptance of certain special terms and conditions by clicking on a button marked “OK” or “I agree.” Any special terms and conditions to which you agree will supplement and amend these Terms of Use.   9. Links to Third-Party SitesUse of certain links on the Site will direct you away from the Site to third party websites. Such third party websites are not under the control of SingleKey, and SingleKey is not responsible for the contents of any such website or any link contained in such website. The third party links included on the Site are provided for your convenience, and the inclusion of such links does not imply a recommendation or endorsement by SingleKey of any such website or the products or services offered therein. 10. Privacy and Personal InformationWe may use your email address to verify your identity, protect against fraud, and contact you. In addition, we may use it to send you updates about your user account, new products and services, and Site updates. Personal information submitted by users to the Site may be employed for the purposes of maintaining the integrity of the Site and its contents, contacting our users when necessary, and improving the quality of service provided by the Site. SingleKey servers also collect information specific to how you use the Internet. SingleKey servers note details such as the server you are logged onto and your IP address. This information is obtained solely for the purpose of maintaining the Site's integrity and improving our service. SingleKey may ask you for more personal information from time to time in a survey format. This information is specifically used to ensure that the Site is up-to-date and relevant, and that the products and services provided to you in advertising format are relevant and of interest to you. Any information used as demographics will not reveal the source, and will be kept secure. This further information provided by you is on an optional basis. SingleKey will employ a data measurement service for tracking the performance of an ad on behalf of the advertiser. The information collected will not contain personal elements, and will only be shared with that particular advertiser. SingleKey reserves the right to disclose your personally identifiable information as required by law and when we believe that disclosure is necessary to protect our rights and/or comply with a judicial proceeding, court order, or legal process served on our Site(s); or to protect our SingleKey and our Users. While we make every effort to ensure the integrity and security of our network and systems, we cannot guarantee that our security measures will prevent third-party “hackers” from illegally obtaining this information. For more information about SingleKey’s treatment and protection of personal information, please read our privacy policy at www.singlekey.com/en-ca/privacy-policy. This policy explains how SingleKey treats your personal information, and protects your privacy, when you use the Site. Questions or requests with respect to your personal information may be sent via email to info@SingleKey.com. 11. Ownership of Intellectual Property RightsThe Site together with all trade-marks and other intellectual property displayed, distributed, or otherwise made available via the Site, including and not limited to any Content, data, materials, information, tools, database rights, patents, copyrights, trademarks (whether registered or unregistered), trade secrets, design rights (whether registered or unregistered) know-how, mask works, moral rights, and all similar rights that may exist now or later in any jurisdiction, including without limitation any applications and registrations for the foregoing, and the SingleKey name, logos, designs, domain names, graphics, icons, scripts, service marks, features, functions, text, graphics, button icons, scripts, service marks, images, software, data compilations and other distinctive brand features, and the compilation and organization thereof (collectively, “Intellectual Property”) is the exclusive property of SingleKey, and its successors, assigns, licensors, and/or suppliers. Unless you have agreed otherwise in writing with SingleKey, nothing in these Terms of Use gives you a right to use any of the Intellectual Property. You may not assign or transfer any of the Intellectual Property and you may not grant a license to use or access the Site to any party. You may use the Site and the Contents solely for your non-commercial and limited personal use and for no other purposes.  No information or statement contained in these Terms of Use or the Site shall be construed as conferring, directly or by implication, estoppel or otherwise, any license or right under any patent, copyright, trade-mark, or other intellectual property right of SingleKey or any third party.  You must not alter, delete, or conceal any copyright or other notices contained on the Site, including notices on any of the Contents that you are permitted to download, transmit, display, print, or reproduce from the Site. You may not allow any third party (whether or not for your benefit) to reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party (including, without limitation, on or via a third party website), or otherwise use, any Contents without the express prior written consent of SingleKey or its owner if SingleKey is not the owner.  Any unauthorized or prohibited use of any Contents may subject you to civil liability, criminal prosecution, or both, under applicable federal, provincial, state and local laws.  You may not create a link to the Site without SingleKey’s prior permission.  We may, however, if requested, grant a limited, nonexclusive right to create a link to the Site provided that such link is to the entry page of the Site and does not portray SingleKey or any of its activities or services in a false, misleading, derogatory, or otherwise negative manner.  The limited rights granted to you under these Terms of Use may be revoked by SingleKey at any time for any reason whatsoever.  Links to third party websites on the Site are provided solely as a convenience to you. If you use these links, you will leave the Site.  SingleKey does not control and is not responsible for any of such third party websites, their content or their policies, including, without limitation, privacy policies or lack thereof. SingleKey does not endorse or make any representations about such third party websites or any information, software, products and services located there, or any results that may be obtained from using such software, products and services.  If you decide to access any of the third party websites linked to the Site, you do so entirely at your own risk.  You acknowledge and agree that SingleKey shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by, or in connection with the use of or reliance on any such third party websites.   12. Intellectual Property InfringementWe take intellectual property rights, both our own and others, very seriously. If you are an owner of intellectual property (or the owner's authorized agent) and believe that any of the Contents or the Site infringes your intellectual property, please notify us using the following procedure: Please send a written notice of intellectual property infringement to info@singlekey.com. In your written notice, please provide the following information:Identification of the intellectual property claimed to have been infringed;Identification of the Contents that you claim are infringing your intellectual property;Information sufficient to permit us to contact you, such as an address, telephone number, and, if available, an electronic mail address at which you may be contacted;A statement that you believe that use of the Contents in the manner complained of is not authorized by the owner, its agent, or the law; andA statement that the information in the notification is accurate, and under penalty of perjury, that you are the owner or are authorized to act on behalf of the owner of an exclusive right that is allegedly infringed.13. Third-Party InformationAny third-party content, data or publications made available through the Site are furnished by SingleKey on an as-is basis for your convenience and information. Any opinions, advice, statements, services, offers, or other information made available by third parties, including program hosts, information providers, or any user of the Site, are those of the respective author(s) or publisher(s) and not of SingleKey. SINGLEKEY DISCLAIMS ANY WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, THAT THE INFORMATION IN SUCH PUBLICATIONS IS ACCURATE OR COMPLETE. 14. No WarrantyYOU EXPRESSLY UNDERSTAND AND AGREE THAT YOUR USE OF THE SITE IS AT YOUR SOLE RISK AND THAT THE SITE AND THE CONTENTS ARE PROVIDED “AS IS” AND “AS AVAILABLE.”IN PARTICULAR, SINGLEKEY AND ITS LICENSORS DO NOT REPRESENT OR WARRANT TO YOU THAT: (a) YOUR USE OF THE SITE WILL MEET YOUR REQUIREMENTS, (b) YOUR USE OF THE SITE WILL BE UNINTERRUPTED, TIMELY, SECURE OR FREE FROM ERROR, (c) ANY INFORMATION OBTAINED BY YOU AS A RESULT OF YOUR USE OF THE SITE WILL BE ACCURATE OR RELIABLE, AND (d) THAT DEFECTS IN THE OPERATION OR FUNCTIONALITY OF ANY SOFTWARE PROVIDED TO YOU AS PART OF THE SITE WILL BE CORRECTED. ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SITE IS DONE AT YOUR OWN DISCRETION AND RISK AND THAT YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR OTHER DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM SINGLEKEY OR THROUGH OR FROM THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS OF USE. SINGLEKEY FURTHER EXPRESSLY DISCLAIMS ALL WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES AND CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. 15. Limitation of LiabilitySUBJECT TO SECTION 14 ABOVE, YOU EXPRESSLY UNDERSTAND AND AGREE THAT SINGLEKEY, AND ITS LICENSORS SHALL NOT BE LIABLE TO YOU FOR: (a) ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOSS OF GOODWILL OR BUSINESS REPUTATION, LOSS OF DATA SUFFERED, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR OTHER INTANGIBLE LOSS; AND (b) ANY LOSS OR DAMAGE WHICH MAY BE INCURRED BY YOU, INCLUDING BUT NOT LIMITED TO LOSS OR DAMAGE AS A RESULT OF: (i) ANY RELIANCE PLACED BY YOU ON THE COMPLETENESS, ACCURACY OR EXISTENCE OF ANY ADVERTISING, OR AS A RESULT OF ANY RELATIONSHIP OR TRANSACTION BETWEEN YOU AND ANY ADVERTISER OR SPONSOR WHOSE ADVERTISING APPEARS ON THE SITE; (ii) ANY CHANGES WHICH SINGLEKEY MAY MAKE TO THE SITE, OR FOR ANY PERMANENT OR TEMPORARY CESSATION IN THE PROVISION OF THE SITE (OR ANY FEATURES WITHIN THE SITE); (iii) THE DELETION OF, CORRUPTION OF, OR FAILURE TO STORE, ANY USER CONTENT AND OTHER COMMUNICATIONS DATA MAINTAINED OR TRANSMITTED BY OR THROUGH YOUR USE OF THE SITE; (iv) YOUR FAILURE TO PROVIDE SINGLEKEY WITH ACCURATE ACCOUNT INFORMATION; (iv) YOUR FAILURE TO KEEP YOUR PASSWORD OR ACCOUNT DETAILS SECURE AND CONFIDENTIAL. THE LIMITATIONS ON SINGLEKEY’S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT SINGLEKEY HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING. 16. DisclaimersSingleKey informs Users of the following disclaimers: Users recognise that SingleKey receives information included in the Reports from independent third parties that are outside of the control of SingleKey. SingleKey is not responsible for the contents incorporated within the Report whether correct or incorrect. Should discrepancies arise, Users have the right to raise a dispute through the Third-Party Agency themselves. Users agree to give up the right to raise such a dispute with SingleKey and thus hold SingleKey harmless and not liable for such incorrect information. The Report should not be the sole basis for any decision by any User. Users should consider other factors that a reasonable decision-maker in a similar situation would take into account. It is recommended that Users not assume a result or finding based solely on a Report. SingleKey does not represent that the Report is identical or similar to any other credit score, rating model or evaluation tool. The credit information contained in the credit report aspect of the SingleKey Credit and Background Check Report is a reflection of the latest data available to Third Party credit reporting agencies. Therefore, certain transactions or recent charges made that may affect the relevant credit score may not be made immediately available because a credit score is subject to change. Criminal record aspect of our Report is data provided by a Third-Party reporting agency and may not be available for all applicants or at all times for various reasons, including reasons beyond our control (ie: User input error). We are not a government agency and do not control or verify the contents of criminal record reports or motor vehicle reports, including reports obtained through the Service. We are not responsible for the contents of any criminal record report or motor vehicle report, whether correct or incorrect. Thus, you agree to hold SingleKey harmless for any harm arising or that may arise from your reliance on a Report. SingleKey does not warrant that their services will be carried out without interruption or errors. If a Report contains incorrect scores, SingleKey’s sole duty to the Landlord in such cases will be to reproduce a new report or, should the error be unresolvable, issue a partial or full refund for the Report (at the discretion of SingleKey). SingleKey is not responsible under any circumstances for carrying out any vetting process or other form of check on a Landlord. SingleKey is not responsible for any transaction between Tenant and Landlord or any unfavourable outcome that may arise. SingleKey does not make any representations, warranties or guarantees other than those expressly set out in these Terms and Conditions. SingleKey is not to be held responsible for the fulfillment of the terms and conditions of the Rental Guarantee Program. SingleKey is not responsible for any loss or damage caused, as a result of the failure of a score used to accurately predict the potential worthiness of an individual. 17. TerminationWe may terminate your use of the Site and/or access to the Contents, features, functionality, products and services made available in connection therewith, at any time and for any reason, with or without cause, without prior notice to you and without any liability or further obligation of any kind whatsoever to you or any other party. If you want to terminate your account with SingleKey, you may do so by closing your account, where SingleKey has made this option available to you. SingleKey may at any time, terminate your use of the Site if: (a) you have breached any provision of these Terms of Use (or have acted in a manner which clearly shows that you do not intend to, or are unable to comply with the provisions of the Terms of Use); (b) SingleKey is required to do so by law (for example, where the provision of the Site to you is, or becomes, unlawful); (c) the Third-Party Partner with whom or through whom SingleKey offered the services to you has terminated its relationship with SingleKey or ceased to offer the services to you; (d) SingleKey is transitioning to no longer providing the Site to users in the country in which you are resident or from which you use the Site; or(e) the provision of the Site to you by SingleKey is, in SingleKey’s opinion, no longer commercially viable. When these Terms of Use come to an end, all of the legal rights, obligations and liabilities that you and SingleKey have benefited from, been subject to (or which have accrued over time while the Terms of Use have been in force) or which are expressed to continue indefinitely, shall be unaffected by such termination. 18. IndemnificationYou agree to indemnify, defend, and hold harmless SingleKey and its successors and assigns, and any of their respective officers, directors, employees, Users, agents, representatives, licensors, advertisers, and suppliers from any liability, loss, claim, and expense (including reasonable legal fees) related to (a) your violation of these Terms of Use; (b) your use of the Site; (c) SingleKey acting in accordance of a Landlord User’s instructions; (d) non-payment of rent by a Tenant User; (e) non-payment or delay of payment by Payor for any reason whatsoever; and (f) any breach of representations, warranties, or covenants herein by User. This provision shall survive the termination of (a) User’s use of the Site or User’s account; or (b)  the termination of User’s relationship with SingleKey.  We reserve the right to assume, at our sole expense, the exclusive defense and control of any such claim or action and all negotiations for settlement, or compromise, and you agree to fully cooperate with us in the defense of any such claim, action, settlement or compromise negotiations, as we may request.  19. General These Terms of Use, together with any Additional Terms, the Privacy Statement and the Copyright Statement constitute the entire agreement between you and SingleKey relating to your use and our provision of the Site.  You agree that SingleKey may provide you with notices, including those regarding changes to these Terms of Use, by email, regular mail, or postings on the Site. You agree that if SingleKey does not exercise or enforce any legal right or remedy which is contained in these Terms of Use (or which SingleKey has the benefit of under any applicable law), this will not be taken to be a formal waiver of SingleKey’s rights and that those rights or remedies will still be available to SingleKey. If any provision of these Terms of Use is held to be illegal, invalid or unenforceable, this will not affect any other provision of these Terms of Use and the agreement between you and us will be deemed amended to the extent necessary to make it legal, valid, and enforceable.  The laws of the Province of Ontario and the federal laws applicable therein shall govern these Terms of Use in all respects, without giving effect to conflicts of laws principles. 20. Obtaining SINGLEKEY's ConsentTo request the consent of SingleKey for any of the actions for which such consent is required under these Terms of Use, please send an e-mail to info@SingleKey.ca. SingleKey reserves the right to refuse any such requests in its sole discretion. --- ### Privacy Policy [Privacy Policy](https://www.singlekey.com/en-us/privacy-policy/) Date: February 27, 2023 Author: SingleKey Content: Privacy Policy Published on Oct 18, 2021 | Updated on Jun 23, 2022 Protecting your private information is our priority. This Statement of Privacy applies to SingleKey’s Website https://www.singlekey.com (“Website” herein) and governs data collection and usage. For this Privacy Policy, unless otherwise noted, all references to SingleKey include https://www.singlekey.com. Also, for this policy, the terms “we”, “us”, “our” refer to SingleKey and the Website. The terms “User”, “you”, “your”, refer to the individual visiting the Website and can include the Landlord and Applicant. The term “Landlord” specifically addresses the individual who visits the SingleKey Website to place an order for a Report. The term “Report” relates to the report generated by Equifax Canada with respect to a Tenant and shared to the Landlord via the SingleKey platform, provided the Landlord has obtained written consent from the Tenant to receive this Report and the Personal Information therein. The term “Tenant” or “Applicant” refers to the party whose Personal Information is collected to produce a Report. By using the SingleKey website, you consent to the data practices described in this statement. What Information Do We Collect? SingleKey collects “Personal Information” from applicants who visit the SingleKey Website. “Personal Information” means any data or personal information that can identify, be related to, or describe any individual User directly or indirectly. SingleKey also collects “Ambiguous Information” This is defined as data that is not connected to or cannot identify an individual but is still collected from Users. Our service requires us to collect, store, request, transfer and share “Personal Information” about Users who visit the Website and request a Report. SingleKey utilises third party payment services to process payments for SingleKey Services (included but not limited to Rent Collection, Credit Report and Rent Guarantee Program). SingleKey does not store payment information from Users directly on SingleKey servers. Payment information is stored on third party sites. What Information does the User provide to SingleKey? To purchase a Report from SingleKey’s website, we require the User to submit certain pieces of Personal Information to complete the purchase. This includes the submission of the Applicant’s date of birth, Social Security Number (if US jurisdiction is engaged), driver’s license, current address of residence, first name, last name, email address, phone number and billing and payment information. The Applicant will have the option to fill out a standard online rental application form to provide additional information if he/she so wishes. The submission of an Applicant’s SIN information is optional (the first six digits of your SIN/SSN will be redacted). The Landlord would need to provide their full name, phone number, driver’s license, address of property under management, and number of properties under management. By providing this information to SingleKey, the Website, or any member of staff, you are giving express consent for us to use this information as needed. Private information is collected and distributed subject to applicable privacy and other legislation in Canada. SingleKey may also collect anonymous demographic information, which is not unique to you, such as your age and gender. We may gather additional personal or non-personal information in the future. SingleKey uses third parties such as banks and credit reporting agencies to gather your data from financial institutions. By using our service, you grant SingleKey and the third parties associated with it, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. What Information does SingleKey Provide to the User? SingleKey provides the Report to the User. The Report includes data provided by Equifax Canada (or other “Third-Party Reporting Agencies”) with respect to the Applicant, together with any other information the Applicant may provide on a voluntary basis. The information includes but is not limited to the following: Applicant’s credit history, credit reports, financial transactions, criminal record reports, motor vehicle record, social and behavioural profiles, government agencies, police agencies, news publications, public court databases, social media links, verification of your previous residence, employment, and the education of the Applicant. This information is only shared with the User if consent is provided by the Applicant for SingleKey to obtain this information from the relevant Third-Party Reporting Agency and subsequently disclose the same to the User. What Information is Automatically Collected? While using the Website, SingleKey will automatically gather information necessary for the function and operation of our services such as information about your computer hardware and software. This information can include but is not limited to a User’s address, browser type, domain names, access times and referring website addresses. This information is used for the operation of the service, to maintain quality of the service, and to provide general statistics regarding use of the SingleKey website. SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. How do we use your information? SingleKey collects Personal Information from Users inputting this information into our Website to purchase a Report. SingleKey collects and uses your personal information to operate the Website(s) and deliver the services at your request. SingleKey reserves the right to use Personal Information to inform Users of other products or services available from SingleKey and its affiliates. SingleKey may also contact you through contact details that you have provided to conduct research about your opinion of current services or of potential new services that may be offered. SingleKey may keep track of the pages of the Website our Users visit within SingleKey, to determine what SingleKey services are the most popular. This data is used to deliver customized content and advertising within SingleKey to customers whose behaviour indicates that they are interested in a particular subject area.In addition, SingleKey may use your Personal Information for a variety of purposes, including:to manage, administer, collect or otherwise enforce SingleKey Accounts;to send product updates or warranty information; to respond to customer service requests; to send you newsletters and/or marketing communications;to respond to your questions and concerns;to conduct research and analysis, including statistical analysis;to verify the identity of both Landlords and Tenants using our Services; to communicate with Landlords, Tenants and relevant third parties; to obtain, review and analyze Consumer Report Information;to disclose Consumer Report Information (obtained from Third-Party Reporting Agencies) to Landlords, where consent has been obtained from the Tenant;to process payment for Services;to investigate and resolve inaccuracies in the information we have obtained;to provide, maintain, and improve the Service and the Website, including the user’s SingleKey account;to monitor, review and improve customer service and internal business processes;to audit or investigate the use of our products and Services, and to detect, investigate and prevent fraud or other illegal activities; to track and analyze trends and usage of the Services and the Website;to offer and provide SingleKey product and services; andto display content based upon your interests;You may refuse to provide us with your personal information; however, some personal information is necessary in order to provide certain Services. Accordingly, if you refuse to provide us with required personal information, we may not be able to provide you with the Services. Our website might include links to third-party websites as well as content and applications hosted and served by third parties. When clicking on those links, these third-parties may collect your personal information. If you follow a link to a third-party website, please refer to the third-party’s privacy statement for information on the type of personal information it collects, and how it uses or discloses it and for information on its privacy practices. How do we share your information? We share your personal information for the following purposes:to provide screening services for landlords and other related services to our customers;to manage, administer, collect or otherwise enforce SingleKey Accounts;to our suppliers, agents, or other organizations or individuals contracted to SingleKey to perform services or functions on our behalf where they require information to assist us in the provision of the Service and the Website and/or to create, offer or improve our products and services to you (such information is limited to name, rental unit address and contact information);payment processing by our third-party payment processors;to investigate or to assist in the investigation of: (a) contravention of a law and/or fraudulent activities; or (b) violations of this Privacy Policy or our Terms of Use; andif SingleKey is involved in a merger, acquisition, or sale of all or a portion of its assets, we may disclose and/or transfer personal information to our successor or assign who may collect, use and disclose the personal information for substantially the same purposes as described in this Privacy Policy.Your provision of Personal Information to SingleKey means that you agree and consent that we may collect, use and disclose your Personal Information in accordance with this Privacy Policy. If you do not agree, you are requested not to provide any Personal Information to SingleKey. You are free to refuse or withdraw your consent at any time. We may not be able to offer you any SingleKey products, services or related information if you choose not to provide us with any required Personal Information. In addition to your consent when submitting information, we may also, from time to time, collect more specific, written consents or authorizations. There are circumstances where the use and/or disclosure of Personal Information may be justified or permitted or where SingleKey is obliged to disclose information without consent, including but not limited to the following circumstances:Where required by law or by order of a tribunal, such as to comply with a subpoena, or a similar legal or regulatory process or request;Where SingleKey believes that disclosure is necessary to protect the rights, privacy, safety or property of SingleKey, our users or others;Where it is necessary to establish or collect fees;Where it is necessary to permit SingleKey to pursue available remedies or limit any damages that SingleKey may sustain; orWhere the information is public.Where obliged or permitted to disclose information without consent, SingleyKey will not disclose more information than is required. Opt-In / Opt Out If you wish to opt-out of having your personal information shared by SingleKey to third-party corporate entities and vendors, please send us an email at info@singlekey.com.We respect your privacy and give you an opportunity to opt-out of receiving announcements of certain information. Users may opt-out of receiving any or all communications from SingleKey by sending us an email at info@singlekey.com. How do we protect your Personal Information? SingleKey secures your personal information from unauthorized access, use or disclosure. When personal information (such as payment information) is transmitted to other websites, it is protected through the use of encryption, such as the Secure Sockets Layer (SSL) protocol. How long do we retain the information we collect? SingleKey retains the Personal Information and ambiguous information provided through the Website for 90 days before it is removed. Landlords are given access to Reports they order for 90 days before the Reports are deleted from their SingleKey Account. SingleKey does keep a record of the Reports ordered in our database should we ever need to re-access these Reports. What Information does SingleKey collect from Third Parties? SingleKey collects Personal and Ambiguous Information from several third-party sources. How SingleKey collects, distributes and uses this information is determined by these terms outlined within this document as well as the privacy terms listed on the third-party source’s website. Third-party providers have the right to send their cookies and pixel tags to you and may collect information and use it in a way inconsistent with SingleKey’s Policy but may be consistent with their own. For this reason, all Users should review these third-party privacy policies to understand how your information may be collected, used and disclosed by these third parties. Credit Reporting and Third-Party AgencySingleKey utilises other Third-Party reporting agencies that have access to and supply us with all elements of our Report. Specifically, we rely on credit and personal information (“Consumer Report Information”) provided by Equifax (https://www.equifax.com/privacy/ ) to generate a Report. Thus, given that Equifax generates all credit information or personal information pertaining to Users, it is important for Users to read and understand the third-party credit reporting agency privacy terms to which their information is subject.Google AnalyticsTo better understand Users who visit our Website, SingleKey deploys cookies provided by Google Analytics (https://support.google.com/analytics) to assist with this aspect of our service. These cookies collect User IP addresses as well as their usage data, including but not limited to the length of time a User spends on a page, and what pages a User visits. From the information that is used, this service allows SingleKey compiles data about website traffic and a User’s website interaction. The main purpose of Google Analytics is to allow SingleKey to offer the best possible experiences. Cookie and website data Cookies, web beacons, pixel tags or other technologies may be used by SingleKey through the Website. Cookies can help site providers understand how people use a site, remembering a user’s login details, and storing site preferences.SingleKey may use cookies for one or more of the following purposes:Strictly necessary cookies are cookies that are necessary for the operation of the Website.Functionality cookies are cookies used to recognize Users when they return to our websites and allows SingleKey to customize a Users online experience (for example, by remembering your choice of language or region).Analytical cookies help SingleKey gather information about the areas visited on the websites in order to evaluate and improve the user experience and the websites.Advertising cookies allow SingleKey to display advertisements relevant to your interests based on your activity on the Website.You can choose not to accept cookies by adjusting your browser settings. Should you choose not to accept cookies, some areas of the websites or our services may not function properly or optimally. If you would like to learn more about how to set your cookie options, please refer to your browser’s documentation or online help for instructions. Children under eighteen SingleKey does not knowingly collect personally identifiable information from children under the age of eighteen. If you are under the age of eighteen, you must ask your parent or guardian for permission to use this website. Changes to this Statement SingleKey will occasionally update this Statement of Privacy to reflect company and customer feedback. SingleKey encourages you to periodically review this Statement to be informed of how SingleKey is protecting your information. Contact information SingleKey welcomes your questions or comments regarding this Statement of Privacy. If you believe that SingleKey has not adhered to this Statement, please contact SingleKey.​ For all other questions, contact our team 1-877-978-1404 info@singlekey.com Privacy Policy Published on Oct 18, 2021 | Updated on Jun 23, 2022 Protecting your private information is our priority. This Statement of Privacy applies to SingleKey’s Website https://www.singlekey.com (“Website” herein) and governs data collection and usage. For this Privacy Policy, unless otherwise noted, all references to SingleKey include https://www.singlekey.com. Also, for this policy, the terms “we”, “us”, “our” refer to SingleKey and the Website. The terms “User”, “you”, “your”, refer to the individual visiting the Website and can include the Landlord and Applicant. The term “Landlord” specifically addresses the individual who visits the SingleKey Website to place an order for a Report. The term “Report” relates to the report generated by Equifax Canada with respect to a Tenant and shared to the Landlord via the SingleKey platform, provided the Landlord has obtained written consent from the Tenant to receive this Report and the Personal Information therein. The term “Tenant” or “Applicant” refers to the party whose Personal Information is collected to produce a Report. By using the SingleKey website, you consent to the data practices described in this statement.What Information Do We Collect?SingleKey collects “Personal Information” from applicants who visit the SingleKey Website. “Personal Information” means any data or personal information that can identify, be related to, or describe any individual User directly or indirectly. SingleKey also collects “Ambiguous Information” This is defined as data that is not connected to or cannot identify an individual but is still collected from Users. Our service (“Service”) requires us to collect, store, request, transfer and share “Personal Information” about Users who visit the Website and request a Report.SingleKey utilises third party payment services to process payments for SingleKey Services (included but not limited to Rent Collection, Report and Rent Guarantee Program). SingleKey does not store payment information from Users directly on SingleKey servers. Payment information is stored on third party sites. What Information does the User provide to SingleKey?To purchase a Report from SingleKey’s website, we require the User to submit certain pieces of Personal Information to complete the purchase. This includes the submission of the Applicant’s date of birth, Social Security Number (if US jurisdiction is engaged), driver’s license, current address of residence, first name, last name, email address, phone number and billing and payment information. The Applicant will have the option to fill out a standard online rental application form to provide additional information if he/she so wishes. The submission of an Applicant’s SIN information is optional (the first six digits of your SIN/SSN will be redacted). The Landlord would need to provide their full name, phone number, driver’s license, address of property under management, and number of properties under management. By providing this information to SingleKey, the Website, or any member of staff, you are giving express consent for us to use this information as needed. Private information is collected and distributed subject to applicable privacy and other legislation in Canada. SingleKey may also collect anonymous demographic information, which is not unique to you, such as your age and gender. We may gather additional personal or non-personal information in the future. SingleKey uses third parties such as banks and credit reporting agencies to gather your data from financial institutions. By using our service, you grant SingleKey and the third parties associated with it, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. What Information does SingleKey Provide to the User?SingleKey provides the Report to the User. The Report includes data provided by Equifax Canada (or other “Third-Party Reporting Agencies”) with respect to the Applicant, together with any other information the Applicant may provide on a voluntary basis. The information includes but is not limited to the following: Applicant’s credit history, credit reports, financial transactions, criminal record reports, motor vehicle record, social and behavioural profiles, government agencies, police agencies, news publications, public court databases, social media links, verification of your previous residence, employment, and the education of the Applicant. This information is only shared with the User if consent is provided by the Applicant for SingleKey to obtain this information from the relevant Third-Party Reporting Agency and subsequently disclose the same to the User. What Information is Automatically Collected?While using the Website, SingleKey will automatically gather information necessary for the function and operation of our services such as information about your computer hardware and software. This information can include but is not limited to a User’s address, browser type, domain names, access times and referring website addresses. This information is used for the operation of the service, to maintain quality of the service, and to provide general statistics regarding use of the SingleKey website. SingleKey encourages all Users to review the privacy statements of websites you choose to link to from SingleKey so that you can understand how those websites collect, use and share your information. SingleKey is not responsible for the privacy statements or other content on websites outside of the SingleKey website. How do we use your information?SingleKey collects Personal Information from Users inputting this information into our Website to purchase a Report. SingleKey collects and uses your personal information to operate the Website(s) and deliver the services at your request. SingleKey reserves the right to use Personal Information to inform Users of other products or services available from SingleKey and its affiliates. SingleKey may also contact you through contact details that you have provided to conduct research about your opinion of current services or of potential new services that may be offered. SingleKey may keep track of the pages of the Website our Users visit within SingleKey, to determine what SingleKey services are the most popular. This data is used to deliver customized content and advertising within SingleKey to customers whose behaviour indicates that they are interested in a particular subject area. In addition, SingleKey may use your Personal Information for a variety of purposes, including:to manage, administer, collect or otherwise enforce SingleKey Accounts;to send product updates or warranty information; to respond to customer service requests; to send you newsletters and/or marketing communications;to respond to your questions and concerns;to conduct research and analysis, including statistical analysis;to verify the identity of both Landlords and Tenants using our Services; to communicate with Landlords, Tenants and relevant third parties; to obtain, review and analyze Consumer Report Information;to disclose Consumer Report Information (obtained from Third-Party Reporting Agencies) to Landlords, where consent has been obtained from the Tenant;to process payment for Services;to investigate and resolve inaccuracies in the information we have obtained;to provide, maintain, and improve the Service and the Website, including the user’s SingleKey account;to monitor, review and improve customer service and internal business processes;to audit or investigate the use of our products and Services, and to detect, investigate and prevent fraud or other illegal activities; to track and analyze trends and usage of the Services and the Website;to offer and provide SingleKey product and services; andto display content based upon your interests;You may refuse to provide us with your personal information; however, some personal information is necessary in order to provide certain Services. Accordingly, if you refuse to provide us with required personal information, we may not be able to provide you with the Services. Our website might include links to third-party websites as well as content and applications hosted and served by third parties. When clicking on those links, these third-parties may collect your personal information. If you follow a link to a third-party website, please refer to the third-party’s privacy statement for information on the type of personal information it collects, and how it uses or discloses it and for information on its privacy practices.How do we share your information?We share your personal information for the following purposes:to provide screening services for landlords and other related services to our customers;to manage, administer, collect or otherwise enforce SingleKey Accounts;to our suppliers, agents, or other organizations or individuals contracted to SingleKey to perform services or functions on our behalf where they require information to assist us in the provision of the Service and the Website and/or to create, offer or improve our products and services to you (such information is limited to name, rental unit address and contact information);payment processing by our third-party payment processors;to investigate or to assist in the investigation of: (a) contravention of a law and/or fraudulent activities; or (b) violations of this Privacy Policy or our Terms of Use; andif SingleKey is involved in a merger, acquisition, or sale of all or a portion of its assets, we may disclose and/or transfer personal information to our successor or assign who may collect, use and disclose the personal information for substantially the same purposes as described in this Privacy Policy.Your provision of Personal Information to SingleKey means that you agree and consent that we may collect, use and disclose your Personal Information in accordance with this Privacy Policy. If you do not agree, you are requested not to provide any Personal Information to SingleKey. You are free to refuse or withdraw your consent at any time. We may not be able to offer you any SingleKey products, services or related information if you choose not to provide us with any required Personal Information. In addition to your consent when submitting information, we may also, from time to time, collect more specific, written consents or authorizations. There are circumstances where the use and/or disclosure of Personal Information may be justified or permitted or where SingleKey is obliged to disclose information without consent, including but not limited to the following circumstances:Where required by law or by order of a tribunal, such as to comply with a subpoena, or a similar legal or regulatory process or request;Where SingleKey believes that disclosure is necessary to protect the rights, privacy, safety or property of SingleKey, our users or others;Where it is necessary to establish or collect fees;Where it is necessary to permit SingleKey to pursue available remedies or limit any damages that SingleKey may sustain; orWhere the information is public.Where obliged or permitted to disclose information without consent, SingleyKey will not disclose more information than is required.Opt-In / Opt OutIf you wish to opt-out of having your personal information shared by SingleKey to third-party corporate entities and vendors, please send us an email at info@singlekey.com.We respect your privacy and give you an opportunity to opt-out of receiving announcements of certain information. Users may opt-out of receiving any or all communications from SingleKey by sending us an email at info@singlekey.com.How do we protect your Personal Information?SingleKey secures your personal information from unauthorized access, use or disclosure. When personal information (such as payment information) is transmitted to other websites, it is protected through the use of encryption, such as the Secure Sockets Layer (SSL) protocol.How long do we retain the information we collect?SingleKey retains the Personal Information and ambiguous information provided through the Website for 90 days before it is removed. Landlords are given access to Reports they order for 90 days before the Reports are deleted from their SingleKey Account. SingleKey does keep a record of the Reports ordered in our database should we ever need to re-access these Reports.What Information does SingleKey collect from Third Parties?SingleKey collects Personal and Ambiguous Information from several third-party sources. How SingleKey collects, distributes and uses this information is determined by these terms outlined within this document as well as the privacy terms listed on the third-party source’s website. Third-party providers have the right to send their cookies and pixel tags to you and may collect information and use it in a way inconsistent with SingleKey’s Policy but may be consistent with their own. For this reason, all Users should review these third-party privacy policies to understand how your information may be collected, used and disclosed by these third parties.Credit Reporting and Third-Party AgencySingleKey utilises other Third-Party reporting agencies that have access to and supply us with all elements of our Report. Specifically, we rely on credit and personal information (“Consumer Report Information”) provided by Equifax (https://www.equifax.com/privacy/ ) to generate a Report. Thus, given that Equifax generates all credit information or personal information pertaining to Users, it is important for Users to read and understand the third-party credit reporting agency privacy terms to which their information is subject.Google AnalyticsTo better understand Users who visit our Website, SingleKey deploys cookies provided by Google Analytics (https://support.google.com/analytics) to assist with this aspect of our service. These cookies collect User IP addresses as well as their usage data, including but not limited to the length of time a User spends on a page, and what pages a User visits. From the information that is used, this service allows SingleKey compiles data about website traffic and a User’s website interaction. The main purpose of Google Analytics is to allow SingleKey to offer the best possible experiences.Cookie and Website DataCookies, web beacons, pixel tags or other technologies may be used by SingleKey through the Website. Cookies can help site providers understand how people use a site, remembering a user’s login details, and storing site preferences.SingleKey may use cookies for one or more of the following purposes:Strictly necessary cookies are cookies that are necessary for the operation of the Website.Functionality cookies are cookies used to recognize Users when they return to our websites and allows SingleKey to customize a Users online experience (for example, by remembering your choice of language or region).Analytical cookies help SingleKey gather information about the areas visited on the websites in order to evaluate and improve the user experience and the websites.Advertising cookies allow SingleKey to display advertisements relevant to your interests based on your activity on the Website.You can choose not to accept cookies by adjusting your browser settings. Should you choose not to accept cookies, some areas of the websites or our services may not function properly or optimally. If you would like to learn more about how to set your cookie options, please refer to your browser’s documentation or online help for instructions.Children Under EighteenSingleKey does not knowingly collect personally identifiable information from children under the age of eighteen. If you are under the age of eighteen, you must ask your parent or guardian for permission to use this website.Changes to this StatementSingleKey will occasionally update this Statement of Privacy to reflect company and customer feedback. SingleKey encourages you to periodically review this Statement to be informed of how SingleKey is protecting your information.Contact Information​SingleKey welcomes your questions or comments regarding this Statement of Privacy. If you believe that SingleKey has not adhered to this Statement, please contact SingleKey.​ For all other questions, contact our team 1-877-978-1404 info@singlekey.com --- ### Careers [Careers](https://www.singlekey.com/en-us/careers/) Date: February 12, 2023 Author: SingleKey Content: Careers at SingleKey Be part of something good. We’re making renting easier and safer for everyone. Join our growing team at SingleKey and help us build the solutions that people need. Apply now Our Culture When you grow, we grow We’re a compact, focused, and tight-knit team that encourages happy work and healthy growth. Take perspective We value relationships and never underestimate empathy. Ask tough questions We share our concerns and solve problems together. Say it how it is We’re honest about our feelings and always encourage open communications. Play as a team We collaborate across every department to find answers and make magic. Make smart mistakes We take risks and learn from our mistakes to keep doing better. Take charge We own our tasks and take responsibility when needed. Our Benefits Find your balance Good work happens when you feel like yourself. SingleKey offers a range of benefits so you can fulfill your career goals and take time for yourself. Lively office in the heart of Downtown Toronto Flexible hours Hybrid/Remote work Health & dental benefits Apply to SingleKey today Browse our current openings Apply now Apply to SingleKey today Browse our current openings --- ### About [About](https://www.singlekey.com/en-us/about/) Date: January 18, 2023 Author: SingleKey Content: About Us Everyone deserves rental wellbeing. SingleKey is making renting easier and safer for everyone. Learn more about our company and our culture. Get in touch Join our team Our Mission Bringing trust, transparency, & accountability into the rental process. By building tools that mitigate the common risks of renting, we’re making renting easier, safer, and more transparent than ever. 120,000 Homeowners 500,000+ Tenants 6,500+ Real estate agents 650+ Enterprise property managers The Reviews Are In A family of rental solutions Anyone can rent risk-free with SingleKey. Choose a solution below to get started. For homeowners For professionals For tenants For homeowners Tenant Reports Comprehensive tenant screening, done in minutes. Rent Collection Easier rent payments with automated collection & more. Rent Guarantee The ultimate protection & financial backup for any rental property. For professionals For property managers Run Tenant Reports for 10+ properties and enjoy exclusive perks as part of our Partner Program. For realtors Protect your clients’ investment with guaranteed rental income, damage protection, and more. Plus, get perks from our Partner Program. For tenants Universal Rental Application Strengthen & speed up your applications with a digital profile trusted by homeowners. Tenant Passport Get SingleKey as your guarantor and improve your chances of securing the perfect rental. You've seen us in Join our team We’re looking for fresh thinkers who love to take on real-world challenges with passion and creativity. Explore our open roles and apply today. Work with us View All What Our Users Say Impacting communities, one rental at a time “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer See all reviews --- ### Rent Guarantee [Rent Guarantee](https://www.singlekey.com/?page_id=49563) Date: January 18, 2023 Author: SingleKey Content: Protect your rental income Rent Guarantee gives you financial and legal support in case of missed rent payments, lease break, property damage. Rental income guarantee: 12 months of rent reimbursed Damage protection: $10,000 in damages Eviction legal fees: $2,000 in legal fees Book a call Get a quote Over $50 million in Guaranteed Rent across Canada Tenant troubles can be costly Even the best tenants can stop paying rent for many reasons (job loss, health issues, breakups). You can’t predict when this will happen, but when it does, costs can quickly get out of control. $16K Average homeowner losses related to tenant evictions $1,450 Average cost of legal, court filing and sheriff fees for tenancy hearings 6-10 months Time to evict a tenant(varies by state) GIVING PEACE OF MIND TO THOUSANDS OF HOMEOWNERS [elementor-template id="41547"] [elementor-template id="42560"] [elementor-template id="42563"] [elementor-template id="42564"] rent guarantee includes Protect yourself with the Rent Guarantee Get approved and relax: we’ve got you covered with extensive financial backups, legal support, and eviction resolution. Rental income guarantee In case of delinquency, we’ll reimburse up to 12 months’ rent (up to $60,000). 12 months of rent guaranteed Lease break protection Get up to 30 days of rent paid if your tenant leaves unexpectedly without providing proper notice. 30 days of rent guaranteed Property damage protection We’ll reimburse unpaid court-ordered malicious tenant damages up to $10,000. $10K guaranteed Legal and eviction support If you have to go through an eviction, our legal team will assist you, with legal fees reimbursed up to $2,000.​ $2K guaranteed Get started Preview sample contract HOW IT WORKS Rent Guarantee steps in when tenants stop paying rent Once tenants stop paying, one of our dedicated Rent Guarantee Specialists will step in to resolve the issue and handle the lengthy legal process on your behalf. We contact the tenant We contact the tenant to understand why they’re not paying and, possible, set up a payment plan. We send an eviction notice If the tenant is unresponsive, or unwilling to pay, we proceed to send an eviction notice. We hire a paralegal to file for eviction If necessary, we then hire an experienced paralegal to file for eviction and book a tribunal hearing. We help you enforce the eviction order After obtaining an eviction judgment, we’ll guide you through the process of hiring a sheriff to remove the tenant if necessary. Inspect property for damages Once the property is vacant, inspect for damages and we can reimburse you up to $10,000 in case of malicious damage. Skip these headaches. Guarantee your rent today. Book a call Get a quote qualifications and requirements Getting approved is easy Our simple and reasonable criteria means we can approve most tenants. Here are the qualification criteria and documents required to apply for the Rent Guarantee. Qualification criteria Tenants qualify for the Rent Guarantee if they have: Rent-to-Gross Household Income Ratio does not exceed 50% Minimum 1 employed person in the household No bankruptcy or eviction on a credit report in the past 3 years Documents required For new tenant applicants we require: Tenant credit report or SingleKey Tenant Report Proof of income and ID Signed lease agreement For existing, mid-lease tenants we also require proof of past rent payments. Get approved today Apply and get started today Sign up and submit your application to get approved for the Rent Guarantee. Share tenant details Enter some information about your rental unit and the tenant you’d like to enrol for the Rent Guarantee program. Upload documents Upload your tenant’s credit report and proof of income documents, so our team can determine their eligibility. See eligibility criteria Get approved After you’ve submitted the required documents, a Rent Guarantee Specialist will let you know if the tenant is approved. Apply now Watch tutorial HOW TO MAKE A DEMAND Reimbursements made simple STEP 1 Tell us what happened Let us know why you need to fill a demand: defaulting on rent, lease break, or damages. STEP 2 Fill out a default notice form Share some additional details about the situation. It only takes 5 minutes! STEP 3 Share a copy of your lease Provide us with a copy of the signed lease agreement. Get guaranteed at an affordable price Pay monthly Pay annually Save 10% Rent Guarantee 5.5% of the monthly rent Book a call What's included: Guaranteed rent: 12 months Property damage protection: $10,000 Legal fees and paralegal support: $2,000 Lease break: 1 month rent 2 complimentary Tenant Reports ($60 value) Additional benefits included Complementary add-ons for total peace of mind Tenant Screening Annual Rent Guarantee subscriptions include 2 Tenant Reports so you can screen potential tenants with confidence. Reference checks If necessary, our team will call employment and landlord references to verify the tenant’s history, employment, and income. Book a call How the Rent Guarantee has helped homeowners Hear from real homeowners and discover how the Rent Guarantee gave them peace of mind How Rent Guarantee Gave A Homeowner Confidence to Grow His Rental Business Eviction Resolved: Rent Guarantee Saves Landlord From $10,000 in Financial Loss Rent Guarantee Saved This Property Owner From More Than $20K in Tenant Default Costs See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 We've had the unfortunate opportunity of using the service, but SingleKey came through and covered our loss. The demand process was efficient and payout came without many hurdles. The guarantee extends support to early lease termination, non-payment of rent, paralegal fees and unit damage. In these times it is nice to have some cushion to rely on if things go sideways with a tenant. Evan N. December 2023 I had a tenant who stopped paying rent after losing their job, but fortunately, I was enrolled in the Rent Guarantee program. They covered the lost rent for nine months, which was the duration it took to evict the tenant. SingleKey managed the entire legal process for me, covering all my legal and court fees. If it weren’t for their support, I would have faced a $30,000 loss in rent and legal costs. I highly recommend this program to any small landlord. William L. November 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. What is included in the Rent Guarantee Program? The Rent Guarantee Program includes:Guaranteed rental income for up to 12 months or $60,000 per leaseDamage protection from malicious tenant damage up to $10,000 per leaseLegal fees incurred during the eviction process covered up to $2,0002 FREE Tenant Reports when you pay annually What happens when tenants miss their rent payment? 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. What happens if the tenant causes damage or vandalizes my property? In the case of negligent or wilful property damage by the tenant, please notify us within the next business day and you will be reimbursed up to $10,000 of damages if the tenant refuses to pay. What documents do you need to start the Rent Guarantee? To start the Rent Guarantee, we need the following documents:A SingleKey Tenant Screening Report for each tenantRecent proof of income in the form of recent pay stubs, bank statements, or an employment letterNote that a valid signed lease agreement is only required after the Rent Guarantee is approved by our team.We also recommend that the landlord performs a pre-inspection report, including images of the property detailing the condition of the unit prior to the tenant moving in. Landlord or home  insurance is also required. What are the Tenant Eligibility Requirements? 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 50% of tenant’s gross household-income. Do you guarantee both existing and new tenants? 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 on time. Who guarantees the SingleKey Rent Guarantee program? The SingleKey Rent Guarantee program is backed by Pensio Global, and is secured by a performance bond issued by global insurers rated A.M. Best A-. Read more on the Knowledge Base Read more Rent Guarantee Protect your rental income Rent your property—leave the risks to us. In case of delinquency, property damage or eviction, Rent Guarantee gives homeowners ultimate peace of mind with financial backups and legal support. Get a quote Get started Why Rent Guarantee? Tenant troubles can cost a lot. Tenants stop paying rent for plenty of reasons: job loss, relationship turmoil, health issues, cash flow problems… the list goes on. Whatever it is, Rent Guarantee can take on the risks so you never have to worry about loss from rent arrears, eviction costs, or property damage. -$16,000 Average cost of tenant evictions paid by homeowners -$1,250 Average cost of legal, court and bailiff fees on delinquent tenants 6-10 months Time to evict a tenant (varies by state) Learn more Download the brochure Rent Guarantee by SingleKey Take the risk stress loss out of renting When you can’t rely on tenants to cover your mortgage payments, Rent Guarantee steps in with financial backups and legal support so you don’t have to worry. Rental income guarantee In case of delinquency, we’ll cover up to 12 months’ rent (up to $60,000). Lease break protection Get 30 days of rent paid if your tenant leaves without notice. Property damage protection We will reimburse unpaid court-ordered malicious tenant damages up to $10,000. Legal support & eviction resolution In case of eviction, our paralegal team will support you throughout the process, with legal fees reimbursed for up to $2,000. Tenant Report Every Rent Guarantee subscription comes with 2 Tenant Reports so you can screen potential tenants with confidence. Administrative Support Our dedicated support team will walk you through the entire process and help troubleshoot any issues. Book a call Explore our reviews Getting Started Get guaranteed in 4 steps Fill in some details to get your tenant approved right away. It’s that easy. Setting up Required documents Getting qualified Getting reimbursed Setting up Create an account Enrol in Rent Guarantee by sharing some information about your unit and your tenant(s). Get your tenant approved Upload a few documents to start the tenant approval process, including their tenant report and proof of income. See Qualification Criteria Start your coverage After you’ve submitted the required information and documents, we’ll reach out shortly with your finalized Rent Guarantee Agreement. Required documents For new tenants New tenants with less than 12 months on the lease are required to submit the following documents: A full Equifax or Transunion credit report, or SingleKey Tenant Report Proof of income, including: employment letters, pay stubs, tax forms or bank statements. For mid-lease tenants Mid-lease tenants with over 12 months on the lease are required to submit the following documents: Proof of rent payment for the past few months Tenant credit report or SingleKey Tenant Report (optional, but preferred) Proof of income (optional, but preferred) Getting qualified Tenant requirements Tenants are qualified to be covered by Rent Guarantee if they have: No bankruptcy or previous eviction on a credit report in the past three years At least one employed member in the household A Rent-to-Gross Household Income Ratio not exceeding 50% *Tenants will not be assessed based on their credit score Owner & property requirements Owners can get their property/properties covered by Rent Guarantee if they can provide proof of the following: The property is a legal rental unit They have a valid lease signed with a tenant To claim property damage, a move-in checklist or pre-inspection pictures Getting reimbursed Tell us what happened Rent Guarantee Default: Notify us in writing within three (3) business days of a tenant default on rent. Willful Damage: Notify us in writing within ten (10) business days of finding property damage by your tenant. Attach required documents Submit your claim from your SingleKey account or send us a note at info@singlekey.com to receive your next steps. See Required Documents Submit your claim Submit your claim from your SingleKey account or send us a note at info@singlekey.com to receive your next steps. Book a call Pricing Pay monthly. No hidden fees. Get everything covered for a low percentage of your monthly rent. Plus, save extra when you pay annually. 5% of monthly rent amount, paid annually or 5.5% when you pay monthly Includes: Guaranteed Rent Damage Protection Legal Fee Coverage Vacancy Protection Administrative Support 2 Free Tenant Reports Guaranteed Rent Damage Protection Legal Fee Coverage Vacancy Protection Rent Collection (Optional) 2 Free Tenant Reports Book a call Hear From Our Users Relax with Rent Guarantee Hear from real homeowners how Rent Guarantee kept them protected. Book a call Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. Ali Landlord Let SingleKey cover lost rent and guide you through an eviction with professional legal support. Arjit Landlord Find peace of mind and the confidence to rent as a first-time landlord with SingleKey’s Rent Guarantee. As seen in The Reviews Are In “Brilliant model that protects you from any uncertainty of not getting your rent.” “Brilliant model that protects you from any uncertainty of not getting your rent. Loved the overall support. My account manager even responded to my requests on weekends! SingleKey gives me peace of mind!” Maunil Parikh SingleKey Customer “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “I used SingleKey for tenant verification and background check. I am impressed with the service I got and have signed up for Rent Guarantee. It’s an insurance for landlords for rent and seems like a great option. I hope I don’t have to use the benefits or leverage Rent Guarantee program but at least have a peace of mind that I will be covered in case needed.” Faisal Saeed SingleKey Rent Guarantee Customer See all reviews Rent Guarantee FAQ In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. Book a call What is included in the Rent Guarantee Program? The Rent Guarantee Program includes:Guaranteed Rental income for up to 12 months or $60,000 per leaseDamage protection from willful tenant damage up to $10,000 per leaseLegal Fees incurred during the eviction process covered up to $2,000Administrative Support2 FREE Tenant Credit & Background Checks What happens when tenants miss their rent payment? 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. What happens if the tenant causes damage or vandalizes my property? In the case of negligent or wilful property damage by the tenant, please notify us within the next business day and you will be reimbursed up to $10,000 of damages if the tenant refuses to pay. What documents do you need to start the Rent Guarantee? To start the Rent Guarantee we need the following documents:1. Credit Report for each tenant – we can help with this2. Proof of income in the form of recent paystubs, recent tax returns, bank statement or employment letter3. Valid signed lease agreementWe 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 What are the Tenant Eligibility Requirements? 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 50% of tenant’s gross household-income. Do you guarantee both existing and new tenants? 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 on time. Related Posts Stress-free renting starts here. Experience no-risk renting, only from SingleKey. Book a call Discover our reviews --- ### Tenant Report [Tenant Report](https://www.singlekey.com/en-us/tenant-report/) Date: January 18, 2023 Author: SingleKey Content: Screen tenants smarter and faster Choose your ideal tenant with Canada’s preferred tenant screening report. Get detailed insights in minutes and rent with confidence. Start screening See sample report Powered by Trusted by over 135K landlords in the industry Only SingleKey helps you screen tenants confidently Experience Canada’s leading tenant screening platform. Comprehensive report Don’t miss out on any potential red flags. SingleKey provides you with all the key information. Easy to understand Clear and actionable reports that are visual, summarized and easy to read. Quick & easy to order Order in only 3 simple steps, and get your report back in as little as 5 minutes. Start screening TENANT REPORT FEATURES Everything you need to make informed rental decisions A complete picture of your tenant  Choose between a full credit check from Equifax®, TransUnion®, or both credit bureaus. You'll get access to key credit, employment, and rental history to evaluate your rental applicant’s financial status and reliability as a renter. Learn more See example Easy online rental application Invite your tenant to complete an online rental application and quickly collect their personal details, employment info, proof of income documents, references, and credit check consent. Preview rental application See example Eviction and public record history Protect yourself from a lengthy eviction by getting your applicant’s eviction records sourced from Openroom, SOQUIJ, and CanLII. Plus, find out if they have an existing fraud or criminal history. Learn more See example Social media insights Each Tenant Report includes a scan of publicly available social media profiles, allowing you to compare results with tenant-provided details and verify important aspects like employment history from LinkedIn. See example Income document analysis PDF files provided on the rental application are scanned for signs of tampering. Key details are extracted and automatically checked against the information provided on the rental application. Learn more See example Smart identity verification Make sure the credit check is being run for the right person. Our AI-enabled tool confirms an applicant’s identify by cross-referencing a liveness check (selfie) and their uploaded ID. Learn more See example Over 900 five star reviews How it works Start screening in minutes Get a Tenant Screening Report and discover essential tenant insights in 3 easy steps. Select the type of report Choose between an Equifax®, TransUnion®, Dual Credit Report, or International Credit Check . Invite the tenant to apply An automated email will be sent to the tenant to complete an online rental application. Choose who pays Pre-pay for the Tenant Report, or invite your tenant to pay. Credit and debit cards accepted. Start screening Have questions? Need help with ordering a report? Watch this step-by-step guide on how to order a Tenant Screening Report in less than a minute! You're in good company 147K+ Homeowners 9K+ Real estate agents 1,000+ Property managers 523K+ Tenants screened product demo See the Tenant Screening Report in action Summary Rental application Credit check Public record search Income & employment Reference check Document fraud check Tenant ID verification Video on how to read the report How to read the report See interactive sample report PRICING Start with a Single or Dual Report Customize your tenant screening report with no sign-up or subscription fees—just a simple flat rate. Single Bureau Report OR $29.99   / report Order now What's included: Equifax® or TransUnion® credit check Online rental application Eviction history and public record search Income and employment verification ID and income document verification See sample report Dual Bureau Report AND $44.99   / report Order now What's included: Everything from the Single Bureau Report Run both Equifax® and TransUnion® credit checks Get the full picture and don’t miss any potential red flags Save 25% when you run both credit reports See sample report Why get both? Interested in screening an international tenant? Customize your Tenant Screening Report to fit your needs. Start screening Learn more A full suite to help you rent risk free Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Try for free Learn more Reference check calls Pre-screen interested leads by asking key questions before proceeding to viewings. Learn more Draft and sign leases Once you’ve found your perfect tenant, invite them to sign a lease with eLease. Powered by Try for free Learn more ADDITIONAL FEATURES More than just a credit check Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Pets and vehicles Learn about if the applicant has any pets or if they will require parking spaces. Rent-to-income ratio Quickly assess tenant affordability by looking at their rent-to-household income ratio. Debt payment history Access 48 months of payment history to review a tenant’s past payment behavior. Eviction history Find out if a tenant has been previously evicted or if they have a criminal record. Automated reference check Save time with reference check emails sent to previous landlords. Income document verification We scan paystubs that tenants upload for signs of tampering to prevent fraud. Identity verification Determine if the tenant’s monthly debt payments are too high to afford rent. Anti-fraud features Scan QR code on the report so you can get the credit data straight from the source. Start screening have questions? Speak with a real person Our top-rated Customer Success Team is here to help. Based in Toronto, our friendly representatives are dedicated to providing personalized support. Whether you have questions about our products or need technical guidance, we’re ready to assist. Live support hours are from 8 a.m. to 7 p.m. EST on weekdays and 10 a.m. to 2 p.m. EST on Saturdays. Get in touch See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Where are you located and what is the Area of Service? We have offices in Toronto, ON and Vancouver, BC. We serve all of the U.S. and Canada including Quebec.For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.

As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.Read our full guide on how to read the SingleKey Tenant Report. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account. After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections. Read more on the Knowledge Base Read more --- ### Tenant Report [Tenant Report](https://www.singlekey.com/en-us/tenant-report/) Date: January 18, 2023 Author: SingleKey Content: Screen tenants smarter and faster Choose your ideal tenant with the fastest tenant screening report. Get detailed insights in minutes and rent with confidence. Start screening See sample report Powered by Trusted by over 135K landlords in the industry Only SingleKey helps you screen tenants confidently Experience our market leading tenant screening platform. Comprehensive report Don’t miss out on any potential red flags. SingleKey provides you with all the key information. Easy to understand Clear and actionable reports that are visual, summarized and easy to read. Quick & easy to order Order in only 3 simple steps, and get your report back in as little as 5 minutes. Start screening TENANT REPORT FEATURES Everything you need to make informed rental decisions A complete picture of your tenant  Run a full credit check from Equifax® and get access to key credit, employment, and rental history to evaluate your rental applicant’s financial status and reliability as a renter. See example Easy online rental application Invite your tenant to complete an online rental application and quickly collect their personal details, employment info, proof of income documents, references, and credit check consent. Preview rental application US National Criminal Check The US National Criminal Check includes SSN Trace, National Criminal Record Database Check, National Sex Offender Registry Check, and Global Sanctions and Terrorist Watchlist, with a 7-year look-back period. See example Social media insights Each Tenant Report includes a scan of publicly available social media profiles, allowing you to compare results with tenant-provided details and verify important aspects like employment history from LinkedIn. See example Income document analysis PDF files provided on the rental application are scanned for signs of tampering. Key details are extracted and automatically checked against the information provided on the rental application. Learn more See example Smart identity verification Make sure the credit check is being run for the right person. Our AI-enabled tool confirms an applicant’s identify by cross-referencing a liveness check (selfie) and their uploaded ID. Learn more See example Over 900 five star reviews How it works Start screening in minutes Get a Tenant Screening Report and discover essential tenant insights in 3 easy steps. Fill out the basics Share some info about your tenant, or invite them to fill out their details. Pay online Pay for your Tenant Report with a credit card, or ask your tenant to submit their own payment. Get your report Sign up and verify your identity online. The report will be available for secure access in your SingleKey portal. Start screening Have questions? Need help with ordering a report? Watch this step-by-step guide on how to order a Tenant Screening Report in less than a minute! You're in good company 147K+ Homeowners 9K+ Real estate agents 1,000+ Property managers 523K+ Tenants screened product demo See the Tenant Screening Report in action Summary Rental application Credit check US National Criminal Check Income & employment Reference check Document fraud check Tenant ID verification Video on how to read the report How to read the report See interactive sample report PRICING No subscriptions or signup fees Only pay per tenant report that you run Tenant Screening Report $29.99   / report Order now Powered by What's included: Equifax® credit check Online rental application US National Criminal Check Income and employment verification ID and income document verification No sign-up fees or subscription fees! Pay per report only. See sample report A full suite to help you rent risk free Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Try for free Learn more Reference check calls Pre-screen interested leads by asking key questions before proceeding to viewings. Learn more ADDITIONAL FEATURES More than just a credit check Pre-screen leads Pre-screen interested leads by asking key questions before proceeding to viewings. Pets and vehicles Learn about if the applicant has any pets or if they will require parking spaces. Rent-to-income ratio Quickly assess tenant affordability by looking at their rent-to-household income ratio. Debt Payment History Access 48 months of payment history to review a tenant’s past payment behavior. US National Criminal Search Find out if a tenant has a criminal record to ensure the safety of your residents. Automated reference check Save time with reference check emails sent to previous landlords. Income document verification We scan paystubs that tenants upload for signs of tampering to prevent fraud. Identity verification Determine if the tenant’s monthly debt payments are too high to afford rent. Anti-fraud features Scan QR code on the report so you can get the credit data straight from the source. Start screening have questions? Speak with a real person Our top-rated Customer Success Team is here to help. Our friendly representatives are dedicated to providing personalized support. Whether you have questions about our products or need technical guidance, we’re ready to assist. Live support hours are from 8 a.m. to 7 p.m. EST on weekdays and 10 a.m. to 2 p.m. EST on Saturdays. Get in touch See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews FREQUENTLY ASKED QUESTIONS In case you’re wondering... Find answers to frequently asked questions, or get in touch to learn more. Where are you located and what is the Area of Service? We provide nationwide coverage across all 50 U.S. states and Canada. For the U.S., we currently provide our Tenant Reports and Rent Guarantee Program. The Rent Collection tool is currently unavailable.  How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.

As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. What is included in the public documents scan? The public documents scan is a real-time public document search of over 200,000 databases looking for criminal records, court decisions, past evictions, negative press, social media profiles, public biographies, past employment and more.Read our full guide on how to read the SingleKey Tenant Report. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections. Read more on the Knowledge Base Read more Tenant Report Screen tenants smarter & faster Choose the right tenant every time with the most comprehensive tenant screening & public record search. Order now, get results in minutes. Sign up and order in 3 steps Get results in less than 5 minutes! Tamper-proof reports, sent directly to you Enterprise solutions available Powered by Tenant report ???????? $29.99 / applicant Start screening See sample report Equifax® credit check US National Criminal Check Income & employment verification Online rental application ID Verification Tenant Report by SingleKey One report is all you need Get all the facts you need to choose the right tenant. Every Tenant Report includes a credit check, US Criminal Check, and a full rental application.  Equifax® credit report You'll get a credit score and full credit history data—one of the best indicators of a tenant’s financial status and payment history. US National Criminal Check The US National Criminal Check package includes SSN Trace, National Criminal Record Database Check, National Sex Offender Registry Check, and Global Sanctions and Terrorist Watchlist Check, all with a 7-year look-back period. Results are limited to felony and misdemeanor convictions and pending cases. County searches verify information at the Predominantly Used Index (PUI) for the county. Online rental application In addition to employment info from Equifax, tenants are asked to provide employment references and to upload proof of income (e.g. recent pay stubs) when completing our online rental application.  Income & employment verification We help you collect employment references and proof of income during the online rental application process so that you can verify a tenant's employment status and income. ID Verification We'll confirm your rental applicant's identity to ensure they match the details on their application. Additional Features Smart shortcuts. Faster screening. Save time and effort with additional features built into every Tenant Report. Complete household profile Collect additional household details in one snapshot, including the number of renters, vehicles, pets, and income summaries. Verified references SingleKey automatically sends out reference requests to tenants’ previous landlords. Completed references are then sent directly to you and cannot be accessed by tenants. Pre-screening form Quickly filter applications with our free pre-screening form. The customizable form includes questions on finances, personal habits, and desired lease terms.See an example Order a report Ordering Your Report Order now. Get results in minutes. Getting your Tenant Report is secure, easy, and only takes minutes. Fill out the basics Share some info about your tenant, or invite them to fill out their details. Pay online Pay for your Tenant Report with a credit card, or ask your tenant to submit their own payment. Get your report Sign up and verify your identity online. The report will be available for secure access in your SingleKey portal. Order a report As seen in The Reviews Are In “SingleKey is a MUST for all landlords for all landlords for their screening process.” “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer Tenant Report FAQ In case you were wondering... Find answers to our frequently asked questions, or get in touch to learn more. See all FAQ Is this service available in all 50 states? Yes, SingleKey offers comprehensive tenant screening services and a rent guarantee program, available in all 50 states across the USA. How does the pricing work? We only charge one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. What information do I need to order a report? To order a tenant credit report, you have 2 options:Option 1: INVITE TENANTEmail a tenant the application form to collect their information. The tenant then fills out their information and gives consent to run the credit report. We then run the report and notify you when it’s ready.Option 2: ENTER TENANT INFORMATIONIf you have the tenant’s information and their consent, you can enter the tenant’s information and get the results back within 5 minutes. To run the report, you will need the tenant’s legal name, address, and date of birth. Will this affect a tenant's credit score? The credit inquiry will appear on the applicant’s credit file, however it will not have a significant impact on their credit score, since this is not a credit application. Is my data secure? Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy.  How do I create an account? You can use this link to create an account.After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. Can I order a report for myself? Absolutely! Just hit Order Now, select the ‘Enter Tenant Info’ option, and then enter your information. Note that you will have to enter your name and email address twice under ‘Your Information’ and ‘Tenant information’ sections.  Related Posts Find the perfect tenant for your place. Choose smart and rent safe with the #1 tenant report in the United States.  Start screening --- ### Homepage [Homepage](https://www.singlekey.com/en-us/homepage/) Meta: Trusted by 150,000+ homeowners. Renting gets unpredictable. Protect your rental income with SingleKey’s risk mitigation solutions for homeowners, rental businesses, and tenants. Date: January 18, 2023 Author: SingleKey Content: Rent with confidence Screen applicants, find the ideal tenant for your rental unit, and ensure your rental payments are guaranteed every month. Create a free account Trusted by: Take the risk out of renting in 2 easy steps Screen and manage risks all in one integrated platform. STEP 1 Run a comprehensive Tenant Screening Report Combine a full credit check by Equifax with in-depth, employment and income info to get a comprehensive picture of your potential renters. Powered by Explore tenant screening STEP 2 Guarantee your rental income Stop worrying about having to pay a second mortgage. In case of missed rent payments, property damage, or an eviction, the Rent Guarantee takes on tenant risks and gives you financial and legal support. Explore rent guarantee Who is this for? Our integrated platform takes you from lead to lease. Collect, qualify, and manage your risks with SingleKey. For landlords For property managers For realtors For tenants For landlords Stop worrying about having to pay a second mortgage. In case of missed rent payments, property damage, or an eviction, the Rent Guarantee takes on tenant risks and gives you financial and legal support. A complete overview of a potential tenant’s credit, rental, and employment history in one easy-to-understand summary A streamlined, online tenant selection process that guides you from collecting leads to signing the lease Built-in tools to prevent rental fraud and reduce the risk of tenant defaults Sign up for a free account For property managers Make tenant screening more efficient and focus on the property management tasks that help you operate your properties more profitably. Get more done with less: Quickly vet and select tenants for your properties with our comprehensive Tenant Screening Report. Our priority assistance service gives you the support you need without the wait—at no extra cost. Unlock volume pricing when you regularly run more than 10 reports per month. Sign up for a free account For realtors Protect your clients. Find trustworthy tenants for your clients. Protect clients with financial & legal backups. Enjoy exclusive partner perks. Sign up for a free account For tenants Stand out in a competitive rental market with guarantor services and a shareable rental application. Show housing providers you’re a tenant they can trust with SingleKey as your guarantor. Newcomers, students, and those with low credit have a better chance at getting approved for their lease when they’re backed by us. Share your credit report with as many potential landlords as you need—without impacting your credit score. Sign up for a free account You're in good company 147K+ Homeowners 9K+ Real estate agents 1,000+ Property managers 523K+ Tenants screened What is the cost? Pre-screening FREE Pre-screen interested leads by asking key questions before proceeding to viewings. Try for free Tenant Screening STARTING AT $29.99 / report Find your ideal tenant with a verified and comprehensive credit, rental, and employment history. Start screening Rent Guarantee STARTING AT 5% / monthly rent per tenant Protect yourself against unpaid rent, eviction fees, and damage costs. Protect your income have questions? Speak with a real person Our top-rated Customer Success Team is here to help. Our friendly representatives are dedicated to providing personalized support. Whether you have questions about our products or need technical guidance, we’re ready to assist. Live support hours are from 8 a.m. to 7 p.m. EST on weekdays and 10 a.m. to 2 p.m. EST on Saturdays. Get in touch See why we're ranked first among homeowners I had a tenant break their lease a month early, and SingleKey stepped in to cover the lost rent for that month (Rent Guarantee Service). The process was straightforward, and the payout was prompt. It's reassuring to know that I have this kind of support as a landlord. Highly recommend! Devin J. September 2024 Great service for landlords - especially tenant screening and education/knowledge parts of it. Customer service is very responsive and helpful. I've been a paying client of SingleKey for 2 years and will continue using this platform. Daniel B. August 2024 The agent Rahi spent nearly an hour with me, a senior, while I completed the forms online. He was so friendly, knowledgeable and patient as he walked me step by step through the process. Please recognize Rahi's efforts as extraordinary, excellent customer service skills and an overall gentleman. Titanic thanks! Danielle B. October 2024 very easy to use, I am a Realtor®, and I have used this for vetting tenants. The report is very indepth and helps me stay Fintrac Compliant. Keith J. October 2024 SingleKey is a great tool for Landlords. Especially with all the fraudulent documents we are receiving these days. The roll out of the international credit checks is an amazing addition to an already great tool. Jonathan C. June 2024 I've been using SingleKey for over a year now and it is seamless. And, on the few times I needed support, they responded promptly and were able to resolve my issue quickly. Thanks SingleKey for all of your help! Jacob H. May 2024 See all reviews Risk-free renting. Finally. Renting gets unpredictable. Protect your rental income with SingleKey’s risk mitigation solutions for homeowners, rental businesses, and tenants. Sign up for free Trusted by 125,000+ homeowners Meet SingleKey Start-to-finish rental protection Take the risk out of renting in 2 easy steps. Here’s how. Tenant Report Rent Guarantee Step One Choose safe tenants Screen your tenants faster and smarter than any credit check. Our comprehensive Tenant Report gets you results in minutes, and includes credit, social, background, and reference checks. Step Two Guarantee your income In case of tenant defaults, Rent Guarantee backs you with a financial safety net, legal support, and damage protection. Renting, Reimagined Relax, you’ve got SingleKey No matter where you stand in the rental market, we’ve got a solution to take the stress out of renting. For homeowners For property managers For realtors For homeowners Rent your place, risk-free Find tenants you can trust Help tenants build their credit score Get financial & legal backups the entire time Learn more Tenant Report Rent Guarantee Sign up for free For property managers Fill units faster & safer Speed through tenant screenings with the fastest report in the U.S. Free up time with seamless API integrations (No more forms to fill!) Enjoy exclusive partner perks & volume discounts Discover the benefits For realtors Keep your business thriving Find trustworthy tenants for your clients Protect clients with financial & legal backups Enjoy exclusive partner perks & volume discounts Discover the benefits You're in good company Come join our fast-growing community. Today, we’re proudly serving: 125,000+ Homeowners 400,000+ Tenants 6,500+ Real estate agents 650+ Enterprise property managers Powered by people & passion SingleKey is changing the way renting is done. Learn how we’re fostering better homeowner-tenant relationships through thoughtful products built with purpose. Explore our reviews As seen in The Reviews Are In “This company is a game-changer.” “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field." a-a SingleKey Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer See all reviews Start risk-free renting today. Rent safer and happier than ever with SingleKey. Sign up for free Discover our reviews --- ## EN-US Posts ### A Guide on Short-Term Rental Properties in Hawaii [A Guide on Short-Term Rental Properties in Hawaii](https://www.singlekey.com/en-us/near-me/hawaii/a-guide-on-short-term-rental-properties-in-hawaii/) Meta: Discover insights into short-term rental properties in Hawaii and how new laws tightening regulations on vacation rentals may come into effect as soon as July. Date: May 17, 2024 Author: SingleKey Content: Hawaii is an island group in the Central Pacific renowned for its sacred land. These volcanic islands are tropical paradises with lush natural beauty and a unique, rich history. From the fertile, green valleys to the coffee plantations, each island offers a distinct, memorable experience.As we delve into the land of short-term rentals on the Hawaiian Islands, we'll explore everything you need to know, from the evolving rules to tax deductions.What’s considered a short-term rental?Short-term rentals are lodging options typically leased for fewer than 30 days, ideal for travelers seeking temporary accommodation. These rentals are commonly listed on online platforms such as Airbnb and VRBO, catering to tourists and business travelers alike.In Maui County, transient vacation rentals accommodate stays of fewer than 180 days. These transient vacation rentals often include apartment units and single-family homes. They must be located in approved zoning areas or have obtained a conditional permit. A bed and breakfast is permitted when the guests stay in a room within the property owner's or manager's primary residence.Are short-term rentals allowed in Hawaii?In Hawaii, a new bill close to becoming law could completely change how vacation properties are regulated across the state. Hawaii is experiencing a housing crisis, especially after the wildfires Maui endured in August 2023.This legislation would grant every county in Hawaii the authority to establish new regulations, potentially converting STRs into long-term residences. If the governor signs it, the law will start on July 1, 2024.Anyone who breaks these rules could be fined $10,000 a day. This is significant because it's the first time a law about short-term vacation rentals could be enacted across the entire state.Hawaii's housing shortage stems from the prevalence of vacation properties, which has driven up costs for locals. This new law seeks to prioritize long-term housing for residents over short-term accommodations for tourists.How do I report rental income for my short-term rentals?To report your earnings and pay transient accommodations taxes, use Forms TA-1 (periodic TAT return) and TA-2 (annual TAT return). Form TA-1 must be filed monthly, quarterly, or semiannually, while Form TA-2 is filed annually.Schedule E is a U.S. form for reporting extra income and losses, covering rental real estate, royalties, and S corporations.N-15 is Hawaii's individual income tax form, encompassing various schedules for income, deductions, and credits, but it doesn't target rental income as specifically as Schedule E does. Learn how to report your income taxes with a Schedule E Form. Follow these three steps to help break down the process.Step 1: Gather the proper formsGather all the relevant financial documents, such as income statements, receipts, and expense records, needed to complete the T-1 Form accurately. This form helps vacation rental owners accurately document their rental income for tax purposes.Step 2: Determine if the structure of your business is active or passivePassive income is usually earned from online platforms such as Airbnb and VRBO for your vacation rental. In contrast, active income involves hands-on efforts, like providing guest services, routine cleaning, and maintenance. Earning an extra income with minimal involvement is considered a passive income.Step 3: Reporting rental income with a Schedule E FormComplete the Schedule E Form to report your rental income, including earnings from vacation rental properties. Vacation rental owners can provide detailed information about their rental properties, including any deductible expense incurred.Key tax deductions for short-term rentalsSome expenses not deductible from gross rental income for tax purposes include the cost of repairs, interest expenses, management fees, utilities, property taxes, and insurance premiums. Instead of being deducted, these expenses are considered part of the gross rental income. However, landlords or short-term rental owners may qualify for some exemptions from the Transient Accommodations Tax.FAQ: Short-term rental property tax deductions in Hawaii What is the tax rate in Hawaii? The sales tax for all guest rooms and suites includes the Hawaii State General Excise Tax at 4.712%. The Hawaii TAT rate on your gross rental proceeds is 10.25%, and the Oahu Transient Accommodations Tax is 3%, totaling a combined rate of 17.962%. Are there vacation rental regulations for operating an STR in Hawaii? Kauai County permits short-term rentals if the property is within designated zones or has a Transient Vacation Rental (TVR) permit, known as a non-conforming use certificate (NUCs). In Honolulu County, STRs may only be allowed in resort-zoned areas. In Maui County, transient vacation units must be in approved zones or have obtained a conditional permit. It’s essential to check each island’s laws. What is the current state of the vacation rental industry in Hawaii? The Hawaii vacation rental market is undergoing changes that will impact short-term rentals in 2024. Lawmakers may regulate short-term rental operations and may only allow long-term rentals. Our final thoughtsStay informed about Hawaii's impending short-term rental regulations, and explore our guide to discover the benefits of long-term leasing options. --- ### A Guide to Short-Term Rental Tax Deductions in Wisconsin [A Guide to Short-Term Rental Tax Deductions in Wisconsin](https://www.singlekey.com/en-us/near-me/wisconsin/a-guide-to-short-term-rental-tax-deductions-in-wisconsin/) Meta: Discover how to maximize short-term rental tax deductions in Wisconsin with this comprehensive guide, ensuring you earn the most from your rental property investment. Date: May 17, 2024 Author: SingleKey Content: Wisconsin, known for its dairy production, boasts two Great Lakes––Michigan and Superior––stunning natural beauty, and a trendy brewing culture.Learn how to maximize your tax deductions on short-term rentals (STRs) in America's Dairyland.What’s considered a short-term rental?Rental property owners who lease out rooms, homes, cabins, or other short-term lodging for overnight stays to the public for a fee must adhere to specific laws and regulations mandated by the state of Wisconsin. Short-term rentals are lodgings rented for fewer than 30 days. They are popular among tourists and business travelers seeking temporary accommodations and are often listed on platforms like Airbnb and VRBO.When should I report my rental income for my short-term rental?The tax year extends from January 1 to December 31, with tax returns usually due by April. The Internal Revenue Service (IRS) considers earnings from STRs taxable income. Accurate income reporting is essential to avoid audits. Consult a tax expert for advice on additional forms, like the W-9 Form, which are needed for platforms like Airbnb and VRBO.Do I always need to report rental income?You always have to report earnings to the IRS. However, there is a 14-day rule that exempts you from treating your property as an income-generating rental property for tax purposes.If guests lease your vacation rental properties for more than 14 days annually, you must report these earnings as the IRS considers them taxable income.How do I report rental income for my short-term rentals?Use the Schedule E Form 1040 or the Form 1040-SR for individuals 65 and older. Our guide will help you understand accurate rental income reporting with the Schedule E Form. It covers everything, from estates and trusts to real estate investment conduits.These three steps will help you get started on reporting with a Schedule E:Step 1: Gather the proper formsMaintaining written records of all your rental activities, including costs related to repairs and maintenance, is essential. Simplify reporting by compiling an itemized list of deductions to include on the 1040 Form.Step 2: Determine if the structure of your business is active or passiveYour STR income's classification as passive or active depends on your management involvement. Active income includes hands-on tasks like bookings and maintenance, while passive income requires minimal involvement, such as hiring a property manager or using Airbnb. This distinction can affect tax treatment and deductions.Step 3: Reporting rental income with a Schedule E (Form 1040)The 1040 Form will help you declare your income and itemize deductible expenses. If you rely on Airbnb for rental promotion and tax remittance, you may need to submit a W-9 Form to Airbnb before filing your 1040 with the IRS.Key tax deductions for short-term rentalsWisconsin short-term rental tax deductions may cover property upkeep, utilities, insurance, management, cleaning, advertising, and mortgage interest. Additionally, you may be eligible to deduct expenses for furnishings, supplies, property taxes, and depreciation. Seek advice from a Wisconsin tax professional to maximize deductions and stay compliant.FAQ: Short-term rental property tax deductions in Wisconsin What are the sales taxes in Wisconsin? Guests who book Wisconsin vacation rentals through an online platform like Airbnb or VRBO will pay the following taxes:5% sales tax rate in Wisconsin0.5% county tax under certain county regulations3% basic room tax in Milwaukee County and a 7% additional room tax in the City of MilwaukeeIn Green Bay, the room tax rate is 10% of the listing price, including cleaning and guest fees. In Racine, the room tax is 8%. Are there regulations for operating an STR in Wisconsin? Property owners operating short-term vacation rentals or tourist rooming houses must obtain a permit. Tourist rooming houses include vacation homes and exclude private boarding homes or bed and breakfasts in Wisconsin.Operators can rent up to four units under a tourist rooming house license. Five or more units require a hotel license. Licenses issued by the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) expire on June 30 yearly. License dates run from July 1 of one year to June 30 of the following year. If a license is granted after April 1, it extends to June 30 of the following year. Renewal fees are due before June 30 each year for existing establishments.The license fee is $110. Are there specific rules in each city for STRs in Wisconsin? Wisconsin short-term rental properties may have varying and developing rules in each city. Property owners need to stay abreast of emerging laws on STRs.  Our final thoughtsRenting out a short-term rental property can be lucrative, particularly if you leverage tax deductions effectively. If you're on the fence about whether to manage a traditional long-term rental or short-term rental business, our guide can assist you in determining the best plan for you.  --- ### A Guide to Short-Term Rentals in Michigan [A Guide to Short-Term Rentals in Michigan](https://www.singlekey.com/en-us/near-me/michigan/a-guide-to-short-term-rentals-in-michigan/) Meta: Discover the ins and outs of short-term rentals in Michigan. Learn about regulations, taxes, and maximizing profits by claiming the most deductible expenses. Date: May 13, 2024 Author: SingleKey Content: The Great Lakes State is known for its museums and historical sites, Detroit's urban art, and the serene shores of Michigan's Upper Peninsula.If you're considering turning your primary residence into a vacation haven or have an apartment unit you wish to advertise on VRBO or Airbnb, learn how to get the most from your tax deductions on short-term rentals.What’s considered a short-term rental?A short-term rental (STR) is a home or unit leased to individuals for fewer than 30 consecutive days. Most people use Airbnb to advertise their property, collect and remit taxes, and provide a log of earnings. When should I report the rental income for my short-term rental?The U.S. tax year typically commences on January 1 and concludes on December 31, with annual individual tax filings expected by April 15. Remember, any rental income you earn is subject to taxation.Do I always need to report rental income?According to the 14-day rule, if you rent out your property for 14 days or less during the tax year, you don't need to report the rental income on your tax return, and you may not deduct rental expenses.How do I report rental income for my short-term rentals?To report earnings on your vacation rental property, use either the Schedule E Form 1040 or the Form 1040-SR, designed for seniors aged 65 and older.Follow these steps to report rental income using a Schedule E 1040 Form.Step 1: Gather the proper formsMake sure you gather all the required forms for Schedule E. These forms are essential for reporting your rental income and any related expenses accurately. By ensuring you have all the necessary paperwork, you can streamline the process of reporting your earnings and deductions during tax time.Step 2: Determine if the structure of your business is active or passiveIn rental property ownership, it's essential to determine if you are earning an active or passive income stream. This will help you list your deductible expenses.Passive income typically involves minimal effort in leasing out properties, while active income entails hands-on guest services management that qualifies as a business.Step 3: Reporting rental income with a Schedule E (Form 1040)If you list your vacation property on Airbnb, send a W-9 Form to Airbnb. If you skip this step, the company can legally withhold 28% of your rental income for taxes during the entire tax year. Your actual tax liability on rental income will be less than 28%. Once you've submitted the W-9 Form to Airbnb, report your earnings and deductible expenses on your 1040 Tax Form.Explore our guide for more detailed information on how to report your rental income using a Schedule E 1040 Form.Key tax deductions for short-term rentalsHomeowners can deduct various expenses, including certain depreciation deductions, mortgage interest rates, and other relevant rental costs. Consulting with a tax professional is highly recommended to ensure you identify and take advantage of all available tax benefits.Here's a breakdown of potential deductions you might qualify for, whether you're earning passive income or actively managing rental operations:Real estate mortgageTravel expensesRental expensesMaintenance deductionsBusiness expensesMichigan residents may qualify for the state's Homestead Property Tax Credit, which can help them pay some of their property taxes if they are qualified Michigan homeowners or renters and meet the requirements. They should complete the Michigan Homestead Property Tax Credit Claim MI-1040CR to see if they qualify for the credit.FAQ: Short-term rental property tax deductions in Michigan What is the lodging sales tax in Michigan? The Michigan lodging tax is 6%, including the cleaning fee, for reservations lasting 30 nights or less. Accommodations such as hotels, trailer camps, tourist camps, and rooming houses are subject to a 9% lodging tax. Is rental income taxable in Michigan? Yes, if a property owner rents their home for longer than 15 consecutive days annually.  Is rent tax deductible in Michigan? Those renting a home, and sometimes vacation rental property, can get a tax break called a credit. This credit is based on a percentage of the rent they paid. So, if you rent a place, you might get some money back on your taxes based on how much rent you paid. Our final thoughtsRenting out a short-term rental property can yield significant profits, particularly when leveraging tax deductions related to rental activity and property taxes. Unsure about managing a long-term rental or a property with shorter leasing periods? Consult our guide to find the best fit for your situation. --- ### Short-Term Rental Tax Deductions in South Carolina [Short-Term Rental Tax Deductions in South Carolina](https://www.singlekey.com/en-us/near-me/south-carolina/short-term-rental-tax-deductions-in-south-carolina/) Meta: Discover the advantages of short-term rentals in South Carolina, from deductions on rental activity to property taxes. Our guide will help you maximize your profits. Date: May 9, 2024 Author: SingleKey Content: Known for its historic charm and stunning coastline, South Carolina offers a unique blend of southern hospitality and outdoor recreation.As a STR operator in South Carolina, learn how to capitalize on tax deductions.What’s considered a short-term rental?A short-term rental in South Carolina refers to the temporary lodging of a residential property for a fee, typically for fewer than 29 consecutive days. This arrangements caters to individuals looking for accommodations for shorter durations and are usually advertised on online marketplaces like Airbnb and VRBO.When should I report the rental income for my short-term rental?The U.S. tax year begins on January 1 and concludes on December 31, with taxpayers required to report their earnings by April 15 each year. Rental income, whether from long-term leases or STRs, is taxable and must be reported accordingly.Do I always need to report rental income?The 14-day rule, outlined in the U.S. tax code, governs how rental income from properties used personally by the owner is taxed. If you decide to rent out your property for 14 days or less during the tax year, you're in luck—you don't have to report that rental income on your tax return. This rule is a lifesaver for anyone who does not want to commit to a year-round STR business but wants to earn an extra income during holidays. How do I report rental income for my short-term rentals?When reporting earnings from your vacation rental property, you have two options: You can use either the Schedule E Form 1040 or the Form 1040-SR, tailored for seniors aged 65 and older, to report your taxable income. Here's a step-by-step guide to reporting your profits.Step 1: Gather the proper formsEnsure you collect all the necessary forms for Schedule E. These documents are vital for accurately reporting your rental income and any related expenses. By having all the essential paperwork, you can simplify the process of reporting your earnings and deductions. Step 2: Determine if the structure of your business is active or passiveOperating a short-term rental business involves overseeing vacation rental properties and engaging in rental activities similar to property management companies. Responsibilities of property managers and short-term rental operators include:Cleaning and maintenanceCommunicationGuest servicesRepairsAdvertisingHowever, if you have minimal involvement with your rental property, utilize platforms like Airbnb or VRBO, and earn a passive income, this does not qualify as a business endeavor.Step 3: Reporting rental income with a Schedule E (Form 1040)When listing your vacation property on Airbnb, promptly provide a W-9 Form. This step is critical. Failure to do so will result in Airbnb withholding 28% of your rental income for taxes throughout the tax year as mandated by law. However, it's worth noting that your actual tax liability on rental income may be lower than this withholding rate.Key tax deductions for short-term rentalsHomeowners can claim various deductions, including depreciation allowances, mortgage interest rates, and relevant rental expenses. Here's a detailed breakdown of potential deductions homeowners may qualify for: Real estate mortgageProperty taxesTravel expensesRental costsMaintenance deductionsBusiness and rental expensesThe Homestead Exemption grants homeowners over 65, those who are totally and permanently disabled, or those who are legally blind, a total exemption from taxes on the initial $50,000 fair market value of their legal residence.In other words, if you fall in any of the previously mentioned categories, you don't have to pay property taxes on the first $50,000 of your home's value.FAQ: Short-term rental property tax deductions in South Carolina What is the lodging sales tax in South Carolina? Individuals providing sleeping accommodations for vacation rentals in South Carolina must obtain a license and remit the 7% state sales tax and any local sales tax to the South Carolina Department of Revenue. Additionally, they must pay any applicable local accommodations tax.For example, in Charleston County the lodging tax is 2%. In Myrtle Beach, the local accommodation tax rates are 3%. Is rental income taxable in South Carolina? Yes, as long as you earn profits from a rental by leasing your primary residence, home, or rental unit for longer than 14 days, you must report your earnings when income taxes are due.   Is rent tax deductible in South Carolina? Your vacation rental property will qualify for tax deductions if you’ve spent money on property management fees or incurred business expenses. You may also get a tax break if your rental business qualifies as an S Corporation. Consult with an accountant to maximize your refund.  Our final thoughtsRenting out a short-term rental property can be quite lucrative, especially when you take advantage of tax deductions for rental activity and property taxes. If you are unsure if long-term renting is compatible with your work-life balance or if shorter leasing periods are more your speed, read our guide to discover what best suits your situation. --- ### A Guide to Short-Term Rental Tax Deductions in Virginia [A Guide to Short-Term Rental Tax Deductions in Virginia](https://www.singlekey.com/en-us/near-me/virginia/a-guide-to-short-term-rental-tax-deductions-in-virginia/) Meta: Vacation rental owners can claim and capitalize on tax deductions in Virginia when they lease their vacation home rentals for more than 14 days annually. Date: May 9, 2024 Author: SingleKey Content: Virginia attracts visitors from everywhere due to its thriving cultural scene mixed with its heritage, personifying the quintessential spirit of the American South.If you own and lease vacation homes in Virginia, learn how to capitalize on tax deductions. What’s considered a short-term rental?Short-term rentals (STRs) are accommodations typically rented for fewer than 30 days. They cater to tourists or business travelers seeking temporary lodging and are usually found in online marketplaces like Airbnb and VRBO.When should I report my rental income for my short-term rental?In the U.S., the tax year runs from January 1 to December 31, with tax returns typically due by April 15. The Internal Revenue Service (IRS) taxes rental income, including from STRs. Rental property owners need to report their income accurately to avoid future audits. A tax professional can advise on whether additional forms, like a W-9 Form, are necessary for platforms like Airbnb and VRBO.Do I always need to report rental income?If STR guests lease your vacation rental properties for more than 14 days annually, you must report these earnings since the IRS deems STR earnings taxable income.Under the 14-day rule, if the rental period is 14 days or less per year, you don't have to report this rental income and can't claim deductions. How do I report rental income for my short-term rentals?Use the Schedule E Form 1040 or the Form 1040-SR, tailored for individuals aged 65 and older. Consult our guide for a comprehensive overview of the rental income reporting process using the Schedule E 1040 Form, ensuring accurate information. This guide covers everything from income or loss from estates and trusts to real estate mortgage investment conduits.Follow these three steps to help break down the process. Step 1: Gather the proper formsHaving a written record of the time spent on repairs and maintenance, along with the associated costs for rental activity, is crucial. Make reporting easier by creating a list of itemized deductions to include on the 1040 Form.Step 2: Determine if the structure of your business is active or passiveDetermining whether income is passive or active hinges on how engrossed you are in managing and providing services for your guests. Passive income usually requires minimal day-to-day engagement, often through online booking platforms like Airbnb and VRBO. On the flip side, active income involves a more hands-on approach, when you invest significant effort to generate income from rentals.Here are some examples of running a short-term rental business: Offering guest servicesRoutine cleaning and maintenanceProviding mealsStep 3: Reporting rental income with a Schedule E (Form 1040)Report your earnings using the 1040 Form to itemize your deductible expenses. For those relying on Airbnb to promote their rental and collect and remit lodging taxes, submit a W-9 Form to Airbnb before sending the IRS your 1040. Sometimes, Airbnb will withhold 28% of your earnings if you don’t submit a W-9 Form.Key tax deductions for short-term rentalsWhen it comes to short-term rentals in Virginia, hosts can benefit from several key tax deductions on their income tax returns to lower tax burdens and boost earnings.These deductions may include:Mortgage interestProperty taxesDepreciationUtilities and maintenanceInsurance premiumsProfessional service, including property management, advertising, and marketing feesFAQ: Short-term rental property tax deductions in Virginia What are the sales taxes in Virginia? On May 1, 2021, the transient occupancy tax, or lodging tax, increased by 3% in Virginia. The total tax you pay 9.5% of the room rental charge, plus an extra $1.25 for each room per night. The sales tax rate for the majority of locations in Virginia is 5.3%. Are there regulations for operating an STR in Virginia? In Virginia, you are responsible for collecting a lodging tax if you rent out a short-term rental. Each city harbors different rules, so you must familiarize yourself with local laws to ensure you abide by them. For example, in Norfolk, you must have a Registration Zoning Permit or Conditional Use Permit. Are there specific statewide rules for STRs in Virginia? To keep everyone safe, owners of short-term rental properties in Virginia must follow the Virginia Department of Health rules. These rules ensure that the place is safe for people who stay there and for the neighborhood. Owners must ensure they have the right permits from VDH and follow all the regulations they’ve set. Our final thoughtsRenting out a short-term rental property can bring in good money, especially when you understand how to use tax deductions to your advantage. If you're not sure about handling the long-term commitments of traditional rentals or the challenges of operating a short-term rental business, our guide can help you decide what suits you best.  --- ### A Guide to Tax Deductions in Alaska for Short-Term Rentals [A Guide to Tax Deductions in Alaska for Short-Term Rentals](https://www.singlekey.com/en-us/near-me/alaska/a-guide-to-tax-deductions-in-alaska-for-short-term-rentals/) Meta: While navigating the short-term rental process, learn to report your earnings, when you're exempt from reporting earnings, and how to claim eligible tax deductions. Date: May 9, 2024 Author: SingleKey Content: Alaska earned its nickname "The Last Frontier" thanks to its vast, untouched landscapes and rich wildlife. From Ketchikan, a charming waterfront adorned with totem poles, to Kodiak, home of the mighty Kodiak bears and a prime spot for viewing the Northern Lights in the fall, Alaska offers a unique allure that has sparked the imagination of artists and tourists alike.Owning vacation rental properties in Alaska offers short-term rental (STR) owners promising opportunities. Learn how to maximize tax deductions to save the most money during tax season.What’s considered a short-term rental?Hosting guests for fewer than 30 days in a row is a short-term rental. Renting in Alaska, primarily through Airbnb and VRBO, requires an Alaska Business License for renting out various spaces like in-law suites or individual rooms. Businesses must register before obtaining their license from the Alaska Business License.When should I report my rental income for my short-term rental?Every tax year begins on January 1 and concludes on December 31, with individual tax returns typically due by April 15 in the U.S. Rental income is taxable income.The Internal Revenue Service (IRS) counts any money earned from a short-term rental as taxable income. If you rent through Airbnb or VRBO, talk to a tax professional to find out if you need to submit a tax form, like a W-9, to them. Do I always need to report rental income?When your guests spend more than 14 days per year in your short-term rental properties, the IRS considers those earnings taxable income, necessitating proper reporting. However, homeowners can claim exceptions, such as mortgage interest and real estate taxes, and retain their deductibility irrespective of rental activity.How do I report rental income for my short-term rentals?Use a Schedule E Form 1040 or a Form 1040-SR, specifically designed for individuals aged 65 and older. For a comprehensive overview of the tax reporting procedure, consult our guide on reporting rental income using the Schedule E 1040 Form.Streamline the reporting of your earnings and business expenses with these simple and efficient steps.Step 1: Gather the proper formsIt's essential to have a written record detailing the time invested in repair and maintenance, along with the corresponding costs related to rental activity. Simplify the reporting process by compiling an itemized list of deductions to be included on the 1040 Form.Step 2: Determine if the structure of your business is active or passiveThe difference between passive and active income is distinguished by how involved the property owner is in providing services for the rental property. Passive income involves minimal day-to-day engagement facilitated through online booking platforms like Airbnb and VRBO. In contrast, active income entails a more hands-on approach, where rentals generate income with a significant effort by the short-term rental operator.Step 3: Reporting rental income with a Schedule E (Form 1040)When you rent out your vacation home through Airbnb, find out if you need to submit a W-9 Form to Airbnb. Otherwise, Airbnb legally must withhold 28% of your rental money for taxes.When you report your earnings, whether it's a passive or active income, use the 1040 Form to itemize your deductible expenses.Key tax deductions for short-term rentalsVarious deductions can impact your tax liabilities. Some potential deductions you can claim on your tax return that are worth highlighting include property taxes, mortgage interest, travel expenses, business activity, routine rental expenses like cleaning and providing meals, and maintenance costs. Business expenses such as property management fees are eligible for deductions.FAQ: Short-term rental property tax deductions in Alaska What are the sales taxes in Alaska? The current statewide sales tax rate in Alaska is 0%. However, individual municipalities establish their own tax rates. Anchorage has no sales tax, but the tax regulation authorizes vacation rental owners to collect a room tax of 12%. Are there any regulations for operating an STR in Alaska? In Alaska, each town may have its own rules for short-term rentals, like occupancy limits, permits needed, and taxes to pay. Check with your local government to ensure you’re playing by the rules for tax planning purposes.However, if you are receiving business income, including rental income for an STR, you must apply for a business license in Alaska. Is Airbnb allowed in Alaska? Yes. Airbnb is an online marketplace for accommodation sharing, allowing individuals to rent out their properties or spare rooms to guests. Earning rental income through Airbnb constitutes business activity, and obtaining an Alaska Business License is necessary. Our final thoughtsRenting an STR can be profitable if you know how to make the most of tax deductions. If you're uncertain about diving into the responsibilities of long-term rentals or prefer earning a passive income on vacation rentals for shorter periods, take a look at our guide to see what aligns with your preferences.  --- ### Your Guide to Short-Term Rental Tax Deductions in Maine [Your Guide to Short-Term Rental Tax Deductions in Maine](https://www.singlekey.com/en-us/near-me/maine/your-guide-to-short-term-rental-tax-deductions-in-maine/) Meta: Our comprehensive guide provides valuable information on optimizing tax benefits for short-term rental properties in Maine. Learn about deductions and regulations. Date: May 3, 2024 Author: SingleKey Content: Whether tourists visit Acadia National Park in Bar Harbor or experience the charm of a small seaside town like Portland, Maine is an idyllic destination for owning a vacation property.Learn how to capitalize on optimal tax benefits while staying in compliance with federal and local laws.What’s considered a short-term rental?Short-term rentals typically refer to temporary lodging or vacation dwellings occupied for fewer than 28 days. All property owners must collect and remit a 9% lodging tax in Maine.It's essential to adhere to the Maine Revenue Services regulations for STRs by registering to collect sales tax on rentals.When should I report the rental income for my short-term rental?The United States tax year generally starts on January 1 and ends on December 31, with individual tax returns due on April 15 each year. Your rental income is taxable income.Do I always need to report rental income?Anyone leasing their short-term rental properties on Airbnb or VRBO for more than 14 days earns a taxable income and must report earnings.Vacation property owners may be exempt from sales tax on their STR if their living quarters serve as primary residences or are rented for employment or educational purposes. Other exemptions are leasing a property for fewer than 15 days for each calendar year.How do I report rental income for my short-term rentals?When you earn a rental income from a property, you can offset some of that income by deducting certain expenses. These expenses span mortgage interest, real estate taxes, maintenance, utilities, and insurance. You may also qualify for depreciation deductions.Use the Schedule E Form 1040 or the Form 1040-SR—the U.S. tax return for seniors 65 and older to report earnings.Follow these steps, which break down the process for reporting rental income with a Schedule E 1040 Form.Step 1: Gather the proper formsStaying organized is essential if you want to streamline the reporting process. Prepare a list of itemized deductions to include on the 1040 Form.Keep copies of your receipts for all expenses associated with your rental activities.Step 2: Determine if the structure of your business is active or passiveWhether you are earning a passive income renting your investment property or are knee-deep in performing property management duties, you must report your rental income. Determining whether your business earnings are active or passive will help you formulate an itemized deduction list.A passive income is earned through minimal work while leasing investment properties. Anyone routinely providing guest services is considered to be running a business.Step 3: Reporting rental income with a Schedule E (Form 1040)If you rent your vacation property through Airbnb, you need to submit a W-9 form to Airbnb. If you don't, the company is legally obligated to withhold 28% of your rental income for taxes throughout the entire tax year. However, in most cases, your actual tax liability on rental income will be less than 28%.Once you submit a W-9 form to Airbnb, report your earnings and deductible expenses on your 1040 Form.Key tax deductions for short-term rentalsHomeowners can deduct expenses, including some depreciation deductions, mortgage interest rates, and other applicable rental expenses. Ideally, speaking to a tax professional will help you broadly identify and capitalize on all tax benefits. Here is a list of deductions you may qualify for if you earn a passive income or oversee all rental operations:Property taxesReal estate mortgageTravel expensesRental expenses (cleaning, meals)Maintenance deductionsBusiness expenses (property management fees)Maine residents may receive a refund on property tax or rent payments through the Property Tax Fairness Credit program, even if they owe no income tax.FAQ: Short-term rental property tax deductions in MaineOur final thoughtsLeasing a short-term rental can be profitable, especially when you capitalize on tax deductions. If you're unsure whether you're ready to take on the responsibility of managing a long-term rental or if you prefer the flexibility of leasing for shorter periods, review our guide to learn what's right for you.  --- ### Washington State Tax Deductions on Short-Term Rentals [Washington State Tax Deductions on Short-Term Rentals](https://www.singlekey.com/en-us/near-me/washington/washington-state-tax-deductions-on-short-term-rentals/) Meta: Hosts must report rental income in Washington State when leasing their vacation rental for more than 14 days annually. Fortunately, they can claim tax deductions. Date: May 3, 2024 Author: SingleKey Content: Washington state is where lush green landscapes meet lively music scenes, enticing travelers year-round. From the Emerald City's evergreen forests to sprawling rocky shorelines, Washington State offers many vacation rental opportunities for travelers and investors alike.Rental expenses vary depending on the location and amenities, making it essential for rental property owners to stay informed about short-term rental taxes and regulations governing platforms like Airbnb and VRBO.Our guide will help rental property owners understand how to capitalize on deductible expenses, from property taxes to rental expenses.What’s considered a short-term rental?Hosting guests in your rental for less than 30 consecutive days is a short-term rental, encompassing various accommodations from homes to camping sites. Hosts must adhere to Washington State regulations by registering with the Department of Revenue. When should I report my rental income for my short-term rental?Every tax year begins on January 1 and concludes on December 31, with individual tax returns typically due by April 15. Rental income is taxable income if you lease your vacation rental property for longer than 14 days annually.Do I always need to report rental income?When someone pays to stay at your short-term rental properties for more than 14 days annually, those earnings are seen as taxable income to the Internal Revenue Service (IRS) and must be reported. Exemptions will apply if the short-term rental operator leases the property for fewer than 14 days. Simultaneously, you cannot deduct expenses linked to STRs, yet certain expenses like mortgage interest and real estate taxes are deductible regardless of rental activity.How do I report rental income for my short-term rentals?The IRS advises using the Schedule E Form 1040 or the Form 1040-SR—tailored for seniors 65 and older to report earnings.For a complete breakdown of the tax reporting process, review our guide on reporting rental income using the Schedule E 1040 Form.Expedite the process of reporting your earnings and business expenses with these straightforward steps. Step 1: Gather the proper formsIt's essential to maintain a written record of all the time spent on repair and maintenance, as well as the costs associated with rental activity. Streamline the reporting process by preparing an itemized list of deductions to include on the 1040 Form. Your records will serve as protection against potential audits. Step 2: Determine if the structure of your business is active or passivePassive income means the property owner is engaging in minimal day-to-day involvement, usually when managing properties through online booking platforms. Compare this to a more hands-on approach, when rentals generate income with a significant effort from the short-term rental operator. Active income is when the owner has a higher level of involvement. Step 3: Reporting rental income with a Schedule E (Form 1040)When you opt to lease your vacation property via Airbnb, submit a W-9 form to Airbnb; otherwise, failure to do so will result in the company being legally bound to withhold 28% of your rental income for tax purposes throughout the fiscal year.Key tax deductions for short-term rentalsFor short-term rental hosts leasing their properties, various deductions, such as depreciation, mortgage interest, and deductible expenses, must be considered. Consulting with a tax professional can help you maximize these benefits. Potential deductions include property taxes, mortgage interest, travel expenses, rental expenses like cleaning and meals, maintenance costs, and rental business expenses such as property manager fees. Washington residents might also qualify for property tax or rent refunds through the property tax fairness credit, regardless of their income tax liability.FAQ: Short-term rental property tax deductions in Washington What are the sales taxes in Washington? Washington’s retail sales tax is 6.5%. This tax also applies to transactions made through short-term rental platforms like Airbnb and VRBO, where short-term rental taxes may be applicable based on the rental property’s location. Are there any regulations for operating an STR in Washington? In Washington state, short-term rental platforms must register with the Department of Revenue, inform operators of tax responsibilities, and educate them on safety requirements.Additionally, short-term rental operators must maintain liability insurance coverage of at least one million dollars on vacation rentals or use platforms that offer equal or greater coverage for short-term rentals. Is rental income taxable in Washington? In Washington State, rental property owners must report their rental income, whether earned from their primary residence or rental unit, as long as they lease their property for longer than 14 days annually. When you report earnings, you can claim rental expenses and other deductions. Short-term rental property owners must obtain a business license.  Our final thoughtsRenting out a short-term rental can be a lucrative venture, particularly when you're savvy about leveraging tax deductions. For those who are unsure whether they want to shoulder the duties of overseeing a long-term rental or leasing vacation rentals for briefer intervals, check out our guide to help you decide.  --- ### A Guide on Short-Term Rental Tax Deductions in Kentucky [A Guide on Short-Term Rental Tax Deductions in Kentucky](https://www.singlekey.com/en-us/near-me/kentucky/a-guide-on-short-term-rental-tax-deductions-in-kentucky/) Meta: In Kentucky, you can optimize all eligible tax deductions for short-term rentals, including business expenses. Review our guide to streamline the process. Date: May 3, 2024 Author: SingleKey Content: Kentucky, infused with southern charm, boasts unique offerings like the distinguished Kentucky Derby and the colorful city of Lexington. Lexington is also known as the world's horse capital and is home to more than 400 horse farms. If you own a vacation home or rental unit in Kentucky, learn how to maximize your deductions.What’s considered a short-term rental?A short-term rental (STR) is a property leased briefly, typically lasting 30 days or fewer. Many travelers source STRs through online platforms such as Airbnb or VRBO. Regulations vary by city in Kentucky; for instance, in Louisville, STR hosts must annually register each property with the Office of Planning & Design Services.When should I report the rental income for my short-term rental?In the United States, the tax year kicks off on January 1 and wraps up on December 31. People are expected to file their individual tax returns on April 15 like clockwork every year.Do I always need to report rental income?Property owners who lease their vacation rentals for more than 14 days and earn profits on those rentals must report their rental income every year.The 14-day rule provides an exemption for taxpayers. It applies to income earned from STRs that are leased for fewer than 14 days a year, meaning you may not need to report this income.How do I report rental income for my short-term rentals?The IRS recommends using the Schedule E Form 1040 or the Form 1040-SR, which are formulated for taxpayers 65 and older in the United States.Here, you'll find a step-by-step guide explaining the process of reporting rental income using a Schedule E 1040 Form.Step 1: Gather the proper formsCreate a list of all eligible deductions to include on the 1040 Form. This is where the receipts for all rental expenses linked to your vacation rental property and rental activities will come in handy.Step 2: Determine if the structure of your business is active or passiveTo determine whether your income is active or passive, consider your involvement in your rental business. An active income stems from consistently engaging with guests and organizing services such as cleaning and maintenance.Passive income is generated from activities in which you are not substantially involved, which include rental income or payouts from investments.Step 3: Reporting rental income with a Schedule E (Form 1040)When you rent out your vacation home on Airbnb, TurboTax suggests submitting a W-9 Form. If you skip this, they'll withhold 28% of your rental income for taxes. In most cases, your actual tax owed on rental income is lower than 28%.Here is an extensive breakdown of reporting income taxes with the 1040 Form.Key tax deductions for short-term rentalsTax deductions for short-term rentals in Kentucky include various expenses associated with managing and maintaining the rental property. Mortgage interest and property taxes are deductible because they are considered necessary expenses in owning the rental property. In addition to property taxes, you may be able to include insurance premiums as a deductible expense.If you are routinely involved in the rental operations, any costs accrued from managing the rental will fall under a deductible expense. Save your receipts on repairs, travel expenses, office deductions, or relevant business expenses, including salaries for your rental property tax deductions. Scheduling a consultation with a tax professional or accountant familiar with Kentucky’s tax laws will help you navigate your first time reporting earnings.FAQ: Short-term rental property tax deductions in Kentucky Is there a lodging sales tax in Kentucky? Guests booking VRBO or Airbnb listings in Kentucky will be subject to a 6% Kentucky Sales Tax on reservations lasting 29 nights or fewer, including cleaning fees. Additionally, a 1% Kentucky Transient Room Tax applies to all reservations, inclusive of cleaning fees. For more details, refer to the Kentucky Department of Revenue website. Are there any regulations for operating an STR in Kentucky? STR operators must obtain a business license through the Division of Revenue. Each city has its own regulations, and vacation homeowners should familiarize themselves with local laws.  When do vacation property owners not have to report their rental income? If your deductible rental expenses surpass your rental income, you may eliminate any potential taxable income and potentially incur losses that could provide additional benefits at tax time. The 14-day rule, if you lease a property for fewer than 14 days annually, will exempt you from reporting taxes and claiming deductions. Our final thoughtsUnderstanding the importance of maximizing tax deductions can help you save significantly. If you are figuring out whether to manage a short-term or long-term rental, visit our guide to choose the best path for your needs.  --- ### A Guide on Taxes for Short-Term Rentals in North Carolina [A Guide on Taxes for Short-Term Rentals in North Carolina](https://www.singlekey.com/en-us/near-me/north-carolina/a-guide-on-taxes-for-short-term-rentals-in-north-carolina/) Meta: Claiming tax deductions in North Carolina on your short-term rental property will help you lower what your rental business owes and ultimately save money. Date: May 3, 2024 Author: SingleKey Content: North Carolina offers a scenic landscape and a relatively mild climate. Parts of it are straddled by the Great Smoky Mountains National Park, which is designated as an international biosphere reserve and an ideal vacation home destination.Discover how to maximize tax advantages while adhering to federal and local North Carolina regulations, specifically concerning short-term rentals.What’s considered a short-term rental?A short-term rental (STR) is a property leased briefly, often 30 days or fewer. Travelers commonly find STRs through online platforms like Airbnb or VRBO. Each city in North Carolina has its own regulations; for example, in Raleigh, STR operators need a zoning permit, and exterior advertising is banned. In Greensboro, STRs are only allowed in residential dwelling units.When should I report the rental income for my short-term rental?The United States tax year typically begins on January 1 and concludes on December 31, with annual individual tax returns expected by April 15.Do I always need to report rental income?During tax season, rental property owners are required to report rental income earned from vacation rental properties on their tax returns. According to the Internal Revenue Service (IRS), rental income refers to tenant funds, specifically rent payments over 14 days. The good news is that most vacation rental owners qualify for deductible expenses.There is a 14-day rule, a provision offering potential relief for taxpayers. Under this regulation, income earned from short-term rentals—those lasting no more than 14 days in a year—is exempt from reporting.How do I report rental income for my short-term rentals?Usually, you'll document the income and expenses on appropriate tax return forms, such as the Schedule E Form 1040 or the Form 1040-SR, tailored for individuals aged 65 and above in the United States.Below are step-by-step instructions to report your rental income using a Schedule E 1040 Form.Step 1: Gather the proper formsStaying organized is key to simplifying reporting. Make a list of itemized deductions to include on the 1040 Form. Ensure you retain copies of receipts for all expenses linked to your vacation rental property and rental activities.Step 2: Determine if the structure of your business is active or passiveA simple way to know whether you’re operating an active or passive business in North Carolina is to view your level of involvement through the lens of the IRS.Active engagement involves hands-on decisions and managing tasks on a daily basis, similar to having a full-time job. Conversely, passive involvement is when you have minimal engagement with your guests or the rental property while you collect an income. The distinction matters for tax implications.Step 3: Reporting rental income with a Schedule E (Form 1040)If you rent out your vacation home on Airbnb and it makes up over 28% of your income, Airbnb needs your W-9 form. If you skip this, they'll hold 28% of your rental income for taxes. But usually, your actual tax owed on rental income is lower than 28%.After this step, complete the 1040 Form using your receipts to determine your applicable deductions. Here is a comprehensive guide for reporting income taxes with the 1040 Form. Key tax deductions for short-term rentalsKey deductions for STRs in North Carolina include expenses directly related to managing and maintaining the rental property, such as:Mortgage interestProperty taxesInsurance premiumsUtilitiesRepairsMaintenance costsCleaning feesProperty management feesAdvertising expensesTravel expensesOffice deductionsBusiness expensesDepreciation deductionsAdditionally, expenses incurred while hosting guests, such as supplies, furnishings, and amenities, may count as rental property tax deductions. Consult with a tax professional or accountant familiar with North Carolina's tax laws, especially if this is your first experience leasing a property. FAQ: Short-term rental property tax deductions in North Carolina Is there a lodging sales tax in North Carolina? Yes. Guests booking Airbnb or VRBO listings in North Carolina face taxes, including a 6.75%–7.5% sales tax, a 4.75% statewide tax, and a local occupancy tax by county. How do I avoid Airbnb taxes? The only way to avoid paying income taxes is to qualify for the 14-day rule, which applies to Airbnb hosts who rent a property for fewer than 14 days per year. The homeowner must report their income if they engage in rental activity for more than 14 days. Are there any regulations for operating an STR in North Carolina? Each city in North Carolina has its own regulations. Many cities require homeowners to have a permit to lease their STR. It’s wise to stay informed about the ever-evolving long-term and short-term rental laws on the state-wide and local levels. Our final thoughtsBeing a savvy host and property manager means you understand how to optimize tax deductions. If you can’t decide whether to manage an STR or long-term rental, review our guide to help you determine what path is right for you.  --- ### Tax Guide on Short-Term Rental Property Deductions in Ohio [Tax Guide on Short-Term Rental Property Deductions in Ohio](https://www.singlekey.com/en-us/near-me/ohio/tax-guide-on-short-term-rental-property-deductions-in-ohio/) Meta: Discover how to streamline the filing process and get the most significant returns on itemized deductions for managing your short-term vacation rental in Ohio. Date: April 15, 2024 Author: SingleKey Content: Ohio, the heart of the Midwest, has charming countryside and a share of colorful cities, such as Cleveland, Columbus, and Cincinnati.For property owners in the Buckeye State who are thinking of operating short-term rentals, we compiled a guide on how to file income taxes and get the most return.  What's considered a short-term rental?A short-term rental (STR) is any dwelling with five or fewer guest rooms rented for 30 consecutive days or less. Most property owners list their STRs on online platforms like Airbnb, VRBO, HomeAway, and FlipKey.In Columbus, you must obtain a permit to operate a rental property. Research the rental laws in your local municipality to better understand your county's rental rules. When should I report the rental income for my short-term rental?Individual taxpayers should report their income tax by April 15, 2024. Many independent property managers who operate their own investment property are considered self-employed.For property owners in the Buckeye State who are considering operating short-term rentals, we compiled a guide on filing income taxes and getting the most return.  Do I always need to report rental income on my short-term rental?All rent received is taxable income. The good news is many expenses qualify as deductible expenses.Short-term rental hosts who rent their primary residence or vacation homes for fewer than 15 days per year do not have to report their taxes—this is also known as the 14-day exception, a provision in the U.S. tax code. If you exceed the 14-day limit, you must report all rental income to the Internal Revenue Service (IRS) since it is taxable income.How will taxes be collected if I host my short-term rental on Airbnb?In Ohio, there are jurisdictions where Airbnb will collect and remit taxes for short-term rental owners. Lodging taxes vary by county. If you're a homeowner utilizing Airbnb, file a W-9 form for your short-term rental property. Airbnb is required to withhold 28% of your income for those who don't file a W-9. However, if you earn less than 28%, Airbnb won't withhold 28% of your income.A W-9 Form requests the taxpayer identification number and other relevant information. How do I report rental income for my short-term rentals in Ohio?With tax season underway, if you're rushing to meet the deadline, here are some actionable steps to finish your taxes. Step 1: Gather the proper formsThe most important thing is to keep well-organized documentation of your vacation rental property activity, including your rental periods, rental property income, applicable business expenses, and travel expenses.Once you have calculated your rental income, determine the total income received, including any sales tax and fees charged to guests.Step 2: Determine if your business is active or passiveDetermining whether the structure of your rental business earns an active or passive income depends on your level of involvement. The IRS usually considers rental income passive.With passive income, there is minimal involvement in week-to-week operations. Even when you invest in repairs to your rental property but hire a property manager to make the operational decisions, you still earn passive income.Earning an active income involves spending significant time managing vacation rental properties through guest communications, traveling, completing routine maintenance and repairs, and handling the finances. When you earn an active income, you may have higher tax rates, limited business income deductions, and be subject to additional taxes, such as self-employment taxes. The tax advantages of filing a passive income could mean lower tax rates and more deduction opportunities.Step 3: Reporting rental income with a Schedule E (Form 1040)Complete a Schedule E form to report your total rental income and loss. The detailed information you'll need to provide includes:Income, including fees and taxesExpenses, including management fees, cleaning, and maintenanceDepreciation, including wear and tear on the homeCheck out our comprehensive guide on reporting your earnings with a Schedule E 1040 Form.Key tax deductions for short-term rentalsSome itemized deductions you may be eligible for when operating vacation rental properties include mortgage interest, property taxes, and maintenance and cleaning expenses. If you earn a passive income, you qualify for a wide range of deductions. FAQ: Rental property tax deductions in Ohio What expenses can I write off on my rental property? An active income earner can write off various expenses. It’s always advised to consult with a tax professional specializing in real estate to learn how to maximize your deductions. Some deductions may include, based on your earnings and the county you reside in, mortgage interest, property taxes, insurance premiums, utilities, advertising and marketing, travel expenses, and home office expenses. How does the IRS treat STRs? When you rent your vacation rental for fewer than 15 days annually, the IRS will not consider the earnings taxable income. If you earn profits from your rental for more than 14 days, you must report your rental income.  Can you write off Airbnb expenses? Not all Airbnb income is taxable. The total net amount earned is a contributing factor. Consult with a tax specialist when you first use Airbnb or other online platforms, such as VRBO.  Our final thoughtsOperating an STR unit can serve as a profitable passive income stream. Regulations for rental units, rooms, and single-family homes vary by county. Whether you plan to rent your property for the long haul or advertise it as a vacation rental, it's essential to understand all of the necessary rental documents to manage your property effectively.If you're still on the fence about running a STR or a longer-term rental, check out our guide on determining the pros and cons of each rental operation.  --- ### Tax Guide on Florida’s Vacation Rentals [Tax Guide on Florida’s Vacation Rentals](https://www.singlekey.com/en-us/near-me/florida/tax-guide-on-floridas-vacation-rentals/) Meta: Demystify Florida's tax rules for short-term rentals, learn how to maximize deductions, and pay fewer taxes on rental income earned from your investment home. Date: April 12, 2024 Author: SingleKey Content: The Sunshine State is one of the top travel destinations in the country for many reasons. The warm, tropical climate boasts thousands of miles of stunning coastlines, crystal clear springs, beautiful beaches, and a diverse culture, and it is home to one of the most unique ecosystems and birder's paradise––the Everglades.Florida is one of the top destinations for vacation rentals. Continue reading this guide to learn about all the deductible expenses you can report as a rental property owner. What's considered a short-term rental?In Florida, a short-term rental (STR) usually refers to a residential property or rental unit rented for 30 days or less.When should I report the rental income for my short-term rental? The deadline to file income taxes is April 15, 2024. Your rental earnings are considered taxable income. The exception to that rule is known as the 14-day rule, stating that if you rent your vacation home or rental unit for fewer than 15 days annually, you don't report that income to the Internal Revenue Service (IRS). Therefore, you can't deduct rental expenses, since it's not a taxable income. Do I always need to report rental income on my short-term rental? Property owners should report their income on transient rentals if occupied for longer than 14 days. While you aren't obligated to report earnings from short-term vacation rentals occupied for only 14 days annually, Airbnb and VRBO must pay all taxes. A tax professional may advise you to report this as an additional income on your tax return and list it as being eligible for the 14-day rule. How do I report rental income for my short-term rentals?Reporting rental income for STRs in Florida is essential for investment property owners. It's important to comply with tax laws, and in some cases, you may be able to save money on rental property tax deductions. Follow these steps to navigate the process of filing taxes with itemized deductions. Step 1: Gather the proper formsFor real estate investors hosting on Airbnb, use a W-9 form to request information for your rental income taxes. Otherwise, Airbnb may withhold 28% of your rental income. If hosts earn less than 28%, Airbnb will not withhold income. Many people’s tax liability on their rental income will be lower than 28%. Property owners should use a Schedule E 1040 Form to file taxes for their STRs. Learn more about how to file a Schedule E for reporting rental income in the U.S.Step 2: Decide if your short-term rental income is active business income or passive rentalAn active income is earned from a traditional job where you routinely work. A passive income is an extra income where you don't have to invest much effort. An active income is taxed at the highest rates. Passive income investors may be eligible to deduct business expenses such as travel expenses and mortgage interest rate fees. Step 3: Filing your income taxesOnce you have all of your business expense receipts, dates, earnings, and relevant paperwork in place, it's time to file and submit your STR taxes. Ideally, first-time investment property owners should consult with a real estate professional to ensure they can maximize their deductions. Key tax deductions for short-term rentalsYou may be eligible to write off some expenses related to your vacation rental property, such as Homeowners Association (HOA) fees, travel expenses, insurance premiums, repairs, cleaning, and maintenance costs. If you're an investment property owner, not using a property management company, and actively involved in maintaining, operating, and advertising multiple vacation rental properties from the comfort of your home, you could be eligible for a home office tax deduction. Property taxes paid on a rental are also deductible. In Florida, there is no individual income tax, but you do have to pay applicable county-specific sales taxes. Most real estate investment operating expenses are deductible if you are actively and regularly involved in the operation of your vacation rental. FAQ: Short-term rental tax deductions in Florida What is Florida's Airbnb tax rate? The Airbnb tax in Florida is 6%. Each Florida county may have individual tourist taxes.  Can you write off expenses on vacation rentals in Florida? In Florida, the absence of a state income tax benefits the property owners. You can deduct any expense related to your investment property like maintenance, utilities, and advertising costs, which can be deducted from the money you earn renting your home out. This may lower the amount of tax you owe.  Can you write off depreciation? Real estate depreciation is the decrease in a property’s value over time. The government recognizes this decrease, and you can deduct a portion of the property’s value each year. According to Investopedia, the average home depreciates 3.636% yearly for 27.5 years. Our final thoughtsIf you're still debating whether to rent out your investment property for the long haul or just as a cozy getaway spot, you can learn more about managing both short-term and long-term rentals to help decide which path is right for you.  --- ### Guide on Rental Property Tax Deductions in Illinois [Guide on Rental Property Tax Deductions in Illinois](https://www.singlekey.com/en-us/near-me/illinois/guide-on-rental-property-tax-deductions-in-illinois/) Meta: Earn savings with our guide on Illinois rental property tax deductions by maintaining thorough documentation on all rental expenses from short-term rentals. Date: April 12, 2024 Author: SingleKey Content: Illinois is home to Chicago, the Windy City, and is also known as a top summertime getaway spot, with vast rural landscapes welcoming more than 100 million tourists in 2023. If you own a primary residence in the Prairie State, discover how to maximize your rental property tax deductions and minimize tax liability. What's considered a short-term rental?A short-term rental is any property that is rented out for fewer than 30 consecutive days. You generally need to have a license to rent properties in Illinois. Check with your local municipality on licensing requirements.When should I report the rental income for my short-term rental?Tax day in the United States is April 15, 2024. Property owners who actively and regularly manage vacation rentals should consult a tax professional. While Airbnb may handle tax payments in some areas, you should still diligently track guest occupancy taxes.Review VRBO’s three options for managing your property's lodging taxes. Some jurisdictions may require you to collect applicable taxes, while VRBO will collect other taxes. Do I always need to report rental income on my short-term rental?In the United States, homeowners can rent their primary residence for up to 14 days annually without reporting the rental income on their tax return. Thus, homeowners can enjoy the rental income without having to pay taxes on it.Even if your rental activity falls within the 14-day exemption period, Airbnb and similar platforms must still report your earnings. You can report your earnings as additional income and mark that it qualifies for the 14-day rule.How will taxes be collected if I host my short-term rental on Airbnb?Airbnb in Illinois collects the Hotel Operators’ Occupation Tax, which ranges between 5.98% and 6.17% of the listing price and includes cleaning fees for reservations 29 nights and shorter.County lodging taxes may vary. For instance, the Cook County Motel Tax is only 1% of the listing price. How do I report rental income for my short-term rentals in Illinois?Once your vacation property has started earning profits, it's essential to ensure you keep a log of all rental property activity. Here are some important things to do to start preparing to file taxes. Step 1: Gather the proper formsIf you employ online marketplaces for renting your vacation home, such as Airbnb, use a W-9 Form to request your financial details. If you fail to use a W-9 Form, Airbnb must withhold 28% of your income. However, in many instances, your actual tax liability on your rental income will be less than 28%.Use a Schedule E 1040 Form to report your earnings to the Internal Revenue Service (IRS).Check out our guide on efficiently reporting rental Income with a Schedule E 1040 Form.Step 2: Determine if the structure of your business is active or passiveOperating vacation rental properties is generally considered a passive income, but it will not seem like passive work if you have experience as a vacation rental host. If the home is old, there's always something to tend to, whether it’s a leak or a faulty major appliance. All the costs you pay for maintenance and repairs may be considered deductible expenses. On top of deductible expenses, there are depreciation deductions. In Illinois, if you claim a bonus depreciation on your federal tax return, you must add that extra amount back when calculating your state tax owed.Step 3: Reporting rental income with a Schedule E (Form 1040)Once you determine your rental income and gather your expenses, you can use a 1040 Form to complete your taxes by providing details about each rental property.Deduct your total expenses from your total rental income to find the net income. Always maintain thorough documentation. Key tax deductions for short-term rentalsAs we covered previously, Airbnb will collect and remit the hotel occupancy tax. If you are acting as a property manager, you can deduct advertising costs and travel expenses to check on the property and provide services. You're also responsible for collecting taxes and filing them. The Illinois state tax is 4.9%. The state’s occupancy tax is 5% of the listing price. However, each county may be subject to its own short-term rental taxes. The Illinois property tax credit gives homeowners a 5% credit on income tax returns. Those eligible must own and live in the home. If you rent a room in your home, you may be eligible to deduct property taxes, but you should check with your local municipality.Here are some essential expenses that rental property owners may be eligible to deduct when reporting their taxable income on the residential rental property: Insurance premiumsCleaning fees and applicable tax ratesMaintenance and repairsTravel expensesFAQ: Rental property tax deductions in Illinois What expenses can be deducted from rental income? Deductible expenses may include mortgage interest, rental operating expenses, cleaning, repairs, and depreciation. You can deduct additional costs if you earn an active income from the residential rental property, and you can deduct managing expenses for conserving and maintaining your rental property. How much tax do I pay on rental income in Illinois? In Illinois, it is 4.95%. However, you can use operating expenses as rental property tax deductions. Each county may have a different lodging tax. Is rental income considered taxable? Any earnings are considered taxable. However, if you rent your rental property for 15 days or fewer each year, you will not be taxed on those earnings.  Our final thoughtsOwning and operating a short-term rental unit or residential property can be an ideal source of passive income. Each county has different regulations for operating single-family homes and rental units. Whether you are considering renting your home for long-term use or as a vacation rental, discover all of the essential rental documents you will need to manage a property. --- ### A Guide on Short-Term Rental Tax Deductions in New Jersey [A Guide on Short-Term Rental Tax Deductions in New Jersey](https://www.singlekey.com/en-us/near-me/new-jersey/a-guide-on-short-term-rental-tax-deductions-in-new-jersey/) Meta: Learn how to efficiently file taxes for your New Jersey short-term rental property and get the greatest return from your deductible expenses before tax day. Date: April 12, 2024 Author: SingleKey Content: New Jersey is a blend of natural beauty and a buzzing urban atmosphere. Tourists are increasingly booking more stays in New Jersey to take day trips to the Big Apple since New York tightened short-term rental (STR) regulations. The stricter reforms on New York's STRs also increased demand for vacation homes on the beautiful coastlines of the Jersey Shore and in Jersey's rural mountain cabins.If you are new to operating a vacation rental property, follow this guide to learn how to get the most profitable returns with rental property tax deductions. What’s considered a short-term rental?A short-term rental is any vacation rental in a residential property or apartment unit occupied by renters for 30 consecutive days or less. Regulations may vary from location to location, so it's good to familiarize yourself with local STR laws.For example, in Jersey City, owners must apply for a permit from the Division of Housing Preservation, which is required for all STRs of less than 28 consecutive nights. In Atlantic City, property owners must obtain a seasonal certificate of occupancy.When should I report rental income on my short-term rental?The 2024 tax filing season began on January 29. The Internal Revenue Service (IRS) will begin collecting and processing 2023 tax returns at the beginning of the year. The deadline to file your taxes is quickly approaching on April 15, 2024.Do I always need to report rental income?In most cases, you need to report your STR earnings. However, the duration at which you rent your STR determines whether you owe taxes.Though rental earnings are taxable income, short-term rental hosts are exempt from reporting their rental income if tenants only occupied the rentals for 14 days or less annually. Platforms such as Airbnb and VRBO still report all earnings despite a 14-day rule. You can still report your extra income and categorize it as additional income, eligible for the 14-day exception.How do I report rental income for my short-term rentals?Track all your expenses throughout the rental process to effortlessly submit taxes. Being organized will also accelerate the refund process.Depending on how you rent your vacation accommodation, you or the online platform you use must collect and pay state and local taxes to the IRS.What if I host my short-term rental on a transient space marketplace?Online platforms that are used to book short-term stays are also known as transient space marketplaces. Examples include Airbnb, VRBO, or Booking.com. These platforms book guest stays and handle payment, sometimes charging a fee.If a guest books through one of these platforms, the platforms ensure the taxes are paid. But, if the guest books directly with the property owner, such as through their website, then the property owner has to handle the taxes themselves and report all earnings to the IRS.In New Jersey, guests pay a Municipal Occupancy Tax currently set at 6.625%. This sales tax is for lodging considered a hotel or motel equipped with on-site services, including cleaning. If you host an Airbnb, the Occupancy Tax will vary from city to county.Follow these steps to simplify the process of reporting rental income for your STR.Step 1: Gather the right formsEnsure you are keeping an organized record of all of the expenses for your rental, like repair and home supply receipts. Staying organized and collecting all of the documents you need will help when it's time to file taxes on the residential property you are renting. Property owners renting out their property for no more than 30 consecutive days and more than 14 days annually should obtain a W-9 form if they use Airbnb for their short-term rental properties. This form is used to request information needed to file taxes, in addition to a Schedule E 1040 Form. There is no deadline to submit a W-9, but you need to submit the 1040 form by the April 15, 2024 deadline. Check out our guide on reporting rental income with a Schedule E 1040 Form. Step 2: Determine if the structure of your business is active or passiveIn New Jersey, making money from renting out a property is usually considered passive income. This means you can do little work to keep the rental going. STR incomes are usually considered investments earning passive income.The good news is you can deduct certain expenses related to earning that passive income, which may include repairs and maintenance.When you actively work to maintain the rental property by doing things like regular upkeep, cleaning, and fixing things routinely, it's considered active income. This type of income is often taxed at higher rates.Step 3: Reporting rental income with a Schedule E (Form 1040)Whether renting a room in your primary residence or an entire vacation home, you can use a 1040 Form to report the money you earn and the costs you paid to improve the rental and provide services.Airbnb, HomeAway, and VRBO must withhold 28% of your rental income if you don't provide them with a W-9 form.Key tax deductions for short-term rentalsSome essential tax deductions for STRs in New Jersey may include any expense directly related to renting the property, including cleaning fees, maintenance, repairs, advertising, travel fees, insurance, mortgage interest rate, property taxes, and depreciation.Talk to a tax professional or real estate broker to ensure you maximize your tax deductions.FAQ: Rental property tax deductions in New Jersey Can you write off property taxes in New Jersey on a rental property? Yes. In New Jersey, renting your primary residence might make you eligible for a property tax deduction or credit. This deduction can lower your taxable income by up to $15,000 annually, based on the property taxes paid. What expenses can be deducted from a rental income? Some of the itemized deductions may include mortgage interest, property taxes, service fees, travel expenses, cleaning, or maintenance. Does rental income affect social security? If you’re earning a passive income from renting a home, that income usually doesn’t count when figuring out your social security benefits. If renting a home is your primary job or you are actively involved with providing services to people you are renting to, that counts towards your social security benefits. Our final thoughtsInvesting in real estate property has many benefits. A short-term rental unit can be an ideal source for a passive income. Each county has different regulations for people managing single-family homes and rental units. Learn about all of the essential rental documents you will need to manage a property in New Jersey. --- ### Tax Guide for Nevada Short-Term Rentals [Tax Guide for Nevada Short-Term Rentals](https://www.singlekey.com/en-us/near-me/nevada-us/tax-guide-for-nevada-short-term-rentals/) Meta: Understand Nevada’s short-term rental taxes, including deductions and expert reporting requirements for homeowners to maximize deductions and minimize liabilities. Date: April 12, 2024 Author: SingleKey Content: What's considered a short-term rental?Any vacation rentals or rental units rented for 31 consecutive days or fewer are considered short-term rental properties. However, this rule may be different in each county. For instance, in Washoe County, a STR is 28 days. When you rent a vacation property, like a home or residential unit, you are entering into a lease agreement temporarily. For tax purposes, the person renting out the STR collects all local lodging taxes and reports them during tax season. Tax laws can vary from county to county. Depending on where the STR is located, it's important for the host and guest to understand their tax responsibilities based on local rental laws.When should I report the rental income for my STR?The deadline to file and settle your taxes on all taxable income is April 15, 2024. For the most part, all state taxes are due on April 14, 2024. If you filed on time and anticipate a refund, you can expect to receive your funds in 21 days. Do I always need to report rental income?Under the 14-day rule, you are not obligated to report your rental income if you rent out your apartment, unit, or home for less than 14 days annually. Though the 14-day rule applies to everyone, platforms like Airbnb, HomeAway, or VRBO might report rental income to the IRS on Form 1099-K. If you include additional income on your tax return, subtract it as a qualifying 14-day exception adjustment.The tax applied to room rentals is known as Lodging Tax. In Nevada, the rates for transient lodging tax and exemptions are determined at the city or county level, and these transient lodging taxes can change by county. The transient lodging tax in Las Vegas is 13%. Clark County collects an additional 0.05% room tax.How do I report rental income for my short-term rentals?Having your rental activity receipts and logs handy, including rental periods and any services, maintenance, and repairs included, will keep you organized and expedite reporting your taxes. Use Schedule E (Form 1040) to report rental income on all your properties.Follow these steps to report your rental income efficiently.Step 1: Gather the proper formsHere is a list of forms you’ll need if you are filing for taxes on a STR and using online platforms like Airbnb and VRBO:Property taxesW-9 FormReceipts from rental periodsDocumentation of cleaning, maintenance, and repair servicesTravel expensesFor a comprehensive breakdown of reporting rental income, check out our Guide to Reporting Rental Income: How to File a Schedule E.Step 2: Decide if your short-term rental income is active business income or passive rentalOperating a rental property typically qualifies as passive income since, unlike a traditional nine-to-five job where you dedicate a fixed amount of hours each week, you usually invest only a minimal amount of time each month in managing a rental, whether the rental is occupied on a fixed term, periodic term, or vacation rental. Real estate professionals who spend at least 750 hours annually on real estate work-related activities can save thousands of dollars in taxes. You don't necessarily have to have a real estate license. The Internal Revenue Service (IRS) only wants valid documentation on the work completed.Step 3: Filing your income taxesConsulting with a real estate professional or accountant can help you maximize your refunds. The IRS recommends sticking to a 1040 form for tax filings, yet if you use platforms like Airbnb, opt for a W-9 form to collect information from the online platform before filing for taxes. Using a W-9 form can also prevent Airbnb from withholding your rental income.Key tax deductions for short-term rentalsLandlords are permitted to deduct all vacation rental-related expenses within reason, used in the same vein of maintenance and rental costs:Insurance premiumsProperty taxesRepairs to the propertyTravel costs Cleaning and seasonal maintenanceUse this template to help track your rental expenses.FAQ: Tax guide for Nevada short-term rentals Do vacation rental owners have to pay taxes on their rental income? Yes, all property owners must pay taxes on their rental properties unless the homes or units are occupied for less than a week every year. Property owners can enjoy tax-free profits earned from a STR rented less than 14 days annually. What is the STR tax in Nevada? Nevada doesn’t have a set statewide tax. However, each city or county can impose their transient lodging taxes on a short-term rental, which is why it’s imperative to understand the laws of the county where you’re operating your STR.  How much are Airbnb taxes in Nevada? According to Airbnb, the Transient Occupancy Tax is between 13–13.38% of the listing price in Las Vegas. In Washoe County, Sparks, and Reno, transient lodging taxes are 13.5%.  Our final thoughtsBy filing taxes correctly and maximizing deductions, taxpayers can minimize their tax liabilities and increase their chances of gaining bigger refunds. Review our guide on the essential differences for rental property owners to determine whether to manage a long-term rental or STR. Learn about all of the required documents every landlord needs to manage a rental.  --- ### Georgia Short-Term Rental Tax Guidelines [Georgia Short-Term Rental Tax Guidelines](https://www.singlekey.com/en-us/near-me/georgia/georgia-short-term-rental-tax-guidelines/) Meta: Get to know Georgia's short-term rental tax rules, including country-specific sales tax, hotel-motel fees, and how to gain the biggest deductions from your rental. Date: April 12, 2024 Author: SingleKey Content: Georgia is the land of peaches, sprawling magnolias, and southern charm. From the quaint countryside to the buzzing capital, Georgia has a unique allure beckoning hundreds of millions of domestic and international tourists each year. If you're contemplating becoming a rental property owner, learn how to make the most of rental property tax deductions. What’s considered a short-term rental?A STR is any residential rental property, apartment unit, or room rented out for 30 consecutive days or less. In Georgia, most short-term rental owners are required to get a license. Most permits are regulated at a local level. When should I report rental income on my short-term rental?Tax day in the United States is nearing on April 15, 2024. If you're a first-time vacation rental property owner, talk to a tax professional to maximize your returns. Online platforms like Airbnb handle taxes for hosts in specific jurisdictions, but you may still need to keep track of guest occupancy taxes.While rental earnings are taxable income, there's a 14-day rule exemption for rentals. Platforms like Airbnb and VRBO must also report all earnings. If you're within the 14-day limit, add your rental income to your tax return, note it as additional income, and use the 14-day exception.Do I always need to report rental income on my short-term rental?Even with the 14-day rule, you need to report taxes, but you may be able to deduct operating expenses. In Georgia, Airbnb collects a state hotel occupancy tax of 4% for stays of 89 nights or less.Airbnb guests in Georgia may also pay extra taxes as part of their reservation. County and local sales tax ranges between 2% and 5% for stays of 89 nights or less, which includes a cleaning fee. There is a hotel-motel tax that is $5 per night for stays of 30 days or less.How do I report rental income for my short-term rentals?Keeping detailed records of your rental activities and holding onto receipts can make tax reporting more manageable and help you make the most of your deductions.Follow these steps to navigate the filing process:Step 1: Collect the necessary formsIf you're managing the property yourself, ensure you have all your rental expenses and receipts ready.Rental expenses can include everything from your property taxes, maintenance costs, cleaning supplies, and repair costs. Here’s a detailed guide on reporting rental income.Step 2: Decide if your short-term rental income is active business income or passive rentalActive income involves providing services like regular maintenance and cleaning or investing pre-determined weekly hours into work. It is taxed at higher rates, while passive income earned from managing rentals allows deductions for related expenses like repairs. Ordinarily, a short-term rental falls under the category of a passive income. Rental income is taxed just as active income is taxed. Step 3: Reporting rental income with a Schedule E (Form 1040)In Georgia, when guests book a place with Airbnb, they must pay occupancy taxes, which varies from city to city and is usually between 0% and 8%.The W-9 form collects information from Airbnb, so you can avoid having your rental income withheld. Reporting this income on your tax return, specifically on a 1040 form, ensures you receive the total amount earned from Airbnb.Key tax deductions for short-term rentalsAs a landlord tending to vacation homes, rooms in their primary residence, and apartment units, knowing the ins and outs of tax write-offs is the ticket to meaningful profits. Whether it’s property taxes or upkeep bills, being savvy about deductible expenses can mean the difference between a healthy bottom line and a financial strain.For those running short-term rentals, keep a log of your expenses, including property taxes, utilities, depreciation, and the cost of maintaining the space.Travel expenses to and from your short-term rental property may also count as a business deduction.Use this template to help track your rental expenses. FAQ: Taxes on short-term rentals in Georgia Do you have to pay taxes on rental income in Georgia? In Georgia, earning income from renting out residential properties is taxed at a flat rate of 5%. However, you can reduce the income subjected to this tax by deducting certain operating expenses. Does Airbnb collect taxes in Georgia? Short-term rental marketplaces such as Airbnb and VRBO are required to collect lodging taxes in Georgia from customers and remit them to tax authorities. Individual hosts aren’t liable for the taxes that these marketplaces are required to collect. However, for tax planning purposes, if you’re an Airbnb host, consult with a tax professional to learn if you need a W-9.   How does the IRS know if I have rental income? If you rent a property for more than 14 days, you should report all passive and active income. Even if you rent a property for less than 14 days annually and are using Airbnb, you’re obligated to report all income to the IRS. Our final thoughtsUnderstand all the essential rental documents you will need to steer through the rental process in Georgia.For those still weighing their options, delve into the pros and cons of managing both short-term and long-term rentals. --- ### Guide on Rental Property Tax Deductions in Texas [Guide on Rental Property Tax Deductions in Texas](https://www.singlekey.com/en-us/near-me/texas/guide-on-rental-property-tax-deductions-in-texas/) Meta: Find essential tips for enhancing rental property tax deductions in Texas. Learn how to get the maximum refund and optimize your savings effectively. Date: April 12, 2024 Author: SingleKey Content: Texas is a big state that spans endless prairies, rugged canyons, and the bustling cities of Dallas and Austin. The Lone Star State appeals to all types of travelers and is an ideal place to own a vacation rental.This guide will reveal how to file taxes and maximize deductions for Texan property owners.What's considered a short-term rental?Short-term rentals (STR) are any home or apartment unit rented for less than 30 consecutive days. They are governed by city ordinances and may be subject to licensing requirements and annual renewals by the Development Services Department's Code Compliance division.In Austin, property owners of STRs are required to get a license.When should I report the rental income for my short-term rental?Tax day in the United States arrives on April 15, 2024. Consulting with a tax professional is ideal if you are actively involved in managing the upkeep of your vacation rental.In some places, Airbnb automatically collects and pays taxes for hosts. However, you may have to collect guest occupancy taxes, which necessitates meticulous record-keeping of receipts and dates. That way, when tax day looms, you're poised to optimize your deductions.Do I always need to report rental income on my short-term rental?In many cases, the money you earn from your STR is considered a taxable rental income. Whether you pay taxes on your STR depends on the rental duration. The 14-day rule offers an exemption to those who rent their rental property for less than 14 days annually. Yet, homeowners using online platforms like Airbnb and VRBO should know that these platforms must disclose all earnings.When you find yourself only renting your property for 14 days or less annually, add the vacation rental income you earn to your tax return as additional income, subtract it as an adjustment to income, and note that it qualifies for the 14-day exception.If you rent your rental property for more than 14 days annually, you have to report taxes, but you may also be able to write off operating expenses. How are taxes collected if I host my short-term rental on Airbnb? Airbnb began collecting the state hotel occupancy tax from guests in Texas in 2017. The state transient tax is 6% of the total price of the Airbnb stay, including cleaning fees, but only if the guest stays 29 nights or less. The tax is already included in the total cost that the guest will pay.Airbnb collects the transient tax (the 6%) plus your county's Discretionary Surtax. The transient tax is made up of two parts: a 6% base rate and another part of the tax, depending on which county the short-term vacation rental is, called the county's Discretionary Surtax.Lodging taxes vary by city and may have county-specific rules. For instance, in Harris County, the lodging taxes are 7% in unincorporated areas--an area not governed by a municipal corporation. In Houston, the hotel occupancy tax is 9% in addition to the 6% base.Though Airbnb collects and pays hotel occupancy taxes, hosts still need to file taxes. They will receive their payout minus the service fees Airbnb collected and paid.How do I report rental income for my short-term rentals in Texas?Maintaining detailed records of your rental activities and preserving receipts can help you effortlessly execute the tax reporting process and get the most from tax deductions.The following steps will guide you through the filing process from start to finish. Step 1: Gather the proper formsIf you've entrusted a property management company with overseeing your vacation rental, they should provide you with the necessary documentation to facilitate tax filings. If you manage the property, ensure all of your rental expenses and receipts are ready to file.For a comprehensive breakdown of reporting rental income, check out A Guide to Reporting Rental Income: How to File a Schedule E.Step 2: Determine if the structure of your business is active or passiveIf you earn a rental property income, it is typically considered a passive income. Most STR incomes are considered passive. When rental income is considered active, the property owner actively ensures the habitability of the rental unit by providing services such as routine maintenance, pest control, cleaning, and repairs. If the rental property owner performs these tasks, they are earning active income from the rental property.Active income is usually taxed at higher rates. With passive income, you can deduct expenses related to earning a passive income, like repairs and maintenance.Use this template to help track your rental expenses. Step 3: Reporting rental income with a Schedule E (Form 1040)The W-9 form collects information from Airbnb, such as your taxpayer identification number (usually your Social Security or employer identification number). Providing this information helps you avoid having Airbnb withhold 28% of your rental income for tax purposes. When you use a W-9, you can receive the full amount of your earnings from Airbnb. Report this income to the IRS on your tax return, specifically on a 1040 form.Key tax deductions for short-term rentalsAs a rental property owner managing vacation rental properties, you want to be aware of key tax deductions. From property taxes to repair and maintenance and other rental property expenses, understanding these deductible expenses can help you increase profitability.Here are some rental property tax deductions your short-term vacation rentals may be eligible for: Property taxes: When you rent out a room instead of an entire home for more than 14 days annually, you may be able to deduct some of your mortgage interest and property tax expenses based on the 14-day rule. You won’t be able to deduct 100% of costs if you rent out the entire home. Depreciation deduction: Depreciation counts towards the loss of value of your home. You may be able to deduct a portion of the repair costs each tax year.Maintenance and cleaning: If you are not using online platforms like Airbnb and VRBO, or if you are in a jurisdiction where these online platforms do not collect and pay service taxes, you may be able to write them off during the tax season.FAQ: Rental property tax deductions in Texas Can you write off property taxes in Texas on rental property? Yes, however, you may not be able to write off 100% of the taxes if you are renting out the entire home. Property taxes are deductible expenses as long as those taxes are paid, and you have itemized deductions. What are the tax rates for short-term rentals in Texas? Hotels, motels, and all short-term rental properties are required to pay a hotel occupancy tax of 6%. There are county-specific rules where you may have to pay additional hotel occupancy taxes.  At what age do you stop paying property taxes in Texas? The property tax exemption in Texas is 65 or older. You still need to pay hotel occupancy taxes for short-term rentals for more than 14 days annually. If you use Airbnb, they will collect the hotel occupancy taxes and pay them for some jurisdictions.  Our final thoughtsInvesting in real estate, whether it’s for a vacation rental or a long-term rental, can come with many complexities. Learn about all of the essential rental documents you will need to manage a property in Texas.If you’re still deciding which rental market makes sense for you and your financial needs, explore all of the advantages of managing both short-term and long-term rentals. --- ### Tax Guide on Short-Term Rental Properties in Arizona [Tax Guide on Short-Term Rental Properties in Arizona](https://www.singlekey.com/en-us/near-me/arizona/tax-guide-on-short-term-rental-properties-in-arizona/) Meta: Arizona homeowners can access all-inclusive tax guidance for short-term rentals to learn about deductions and compliance and streamline filing their rental taxes. Date: April 3, 2024 Author: SingleKey Content: Arizona's diverse landscape, spanning expansive grassland to the captivating desert, is a magnet for tourists from across the globe, making it a prime location for investing in vacation homes and short-term rentals.We're diving into the steps you can take to file your taxes and claim all eligible deductions as a property manager renting spaces on Airbnb and VRBO. What's considered a short-term rental?Short-term rentals are generally any rental of 30 days or less. Whether you advertise your vacation rental through social media, Airbnb, or VRBO, when you rent your place for less than 30 days, you need to file a tax return even if you didn't earn a rental income. Renting out your place for more than 30 days is considered a residential rental and has its own set of rules. When should I report the rental income for my short-term rental?If you're renting out your place for holiday events, like winter, spring, or summer break, it falls under the category of vacation rental properties. Usually, people advertise these short-term rental properties on online lodging marketplaces like Airbnb. Airbnb will report rental owner activity during tax season, but you must still file taxes. The good news is that rental property owners earning an active income may write off various expenses. Tax day across the United States is on April 15, 2024. If you file for an extension with the IRS and it's approved, you don't need to file an extension with the state of Arizona. Do I always need to report rental income on my short-term rental?There is a 14-day rule that exempts you from filing taxes if you rent out your property for less than 14 days annually. Airbnb, VRBO, and other similar online platforms must report all earnings even with the 14-day rule in place.Your rental income from the STR is subject to Arizona transaction privilege tax and may be subject to other transient lodging taxes. All businesses that sell services or earn a profit from lodging will need a transaction privilege tax license.How do I report rental income for my short-term rentals?Keeping a log of all your rental activity and including receipts will make your reporting virtually effortless when tax day arrives.Follow these steps to help you get started: Step 1: Gather the proper formsPrepare all the necessary forms and rental information. If you hired a property management company to oversee your vacation rental, the property managers should provide you with receipts and details you'll need to complete your taxes.To learn more about how to file a Schedule E, explore our step-by-step guide.You can use multiple Schedule E 1040 forms to manage multiple vacation rental properties. If you're earning your rental property income from an online marketplace like Airbnb, you can opt to use a W-9 form to collect your information before filing your 1040 form with the IRS. Step 2: Determine if the structure of your business is active or passiveAre you actively ensuring the dwelling unit is habitable by providing routine maintenance, pest control, cleaning service, and repairs? If you answer yes to any of these services, you are doing the job of a property manager and earning an active income. This classification is important to help you capitalize on tax deductions when filing. Usually, the IRS considers profits earned from a rental property passive income even when property owners schedule maintenance and repairs, due to the seasonal nature of these services. Step 3: Reporting rental income with a Schedule E (Form 1040)If you're ever in doubt about how to report your earnings and losses to the IRS, consider consulting a tax professional. They can guide you through all of the nuances of what counts as a valid deductible expense. That way, you are optimizing your return and gaining larger deductions.  As a recap, a tax professional may recommend using a W-9 form to collect information from Airbnb. This will help you avoid having 28% of your rental income withheld. You can collect the full amount of your earnings from Airbnb and submit a 1040 to the IRS. To sum up, a 1040 form is used to tell the government how much money you earned from your STR.Key tax deductions for short-term rentalsYou may be able to write off the following business expenses on your STR:Property taxesMortgage interest rateInsurance premiumsDepreciationFurnishingNew appliancesMaintenance and repairsCleaning servicesTravel expenses and applicable business expensesRemember the importance of keeping an organized record of all your transactions, income, and services, which can help your accountant maximize all eligible deductions.You can use this template to help track your rental expenses. FAQ: Rental property tax deductions in Arizona How is rental income taxed in Arizona? Each city sets its tax rate. In Phoenix, the residential rental property sales tax is 2.3%. There is no state tax in Arizona for rental properties. However, short-term rental owners must register for a license. What expenses can be deducted from rental income? Earning from any rental that you rent for more than 14 days is considered taxable income. The good news is there are business expenses that may be deductible, including: Mortgage interestProperty taxesTravel and transportation expensesMaintenance and repairsProfessional feesInsurance premiums Do you need a business license to operate a STR in Arizona? You may have to register for a transaction privilege tax license, but you are not obligated to have a property management business license if you manage a property for fewer than 31 days. Our final thoughtsWhether investing in real estate as a vacation rental or considering more long-term endeavors, such as a 12-month or period rental, discover all the essential rental documents you will need to manage a property in Arizona. If you need help determining which path is right for you, learn all of the advantages of managing both short-term and long-term rentals. --- ### New York Rules and Taxes on Short-term Rental Properties [New York Rules and Taxes on Short-term Rental Properties](https://www.singlekey.com/en-us/near-me/new-york/new-york-rules-and-taxes-on-short-term-rental-properties/) Meta: Once you begin managing a short-term rental property in New York State, staying informed on local policies, occupancy time limits, and tax laws is essential. Date: April 3, 2024 Author: SingleKey Content: New York State, specifically New York City, was once a thriving hub for investors owning short-term rentals and for the online platform Airbnb. In recent years, politicians have targeted the short-term rental (STR) business as one of the culprits of the housing shortage, passing laws requiring hosts to register their properties with the Office of Special Enforcement.In this guide, we'll explain the new rules for property owners who want to rent out vacation rentals and cover deductible expenses.What's considered a short-term rental?Generally, a home, room, or apartment rented for 30 days or less is considered short-term. In New York City, all hosts must register their properties with the city's Office of Special Enforcement, which limits the rental period for guests to a maximum of 30 consecutive days. However, the short-term rental host must live in the same space and have no more than two guests.In New York City, long-term tenants and building owners can't rent the entire home or apartment to visitors without a host for less than 30 days. If hosts rent outside these rules, they are operating illegally.Each city has its own specific rules. It's essential for hosts to stay informed about the ordinances of each region where they own a vacation rental property.When should I report the rental income for my short-term rental?The deadline to file and settle your taxes is April 15, 2024. New York offers a six-month extension during tax season.The extension date is October 15, 2024. A taxable rental income includes all earnings from renting a room, apartment, or home.Homes and apartment buildings can generally use Form 1040 to report their rental property income.Do I always need to report rental income?All investors must report their rental income to the IRS, but there's an exception to that rule. If you rent out your apartment, unit, or place for less than 14 days annually, your rental income is tax-free; otherwise, you must report your income.All hotel rooms, bed and breakfasts, and some apartment buildings are subject to a tax called the Hotel Room Occupancy Tax. This tax is charged for staying in a room, whether one night or longer, and is paid by the occupant and collected by the host. It applies to all types of short-term housing. The rental property owner must then pay those taxes to the IRS.How do I report rental income for my short-term rentals?To begin, organize your documentation of rental activity, including the dates you rented your space and any services, maintenance, and repairs provided. Use Schedule E (Form 1040) to report rental income on all your properties.The following information offers simple steps to report your short-term rental income.Step 1: Gather the proper formsCollect all pertinent information on your rental. You can report all of your expenses on your 1040 form, and if you have multiple properties, complete as many Schedule E 1040 forms as needed.For details on how to file a Schedule E, check out our step-by-step guide.Here is an essential list to have on hand when filing:Real estate investment financial statementsRelevant receipts with dates for payment, repairs, maintenance, and servicesOfficial documents supporting expenses, if applicableDetailed deductible expensesStep 2: Determine if the structure of your business is active or passiveMany real estate investors choose to list their spaces on online platforms like VRBO or Airbnb, where they can reap the benefits of tax deductions on operating expenses. When filing your income taxes, determine whether your investment property is earning an active or passive income.The fundamental difference between active and passive income is that active income is earned through a job you actively work at, and passive income is earned through an investment that earns profits with little effort on your part. So, if you spend at least 100 hours yearly on the STR, you can deduct losses from your rental business.Some rental-related losses include:RepairsCleaningAdvertisingMaintenanceStep 3: Reporting rental income with a Schedule E (Form 1040)Ideally, if you have access to a tax professional, like an accountant or real estate attorney, seek guidance to ensure you're not missing any important details and can maximize deductions for your vacation rental business.While the IRS recommends using the 1040 form to report your taxes, TurboTax suggests using the W-9 form on STR properties to collect information from platforms like Airbnb before filing your taxes. If you don't provide online platforms, like Airbnb or VRBO, with a W-9, they may be required to hold 28% of your rental income profits. Once you file with a W-9, the online rental business will give you access to the full amount.Here is a quick breakdown of the difference between a 1040 and a W-9:W-9 is a form that can be used by businesses or property managersW-9 gets the information needed to report your taxes—you are giving your information to a venue that is paying you1040 tells the government how much money you earnedKey tax deductions for short-term rentalsSome rental deductions from your STR in The Big Apple will include maintenance fees. If you actively conduct routine maintenance tasks on the property including regular cleaning, and repairs, these costs may be deducted. If you hire a property manager to do the work, those expenses are also deductible. These deductions can help you save money on your taxes, so it’s essential to keep an organized record of your rental-related costs.Here are the essential operation costs to keep track of: CleaningMaintenanceRepairsUpdates for natural wear and tearIn most cases, property taxes, mortgage interest rates, and insurance fees are deductible.FAQ: New York rules and taxes on short-term rental properties Are NY short-term rentals subject to sales tax? Yes, each region in New York may have a county-specific tax rule for which investors are responsible. Failure to comply with paying your local or statewide sales tax can result in financial penalties. Contact your city officials’ office or consult with a NY tax expert to learn more about local sales tax. What are the rules for short-term rental in NY? New York State has applied rigid regulations to STR properties, particularly in New York City. In NYC, the host must register all rentals. Airbnb is only allowed to work with rental properties with registered hosts. All rental income earned from hosting guests for more than 14 days annually is considered taxable rental income.Each county may have specific rules, and property owners are encouraged to stay informed of local laws.In New York City, long-term tenants and building owners can’t rent out the entire home or apartment to visitors for less than 30 days without a host being present. Illegal short-term rentals can result in big penalties. What can you write off in taxes from operating a STR? Most of the time, you can write off property taxes, mortgage interest rates, and insurance premiums on your short-term rental property. Additionally, you may write off other business expenses with official documentation and receipts. Some deductible business expenses may include:Travel expensesMaintenance feesCleaning feesRepair fees to improve natural depreciation or damage from natural disasters Our final thoughtsSpeak with a real estate attorney to help you navigate the complexities of New York State STR laws, file taxes efficiently, and maximize deductions. If you're thinking about taking the plunge into the depths of managing properties, whether long-term, periodic, or vacation rentals, learn to streamline the process with all the required documents every landlord needs. --- ### Understanding California Taxes on Short-Term Rentals [Understanding California Taxes on Short-Term Rentals](https://www.singlekey.com/en-us/near-me/california/understanding-california-taxes-on-short-term-rentals/) Meta: Landlords will discover what counts as a California short-term rental, understand regulations and new occupancy taxes, and learn how to optimize deductions. Date: April 3, 2024 Author: SingleKey Content: Investing in vacation rental properties through online marketplaces like Airbnb or VRBO can yield lucrative profits. If you're considering renting your home in California as a vacation rental, familiarize yourself with the county-specific regulations on investment properties, understand the new occupancy taxes, and learn how to maximize deductions for your rental property.In this article, we'll explore helpful insights on how to take advantage of short-term rental tax deductions and profits, as well as understanding eligibility.What's considered a short-term rental?In California, any period of less than 30 consecutive days is considered a short-term rental. Coordinating a short-term rental property through online homestays like Airbnb is standard practice.Every county ordinance may vary, and each region may enforce rules using precise protocols. For instance, in San Diego, rental property owners who plan to rent their homes for short stays (less than one month) must obtain a Transient Occupancy Tax Certificate. In addition to charging occupants a rental fee, you must charge a Transient Occupancy Tax (TOT), which goes to the government.Los Angeles requires your STR to be your primary residence.When should I report rental income on my short-term rentals? All rental income must be reported when you submit your annual state tax return. The due date to file tax returns and pay balances is Monday, April 15, 2024. California allows an automatic extension until October 15, 2024, to file returns on taxable income; however, you must pay your balance by April 15, 2024. Real estate rentals can generally use Form 1040. Do I always need to report rental income on my vacation rentals? Whenever you earn money from renting your home, rooms, or guest house, you typically have to pay taxes on that income. However, you can take steps to minimize the amount of taxes you're required to pay.According to TurboTax, under the 14-day rule, you're not obligated to report rental income on a STR as long as you rent the property for no more than 14 days annually. On the other hand, if you use the STR for personal use for more than 14 days per year, the IRS limits what you can deduct from transient occupancy taxes. If you're renting to make a profit and don't use the home or unit as a residence, your deductible rental expenses will likely be more than your rental income.How do I report rental income for my short-term rentals?It's important to correctly handle rental income expenses for tax purposes and understand what paperwork you must file with the IRS. Use Schedule E (Form 1040) to report rental income on all your properties. To help get started, follow these three steps.Step 1: Gather the proper formsGathering the correct forms for filing Form 1040 taxes is essential because it ensures you submit accurate rental income and expense reporting to the IRS. With Form 1040, you can report income and losses from your rental real estate. You can complete as many Schedule E forms as needed if you have several rental properties.Here’s a detailed guide on how to file a Schedule E. Good bookkeeping throughout the rental process will help keep you organized and streamline the process when it's time to do your taxes. Here is a record of items you should have that will come in handy when filing: Comprehensive financial statementsSome travel expenses to coordinate repairsSource of receipts with datesDocuments supporting expensesDetailed deductible expensesBusiness expenses related to the STRYou can use this template to help track your rental expenses. Step 2: Determine if the structure of your business is active or passiveRentals facilitated through Airbnb can be a good idea for many reasons, but one of the most beneficial is the tax deductions you can get. The IRS views Airbnb as a business and not solely a rental property, mainly because the rental period is usually seven days or less. The difference between active and passive businesses is that active income is earned through your job, and passive income is earned through an investment. So, if you spend at least 100 hours yearly on the STR, you can deduct losses from your rental business. Losses can include repairs, cleaning, advertising, and maintenance. A passive income is earned through an investment when you engage in minimal work. Filing a 1040 can help you capitalize on losses if you are actively managing your rentals.Step 3: Reporting rental income with a Schedule E (Form 1040)Consulting with an accountant specializing in property taxes and taxable income can help guide you through the intricacies of reporting your rental income while ensuring you are complying with your state's tax laws. Now that you have your forms and paperwork organized and completed, you're ready to submit.Key tax deductions for short-term rentalsA new law in California, the Labor Force Housing Financing Act of 2023, will add a 15% tax to STRs, like Airbnb, and go into effect on January 1, 2025.Some key tax deductions for STR in California include maintenance, repairs, property management costs, cleaning, insurance premiums, and depreciation.In California, property taxes are tax-deductible. Deductible maintenance, repairs, and operating expenses include fixing the plumbing, repainting walls, and making the home more habitable and safe. FAQ: Understanding California taxes on short-term rentals In California, are the earnings from a STR considered taxable income? You don’t have to report your rental income if you rent out your property for less than 14 days annually. A STR is when you rent out your property for more than 14 days annually or less than 30 consecutive days. All earnings from a short-term rental are taxable income. What is the tax on short-term rentals in California? All income tax payments are due April 15, 2024. Beginning January 1, 2025, a new bill will impose a 15% tax on short-term rentals..  What expenses can be deducted from a rental income? Expenses may include property tax, operating expenses, depreciation, maintenance, and repairs If you are actively involved in the rental activity and operations. Our final thoughtsMaximize your tax deductions on Airbnb properties by consulting with a real estate attorney. They can coach you on how to structure your business so you are getting the best returns. To learn more about managing rentals in California, whether you are dipping your toes in the STR market or considering managing fixed and period term leases, collect information on all of the required rental documents every landlord needs. --- ### Ohio Rent Increase Guidelines for Landlords [Ohio Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/ohio/ohio-rent-increase-guidelines-for-landlords/) Meta: Master the rental process when tactfully increasing rent, adhering to Ohio state laws by staying attentive to economic shifts and your profitable return goals. Date: February 28, 2024 Author: SingleKey Content: As an Ohio-based landlord, it's either smooth sailing or a juggling act. Understanding local and statewide rent control laws, the housing market, and economic conditions can guide rent adjustments and steer you toward your financial goals. Learn more about Ohio's rental process in this guide.2025 updates to Ohio's rent increase guidelinesIn Ohio, local rent control ordinances are restricted from capping rent increases. Ohio prohibits local governments from creating their own rules regarding rent stabilization. Instead, Ohio enacted Bill 430 in 2022, urging landlords to maintain reasonable rent levels and not increase rent unfairly when new tenants move in.The motivation behind rent control often stems from the scarcity of affordable housing options. With Ohio’s recent laws preventing rent caps, the aim is to foster competition and expand the availability of affordable housing by increasing inventory through building.How to raise rental rates in OhioBefore adjusting the rent on your rental property, it's essential to determine a fair price and prepare the proper paperwork notifying tenants. Follow along with these steps to streamline the process.Step 1: Determine your new rent priceStart by reviewing the rental agreements you have in place and researching the prices of similar rental units in your neighborhood.Consider factors such as market value, current market conditions, and, most notably, your financial goals.When there's a demand for housing, mingled with various economic factors, rent prices tend to go up. Many economic elements can affect the housing market.Step 2: Prepare the notice of rent increaseOnce you've determined the new rental rate, prepare your notice in writing or hyperlink the rent increase notice in an email. Some landlords choose to explain why they are applying a rent hike to the lease renewal.Step 3: Notify your tenant of the official rent increase noticeAlways provide your tenants sufficient notice to plan for the upcoming change in their expenses. By giving your tenants proper notice, they have an opportunity to prepare financially and ensure they can meet the new rental obligation. This also helps you secure your rental income. Strive to give your tenants a 30-day notice at a minimum so that they can make all necessary arrangements.Opportunities in the Ohio rental marketFor all landlords wanting to navigate rental disputes or considering a rental business venture in Ohio, Ohio's rental scene offers worthwhile opportunities and insights. With a median rent of $1,250 and properties ranging from $100 to $119,000, the market presents opportunities and challenges for investors seeking a passive income.The median rent prices have remained steady in the last twelve months since the previous year. In February 2024, Ohio rent costs saw a minor increase of one dollar from January 2024, retaining the median rent.Ohio's average rent vs. the rest of the U.S.Today, there are 14,456 available rentals in Ohio, offering ample opportunities for tenants and landlords alike. The current median rent at $1,250 is $750 lower than the national average, presenting investors and tenants with a more affordable housing market.The national average rent is $2,000. To find the difference in percentages between national median rent and state median rent, use the following formula:(National median rent – state average rent/national median rent) * 100, which means that ($2,000 – $1,250/$2,000) * 100 = 37.5%.Since Ohio's median rent falls below the national average by almost 38%, landlords may find it challenging to maximize profits in this state. The good news is Ohio offers the potential for a steady rental income.Resolving issues about rent control in OhioIf the lease term has expired, and you're considering raising rent, ensure it is a reasonable amount comparable to nearby rent rates and give your tenants reasonable notice to minimize disputes.Avoiding rental disputes and maintaining stable footing in the rental process requires a nuanced comprehension of Ohio's resources and rental mechanics.Here is a complete list of resources for landlords to access: Local Ohio Board of Realtors directoryLandlord-tenant laws, rights, and protectionsRental payment assistance for your tenantsFAQ: Ohio rent increase guidelines for landlords How much can a landlord legally raise the rent in Ohio? There are no rent control laws in Ohio dictating any limitations on raising the rent. However, landlords should adjust to reasonable amounts and not significantly higher if a new tenant is moving into the rental property.  What can landlords not do in Ohio? According to Ohio landlord-tenant laws, landlords cannot neglect an apartment building or rental home and must maintain habitable conditions for tenants to enjoy. Can a landlord increase the rent during the current lease? Under Ohio, rent increase regulations, a landlord cannot raise the rent during term of a fixed-year lease. The only exception is if the lease agreement allows for these adjustments. The rent fee can be increased upon renewal. Our final thoughtsAs a landlord, you can maintain a positive landlord-tenant relationship by being transparent in communication, adhering to the terms in the rental agreement, and keeping up to date with the latest governmental agency-enforced laws.A good rule of thumb is to avoid excessive rent hikes, give tenants reasonable notice before adjusting the rental payments, submit a rent increase in writing, and be responsive to tenant requests and complaints.For landlords concerned about the prospect of unpaid rent, you're not alone. Many housing providers consider enlisting a backup plan like SingleKey’s Rent Guarantee Program in the event of late or missed payments. --- ### Understanding Illinois Rent Increase Guidelines for Landlords [Understanding Illinois Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/illinois/understanding-illinois-rent-increase-guidelines-for-landlords/) Meta: Discover rent guidelines for Illinois landlords, ensuring property owners comply with rent laws. By staying informed, you can avoid disputes with tenants. Date: February 28, 2024 Author: SingleKey Content: 2025 updates to Illinois’ rent increase guidelinesIn Illinois, there's no cap on rent hikes for landlords. However, it's against the law for landlords to use rent increases as a form of retaliation or discrimination against tenants. Since there are no rent control laws, landlords can raise the rent as much as they want.Each state legislature has its own timeline for pushing through pending bills. Housing laws can be presented, considered, and enacted at different times throughout each legislative session.Landlords must stay on top of the latest approved laws to comply with local and state regulations. The Illinois General Assembly will gather in January to potentially introduce rent control measures. The end of the session is in May or June.How to raise rents in IllinoisHousing inventory often influences the fluctuation of the rental market. If there is a demand for housing and a decrease in inventory, that can drive rates up. Many landlords consider the economic conditions when arriving at rental rates. Here's a detailed breakdown of the steps involved in raising rents in Illinois:Step 1: Determine your new rent priceBegin by reviewing the lease agreement to ensure you can raise the rent, and there aren't rent increase limits. Before setting the new rental prices when the lease term has ended, consider how much other nearby rental units charge for rent, what your cash flow is, and how the current economy can impact the market, your property taxes, and cost of living. Once you've determined if your new rental rate is fair and will help you meet profitable return gains, you can prepare the written notice in advance. Step 2: Prepare the notice of rent increaseIn most cases, landlords include the official rent increase notice along with the new lease agreement. Hyperlink your official rent increase notice in an email addressed to your tenants. Whether to offer a brief description of the rent bump is entirely at the landlord's discretion. Keeping an open line of communication and being transparent can cultivate understanding and goodwill in any relationship. Here's an example of an email you might consider sending to your tenant: Dear Tenant [include Tenant's Name],I hope this message finds you well. I'm reaching out to discuss changes in our upcoming rental agreement due to current economic conditions.After reviewing market trends and expenses, I'm adjusting the rent slightly to ensure we can cover property maintenance costs and other financial obligations.We value you as a tenant and appreciate your understanding. If you have questions about the rental agreement or increase, please feel free to reach out. Best wishes, [Your Name]Step 3: Notify your tenant of the rent hikeEach city may have varying guidelines on how much notice to give your tenant before raising the rent. In Chicago, for instance, if a landlord intends to increase the rent, they must provide:A 60-day notice if the tenant has resided in the apartment for over six months but less than three yearsA 120-day notice if the tenant has lived in the apartment for over three yearsPrepare in advance if your city mandates a 60-day notice for tenants. Offering early notice allows tenants ample time to adjust their finances and make necessary plans.Resolving issues about rent controlResolving any problems with rent control, rental properties, security deposits, and rent payments can feel overwhelming, but there are ways to handle it with grace when you're informed on all topics. If a rent increase raises concerns with your tenant, start by reviewing local laws and the lease agreement. By being transparent when you initially raise the rent, you can minimize any disputes.Look for guidance from landlord advocacy groups or legal advice. Always give tenants sufficient notice when you modify the rental agreement after the lease term ends. If your tenant moves out, and you take any portion of the security deposit, you must provide the tenant with an itemized list of the charges within 30 days. If you fail to do so, you must provide the tenant with a full refund.Raising rent in retaliation is prohibited. Illinois maintains a comprehensive database of laws, including laws regarding rental properties. It may take time to update the database when new laws are passed. Alternatively, you can find recently approved rent control laws or security deposit laws on the Public Acts website if you can’t find newly enacted legislation on the Illinois General Assembly (ILCS) website. Here are additional resources:Eviction action for unpaid rentRental housing helpFAQ: Illinois rent increase guidelines for landlords Are there new landlord-tenant laws in Illinois? As of January 1, 2025, the Landlord Retaliation Act prohibits landlords from raising rent in retaliation against tenants who have filed complaints about unsafe living conditions. Tenants who face such rent increases can seek damages against the landlord equal to two months’ rent or twice the damage sustained, whichever is greater. They can also ask to have their attorney’s fees covered. What is retaliation against tenants? Retaliation against tenants in any way is prohibited. Retaliatory rent increases may involve raising the rent in response to tenant complaints or repair requests. Some tenant complaints may result from the following actions by landlords:Failing to provide reasonable notice on rent adjustmentsNot following a new rent control ordinanceViolating the terms in a residential leaseImplementing excessive rent hikes in retaliationFailing to keep the apartment complex or rental property habitableIf a landlord follows the rent control ordinance and does not raise rent on ill-natured intent, they are not retaliating. How much can a landlord raise rent in Illinois? Illinois has no statewide rent control laws or limitations on rent increases, so a landlord can raise the rent to any amount. Landlords are advised to stay aware of new rent control regulations and give proper notice to tenants before raising the rent. Our final thoughtsBefore raising the rent, landlords should comb through their rental agreement and check newly approved rent control ordinances to ensure they follow the laws and prevent landlord-tenant disputes. Currently, there are no rent increase limitations in Illinois.Some laws give landlords and tenants legal rights and responsibilities. Contact your local government agencies if you have questions about what tenants and landlords are responsible for in their rental units. --- ### Florida Rent Increase Guidelines for Landlords [Florida Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/florida/florida-rent-increase-guidelines-for-landlords/) Meta: Discover Florida's rent increase reforms, from the absence of rent regulations to new legislation that may transform the Florida rental process for landlords. Date: February 22, 2024 Author: SingleKey Content: In the sunny state of Florida, rent regulations are absent, but emerging laws could alter notice requirements for landlords. Keep reading to learn how to adjust rental rates while keeping tenants satisfied.2024 updates to Florida's rent increase guidelinesThe state of Florida currently lacks rent control regulations that place limits on rent hikes. This means that a landlord can raise the rent to any amount and does not have to give notice to their tenants. In a significant new development this year, the proposed bills HB 1417 and SB 1586 would require landlords give advance notice to their residents before raising rents.Another way this act will reshape Florida rental laws is by prohibiting landlords from ending a month-to-month lease period without giving the tenant 30 days’ notice of termination. Landlords should stay current with new rental laws following the conclusion of each legislative season. How to raise rental prices in FloridaExtending a 30-day notice before adjusting rental rates is considered good tenancy etiquette and standard practice. Before the lease term expires, plan ahead and follow these steps to raise rents in Florida efficiently.Step one: Determine new rental ratesEnsure that your rent covers your mortgage and property taxes. If the current rent covers the previously mentioned expenses, assess your actual maintenance and repair budget from the previous year. If affected, consider your cash flow and anticipated costs.Think about the market trends as you enter the new lease term. A surge in housing demand and a decrease in inventory can potentially elevate rates or push the economy into a precarious state.What are the rental prices for other nearby 12-month leases with similar amenities? Whether you are overseeing a fixed, month-to-month, or week-by-week lease, it is essential to do research to arrive at a fair rate.Step two: Prepare the notice for the annual rent hikesAfter determining your rental price, draft the required documents in writing. Hyperlink your rent increase notice. The decision to provide a brief explanation for the rent hike is at the landlord's discretion. Step three: Notify your tenant of the rent increaseTo facilitate effective communication with your current tenants, provide at minimum a 30-day notice in writing, notifying them of the rent hike.Resolving issues about rent controlFlorida, a subtropical haven, has experienced a net increase in population over the past few years. The absence of rent regulations and significant annual rent increases since 2020 have made it challenging for many locals to secure affordable housing, leading to an uptick in landlord-tenant disputes in the state.As a landlord, your primary objectives are to maintain a steady rental income, ensure tenant satisfaction, and prevent disputes. Listening to tenant concerns can help mitigate various issues. To ease the blow of rental increases, clearly communicate to tenants that economic factors and market rates are influencing the adjustment. If you've undertaken significant property repairs or plan to invest in new appliances, these are valid reasons to justify a higher rent. If your tenant is facing challenges paying rent amid a housing crisis or you require assistance navigating the rental process, consider exploring various resources before resorting to legal advice. Here are some helpful sources for addressing rental-related issues:Florida landlord-tenant lawsPublic emergencies and natural disaster assistanceResidential lease agreement for single-family home or duplexRent Guarantee for securing rental paymentsFAQ: Florida rent increase guidelines for landlords How much can a landlord raise the rent in Florida? In the Sunshine State, there are no restrictions on how much a landlord can raise rent payments on their rental property. While there are no statewide rent control laws, many cities, particularly in South Florida, are seeking to instate rent regulations.  Are there any new rental laws for 2024 in Florida? The “Keep Floridians Housed Act” is a legislative initiative aimed at fostering affordable housing options and stability concerns in Florida. The main goal is to prevent landlords from expelling tenants who are victims of domestic violence, including dating violence or stalking.  How much can a landlord charge for a security deposit in Florida? There are no security deposit or rent increase limits in Florida. In 2023, Florida Governor Ron DeSantis approved monthly fees in lieu of a security deposit as an option for tenants. This law allows tenants who can’t come up with a security deposit to pay a small monthly fee instead. The monthly fee is non-refundable and does not apply to property damage.Ideally, tenants should opt for security deposits because they will get a full refund, and if there is accidental property damage, it gets withdrawn from the security deposit. Our final thoughtsIn response to Florida's absence of rent control, lawmakers are taking action in 2024. If these bills are passed, they will take effect by summertime, implementing changes that include requiring landlords to give notice of rent increases.For landlords seeking ideal tenants, explore SingleKey's Tenant Screening process to make educated decisions. Tenant screening helps verify if prospective tenants are financially reliable and offers peace of mind for landlords. --- ### New Jersey Rent Increase Guidelines for Landlords [New Jersey Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/new-jersey/new-jersey-rent-increase-guidelines-for-landlords/) Meta: Learn how to implement landlord-tenant guidelines by staying compliant with local laws and reviewing market rates, property taxes, and upgrades before raising rent. Date: February 19, 2024 Author: SingleKey Content: Housing providers must consider the impact of rent hikes on tenants, comply with local and statewide laws, and manage their cash flow effectively. It's essential to assess your investment property goals, ensuring worthwhile profits. In this guide, we'll dive into where to look for local rent increase rules, how much notice is sufficient, and steps you can take to determine a new rental rate and gracefully raise the rent to retain quality tenants.2025 updates to New Jersey's rent increase guidelinesNew Jersey currently has no statewide rent control laws. However, cities can enforce their rent control ordinance. To help determine if the city you're in has rent control rules or if rent control laws apply to a specific rental unit, reach out to the municipal clerk in the area of the rental property. In case the tenant resides in an approved rental unit under the Housing Choice Voucher Program (HCV), the landlord must submit a rent increase request to the Department of Community Affairs (DCA).How to raise rental rates in New JerseyThe ideal approach to rental increases is to collect a solid foundation of data, making the process less daunting and ensuring your real estate investment is profitable. Follow these steps to avoid sticky or awkward situations and streamline the process.Step 1: Determine your new rental rateResearch the rental market trends and market-rate prices, and write down your rental income goals. Once you've budgeted your cash flow from the lease term and your projected maintenance and repair expenses, you can set a new rental rate.Step 2: Prepare the notice of rent increase Be thorough about documentation. Prepare an email notifying your tenants of the rent adjustment to your rental properties. If you draft a new rental agreement, adjust the new rent amount. Hyperlink the rent increase notice in an email to the tenant and include all necessary forms.Step 3: Notify your tenant of the rent hikeIn New Jersey, landlords must give tenants written notice before increasing rent. For month-to-month leases, at least 30 days' notice is required. For fixed-term leases, landlords usually need to give 60 to 90 days' notice before the lease ends if they plan to raise the rent upon renewal. Some municipalities have local rent control ordinances that may require longer notice periods or impose additional restrictions. In these cases, the local ordinance takes precedence over the statewide requirements. Consult the New Jersey Housing Authority to stay updated on the regulations that apply specifically to your rental property’s location.  .  Resolving issues about rent controlProperty owners should handle rent increase notifications with finesse when informing their tenants about an uptick in rent. Soften the impact by attentively listening to your tenants’ concerns and communicating the reasoning behind the adjustment. Whether it's because the current rent is below the market rates or your property taxes and cost of living have increased, transparency will foster understanding. The following New Jersey rental sources will guide you through proper landlord-tenant legal procedures, allowable rent increases on specific residential properties, and HCV-approved rental units:DCA affordable housing optionsEviction process for landlordsScreening process for long-term tenantsFAQ: New Jersey rent increase guidelines for landlords How much can a landlord raise rent in New Jersey? There are no statewide limitations on rent increases in New Jersey. However, each city has the authority to implement its own rent control limits. Every landlord should research their local rent increase limit to see if the laws apply to their property or housing unit. Additionally, landlords should stay informed about new rental bills passed following legislative sessions. Can a landlord increase the rent during the current lease? New Jersey’s rent increase laws state that a landlord cannot increase the rent during the existing lease. If the fixed-term lease has ended and you entered a month-to-month lease, you must give the tenant 30 days’ notice before raising the rent. Can lease agreements automatically renew in New Jersey? When the 12-month lease term expires, if the tenant continues to pay rent and the landlord collects the rent, the lease can enter into a month-to-month agreement. The landlord must provide proper notice if they wish to raise the rent. In New Jersey, 30 days’ notice is required.  Our final thoughtsNew Jersey rent control laws are relatively straightforward. Ensure you check with your city's municipal rent control ordinance to learn about local laws and be transparent with your tenants to maintain a good relationship. While landlords aren't obligated to explain rent hikes, addressing tenant concerns or clarifying the necessity fosters understanding and builds a solid tenant-landlord relationship. Follow the link for New Jersey's rental documents and get access to all the documents a landlord needs, from rental applications, tenant screening information, rental agreements, inspection forms, and sufficient notice of intent to enter premises when you need to inspect or schedule repairs. --- ### Georgia Rent Increase Guidelines for Landlords [Georgia Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/georgia/georgia-rent-increase-guidelines-for-landlords/) Meta: Streamline rent hikes by setting fair prices and staying informed on housing laws. Clear communication will strengthen the landlord-tenant relationship. Date: February 13, 2024 Author: SingleKey Content: 2025 updates to Georgia's rent increase guidelinesCurrently, there are no rent regulations in Georgia, meaning landlords can raise the rent to any price without having to worry about capping the rent. The only exception applies to tenants over 62 who receive most of their income from social security or disability benefits. Bill HB 938 prohibits landlords from increasing the rent for this demographic by more than 10%. This limit applies from June 30, 2024, to December 31, 2026.A landlord can make rules about properties they own, and if they or the tenants agree to a specific rent increase limit within the lease agreement, a county or city governing body can't stop them. That being said, lawmakers have been pushing for Georgia cities to have the power to enforce rent control laws during a housing crisisHow to raise rents in GeorgiaWhen a fixed-term lease is up, the tenant can enter into a tenancy-at-will arrangement without a formal lease. There is no definite date for an end of the lease term with a tenancy-at-will; however, the landlord or tenant can end the tenancy at any time by giving proper notice at least 60 days in advance. If the landlord and tenant do not enter into a month-to-month lease, the landlord can give the tenant a notice that the rent will increase, and the tenant has to pay if they remain in the rental property. A landlord can also draft a lease renewal detailing the new rental prices.Before raising the rent on a month-to-month lease, the landlord should give the tenant at least a 60-day heads-up in writing.For fixed-term leases, landlords are not allowed to raise the rental price during the lease term unless specified in the lease agreement.Here are steps you can take before setting a new rent price.Step 1: Determine your new rent priceAnalyze market trends, assess cash flow, and establish clear return goals. Researching nearby rentals with similar features and amenities provides helpful insights into the average rental rates––what are those landlords charging for monthly rent? Though Georgia currently has no restrictions or rent control laws, staying informed is crucial, as the fair housing laws can change.Step 2: Prepare the notice of the rent hikePrepare the notice of increases. It's your preference to write a brief explanation to the tenant detailing why you are raising the rent. Hyperlink the annual rent increase and any other necessary forms, such as an addendum, if your tenant recently got a new pet and you are requesting a pet deposit.Step 3: Notify your tenant of the rent hikeEnsuring your tenant gets sufficient notice about a rent increase during the lease renewal keeps the landlord-tenant relationship running smoothly. In Georgia, landlords must provide a written 60-day notice of rent increase for month-to-month leases.Resolving issues about rent controlTo guide you in the right direction when questions arise about the rental process, here's a list of resources to help you stay on the right path:Local Fair Housing lawsLandlord-tenant regulations and basic tenant rightsTenant Report for property ownersFAQ: Georgia rent increase guidelines for landlords How much can a landlord raise the rent on a new lease term? There is no cap on how much a landlord can raise the rent when renewing the lease agreement. How much notice must a Georgia landlord give their tenants for rent adjustments on a rental property? The landlord should give the tenant a 60-day notice period before adjusting the rent, mainly if there is no renewal when the lease period expires and the formal lease turns into a month-to-month, tenancy-at-will rental agreement. What can a landlord not do in the state of Georgia? Retaliation against tenants is prohibited. For example, a landlord can’t raise the rental costs if a tenant reports unfair practices or uninhabitable conditions inside the rental to the housing authorities.If the tenant continually fails to pay rent on time, the landlord may start the eviction process. When the tenant fails to pay rent on time or engages in disruptive behavior that compromises the safety of other residents, any action the landlord takes in response to these issues is not considered retaliation against the tenant. Landlords should seek legal advice if they are unsure of how to navigate an eviction. SingleKey offers a Rent Guarantee program that handles the process from start to finish and provides solid legal advice. Our final thoughtsWhile there is an absence of rent control ordinances in Georgia, property owners should comply with landlord-tenant laws on the limits of annual increases. For important landlord documents, from a rent increase notice to inspection forms, visit Georgia's essential documents for landlords. --- ### Texas Landlord Rent Increase Guide [Texas Landlord Rent Increase Guide](https://www.singlekey.com/en-us/near-me/texas/texas-landlord-rent-increase-guide/) Meta: Texas Landlords will learn how to apply rent hikes on lease renewals wisely while minimizing disputes and maintaining good relations with this rent increase guide. Date: February 13, 2024 Author: SingleKey Content: 2025 updates to Texas's rent increase guidelinesIn the Lone Star State, there aren't rent increase laws on how much a landlord can raise the rent when it's time to renew a lease. Only a handful of cities can create reforms on rent hikes only if a disaster is declared and the city sees the need for emergency housing. There are also no restrictions on how much a landlord can charge for a security deposit. In Texas, a landlord must refund the entire deposit when the tenant moves out, granted there is no damage to the property and the tenant is up-to-date with all their rent payments.To keep those good tenants in your rental properties, and if you need more information on the standard rent uptick or typical security deposit rates, review what neighboring states set as their usual limits.How to raise rents in TexasLearn how to determine your new rental rate, prepare a notice in writing, and give notice to your tenants with these three steps.Step 1: Determine your new rent priceBe strategic with setting your new rent price. Consider the rental landscape in your city and state, and review current market trends and your cash flow. Look at the median rental prices. By researching other properties' rental prices and budgeting for maintenance and repairs, mortgage, and property taxes, you can set goals on what profits you aim to earn.Think about the surroundings of your rental property. Is it nestled by a university? If so, consider how much monthly rent a college student could afford.Step 2: Prepare the notice for the increaseBegin plunging into the paperwork. Streamline the rental increase process by emailing the tenant a hyperlink for the rent increase notice.Giving the tenant a 30-day notice before applying a rent hike to the lease renewal is customary.Step 3: Notify your tenant of the rent hikeBefore you raise the rent, you have to break the news tactfully. The best method is to give your tenant advance notice so you aren't springing an uptick of rent on them. While Texas has no guidelines on how to inform your tenant of a rent hike, you should continue staying up-to-date with the evolving rules in the rental market. Submitting a notice in writing is the best policy to minimize any disputes.Resolving issues about rent controlFor disputes in Texas, we recommend either seeking guidance from attorneys with a specialty in property management or referring to online government sources for answers. Laws and sources may change, so it’s essential to stay on top of  the rental market laws. Refer to the following sources for guidance with the rental process: Application deposits vs security depositsFix-term lease explainedRetaliatory eviction and exceptions for a ban on rent increasesFAQ: Texas rent increase guidelines for landlords How much can landlords raise the rent in Texas? There are no rent regulation laws in Texas. Landlords can raise the monthly rent without being bound to a statewide law placing a cap on increases. While landlords aren’t required to give tenants a rent increase notice, it’s considered the standard practice and will help maintain a good relationship with your tenant.  What is landlord retaliation? Suppose you end a lease because your tenant complained about the rental or services or you raise the rent because your tenant filed a complaint against you. In that case, that is considered retaliatory eviction or action. When is a landlord prohibited from raising the rent? Some cities in Texas may create laws limiting rent increases if the state declares a housing crisis or emergency. Landlords should refrain from raising the rent if the tenant has recently filed a complaint concerning the rental unit’s conditions.  Our final thoughtsWhen it comes to delivering the news of a rent increase to your tenant, a solid guideline is to provide them with a 30-day heads-up. Elevate the rent to a fair figure, making sure it aligns with your return on investment (ROI) goals.Follow the link for all essential Texas rental agreements and documents every landlord needs. --- ### Learning Nevada’s Rent Increase Guidelines for Landlords [Learning Nevada’s Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/nevada/learning-nevadas-rent-increase-guidelines-for-landlords/) Meta: Landlords in Nevada should learn guidelines to ensure fair practices while maximizing their return on investment and fostering a healthy landlord-tenant relationship. Date: February 13, 2024 Author: SingleKey Content: 2025 updates to Nevada's rent increase guidelinesMany lawmakers in Nevada advocated for rent reforms that would ease the financial strains on tenants facing excessive rent hikes without annual limits on rent increases. Presently, Nevada has no rent increase restrictions.Last year, Senate Bill 426, which aimed to limit landlords from raising rent during the first year of a lease term and cap annual increases at 5%, was rejected.There are no new laws in Nevada governing rent increases on residential properties in 2025. However, it’s expected that lawmakers and tenant advocates will continue to press for reforms surrounding rent control. Landlords who own rental properties in Nevada should stay informed about potential future changes to ensure they’re in full compliance with rental regulations.If you are considering becoming a landlord in Nevada, you may increase rent to a reasonable rate, but you must give tenants advance notice in writing. How to raise rents in NevadaHere is a breakdown of how to adjust your rent: Step 1 Determine your new rent priceBegin by assessing the new rental price based on existing rental market conditions and your financial considerations, including property taxes, the regular maintenance and repair budget, and your goal profit gains. What is the cost-of-living increase during inflation? What are the rental rates in your neighborhood? Answering these questions will help you arrive at an informed decision when deciding how much to raise the rent on tenants.Step 2: Prepare the notice of rent increaseOnce you've nailed down a reasonable rent price, organize the necessary documents for a rent adjustment, including any required forms. Hyperlink relevant forms to simplify the process.Step 3: Notify your tenant of the rent increaseEven before your lease has expired, you're obliged to give tenants proper notice—30 days' notice before applying an increase in rent for weekly rentals and 60 days' notice for a long-term rental agreement.Resolving issues about rent controlResolving disputes in the renting process can be complex. You can access valuable guidance by following these steps to help you through the lease renewal process and drafting a lease agreement. Here are helpful sources that will guide you through the landlord-tenant laws: Tenant rights and Nevada landlord-tenant lawsInformation on landlord-tenant regulations Tenant screening is essential in attracting and approving good tenants at your rental property. With a comprehensive Tenant Report, discover how financially reliable a prospective tenant is through credit reports, an online record search, income verification, and previous rental history. Screening tenants will help you minimize tenant disputes when it's time to increase the rent for the new lease term.FAQ: Nevada rent increase guidelines for landlords How much can my landlord raise my rent in Nevada after the lease? The Nevada landlord-tenant law does not impose restrictions on rent increases. To maintain a positive landlord-tenant relationship, landlords should consider reasonable rent prices when adjusting the rental rate. Landlords can’t raise the rent in retaliation. Raising the rent in retaliation refers to an event when a landlord raises the rent because the tenant submits a violation complaint, including health and safety concerns. Retaliatory conduct against tenants is prohibited in Nevada.  Is there a cap on security deposits in Nevada? Landlords can’t charge more than three months’ rent for a deposit. All security deposits are refundable at the end of the fixed-term lease if there is no property damage or remaining rent payments. How much notice do landlords need to give tenants before raising rent? If it’s a long-term lease that spans at least one month, landlords must provide tenants with a 60-day written notice. For periodic leases that operate week to week, landlords must give an official rent increase notice 30 days in advance. The notification can be separate from the new lease agreement. Our final thoughtsRent stabilization laws help keep rental prices from rising too high and are usually implemented during rising rent-hike trends or when certain market conditions, like a housing crisis, warrant reforms. When prices soar above the average rent, it's usually a result of an increased cost of living or a lack of state and local rent regulations. As a landlord, you should know your legal rights and stay up-to-date with local rent control policies.As a landlord in Nevada, your priorities are to retain good tenants by providing affordable housing and maximizing your return on investment. Landlords should get the most value and profit from their investment without rent price gouging when raising the rent. Learn more about the legal obligations of landlords residing in Nevada and get all of the essential documents every landlord needs, from inspection forms to notice for rent increase forms. --- ### A Guide for Landlords on Navigating Rent Hikes in Arizona [A Guide for Landlords on Navigating Rent Hikes in Arizona](https://www.singlekey.com/en-us/near-me/arizona/a-guide-for-landlords-on-navigating-rent-hikes-in-arizona/) Meta: Landlords in Arizona will better navigate rent increase steps for a smooth process that fundamentally helps maintain a harmonious landlord-tenant relationship. Date: February 7, 2024 Author: SingleKey Content: Landlords in Arizona have flexibility in making rent adjustments without limitations. For a month-to-month lease, you can increase the rent as much and as often as you like, provided you give your tenant proper notice (fixed-term leases require you to wait until the term expires before implementing a rate hike). Still, raising the rent is a significant decision that takes careful consideration. In this guide, we'll explore steps in making rent adjustments with insights on ensuring a fair process that maintains a positive relationship with your tenant. 2025 updates to Arizona's rent increase guidelinesAccording to the Arizona State Legislature, cities can't make their own rent increase laws on how much a landlord can charge for rental increases unless a city agency owns the rental property. Landlords participating in the Housing Choice Voucher Program must report their new rent price to the Public Housing Agency (PHA) 60 days before the rent increase applies to the lease agreement.As of January 1, 2025, Arizona has eliminated the residential rental transaction privilege tax (TPT). The TPT is a tax that landlords pay for the right to conduct business in the state. Typically, this tax is passed on to tenants, which means the change has the potential to lower the cost of rent. The new law requires landlords to lower their rent fee by the revoked tax starting in 2025, but they can resume charging the same amount in 2027.Any Arizonian with goals to become a landlord should stay up-to-date with new regulations in their regions dictating annual limits on raising the rent. State regulations currently govern rent hike laws, but demands from tenants and local governments suggest a future where cities shape their own rules.How to raise rents in ArizonaAs a landlord, it’s crucial to optimize your cash flow and retain good tenants, so looking at yearly market trends and reviewing what you can afford is essential.When the end of the lease term nears, and it's time to consider rent price hikes, consider taking the following steps to implement fair prices and maximize your ROI.Step 1: Determine your new rent priceThough Arizona has no rent control policies or caps, you still want to raise the rent within reason. The real estate market will influence rising rents. Here is a list of questions to consider when you're trying to make sense of market trends, your maintenance budget, and your cash flow:What are other nearby rental properties with similar amenities charging for rent?How much will your maintenance and repair budget go into the new lease term?What are your own financial needs and goals?What would your tenants consider to be a reasonable rent price? Landlords can adjust rent in residential properties without causing distress to tenants. Your new rent needs to cover operating costs and not be unreasonably higher than the current rent. Once you have a number in mind, you must give proper notice to the PHA. Step 2: Prepare the notice of rent increaseWhen sending the rent increase notice by email, use hyperlinks and include  any necessary forms from the appropriate legal sources. It's the landlord's preference if they want to include an explanation detailing the reasoning behind the change. Step 3: Notify your tenant of the rent hikeLandlords must give their tenants a 30-day notice of the rent increase for a month-to-month lease. A minimum of 10 days notice is required for a week-to-week tenancy. For a fixed-term lease spanning a year or more, it’s customary to provide at least a 30-day notice.Resolving issues about rent controlTo address your tenant's concerns about the new rent price, consider finding a middle ground by proposing a reduced rent hike. Alternatively, you can tactfully communicate with your tenant the option of moving out, if necessary, by giving them a fair notice to make arrangements. Communicating and abiding by the landlord-tenant laws will help facilitate a good relationship. FAQ: Arizona rent guidelines for landlords How much can a landlord raise the rent on rental housing in Arizona? Currently, there are no laws or rent control ordinances on rent hike limits in Arizona. A landlord can raise the rent to whatever they consider appropriate. As a landlord, it’s essential to stay up-to-date with evolving statewide rent control laws.  When is a landlord prohibited from raising rent in Arizona? According to the Arizona Tenants’ Rights and Responsibility Handbook, if your tenant asserts their right to livable rental housing or joins a tenants’ organization, retaliating against them by raising the rent is against the law. Retaliation includes increasing rent before or during lease renewals, withholding services, or evicting within six months of the tenant raising concerns to the property owner.  What is the notice period for ending a lease? For both fixed-term and periodic leases, landlords should give their tenants a 30-day notice if they do not plan to renew the lease. The notice period for ending a week-to-week rental agreement is 10 days. Our final thoughtsStreamline your rent collection effortlessly with our complimentary automated system. Landlords have the ability to adjust rent collection at their convenience—whether it's increasing rent, delaying next month's rent collection, or canceling at any time. Learn more about SingleKey’s automated Rent Collection to ensure prompt payments and minimize concerns of nonpayment of rent. --- ### A Landlord's Guide to New York Rent Increase Guidelines [A Landlord's Guide to New York Rent Increase Guidelines](https://www.singlekey.com/en-us/near-me/new-york/a-landlords-guide-to-new-york-rent-increase-guidelines/) Meta: Navigate New York State rent laws with certainty. Prioritize fair tenant practices while meeting your goals to cover expenses and meet profit gain goals. Date: February 5, 2024 Author: SingleKey Content: The conditions of the economy often influence rent regulations. When the economy is growing, there are rises in rent. During economic challenges, every city may adopt laws that strive to achieve a balance aiding tenants and landlords.In this guide, we'll dive into the ever-evolving landscape of rent laws in New York.2025 updates to New York’s rent increase guidelinesIn 2025, the NYC Rent Guidelines Board established guidelines for rent-stabilized leases up for renewal between October 1, 2024 and September 30, 2025. With the new rent control laws, a landlord can raise the rent a maximum of 2.75% for a one-year lease and 5.25% for a two-lease. In New York, non-stabilized leases mean landlords can raise rent without limits. If it’s a 5% or more hike though, tenants must have a heads-up through a written notice. Beyond rent, there are numerous tenant-related reforms.Statewide rent laws in New York cap the security deposit up to one month of rent. For example, if the rent is $2,000 monthly, the landlord can charge up to $2,000 for the security deposit.How to implement rent hikes in New YorkFollow these simple steps to implement rent increases. Step 1: Determine your new rent pricesBefore establishing your new rent price, research your local rent increase laws and consider how much you can afford each month without stretching your budget. By looking at the market conditions and how much money you have coming in (cash flow), you can arrive at a more informed decision on setting a new rental price that is fair to the tenant and will ensure all rental-related costs are covered. Typically, landlords are allowed to implement annual rent increases for all housing except rent-stabilized apartments.Step 2: Prepare the notice of the new rent increase ratesWrite a clear notice to your tenant stating the new rental increase for the renewed lease term. The notice can be delivered by email with a link or in written form. Step 3: Give a timely notice to your tenants for rent adjustmentsWhile there is no limit on rent increases in homes or units that don't fall under rent-stabilized housing, landlords must still give tenants notices.Here is a breakdown of a minimum advance notice for different leases:Two-year lease or more: 90 days' noticeOne-year lease or less than two: 60 days' noticeLess than one year: 30 days' noticeThese steps apply to periodic and fixed-term rental agreements. Resolving issues about rent controlIf you encounter any rent control-related hiccups, seek guidance from legal professionals specializing in real estate law with a focus on rent-stabilized apartments. For any other rent-related issues, here is a list of sources to help you navigate the twists and turns of increases in rent:NYC rent freeze for senior citizens or people with disabilitiesNYC rent guidelines board for hotels, rooming houses, and lodging houses Eviction case for non-payment of rent outside of NYCEssential New York rental documents for managing rental units and homesFAQ: New York rent guidelines What is the rent policy in New York? Tenants have 14 days to pay their rent before landlords can take action. New York State has no rent adjustment limit on non-rent-stabilized units as long as landlords provide sufficient notice according to the lease term. What can a landlord not do in New York State? Landlords cannot evict tenants in New York State without “good cause.” The Good Cause Eviction Law, implemented in April 2024, ensures tenants can be evicted only for legitimate reasons. Some examples of just causes for eviction include non-payment of rent and causing significant damage to the property.In addition, landlords must follow specific procedures before filing an eviction request, such as providing tenants with at least 14 days’ notice of overdue rent. They also cannot use pressure tactics, such as changing locks and removing tenants’ belongings. All evictions require a court order before they can take place. When are landlords prohibited from evicting tenants in New York State? There is a winter moratorium on evictions act that prohibits evictions during winter months between November through April.  Our final thoughtsManaging rent increases, maintenance issues, and potential evictions can be a delicate issue. It's essential to balance economic considerations, your tenants' well-being, and your return on investment. Learn how SingleKey's Rent Guarantee Program helps landlords during the eviction action and through tough economic times. With a rent guarantee, landlords are given a financial safety net that reduces stress associated with unforeseen rental income delays.  --- ### California Rent Increase Guidelines for Landlords [California Rent Increase Guidelines for Landlords](https://www.singlekey.com/en-us/near-me/california/california-rent-increase-guidelines-for-landlords/) Meta: Learn how to balance your income growth and retain tenant satisfaction with fair, measured, and lawful rent adjustments in the California rental market. Date: February 5, 2024 Author: SingleKey Content: From faulty appliances and leaky faucets to routine maintenance, it’s necessary to increase the rent, especially during high inflation, when the cost of living, products, and services are higher. While a rent increase may affect your tenant’s expenses, it will help ensure you can maintain ideal living conditions to keep tenants happy.In this guide, you’ll discover how state and local tenant-landlord laws affect your investment property.2025 updates to California’s rent increase guidelinesCalifornia rent control laws strive to create a balanced rental market for landlord and tenant needs. The Tenant Protection Act of 2019 came into effect on January 1, 2020. Under these statewide rent control laws, annual rent increases are capped at 5% plus inflation, or 10%, whichever is lower. Unless it is extended, the Tenant Protection Act will expire on January 1, 2030.Here’s a breakdown:Landlords can add 5% (the base rate) plus the inflation rate (based on the Consumer Price Index, or CPI) to the increase. For example, if the inflation rate is 3.5%, your tenant’s increase would be 3.5% (inflation rate) plus 5% (base rate), which equals 8.5%. In this instance, the increase would be 8.5%. These rate limits apply to rent increases starting between August 1, 2024 and July 31, 2025.The maximum rent increase can’t exceed 10% of the current rent. However, there are noteworthy exceptions to this rule.The newest piece of legislation affecting an essential landlord-tenant law is Assembly Bill Number 12 (AB 12). Beginning July 1, 2024, a California landlord can’t ask tenants for security deposits that exceed the equivalent of one month’s rent. A notable exception to this is if the landlord owns no more than two residential rental properties, totalling fewer than four dwelling units. In this case, they may still collect up to two months’ rent.Check the California Department of Industrial Relations website to get the latest CPI rate before raising rents.How to increase rent on rental properties in CaliforniaBefore we dive into the steps landlords can take to raise the monthly rent, it’s important to note that every city in the Golden State may have its unique set of rules on allowable rent increases and other landlord-tenant laws. Landlords should research local laws before taking action.For a 12-month fixed lease and periodic lease, follow these steps before implementing the annual rent hike.Step 1: Determine the new rent priceResearch how much houses in your neighborhood are selling for and what other landlords charge for rent nearby for similar rental units––these are market trends. Also consider your cash flow and how much you’ll need to cover your repairs, mortgage, taxes, and maintenance costs. You should have a bit of a profit left over, which is your return on investment. Step 2: Prepare and deliver a written notice to tenantsAfter determining the allowable increase and new rent price, give your tenant a rent increase notice before the lease renewal. The state law requires landlords to provide a 30-day written notice if the increase is 10% or less. If the increase is more than 10%, you must give a 90-day written notice. A rent increase limit may not apply to apartments built in the past 15 years, mobile homes, or affordable housing. The notice can be delivered via email with a hyperlink, or you can present the written form in person.Proper notice should include the following information:Current rentProposed new rental rateEffective dateStep 3: Communicate the reasoning behind the increaseOutlining the reasons behind the rent increase can help foster a healthy landlord-tenant relationship, though it is not required according to rent increase laws. Rent control laws evolve with the times. However, one constant is that when inflation and repair costs increase, a landlord must guarantee that rental operations remain intact with a sufficient rental income. Empathizing with your renter and letting them know you have their best interest in mind and are in this together will ease the impact of undesired rent increases.Step 4: Document all rent increasesThe new lease agreement should outline the new monthly rent for current tenants. Keep a log of annual rent hikes and inspections and stay up to date with state and city laws.It’s the landlord’s responsibility to tailor each of these steps to their specific situation, complying with local laws.FAQ: California rent increase guidelines How much rent increase is permitted in California? The statewide annual limit is 5% plus local CPI or 10%, whichever is lower. Individual cities, like San Francisco, have annual rent increase rates governed by city regulations. According to SF.Gov, the annual increases are limited to 3.6%. These reforms ensure that housing providers offer affordable housing options on yearly leases. Consider the cost of rent. Does the cost of rent cover your expenses? Landlords should assess their cash flow and market trends before setting a new rent price instead of implementing the maximum increase. It’s essential to review your rental agreement and be accessible to your tenants. Hear them out on their concerns and explain the reasoning behind the increases in rent. Who is exempt from rent control in California? AB 1482 protects tenants against rising rents and applies to some residential properties. This may include some single-family homes and condos that don’t have to adhere to the law’s provisions if a real estate investment trust or corporation doesn’t own the property. These exemptions must be explicitly stated in the lease agreement and/or disclosed in writing.Ensure you comply with your local rent control ordinances to avoid exceeding the rent cap. In addition to staying informed with rent control rules, review your rental agreement on each of your rental properties and give proper notice before raising the current rate. What actions are prohibited for landlords in California? In California, landlords must refrain from retaliatory actions, such as imposing exorbitant rent hikes beyond the acceptable rent hike or implementing excessive rent hikes that don’t adhere to local laws and rent control regulations. The landlord can’t retaliate if a tenant requests repairs on a single-family home or rental units in a building. If the tenant points out that the landlord is acting against the rental agreement, the landlord can’t retaliate.Landlords should review the California Tenants Handbook to maintain a positive landlord-tenant relationship. Our final thoughtsTimely and clear communication will help property owners minimize questions and avoid disputes when you implement annual rent increases. Rent increases are a part of the rental operations. While they aren’t virtually painless for the tenant, if done tactfully with analysis and consideration of your renter, you can save money while retaining good residents in homes or apartment buildings. Here, you’ll find all of the essential California rental documents to simplify the rental process. Familiarizing yourself with local rent increase laws will help you effectively manage your property.  --- ### New Jersey Rental Agreements and Documents Every Landlord Needs [New Jersey Rental Agreements and Documents Every Landlord Needs](https://www.singlekey.com/en-us/near-me/new-jersey/new-jersey-rental-agreements-and-documents-every-landlord-needs/) Meta: Lease agreements are written contracts between the landlord and tenant. Having the essential documents to manage the rental process will help landlords stay organized. Date: November 17, 2023 Author: SingleKey Content: Landlords must follow protocols and state-regulated procedures when managing one or multiple rental properties. Below, you'll learn about the essential documents you’ll need to help navigate the rental process, from screening potential tenants, collecting a security deposit, drafting lease terms, and doing the final inspection.New Jersey's rental agreements and documents every landlord needsWhen we think of property management, a prominent establishment managing multiple apartment buildings may come to mind. In truth, many landlords own a few investment properties and take on all aspects of managing a property. Whether you’re a property owner who rents one of your homes or multiple homes, you’ve likely learned that the work associated with renting to tenants can spill over into your personal life.Your tenant may call you on the weekend while you’re with your family or during dinner time. If you rely on the rental payments to cover your mortgage on your rental property, late payments may infringe on your personal finances. The mounting nonpayment of rent can be a significant financial strain.There’s also a common misconception that if you own the home, you can determine all of the rules. While this is true, there are still many local and federal laws all landlords must follow.For instance, New Jersey has a Truth in Renting Act where the property manager must abide by landlord-tenant laws and notify the prospective tenant about flood risks, lead-based paint, or previous infestations related to the residential property or rental unit.There are also protocols you must follow when visiting the rental property and during an eviction process. In this guide, we will review all of the essential documents you’ll need as a small-time landlord to manage your property efficiently.Tenant screening, rental agreements, and inspectionsThe first order of business is finding a reliable tenant through tenant screening. Typically, this involves advertising the rental, meeting with multiple rental applicants, and handing out residential rental applications.Download a Residential Rental Application hereThe application will ask for a prospective renter’s personal information, including: Social Security Card (optional) Pay Stub Letter from Employer Previous Next Once the applicant gives written consent to do a background check, you have permission to get a tenant screening report. With SingleKey's Tenant Report, landlords will receive:Income verificationAny known disruptive behavior in previous rental propertiesSocial media and online public record scansCredit checkThe credit check will confirm the applicant's identity and verify employment. Here is a sample credit check from SingleKey.Holding deposit agreementIf the applicant is approved, they can either pay a non-refundable holding deposit (sometimes) or a refundable security deposit. A holding deposit is effective when the rental market is competitive. Here’s a template of a holding deposit agreement that landlords can use in New Jersey.Lease agreementThe lease agreement is given to the tenant before the move-in date. It is a binding contract between the landlord and the tenant. A standard lease defines all of the terms during the tenancy, including the monthly rent amount, due date, grace period, maintenance responsibilities, and other landlord-tenant laws.As an example of maintenance responsibilities, most landlords will include lawn care and major appliance maintenance repairs in the rental contract.There's usually a five-day grace period to pay rent. After that, the landlord will charge a late fee and should outline the amount in the residential lease agreement. A lease exit date is included if the residential tenants are in a fixed-term lease.Move-in/move-out inspection reportThe move-in and move-out inspection report is essential in documenting property damage and normal wear. Suppose the renter occupies the apartment or home for several years. An inspection form will help eliminate the guesswork on whether any damage existed before the tenant moved into the rental.Notice for tenants and essential landlord-tenant documentsNotice of intent to enter In New Jersey, you must give the tenant a notice period stating that you will be visiting the premises or scheduling maintenance on the property. Landlords can text the tenants to inform them or give notice in writing. Ideally, provide the tenant 24-hour notice as a courtesy.Rent increasesRent increases are standard, and the laws vary in each state. There are no laws that control rent payment caps in New Jersey.While the landlord cannot raise the rent during the tenancy, once the lease is up for renewal, a landlord can raise the rent, and there are no rent increase limits in New Jersey. A landlord should provide a 30-day notice to the tenant if they intend to raise the rent.Lease renewals and lease terminationsWhen the lease expires, it's wise to start preparing a 30-day notice for renewal and considering whether you plan to increase the rent. After a 12-month fixed lease is up in New Jersey, the lease automatically enters a month-to-month lease term.Giving residents a one-month notice is mandatory for ending a month-to-month lease.Grounds for eviction include failure to pay rent, disorderly conduct, property damage, or significant violation of the lease terms. When there are months of unpaid rent, the landlord can start the eviction process and serve a notice to vacate, also known as an eviction notice.FAQ: New Jersey's rental agreements and documents What must a landlord provide for their tenants? A landlord must provide habitable living conditions for tenants and alert them of lead-based paint hazards in the dwelling units. What are some of the rights of a NJ tenant? The security deposit should be fully refunded if there is no property damage beyond what was documented during the landlord and tenant move-in inspection. In New Jersey, renters also have a right to a habitable property. Lead-based paint hazards and other previous infestations should be listed in the lease terms.Landlords should provide a notice when they intend to visit the property. The amount of late fees must be defined in the lease terms for late rent payments. Do I need to register as a landlord in NJ? Yes. All rental property managers must register their rental. Our final thoughtsManaging a property can be one of the most grueling jobs, depending on your organizational skills and your tenant. Learn how you can implement a fool-proof tenant screening method with an accurate tenant screening report. This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### Georgia Rental Agreements and Documents Every Landlord Needs [Georgia Rental Agreements and Documents Every Landlord Needs](https://www.singlekey.com/en-us/near-me/georgia/georgia-rental-agreements-and-documents-every-landlord-needs/) Meta: Learn what landlords can do when their tenants stop paying rent or how they can vet an applicant and adequately conduct a final move-out inspection on their rental. Date: November 17, 2023 Author: SingleKey Content: Many scenarios take shape once a landlord starts screening a potential tenant. For instance, after screening their top applicants, they must choose their renters and draft a lease agreement. Landlords are also often confronted with unexpected repairs once the tenants move in and must maintain habitable conditions throughout the lease term.Keeping a list of essential rental documents will help landlords stay organized for any event, including giving notices for repairs, inspections, drafting lease renewals, and rent increases. The rental application and tenant screening processDuring the residential property showing, you'll get the opportunity to have a face-to-face interview with prospective tenants to get a glimpse into who you could be renting to. Once they submit their application, you’ll continue researching your potential renter through a tenant screening report. SingleKey's Tenant Report provides valuable information to the landlord that will reveal the applicant's credit history, monthly income, annual income, and rental history.Download a Residential Rental Application hereHere are the personal documents you can ask for during the screening process:  Georgia driver's license Social Security Card (optional) Pay Stub Letter from Employer Previous Next Explore this sample of a credit check to see what you can learn about a rental applicant.If the applicant has massive debt and an insufficient rent-to-income ratio, you can make an informed decision on whether you should approve the applicant. In Georgia, you may require a non-refundable application fee. The rental agreement, holding deposit, and move-in inspectionGetting everything in writing is critical. Here are the templates for the most essential documents for you to download and start the leasing process: Rental agreement In the rental agreement, you can spell out how much the rent payments are, when the rent is due, late rent fee charges, the lease term dates, the cost of the security deposit, and other landlord and tenant maintenance responsibilities. Download a Residential Tenancy/Lease Agreement template Holding deposit Typically, the tenant pays the security deposit when they sign the lease agreement. However, it’s not uncommon, especially in a competitive rental market, for landlords to collect a holding deposit. This deposit is non-refundable, unlike a standard deposit.Download a Holding Deposit Agreement template Move-in inspection Before the approved tenant moves in, the landlord and tenant should conduct an initial move-in inspection where you both log any damages on the property. Once the lease is up, the inspection log will prove helpful to see how much of the security deposit you should refund.Download a Move-in/Move-out Inspection template Important landlord and tenant documents during the tenancyThere are a lot of responsibilities that come with managing a real estate investment. Unexpected things happen, like leaks, fallen trees, and having to cover the cost of repairs when the tenant is not at fault. Landlords are responsible for understanding and adhering to state laws.For instance, if a tenant submits a written repair request, the landlord usually provides notice for entering the property to address the repairs. Georgia has no statewide rent control law. However, the landlord can only raise the rent after the fixed-term lease is up. The lease term expiration should be stated on the lease form. Landlords should negotiate the new lease before the lease expires. If the tenant remains at the rental and the landlord continues to collect rent, the original terms stated in the lease document still apply. However, the landlord can terminate the lease or apply a rent increase but must give at least 60 days of notice.The process of ending the lease termAs a recap, a lease in Georgia will automatically renew. The landlord can end the lease or raise the rent after the lease expires. They have two options: they can write new terms giving the tenant advanced notice prior to the lease renewal, or they can continue collecting rent and will need to provide the tenant with a 60-day notice if they plan to raise the monthly rent or wish to end the lease.If the tenant stops paying their monthly rent, that is just cause for the landlord to try and evict. The tenant has seven days to pay the rent, and if they do so, they may remain in the rental until the lease expires. The caveat here is the tenant can only do this once. As a landlord, you do not have to accept late payments again before filing for eviction. Nonpayment of rent is grounds for eviction. The landlord must go through the court to obtain a dispossessory affidavit (eviction notice).FAQ: Landlord and tenant documents you need in Georgia What does a landlord have to provide to Georgia tenants? A landlord should provide habitable conditions for each rental unit. There are fair housing opportunities in Georgia that prohibit property managers from refusing to rent or falsely denying the availability of rentals. The Georgia Fair Housing Act prohibits discrimination and intimidation.Property managers must provide water, heating, and air conditioning, and they must equip the rental with smoke detectors. Tenants must also be notified of lead-based paint hazards. What are the requirements to rent in Georgia? All tenants are likely to go through a screening process where they will need to complete a printed or online application and provide the following:Bank statementsSigned rental documents, like the lease agreementPersonal referencesThey also must have good credit. What can’t a property manager do in Georgia? They can only raise the rent during the lease term if it is specified in the lease agreement. The landlord must also complete specific maintenance duties to uphold the building structure. There are some maintenance agreements for landlords to specify in the lease, including seasonal maintenance, significant repairs of property damage not caused by the tenant, flooding, or damages caused by natural disasters. Our final thoughtsHaving all the necessary rental agreements and documents in one place will help aid the process of managing your rental property in Georgia. SingleKey's Tenant Report and Rent Guarantee program can significantly assist you in finding the right tenant and securing your rental income.This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### Texas Rental Agreements and Documents Every Landlord Needs [Texas Rental Agreements and Documents Every Landlord Needs](https://www.singlekey.com/en-us/near-me/texas/texas-rental-agreements-and-documents-every-landlord-needs/) Meta: Texas landlords will benefit from having the essential rental documents to guide them through the rental process and ensure a smooth and successful operation. Date: November 16, 2023 Author: SingleKey Content: Managing properties takes organization, tact, and understanding of the rules, regulations, and protocols you must follow, from vetting the potential renter to the final move-out inspection.Learn how to properly manage a residential property with these essential Texas rental agreements and documents every landlord needs.What is a rental application?A residential rental application is the first step to vetting an applicant. The application precedes the lease contract and is valuable for collecting information from credit reporting agencies and verifying the applicant's identity. It's also an essential form for gathering relevant information that will help inform the landlord on whether the applicant will be a good tenant. Download a Residential Rental Application hereA tenant screening report will verify employment, income sources, credit history, and rental history. Here’s what a sample tenant screening report looks like. Some of the items a landlord can ask an applicant for during the application process include: Texas driver's license Social Security Card (optional) Pay Stub Letter from Employer Previous Next When do you need a holding agreement?While a holding agreement is not typically standard, a landlord can request one from a tenant if the market is unusually competitive. The holding deposit is a financial pledge that the tenant will rent the rental unit, and unlike a security deposit, it is non-refundable. Here’s a holding deposit agreement template you can use for your renter.What does the residential lease agreement include? The lease agreement is your rental contract with the tenant. As a landlord, it's your job to get everything in writing so that you and the tenant remain on the same page from start to finish of the rental contract. The lease agreement should include the following information:The rental property's addressThe lease term or rental periodThe amount of the rental payments and security depositThe due date of the monthly rentThe late fees on monthly rentThe grace period for late rent paymentsPet rent or deposit, if applicableClarification on who is responsible for repairs and maintenance tasks Designated parking spacesNotifications on lead-based paintConducting an inspection on a rental propertyFor a smooth and successful move-in, landlords should ensure the home or unit is clean and everything works properly. If the previous tenant caused any damages or normal wear, including scuffed walls or dingy carpet, it is your responsibility to freshen up the rental for the incoming tenant. Once the prospective tenant is approved, the tenant and landlord will do a move-in inspection together. The inspection helps document any minor damage to the property before the tenant moves in to avoid any disputes if the landlord needs to deduct funds from the security deposit.When the tenant is ready to move out, the landlord and tenant will conduct a final move-out inspection. If there are no damages beyond normal wear, and there is no unpaid rent remaining, the tenant should receive their full security deposit. The security deposit is a legal contract binding the landlord to refund the tenant. In some cases, the landlord may deduct funds for cleaning or patching nail holes or property removal if the tenant leaves personal belongings behind. The initial security deposit and pet deposit are to ensure there are funds to cover property damage caused by the tenant or tenant's pet. In the spirit of clear communication, the landlord should provide an itemized list of charges deducted from the tenant's deposit or pet deposit if there are any deductions for damage or necessary maintenance.Raising rent in TexasEnsuring every document is painstakingly in order will help streamline the rental process. When the lease is renewed in the residential contract, there is no rent increase limit according to Texas state law.There is no rent control law in Texas. Landlords do not have stipulations on giving proper notice for rent increases once the lease is ready to be renewed. However, to remain on good terms with the tenant and as a courtesy, the landlord should give a 30-day notice in writing whether the lease is fixed or is a month-to-month lease. Being transparent and communicating clearly will help influence your trust with tenants and build a good landlord-tenant relationship.Texas rental agreements and documents every landlord needsIf you have good tenants who pay rent on time, take care of the property, and are considerate to their neighbors, one of your goals should be to retain these tenants. As we previously covered, Texas has no law on rent increases or official requirements for landlords to give notices. By issuing a written notice, you can spare yourself any disputes and avoid falling out of a quality tenant's good graces. A little consideration will go a long way.As a landlord, you're responsible for making sure the rental unit is in a habitable condition. When a tenant reports a leak or a faulty appliance, the landlord must arrange for repairs within a reasonable time frame.Whenever you must enter the premises of the rental, you are required to give your tenant 24-hour written notice that you or a service provider intends to visit the property. The eviction process in TexasAccording to the Texas Tribune, there were 37,000 evictions in Houston, Fort Worth, and Dallas collectively in the first quarter of 2022. Eviction is rare in some of the biggest cities in Texas and should be the last resort. The lease agreement is a legal contract, and if tenants are violating the lease terms or are not paying their rent, the landlord has the right to begin the eviction process if it comes to these last-resort circumstances.There is an eviction process in Texas that every landlord should abide by, which includes the following steps: The landlord must give at least a 3-day written notice to evacuate; sometimes, a 30-day notice may be mandatory. After the judgment has been issued, the landlord has to wait five days before taking any action.After the final judgment, the landlord can request a writ of possession to remove the tenant's property.In Texas, you are not allowed to retaliate against the tenant for something they did that you don't like if it does not violate the lease terms. What is considered retaliation? Suppose your tenant asks for excessive repairs. You cannot evict them, increase their rent, or deprive them of the usual services for making a repair request. The tenant is protected by the Texas Property Code 92.331 for six months after making a repair request.Ending a tenancy doesn't have to be tricky. If you have concrete grounds for eviction, you can start the proceedings.Lease termination, lease violations, and ending the lease earlyEverything should be in writing. When the time comes to renew the lease, email your tenant in advance to ask them if they plan on renewing their lease. Doing this will help you adequately prepare if the tenant opts out of renewing.If your tenant asks to end a lease early, you can ask them to stay and continue paying rent until you find a new tenant or charge them a penalty fee if you include an early termination clause in the lease terms. If the tenants are victims of family violence, they qualify for early lease termination. In Texas, military deployment allows service members to give a notice of termination to the landlord and break the lease early.FAQ: Essential Texas rental documents What are landlords required to provide in Texas? Landlords in Texas must ensure that the rental is habitable and that all damages are repaired before the tenant moves into the property. When screening the tenant, the landlord must provide a rental application and consent form before obtaining credit reports from the tenant.  The property manager must outline information regarding payments of rent, late fees, and the penalties for not paying rent in the lease terms. What are the Texas rental agreements and documents every landlord needs? The following Texas rental agreements and documents every landlord needs at the ready for screening, approving, and managing all operations of the rental process include:Rental applicationLease agreementMove-in inspection formHolding deposit agreementNotice of intent to enterThe residential lease agreement should include the rental term or lease term, monthly rent payment, due date, the grace period for unpaid rent, the landlord and tenant maintenance responsibilities, and lease agreement disclosures, including lead-based paint hazards that may pose health risks.The move-in inspection will help the property owner determine who is responsible for liability of damages at the end of a lease period.A holding deposit agreement benefits landlords and tenants in a competitive rental market. The tenant secures the rental with a holding deposit.The notice to enter is intended to give tenants reasonable notice that the landlord or a repair person will enter the rental premises. The only exception for a landlord entering a rental property without notice is when a natural disaster has created dangerous conditions for the renter and the home, or if there is an emergency. How much notice should a landlord give a tenant to move out in Texas? A landlord must give the tenant at least a three-day notice to vacate. The tenant can remain in the rental until the landlord has issued a writ of possession.If the lease period is nearing, and the landlord wants to end the tenancy, they should give the tenant advance notice. Our final thoughtsWhen it comes to vetting potential tenants, remove the guesswork by enlisting a tenant screening service like SingleKey. SingleKey provides a fool-proof, accurate Tenant Report that will help filter through tenants with a record of late payments and poor financial history to help you find ideal renters.This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### Comparing U.S. Rent Guarantee Programs for Landlords [Comparing U.S. Rent Guarantee Programs for Landlords](https://www.singlekey.com/en-us/rent-guarantee/comparing-u-s-rent-guarantee-programs-for-landlords/) Meta: Compare the various rent guarantee offerings in the U.S. and learn which rent guarantee programs provide the optimum coverage and assistance to landlords. Date: October 4, 2023 Author: SingleKey Content: All landlords have to consider the prospect of late or missed rental payments. It comes with the territory of managing properties. As a safeguard, property owners are now enlisting the services of rent guarantee programs to secure their rental income.A backup plan that covers lost rent, property damage, and lease agreement breaks will lighten the load and protect the homeowner's investment property earnings. Comparison of the rent guarantee programs Name of 
providerType of 
coverageTenant screening tools available?SingleKeyRent guarantee with legal support through eviction proceedingsProven risk management service backed by insurance underwritingComprehensive, accurate tenant screening reports are providedNomadProperty management servicesRent guarantee providerScreening and placementLeapDeposit replacementSome rent guarantee optionsNon-refundable application approval process for tenantsThe GuarantorsOffers a rent guarantee program for low- to high-risk rentersNon-refundable application approval process for tenants with limited financial resourcesSoft credit checkRent RescueLimited rent reimbursementSome eviction cost coverageApplication approval process for property managersSureVestorRent guarantee coverage and some eviction coverageApplication approval process for landlordsLeaseLockReplaces security deposit with small paymentsNon-refundable application process for tenants with insufficient creditInsurentLease guarantee program, specializing in placing tenantsTenant screening reports providedSteadyRent guarantee coverageReviews tenant’s historical on-time payments, late payments, NSFsRhino InsuranceSecurity deposit and guarantor coverageSoft credit check How do rent guarantee policies help landlords?Whether you're a landlord managing a rental unit during an economic decline or have a tenant going through financial hardships, SingleKey has a solution to ease your concerns.Our program reduces the risk associated with renting by offering the following benefits:Unpaid rent reimbursementProperty damage protectionFinancial protection when tenants break their leaseLegal support and limited legal fee coverage through the eviction processTenant troubles can be costly and time consuming. When a tenant stops paying their monthly rent, many times, the only recourse for a landlord is eviction. Evicting a tenant from a rental property takes, on average, four to eight months, depending on the U.S. state where the residential property is located.SingleKey's Rent Guarantee supports property owners by covering up to $2,000 in paralegal fees and eviction costs.What key features should property managers have access to?If you're looking for the essential features of a rent guarantee program, these characteristics will be the most effective:Comprehensive coverageYour concerns with comprehensive coverage, including lease breaks, unpaid rent, and legal support through eviction, are alleviated with SingleKey.Many rent guarantee providers don’t offer lease break coverage. SingleKey provides 30 days of rent paid if your tenant leaves without notice. Also, landlords will receive up to 12 months of rent (up to $60,000) in case of delinquency.Legal help and eviction protection and resolutionWhen eviction is the last resort, SingleKey will manage the entire process and cover up to $2,000 in legal fees.Support the tenant screening processTenant screening is essential for filtering through risky prospective tenants and finding your top candidates. You can access credit checks, proof of income, previous landlord references, and a public records scan with an accurate tenant screening report.A closer look at the cost of rent guaranteeMany companies intentionally leave out the cost of rent guarantee on their website or cover the minimal amount for late rent payments. Some guarantors advance annual rent for risky tenants at a higher fee.When shopping for rent guarantee coverage, look at how transparent the company is with services and expenses. Ensure they have a no-hidden-fee policy and provide top-of-the-line tenant screening to guarantee on-time, steady rent. Always compare the cost of rent guarantee services for peace of mind that your rental is protected.Here's a closer look at what services some of the rent guarantee providers in the U.S. offer and what fees are associated with each company.SingleKeyTenant Report: By conducting a thorough and accurate background check with SingleKey's Tenant Report, you can identify quality applicants who are most likely to pay on time and protect your rental property. Rent Guarantee: SingleKey specializes in Rent Guarantee. For only 5% of your monthly rental income, we cover 12 months of rent (up to $60,000), and guarantee up to 30 days of rent paid if a tenant unexpectedly breaks their lease. SingleKey reimburses landlords up to $10,000 if their tenant causes malicious damages. All homeowners enrolled in the Rent Guarantee Program also get two free Tenant Reports.Eviction Resolution: You’ll get support throughout the eviction process and be covered up to $2,000 in paralegal and eviction fees. Knowing the cost of services can help you plan financially and make wise decisions. SingleKey has no hidden fees. Our services and fees are transparent as we aim to build trust with homeowners from the start. NomadNomad is a property management company that offers realtor services. Their property management offerings include screening and placement of tenants in rentals, guaranteed rent coverage for two years with existing tenants, and they claim to provide property protection for up to $500,000. Nomad automatically deducts 4% of the landlord’s monthly rental income. Here is what landlords can expect with Nomad’s rent guarantee program:Nomad advertises on their site that they charge a 4% monthly fee, automatically deducted from the rental payment. However, they obscure additional costs, such as a $1,000 onboarding fee.Nomad does not process their rent payments until the fifth of the month.Nomad shares the owner’s contact details with tenants.Nomad does not have a direct phone number to contact. Landlords must submit tickets. LeapLeap tailors their services to tenants that can benefit landlords. According to their website, they approve tenants to make monthly payments instead of one large deposit sum before moving into the rental property. Leap also offers some rent guarantee options. The tenant pays for Leap's cost, which aids the landlords. Since Leap does not disclose all fees on its website, landlords must contact Leap to begin the process. In contrast, SingleKey has full transparency on what you will pay. Here are some of the key points to note about Leap’s rent guarantee program: Leap caters to tenants who need assistance paying their security deposit.Not all of the fees for Leap’s rent guarantee are advertised.The GuarantorsThe Guarantors provide rent and deposit coverage to tenants with limited financial resources. They also support landlords through Rent Coverage. The tenants pay for the coverage on a per lease basis. The cost for Rent Coverage varies from 40% of one month's rent to just over one month's rent.The company offers three pricing groups, depending on the type of coverage and a renter's risk profile:Low coverage: $1,200 for 2 months of rent coverage, 1 month of deposit coverageMedium coverage: $1,625 for 6 months of rent coverage, 1 month of deposit coverageHigh coverage: $2,000 for 12 months of rent coverage, 1 month of deposit coverageThe gross rent determines the pricing. The pricing listed above is based on a monthly rent of $2,000.Rent RescueRent Rescue is a rent default insurance company. They will reimburse some unpaid rental income and cover some legal expenses for eviction.Rent Rescue charges $300 per unit for the following coverage:Up to six-month reimbursement of lost rentUp to three-month reimbursement due to court order, military deployment, or deathThe rent guarantee program includes:Only $1,000 of legal expenses to pursue evictionOnly six months of rent coverageServices not available in Kentucky or AlaskaSureVestor After filing a claim with SureVestor, property managers can receive up to $35,000 for malicious damages. The company also offers up to $5,600 in eviction expenses. According to SureVestor’s website, here’s what’s included in their rent guarantee program: Will only cover two months of rent; upfront fees may apply12 weeks of rent for tenant delinquency Landlords will receive eight weeks of rent coverage if tenants don't pay rentLeaseLockLeaseLock provides financial coverage to landlords and helps tenants with average to below-average credit get approved for rental properties. They act as a cosigner for renters with poor to average credit. The monthly fee varies and is paid by the resident along with their rent, which replaces their deposit. Their rent guarantee assistance may also cover the following:Placement of tenants into rental units with insufficient credit (upfront fees may apply)A monthly fee paid by the resident is included in the rent, replacing the depositInsurent Insurent’s lease guaranty program helps fill vacancies with tenants who would typically not qualify for a lease. Here are are some key points about their program:Guarantees the full rent obligation under lease, with exceptions.Late rent and legal fees are covered up to the security deposit amount.Only offers services in New York, New Jersey, Massachusetts, Illinois, Maryland, Virginia, Washington DC, Nevada, California, and Florida.Tenants who need a third-party guarantor on the lease use Insurent’s services.The Insurent guarantee program appeals to the following applicants: Those with insufficient income sourcesRenters who have an average or poor credit historySteadySteady Rent offers rent protection and rent advances to property owners. Property owners must partner with Steady to be eligible to use Steady's OBP™ (Owner Benefit Package). The OBP™ provides homeowners with up to 12 months of rent upfront and will pay the property management fees. If the property owner opts out of advance rent, they will receive two months of rental income protection.Steady’s package includes the following benefits: Up to two months of rental income protection Only $1,000 of legal expenses for evictionUp to two months of rental income protection without an advanceRhino InsuranceRhino Insurance offers coverage for renters who don’t meet a property owner’s specific move-in requirements.Instead of renters paying a security deposit, renters pay a non-refundable $5 to $10 monthly fee for an insurance policy covering any potential damage or lost rent. In addition to these offerings, Rhino outlines some of the following details in their rent guarantee offering: Rhino covers the amount on a policy. If the policy amount is $1,000, then Rhino will only cover $1,000. The coverage is not compatible with a high-cost apartment.FAQ: U.S. providers of rent guarantee What is a rent guarantee service? Most rent guarantee services cover loss of rent or rent delinquency. Some rent guarantee programs cover eviction costs and property damage deemed malicious, such as vandalism.With SingleKey, we provide tenant screening services to help you find quality applicants before they sign the lease agreement. Landlords must include a consent form in the rental application. From there, most reports are produced within minutes. A thorough vetting will ensure landlords that the prospective renter will be prompt with their payment of rent every month. In addition to obtaining a background scan and credit score, landlords can feel at ease with SingleKey’s rental income coverage if a tenant is delinquent or breaks the lease terms without giving proper notice. In the event of an eviction, SingleKey assists landlords with risk management and underwriting. Who can qualify for a rent guarantee? Depending on the company, qualifications may vary. Some property managers determine eligibility, and some rent guarantee programs that work directly with the tenants will set the standards. Usually, a tenant must pass a background check and have sufficient credit. How much can a rent guarantee program cover? Some rent guarantee programs cover as little as two months of rent, while others will cover the entire lease term. The fees will change depending on the guarantor the property owner chooses to partner with. Look for hidden fees and ask the company for all service fees in a rent guarantee program.  Our final thoughtsSingleKey offers the most comprehensive tenant screening methods, ensuring you place top-of-the-line tenants in your rental property. You can expect to see credit reports, eviction history, annual income verification, and social media scans.SingleKey works directly with property managers, providing full-service offerings to streamline their process, which includes: Screening tenants with Tenant ReportsGuaranteeing up to 12 months of rental income Mitigating financial riskFacilitating the legal process of eviction from start to finishCovering some eviction feesGiving financial support when a tenant damages the rental propertyLearn more about protecting your rental income with SingleKey’s Rent Guarantee Program. --- ### Nevada Rental Agreements and Documents Every Landlord Needs [Nevada Rental Agreements and Documents Every Landlord Needs](https://www.singlekey.com/en-us/near-me/nevada/nevada-rental-agreements-and-documents-every-landlord-needs/) Meta: Every new landlord must have a well-defined strategy for managing a rental property, including having access to the proper and essential rental documents. Date: October 3, 2023 Author: SingleKey Content: Most landlords tackle many aspects of the rental process themselves, from advertising the property to responding to maintenance calls. Whether you're managing one or multiple rentals, being organized is essential to finding success and working smarter to minimize the effort you put in.Discover all of the Nevada rental documents you'll need, including rental applications, residential lease agreements, and other legal documents for ending a tenancy.What is a rental application?A rental application allows you to collect all the pertinent information needed to get to know your prospective renter. Find out if the applicant has pets, if they smoke, or if they have ever filed for bankruptcy. Typically, an application will include a consent form stating that the applicant approves a background check and a credit check. Before approving prospective tenants, you'll want to conclude that they are dependable financially and will take care of your property by running a formal tenant screening report.Download a fillable residential rental application here.Screening your prospective renter Tenant screening will help you reduce the number of applicants to the most promising ones. With SingleKey’s credit check and background scan, a property manager can access relevant, in-depth information on a potential tenant. Here is a glimpse of what you will see with a SingleKey Tenant Report.A thorough SingleKey Tenant Report provides you with income and employment verification, as well as a scan of public records to reveal any history of disruptive behavior. All applicants will need to provide personal documentation to confirm their identity, verify their income, and provide employment references, including: Nevada Driver's License Social Security Card (optional) Pay Stub Letter from Employer Previous Next What is a lease agreement?After you have chosen your renter, they will review and sign the lease agreement or rental contract that spells out all of the responsibilities of landlords and tenants including property maintenance duties, lease terms, late fees, and repercussions for unpaid rent. Download a Nevada residential lease agreement here.Why use a holding deposit agreement for a rental unit?When the housing and rental market is competitive, landlords can accept holding deposit agreements applicable in all U.S. states. This assures you that the potential tenant will move into the rental property once it is available. Holding deposits are non-refundable, unlike security deposits, where tenants are refunded if there is no damage to the property beyond normal wear or if they are up-to-date with all their rent payments. Landlords may also deduct funds for cleaning within reason. Download a holding deposit agreement here.Using a move-in checklist and move-out inspectionBy conducting a move-in inspection for periodic tenancies (month-to-month) or fixed-term leases, you pinpoint any pre-existing damage to the property with your tenant. When performing a move-out inspection, your initial documentation will help eliminate any questions on whether damages to the property existed before the tenant moved into the rental. A move-in checklist will be especially helpful when the current renter has resided at the property for years, and you can’t recall the property's state before the tenant occupied the rental.Download a move-in and move-out inspection form here.Nevada rental agreements and documents every landlord needs According to the IRS, managing a rental property is considered a passive activity even if you are actively involved in the operation. In reality, managing properties rarely feels like you are earning a passive income. To help you navigate unfortunate situations or legal protocols, keep a checklist of Nevada rental agreements and documents every landlord needs. Notice of rent increase While many cities in Nevada have no rent control policies, enacting local laws to cap rent costs has recently been discussed in the news. Always stay informed on any new developments in rent increase laws. Landlords in Nevada don’t have to limit how much they increase the rent after the lease expires, but they are required to serve the tenant with a 60-day written notice for fixed-term leases and a 30-day notice for a periodic tenancy, according to the NRS, 118A.300 law. Notice of entry While your rental is occupied by a tenant, you should respect their privacy and space by not showing up unexpectedly unless it’s an emergency. In Nevada, landlords must give their renters a 24-hour notice in some form of writing. Notice to end tenancy When a tenant stops paying rent or breaks the lease agreement terms with no resolution in sight, the landlord can proceed with the eviction process.There are different types of eviction notices in Nevada. For non-payment of rent, landlords must get a constable, sheriff, or licensed server to serve a seven-day notice to pay rent or quit. For lease violations, landlords must give a five-day notice for the tenant to leave or resolve the problems.For no-cause notices, Nevada law requires all landlords to give tenants a 30-day notice to vacate the property if their fixed-term lease has expired or a seven-day notice if they pay rent weekly.Download a no-cause notice to end tenancy form here. The bottom line is to ensure you are familiar with Nevada’s landlord-tenant laws and each notice of termination for a rental agreement. Specify your expectations and the tenant's responsibilities in the residential lease agreement. Having all of your terms in writing, including the rental payment fee, due date, and late fees, will protect you.FAQ: Essential rental documents for landlords What is required in a lease agreement? The lease agreement should include:The rental unit or rental property addressThe name of the tenantsThe agreed-upon termsThe lease term datesDisclosure about the history of the rental or presence of lead-based paintThe lease agreement should also state the due date of rent, including the amount for late fees, and list the grace period for late rent. Additionally, a section should define the tenant and landlord maintenance responsibilities. What can landlords not do in Nevada? The landlord cannot harass the tenant by excessively showing up at the rental property unannounced or creating living conditions that force the renter to want to break the lease.Creating a healthy and trustworthy landlord-tenant relationship will benefit both parties. Giving your tenant notice that you have to enter the premises for inspections and allowing your tenant a grace period to pay rent will help build a trusting and respectful relationship. What are the most essential forms a landlord needs in Nevada? Here are the most essential forms every landlord in Nevada needs:Residential Rental ApplicationResidential Lease AgreementMove-in/Move-out Inspection ReportNotice of Intent to EnterNotice of Rent IncreaseNotice to End TenancyHolding Deposit Agreement Our final thoughtsIf you’re learning to become a property manager, start creating a checklist for finding prospective tenants that includes tenant screening reports, as well as a digital or hard copy folder of all the essential landlord documents needed to manage a tenancy.This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### Arizona Rental Agreements and Standard Documents Every Landlord Needs [Arizona Rental Agreements and Standard Documents Every Landlord Needs](https://www.singlekey.com/en-us/near-me/arizona/arizona-rental-agreements-and-standard-documents-every-landlord-needs/) Meta: When landlords know landlord-tenant laws and have a list of essential documents to manage a rental, they can operate their rental property more efficiently. Date: September 21, 2023 Author: SingleKey Content: Property managers wear many hats when it comes to running a rental operation. While your main goal is to fill a vacancy quickly with a responsible tenant, keeping an updated maintenance calendar and all the essential rental documents needed is an integral part of the role.Many issues can arise throughout a tenancy, and in this guide, we'll review all the documents every landlord needs to optimize the rental process.Overview of Arizona's rental property guidelinesArizona has two Residential Landlord and Tenant Acts: one that governs rental housing and one for mobile home properties. A landlord must educate themselves on the lease laws and provisions listed in the Arizona Residential Landlord and Tenant Act (ARLTA). While no official agency enforces these landlord-tenant laws in Arizona, landlords can still be held accountable in a court of law. Taking precautionary steps to minimize liability will help you avoid disputes and effectively manage your real estate. If you need to enter the property for maintenance or repairs, schedule inspections with your tenant and document each time you have visited the rental. In Arizona, you must give a two-day written notice of intent to enter the premises.Having documentation of when you last visited the property and scheduling necessary preventative maintenance on the home will show the tenant that you are performing your landlord duties.Arizona rental agreements and standard documents every landlord needsThe transition from ending a tenancy to filling the tenancy with a new tenant doesn't have to be taxing. There are a lot of things to consider and act on. For instance, the landlord must inspect the property for damages, schedule repairs and updates, reimburse the previous tenant’s security deposit, and vet and find a new tenant to fill the vacancy. Once those goals have been met, there's the task of formulating a maintenance calendar, responding to tenant's requests, and collecting rent. Every landlord's dream tenant pays rent on time and cares for the property.Sometimes, despite your best efforts, you may face the burden of filling a vacancy before the lease is up for various reasons. Organizing and preparing for any event will help streamline the rental process. Here is a list of documents from the application process to the end-of-lease inspection:Residential Rental ApplicationResidential Tenancy/Lease AgreementMove-in/Move-out Inspection Report Notice to End TenancyHolding Deposit AgreementThe importance of screening potential tenantsBy evaluating prospective tenants, you're more likely to find someone who will pay rent on time and take good care of your property.The two biggest concerns for homeowners are that they will lose their rental income when their tenant stops making their monthly rent or their property will be damaged. It's up to the property manager to check if the potential tenant has a history of fraud or assault. One way to confirm is by running a credit and background check on the applicant.During the tenant screening process, each property manager must understand the landlord-tenant laws in the Fair Housing Act. Landlords cannot discriminate against a person for race, nationality, marital status, religion, sex, or disability.The rental application processBeing thorough initially will make the long-term rental process easier to manage. Include a consent form for running a background check and credit report along with the rental application form. It's customary for property managers to contact the previous landlords for references. The most valuable input will come from previous landlords with first-hand experience with your applicant.Some U.S. states may limit high application fees. Arizona has no limits on what a landlord can ask for an application fee. Whether or not the applicant gets approved for the rental unit, the rental application has non-refundable fees on a month-to-month or fixed-term lease.Here are items you can ask for during the application process: Arizona Driver's License Social Security Card (optional) Credit Report Pay Stub Letter from Employer Previous Next Residential lease agreement, legal notices, and deductionsThe rental agreement is a written document outlining all the established terms between the landlord and a tenant. When a prospective tenant gets approved for a rental unit or home, the landlord is in charge of drafting the written agreement and disclosing any history about the rental regarding lead-based paint. Once the lease is signed, the landlord can collect a security deposit from the tenant. At the end of the lease term, the landlord inspects the property with the tenant, doing a final walk-through to ensure the tenant hasn’t caused any property damage.Property managers can refer to the initial move-in inspection that the tenant and landlord assessed together. If everything checks out, you have 14 days to respond to the tenant and refund their security deposit. You must provide a written itemized list of deductions. Ending a residential landlord and tenant leaseIdeally, a tenancy won’t have any obstacles, but you should prepare for all unexpected events. For instance, when the economy affects the real estate market, and it becomes a seller's market, you may need to notify the tenant that you wish to sell. If the tenant has a month-to-month lease, provide a 30-day notice. If they have a week-to-week lease, provide a 10-day notice. When the tenant has unpaid rent or is delinquent, the landlord can consider ending the lease depending on the terms stated in the rental contract. Evictions can be more complex and time consuming. SingleKey offers legal support and eviction resolution. When eviction is the last resort, our paralegal team handles the entire eviction process. FAQ: Rental agreements and standard documents every landlord needs What are a landlord’s responsibilities in Arizona? A landlord must make necessary repairs and ensure the cooling/heating system operates efficiently at all the rental units and residential properties. The landlord is not responsible for the tenant’s personal property. What is the Arizona Residential Landlord and Tenant Act ARS 33 1317? The ARLTA states that discrimination by a housing provider, including a property owner or landlord, against a tenant with children is prohibited. What should property managers in Arizona be aware of during the tenant screening process? You can’t discriminate against a rental applicant because of race, nationality, marital status, sexual orientation, or religious or political beliefs. Our final thoughtsStaying on top of all the required documents for your rental is just one way you can make your role as a property manager easier. Arm yourself with the necessary information to choose the right resident for your property by verifying rental applicants through services like SingleKey’s tenant screening.This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### Important New York State Rental Documents for Landlords [Important New York State Rental Documents for Landlords](https://www.singlekey.com/en-us/near-me/new-york/important-new-york-state-rental-documents-for-landlords/) Meta: Landlords in New York State should keep rental documents like a New York residential lease agreement organized for an efficient rental process. Date: August 14, 2023 Author: SingleKey Content: Property management is no easy feat. From attracting quality tenants to understanding fair housing and local laws, New York landlords must plan for the highs and lows of residential property management. For first-time landlords, we'll break down the essential rental documents you'll need, from the rental application form to a New York residential lease agreement. The primary purpose of these documents is to eliminate legal issues and screen applicants properly. Follow these guidelines to make the property management process efficient through each phase of the tenancy. Overview of New York's rental property guidelines As a property manager, your goals are to maintain a good relationship with the property owner and keep quality tenants satisfied while navigating the ins and outs of property management. Understanding the nuances between rent-stabilized and rent-control tenancies in apartments, sublets, lofts, and hotels is key. Being thorough, organized, and knowing the rules distinct to New York will foster a smooth-operating process and help landlords find ideal tenants who pay their monthly rent on time and are good neighbors. Here are some important key points: Renter protection: The Housing Stability and Tenant Protection Act (HSTPA) of 2019 provides renter protection across the state. Rent increase limits: The HSTPA 2019 affects how much a landlord can increase the rent on rent-stabilized units. Rent stabilization: Beyond New York City, rent-stabilized apartments are buildings with six or more apartments built before January 1, 1974. Annual rent increases: Select New York State counties set maximum rent increase rates annually, effective October 1 each year. Grace period: New York State rent payments have a grace period of five days, meaning rent is only considered late if received more than five days after the due date. Liability: Landlords are not exempt from liability if injuries occur on a rental property due to a landlord's negligence. Infestations: Before the tenant moves in, you're responsible for removing infestations, including bed bugs. All landlords are obligated to notify the prospective tenants of bed bug infestation history.  What do landlords need during the rental application process? All prospective tenants must complete a rental application form. A landlord must also get consent from applicants before running credit reports or background checks. Residential rental application The rental application form is necessary for approving applicants and typically includes an authorization for consent.  A landlord will require consent from the tenant when requesting additional information regarding employment history, income, assets, and other pertinent information, including: Current and previous employer’s contact information Employment verification letter Past pay stubs Credit check You can also ask the applicant to list previous landlord contact information on the rental application form. These are valuable references because a previous landlord can alert you to any unpaid rent issues or confirm the applicant was a good tenant. Other personal details a landlord can request: Full name, including previous names used in the last 10 years Date of birth Social security card (optional) Driver’s license or a government-issued identification Contact information, including a phone number, current address, or email address Information for other potential tenants over the age of 18 Application fees Landlords can charge an application fee, but it legally can’t exceed $20, according to the Tenant Protection Act of 2019. Holding deposit agreement The purpose of a holding deposit is so that the tenant can reserve a rental unit. The sum given to the landlord for the holding deposit should not exceed one month’s rent.  Lease agreement, addendums, and inspections Each property type requires both a signed rental contract that details the lease terms and a signed inspection form documenting the state of the rental in case property damage repairs are needed later. Have these essential documents in order before you approve an applicant. New York residential lease agreement Lease or rental agreements will define the agreed-upon terms between the landlord and tenant. Without a signed lease, there is no binding contract. A New York residential lease agreement is needed to protect the property manager from a negligent tenant. A rental lease agreement should have language that specifies the amount needed for the security deposits, rent prices, pet deposit if applicable, lease term (start and end date), and the occupants’ names. Some landlords may even include a clause for the tenant to give notice before they prematurely vacate the rental. If you’re renting an apartment with utilities included, the lease terms should also define these details. The rental agreement can help landlords mitigate future disputes that should arise, such as a tenant breaking a lease or being delinquent on rent. Addendums Addendums are typically added mid-lease and can contain additional disclosures not included in the lease form, such as parking spaces, new pet deposits, or any details related to the entire space of the rental property. Inspection forms Landlords are legally required to refund a security deposit when the lease ends and the tenant opts out of renewing it. In New York State, you must return the deposit within 14 days of the tenant moving out. For this reason, having documented inventory of any property damage will help landlords assess whether the tenant owes them money for damage not listed in the inspection form. Before the move-out date, tenants and landlords will inspect the residential property together. This way, the landlord can allow the tenant to make repairs so that they receive their full security deposit. If a landlord deducts money from the security fund, they must provide the tenant with an itemized receipt detailing the damage and cost. The maximum security deposit limit for rent-regulated apartments can be no more than one month’s rent. Inspection forms can be used before the move-in date and the move-out date. You can also use the move-in inspection to point out where the fire extinguisher and carbon monoxide detector are and any property damage from previous tenancies. Download a template of a move-in/move-out inspection form. Notice of rent increase There’s no limit to how much a landlord can raise rent for unregulated rentals on current tenants. If you decide to raise the rent on a tenant, give them advance written notice before increasing the rent. Property managers can include the information on the rent increase form coupled with the renewal lease.  Regulated rental contracts, such as rent-stabilized units, operate under the New York City Rent Guidelines Board. Rent-controlled units operate under New York State policies. The exception to the rent increase rule for rent-controlled units is that there needs to be enough rental income to cover maintenance and property improvements. Landlords can increase the rent within reason to cover those costs by applying to the Maximum Base Rent (MBR) program. Notice to visit the property or enter premises Give advance notice using this form when visiting the rental unit or property. If the tenant reports an issue that needs to be addressed, alert the tenant in advance of the date and time the repairs will be made. Tips for first-time landlords and property managers Familiarize yourself with New York's state and local laws. Many landlord-tenant laws protect tenants from discrimination, guaranteeing everyone has equal housing opportunities. Guided by these laws, property managers can avoid legal action. Stay organized. Having documents ready for any circumstance will streamline the procedures. When you need to fill a vacancy, start learning the details about the rental. For instance, what's included in the rent? Virtually all New York City apartments supply heat and water for free, so there are no utility payments from the tenant for these services. Some NYC listings even specify that electricity is included with rent. Once you have posted your rental listing, begin screening potential renters who submit their applications for the rental unit. Landlords can learn how reliable a prospective renter will be by conducting an in-depth screening of their credit reports, income source verification, and other pertinent information. The tenant screening and rental application process Every landlord has different criteria for their tenant based on the property they’re renting out. The 40 times rent rule is commonly practiced by some landlords. If an applicant's annual income is 40 times the monthly rent, it assures landlords they can afford it. The one common denominator for each property management company is finding someone who can reliably make their monthly rent payments.  With SingleKey, you can identify the top candidates through a comprehensive tenant screening process that includes: Equifax credit check Background check Social media scan Court record search Rental history Income and employment verification A credit and background check will reveal bad credit or healthy credit history. It will also disclose any criminal history. Property managers will not have access to tax returns. The IRS does not report tax debt to consumer credit bureaus, according to the Taxpayer Bill of Rights. Questions landlords can ask during the screening process Advertising your rental and speaking with people over the phone or in person comes with the territory of being a landlord. Being cordial and personable can help the applicant feel at ease while answering questions. When you ask an applicant valid questions, you're evaluating if they will be a right fit. Here are some helpful questions you can ask during pre-screening: Do you have pets? Do you own a vehicle? What is your monthly income? Have you declared bankruptcy in the past? Do you smoke? Asking open-ended questions is also an effective way to learn more about a person. Keep in mind though that due to the federal Fair Housing Act, housing providers may not discriminate against applicants. Asking questions about a prospective tenant’s race, marital status, nationality, religion, or sex should be avoided. End of tenancy For those renting to tenants with a month-to-month lease, use a notice to terminate the tenancy form to end the tenancy. New York State is known for having many tenant protections on housing. Here are some examples of when a landlord can opt to evict after giving proper notice:  When a tenant owes rent money When a tenant is delinquent When a tenant or guest deliberately destroys property When a tenant is a nuisance  The property owner will need to undergo a court proceeding and obtain a judgment of possession from the court. The landlord usually will not deliver or send an eviction notice. A sheriff or marshal will carry out a court-ordered eviction.  FAQ: Important documents every landlord in New York State should know What should a landlord do before they approve a prospective tenant? A professional tenant screening report will help landlords gain valuable information about their tenants, such as if they have a criminal history and or if they have bad credit. Screening tenants before drafting apartment leases is essential to ensure you rent to responsible people. In addition to tenant screening, get organized and gather all the pertinent rental documents you’ll need, from rental applications to the end-of-tenancy and inspection forms. Landlords should also enroll in a landlord insurance policy to protect their property and themselves in case of an injury. Some landlords request applicants who earn an income through freelancing to submit a CPA letter. An accountant will assess a prospective tenant’s income sources, and a landlord will decide whether they will rent to the applicant. What are New York landlords required to provide tenants with regarding utilities? A New York City landlord is required to provide heat and hot water. However, air conditioning is not mandated. Many NYC apartments do not have air conditioners. The lease terms should outline what the tenant owes the landlord, including rent and a security deposit. The terms should also specify which utilities the landlord or the commercial property building covers. What information do New York landlords have to provide prospective tenants? Landlords in New York are required to disclose details regarding pre-existing damages to the property or anything relevant to the rental history. For instance, the landlord must notify the prospective tenant if the rental has a bed bug infestation history. This information can also be stated in the apartment lease. Landlords should always give prospective tenants advance notice of move-in inspections to be conducted before the tenant occupies the unit. Our final thoughts When it comes to being a landlord, you want to attract renters who will respect your property and pay rent on time. Despite your best efforts, you may still find yourself in a situation where a tenant is continuously late on rent or has violated their lease terms. Learn more about the risks of renting and key strategies to reduce those risks. This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### California Rental Agreements and Documents a Landlord Needs [California Rental Agreements and Documents a Landlord Needs](https://www.singlekey.com/en-us/near-me/california/california-rental-agreements-and-documents-a-landlord-needs/) Meta: From California rental agreements to inspection reports, this guide helps property managers and landlords in California organize what forms to have on hand. Date: July 25, 2023 Author: SingleKey Content: Are you a new landlord still learning how to rent your property in California? If you want to land a great tenant and stay on the right side of the law, this guide will help you through the entire process, from vetting potential renters to approving the tenant and ending tenancies.Understanding California's rental guidelinesRegardless of whether you're renting a single property, multiple units, or even a multi-family housing unit, understanding the state-specific guidelines and both required and recommended paperwork will make the process easier. Plus, being more organized will allow you to focus on other important parts of the management process, including the following:Minimizing your vacancy ratesManaging maintenance requirements and costsCreating a more appealing home for rentersGenerating extra income in other waysKeep reading to learn more about everything you need to consider to become a more successful landlord in California. Residential rental applicationThis is where the tenant selection process starts. As a landlord, this application form allows you to confirm a potential tenant’s identity, check their rental history, and get the information necessary for credit checks. You can download a template of a residential rental application form here.Rental application form feesCalifornia has a maximum rental application fee based on the consumer price index. This fee also can’t exceed your actual out-of-pocket costs. The maximum rental application fee varies yearly. If no rental units are available when the prospective tenant applies, you can’t charge this fee until one is available.Managing the rental application processThe rental application process is important for both tenants and landlords. For landlords, it helps answer several important questions about the person or people renting their property: Is an applicant reliable? Do they have the income necessary to afford a specific property? Do they have a positive history with other creditors?This is why California law allows you to ask for several pieces of information from applicants during the screening process: What a landlord can request Full name, as well as any other aliases or other names used in the last 10 yearsDate of birth in some situationsSocial Security Card (optional), as long as you believe you can keep this information privateDriver’s license or state ID number and expiration dateContact information, such as a phone number or email addressInformation for other potential tenants over the age of 18There is also information you can legally request with the consent of the tenant, including the following:Current and prior residence information, including the contact information for previous landlordsEmployment history, including company names, manager names, phone numbers, and email addresses from previous employers Letter from employerProof of incomeCredit historyEviction background checkAlthough references are commonly requested, you must explicitly receive signature confirmation that authorizes you to contact an applicant’s past landlords and employers. You will also need explicit confirmation that allows you to conduct background and credit checks. Prescreening and application questions landlords can ask Here are some helpful and valid questions landlords can ask during the application process:Do you have pets?Do you own a vehicle?What is your monthly income?Have you declared bankruptcy in the past?Do you smoke?It’s typical to ask questions during the pre-screening process in addition to questions on the rental application. Check out these suggested questions for landlords to screen potential tenants so you can learn as much as possible about your prospective tenants. Lease agreement, addendums, and inspectionsOnce you’ve approved a rental application, you’ll need a rental agreement, as well as several other documents during the tenancy: Residential tenancy/lease agreement The lease agreement outlines the expectations for both the tenant and the landlord. This agreement is binding and legal and must be in writing. Written agreements ensure that both parties understand the terms. The landlord and tenant can also refer to the written agreement if a dispute emerges rather than making verbal agreements, which either side can break. A lease agreement can also protect landlords from legal ramifications associated with discrimination.A lease agreement is the most important document because it covers all the agreed-upon terms, including the cost of rent and the due date, security deposit fees, and other regulations. Suppose a tenant or a landlord acts against the terms stated in the lease. In that case, there can be legal ramifications. Move-in/move-out inspection report  The move-in report identifies any existing damage to a rental unit, so these damages can’t be removed from the security deposit when a tenant moves out. Many landlords will provide this at the beginning of the rental agreement to document any pre-existing damages to the property. According to California civil code, a tenant can also ask the landlord to inspect the rental unit before the tenancy ends, identifying any issues that would justify a deduction from the security deposit. Holding deposit agreement for prospective renters A landlord might request a holding deposit to reserve the unit. Once the landlord receives the holding deposit, they will remove the rental unit from the market. The rental unit is reserved until the tenant pays the security deposit, and sometimes, the first month’s rent, based on the agreed-upon amount. Depending on the provisions established, if a tenant does not move in, the landlord can keep the holding deposit fee (unlike a security deposit).  Waiver to receive receipts A tenant can waive the right to receive copies of invoices, receipts, and a landlord’s itemized statement listing all deductions from the tenant’s security deposit. The security deposit is an agreed-upon amount the landlord holds if the tenants cause any damages. The waiver must contain text from the security deposit statute. In addition to the itemized statement, the property manager must include all copies detailing charges collected and deducted from the security deposit. Tenants will waive the right to receive copies of invoices when they disagree or question the amounts deducted from their security deposit. Pet agreement and statement of security deposit A pet addendum includes any restrictions you might put on a tenant who will own a pet in your rental unit. This may include restrictions on breeds and weight and specified pet fees. A pet security deposit fee can be listed in the addendum. In California, a service or support animal must be allowed with no additional fees, even in rental units that do not allow pets. Notice of intent to enter from residential landlords If you need to enter the rental location for repairs, services, or to show prospective tenants the property, you must supply tenants with a Notice of Intent to Enter. Under California law, you must give notice in writing, and it must be at least 24 hours in advance if it is delivered personally or six days in advance if it is mailed. A few exceptions exist for genuine emergencies, abandonment, or court orders. Notice of rent increase If you have decided to increase the rent the tenant pays for a specific property, you must attach a Notice of Rent Increase to your rental agreement. Rent control is in place for some locations, and in some cases, there may be anti-price gouging laws that control rent increases. In 2019, California authorized the Tenant Protection Act (AB 1482), creating tenant protections. For most California residents, there are caps on rent increases. Landlords can increase the rent by 10% or 5%, plus the inflation rate, whichever is lower over a 12-month period. You must submit a 30-day written notice for a 10% or less rent increase.There are exceptions to the 10% rent increase cap. The tenant protections do not apply to: Apartments built in the past 15 years (tenants will gain protection once their building turns 15)Some single-family homes owned or controlled by a corporationMobile homesDuplexes where the owner is living in one of the unitsDormitoriesSome affordable housingIf you are increasing the rent by more than 10%, you must give at least 60 days’ notice. This is cumulative. So if you raise rent by 5% in March and 6% in June, you must give at least 60 days’ notice for the June increase. Many landlords work with attorneys or property managers to stay informed of new legal developments that might impact how much you can raise the rent or what you can do because of lease agreement violations. Rent increases and eviction reforms may change due to unique circumstances. For example, during the COVID-19 pandemic, there was a temporary suspension on evictions associated with unpaid rent to help alleviate economic instability.Landlords can break the lease with their tenants, but they still have legal obligations. If the tenant signs a lease agreement contract, they must pay their rent and follow other regulations detailed in their lease agreement.When tenants fail to pay rent and ignore rules in the lease agreement, a landlord should provide the appropriate notices to the tenant. Documents for ending a tenancySeveral different types of documents are available to a landlord to end a tenancy depending on the situation, including: 3-day Notice to Pay or Quit This is a notice you can serve a tenant when you believe the tenant is behind on their rent, letting them know they have three days to either pay the overdue rent or move out. It must include exactly how much rent is owed. Late fees or utilities can’t be included. 3-day Notice to Perform Covenants or Quit This is a notice you can serve a tenant if the tenant isn’t following a rental agreement, such as having an unauthorized pet or disturbing their neighbors, letting them know they have three days to fix the problem or move out. In some California cities, it is required that the landlord send a general letter about the problem before sending this notice. 3-day Notice to Quit You can serve a tenant this notice if you believe they’re responsible for a more serious concern, such as doing something illegal on the property, causing major damage, or subletting the home without your permission. 30-day or 60-day Notice to Quit This is the most common notice to end a tenancy and is used for month-to-month rentals. A 30-day notice can be used if the tenant has been renting for less than a year, while a 60-day notice must be used if the tenant has been renting for a year or more. Landlords will need “just cause” before submitting this notice. 90-day Notice to Quit This type of notice is only available for Section 8 subsidized housing. The landlord must have legal reasoning or “just cause” to ask the tenant to move, and the notice must also indicate that the tenant has 10 days to talk about the notice with their landlord. Condominium Conversion Notices Tenants should be alerted at least 90 days before the property sale is made public. If the tenant lawfully resides in the unit, the tenant must be given a right of first refusal to purchase the unit. Many cities and counties in California are subject to rent control. It’s common for there to be restrictions on when you may or may not end a tenancy. In most cases, a specific legal reasoning or "just cause" is required to terminate a tenancy under the Tenant Protection Act of 2019 (​​Bill 1482). Tenants are protected against eviction without justification. Additionally, under Bill 1482, landlords must cap the rent increase to 5% plus inflation. Both landlords and tenants are bound to the terms written in the tenancy agreement, including penalties for vacating before a fixed-term lease expires or how much notice a tenant and landlord must give to end a month-to-month lease. Understanding your legal obligations or having a property manager interpret tenancy laws when ending a tenancy is essential since restrictions apply to both tenants and landlords. In California, landlords need a valid reason to end a fixed or periodic tenancy. Here are some reasons why a landlord can legally evict a tenant:Non-payment of rentBreaking rental agreement termsDisorderly conduct, including excessive noise complaints and criminal behaviorSevere damage to the rentalIf the landlord needs to sell the home (restrictions apply)Successful landlords must have the tools to protect their property and ensure their tenants will be trustworthy. These documents are an important part of that process, but screening prospective tenants appropriately is the first step toward ensuring a strong relationship with your tenants.Important notes on rental documents in CaliforniaRental agreements and leases are complicated transactions with responsibilities and rights that protect the tenant and landlord. Landlords must understand the following terms and agreements to avoid legal trouble. Here are different types of rental agreements:The two types of rental agreementsThere are two common types of rental agreements: fixed-term tenancy and periodic tenancy. A fixed-term tenancy is the kind of agreement where both the tenant and the landlord agree to a specified rental period of longer than a single month. A 12-month period is most common for a fixed-term tenancy, but you can offer six-month rentals, 18-month rentals, and other options. In California, a fixed-term tenancy automatically becomes periodic once it ends unless both parties agree to another fixed-term tenancy.A periodic tenancy agreement is a month-to-month rental with no definitive end date. Certain types of rentals may even rent week-to-week. Those who rent month-to-month for over 12 months in California are often provided more protections.In California, regardless of whether the tenancy is fixed-term or periodic, you will usually need a specific legal reason to send a notice requesting that your renters move. It is illegal for you to request that your tenants move simply because you no longer want them on your property.Fixed-term lease addendumsLease addendums are modifications of the original lease. An addendum should be filed any time you change something originally agreed upon. For example, if a tenant originally rented without a pet, then added a pet to the lease agreement, that would be an addendum. This helps track what was originally agreed upon and what was added later.If you work with a property management company, real estate agent, or property attorney, they may handle the residential property documentation. Working with a third party can be a great investment, especially if you're managing multiple properties.Application questions landlords should not ask tenantsLandlords are legally prohibited from asking certain questions to reduce potential discrimination in the rental process. In California, you are not allowed to ask questions about or discriminate based on:Race or colorAncestry or national originReligionDisability, including mental or physicalSex, gender, gender identity, or gender expressionSexual orientationGenetic informationMarital or familial statusSource of incomeMilitary or veteran statusCitizenship or immigration statusPrimary languageAgeDomestic violenceCertain kinds of encounters with the legal systemThese elements are based on the Fair Housing Act, which is a federal act, the Unruh Civil Rights Act, which is a California-based act, and certain other civil acts in California. You should also avoid advertising to attract people to your property based on one or more of these factors.One of the unique anti-discrimination policies in California is related to criminal convictions. You are not allowed to deny housing to someone based on arrests that did not end in a conviction, infractions or petty charges, or convictions that are sealed, expunged, or dismissed. Landlords can consider denying a rental application due to "directly-related convictions" that threaten other residents, housing providers' employees, and property damage. In Oakland and Berkeley, landlords can’t conduct criminal background checks on prospective tenants.It's important to talk to a lawyer to ensure you're not asking any questions that could violate these guidelines, especially because they can be confusing and based on individual cities. These acts aim to ensure all individuals in the United States and in California have equal opportunities.Rental history and issues landlords must discloseWhen drafting a rental agreement, one of the landlord's duties is to ensure that the unit's history and issues potentially affecting the tenant are disclosed out of good faith and fairness.The move-in inspection is essential for documenting any property damages. The inspection also allows tenants to carefully look for potential health hazards, red flags, or signs of decay, like crumbling pipe wrap or paint flaking on the walls. Landlords must give written notice to tenants about all of the following issues associated with the rental property, as detailed in the California Tenants Guide to Residential Tenants’ and Landlords’ Rights and Responsibilities:Asbestos: This can be found in textured wall paint, pipe, or ceiling insulation in older homes or buildings. Asbestos can cause serious health problems when the asbestos particles become airborne. The landlord has to disclose the presence of asbestos.Other carcinogenic material or toxic chemicals: The Safe Drinking Water and Toxic Enforcement Act of 1986 (Proposition 65) requires any housing provider or employer to provide written warning of potential exposure to carcinogenic material or toxic chemicals and particles, including asbestos, benzene, and lead.Demolition: Landlords must notify prospective tenants of a demolition plan before starting the application process. A property manager must give a written demolition notice to a prospective tenant before taking any deposits or holding fees.The notice must indicate the estimated end-of-tenancy date due to demolition, even if that date is beyond the lease expiration date. Other warnings property managers are required to disclose to all tenants include the following:Military base or explosives: If there is a military base or a known military explosives storage depot within one mile of the rental propertyDeath in the rental unit: If someone died in the rental unit within the last three yearsFlood hazard: Landlords must disclose if the rental is located in a flood zoneLead-based paint disclosure: Landlords are required to disclose any lead-based paint or any other lead-based hazards that are present on the property Bed bugs: Landlords are required to disclose any bed bugsMegan's Law: This law requires landlords to include the following language in the rental agreement:"Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov. Depending on an offender's criminal history, this information will include either the offender's address or the community of residence and ZIP Code in which they reside." FAQ: Essential documents residential landlords need Should landlords conduct a move-in inspection? A move-in inspection is not required in California, but it’s always a good idea. We recommend that all landlords use a move-in inspection report like this one to conduct the inspection for their records.Additionally, California law does require that if the resident asks, you must provide a move-out inspection report before the actual move-out date, where you indicate problems that you would need to fix using the tenant’s security deposit. The tenant then has a chance to fix these problems independently before moving out. What can I do if a tenant is late on rent? We always recommend making payment arrangements first with your tenant. It can be expensive and difficult to find a new tenant for a property, and while you’re looking for someone new, you won’t be getting rent payments.The next step is to send a 3-Day Notice to Pay or Quit. This gives the tenant three days after receiving the notice to pay their overdue rent or move out. If the tenant chooses to move out, you are legally allowed to use the security deposit to cover unpaid rent, and you can also sue the tenant for additional amounts owed.If the tenant does not move out or pay, you can file an Unlawful Detainer lawsuit, colloquially called an eviction lawsuit. You are not allowed to lock out or physically remove the tenant or their belongings from the property. You must go through the courts to have someone removed from the property.There are many legal requirements regarding this kind of lawsuit, and if you don’t follow all of the requirements, the court can throw the lawsuit out. Always seek legal advice if you’re unsure of what to do next. An attorney will be more knowledgeable about your options in this situation. How often can a landlord raise the rent in California? According to the Tenant Protection Act, landlords have a cap on the percentage increase they can raise rent yearly. Most landlords can raise the rent by a maximum of 5% plus inflation per year, up to 10% yearly. However, you can choose to do this increase at any time. Most landlords choose to do it once when renewing a lease, but you could increase rent every six months or every three months as long as the yearly increase doesn’t exceed the maximum cap. Not all properties are covered under the Tenant Protection Act, so your requirements may differ.Individual cities, counties, and even neighborhoods may have their own rental control requirements. Always research to learn more about what rental restrictions apply every year.  How much notice do I need to give a tenant if I rent a property monthly? It depends on how long they’ve lived on the property in California. If they’ve lived there for at least 12 months, you must give at least 60 days’ notice. If they’ve lived there for less than 12 months, you must give at least 30 days’ notice. If you provide Section 8 housing, you may be required to provide 90 days’ notice.Additionally, because of the Tenant Protection Act of 2019, you may need to provide just cause for ending the rental agreement if the tenants have lived in the home for over a year. This is even true in month-to-month rental agreements. Our final thoughtsHousing is a complicated industry, which means that being a landlord can be a full-time job for many people. It’s not always easy to determine your legal rights and obligations as a landlord. With tenant screening services like SingleKey, landlords can simplify the renting process and ensure they remain legally compliant when assessing potential tenants. This blog post is intended for general informational purposes only and is subject to change. It is not intended as legal advice. Consult your local laws and seek professional legal counsel before making any decision or taking any action based on this post. --- ### How Tenant Screening Services Help Landlords in the U.S.  [How Tenant Screening Services Help Landlords in the U.S. ](https://www.singlekey.com/en-us/tenant-report/how-tenant-screening-services-help-landlords-in-the-us/) Meta: Tenant screening services help landlords identify ideal tenants by checking income and identity, credit history, and criminal and eviction background. Date: June 14, 2023 Author: SingleKey Content: Are you a property owner, landlord, or even a real estate agent searching for the ideal renter? If your main priority is protecting your rental property and receiving rent on time, using tenant screening services and tools that offer thorough screening reports is essential. Screening a tenant can uncover red flags that don't meet your criteria. SingleKey sends reference requests to previous landlords and guides you through the application process so you feel confident your investment property is in good hands.  A comprehensive tenant screening service will help landlords and property managers quickly navigate a stack of applications, selecting the best potential tenants.  Managing a rental property is like operating any other business––you have to be equal parts highly organized and analytical. While your primary goal may be to earn an income by filling a vacancy, there is a preliminary vetting process every landlord must complete. Utilizing a tenant screening service will accelerate your tenant screening results so you can jump-start the rental process. What exactly is tenant screening? Tenant screening is when you evaluate potential tenants before approving them to rent your property. You are assessing someone based on several screening criteria, including their credit report gleaned from major credit bureaus, their criminal history, and if they have received any eviction notices. You're also looking for previous landlords to confirm the individual’s timely rent payment history. The tenant screening process empowers landlords with valuable information and complete transparency to make an informed decision. This process includes pre-screening prospective tenants during a showing or in an application.  Why do landlords use tenant screening tools? Landlords use tenant screening tools to streamline their ability to find qualified tenants. One of those tools is a tenant screening report, which can provide the following information on potential renters:  Identity confirmation (e.g., name, date of birth) Income insights Employment history Residential history Eviction history Landlord references Background checks Criminal background check Credit score and credit report from a major credit bureau What tenant screening services are available in the U.S.?  Many tenant screening packages vary in price, functionality, and offerings. Most services only include tenant screening reports. However, you can incorporate other vital features beyond the tenant screening reports to optimize the property management workflow.  The SingleKey tenant screening platform available in the United States includes: SingleKey's Tenant Report: With an applicant's consent, submit the individual's personal details to get their criminal history, credit history, credit score, eviction report, employment history, income verification, and a social media scan. Here is a Sample Report that shows all the information available on a prospective tenant. A tenant screening report costs $29.99 in the U.S. Rent Guarantee Program: Landlords can protect their rental income if renters stop paying rent.  With additional services like the Rent Guarantee Program that SingleKey offers, property owners can reduce the risk of late rental payments. Who benefits from using a tenant screening platform? Anyone preparing to rent one or multiple investment properties will benefit from using SingleKey's services, tailored to simplify the renting process––this includes homeowners, property managers, realtors, and real estate agents. With SingleKey's tenant screening tools, you can expect to get a tenant report within five minutes upon completing the online application. This time may vary if the potential tenant is completing the report request themselves.  The tamper-proof reports you'll receive are fair and accurate. You can choose from two options when ordering: Invite Tenant: Send a link to a prospective tenant. You can request that they input their information and pay for the report directly. Enter Tenant Information: Submit the tenant's information with their consent and cover the screening fee yourself. Insights into other tenant screening companies and how they stack up Many tenant screening companies are comparable to SingleKey in providing screening reports. Still, there's no rivaling SingleKey regarding accuracy and tools that support and streamline the rental process.  E-Renter offers tenant screening reports for property managers. Here's what you get for their all-inclusive package priced at $36.99: Identity verification Background check Credit check Name history Address history Rent Check Advisor® First Advantage caters to employers who conduct drug tests, fingerprinting, and background checks. Property managers can get a background check for $29. LeaseRunner provides tenant screening services to property managers. They offer credit and criminal reports, three-month income verification, eviction history, and a digital lease. Property managers can pay for the individual service or utilize all available services for under $90.  RentPrep exclusively offers two types of tenant screening reports––one will produce minimal results, including identity confirmation, eviction history, bankruptcies, or any judgments or liens for $21. The more comprehensive report will cost $40 and includes:  Full credit report with ResidentScore SSN verification/Address history Nationwide criminal and sex offender search Nationwide evictions Bankruptcies Applicant pay option SmartMove (via TransUnion) pulls credit reports, background checks, and more for $40. They specialize in tenant screening services for landlords.  TurboTenant serves landlords looking for rent collection software and income insights. While the rent collection feature is free for landlords, there is a 3.49% convenience fee for tenants paying with credit cards and debit cards. Landlords pay $8.99 per month for the following features:  Income insights Expedited rent payouts Connected bank accounts Rent reporting Compared to other offerings, SingleKey is the most comprehensive and economical. SingleKey assesses a tenant's complete background and financial history, reduces your risk of inviting unreliable renters into your investment property, and helps you manage your property efficiently. FAQ: What to know about tenant screening services for landlords What credit background checks do most landlords use? Credit screening services help landlords interpret credit history and find a potential tenant’s credit score by getting consent from the tenant and completing an online form. The credit reporting bureaus most commonly used to obtain a renter credit check are TransUnion, Equifax, and Experian. The SingleKey credit report is obtained through Equifax. How do I screen a tenant in the U.S.? It is paramount to screen applicants through extensive background check services. You must get permission from a prospective tenant before pulling background check reports, including criminal records. A reputable background check company should conduct the tenant screening. Landlords can find background screening services available at reasonable rates, which include credit checks, eviction history, and criminal records. Reputable background check companies will conduct employment verification, check the debt-to-income ratio, and validate the prospective tenant’s previous address. They will also send reference requests to previous landlords to learn about an applicable eviction record. Additionally, a tenant screening service will conduct a criminal background check that provides valuable insights into each applicant and minimizes the chance of renting to disruptive tenants. Many landlords use online tenant screening services to check prospective renters’ financial stability and rental history to ensure a successful relationship. What can landlords not do in the U.S.? Depending on the state you reside in, eviction laws will vary. If a landlord wants to list their investment property as a rental property listing, they can only do so after a lease ends. In some states, a property manager must go through a court before starting eviction-related proceedings or giving eviction notices. Independent landlords and tenant screening companies can only conduct background checks with a tenant’s consent. You can ask for proof of income, rental history references, and permission for background checks during the application process. Landlords cover the screening fees, or they can add the screening cost to the application fee, but they cannot charge additional expenses not included in a lease agreement. In most cases, landlords must notify the tenant that they need to visit the premises and request approval for property owner access. Our final thoughts A comprehensive Tenant Report from SingleKey is a powerful asset to help any property manager make an informed decision about selecting their next tenant. Learn more about how to order a report today. --- ### Everything to Know About Tenant Screening Laws in the United States [Everything to Know About Tenant Screening Laws in the United States](https://www.singlekey.com/en-us/ownerkey/tenant-screening/tenant-screening-laws-in-the-united-states/) Meta: This guide on tenant screening laws explores the Fair Housing Act and its impact on the tenant screening process. State and local laws on tenant screening may vary. Date: May 30, 2023 Author: SingleKey Content: How does the Fair Housing Act impact tenant screening laws?Before a tenant signs a lease agreement, there is a vetting process that each person must go through. From the moment property managers meet prospective tenants, they are bound by tenant screening laws outlined in state and local legislation, as well as the Fair Housing Act. The Fair Housing Act (FHAct) bans any form of discrimination by housing providers, including landlords, property managers, real estate companies, banks, lending institutions, and homeowners insurance companies. Under the Fair Housing Act, landlords cannot refuse applicants for any of the following reasons: Race or colorReligionSexNational originFamilial statusDisabilityIt's critical that all housing providers abide by these rules throughout the tenant verification process to steer clear of legal complications. When anyone schedules a tour to view a rental property, landlords should be ready for questions regarding the space and neighborhood. The following topics rarely come up organically in conversation, but if they do, preparing is a good idea. If the person viewing the property is interested in the space, it's okay for a landlord to ask how many people will be residing in the rental. If they mention that their children would be living in the space, landlords should avoid asking how old their children are, even if they are only trying to engage in friendly conversation. The Fair Housing Act bans discrimination against families with children under 18. Additionally, it prohibits the denial of housing to families with children. Asking about race, sexual orientation, national origin, or disability is off limits. Suppose an applicant suspects a property manager is using discriminatory practices that violate the Fair Housing Law. In that case, they can contact the Fair Housing Justice Center to report the landlord for further investigation. If the Fair Housing Justice Center finds the property owner has broken specific tenant screening laws by not treating applicants and tenants equally, a civil action can be filed.Pre-screening questions landlords can askWhile the official screening starts with the application, the pre-screening process begins when you first list your property. Here are common questions that landlords ask tenants during the pre-screening process if the opportunity arises. When are you looking to move in? What is your preferred lease term? How many people will be living with you?What is your current address?How long have you been at this address?Have you given your current landlord proper notice?What is your reason for moving?How soon can you move in?Do you have any pets? If so, what type and how many?Are you employed? Can you list your current employment?Is your work full-time, part-time, or seasonal? Will paying the first month’s rent be an issue?How did you hear about this rental?Do I have your consent to a credit and background check?Can you provide references from your previous landlord?The initial screening criteria will help establish a rapport and will help provide the landlord with insights into their possible tenants.Download Top Questions to Ask a Potential TenantIf the potential tenants express interest in the rental at the viewing, that would be a good time for the landlord to inform them of the rental application process. Potential tenants will need to complete an application and provide the following consent for screening reports, including: Criminal background checkCredit checks and credit history checksEmployment history checkCredit checks are typically administered by screening companies pulled from one of the nationwide consumer reporting agencies. While a soft inquiry will not affect your credit score, a hard inquiry can shave off some points. Landlords can also inform applicants that they must provide their social security number, income verification, source of income, and email address, along with other essential information. A security deposit form and lease are drawn up if the application is approved. What to include on a tenant screening checklist Before landlords accept a tenant's deposit and provide the keys to a rental, they need to ensure that the possible, soon-to-be tenants pass the income test, that they have a fair to solid credit score, a good credit history, and are in good standing with their rental history.When a tenant is tethered by eviction histories or extensive criminal history, that is a significant warning to landlords. Poor credit reports, eviction, and criminal records can be deal breakers and do not fall under housing discrimination laws. This is why background checks are essential in a landlord's quest to find their ideal tenant. If an applicant has an eviction record, that could indicate many missed or late payments. Here are essential items to include on a tenant screening checklist: Basic information, e.g., name, DOB, residential addressEmployment statusIncome sourcesList pets, size, breedLandlord referencesList other occupants, if applicableDo they consent to a background check?Do they agree to a credit check?Download the Tenant Screening ChecklistFAQ: What questions can a landlord ask during the tenant screening process? Are tenant screening questions sometimes region-specific in the U.S.? Yes, each landlord must comply with state and federal legislation related to tenant screening laws, including the Fair Credit Reporting Act (FRCA). Can I ask what a tenant's first language is during the showing? It’s better to avoid asking, especially if the landlord only speaks English. Can I request a higher security deposit if the tenant has children or multiple pets? It depends. You cannot ask for a higher security deposit solely because the tenant has a child. However, you can ask for a pet deposit. Our final thoughts SingleKey offers accurate tenant reports, including credit and background checks, social media scans, and more. In addition to providing exceptional screening practices, we abide by all fair housing, state, and local regulations. Learn more about our risk-free tenant screening --- ## ES-US Pages ### Informe del inquilino [Informe del inquilino](https://www.singlekey.com/es-us/informe-del-inquilino/) Date: September 30, 2024 Author: SingleKey Content: Informe del inquilino Evalúe a los inquilinos de forma más inteligente y rápida Elige siempre al inquilino adecuado con la selección de inquilinos y la búsqueda de registros públicos más completas. Haz tu pedido ahora y obtendrás resultados en cuestión de minutos. Regístrate y haz tu pedido en 3 pasos ¡Obtén resultados en menos de 5 minutos! Informes a prueba de manipulaciones, enviados directamente a ti Soluciones empresariales disponibles Desarrollado por Informe del inquilino ???????? $29.99 / solicitante Iniciar el cribado Ver ejemplo de informe Comprobación de crédito Equifax Control nacional de antecedentes penales de EE.UU. Verificación de ingresos y empleo Solicitud de alquiler online Verificación del DNI Informe de inquilinos de SingleKey Un informe es todo lo que necesitas Obtén todos los datos que necesitas para elegir al inquilino adecuado. Cada informe de inquilino incluye una comprobación de crédito, una comprobación de antecedentes penales en EE.UU. y una solicitud de alquiler completa. Informe de crédito de Equifax® Obtendrá un puntaje crediticio y datos completos del historial crediticio, uno de los mejores indicadores del estado financiero y el historial de pagos de un inquilino. Verificación criminal nacional de EE. UU. El paquete de Verificación Criminal Nacional de EE. UU. incluye Rastreo del SSN, Verificación de la Base de Datos Nacional de Antecedentes Penales, Verificación del Registro Nacional de Delincuentes Sexuales y Verificación de la Lista de Vigilancia de Terroristas y Sanciones Globales, todos con un período retrospectivo de 7 años. Los resultados se limitan a condenas por delitos graves y menores y a casos pendientes. Las búsquedas del condado verifican la información en el Índice de uso predominante (PUI) del condado. Solicitud de alquiler en línea Además de la información laboral de Equifax, se solicita a los inquilinos que proporcionen referencias laborales y carguen comprobantes de ingresos (por ejemplo, recibos de pago recientes) al completar nuestra solicitud de alquiler en línea. Verificación de ingresos y empleo Le ayudamos a recopilar referencias laborales y comprobantes de ingresos durante el proceso de solicitud de alquiler en línea para que pueda verificar el estado laboral y los ingresos del inquilino. Verificación de identidad Confirmaremos la identidad de su solicitante de alquiler para asegurarnos de que coincida con los detalles de su solicitud. Características adicionales Atajos inteligentes. Detección más rápida. Ahorra tiempo y esfuerzo con funciones adicionales integradas en cada Informe de Inquilinos. Perfil completo del hogar Recoge detalles adicionales del hogar en una sola instantánea, incluyendo el número de inquilinos, vehículos, mascotas y resúmenes de ingresos. Referencias verificadas SingleKey envía automáticamente solicitudes de referencias a los anteriores caseros de los inquilinos. Las referencias completadas se te envían directamente y los inquilinos no pueden acceder a ellas. Formulario de preselección Filtra rápidamente las solicitudes con nuestro formulario gratuito de preselección. El formulario personalizable incluye preguntas sobre finanzas, hábitos personales y condiciones de alquiler deseadas. Ver un ejemplo Pide un informe Pedir tu informe Ordene ahora. Obtenga resultados en minutos. Obtener tu Informe de Arrendatario es seguro, fácil y sólo te llevará unos minutos. Rellena lo básico Comparte alguna información sobre tu inquilino, o invítale a rellenar sus datos. Pagar en línea Paga el Informe del Inquilino con tarjeta de crédito, o pide a tu inquilino que envíe su propio pago. Obtén tu informe Regístrate y verifica tu identidad en línea. El informe estará disponible para un acceso seguro en tu portal SingleKey. Pide un informe Como se ve en Llegan las críticas “SingleKey es IMPRESCINDIBLE para todos los propietarios para todos los propietarios para su proceso de selección”. “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Tenant Report Customer “SingleKey makes screening of prospective tenants easier with their background check service. The report metrics are easy to understand and I was able to make a decision based on these metrics. I will highly recommend SingleKey.” Ridwan Abdulazeez SingleKey Tenant Report Customer “Professional and reliable services. I live in the US and was struggling to run a background check on someone from Canada. So grateful I found SingleKey.” Trang Nguyen SingleKey Tenant Report Customer “In addition to doing it all on my own, I've tried several other tenant screening services in the past. SingleKey has been the best! They are a real timesaver in my busy day. The ease of letting the tenant complete the application, the choice of who pays, the comprehensive and detailed report, and the referral rating system for the tenant's references - FIVE STARS SingleKey. You make my life easier and give me the ability to rent with confidence.” Laurie May Peroff SingleKey Tenant Report Customer “SingleKey was easy for me as a Landlord to use, and was great for my applicants as they did not have to worry about providing their details directly to me. The cost is totally reasonable and I intend to use this for all my future tenant screening.” Andrew Remington SingleKey Tenant Report Customer “I’ve used SingleKey numerous times on different rental properties I have. Not only did it help me pick out good tenants, I avoided picking a certain disaster tenant. The reports are very thorough and give a ton of information. SingleKey is a MUST for all landlords for their screening process. You can’t beat the assurance for the low cost of a report!” Andrew Remington SingleKey Tenant Report Customer Informe del inquilino FAQ Por si te lo preguntabas... Encuentra respuestas a nuestras preguntas más frecuentes, o ponte en contacto con nosotros para obtener más información. ¿Este servicio está disponible en los 50 estados? Sí, SingleKey ofrece servicios integrales de selección de inquilinos y un programa de garantía de alquiler, disponible en los 50 estados de EEUU. ¿Cómo funciona la tarificación? Sólo cobramos una tarifa por control de inquilinos. Sin cuotas mensuales de suscripción o servicios. Puedes pagar tú mismo o pedir al inquilino que pague. ¿Qué información necesito para pedir un informe? Para pedir un informe de crédito de inquilino, tienes 2 opciones: Opción 1: INVITA AL ARRENDATARIO Envía por correo electrónico a un inquilino el formulario de solicitud para recabar su información. A continuación, el inquilino rellena sus datos y da su consentimiento para que se realice el informe crediticio. A continuación, ejecutamos el informe y te avisamos cuando esté listo. Opción 2: INTRODUCE LA INFORMACIÓN DEL ARRENDATARIO Si tienes los datos del inquilino y su consentimiento, puedes introducir los datos del inquilino y obtener los resultados en 5 minutos. Para ejecutar el informe, necesitarás el nombre legal, la dirección y la fecha de nacimiento del inquilino. ¿Afectará esto a la puntuación crediticia del inquilino? La consulta de crédito aparecerá en el expediente de crédito del solicitante, pero no tendrá un impacto significativo en su puntuación de crédito, ya que no se trata de una solicitud de crédito. ¿Están seguros mis datos? Proteger tu información es nuestra prioridad. Todos los datos de inquilinos y propietarios se almacenan de forma segura y encriptada. Para más detalles, consulta nuestra Política de privacidad. ¿Cómo creo una cuenta? Puedes utilizar este enlace para crear una cuenta. Después de introducir tus datos, se te pedirá que pases por nuestro proceso de verificación. Una vez verificada tu cuenta, puedes realizar informes. ¿Puedo pedir un informe para mí? Por supuesto. Sólo tienes que pulsar Pedir ahora, seleccionar la opción “Introducir información del inquilino” y, a continuación, introducir tus datos. Ten en cuenta que tendrás que introducir tu nombre y dirección de correo electrónico dos veces en las secciones “Tus datos” e “Información del inquilino”. Related Posts Encuentra el inquilino perfecto para tu lugar. Elige con inteligencia y alquila con seguridad con el informe sobre inquilinos nº 1 de Estados Unidos. Iniciar el cribado --- ### Cobro de alquileres [Cobro de alquileres](https://www.singlekey.com/es-us/cobro-de-alquileres/) Date: May 21, 2024 Author: SingleKey Content: Cobro de alquileres Automatiza el alquiler y cobra a tiempo Olvídate de los cheques y de los retrasos en los pagos. Rent Collection envía la renta mensual directamente a tu cuenta bancaria, y ofrece a los inquilinos incentivos adicionales para pagar a tiempo. Personaliza tu calendario de pagos Establece recordatorios automáticos para los inquilinos Incentivar los pagos puntuales Empieza Cobro de alquileres por SingleKey ¡Adiós a la morosidad! Hola, ¡la primera herramienta de recogida de alquileres de Canadá! Consigue que los pagos mensuales del alquiler se depositen directamente en tu cuenta bancaria, y ayuda a los inquilinos a construir su crédito simplemente pagando a tiempo. Automatiza los pagos mensuales Consigue que los pagos se procesen en sólo 3-5 días laborables. También enviaremos recordatorios automáticos a los inquilinos y te avisaremos cuando se efectúen los pagos. Cobrar a tiempo Informando de los pagos a la oficina de crédito, puedes ayudar a los inquilinos a construir su historial crediticio e incentivarles para que paguen el alquiler a tiempo. Horario flexible Da a tus inquilinos tiempo extra cuando lo necesiten. También tienes un control total, con cómodas formas de retrasar, omitir o cancelar los cobros automatizados. Depósitos rápidos directos al banco Deja atrás los cheques y las transferencias electrónicas. Conecta con tus inquilinos para que te envíen los pagos a tu cuenta bancaria todos los meses. Inscríbete ahora Cómo funciona Automatiza el alquiler, así de fácil Configura pagos automáticos con tus inquilinos en unos pocos clics. Ingrese la información del arrendamiento Comparta información básica sobre su contrato de arrendamiento, incluida la dirección de la unidad, el monto del alquiler y el calendario de pagos. Invita a tu inquilino Comparta un enlace con su inquilino para conectar su cuenta bancaria. Los pagos del alquiler se retirarán automáticamente el día que elijas. Conecta tu banco Verifique su identidad y conecte su cuenta bancaria para configurar depósitos automáticos. Empezar https://www.singlekey.com/wp-content/uploads/2023/01/Rent-Collection-Tutorial.mp4 Cómo empezar Fácil para ti. Fácil para los inquilinos. Regístrate y configúralo en sólo 3 pasos. Mira nuestro Demostración de 3 minutos. Inscríbete ahora Beneficios clave Elimina la tarea de pagar el alquiler Rent Collection hace que los pagos mensuales del alquiler sean más fáciles, seguros y rápidos para todos. Soy propietario Soy inquilino Soy propietario Nunca vuelvas a perseguir el alquiler No más cheques y transferencias electrónicas. Obtenga depósitos de alquiler automáticos enviados a su cuenta bancaria Activar recordatorios mensuales para inquilinos Mejore las relaciones con los inquilinos ayudándolos a desarrollar su crédito Incentivar los pagos puntuales y la rendición de cuentas con informes al buró de crédito Soy inquilino Pagar renta. Aumente su crédito. Obtenga pagos puntuales informados automáticamente a la agencia de crédito Construya su puntaje crediticio con su gasto mensual más grande No más cheques y transferencias electrónicas con el cobro automatizado del alquiler Perfecto para estudiantes y recién llegados que buscan desarrollar su historial crediticio. Utilizar el cobro de alquileres La automatización se une a la flexibilidad ¡Adiós a los cheques y las transferencias electrónicas! A los propietarios les encanta utilizar las soluciones de selección de inquilinos de SingleKey y siempre prefieren nuestros Informes de Inquilinos a otros informes gratuitos. Gestiona el cobro de tu alquiler Retrasar, omitir o cancelar los cobros automáticos de tu cuenta en cualquier momento. Recibe actualizaciones de pago en tiempo real Recibe notificaciones de pagos realizados con éxito o sin éxito, retrasos en los pagos y mucho más. Informar a la oficina de crédito Incentiva los pagos puntuales de tus inquilinos informando de los impagos a la oficina de crédito. Crear una cuenta Cifrado de datos y privacidad Dedicado a la seguridad Nada es más importante para nosotros que mantener segura tu información. SingleKey trabaja con socios de vanguardia para implantar los últimos protocolos de seguridad. Nunca almacenamos información personal ni credenciales de acceso bancario Última encriptación de datos activada (TLS 1.2) Cumple los últimos protocolos de seguridad web Asociado con el principal proveedor de pagos de Canadá Precios Pequeña cuota mensual. Págalo sobre la marcha. Consigue tranquilidad por menos de una taza de café. Nuestra cuota mensual cubre los costes de transacción necesarios y garantiza un servicio al cliente excepcional para ti y para tu inquilino. GRATIS / 3 primeros inquilinos Procesamiento automatizado de pagos Transferencias directas de banco a banco Omitir o retrasar pagos Recordatorios de pago mensuales Programar pagos futuros Informar de los pagos a la oficina de crédito Procesamiento automatizado de pagos Transferencias directas de banco a banco Omitir o retrasar pagos Recordatorios de pago mensuales Programar pagos futuros Informar de los pagos a la oficina de crédito Empieza ¿Tienes más de 10 inquilinos? Pide un presupuesto Llegan las críticas "Nunca tendré que preocuparme por el impago del alquiler". “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field.” a-a SingleKey Customer ““As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer Ver todas las opiniones Preguntas frecuentes sobre el cobro del alquiler Por si te lo estabas preguntando... Encuentra respuestas a nuestras preguntas más frecuentes, o ponte en contacto con nosotros para obtener más información. ¿Cuál es el coste de este servicio? El servicio de cobro de alquileres es gratuito para un máximo de 3 transacciones simultáneas al mes. Si tienes 3 contratos de alquiler, normalmente pagarás 0$ al mes. Para hasta 10 arrendamientos, cobraríamos 5 $ por transacción (10-3 = 7 * 5 $ = 35 $).Por más de 10 alquileres, cobramos 3 $ por transacción. Para más información sobre el cobro de alquileres, envíanos un correo electrónico a info@singlekey.com o visítanos en nuestro chatbot, que se encuentra en la parte inferior derecha de nuestro sitio web, y estaremos encantados de atenderte. ¿Cómo gestiono mis pagos? Al completar el cobro de tu alquiler en la plataforma SingleKey, tendrás acceso a tu panel de cobro de alquiler, en el que: – Proporcionar el estado del pago– Permitir retrasar u omitir pagos– Permitir la cancelación del cobro de la renta al final del contrato de alquiler Para más información visita nuestra guía de configuración . ¿Puedo hacer cambios en mis colecciones? Sí, podrás hacer estos cambios en cualquier momento: – Retrasa el cobro del alquiler del mes siguiente– Omitir el cobro de la renta del mes siguiente– Anular el cobro mensual del alquiler ¿Qué ocurre cuando los inquilinos no pagan? Te notificaremos tanto a ti como al inquilino el impago. Sugerimos a los propietarios que se pongan en contacto con los inquilinos que no hayan pagado la renta para asegurarse de que cobran. Si el inquilino no paga el alquiler, sugerimos al propietario que siga los procedimientos adecuados para mediar y/o desalojar según las directrices legales apropiadas en la jurisdicción de la vivienda. Nota: si estás apuntado a la Garantía de Alquiler, SingleKey ayudará a mediar y desahuciar a los inquilinos morosos trabajando con nuestros socios paralegales. ¿Cuánto tardan en procesarse los pagos? Normalmente, la transferencia del alquiler tarda entre 4 y 5 días laborables en completarse. Ten en cuenta que si la fecha de pago cae en fin de semana o festivo, el proceso de cobro del alquiler comenzará el siguiente día laborable. ¿Notificáis a mi(s) inquilino(s) el vencimiento del alquiler? Sí. Enviaremos un correo electrónico de notificación a tu(s) inquilino(s) 2 días antes del vencimiento del alquiler para que puedan asegurarse de que tienen fondos suficientes en su cuenta. Al configurar el cobro del alquiler, invitarás a tu(s) inquilino(s) por correo electrónico a aceptar las condiciones del Cobro del Alquiler y a conectar su cuenta bancaria. ¿Cómo afectará esto a la puntuación crediticia de mi inquilino? Queremos ayudar a los inquilinos a mejorar su puntuación crediticia con el tiempo. Para ello, todos los pagos gestionados por nuestra plataforma se comunicarán a las agencias de crédito, incluidos los pagos puntuales, los retrasos y los impagos. Los pagos realizados a tiempo ayudarán a mejorar la puntuación, mientras que los impagos la reducirán. ¿Cómo de segura es mi información bancaria? Ten en cuenta que SingleKey NO recoge ni almacena tus credenciales de acceso al banco. Sólo almacenamos tu número de cuenta bancaria para determinar dónde depositar tus pagos de alquiler. Estamos asociados con un importante proveedor de pagos canadiense para facilitar el cobro del alquiler. La seguridad de tu información es muy importante para nosotros y nuestros socios. Empleamos los últimos protocolos de encriptación y seguridad de datos para mantener a salvo tu información. Regístrate e invita a tu inquilino hoy mismo. Simplifica el pago de tus próximos alquileres con Cobro de Alquileres. Empieza --- ### Garantía de Alquiler [Garantía de Alquiler](https://www.singlekey.com/es-us/garantia-de-alquiler/) Date: May 17, 2024 Author: SingleKey Content: Garantía de Alquiler Protege tus ingresos de alquiler Alquila tu propiedad: déjanos los riesgos a nosotros. En caso de falta de pago del alquiler, daños a la propiedad o ruptura del contrato, la Garantía de Alquiler da a los propietarios la máxima tranquilidad, proporcionándoles seguridad financiera y apoyo jurídico. Obtener una cotización Empieza hoy mismo ¿Por qué la Garantía de Alquiler? Los problemas con los inquilinos pueden ser extremadamente caros. Los inquilinos dejan de pagar el alquiler por muchas razones: pérdida del trabajo, problemas de pareja, problemas de salud, problemas de liquidez... la lista es interminable. Sea lo que sea, nuestra Garantía de Alquiler puede asumir los riesgos para que nunca tengas que preocuparte por pérdidas de pago de alquileres, costos judiciales o daños a la propiedad. -$12,000 Costo promedio de desalojos de inquilinos pagado por los propietarios de viviendas. -$1,250 Costo promedio de honorarios legales, presentación judicial y servicios de alguacil para audiencias de arrendamiento 4-8 meses tiempo promedio de desalojar a un inquilino (varía según el estado) Descargar el folleto Garantía de Alquiler por SingleKey Elimina el riesgo estrés y las pérdidas por falta de pago de alquiler Cuando no puedes confiar en que los inquilinos cubran los pagos de tu hipoteca, nuestro programa de Garantía de Alquiler interviene con respaldo financiero y apoyo jurídico para que no tengas que preocuparte. Garantía de ingresos por alquiler En caso de morosidad, cubriremos hasta 12 meses de alquiler (hasta $60,000) Protección contra la ruptura del contrato de alquiler Consigue que te paguen 30 días de alquiler si tu inquilino se va sin avisar. Protección de daños materiales Reembolsaremos los daños al inquilino malintencionado impagados por orden judicial hasta $10.000 Soporte legal y resolución de desalojos En caso de desalojo, nuestro equipo de asistentes legales te apoyará durante todo el proceso, con el reembolso de los honorarios legales hasta $2,000. Cobro automatizado de alquileres Establece pagos mensuales automatizados con tus inquilinos y ayúdales a mejorar su puntuación crediticia por pagar puntualmente. (Opcional) Informe del inquilino Cada suscripción a la Garantía de Alquiler incluye 2 Informes crediticios de Inquilinos para que puedas seleccionar posibles inquilinos con confianza. Reservar una llamada Cómo empezar Consigue la garantía en 4 pasos Completa algunos detalles para que tu inquilino sea aprobado de inmediato. Así de fácil. Puesta en marcha Documentos necesarios Obtener la cualificación Conseguir el reembolso Puesta en marcha Crea una cuenta Inscríbase en la Garantía de alquiler compartiendo información sobre su unidad y sus inquilinos. Obtenga su inquilino aprobado Cargue algunos documentos para iniciar el proceso de aprobación del inquilino, incluido su informe de inquilino y comprobante de ingresos. Ver criterios de calificación (Opcional) Configurar el cobro del alquiler Elige cómo quieres cobrar tu alquiler. Nuestra herramienta automatizada de cobro de alquiler es de uso gratuito para todos los suscriptores de la Garantía de alquiler. Inicia tu cobertura Una vez que haya enviado la información y los documentos requeridos, nos comunicaremos en breve con su Acuerdo de garantía de alquiler finalizado. Documentos necesarios Para nuevos inquilinos Los nuevos inquilinos con menos de 6 meses de contrato de arrendamiento deberán presentar los siguientes documentos: Informe de crédito del inquilino o Informe de inquilino de SingleKey Prueba de ingreso Para inquilinos de arrendamiento medio Los inquilinos a mitad de contrato con más de 6 meses de contrato de arrendamiento deben presentar los siguientes documentos: Comprobante de pago de alquiler de los últimos meses. Informe de crédito del inquilino o Informe de inquilino SingleKey (opcional, pero preferido) Comprobante de ingresos (opcional, pero preferido) Obtener la cualificación Requisitos del inquilino Los inquilinos califican para estar cubiertos por la Garantía de alquiler si tienen: No hay quiebra ni desalojo previo en un informe de crédito en los últimos tres años. Al menos un miembro empleado en el hogar. Una relación entre el alquiler y el ingreso bruto del hogar que no exceda el 50% *Los inquilinos no serán evaluados según su puntaje crediticio. Requisitos de propietario y propiedad Los propietarios pueden obtener su propiedad cubierta por la Garantía de alquiler si pueden proporcionar prueba de lo siguiente: La propiedad es una unidad de alquiler legal. Tienen un contrato de arrendamiento válido firmado con un inquilino. Para reclamar daños a la propiedad, una lista de verificación de mudanza o fotografías previas a la inspección Conseguir el reembolso Cuéntanos que pasó Predeterminado de garantía de alquiler: Notificarnos por escrito dentro de los tres (3) días hábiles si el inquilino no paga el alquiler. Daño intencional: Notifiquenos por escrito dentro de los diez (10) días hábiles posteriores al descubrimiento de daños a la propiedad por parte de su inquilino. Adjuntar documentos requeridos Envíe su reclamo desde su cuenta SingleKey o envíenos una nota a info@singlekey.com para recibir sus próximos pasos. Ver Documentos Requeridos Envíe su reclamo Envíe su reclamo desde su cuenta SingleKey o envíenos una nota a info@singlekey.com para recibir sus próximos pasos. Reserva una llamada Precio Paga mensual. Sin tarifas ocultas. Obtén toda la cobertura por un bajo porcentaje de tu alquiler mensual. Además, ahorra más cuando pagas anualmente 5% del precio mensual del alquiler, pagado anualmente o 5,5% si pagas mensualmente Incluye: Alquiler garantizado Protección contra daños Cobertura de honorarios legales Protección de Vacantes Cobro del alquiler (Opcional) 2 Informes gratuitos sobre inquilinos Reservar una llamada Escucha a nuestros usuarios Relájate con la Garantía de Alquiler Escucha a propietarios reales decirte cómo la Garantía de Alquiler les mantuvo protegidos. Reserva una llamada Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. Ali Landlord Let SingleKey cover lost rent and guide you through an eviction with professional legal support. Arjit Landlord Find peace of mind and the confidence to rent as a first-time landlord with SingleKey’s Rent Guarantee. Como se vio en Llegan las críticas "Un modelo brillante que te protege de cualquier incertidumbre de no cobrar el alquiler". “Brilliant model that protects you from any uncertainty of not getting your rent. Loved the overall support. My account manager even responded to my requests on weekends! SingleKey gives me peace of mind!” Maunil Parikh SingleKey Customer “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “I used SingleKey for tenant verification and background check. I am impressed with the service I got and have signed up for Rent Guarantee. It’s an insurance for landlords for rent and seems like a great option. I hope I don’t have to use the benefits or leverage Rent Guarantee program but at least have a peace of mind that I will be covered in case needed.” Faisal Saeed SingleKey Rent Guarantee Customer Garantía de Alquiler FAQ En caso de que te lo estuvieras preguntando... Encuentra respuestas a nuestras preguntas más frecuentes, o ponte en contacto con nosotros para obtener más información. Reserva una llamada ¿Qué incluye el Programa de Garantía de Alquiler? El Programa de Garantía de Alquiler incluye:Ingresos por alquiler garantizados hasta 12 meses o $60,000 por alquilerProtección contra daños causados por inquilinos malintencionados hasta $10,000 por contrato de alquilerLos honorarios de los abogados durante el proceso de desahucio están cubiertos hasta $2,000.Cobro automático del alquiler mediante PAD2 Comprobaciones GRATUITAS del crédito y los antecedentes del inquilino ¿Qué ocurre cuando los inquilinos no pagan el alquiler? Como cobramos el alquiler por ti, sabremos enseguida si el inquilino no ha pagado y tomaremos medidas para ponernos en contacto con él y cobrarle el alquiler. Si el inquilino no responde, seguiremos pagándote el alquiler durante un máximo de 12 meses mientras trabajamos con nuestro equipo de asistentes jurídicos para expulsar al inquilino moroso. ¿Qué ocurre si el inquilino causa daños o destroza mi propiedad? En caso de daños materiales negligentes o intencionados por parte del inquilino, notifícanoslo en el plazo del siguiente día laborable y se te reembolsarán hasta 10.000 $ por daños si el inquilino se niega a pagar. ¿Qué documentos necesitas para iniciar la Garantía de Alquiler? Para iniciar la Garantía de Alquiler, necesitamos los siguientes documentos: Un informe crediticio de cada inquilino – podemos ayudarte con esto Prueba reciente de ingresos en forma de talones de pago recientes, extractos bancarios o una carta de empleo Ten en cuenta que sólo se requiere un contrato de alquiler válido firmado después de que nuestro equipo apruebe la Garantía de Alquiler. También recomendamos que el propietario realice un informe de preinspección incluyendo imágenes de la propiedad en las que se detalle el estado de la unidad antes de que el inquilino se mudara a ella. También es necesario un seguro de propietario o de hogar. ¿Cuáles son los requisitos para ser inquilino? La buena noticia es que no calificamos a los inquilinos basándonos únicamente en su puntuación crediticia. Para garantizar la asequibilidad, exigimos que el alquiler no supere el 45% de los ingresos familiares brutos del inquilino. ¿Garantizas tanto a los inquilinos existentes como a los nuevos? Sí, podemos garantizar inquilinos nuevos y a mitad de alquiler. Para los inquilinos existentes, simplemente pedimos confirmación de que el inquilino ha efectuado puntualmente sus pagos de alquiler anteriores. El alquiler sin estrés empieza aquí. Experimenta el alquiler sin riesgos, sólo con SingleKey. Reserva una llamada --- ### Página de inicio [Página de inicio](https://www.singlekey.com/es-us/pagina-de-inicio/) Meta: Con la confianza de más de 150.000 propietarios. El alquiler se vuelve imprevisible. Protege tus ingresos por alquiler con las soluciones de mitigación de riesgos de SingleKey para propietarios de viviendas, empresas de alquiler e inquilinos. Date: January 18, 2023 Author: SingleKey Content: Alquiler sin riesgo, por fin. El alquiler se vuelve imprevisible. Protege tus ingresos por alquiler con las soluciones de mitigación de riesgos de SingleKey para propietarios de viviendas, empresas de alquiler e inquilinos. Regístrate gratis Con la confianza de más de 120.000 propietarios Conoce SingleKey De principio a fin protección de alquiler Elimina el riesgo del alquiler en 3 sencillos pasos. Informe crediticio del inquilino Cobro de alquileres Garantía de Alquiler Primer paso Elige inquilinos seguros Examina a tus inquilinos de forma más rápida e inteligente que cualquier verificación de crédito. Nuestro exhaustivo Informe de Inquilinos te ofrece resultados en cuestión de minutos, e incluye comprobaciones crediticias, sociales, de antecedentes y de referencias. Segundo paso Cobrar a tiempo Sáltate el papeleo. Establece depósitos mensuales automatizados con tu inquilino, e incentiva los pagos puntuales de los inquilinos. Tercer paso Garantiza tus ingresos En caso de impago del inquilino, Garantía de Alquiler te respalda con una red de seguridad financiera, apoyo jurídico y protección contra daños. Alquiler, reimaginado Tranquilo, tienes SingleKey Sea cual sea tu situación en el mercado de alquiler, tenemos una solución para quitarte el estrés de alquilar. Para propietarios Para administradores de propiedades Para agentes inmobiliarios Para inquilinos Para propietarios Alquila tu local, sin riesgos Encuentra inquilinos en los que puedes confiar Ayude a los inquilinos a desarrollar su puntaje crediticio Obtenga respaldos financieros y legales en todo momento Aprende más Informe de inquilino Garantía de alquiler Registrate gratis Para administradores de propiedades Llene unidades de forma más rápida y segura Acelere las evaluaciones de inquilinos con el informe más rápido de Canadá Libere tiempo con integraciones API perfectas (¡no más formularios que completar!) Disfrute de ventajas exclusivas para socios y descuentos por volumen Registrate gratis Para agentes inmobiliarios Mantenga su negocio próspero Encuentre inquilinos de confianza para sus clientes Protege a los clientes con respaldos financieros y legales. Disfrute de ventajas exclusivas para socios y descuentos por volumen Registrate gratis Para inquilinos Ser un solicitante destacado Cree un perfil de inquilino digital para cualquier solicitud de alquiler Obtenga pagos depositados automáticamente Construya su puntaje crediticio mientras alquila Registrate gratis Estás en buena compañía Únete a nuestra comunidad en rápido crecimiento. Hoy, servimos con orgullo: 120,000 Propietarios de viviendas 500,000+ Inquilinos 6,500+ Agentes inmobiliarios 650+ Administradores de fincas de empresas Impulsados por las personas y la pasión SingleKey está cambiando la forma de alquilar. Descubre cómo fomentamos mejores relaciones entre propietarios e inquilinos mediante productos bien pensados y creados con un propósito. Como se vio en Llegan las críticas "Esta empresa cambia las reglas del juego". “I used SingleKey for a background check and it has helped me find higher quality, more financially stable tenants. I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “This company is a game-changer. The screening service is fast and comprehensive. The website is well laid out and easy to use. Customer support is... actual customer support. People get back to you. Highly recommended.” Taco van Ieperen SingleKey Rent Guarantee Customer “It is a pleasure to cooperate with you. Thank you for the kindness, professionalism and speed with which you work with clients. A wonderful team, and even more beautiful rental properties.” Brankica Sarcevic SingleKey Rent Guarantee Customer “Very legit. Very professional. Very Canadian! I had a couple of issues at the beginning, but they were addressed quite quickly and properly.  They are a good match to the business of landlording. Have recommended to others in the field." a-a SingleKey Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. The tenant screening tool was particularly useful when evaluating potential tenants as the program allows information to be pulled from various sources. The Rent Guarantee insurance was also very useful. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer “During my experience with the representative at Single Key, I was completely satisfied since everything was explained in detail to me, I fully understood and she answered all my questions. This representative went above and beyond in ensuring that I was quite happy with all resolutions. I'll certainly recommend SingleKey to friends and family. Thank you.” Carlos B SingleKey Rent Guarantee Customer “Professional and easy to use service. Great support along the way.” Timothy Ray SingleKey Rent Guarantee Customer Ver todas las opiniones Empieza a Alquilar Sin Riesgos Hoy Mismo. Alquila más seguro que nunca con SingleKey. Regístrate gratis --- ## EN Pages ### Webinars [Webinars](https://www.singlekey.com/en/webinars/) Date: April 9, 2024 Author: SingleKey Content: Webinars Learn how to solve renting challenges from our panel of experts and discover the latest conversations about the rental market. Want to receive reminders for future webinars? Subscribe to our newsletter to stay up to date. Hosts Share Past Webinars All Topics Rent Guarantee Tenant Report Special Series March 5, 2025 Negotiating with Non-Paying Tenants: Q&A with Alvin Wong from Tenant Landlord Mediation February 12, 2025 Elevate Your Leasing: Pro Tips to Streamline Lease Agreements January 22, 2025 Protect Your Rental Property in 2025: Reference Checks Done Right December 4, 2024 How to Screen Tenants Like a Pro November 20, 2024 How to Protect Your Rental Income: A Rent Guarantee Q&A October 16, 2024 How to Screen Tenants Like a Pro September 18, 2024 Lunch and Learn: How to Protect Your Rental Income August 14, 2024 How to Screen Tenants Like a Pro July 17, 2024 How to Protect Your Rental Income: A Rent Guarantee Q&A June 5, 2024 How to Screen Tenants Like a Pro May 8, 2024 Lunch and Learn: How to Protect Your Rental Income March 27, 2024 Fraud-Proof Your Vacancies:
How to Safeguard Against Tenant Application Scams March 13, 2024 Lunch and Learn: 
How to Protect Your Rental Income January 17, 2024 Protecting Your Rental Income: A Rent Guarantee Q&A December 13, 2023 How to Read a Credit Report and Screen Like a Pro November 14, 2023 How to Protect Your Rental Income: A Rent Guarantee Q&A October 17, 2023 Finding Great Tenants: How to Reada Credit Report and Screen Like a Pro September 13, 2023 Rent Guarantee Q&A August 16, 2023 Rent Guarantee Q&A November 20, 2024 How to Protect Your Rental Income: A Rent Guarantee Q&A September 18, 2024 Lunch and Learn: How to Protect Your Rental Income July 17, 2024 How to Protect Your Rental Income: A Rent Guarantee Q&A May 8, 2024 Lunch and Learn: How to Protect Your Rental Income March 13, 2024 Lunch and Learn: 
How to Protect Your Rental Income January 17, 2024 Protecting Your Rental Income: A Rent Guarantee Q&A November 14, 2023 How to Protect Your Rental Income: A Rent Guarantee Q&A September 13, 2023 Rent Guarantee Q&A August 16, 2023 Rent Guarantee Q&A February 12, 2025 Elevate Your Leasing: Pro Tips to Streamline Lease Agreements January 22, 2025 Protect Your Rental Property in 2025: Reference Checks Done Right December 4, 2024 How to Screen Tenants Like a Pro October 16, 2024 How to Screen Tenants Like a Pro August 14, 2024 How to Screen Tenants Like a Pro June 5, 2024 How to Screen Tenants Like a Pro December 13, 2023 How to Read a Credit Report and Screen Like a Pro October 17, 2023 Finding Great Tenants: How to Reada Credit Report and Screen Like a Pro March 5, 2025 Negotiating with Non-Paying Tenants: Q&A with Alvin Wong from Tenant Landlord Mediation March 27, 2024 Fraud-Proof Your Vacancies:
How to Safeguard Against Tenant Application Scams --- ### Support [Support](https://www.singlekey.com/en/support/) Date: February 6, 2024 Author: SingleKey Content: Looking for a quick answer? Explore our knowledge base for a prompt resolution. Popular Keywords Categories No Record Found View More Results Tenant Screening Credit check, social media & Public record search. Rent Guarantee How to protect your rental income. Rent Collection Rent collection is the process of receiving payment from tenants. Rent Collection Rent collection is the process of receiving payment from tenants. Pre Screen The customizable form includes questions on finances, personal habits, and desired lease terms. Pre Screen The customizable form includes questions on finances, personal habits, and desired lease terms. General Inquiries Manage payment and account verification. Safety & Privacy Security and protection of your information. Quick Help Check out our most popular questions here.Tenant Report FAQsHow to do a new credit check – “Tenant Invite”Tenant Report FAQsHow do I customize the Tenant Screening invite?Rent Guarantee Program FAQsHow do I Start a Rent Guarantee?General SettingsHow do I update my login credentials?Rent Collection FAQsWhat is Rent Collection? See all FAQ Can't find what you're looking for? Get Support Our Customer Success Team is always available by live chat, email, and phone to help you.Support hours are from 8 am to 7 pm EST on weekdays and 10 am to 2 pm EST on Saturdays (closed on Sundays and Holidays). Live chat Our virtual assistant is here to assist you with any questions. Start a conversation using our live chat. Chat with us Email support Our team would be happy to answer your questions by email during our support hours.  Email us Support line Get in touch with us by phone during our weekday and Saturday support hours. Call us More ways to connect Facebook Linkedin Instagram Twitter Youtube --- ### Knowledge Base [Knowledge Base](https://www.singlekey.com/en/knowledge-base/) Date: December 8, 2023 Author: SingleKey Content: SupportKnowledge Base How can we help you today? Please sign in so we may serve you better. Popular Keywords Categories No Record Found View More Results New Support Ticket Popular Articles Tenant Report FAQsHow to order a Report?To order a report, follow these steps: 1. Navigate to https://www.singlekey.com/en-ca/ or https://www.singlekey.com/en-us/ and complete your account set-up. 2. Once your account set-up is complete, navigate to “Tenant Reports”. 3. In the top right corner of the screen, click on “Order New Report”. 4....Wed, 06 Nov, 2024 at 10:02 AMTenant Report FAQsWill this affect my credit score?As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect...Mon, 06 Jan, 2025 at 11:58 AMTenant Report FAQsWhat is the cost of the Tenant Report?The pricing is per credit check and public document scan, and there are no monthly subscription or service fees.  For Canadian reports: For Equifax or TransUnion, the price will be $29.99 per applicant. For Dual Bureau reports it would be...Mon, 26 May, 2025 at 2:15 PMTenant Report FAQsHow do I customize the Tenant Screening invite?You can update your mandatory fields in your Account Settings under Report Preferences.  Select Account Settings from the menu bar at the top right corner under your name. Click Report Preferences Select the information you want to be mandatory Click Save at the bottom  ...Wed, 06 Nov, 2024 at 10:52 AMRent Collection FAQsWhat is Rent Collection?You can streamline your rental income and avoid the hassle of checks and late payments with our Rent Collection tool. It works similar to a Pre-Authorized Debit system, it’s free for the first 3 tenants! You can schedule the start...Fri, 11 Apr, 2025 at 10:52 AMSafety and PrivacyI could be a victim of identity fraud via Singlekey.In the unfortunate event that you might be a victim of identity fraud via our services,  please email us at Info@Singlekey.com or call us at 1-877-978-1404. We will then gather as much information as possible to determine the best of course of action...Tue, 26 Nov, 2024 at 1:48 AMRent Guarantee Program FAQsHow do I Start a Rent Guarantee?Protect your property and secure your Rental Income! Additional Info:– Reviews & Testimonials – Quote – Singlekey.com/rent-guarantee – How to Sign Up for the Rent Guarantee Video  If you would like to learn more about the program, please book a call with one of our...Sun, 17 Nov, 2024 at 11:29 PMTenant Report FAQsHow to do a new credit check – “Tenant Invite”Running a credit check is a vital process for landlords when it comes to screening potential tenants. It provides valuable insights into a tenant’s financial history and helps landlords assess their likelihood of paying rent on time. With SingleKey, you...Wed, 06 Nov, 2024 at 10:32 AMTenant Report FAQsHow long does it take to view the report ?Once the account setup process has been completed, and the potential tenant/landlord has filled out the information and submitted the application, it would take about 5 minutes for the report to be generated. After which you would be able to...Sun, 17 Nov, 2024 at 7:10 PMGeneral SettingsHow do I update my login credentials?You can update your email ID and password by navigating to “Account Settings”. Please select the option”Login and Security” on the left pane.  You can change/update your email ID, and password and enable two-factor authetication as well.   Was this...Mon, 18 Nov, 2024 at 1:37 AM123…18 Our Topics Not finding what you need? Our Customer Success Team is always available by live chat, email, and phone to help you.

 Support hours are from 8 am to 7 pm EST on weekdays and 10 am to 2 pm EST on Saturdays (closed on Sundays and Holidays). Get help --- ### Reviews [Reviews](https://www.singlekey.com/en/reviews/) Date: November 24, 2023 Author: SingleKey Content: Reviews and testimonials We serve thousands of homeowners and tenants every day. Here’s how we’ve helped our community take the risk out of renting. Liked our products and services? We’d love to hear your feedback. Write a review Better Business Bureau Reviews Singlekey has been true to their commitment so far. They cover for missed rent payments and also offer a bunch of nice-to-have services under rent guarantee program. Arijit R SingleKey Customer I used them multiple times to screen my new tenants and applicants. very smooth and easy to use. Hedi R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer I have used SingleKey with a couple prospective tenants and it is really helpful to screen and approve tenants. Their rental guarantee program provides peace of mind against missed rents and tenant damage claims. Many landlords I know also use singlekey and love it. Srishti R SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer SingleKey Rent Guarantee program is a super helpful resource for managing properties and making sure my clients are given options. Any concerns I have are addressed directly with the company and resolved. Hannah has been an excellent and friendly resource over the last year and I look forward to continuing our business relationship. Allysia H SingleKey Customer Excellent Rental Guarantee Services by Single-key I've had an amazing experience with Single-key, thanks to their consistent rental guarantees over the past few years. Their team was professional and responsive, guiding me through a seamless process. The thorough tenant screening and ongoing support provided me with peace of mind as a landlord. Single-key's user-friendly platform made managing guarantees effortless. Meghani A SingleKey Customer 5/5 stars on BBB See all BBB reviews Social Mentions Cody Vieira @cody.vieira Kory MacKinnon @korymackinnon David Elliott @davidelliott_realestate Meghan @meghancfp CondoInvest.ca @condoinvest.ca SingleKey @SingleKeyCom Alex Dunbar @alexrdunbar Isaiah Henry @itsmrhenry Alex Dunbar @alexrdunbar Tyler Oxford @tylerjoxford Isaiah Henry @itsmrhenry Google Reviews “Easy to use website, did credit check on all the applicants. Also signed up for Rent Guarantee, good to have this insurance - especially in Ontario where LTB system is broken and abused by professional tenants. Hannah was very helpful and quick to respond to my queries. Website has user friendly tools like rental application, standard lease agreement that auto populates once you run the credit check.” Atul Wadhwa SingleKey Rent Guarantee Customer “I have been using SingleKey's Rent Guarantee and automatic Rent Collection for almost a year now too. Peace of mind has a price. I haven't made a claim with them, my hope is that I never need to, but if I do, they will honor their Rent Guarantee program.” J Wasney SingleKey Rent Guarantee Customer “Hannah was very helpful and supportive with answering my questions and helping me get myself and my TT sorted out with SJ's services. I’m also signed up for the Rent Guarantee program. SingleKey makes being a landlord a lot less stressful! I can't say enough good things about this company!” Liza Jamani SingleKey Rent Guarantee Customer “As a landlord, SingleKey is a very important tool to have in your arsenal. I had a tenant stop paying his rent and SingleKey immediately refunded me my rent without question. Once this was complete their legal team outlined all potential options for me to secure an eviction order and then handled all the paperwork and court proceedings. I am very pleased with this service and I recommend any landlord big or small to give it a try.” Alex SingleKey Rent Guarantee Customer Great system and the idea behind the existence of SingleKey. Helps out both sides of the aisle - the landlord for protection and (especially their rent guarantee program) and the tenant for building credit. Plus their support staff is responsive and available to answer questions promptly. Aadish G. SingleKey Rent Guarantee Customer I have used SingleKey for background check of my tenants and have always been happy with turnover time & quality of information provided. As a realtor, I always feel comfortable to suggest SingleKey as a tool to my investor clients, with added advantage of Rent Guarantee???? Alok C. SingleKey Rent Guarantee Customer 4.8 stars from 500+ Google Reviews See all reviews Hear From Our Users Relax with Rent Guarantee Hear from real homeowners how Rent Guarantee kept them protected. Book a call Norman Landlord Find the right tenants with SingleKey and clear your path for long-term rentals. Joe Landlord Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee. Raza Landlord Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools. See more reviews Check out what the rest of our community is saying about SingleKey. See reviews See reviews You've seen us in the news --- ### Press Room [Press Room](https://www.singlekey.com/en/press-room/) Date: April 28, 2023 Author: SingleKey Content: Join Our Newsletter Tap into your rental market Get the latest rental trends, homeowner tips, and exclusive offers from SingleKey. Email Subscribe --- ### Podcast [Podcast](https://www.singlekey.com/en/podcast/) Date: March 27, 2023 Author: SingleKey Content: SingleKey Podcast Hosted by MacKenzie Wilson, FOR RENT is SingleKey’s bi-weekly podcast that features conversations with rental industry leaders on the latest real estate trends, tenant tips, and property management strategies to succeed in the rental market. Email ForRent@singlekey.com for all podcast inquiries. --- ### The SingleKey Magazine [The SingleKey Magazine](https://www.singlekey.com/en/ownerkey/) Date: January 18, 2023 Author: SingleKey Content: SingleKey Magazine Expert insights, blogs, and resources to help homeowners navigate property and tenant management successfully Tenant Screening Risk Management Finance Management Tenant Relationships Being a Homeowner Trending articles Our editorial team Rent Increase Guidelines 2023 The Rent Increase Guidebook: Canada 2023 Looking to increase your rent this year? Get our province-by-province summary of everything you need to know as a homeowner in Canada. Tenant Screening View All Tenant Screening Tenant Relationships View All Tenant Relationships Being a homeowner View All Being a homeowner All Categories Announcements Being a homeowner Finance Management Finding Tenants Investments Laws & Regulation Maintenance Product Marketing Renovation Risk Management Tenant Relationships Tenant Screening Uncategorized Keep Learning SingleKey How-To Series View All How-To Series How to: Order a SingleKey Credit and Background Check ReportSingleKey offers one of the fastest and most comprehensive tenant credit and background check reports available in both Canada and the US.To get started, either: Method #1: Click the “Order new report” button, located at the top right corner of the Tenant Report page after you create your account. Method #2: Learn more about the […] Join Our Newsletter Tap into your rental market Get the latest rental trends, homeowner tips, and exclusive offers from SingleKey. Email Subscribe --- ## EN Posts ### What is a Good Credit Score? [What is a Good Credit Score?](https://www.singlekey.com/en/ownerkey/tenant-screening/what-is-a-good-credit-score/) Meta: What is deemed a "good" credit score varies depending on the specific credit scoring model used. But you can use a specific range as a guideline. Date: June 17, 2025 Author: Mark Gregorski Content: Credit scores are one of the main factors that landlords consider when screening potential renters. The reason is simple: a good credit score indicates the applicant has a solid track record of paying their debts on time. That means they're likely to keep with their rent, which is the most crucial quality for a tenant. But what's considered a "good" credit score, anyway? What number should you look for when screening potential tenants to minimize the risk of non-payment of rent? In this article, we'll discuss the factors determining a person's credit score, how credit score ranges work, and what scores are considered acceptable.What is a credit score?A credit score is a three-digit number that measures an individual's creditworthiness. In other words, it indicates how likely they are to repay borrowed money or pay their bills on time. The higher the credit score, the more financially stable and reliable the individual. A high credit score suggests the applicant has a history of paying bills on time and managing their debt responsibly. On the other hand, a low credit score suggests problems with money management, which may include a history of late payments or defaults.Timely rent payments are the lifeblood of your rental business, so you want to pay attention to a potential tenant's credit score during the screening process. It can help you assess their ability to pay rent on time. The last thing you want is to give the keys to a tenant who is at risk of falling behind on payments. You could find yourself frantically chasing them for past-due rent and, in the worst-case scenario, go through a grueling and costly eviction.Understanding credit score rangesThe higher a tenant's credit score, the more likely they are to pay their bills on time, including rent. That's the general rule you need to know when assessing credit scores. But how do you draw the line between a good score and a bad one? The answer is you must understand credit score ranges and what they mean.Credit scores typically range from 300 to 900, depending on the scoring model used. Within that range, there are various categories of scores, which can help you quickly determine a person's overall credit health. Generally, these categories are the following: poor, fair, good, very good, and excellent.Credit bureaus, such as Equifax and TransUnion, use various models to calculate individual credit scores, which means the definition of acceptable credit score will vary. As a result, there is no universal standard for a "good" credit score, a "bad" credit score, etc. However, a score between 640 and 699 is considered good under most scoring models. You can use this range as a benchmark when reviewing potential tenants. Of course, be sure to make strategic adjustments as needed based on your risk tolerance and external factors like the state of the economy. For example, in a recession, tenants often experience more financial challenges, so the optimal range for a good credit score will drop. In this case, it makes sense to lower your expectations and accept applicants with lower scores.To help you become familiar with credit score ranges, we've provided an overview of three common credit scoring systems below.Equifax Risk Score (ERS) 2.0The Equifax Risk Score (ERS) 2.0 is a credit scoring system developed by Equifax Canada. It predicts the risk of a customer or borrower falling 90 days or more behind their payment deadline.The credit score range for this model is between 300 and 900. Here's how each score is classified:Excellent: 741-900Very good: 713-740Good: 660-712Fair: 575-659Poor: 300-574FICO Score 8The Fair Isaac Corporation created FICO scores, a series of credit scoring models used by over 90% of the top lenders. A FICO score is calculated using information compiled by Equifax, TransUnion, and Experian, North America's three major credit bureaus.The credit score range for FICO Score 8 (the most widely used version) runs from 300 to 850. Here's a breakdown of each range and what it means for individuals' credit standing:Exceptional: 800-850Very good: 740-799Good: 670-739Fair: 580-669Poor: 300-580TransUnion VantageScore 3.0TransUnion relies primarily on VantageScore models to assess an individual's creditworthiness. Several versions exist, one of which is the 3.0 model, developed by VantageScore Solutions in 2013. Under the VantageScore 3.0 model, credit scores range from 300 and 850. Here's what each score means based on the category it falls into:Excellent: 781-850Good: 661-780Fair: 601-660Poor: 300-600How is a credit score calculated?Credit bureaus like Equifax and TransUnion create credit scores by collecting financial information provided by lenders and creditors. In turn, they feed that data into a scoring model, such as FICO Score 8, to produce a credit score. Below are the five primary factors that influence a person's credit score.Payment history. Payment history has the most significant impact on an individual's credit score, usually accounting for 35% to 40% of the overall score. This factor assesses how well they meet their payment deadlines, considering on-time payments, late payments, and accounts written off or sent to collections.Credit utilization. This factor measures the amount of available credit an individual uses on their credit cards and lines of credit. Next to payment history, credit utilization has the most significant impact on a credit score, accounting for 20% to 30% of the overall score. The lower the credit utilization rate, the better, as it indicates a lower reliance on debt. Equifax and TransUnion recommend keeping credit usage under 30% to maintain a healthy credit score. Length of credit history. Credit history length measures how long an individual has maintained credit accounts, including credit cards, mortgages, and student loans. This factor considers the youngest, oldest, and average age of debt, and accounts for 15% to 20% of an individual's credit score. Credit history matters because experience generally makes one better at managing debt, especially when it comes to making on-time payments.Credit mix. Credit mix examines the different types of debt an individual has been responsible for paying. Most scoring systems assign a higher value to individuals who have experience managing a diverse range of debts, including mortgages, car loans, credit cards, and lines of credit. Credit mix accounts for approximately 10% of an individual's credit score.New Credit. Most credit scoring models place some emphasis on recent credit accounts opened, which trigger hard inquiries from lenders. A hard inquiry occurs when a lender pulls an individual's credit report to determine whether to approve them for a loan. According to Experian, each credit inquiry decreases a credit score by approximately five points for a brief period. Too many hard checks over a short period may signal desperation for money or a lack of financing options, which isn't a good sign. New credit makes up about 10% of an applicant's credit score.Our final thoughtsCredit scores are valuable tools for assessing a tenant's risk of defaulting on rent payments. The higher the score, the more likely they are to make timely payments, which is the most important characteristic you want in a tenant. Generally, a good credit score ranges from 640 to 699 on most credit scoring models. You can use this range as your guideline when evaluating applicants. Make adjustments as needed based on your risk tolerance, market conditions, and other relevant factors.While a credit score can tell you much about a tenant's ability to manage rent payments, it doesn't tell the whole story about their financial health. Sometimes, a renter with a poor credit score may still be a viable candidate or vice versa. When screening a potential tenant, ensure you review their credit report—don't rely solely on their credit score. Check out our guide on interpreting a credit report to learn more. --- ### Hard vs. Soft Credit Checks: What’s The Difference and Why It Matters [Hard vs. Soft Credit Checks: What’s The Difference and Why It Matters](https://www.singlekey.com/en/ownerkey/tenant-screening/hard-vs-soft-credit-checks-whats-the-difference-and-why-it-matters/) Meta: A hard credit check differs from a soft credit check in several ways, including the impact on your credit score. Here's what you need to know as a renter. Date: June 10, 2025 Author: Mark Gregorski Content: If you're a renter, a landlord will likely pull your credit report before approving you for a lease. That's because most landlords examine your credit history as part of the tenant screening process. It's a way for them to assess the risk that you'll fail to pay rent on time.There are two types of credit checks: hard credit checks and soft credit checks. Both have different implications for your credit score, particularly in the context of rental applications, so it's helpful to understand how they each work. In this article, we'll break down the differences between a hard vs soft credit check and how each impacts your credit health.What is a hard credit check?A hard credit check occurs when an individual or company reviews your credit report as part of its loan application process. Hard credit checks, also known as hard pulls or hard inquiries, are typically performed to determine whether you qualify for a loan.You can expect to undergo a hard credit check when applying for most loans: credit card, line of credit, car loan, mortgage, etc. A hard check is integral to the loan application process—you won’t get to borrow money without it.Each hard credit check you incur is recorded on your credit report and negatively impacts your credit score. How much will your score drop? There's no clear-cut answer, as each person's credit situation is unique. But if you have a high score, the effect of a hard inquiry will be negligible, most likely—it might shave off five points or less. However, multiple hard checks over a short period can exert considerable downward pressure on your score.Hard credit checks stay on an Equifax credit report for up to three years and up to six years on a TransUnion credit report. Because of the adverse influence on your credit history, someone wishing to do a hard pull on your report must obtain your consent.What is a soft credit check?A soft credit check happens when someone reviews your credit report to prequalify you for a loan or other service. Unlike a hard inquiry, it's not part of the decision-making process that determines whether you get approved. Instead, a soft check is more like a brief evaluation to see if you meet specific criteria to apply in the first place.Soft credit checks are less intrusive than hard checks, offering lenders and other authorized users only surface-level information about your borrowing history. Here are examples of instances when you may encounter one:Credit limit increase. Your credit card provider routinely conducts soft checks to decide whether to offer you a credit limit increase.Pre-qualification for a mortgage. Mortgage pre-qualification allows you to estimate how much you could borrow to finance your home. Getting prequalified always involves a soft check, while a pre-approval requires a hard check.Employer background check. A potential employer may want to check if your finances are in good shape to assess your trustworthiness and responsibility. This is common for roles that involve handling money or safeguarding sensitive information. Soft credit checks have no impact on your credit score. While they get recorded in your credit report, they are visible only to you. Lenders and other authorized users, such as employers and landlords, will never see them when reviewing your credit history. As a result, you never have to worry about third parties constantly pulling your report—your credit score will remain intact.Since soft credit checks disclose little financial information and play no direct role in the application process, lenders and other legitimate users don't require your permission to conduct one.Rental credit checks and credit reportsApplying to be a tenant usually involves passing a credit check. This makes sense, as landlords want to see evidence that you're financially capable of paying rent on time.Unfortunately, these rental credit checks would be recorded as hard inquiries, which could hurt your credit score. The negative impact could be significant if you incur a slew of them over a short period, which is possible when applying to multiple rentals. However:As the rental applicant, you'll still be able to see the hard inquiry when viewing your credit report online in your Equifax or TransUnion account. But no one else will, including landlords. Given these positive changes, you can freely apply to as many rentals as you wish without any repercussions to your credit score.Benefits of the change in rental credit checks for rentersHere’s why the change in the treatment of rental credit checks benefits you as a renter:Credit score stays safe. You never have to stress about your credit score suffering each time you apply for a new place, even if your credit report is pulled multiple times in one day.No penalty for exploring options. You can search far and wide for your next rental property without worrying about damaging your credit. With the anxiety and dread gone, it's easier to devote more time and energy to finding the perfect leasing opportunity.Confidence in applying. You can apply for tenancy at rentals at ease, knowing that rental credit checks won't negatively impact your credit score.More room for loan applications. Since rental credit checks no longer affect your credit score, you have more leeway to shop around for loans. The combined adverse effect of loan and rental applications will be less severe since the latter doesn't count as a hard inquiry.Faster credit score improvement. With rental credit checks no longer hindering your progress, building up your credit score will take less time and effort, especially if your landlord reports rent payments to the credit bureaus.Our final thoughtsWhen someone pulls your credit report, the inquiry counts as either a hard or soft check, depending on the purpose of the review. A hard credit check is logged in your credit report for several years and harms your credit score. In contrast, a soft credit check does not impact your score and is visible only to you.Credit checks are done primarily by lenders to decide whether to approve you for a loan. But landlords also rely on them to determine if you're financially stable enough to handle rent payments. The good news is that Equifax and TransUnion now treat rental credit checks as soft inquiries. As a result, you can apply to be a tenant at rental properties as often as you like without damaging your credit.For more tips on how to boost your credit score, check out our article on how tenants can improve their credit scores. --- ### What is Rent Guarantee Insurance? [What is Rent Guarantee Insurance?](https://www.singlekey.com/en/rent-guarantee/what-is-rent-guarantee-insurance/) Meta: Rent Guarantee insurance protects landlords against lost rental income and other financial losses. Learn how it works and whether it's right for you. Date: June 3, 2025 Author: Mark Gregorski Content: Being a landlord can be lucrative and rewarding, but it’s not without risk. One of the biggest perils of owning and managing a rental property is the tenant failing to pay rent on time. Without steady rent payments, you won’t have the funds to cover your rental mortgage, utilities, property taxes, and other ongoing expenses. In short, you could find yourself in financial trouble fast.Rent guarantee insurance can help you avoid this catastrophic risk. It safeguards your rental income, ensuring it continues uninterrupted even when your tenant stops paying rent. In this article, we’ll explain rent guarantee insurance, how it works, and what type of coverage it offers landlords.What is rent guarantee insurance?Rent guarantee insurance compensates landlords for lost income when tenants fail to pay their rent. The rent guarantee insurance provider covers the monthly rent for a specific period until the tenant resumes making payments or a replacement tenant takes their place.No matter how meticulous you are in screening tenants for financial stability, situations can arise where they start paying late or default altogether. Tenants can stop paying rent for many reasons:They lose their job during an economic downturn.They go through a lengthy and costly divorceThey have to pay for unexpected medical billsTheir bank account gets frozenIn such situations, rent payments will take a back seat to a tenant's other financial commitments. And if that happens, your profit can dwindle fast, putting you in a difficult spot. Rent guarantee insurance was created exactly for this reason—to protect you from massive financial losses due to non-payment of rent from your tenants.What does rent guarantee insurance cover?The primary role of rent guarantee insurance is to reimburse you for lost income if your tenant defaults or falls behind on their rent. Your rent guarantee provider will cover missed rent for a limited time, typically 6 to 12 months. The coverage ends once your tenant resumes paying rent or you evict them and sign a lease with a new tenant. The amount of lost rental income you're entitled to varies based on your policy and rent guarantee provider.Most rent guarantee policies will also compensate you for legal expenses you incur in evicting a non-paying tenant. These include court, bailiff, and paralegal fees up to a specific dollar amount.Some rent guarantee products offer additional coverage for other perils, typically property damage caused by the tenant. This extra coverage can prove valuable, as the tenant's security deposit may be insufficient to cover the cost of repairs.How does rent guarantee insurance work?To access rent guarantee insurance, you must first purchase a policy from a company that offers this type of product. Here are the most common places where you can sign up for one:Lease guarantor companies. These firms specialize in lease guarantee services for landlords and property owners.Insurance companies. Traditional insurance companies and brokers may include rent guarantee policies as part of their suite of products.Property technology companies. These technology firms operate in the real estate industry, offering a range of products and services, including property management software and tenant screening.The cost of a rent guarantee ranges from 5% to 7% of your monthly rent fee. Some companies offer discounts if you pay the entire annual premium upfront. Factors that impact the cost of your rent guarantee policy may include the lease length, deductible amount, property type, coverage limits, and your tenant's credit score.Once you've purchased your policy, the issuing company will verify your tenant's information before you're eligible for coverage. It won't approve someone with a history of loan defaults or a lack of stable income. In cases where the tenant poses a higher credit risk, the company may require a guarantor to sign the lease as an additional layer of security.As a result of these eligibility criteria, be prepared to submit your tenant's credit report and proof of income, such as a T4 or pay stub. The rent guarantee firm wants to see that you've performed your due diligence in screening tenants.Once you secure approval for the rent guarantee, you'll be responsible for paying the monthly or annual premium. Typically, your coverage will take effect one month after your enrollment. However, some companies may offer immediate coverage for a higher fee.After the waiting period, you can file claims for lost rent as needed. If the claim is valid following an investigation by your rent guarantee provider, you'll receive compensation as outlined in the terms of your policy. Depending on these terms, you may have to pay a deductible before a payout is issued.Deciding whether rent guarantee insurance is right for youIs rent guarantee insurance worth getting, or is it just another overhyped product you should avoid? That answer is, "it depends." When deciding whether to buy this type of coverage, consider the following factors:Experience as a landlordAre you brand new to the rental industry or a seasoned professional? That's the first question you should ask yourself when deciding whether you need rent guarantee insurance. If you fall into the former camp, obtaining this coverage is a wise move. If you fall into the latter, it's less necessary but still something nice to have.Why? The reason is that, as a budding landlord, you lack experience in managing a rental property. As a result, you're more likely to make mistakes in managing your rental. In this industry, mistakes can result in massive financial losses, which you may not be prepared to pay. These Ottawa-based landlords discovered this the hard way when they invited the wrong tenants to live on their property.Eviction timeline in your jurisdictionAfter considering your experience as a landlord, take into account the eviction laws in your jurisdiction. How long, on average, does it take to remove a delinquent tenant from a rental property? The answer will help you estimate the cost of evicting a tenant who fails to pay rent, damages your property, or breaches other aspects of the lease. In general, the longer an eviction takes to execute, the more valuable a rent guarantee insurance policy. For example, let's say it takes up to six months to complete the eviction process to remove a non-paying tenant. Can you afford to lose six months' rent plus the fees associated with the eviction? Can you cover the cost of your rental mortgage and other expenses during this period? If the answer is no, getting rent guarantee coverage is worthwhile. Risk toleranceIf the thought of your rental income grinding to a halt overnight makes you feel uneasy, getting rent guarantee insurance is wise. The cost will more than offset the anxiety that comes with the ever-present risk of lost rental income. You can avoid the hassle of dealing with past-due rent, including the fierce arguments and costly evictions that may ensue. The rent guarantee will act as your financial safety net, ensuring you continue to collect rent each month.Reliance on rental incomeThe more you financially rely on your rental income, the more advantageous it is to purchase rent guarantee insurance. For example, if you have a mortgage on your rental, steady rent payments aren't simply a luxury - they're vital for staying in business. Should your tenant unexpectedly stop paying rent, you'll quickly fall behind on your mortgage payments, leading to your lender foreclosing on your property.You may also rely on your rental income to cover other business expenses, such as taxes, ongoing operating expenses, or renovation projects. Or it may be the primary source of income that fuels your retirement. Regardless, you could face financial hardship if your tenant fails to pay rent on time. Rent guarantee insurance will help you stay afloat.Number of rental units ownedRent guarantee insurance may or may not be worth obtaining, depending on the size of your rental property business. If you own an extensive, diversified portfolio of properties, you face less financial risk. Why? Because one non-paying tenant won't put a significant dent in your profit since you're collecting rent from your other units. In this scenario, rent guarantee insurance makes less sense. However, let's assume that you own a single rental property. In this case, your rental income stream shuts down entirely if your tenant ceases to pay rent. Rent guarantee insurance would be valuable since you don't have any other rental properties contributing to your bottom line.Rental property valueThe impact of lost rent is more painful if you manage an upscale rental property. Just one missed payment can lead to financial difficulty, given the high cost of the property's mortgage, upkeep, and other expenses. Rent guarantee insurance will provide much-needed financial relief in this situation.Our final thoughtsTenants who fail to pay rent on time pose one of the greatest risks for landlords. Rent guarantee insurance helps manage this risk by acting as a safety net when rent payments stop. It provides financial compensation for lost rental income, eviction expenses, and, in some cases, property damage inflicted by tenants.Rent guarantee insurance is a relatively new risk management product in North America. However, it's growing in popularity—and so are the number of companies offering it. For example, SingleKey's Rent Guarantee Program provides landlords with coverage for missed rent payments, legal expenses, and property damage. Learn more by comparing rent guarantee programs in the United States and rent guarantee programs in Canada.  --- ### Rent Guarantee Demand: What It Is and the Most Common Types [Rent Guarantee Demand: What It Is and the Most Common Types](https://www.singlekey.com/en/rent-guarantee/rent-guarantee-demand-what-it-is-and-the-most-common-types/) Meta: A demand is a key component of SingleKey's Rent Guarantee Program. This guide explores what it is, why it's important, and the most common types. Date: June 3, 2025 Author: Mark Gregorski Content: Running a rental property can be a lucrative way to earn a steady income — but only if your tenant pays rent on time. Tenants who default on their rent payments are the most significant risk you face as a landlord. It can cost you thousands of dollars in lost revenue, eviction fees, and other costs.In this article, we'll examine tenant defaults and other risks that landlords face in the rental market today using data from our Rent Guarantee Program. We'll also show you how the Rent Guarantee Program protects your rental business against these risks, giving you peace of mind and financial security.What is a Rent Guarantee demand?SingleKey's Rent Guarantee Program is a service designed to protect landlords against the financial risks of renting out their properties. It compensates you for lost rental income due to tenant defaults, property damage, and legal fees for evicting a non-paying tenant. It also provides you with a paralegal team to assist you through the eviction process, if necessary.If your tenant stops paying their rent, you must submit a demand to SingleKey. A demand is a request for reimbursement under the Rent Guarantee Program. Under this process, you explain the key details surrounding the tenant default, which SingleKey will review. Once we approve your demand, you're entitled to financial compensation through the Rent Guarantee Program.Submitting a demand to SingleKey is fast and easy—you can complete the whole process online in a few minutes. Learn more about raising a demand with SingleKey.Common types of Rent Guarantee demandsNow that you understand what demand is, let's examine some of the most common types that landlords enrolled in the Rent Guarantee Program submit to us. This will give you an idea of the most likely risks you may encounter while running a rental property. The statistics in the table below are as of July 2024.The most common demand is a rent payment default, accounting for 50% of submissions we receive. A rent default occurs when your tenant stops paying their rent or falls behind on their payments. Under the Rent Guarantee Program, SingleKey covers up to 12 months of lost rent (up to a maximum of $60,000).The second most common demand is a lease break, making up 40% of total submissions. A lease break occurs when your tenant leaves your rental property without giving you proper notice. The notice period required for tenants varies depending on your property's location, but it's usually between 30 and 60 days. SingleKey provides rent coverage for up to 30 days in the event your tenant abandons your rental without notice.Property damage accounts for 10% of the demands we receive from landlords. Under the Rent Guarantee Program, "property damage" refers to "unpaid court-ordered malicious tenant damages." In other words, your tenant willingly vandalized your rental and is legally responsible for the repair costs but hasn't paid you. The Rent Guarantee Program offers up to $10,000 in property damage protection.Common reasons for tenant non-payment of rentFinancial hardship or job loss is the primary reason tenants fail to pay their rent on time, making up 50% of the total Rent Guarantee demands we receive. This statistic isn't surprising, as rent is usually a tenant's largest expense. If most of their income goes toward rent, all it takes is one financial setback for them to stay caught up on payments. That's why, as a landlord, it's crucial to measure a tenant's rent-to-income ratio—the higher it is, the greater the risk of default.The second most prevalent reason for non-payment of rent stems from tenants who intentionally withhold payments. It accounts for 30% of rent defaults. This situation frustrates landlords since the tenant has the means to pay but refuses to do so. A thorough tenant screening process can help weed out such individuals, but not always. Some will slip through the cracks, as it's impossible to predict with 100% accuracy how a tenant will behave once they move in.A breakup or divorce is the third most common reason tenants fail to pay their rent, appearing in 20% of Rent Guarantee demands. In such cases, a couple rents out a home, and their combined income is sufficient to cover the monthly rent. However, when the relationship breaks down, one party often leaves the property, leaving the other to struggle with paying the rent on their own.While tenants can default on their rent for many reasons, it's essential to understand that it can happen at any time. Your tenant can stop sending you money after a couple of months of moving in or after five years. That's why it's vital to have a plan in place that allows you to weather these financial losses, should they occur.Evictions overviewSome demands under the Rent Guarantee Program result in the landlord having to evict their tenant. While we equip landlords with various tools and resources to help avoid this situation as much as possible, eviction may sometimes be necessary to address a delinquent tenant.The average time for landlords to get an eviction hearing is 6 to 8 months. As of July 2024, 22 evictions are in progress through our Rent Guarantee Program, with most located in the following cities: Welland/Fort Erie, Chatham/London, Barrie, Surrey, and Edmonton.SingleKey's Rent Guarantee demands by the numbersThe average Rent Guarantee demand for 2024 is $26,000. This amount consists primarily of lost rental income and legal fees. Our highest demand in 2024 so far was $39,000, consisting of 12 months of lost rent, court fees, and sheriff fees to remove the tenant from the property.These numbers highlight the financial risk landlords assume when renting out their properties. When your tenant stops paying rent, your losses can add up quickly, especially if you have to endure a lengthy eviction before finding a replacement tenant.Luckily, 95% of SingleKey's Rent Guarantee demands get approved within two weeks! This can bring you tremendous peace of mind if you're concerned about the financial security of your rental business.Our final thoughtsWhen it comes to the pitfalls of renting out a property, few are worse than a tenant who suddenly stops paying rent. Losses stemming from lost rental income can be substantial. Add court fees and property damage, and you could face tens of thousands of dollars in out-of-pocket expenses.There's no way to foresee any of these scenarios in advance—you can only do your best to prepare for them. Enrolling in the Rent Guarantee Program allows you to do exactly that. Should your tenant default on their rent or damage your property, SingleKey will review your demand and compensate you for your loss, relieving you of the massive financial stress you'd otherwise face. Learn more about how to protect your rental income with the Rent Guarantee. --- ### How the Tenant Guarantor Program Reduces Risks for Landlords [How the Tenant Guarantor Program Reduces Risks for Landlords](https://www.singlekey.com/en/rent-guarantee/how-the-tenant-guarantor-program-reduces-risks-for-landlords/) Meta: While geared toward tenants, SingleKey's Tenant Guarantor Program also benefits landlords, offering protection against lost income and other losses. Date: May 27, 2025 Author: Mark Gregorski Content: Renting out a property is a great way to generate extra income and grow wealth through capital appreciation. But it also comes with risks. Missed rent payments, drawn-out evictions, and costly property damage can turn your investment into a financial nightmare. As a landlord, you're not fully immune to these risks, no matter how diligent you are with screening tenants.However, you can safeguard against these uncertainties with the help of SingleKey's Tenant Guarantor Program. This program acts as a financial safety net, covering potential losses you may suffer when renting out your property. In this guide, we'll break down how the Tenant Guarantor works and how approving a tenant enrolled in the program can protect your rental property—and your bottom line.What is the Tenant Guarantor Program?The Tenant Guarantor Program helps landlords offset the financial risks they face when renting their property. It acts as a safety net, guaranteeing rent payments and covering other potential losses if a tenant doesn't meet their financial commitments under a lease.Here's how it works: When a tenant applies and gets approved for the Tenant Guarantor Program, SingleKey acts as their lease guarantor. That means we legally take on the responsibility of paying the rent if your tenant pays late—or stops paying altogether. We also reimburse you for other losses you may incur when renting out your property.Here's a breakdown of what the program covers:Guaranteed rent payments: If your tenant misses a rent payment, SingleKey ensures you still get paid on time. Your rent is guaranteed for up to 12 months and up to $60,000.Property damage protection: You're entitled to receive up to $10,000 to cover property damage caused by your tenantLegal fee coverage: If you decide to evict your tenant, SingleKey will reimburse you for up to $2,000 in legal fees. You'll also have access to a paralegal team to guide you through your case.As a result of these benefits, you can confidently rent your property to tenants you would otherwise reject due to being a higher risk. These include students, young professionals, self-employed individuals, newcomers to Canada, and anyone with a limited credit history.To qualify for the Tenant Guarantor Program, a tenant must:Confirm their identity using government-issued IDEarn a sufficient income (rent-to-income ratio must not exceed 50%) or have enough savings to cover rent and living expenses for up to one yearHave a rent-to-income ratio not exceeding 50%Provide proof of income or savings (students attending a post-secondary institution can provide evidence of enrollment, and newcomers to Canada can provide a work or study permit)Pay one month's rent and a $200 refundable depositHow Tenant Guarantor protects landlords from common risksThe Tenant Guarantor Program is geared toward tenants. But it's also a valuable tool for landlords to reduce the risks that come with renting out a property. Here's how.Non-payment of rentMissed rent payments can cause immense financial strain for your rental business. A steady cash flow is necessary to pay for your property's expenses, such as the mortgage, repairs, and insurance. Once it stops, you'll have to cover these costs personally. Unfortunately, coaxing your tenant to send payment isn't always as easy as sending a friendly reminder via text. A financial setback may prevent them from issuing a cheque, or they may refuse to pay. There's not much you can do to resolve the issue aside from taking legal action against your tenant. But that can take time—and drain more money from your bank account.How Tenant Guarantor helps: As a landlord, you don't have to worry about chasing down tenants for past-due rent or scrambling to cover your expenses out of pocket. SingleKey will cover the shortfall if your tenant fails to pay their rent. Regardless of your tenant's predicament, you'll get paid on time, letting you continue business as usual..Costly evictionsEvictions are sometimes necessary to deal with troublesome tenants, especially those who fail to pay rent. However, given the financial and emotional toll they can exact, you should use them only as a last resort. The process isn't as simple as ordering your tenant to leave the property and changing the door locks. You must follow a strict procedure, which includes issuing the tenant a written warning, filing legal paperwork, and attending a court hearing.While the eviction process unfolds, your rental generates no income. And the more pushback and hostility you face from your tenant, the longer the process will drag on, leading to mounting expenses and sleepless nights. Evictions can come with a hefty price tag, sometimes costing thousands of dollars in court fees and legal aid. Depending on the backlog of cases in your region, they can also take months to resolve, sometimes up to a year.How Tenant Guarantor helps: If you decide to evict a non-paying tenant, SingleKey will help cover the legal costs of the eviction proceedings, ensuring you don't foot the entire bill. And you won't have to fight the battle alone, either—we will connect you with experienced paralegals to assist you from beginning to end. Property damageWhether due to neglect, malicious intent, or purely by accident, tenants can cause severe damage to your rental. Broken windows, battered appliances, holes in walls, stained carpets, and jammed garbage disposals are some of the issues you may face. The necessary repairs or replacements can cost a bundle, cutting into your profit and delaying the time it takes to make the property move-in ready again.While you can use the security deposit to pay for the costs, it may barely scratch the surface of the repair bills, leaving you stuck paying the shortfall. Yes, you can sue your tenant for the damage—but there's no guarantee they will reimburse you for the money you spent restoring your property.How Tenant Guarantor helps: Suppose a tenant causes excessive harm to your property and fails to cover the cost of repairs, even after being ordered by the court to do so. In that case, you'll receive compensation of up to $10,000, sparing you from footing the bill alone.Why landlords trust the Tenant Guarantor ProgramBuilt-in financial protection. Forget agonizing over sudden losses due to missed rent payments. Your rent is guaranteed when your tenant fails to pay, ensuring no disruption in your rental income.Property damage protection. Fixing up your rental after its extensive damage can erode your profit quickly. And the longer it takes to make your property livable again, the more you stand to lose. With tenant-caused damages reimbursed, your rental absorbs a smaller financial hit, if any, helping you stay profitable.Less stress and faster resolutions to tenant conflicts. Legal assistance from qualified paralegals helps streamline the eviction process. Filling out paperwork, presenting your case, and enforcing the eviction becomes straightforward, eliminating undue stress and delays.Better chance of securing a financially reliable tenant. Tenants who qualify for the Tenant Guarantor must demonstrate the ability to pay rent on time. This requirement provides an extra layer of protection, greatly minimizing the risk of financial losses that come with renting out a property.Our final thoughtsManaging a rental property has its share of financial risks, notably tenants who suddenly stop paying rent. The Tenant Guarantor Program safeguards you against these pitfalls, allowing you to rent out your property with confidence. Signing a lease with a tenant enrolled in the program is a no-brainer: your rental income is secure, your eviction legal fees are covered, and your property is protected from damage.Learn more about our Tenant Guarantor Program and how it can help you stay profitable as a landlord. --- ### What Is a Guarantor on a Lease? [What Is a Guarantor on a Lease?](https://www.singlekey.com/en/rent-guarantee/what-is-a-guarantor-on-a-lease/) Meta: Learn about the role of a lease guarantor and when you may need one to get approved as a tenant for your ideal rental property Date: May 23, 2025 Author: Mark Gregorski Content: Are you on the hunt for a rental property but lack a strong credit history or reliable income? Or you may be a first-time renter with no experience managing rent payments and lack glowing references from past landlords. If so, you could face obstacles in getting approved for a lease. However, with a lease guarantor on your side, landlords who would otherwise reject your application may give you the green light. In this guide, we'll explain the role of a lease guarantor and how adding them to your lease can improve your chances of getting the keys to a rental. What it means to be a lease guarantor A lease guarantor is a person who agrees to take on the legal responsibility of paying rent when the tenant is unable to do so. Essentially, they act as a backup for the landlord, promising to cover the monthly rent and other fees under the lease agreement. They may also be liable for costs resulting from property damage that exceeds the security deposit. A guarantor on a lease is also called a rent guarantor.   When would a guarantor be needed on a lease? Why would a landlord ask you, as the tenant, to find someone to be your guarantor? The reason is that you fail to meet one or more crucial requirements as part of the screening process, which increases the landlord's risk of unpaid rent. For landlords, lost rent payments are the primary concern when they invite a tenant to live in their rental—and bringing a guarantor on board is one way they can offset that risk. Here are some situations where you may need to enlist the help of a guarantor to secure a lease: Lack of established credit or a poor credit score. Landlords prefer renting to tenants who are capable of paying rent on time, so having a healthy credit score and a positive credit history are key to getting your application approved. Minimal work experience or gaps in employment history. If you have a sparse employment history or frequently switch jobs, landlords may be concerned about you having enough income to rent on time. No rental history. Having no experience renting a property may prevent you from securing a lease, as a landlord won't have any way to assess how you'll behave once you become their tenant. Negative past landlord or employment references. Have a rental history riddled with scathing references from past landlords or employers? If so, adding a guarantor to your lease agreement may convince landlords to take a chance on you. Insufficient income. An inadequate or erratic income is a huge red flag for landlords, as the last thing they want is a tenant who's constantly on the brink of default. If your rent-to-income ratio is too high, you can expect landlords to request a guarantor. Who can be a guarantor on a lease? So, what qualities must a person have to act as a guarantor? In short, they must be able to fill the gaps in your lease application. Here are some criteria you're likely to find on a landlord's wish list: Strong credit history. A high credit score signals to landlords that the individual can comfortably manage debts, including making on-time payments. Ensure that anyone you invite to be your guardian has a credit score between 650 to 750 (the higher the better, of course). Stable income. A steady income ensures the guarantor has enough money to cover missed rent payments. As a rule of thumb, look for someone who earns 80 to 100 times your monthly rent, which should be high enough to appease most landlords. Verifiable employment. As with regular tenants, landlords expect guarantors to prove their income. The guarantor should be comfortable submitting documents and information such as their pay stubs, tax returns, and bank statements. Residency status. Communicating, rent collection, and dispute resolution can be tricky if the guarantor lives in another country, so many landlords demand that they live in the same jurisdiction as the rental unit and tenant. Documents that can serve as proof of residency include a passport, birth certificate, driver's license, academic records, and property tax bills. Clean legal record. A guarantor with a criminal record or other negative background details could risk landlords' ability to collect unpaid rent when needed. Age and legal capacity. The individual should be of legal age in the province or state where they live and allowed to enter lease agreements freely. Understand the rules in your jurisdiction to ensure they can lawfully act as your guarantor. Willingness to sign a legally binding agreement. The guarantor must be prepared to sign the lease agreement, promising to cover any late rent or other fees required under the terms. They must agree to carry out their financial obligations as necessary and understand that they face legal repercussions if they cannot or refuse to do so. What’s the difference between a co-signer and a guarantor When you co-sign a lease with someone, you share equal responsibility with them for the rent. If you miss your portion of the rent, the landlord can legally ask your co-signer to cover the shortfall and vice versa. The co-signer also has the right to live on the property as a tenant.  On the flip side, the guarantor only applies their signature on the lease as the financial backer instead of a tenant. That means they cannot live in the property with you. In addition, they assume legal liability for the rent payments only when you default. In other words, your landlord cannot ask the guarantor for payment when you have the financial means to cover it personally. How to find a lease guarantor Think you might need a guarantor to secure approval for your dream rental unit? Here’s who you can turn to: Family members. A family member, whether a parent, sibling, or relative, is the most common choice for a guarantor, as they're more likely to be willing to support you. Ensure you and the individual acting as your guarantor know what the arrangement entails regarding obligations and risks. For example, if your family member doesn't follow should you default, they may face legal action by the landlord. Their credit scores will suffer as well. Close friends. Friends with whom you've known for a long time and have a stable relationship are good options for a guarantor. As with family, ensure the two of you fully understand the agreement, including the risks involved. For example, if you fail to pay your rent, you risk causing financial hardship for them, potentially souring the relationship.   Lease guarantee companies. Suppose your inner social circle and family aren't an option. In that case, you can seek help from companies that offer guarantor services to renters. For a monthly fee, these third-party guarantors will cover your rent for a predetermined period if you default. To qualify, you must demonstrate that you earn sufficient income or at least a cushy savings account. Our final thoughts Landlords have many requirements they look for in a tenant, such as a stable job, sufficient income, and high credit score. However, you may not satisfy all of them, which can make your quest in finding a rental challenging and overwhelming. A guarantor can help fill these gaps by covering or "guaranteeing" your rent payments should you default. Since non-payment of rent is the most dreaded scenario for landlords, you're more likely to get approved for a lease by offering this extra financial security. But finding a guarantor isn't a viable option for every renter. If that's the case for you, a third-party rent guarantor can serve the role, giving you the financial backing you need to get noticed by landlords. Learn how SingleKey's Tenant Guarantor can help make your rental application stand and get you approved for a lease fast. --- ### How to Screen Tenants with SingleKey [How to Screen Tenants with SingleKey](https://www.singlekey.com/en/tenant-report/how-to-screen-tenants-with-singlekey/) Meta: Here's a step-by-step guide on how to screen tenants with SingleKey to find your ideal tenant and to run a successful rental business. Date: May 1, 2025 Author: Mark Gregorski Content: Proper screening is essential to maximize your chances of finding a high-quality tenant. Evaluating a potential tenant requires thorough research into their background to determine their suitability for your rental.This is where a tenant screening platform like SingleKey comes in to simplify gathering all the information you need and offering the right guidance on how to screen tenants effectively. SingleKey provides a comprehensive and easy-to-read Tenant Screening Report with crucial credit history data and information about an applicant’s financial and rental past. Keep reading to find out how to order SingleKey’s Tenant Report and how to use it to find your next tenant.Step-by-step guide: ordering a SingleKey Tenant Reporthttps://youtu.be/JfjFwDqmH2g?feature=sharedStep 1: Set up your account or log inThe first step is to create your SingleKey account or log in if you already have one. If you're new to SingleKey, start by completing a short form and provide some basic details about yourself and the type of rental property you manage.Pro Tip: Before you can view the report, you'll need to verify your identity by uploading a picture of yourself and a piece of government-issued identification. Ensure you enter your name exactly as it appears on your identification.Once you've signed in, select "Tenant reports" in the top menu. Then, click the "Order new report" button to reach the page where you can order your report.Step 2: Invite a tenant or enter the tenant’s informationNext, you must provide a few basic details about the applicant. You can do so in two ways: Option 1: Invite the applicant to fill out the application form Under this option, the applicant receives an email with a request to complete a rental application form. It’s a good choice if you’ve yet to collect their personal information (e.g., name, current address, and phone number). It’s also ideal if the applicant will be the one paying for the cost of the report. Once you complete this step, SingleKey will email the applicant a link to the application form to collect the required details and consent to credit and background check.To get started, click the “Create invite” button.A new page will appear where you must provide the applicant’s name and email address. Adding their phone number is optional, but including this detail can help improve the report’s accuracy.If multiple individuals are applying to be your tenant, you can add their details by clicking the “Add another applicant” button.Next, you can specify which part of the rental application must be completed by checking the applicable box. You can require the applicant to provide proof of income (such as a pay stub or bank statement), employment references, landlord references, and government issued ID.Next, by checking the applicable box, you can specify additional information the potential tenant must submit when completing the application:Proof of income (such as a pay stub or bank statement)Employment references landlord referencesgovernment-issued government-issuedOnce done, click the “Continue” button, which will take you to the page below:In this section, you’ll need to enter the address of your rental property. Click on the down arrow in the “Rental unit” field and select “Add new property,” which will open a new window where you can enter your address, monthly rent, and the date the property is available. Once you’ve completed this form, click “Add.” If you already have your rental set up in SingleKey’s platform, click the down arrow to select it. However, you can still edit the existing details if needed. After adding your property’s address, you can request the applicant to obtain tenant insurance if desired. You can also sign up to learn about SingleKey’s Rent Guarantee by checking the “Opt-in” box. Once finished, click the “Continue” button, which will take you to the check out page. Option 2: Enter tenant information This method is ideal if you’ve already obtained the applicant’s personal information. You can enter the details directly into SingleKey’s platform and receive your report within five minutes.To get started, click the “Enter tenant info” button.A page will appear where you must enter the applicant’s first name, date of birth, current address, and SSN (for US applicants). While not mandatory, you can also provide their driver’s license number, phone number, and SIN (for Canadian applicants). Including these extra details will improve SingleKey’s ability to collect accurate information about the tenant.Directly below, you can upload the applicant’s consent for a credit and background check and a copy of their government-issued photo ID. If you need to add details for additional applicants, click “Add another applicant.” Once you’re finished, click the “Continue” button.The next page is where you enter your rental unit’s address. Use the drop-down arrow in the “Rental unit” field to select an existing property or click “Add another property” to add a new one.If you choose the latter option, the window below will appear where you can provide the full address, plus the monthly rent and date of availability. Click the “Add” button to close the window once you’re finished.On this page, you can also request that the applicant purchase tenant insurance and sign up to learn about SingleKey’s Rent Guarantee. Click the “Continue” button once you’ve entered all the necessary information, which will take you to the checkout page. Step 3: Pay for the reportNow that you’ve supplied all the information SingleKey needs to assemble your Tenant Report, the next step is to pay for your order.If you invite the applicant to fill out the rental form, you’ll need to specify who will pay for the report. You’ll also need to choose whether you’re ordering a US/Canadian credit report or an international one. If you select the U.S. or Canadian credit option, you can choose between TransUnion and Equifax as the credit report provider. Alternatively, you can order a report from both at a discounted rate. The partner code field is optional and applicable only if you received a promotional code to get a discount on your purchase. Suppose you choose the international credit option (only available if you the tenant completes the info themselves). In that case, a drop-down box will appear where you can select the applicant’s country of origin. SingleKey has partnered with Nova Credit to help you securely access an applicant's foreign credit history. Learn more about screening international tenants.Next, enter your payment information and agree to the terms and conditions. You can purchase your Tenant Report using a credit card or Google Pay. Click the “Pay now” button to complete your transaction.  Step 4: Receive your reportAfter completing your payment, you’ll need to verify your identity before receiving your report. To access it, log into your SingleKey account and go to the “Tenant reports” page. From here, you can view and download a copy of the report.Suppose you invited your applicant to provide the required information to generate the report. In that case, you’ll need to wait for them to complete and submit the application form. Once they’ve done so, your report will appear under the “Tenant reports” page.With all the necessary details in one report, you can now learn what valuable insights you can gain from each part of SingleKey’s Tenant Report.Our final thoughtsWith the right tenant screening service, you can quickly access the information you need to evaluate rental applicants confidently. SingleKey makes tenant screening easy, providing information landlords can trust when searching for the perfect tenant.Start screening tenants with SingleKey --- ### How SingleKey’s Referral Program Works [How SingleKey’s Referral Program Works](https://www.singlekey.com/en/ownerkey/announcements/how-singlekeys-referral-program-works/) Meta: Explore SingleKey's Referral Program and find out how to refer a friend to earn free Tenant Screening Reports and Rent Guarantee rewards. Date: March 31, 2025 Author: Mark Gregorski Content: We’re excited to introduce the SingleKey Referral Program, a simple way for you to earn rewards by sharing the benefits of our tenant screening and Rent Guarantee Program. Whether you're a landlord, property manager, or real estate professional, you can now get rewarded for helping others make informed decisions and protect their rental income.The best part? There’s no cost to join, no complicated forms to fill out—just refer, earn, and enjoy the perks.In this guide, we’ll walk you through how the program works, the rewards you can earn, and why it pays to spread the word about SingleKey. What is SingleKey’s Referral Program?SingleKey's Referral Program allows you to earn rewards by recommending our services. It consists of two offers: the Tenant Screening Report referral and the Rent Guarantee referral. If you refer a new SingleKey user, you will both receive a free Tenant Screening Report that you can use to screen your next tenant. If you refer someone to the Rent Guarantee, you get a $100 cash bonus, an Amazon gift card, or credit against your next fee payments (your choice). In both cases, the referee must verify their identity on our platform before you can claim your reward.How Tenant Screening Report referrals workWhen someone signs up for a SingleKey account with your referral link, you earn a free Tenant Report (Equifax or TransUnion). Follow the steps below to get started:Step 1: Access the referral programSign in to your SingleKey account and click the FREE report button in the top-right of the navigation menu. Alternatively, you can go to your user icon and select Refer a friend in the dropdown menu or Account settings and click on the Referral tab. From there, select the Tenant Report tab to start sharing.Step 2: Send your friend a referral linkTo refer a friend, you must send them your personal referral link. They will use this unique link to create and verify their SingleKey account. You can share your referral link in one of three ways: by sending an email, copying the link and sending it via text, or providing a QR code. We also make it easy to share your link on your social media channels—just select the right social icon on the referral page.Step 3: Collect your free Tenant ReportOnce your friend creates their SingleKey account and confirms their identity, we will credit your account with a free Tenant Report. The reward will be applied at checkout the next time you purchase a report. You can check out the referral dashboard to keep track of how many credits you've earned and used. Step 4: Your friend gets a free Tenant ReportYour friend will also receive a complementary Tenant Report when they sign up using your referral link. We will apply the credit to their account, which they can claim immediately or save for when they have a vacancy.How Rent Guarantee referrals workA Rent Guarantee referral earns you $100 in cash, an Amazon gift card, or credit towards your next fee payments when someone guarantees a lease through our Rent Guarantee Program. Follow the steps below to get started:Step 1: Access the referral programLog in to your SingleKey account and select FREE report in the top navigation menu. You can also click on the Referral tab under your Account settings. Then, click on the Rent Guarantee tab.Step 2: Submit your friend’s contact informationIn the spaces provided, enter your friend’s first and last name, email, and phone number and click the Submit button. This information will be forwarded to SingleKey’s Rent Guarantee team.Step 3: Collect your reward once your friend signs upWe will contact your friend to introduce them to Rent Guarantee and help them enroll. Once they're approved and set up, you'll receive $100 for each lease that is guaranteed under our program. From the dashboard, you can view a list of everyone who has enrolled in the program through your referrals. Important referral program details to remember The SingleKey Referral Program is designed to help you easily share the benefits of our tenant screening services and Rent Guarantee Program. Just keep the following in mind: There's no limit to how many free Tenant Reports you can earn through our referral program. The same goes for Rent Guarantee referrals.You can only refer new users who do not have a SingleKey account at this time. To ensure the highest level of security and protect sensitive financial information, we ask all of our users to complete a quick ID verification process. This helps us prevent any malicious activity on our platform. Why join SingleKey’s Referral Program?Here’s why you’ll love being a part of our referral program:Support your fellow landlords and property managers: By sharing SingleKey’s essential tenant screening tools and rent protection, you’re helping others make smarter leasing decisions. You’ll be supporting their success by ensuring they have high-quality tenants and steady rental income.Earn rewards without any extra effort: Our referral program is an easy way to earn free perks while helping others in the rental industry.Completely free to join: There’s no cost and no complicated sign-up process. Just share your referral link!Our final thoughtsSingleKey's Referral Program offers an easy way for you to earn rewards by recommending services you already use and trust. It's also a great way to support your fellow landlords. By introducing them to our platform, you can help them find reliable tenants and safeguard their rental income. Sign in to your SingleKey account today and start collecting rewards—it's our way of saying" "thank you" for being a part of our community. --- ### Capital Improvements vs. Repairs: What to Know for Your Rental Property Taxes [Capital Improvements vs. Repairs: What to Know for Your Rental Property Taxes](https://www.singlekey.com/en/ownerkey/finance-management/capital-improvements-vs-repairs-what-to-know-for-your-rental-property-taxes/) Meta: Know the difference between capital improvements and repairs for rental properties and report them accurately when filing your taxes as a landlord. Date: February 27, 2025 Author: Mark Gregorski Content: Understanding the difference between capital improvements and repairs on your rental property is critical when reporting your tax deductions. The reason is that distinct tax laws apply to these expenses: capital improvements are depreciated over time, while repairs are fully deductible in the year that the repair was done. This distinction can significantly impact how much tax you pay on your property's earnings and how you make financial decisions for your rental business.Whether replacing worn-out components in your HVAC unit or preparing for a major kitchen overhaul, our guide will help you classify your expenses correctly. That way, you can maximize your tax deductions while complying with tax laws.What are capital improvements to a rental property?A capital improvement is an expenditure that increases your rental property's value or makes it better. Unlike ongoing repairs and maintenance, which you perform to keep your property in good working order, capital improvements upgrade your property and boost its overall market worth. Capital improvements are also referred to as capital expenditures, capital costs, or capital expenses.That's the general definition of capital improvement. But for tax purposes, capital improvements encompass more than an arbitrary increase in your property's value. According to IRS Publication 523, a capital improvement "adds to the value of your home, prolongs its useful life, or adapts it to new uses."  In Canada, tax authorities define capital improvements as "renovations and expenses that extend the useful life of your property or improve it beyond its original condition." Besides the tax definitions, there are other ways you can identify a capital improvement:Expensive: It typically requires a significant upfront investment, anywhere from a few thousand dollars to hundreds of thousands. Many landlords establish reserve funds to ensure they have the money to pay for a capital expense.Complex and time-consuming: It demands significant time and attention to complete, regardless of whether you do the work personally or hire professionals.Infrequent: Capital improvements provide lasting benefits that last many years. As such, they're not something you'll attend to routinely as a landlord or property owner.The rules governing what constitutes a capital investment can be fuzzy. Consult a tax expert for guidance if you're unsure whether an expense is a capital improvement or repair. You can also review the criteria used by the Internal Revenue Service (IRS) and Canada Revenue Agency (CRA) to identify capital investments. We've compiled some helpful resources you can refer to later in this article.What is considered a rental repair?Repairs are routine preventative maintenance to keep your rental property in working order. These quick fixes and touch-ups preserve a property’s current condition and ensure it operates smoothly on a daily basis.  Unlike capital improvements, repairs don't add significant value to your property, nor do they alter it for a new use or extend its useful life. The cost for repairs is relatively low, requiring minimal time and effort to carry out. Since repairs are recurring expenses, you must attend to them more frequently. For this reason, creating and following a rental property maintenance schedule can help you stay organized. Examples of capital improvements vs. repairs for rental propertiesThe table below is a quick comparison of capital improvements and repairs for rental properties that highlights the difference in scope.Capital ImprovementsRepairsAdding a new bathroomReplacing chipped bathroom tilesRenovating the kitchenFixing a leaky kitchen sink faucetReplacing the HVAC systemReplacing minor parts in the HVAC systemInstalling new flooringPatching a small section of a damaged carpetUpgrading all the windows to energy-efficient onesReplacing a broken windowReplacing the entire roofPatching a hole in the roofCertain items purchased for use in your rental also fall under capital improvements. Some examples include furniture, equipment, and appliances. Tax treatment of capital improvementsCapital improvements are depreciated over time, which means their cost is spread over their useful life. In other words, you can't write off the total cost in the current tax year. Instead, you claim a portion each year as an expense against your rental income.General depreciation system in the U.S.Most rental property improvements in the U.S. are depreciated under the General Depreciation System (GDS). Under this accounting method, you spread the cost of your improvement over 27.5 years. For example, if you spent $20,000 on a kitchen renovation, you could claim a maximum of $727.27 annually ($20,000 divided by 27.5).Some improvements may qualify for shorter depreciation periods, so be sure to review the guidance from the IRS or consult with a tax professional. Capital cost allowance in CanadaLet's assume you own a rental property in Canada. In that case, you must follow the rules for deducting depreciation under a system called capital cost allowance (CCA). Under this system, the CRA divides assets into different classes, each of which gets depreciated at a specific rate. Most rental improvements fall into Class 4, which has a 4% depreciation rate. Using our previous kitchen renovation example, the maximum amount allowed as a tax deduction in the first year would be $800 ($20,000 multiplied by 0.04). In the following year, you'd deduct $800 from your initial cost of $20,000 and repeat the calculation. Your allowable depreciation in the second year would be $768 (($20,000 minus $800) multiplied by 0.04).The bottom line on capital improvementsBe careful not to categorize a repair as a capital improvement mistakenly. Otherwise, you'll overstate your expenses and risk getting hit with a surprise tax bill if you get audited.Capital improvements require a significant upfront investment, but they can enhance the long-term value of your property and boost its appeal among tenants. While you won't get an immediate deduction for the whole amount, depreciation offers valuable tax benefits for many years. Knowing how much of your improvements' total cost qualifies as a tax deduction annually can help you budget more effectively and make better investment decisions.To learn more about calculating depreciation for rental improvements, check these guides:How to Calculate Rental Property Depreciation in the U.S.What is Rental Property Depreciation in Canada (And How Do You Calculate It)?Tax treatment of repairsRental property repairs are more straightforward to deal with from a tax perspective, since you can deduct the total cost of repairs and maintenance incurred during the year. Since the typical life expectancy of repair work rarely exceeds a year, they're not subject to depreciation like capital improvements. Given the favorable tax treatment of repairs, you can potentially use them to lower your tax burden. Therefore, ensure you track these expenses closely and avoid misclassifying them as capital improvements, which are written off gradually over many years.Learn more about capital improvements vs. repairsNavigating the tax laws surrounding these capital improvements and repairs can be trickier in practice than it may seem, as there are many nuances and exceptions. Sometimes, it's unclear whether an activity is a capital improvement or repair. If you make the wrong choice, you risk getting hit with an unexpected tax bill and penalties.To learn about classifying rental expenses as either capital improvements or repairs correctly, check out the following resources:For the U.S.IRS – Tangible property regulations: A comprehensive collection of FAQs that explain how to distinguish between capital investments and repairs. It also covers exceptions like the Safe Harbor Election and Safe Harbor for Routine Maintenance, which allow you to treat improvements as ordinary repairs for tax purposes. IRS Publication 527: This handy guide breaks down how to calculate and report rental income and expenses to the IRS, including depreciation for capital improvements.  IRS Publication 946: Another valuable resource that clarifies how to depreciate property, including residential rental units.For CanadaGovernment of Canada – Current expense or capital expenses. This brief guide outlines the criteria to determine whether an expense qualifies as a capital improvement or repair. Be sure to check out the section at the bottom that addresses special situations regarding improvements.Government of Canada – Capital cost allowance (CCA) for rental property: This guide provides a solid overview of CCA for rental properties, including the amount of CCA you can claim and how to calculate it.Our final thoughtsAs a landlord or property owner, it's essential to differentiate between capital improvements and repairs. Both expenditures affect your rental property's tax deductions, but they do so in different ways.Capital improvements are expenses that significantly increase your rental's value, improve it beyond its original condition, or extend its useful life. Because they provide lasting benefits, you must depreciate them over time rather than claim the total cost in the current year. Repairs address damages due to wear and tear and help keep your property functional. Because they don't add significant value to the property, they're fully deductible in the year you pay for them.Given the distinct tax treatment of capital improvements and repairs, keeping detailed records of transactions and work done will make it easier to report deductions during tax season. Track your expenses effectively with our rental property expenses sheet. --- ### Access Tenant Eviction Data with SingleKey’s Expanded Public Record Search [Access Tenant Eviction Data with SingleKey’s Expanded Public Record Search](https://www.singlekey.com/en/tenant-report/access-eviction-data-with-singlekeys-expanded-public-record-search/) Meta: Learn how SingleKey’s expanded public record search sources eviction data from Openroom, SOQUIJ, and CanLII to give landlords valuable tenant screening information. Date: January 6, 2025 Author: SingleKey Content: As a landlord, it’s important to know if your prospective tenant has ever been evicted so you can avoid any potential conflicts. Unfortunately, accessing eviction data in most jurisdictions isn’t an easy task. You would have to search local court records manually, ask the tenant’s previous landlord (and trust they’re a reliable reference), or rely on the tenant themselves to be upfront about a past eviction.   SingleKey’s expanded public record search takes the manual effort out of this process by capturing valuable eviction data, along with criminal history, in one place for you to review. Here’s where you can find this information on our Tenant Screening Report and what details are included.What is SingleKey’s public record search? The public record search is a feature of the Tenant Screening Report that scans open databases like Openroom, CanLII, and SOQUIJ to see if there’s a match in their court records with the name of the rental applicant. Here’s an example of how this data is summarized in a report so you can quickly spot warnings and potential red flags: Eviction court records from trusted sources The public record search gives landlords and property managers insights into a tenant’s relevant legal history, including evictions or criminal activity, without having to check multiple databases manually. This data is securely accessed and collected from the following sources: Openroom’s crowdsourced tenancy court orders from across CanadaCanLII’s extensive respository of judicial decisions from all Canadian juridictionSOQUIJ’s database of decisions from the judicial and administrative tribunals of QuébecMore court decision detailsIf there’s a potential match with the rental applicant’s name and any of the databases in our public records search, you’ll get additional details, like the name of the court case and the date it was filed, in the public record search results section of the Tenant Report: Clicking on each result expands the court record for a summary of the case (if available). You’ll also get a direct link to the source for full details. Here’s a sample result pulled from CanLII: Understanding public record search resultsBecause the results from the public record search come from both self-reported information and publicly-accessible databases, there may be a mismatch. Make sure you review the results carefully to confirm the applicant’s identity before making a decision about their rental application.Our final thoughtsKnowing who your prospective tenant is and assessing whether they’ll be a reliable renter are the goals of any thorough tenant screening process. Our expanded public record search is just one of the tools we give you as a landlord and property manager to help you uncover potential tenant red flags. Learn more about gathering all the facts you need to choose your next tenant wisely with a Tenant Screening Report from SingleKey. --- ### SingleKey Cyber Monday Event: Save Big on Rent Guarantee and Tenant Screening Reports [SingleKey Cyber Monday Event: Save Big on Rent Guarantee and Tenant Screening Reports](https://www.singlekey.com/en/ownerkey/announcements/singlekey-cyber-monday-event-save-big-on-rent-guarantee-and-tenant-screening-reports/) Meta: Here's how to take advantage of SingleKey's Cyber Monday promotions on the Rent Guarantee Program and Tenant Screening Reports. Date: November 29, 2024 Author: SingleKey Content: We’re helping landlords prepare for a stress-free 2025 with our Cyber Monday event! Read on to learn more about protecting your rental income with Rent Guarantee and screening better with our Tenant Screening Reports, or skip down to each limited-time offer using the links below Rent Guarantee Offer: Get One Month Free Tenant Report Offer: Buy 4, Get 1 Free What is Rent Guarantee? Unpaid rent and tenant issues can lead to major financial strain and stress on homeowners, especially those who rely on a steady rental income to cover mortgage payments on investment properties. The Rent Guarantee Program is designed to manage these tenant default risks. Think of it as a landlord’s backup plan when something unexpectedly happens to disrupt the flow of rental income. How does Rent Guarantee protect homeowners? When rent goes unpaid, tenant conflict occurs, or an eviction takes months to resolve, Rent Guarantee steps in with extensive financial protection and legal support. Here’s what’s included in the program:  Rental income guarantee: Up to 12 months’ of lost rent (up to $60,000) from the time/date of default. Lease break protection: Up to 30 days of rent paid if a tenant leaves unexpectedly without providing proper notice. Property damage protection: Unpaid court-ordered malicious tenant damages are reimbursed up to $10,000. Legal support and eviction resolution: In case of an eviction, we’ll connect you with a paralegal to support you throughout the process. Legal fees are reimbursed for up to $2,000. Learn more about protecting your rental income with Rent Guarantee.One month free of Rent Guarantee for Cyber Monday Take advantage of the full range of the Rent Guarantee’s financial and legal support for landlords. During our Cyber Monday event, sign up for a year under the program and get one month free. You have two options to claim this offer:Contact our team and mention the Cyber Monday promo. Book a call here.Submit a Rent Guarantee application and use code CYBER2024 at checkout. Log in to your SingleKey account. What is a Tenant Screening Report?Our Tenant Screening Report is a comprehensive summary of a tenant’s key credit, employment, and rental history. Results are delivered to you within five minutes, so you can quickly evaluate a rental applicant’s financial status and reliability as a renter. How does a Tenant Report help landlords screen better?A Tenant Report arms landlords with all the key details they need to choose reliable tenants confidently. Here’s what’s included in each report:A full credit check by Equifax, TransUnion, or both credit bureausA public record scan that pulls eviction records sourced from Openroom, SOQUIJ, and CanLIIInformation from publicly-available social media profiles so it’s easy to compare results from tenant-provided details like employment history from LinkedInAn automated document fraud check that cross-references information from tenant-provided PDF files with their rental application, ensuring the documents are untampered and that they match An AI-enabled ID verification tool that confirms an applicant’s identity so you know you’re running a credit check on the right personLearn more about using a Tenant Report to screen potential tenants effectively.Tenant Report: Buy 4, get 1 free for Cyber Monday  We’re offering a special discount when you bundle Tenant Reports: buy four screening reports and get an extra one for free. There’s no expiry on the reports, so you can stock up now for the spring leasing season and use the screenings any time. There’s also no limit on how many bundles you can purchase. Log in to SingleKey now to bundle and save on your tenant screenings. Our final thoughtsDon’t miss out: these Cyber Monday offers for Rent Guarantee and our Tenant Screening Report are available until December 13, 2024!  --- ### Welcoming New Tenants: 7 Keys to a Better Landlord-Tenant Relationship [Welcoming New Tenants: 7 Keys to a Better Landlord-Tenant Relationship](https://www.singlekey.com/en/ownerkey/tenant-relationships/welcoming-new-tenants-7-keys-to-a-better-landlord-tenant-relationship/) Meta: Discover how to create a welcoming environment for new tenants and build better landlord-tenant relationships. Date: September 18, 2024 Author: Nelda Schulte Content: If you’re a seasoned landlord, you know that your relationship with your tenant can make or break the success of your rental business. Here are seven ideas to start your new landlord-tenant relationship on the right foot and to enhance your tenant management processes.Landlord-tenant relationships: where to startDo you know your clients?A solid grasp of what clients need is at the core of every successful business. If you think about your rental in business terms then, do you know who your tenants are? Understanding your tenant demographic means you can offer the right home that fits their lifestyle and create a positive landlord-tenant relationship. Once you understand your tenant demographics, it’s time to take stock of your rental property’s first impression.First impressions matterRealtors often call the front of a house or building the "handshake " or “curb appeal.” It’s your rental property’s introduction to someone new and the start of your landlord-tenant relationship. A well-lit, tidy entrance instantly reflects the quality of your property maintenance and the professionalism of your management. Similarly, maintaining common spaces such as lobbies and hallways creates a more inviting atmosphere.Community integrationPutting together a welcome package with information about neighborhood amenities, transportation, shopping, and local attractions would be a thoughtful touch for your new residents. Why not take it a step further though? Include details on trash and recycling disposal, emergency contact numbers, procedures for service requests, property management contacts, and a community newsletter or email. Including a welcome gift basket or a gift card to a local hardware or grocery store is sure to make a warm impression.Community events like potluck dinners, movie nights, or Family Day with a barbecue and kid's games are great icebreakers as well. They contribute to creating memories and a supportive community atmosphere.Taking the time to incorporate a few of these gestures into your tenant management sets the tone for maintaining a positive landlord-tenant relationship.Fostering a community of respect and inclusionAccessibility for all tenantsMaking rental properties accessible is an essential part of creating a welcoming community. It’s also a legal requirement in many jurisdictions. For example, in Alberta, housing providers have a duty to accommodate and must follow specific requirements and processes when they receive an accommodation request. Another way to increase accessibility is by incorporating innovative technology. Smart home devices such as voice-activated thermostats, lighting, and window blinds make it easy for tenants to control their living spaces. Cultural sensitivityBeing culturally inclusive as a landlord requires a proactive approach. Promote a zero-tolerance policy toward discrimination and harassment. Communicating these policies, along with the procedures for reporting issues, helps establish a safe and supportive environment. By swiftly and appropriately taking action against any form of discrimination, property managers can demonstrate their commitment to fostering a community that genuinely respects every member.Creating communication in various languages, organizing community events that celebrate cultural festivals, decorating communal spaces with art from diverse backgrounds, and adding prayer rooms can be powerful reminders of the community’s harmonious and culturally diverse values. Gifts for special occasions and holidaysLittle gestures speak volumes. If you know the tenant’s interests, a small surprise on a birthday, anniversary, or wedding with a gift that matches their interests makes people feel appreciated and strengthens your landlord-tenant relationship.Although not everyone celebrates the same holidays, most people like to be included in the festivities. Holiday presents that are respectful of religious diversity will be appreciated. Rewards and incentivesIncentivesTurn aging appliances or rooms needing paint into tenant appreciation incentives. Offer to paint a room in the tenant’s chosen color or upgrade an old appliance to stainless steel as a reward for on-time payments. Tenants often love cash incentives or discounts for lease renewals as well. Typically, this involves offering discounts on the first month of the renewed lease. This strategy reinforces positive behavior and fosters loyalty. For example, you might offer a 15% discount in the first year, a 35% discount in the second year, and a free month’s rent in the third year.Annual incentivesIncentivizing tenants through rewards for positive behavior is cost effective. The expense of a TV is lower than ongoing repairs or replacing tenants. Incentives also foster tenant pride and anticipation for future rewards.CommunicationTenants come from diverse backgrounds and cultures. To avoid misunderstandings, communicate your expectations about property care, use, maintenance requests, and emergency protocols from the beginning. Create inclusive documentationCreate documents with visual aids, multilingual signs or instructions, and brief, clear messages. If possible, hire multilingual staff or use interpretation services like Google Translate to improve understanding and accessibility.Show appreciationShow appreciation when tenants report maintenance issues, demonstrating gratitude for their efforts in maintaining the property. Promptly addressing issues and keeping tenants informed through email, text, or in person shows your commitment to their comfort and builds trust.Update the propertyFrom applying a fresh coat of paint, to updating outdated appliances, completing property upgrades and routine preventative maintenance can ensure your property’s appeal and a high-quality living environment. These enhancements improve the tenant's quality of life and show an ongoing investment in the property, fostering long-term tenant commitment. Additionally, these upgrades can be claimed as rental property depreciation.Encourage constant feeedbackHaving a feedback system with regular surveys or a suggestion box allows tenants to share concerns or suggest improvements without fear of backlash. This approach helps identify necessary adjustments and shows tenants that their voices are valued and respected. Flexibility and adaptabilityGiven recent economic and environmental shifts, flexibility with tenants is key. This might include offering pet-friendly policies, flexible lease terms, or spaces for remote workers. Adapting to tenants' needs enhances their sense of support and understanding, boosting satisfaction and loyalty.Safety and securityA safe environment is a welcoming one. Well-maintained lighting, locks, security cameras, and fire safety systems enhance tenants' sense of security. To ensure safety, regularly inspect smoke detectors, fire extinguishers, and carbon monoxide detectors, and install quality locks and security systems.Sustainability initiativesRecycling and green programs attract sustainability-minded tenants and boost their well-being and environmental health.Our final thoughtsCreating a welcoming environment boosts tenant retention, positive reviews, and landlord-tenant relationships. It involves maintaining a great first impression, integrating tenants into the community, and implementing sustainability initiatives.Beyond addressing immediate needs, a commitment to understanding tenants' diverse requirements fosters long-term satisfaction and loyalty. Valued and secure tenants are more likely to stay and share positive experiences, enhancing both the property's appeal and profitability. --- ### Ensuring a Good Fit for Your Rental [Ensuring a Good Fit for Your Rental](https://www.singlekey.com/en/ownerkey/tenant-relationships/ensuring-a-good-fit-for-your-rental/) Meta: Here’s how landlords can define their tenant selection criteria to help attract quality tenants who are the right fit for their property. Date: September 18, 2024 Author: Nelda Schulte Content: Matching tenants to your property is like finding a partner on a dating app. Days of spontaneous encounters are now rare. The dating world has become choosy. Many people make their choices online with professional-standard profiles that include detailed criteria for their ideal partner, including age, appearance, location, occupation, education, lifestyle choices, values, personality traits, and pets. Why have a tenant screening checklist? If dating apps know that defining your selection criteria increases the odds of finding a good match, wouldn’t it make sense to take the time to outline your tenant selection criteria for your rental property? A tenant screening checklist has all the requirements that you would like your future renter to meet. This ensures a good fit for your rental property and gives you a better chance of attracting a quality tenant.What should be included in the tenant selection criteria?When it comes to creating a tenant selection criteria, these factors can help you decide what to include.What property type do you have? Begin the process of defining your rental requirements with property type. Each property appeals to specific types of tenants - there is no such thing as “one size fits all.” Each of these property types attracts a specific tenant type.a bachelor condo in a high-density downtown areaa three-bedroom townhouse in a blue-collar neighborhoodan exclusive downtown penthouse with every possible amenitybudget apartments in the university areaa five-bedroom house in suburbia close to schoolsA family of five would most likely be looking for a house in suburbia, just as a student would seek a budget apartment close to the university. Remember that the property, neighborhood, and location can help you refine your tenant selection criteria. Is your property type suited to single professionals, small families, retired couples, or students? Who lives in your neighborhood?Each neighborhood has a unique personality and demographic: some may have more professionals, established couples, young families, or students. Knowing who already lives in the neighborhood is an excellent indicator of who will live there in the future. Identifying your neighborhood’s personality takes you one step further in defining your tenant screening criteria.Age of propertyThe next step in setting your tenant selection criteria is to reflect on the age of your property. Is it brand-new, ten years old, or built in the 1970’s? Though well-heeled tenants may typically choose brand-new accommodations in the best areas of town, it isn’t unusual to find a well-maintained, 1960s apartment building in an established area that attracts high quality tenants. Regardless of the age of your property, if it is clean, well-maintained, and in a secure area, you will significantly increase the likelihood of attracting great tenants who take pride in their homes and surpass your rental requirements.Number of tenantsMinimum housing and health standards specify space requirements based on the size of sleeping spaces per adult/bedroom. They also have rules for areas where people are prohibited from sleeping that are not considered bedrooms, such as basement rooms with no windows. However, as a landlord, you can restrict the number of people living in your unit. The number of tenants is essential for your rental requirements since the more people, the greater the wear and tear and the higher your utility costs (if utilities are included). Too many tenants in one space can also cause premature aging of your rental property—and thinning of your pocketbook (and hair).SmokingThere are certain regions where you may forbid smoking of any or all substances in your rental property, including cannabis. Tenants who have a prescription to smoke medical marijuana for health reasons are protected by laws in many parts of the word, and you may have a duty to accommodate them. However, you could designate the condo balcony or backyard deck as an allowable smoking area. Always check local regulations to understand what smoking policies you can enforce.Pets Be sure to include pets in your tenant screening checklist. In some jurisdictions, pet leases are not covered under residential tenancy laws, it’s up to you, the landlord, to decide whether pets are allowed, and if so, what type, breed, weight, and under what conditions. One exception to the rule in many places is service animals, which are not considered pets. Landlords cannot discriminate against tenants requiring the assistance and support of an animal, and thus have a duty to accommodate.For example, in Alberta, you can ask tenants to sign a pet lease, including pet rules, fees, and the consequences of pet issues. Many landlords ask to meet pets during showings and request pet references as part of their rental requirements. In addition to your pet leases and fees, many condominiums have their own pet policies and fees as well. Rent When it comes to how tenants pay rent, it’s a bit of a catch-22. Although you cannot ask tenants if they have a job, on the tenant application, you can ask for proof of income—which, for many, is a job. Employment is one of many ways for a tenant to pay their rent, however, tenants pay rent in various ways, such as pensions, inheritances, trust funds, savings, and investments. As part of your rental requirements for tenants, asking tenants to provide legitimate proof of finances and consent for a credit check is standard practice.ParkingMany buildings have assigned/designated parking spaces. However, some buildings haven’t adequately planned for every member of the household owning vehicles. In your tenant selection criteria, you can specify how many parking spaces your rental property can accommodate at your building/house. ChildrenAlthough landlords are not allowed to refuse to rent to people with children, when defining your tenant screening checklist, consider whether your house/townhouse/condo/apartment is child-friendly and if the neighborhood is suitable for kids.Noise level Many municipalities stipulate maximum noise levels for residential areas during daytime and nighttime hours. However, you can also indicate whether or not you will allow tenants to play musical instruments, have band rehearsals, etc. in your rental requirements for tenants. GuestsAlthough landlords in many jurisdictions cannot include lease clauses banning overnight guests, if a guest is living at the property, the tenant must ask the landlord for permission, and the lease cannot be amended without the agreement of both parties. When meeting potential tenants, it's good practice to remind them that the rental requirements specify that they cannot move additional people in without your knowledge or consent.Duration and lease typeA critical element of your rental requirements is how long you want your tenants to rent your property. As a landlord, it's essential to specify the lease duration and whether your tenant is signing a fixed-term or periodic lease.  A fixed-term tenancy specifies a predetermined tenancy date, which can be for any period, such as a week, month, six months, or 12 months duration. When the fixed-term tenancy ends, the tenant must leave. A periodic tenancy also specifies tenancy for a duration such as week to week, month to month, or year to year. Unlike fixed-term tenancies, where there is a definite end date, a periodic tenancy can carry on indefinitely until either party gives notice that is in alignment with local residential tenancy laws. Periodic tenancies also state allowable reasons for ending a periodic tenancy and precise durations of required notice for both landlords and tenants.  Our final thoughtsWhether you are seeking a short, mid, or long-term tenant relationship, it makes sense to be strategic. Take the time to define your rental requirements for tenants so you have the best chance at finding the right renter for your property. The best part about learning how to create your tenant selection criteria is that you can repeat the process for other properties. Learn more about how to find great tenants in five easy steps. --- ### How SingleKey Simplifies Landlord and Employment Reference Checks [How SingleKey Simplifies Landlord and Employment Reference Checks](https://www.singlekey.com/en/tenant-report/how-singlekey-simplifies-landlord-and-employment-reference-checks/) Meta: Discover how SingleKey's Landlord and Employment Reference Checks save time for landlords and help them make more informed decisions. Date: September 18, 2024 Author: SingleKey Content: You’ve listed your place for rent, welcomed potential tenants to the showings, and sorted through dozens of rental applications. You’ve finally narrowed down your top choices, and you’re running through your final checklist of tenant requirements. Up next? Checking landlord and employment references. What initially seems like a simple task turns out to be a frustrating and time-consuming game of endless follow-ups. Plus, how do you know the person you finally contact is a real reference? To make this process easier, SingleKey offers services to verify landlord and employment references for you. Here’s how we validate references, how we can help save you time, and why these checks are important factors when choosing your next tenant.  What are landlord and employment reference checks?  Landlord and employment reference checks are completed by asking a rental applicant’s landlord and employer a series of questions to understand the potential tenant better. Their contact details are provided by the tenant. These reference checks give you valuable insight into your future tenant, including how they’ll likely treat your property, if there were any issues during their previous tenancy, and how financially stable they are. Speaking with landlord and employment references is also a great way to verify a tenant’s identity.How do SingleKey’s landlord and employment reference checks work? SingleKey takes on the manual effort of vetting references by contacting them for you. This means you’re not dealing with missed calls and endless follow-ups, or juggling note-taking while trying to ask the right questions.Explore the video below to learn more about how our landlord and employment reference checks work. https://www.youtube.com/watch?v=WdIFVfeWpbo On SingleKey’s reference calls, our team gathers specific information like the tenant’s job title, their employment dates, rental payment history, and any relevant details that would reflect how they may behave as a renter. You’ll then get the following items as part of our services:Landlord Reference Check Report: This detailed summary includes key answers about the tenant’s track record with rent payments, if any terms of the lease were violated, and if there were any issues during their tenancy. SingleKey will also capture additional notes from the landlord’s impression of the tenant, as well as a complete log of our attempts to contact the reference. See a sample Landlord Reference Check Report here.Employer Reference Check Report: Similar to the Landlord Reference Check Report, we’ll record the number of times and which methods we tried to contact the reference, as well as the employer’s answers to important questions, like the tenant’s employment status and their dates of employment.See a sample Employer Reference Check Report here. Call Recording: Each report comes with a full audio recording of the reference check conversation, so you can listen to it at your convenience.How does SingleKey confirm the authenticity of the reference?We ask targeted questions that only a genuine landlord or employer would be able to answer. Our verification process is enhanced by a line of questioning that is tailored and open-ended, which we've developed through extensive testing to draw out deeper insights. We also pay close attention to the tone and consistency of the answers to help gauge how strong or involved the reference’s relationship is or was to the tenant. This comprehensive approach helps us ensure that the information you receive is both reliable and trustworthy.How long does it take to complete the landlord and employment reference checks? Typically, you’ll get the results from the reference checks within 2 to 5 business days. This may vary based on how quickly the landlord or employer responds.What if you can’t reach the landlord or employer? If we can’t get hold of the landlord or employer right away, we try multiple times to contact them. We’ll make up to three attempts using different methods like phone calls or emails to try and connect. If we’re still unable to reach them, we’ll let you know and suggest next steps to get you the information you need.What are the benefits of SingleKey’s landlord and employment reference checks? Save time and ensure accuracyWe make the entire process of collecting and investigating references easier and faster. Instead of chasing down landlords or employers and playing phone tag, we handle everything for you. Our communication is professional and consistent, and we take extra steps to verify the authenticity of the references. Real insights to make more informed decisions Our landlord and employment reference checks are a deepdive into how well the provided contact knows the tenant as a renter and as an employee. This means that you’ll get firsthand, direct knowledge about potential tenants to create a clear and accurate picture of the person’s history.We’ve had many examples where these reference conversations have produced important details about the prospective tenant:In one case, a reference shared positive feedback, noting the tenant consistently paid rent on time, kept the unit clean, and would be welcomed by the reference again as their renter. In another instance, an employer gave favorable information, confirming the individual was a reliable employee and a valued team member. In a different instance, the reference revealed one late rent payment and possible unauthorized individuals residing in the unit.A legally compliant process We take our landlord and employment reference checks seriously. The questions asked during our reference calls adhere to the Personal Information Protection and Electronic Documents Act (PIPEDA). All reference details are strictly confidential, and as a SOC 2 Type 2 compliant company, our users’ data is protected under the highest standards of data security compliance in the world. Our final thoughtsLandlord and employment reference checks are challenging because they take so much time and effort. Asking thorough questions and ensuring that the contact is the tenant’s actual landlord or employer adds even more barriers to the process. That’s why having an experienced team like SingleKey complete your landlord and employment reference checks makes such a difference. You’ll get all the essential insights that you need (minus the legwork) to screen your potential tenants properly, which helps you decide who your perfect tenant will be. Our landlord and employment reference checks are now available as add-ons to the Tenant Screening Report, so log in to the SingleKey platform to take advantage of this service. --- ### How to Sign Up for the Rent Guarantee [How to Sign Up for the Rent Guarantee](https://www.singlekey.com/en/rent-guarantee/how-to-sign-up-for-the-rent-guarantee/) Date: August 12, 2024 Author: Mark Gregorski Content: Did you know that one of the most common reasons why a tenant stops paying rent is because of job loss or financial difficulties? When the unexpected happens, SingleKey’s Rent Guarantee is there to protect a landlord’s rental income with financial and legal support.In this guide, we'll show you how to sign up for the Rent Guarantee through our online platform and get peace of mind. What is the Rent Guarantee Program?With the Rent Guarantee, landlords are protected if their tenant stops paying their rent or breaks their lease. SingleKey will cover up to 12 months of rent (up to $60,000), plus $10,000 to fix any malicious tenant property damage, and $2,000 to pay for legal fees in case of eviction. Explore the video below as SingleKey’s Rent Guarantee Specialist, Hannah Jones, breaks down the benefits of the program and a few frequently asked questions. Steps to apply for the Rent GuaranteeStep 1: Enter tenant and rental property detailsBegin by signing into your account through the SingleKey app. If you don't have an account, you can set one up.Once you're signed in, click on the Rent Guarantee tab located at the top of the page. Then click the "Get started" button to start your Rent Guarantee application. A new page will appear where you will be asked to enter your name, email address, and phone number. Then, enter the same information about your tenant by clicking the drop-down arrow in the "tenant" field to create their profile. Directly below, provide their annual pre-tax income. If one or more other individuals are applying to be your tenant, click the "Add a co-applicant" button to create and fill out more tenant profiles. Any landlord who has already run a SingleKey Tenant Screening Report on a tenant can choose that tenant from a drop-down list to autofill their info. Next, click the drop-down arrow in the “Rental unit” section. The following form will appear where you can provide details about your property’s location: Fill out all the required fields and then click "Add." If you've already set up your rental property in your SingleKey account, it will appear when you click the drop-down arrow. Once complete, specify the lease start date and whether it pertains to a new or existing tenant. Lastly, you'll need to provide the following details about your tenant(s) to determine their eligibility for the Rent Guarantee: Monthly rent payment Annual household income (make sure to include the combined income of all the tenants living in your rental) Employment status Bankruptcy history Once you’ve completed this page, click the “Continue” button to move on to the next step. Step 2: Upload the required documents In the next section, you'll need to provide your tenant's SingleKey credit report and proof of income. Select the “Upload” button to attach them to your Rent Guarantee application, and click the "Continue" button.  This should be auto-populated if you've already run a Tenant Screening Report on the tenant, but you can upload any other relevant documents the tenant may have sent you. If you haven’t conducted a credit check on your tenant, you have the option of using SingleKey's Tenant Report to get the job done. Select the "Run credit report" button to order your report. When you are approved for the Rent Guarantee, you receive two complimentary Tenant Reports.If you need proof of income from your tenant, click the "Email request to tenant" button to email them a request for documents like recent pay stubs or a Notice of Assessment.Required documents checklistMake sure the files that you upload meet these requirements:Not password protected or corruptClearly visible and legibleClearly shows tenant’s full legal name on income documentClearly shows how much the tenant earns and the pay periodRecent within the last 30 days (unless paid over a longer pay period)You can complete the rest of your Rent Guarantee application even if you don't have the required documents at hand. If that's the case, click the "skip for now" button. Once you get a hold of them, you can go back and upload them.Step 3: Choose your payment optionNow that you’ve supplied the necessary information and documents, the next step is to choose your method of payment. There are two billing options: annual and monthly. The Rent Guarantee is 5% of the monthly rent when you pay annually. The fee is 5.5% of the monthly rent when you pay per month. SingleKey won’t charge the landlord until the Rent Guarantee application has been approved and the lease starts. Once you choose your preferred billing terms, specify whether you’ll collect the rent on your own or through SingleKey’s Rent Collection platform. Then click “Continue” to bring up a new page where you can view a copy of your Rent Guarantee service agreement, which looks like this: Make sure to review it to ensure all the information is correct and you understand how the Rent Guarantee works. Then, click the “Agree and continue” button to reach the check out page where you can make your payment.  Step 4: Submit your application Once you submit, our team will review your application to ensure it's complete and that your tenant qualifies for the Rent Guarantee. This typically takes one to two business days, but the more info we have, the quicker it is to approve.  Once approved, you’ll receive an email that contains a copy of your signed service agreement and confirmation of your acceptance in the Rent Guarantee Program.  After the Rent Guarantee is approved, you’re required to send SingleKey a copy of your signed lease agreement. The proper lease for your specific jurisdiction must be used. You can find the appropriate lease agreement template here.   Our final thoughts SingleKey’s Rent Guarantee is easy to apply for and offers the right financial and legal backups that landlords need to reduce their risks. If you have questions about your Rent Guarantee application, reach out to your dedicated Rent Guarantee team member. You can also book a call with our team to learn more about the program. --- ### Mastering a Mortgage Renewal: A Guide to Financial Confidence (Calculators Included) [Mastering a Mortgage Renewal: A Guide to Financial Confidence (Calculators Included)](https://www.singlekey.com/en/ownerkey/finance-management/mastering-a-mortgage-renewal-a-guide-to-financial-confidence-calculators-included/) Meta: Get a mortgage renewal calculator and other homeowner tools to understand how to navigate the mortgage renewal process. Date: August 1, 2024 Author: SingleKey Content: With 80% of mortgages outstanding as of March 2022 and set for renewal by 2024, homeowners are at a crucial point in their financial journey. Monthly payments might increase, so having the right resources is essential to make informed decisions and ensure financial stability. We sat down recently with Bruk Telahun, CEO and Principal Broker of Best Mortgage Solutions, to bring you key tips and tools to navigate mortgage renewals with confidence.What is a mortgage renewal? A mortgage renewal happens when your current mortgage term ends, and you can choose to renew with the same lender or switch to a new one. "It's like renegotiating your mortgage agreement,” says Telahun. “You review details like the interest rate and how long you'll have the mortgage, and then decide whether to stick with your current lender or find a better deal somewhere else. This is your chance to adjust your mortgage to better suit your finances or take advantage of new offers in the market.”Typically, mortgage renewals come up every few years, usually at the end of your mortgage term. Terms can be anywhere from one to 10 years, but five years is common.Renewal periods often start a few months before your term ends. During this time, you can talk with your mortgage broker about new terms to check out other lenders if you're thinking of switching. As Telahun notes, “It's a good idea to start thinking about your renewal well ahead of time so you have a chance to explore your options and make the best choice for your money.”Mortgage renewal calculator and other tools for homeownersHere are a few tools to help you navigate the mortgage renewal process and understand the costs of owning a property.What are the options to renew a mortgage?There are several options to consider when renewing  your mortgage: Renew with your current lenderYou can choose to stay with your current bank or mortgage lender and renew your mortgage under new terms that you agree upon together. For example, John has had a mortgage with ABC Bank for the past five years. As his term comes to an end, he decides to renew his mortgage with ABC Bank. They agree on a new five-year term with a slightly lower interest rate than before, which helps John save on his monthly payments.Switch to a new lenderYou also have the option to shop around and switch to a different bank or lender that might offer better terms, such as a lower interest rate or different repayment options. For example, Sarah's mortgage term with XYZ Bank is ending soon. She shops around and discovers that DEF Credit Union is offering a lower interest rate and fewer fees compared to XYZ Bank. Sarah decides to switch her mortgage to DEF Credit Union, which results in significant savings over the term of her mortgage. Adjust your mortgage termsDuring the renewal period, you can negotiate changes to your mortgage terms, like adjusting the length of your mortgage, changing from a variable to a fixed interest rate, or modifying your payment schedule to better fit your financial situation. For example, Mike's current mortgage has a variable interest rate, but he wants more stability in his payments. As his renewal approaches, he negotiates with his lender to switch from a variable to a fixed interest rate. This change gives Mike peace of mind knowing that his monthly payments will remain consistent regardless of interest rate fluctuations.“These options give you the chance to find the best deal and terms that suit your current financial needs and goals,” says Telahun. “It's important to explore these options and consider what works best for you before renewing your mortgage.”Deciding which mortgage renewal option is right for youDeciding which mortgage renewal option is right for you depends on your individual financial situation, goals, and preferences. Here are some steps to help you make that decision:Review your current mortgage: Understand your current interest rate, monthly payments, and any upcoming changes from your current lender.Consider your goals: Decide what you want from your mortgage renewal: lower payments, stability in payments, paying off your mortgage faster, or accessing equity in your home.Compare offers: Look at renewal offers from your current lender and explore options from other lenders to find the best deal on interest rates, fees, and repayment flexibility.Calculate costs: Use online calculators or ask lenders for estimates on how each option will affect your monthly budget and total costs over time.Assess risks: Understand the risks of switching to a different type of mortgage (like from fixed to variable rates) and how it aligns with your comfort level for potential rate changes.Seek advice: Consult with mortgage brokers for personalized guidance based on your financial situation and goals.Fit into your plan: Ensure your mortgage choice supports your overall financial plan, including savings, investments, and future financial goals.By following these steps, you can make a clearer decision about which mortgage renewal option best meets your needs and helps you achieve your financial objectives.Our final thoughtsMortgage renewals can be complex to navigate, but with the right tools, you can understand how much you can afford and ensure you’re planning wisely. Always seek advice from a mortgage professional to help guide you through the mortgage renewal process. Learn more about how to manage your rental property's finances with our resources. --- ### The Essential Student Housing Guide for Landlords [The Essential Student Housing Guide for Landlords](https://www.singlekey.com/en/ownerkey/finding-tenants/the-essential-student-housing-guide-for-landlords/) Meta: This comprehensive guide for student housing providers offers tips to attract student renters and effective tenant screening strategies. Date: July 25, 2024 Author: Mark Gregorski Content: The student housing market can be rewarding to pursue as a housing provider. Thanks to the ongoing demand for affordable student housing, there’s potential to earn a steady rental income. However, renting to students comes with unique challenges, so it's important to understand what you're getting into before advertising your property.In this comprehensive guide, we'll cover everything you need to know as a landlord renting to students, from tips to attract student renters to tenant screening strategies that work for this unique demographic. Understanding the student rental marketYou might wonder if operating student housing is a financially savvy move. The answer is "yes," according to a wide range of student rental market studies.Student housing demand in the U.S.The demand for student housing in the U.S. is expected to rise significantly in 2024 and beyond, due to a growing pool of post-secondary applicant: According to the National Center for Education Statistics, enrollment will increase by 1.1% annually from 2020 to 2031. This means an additional 1.445 million students will require accommodation, some of whom will seek out private rental units.Only about 22% of college students live in dorms nationwide, so there's a sizable market for off-campus housing. Student housing demand in CanadaOur data shows that demand for student housing has grown since the pandemic, and the outlook for the student rental market in Canada continues to look promising:International students drove a large part of the growth in the market, with enrollment among that population increasing from 617,000 in 2021 to 1,041,000 in 2023. Though demand for housing among international students may fall due to the federal government’s cap on study permits in early 2024, overall post-secondary education enrollment is still projected to reach 2.4 million in 2026-2027. The national rental vacancy rate fell to a record low of 1.5%, reflecting an overall demand for more rental units. Attracting student rentersWhen you enter the student rental market, you'll be competing not only with other property owners, but also with college dorm rooms, which offer many enticing features. Therefore, it pays to know what factors students value:LocationA convenient location for students means two things. The first is proximity to their campus, preferably within walking distance. The second is a wide range of local amenities, such as shopping centers, restaurants, laundromats, grocery stores, and public transportation. If your property checks both boxes, your rental will command attention from students.Basic furnishingsStudents, especially those from abroad, will appreciate a living space that offers basic furnishings, like curtains, chairs, and a dining table. By supplying these items, you can save them the money and hassle of buying them on their own.In-unit amenities The more amenities your property offers, the more interest it will garner from student renters. Appliances like microwaves, washing machines, and dishwashers are sought-after features. Other perks are balconies, air conditioning, storage space, and shared facilities, like a gym or swimming pool. A personal parking space is also highly coveted by students. SafetySafety is a critical concern for a student tenant, especially if this is their first time away from home. Secure your rental property with deadbolt locks, smart doorbells, alarms, and cameras.Flexible lease termsMany students value flexible lease terms that align with their academic calendar. The standard one-year lease may discourage them from applying to be your tenant, so consider offering a month-to-month lease. PrivacyA noisy and chaotic dorm doesn't appeal to all students—some people want peace and quiet. Market your unit as a cozy, calm living space with extensive amenities to appeal to those renters.How to price a student rentalHere are some things to consider when setting your rental price to ensure you attract quality student renters while staying competitive and profitable.Student budgetingMany students may rely on fewer financial resources to sustain their lifestyle while studying at college. That means they cannot afford to splurge. Put yourself in their shoes to understand how much rent they can afford. Be fair in pricing, but ensure their rent-to-income ratio is manageable (no more than 50%) to limit your risk.Local market demandLocation is a crucial factor in rent pricing, and student rentals are no exception. For example, suppose your property is near a busy campus. In that case, demand will skyrocket as the academic year approaches, so you can justify charging a higher rent fee. It's also important to assess the average rental rates in your neighborhood for properties that resemble your own. If your asking rate is too high, you'll discourage students from applying to be your tenant.Lease durationWhat type of lease term are you willing to accept? Let's say the local student rental market favors month-to-month leases. In that case, charging a higher-than-average fee is wise since your property may be vacant for part of the year. If a student is willing to sign a one-year lease, you can charge a lower price, as you're assured a recurring income for 12 months.RoommatesCan your rental property accommodate more than one tenant? If so, there's a good chance more than one student will express interest in living there. Since each tenant will be responsible for only a fraction of the regular rent, you can comfortably charge a higher fee per student.Co-signerWhen negotiating the price of rent with a potential student tenant, ask if they would be willing to have someone co-sign the lease agreement. Given students' limited credit history and income, a co-signer provides an extra layer of financial security, which you can consider when setting your rent price.The benefits of renting to studentsThere are many reasons why landlords find student housing rewarding:Steady incomeAs long as universities and colleges stay open, there will always be a need for student housing, especially considering that most students will prefer to live in a private rental near their campus. And that continuous demand translates to a dependable rental income. Potential for higher profitsYou can often charge a premium for rent if your property is in a highly desirable area, preferably near a college campus. The demand for quality student housing will spike as the academic year approaches, helping to boost your profitability.Lower vacancy ratesA combination of steady demand for rental units, referrals from past students, and university housing assistance programs will help you land a student tenant fast. And since young people are tech-savvy, they can quickly find your rental ad online, allowing you to set up interviews immediately.No-frills living spacesMost students are willing to consider various rental opportunities. They usually value convenience and a budget-friendly lifestyle, so they can focus on their studies and enjoy the social aspects of college life. As a result, there isn’t a great need for you to invest in pricey amenities and property upgrades.The challenges of renting to studentsDespite steady demand, the student housing market isn’t ideal for every landlord or property owner. Here are some of the main drawbacks of operating a student rental:Lack of credit historyStudents likely have little or no experience managing credit and paying bills. As a result, evaluating their ability to make timely rent payments and overall financial stability is a challenge.Money management issuesShrewd money management skills come with experience, which young people lack, given their age. They're more likely to overspend and rack up debt. As a result, there's a greater risk of student tenants falling behind on rent payments.Higher risk of property damageAs with money, students may be inexperienced with caring for a home, leading to garbage piling up and hazards such as grease fires. Through carelessness or ignorance, they may cause Disruptive behaviorIt's not uncommon for students to throw wild parties, play loud music, and stay up late at night, which can aggravate your neighbors. Complaints and arguments may ensue.While it’s wise to consider these pros and cons as a student housing provider, every renter is unique and every tenancy can involve unexpected situations. Learn more about the risks and rewards of renting to students.Screening student tenantsScreening students is no different than screening any other tenant, with some exceptions.Pre-screen with the right questionsEnsure you ask relevant questions to ensure the potential renter is a good fit. Find out about their move-in date, income, the number of people living on the property, and whether they require special amenities or accommodations. Remember to avoid asking questions prohibited by local human rights laws.Get supporting tenant screening documentsMake sure you get the rental applicant’s permission to run a credit check, and ask for past landlord and employment references, if applicable. Gather as many documents as you can to verify crucial details. These include pay stubs, bank statements, and phone bills. Students from abroad should be able to prove they are legally allowed to enter and study in Canada—ask them to provide proof of a study permit.The importance of a guarantorYou may have limited information to go by during the screening process: many students have a sparse credit profile, little to no employment history, and few credible references. Reduce your risk in other ways. For example, you can ask for a guarantor on the lease agreement, and explore guarantor services for renters, like SingleKey’s Tenant Passport.    Screening international students Knowing how to screen international student renters can be challenging, given the difficulty in obtaining foreign credit data. However, you can easily access and evaluate a rental applicant’s credit history from their home country with tools like SingleKey's International Credit Check. Our final thoughtsThe student rental market is poised for robust growth, thanks to a steady enrollment in post-secondary education and a shortage of suitable rental units. The key to succeeding with student renters is understanding their unique preferences and concerns, most notably affordability. Doing so will allow you to position your property to stand out among the competition and attract the best student tenants.Knowing how to appeal to your target market is essential to a thriving rental business—but so is tenant selection. Ensure you have a robust tenant screening toolkit to help you land the quality renter you deserve. --- ### Tenant Credit Checks: How SingleKey Safeguards Against Rental Fraud [Tenant Credit Checks: How SingleKey Safeguards Against Rental Fraud](https://www.singlekey.com/en/tenant-credit-checks-how-singlekey-safeguards-against-fraud/) Meta: Here’s how SingleKey's Tenant Report offers landlords the most reliable and accurate information when conducting tenant credit checks. Date: July 25, 2024 Author: Mark Gregorski Content: A credit report is one of the most valuable tools in your tenant screening arsenal. Despite all the helpful details a credit report offers though, it's only beneficial if it contains truthful and accurate information. Unfortunately, fraudulent reports are more common than you may think.For this reason, it's important to know your source of information when conducting tenant credit checks. Here's how independent providers like SingleKey can help you effectively screen rental applicants and avoid rental fraud schemes.The importance of tenant credit checks and credit report verificationWith today's technology, it takes minimal time and effort to forge the documents required for a rental application. A wide range of software applications and DIY templates are available online that allow anyone to create all kinds of fake documents. These include a driver's licence, pay stub, bank statement, and, of course, a credit report. The growing prevalence of AI tools like ChatGPT also makes writing fake reference letters a breeze. You can spot fake rental application documents if you know what to look for, but that requires extra steps and manual effort. The other option is to run your tenant credit checks with third-party services and get your credit reports from a reliable source like SingleKey. A credit report directly from trusted credit bureausAll the financial data found in SingleKey's Tenant Report comes directly from Equifax and TransUnion, two of the largest consumer credit reporting agencies. Therefore, you can be confident that the information comes from a trusted source. The Tenant Report has a "Date of report" field at the top right-hand corner, which helps you know when the applicant’s information was pulled and if that data is current.Once you order your report, it's delivered to you directly—never to any other individual. You can rest easy knowing that no one has tampered with it. After submitting a few details about your applicant, you'll receive the report within minutes in your SingleKey account. The Tenant Report includes a wealth of financial details about your applicant, such as:Credit scoreTotal balance owing on each loanCredit limits for credit cards and lines of creditPast due amountsLate paymentsTotal monthly payment amountsPercentage of available credit usedList of creditorsCredit inquiriesList of accounts in collectionsBankruptciesCourt judgmentsHere’s a sample of SingleKey’s Tenant Screening Report and a guide on how to order a Tenant Report.Preventing identity fraud with ID Verification r SingleKey’s ID Verification is a built-in feature of our Tenant Screening Report that reduces the risk of identity fraud. When completing a rental application through our platform, the applicant does a liveness check (selfie) and takes a picture of their personal identification card. Our system will then check if their selfie matches the photo on the ID. The ID Verification feature also extracts all of the personal details from the ID and ensures that the name and date of birth match what was entered in the rental application.Validating rental and employment historyWith our Tenant Report, you gain access to relevant details about your applicant directly from verifiable sources. As a result, you can cross-reference these facts with the information that was submitted on the rental application form.Previous and current addresses The Equifax or TransUnion portion of the Tenant Report contains addresses of the tenant's current and past residences. You can easily compare this information with the details provided on the application form.  Employment historyThe Tenant Report scans thousands of publicly available databases to retrieve information about your potential tenant. These may include details about their employment history. The credit bureau section also lists their current employer. Mac's Pro Tip If there's a mismatch between the information on the credit report and the rental application, that’s a red flag that you should investigate further. Our final thoughtsA credit report is a valuable document to use when performing tenant credit checks. It provides a detailed snapshot of their financial stability, allowing you to assess their ability to keep up with rent payments.Remember to take precautions to ensure the credit reports you receive are reliable, accurate, and timely. The sad reality is that there are plenty of ways to falsify credit reports. With dependable third-party sources like SingleKey, you’ll get a comprehensive credit check courtesy of Equifax or TransUnion. It's delivered directly to you, so there's no chance for anyone to alter it beforehand.The data in the Tenant Report is also accurate and current, so you can rely on it to confirm your applicant's identity, verify their employment history, and check their landlord references. All of this arms you with the best information to make an informed decision when you select your new tenant.  --- ### How to Find Good Tenants in 5 Easy Steps [How to Find Good Tenants in 5 Easy Steps](https://www.singlekey.com/en/ownerkey/finding-tenants/best-practices-for-finding-good-tenants/) Date: July 2, 2024 Author: Mark Gregorski Content: Finding your ideal renter can be stressful and time-consuming, especially if you’re new to property management. However, deploying a few proven strategies can significantly increase your chances of acquiring a quality tenant. Follow our step-by-step guide and learn how to find a good tenant who is more likely to pay rent on time and help you maintain your rental unit. Step 1: Write a rental listing that stands out Creating a compelling rental listing is the first step in finding the right tenant for your property. The right mix of words and photos will make it stand out from countless other listings.   A well-crafted ad also helps you set expectations for potential tenants, so embrace your inner salesperson and write a listing that sparks interest in renters. Here are some of the elements of an effective rental listing: Eye-catching headline. Give them a reason to stop scrolling and click on your ad. A memorable headline ensures you have a chance of acquiring a quality tenant.  Detailed property description. Don't leave potential tenants guessing about what to expect when they move in. Highlight your property's features, amenities, and perks, and note any recent upgrades or renovations.  Professional photos. Make sure your ad contains plenty of images that showcase your rental in the best light. Professional photos make a solid first impression with prospective tenants, so never skimp on quality. Terms and expectations. When do you anticipate your property being move-in ready? What's the duration of the lease agreement? These are just some of the details renters like to know before they inquire further about a property, so remember to disclose them in your ad. Also, mention the rent amount, the security deposit required, and whether the monthly fee includes utilities. When your ad is ready, list it on one of the many online rental platforms to garner the broadest possible exposure for your rental. Step 2: Pre-screen potential tenants After hearing back from renters through your ad, the next step is to ask them a few pre-screening questions to get to know them better. Pre-screening potential tenants is crucial because it helps you narrow down the applicant pool. You can then focus on those who show genuine interest in your rental and meet your minimum qualification criteria. This approach to vetting candidates will save you time, effort, and money.  An effective pre-screening interview means asking tenants the right questions. The aim is to learn about the applicants' lifestyle, goals, habits, and financial situation to determine if they're a good fit. Some key areas you should inquire about include: Their monthly income (to determine whether they can afford to rent out your unit) Their preferred move-in date (to know how quickly to arrange the proper paperwork and tidy up the premises) The number of people who will occupy the property (to determine if your rental can accommodate everyone and ensure compliance with housing regulations) Try a free pre-screening form like SingleKey’s to help you get the information you need from potential tenants quickly.  Step 3: Use a comprehensive rental application The next step is to provide a rental application form to each candidate who passed your pre-screening interview. The information you request should cover the following:  Name Current address Date of birth Contact details Credit score Income Personal identification (driver's license, passport, etc.) A thorough rental application includes written consent from the applicant for you to run a credit check, as well as key details about them, such as:  their desired move-in date if there are co-applicants proof of income employment history and employer references rental history and landlord references if they have pets and vehicles Luckily, there’s no need to create a rental application from scratch. You can download SingleKey's rental application form and learn more about how to streamline the rental application process. Step 4: Implement a thorough tenant screening process The tenant screening process is where you get the chance to do some detective work. It involves evaluating a potential tenant on several criteria, including their credit history, previous and current employment, and rental history. If done properly, tenant screening can help you uncover red flags you'd otherwise overlook and provide you with a well-rounded view of an applicant. You can then determine whether they’ll be able to fulfill the terms of your lease and take proper care of your property.   Admittedly, screening a tenant can take a lot of time and effort. For this reason, tenant screening services like SingleKey come in handy. You’ll get access to a wide range of data without having to search and collect it manually. Plus, a tenant screening service offers objective and reliable information about a potential tenant.  Learn more about the benefits of using SingleKey's tenant screening to help you find a quality tenant for your rental.  Step 5: Check employment and landlord references The final step in finding a good tenant is checking their references. In particular, you'll want to verify their current employer and speak with their previous landlords.  There are two reasons to look into an applicant's employment status. The first is to confirm their identity, as renters can submit false documents to boost their chances of qualifying for tenancy. The second is to learn if they currently work at the job they've listed on their rental application and earn the income they say they do.  Speaking with previous landlords accomplishes similar goals. You can cross-reference the details from the rental application, and note any mismatches in the information provided. You can also dig further into a potential tenant's character and background. A frank discussion with a previous landlord can help you learn the following: Were they cooperative or combative when responding to reasonable requests? Did they pay rent on time? Did they keep the premises clean? Were they rude or disruptive to their neighbors? Our final thoughts Keep in mind that connecting with a quality tenant is a marathon, not a sprint. So be patient and invest the time and effort into finding someone who you’d be happy to accommodate for the long run. Sometimes, it may be worth losing a month of rent due to a vacancy to ensure you find the right renter. In doing so, you could minimize the risk of late rent payments, nasty disputes, costly property damage, and drawn-out evictions.  Learn more about red flags when tenant screening and what to look for when considering your rental applicants. --- ### How to Pre-screen Tenants Using SingleKey [How to Pre-screen Tenants Using SingleKey](https://www.singlekey.com/en/tenant-report/how-to-pre-screen-tenants-using-singlekey/) Date: June 24, 2024 Author: SingleKey Content: Pre-screening a rental applicant is an easy way to gather basic information and gain quick insights about a potential tenant before running a credit report on them. It’s a useful strategy in a landlord’s toolkit, especially when there are multiple rental applications. SingleKey offers a free tool that allows landlords to pre-screen their tenants by using a customizable form. Here’s a quick guide on how to use this simple yet powerful feature. Step 1: Log in to your accountLog in to your SingleKey account and click the Pre-Screen option at the top of your screen. Step 2: Customize your formNear the top of the page, select the Preview form button. This will take you to a new screen with fields on the right-hand side to toggle on and off. Decide from a variety of criteria, such as household income range and source of income, to include on the pre-screening form. Once you’ve finished customizing the form, click the blue Save & close button to save it for all future tenant pre-screenings.Step 3: Invite the tenant by email or by sharing the linkNow that you’ve customized your pre-screening form, click the blue Get started button to invite a potential tenant to complete it.A modal will pop up to set up the invite. Choose your rental unit from the first drop-down menu, or add a new property. Next, select how you'd like to send the invite(s). You can enter up to five tenant email addresses to invite, or copy the link to share directly with tenants, or to embed into your rental listings.Step 6: Manage the status of pre-screeningsOnce you send a pre-screening invitation, the tenant will receive an email within minutes from SingleKey requesting that they complete the form. Through your SingleKey dashboard, you’ll be able to see which applicants haven’t filled out their pre-screening form yet and decide if you’d like to send them a reminder. Our pre-screening tool also has search and filter options, so you can find applicants quickly by their name, address, email, the date the application was sent, or by your rental unit’s address. Step 7: Select your top candidatesAs pre-screening forms are completed, you can easily sort rental applicants by credit score and income.Narrow down your top choices and choose which prospective renters to continue screening by running a full credit report on them.Our final thoughtsTaking a layered approach to screening when filling a vacancy is the best way to secure a reliable tenant. This strategy begins with pre-screening your rental applicants with an online platform like SingleKey. You’ll reveal important details, like a person’s employment status and income, and arm yourself with all the information you need to decide who to move forward in your tenant screening process.For more advice on what to look for when choosing a new tenant, check out this article on How to Screen Like a Pro. --- ### Achieving SOC 2 Compliance: How SingleKey Protects Your Data [Achieving SOC 2 Compliance: How SingleKey Protects Your Data](https://www.singlekey.com/en/ownerkey/announcements/achieving-soc-2-compliance-how-singlekey-protects-your-data/) Meta: Here's how SingleKey gained our SOC 2 Type 2 certification and how our SOC 2 compliance ensures our users' data is managed securely. Date: June 23, 2024 Author: SingleKey Content: Whether you’re shopping on your favorite site, completing an e-transfer, or downloading an app, it’s become standard practice to enter some form of personal data online. And with the amount of information that’s being collected every day, it’s just as common to hear about large-scale hacks, leaks, and other data breaches.Because of these risks, SingleKey takes your data protection and security seriously. That’s why we’ve taken the extra step to become SOC 2 Type 2 compliant, one of the highest acknowledgements of data security compliance in the world. With the help of our partners at Johanson Group, here’s how we earned our SOC 2 certification and how we’re keeping your data safe.What is SOC 2?Developed by the American Institute of Certified Public Accountants (AICPA), the System and Organization Controls (SOC) is a security framework that ensures organizations are managing and protecting their users’ data responsibly. Among the types of SOC reports that are used to measure how well each organization meets the AICPA’s security standards is the SOC 2.There are two types of SOC 2 reports: SOC 2 Type 1 and SOC 2 Type 2. While Type 1 assesses security systems and controls at one point in time, Type 2 evaluates how effective a data security infrastructure is over several months. Gaining SOC 2 Type 2 certification is therefore a more intensive process and is regarded as one of the most rigorous data security compliance standards. Becoming SOC 2 compliantTo be recognized as a SOC 2 compliant company, we went through an extensive, third-party audit to make sure we met all the SOC 2 requirements. These requirements are defined as the Trust Services Criteria (TSC) and they cover five key areas: SecurityAvailabilityProcessingIntegrityConfidentialityEnsuring we exceeded these criteria meant updating security policies, procedures, and infrastructure across the entire company and continuously monitoring compliance according to the SOC 2 standards.  How we’re protecting your dataAchieving SOC 2 compliance demonstrates our commitment to our users’ data security. This means SingleKey has:the ability to identify security incidents across our organization,validated data security controls to protect your information from unauthorized access, and comprehensive procedures to address any security issues quickly and effectively with little impact to our users.This also means that any data integrations through partner API plugins for features like automated tenant screening are protected. Our SOC 2 Type 2 compliance ensures that we have the controls in place to manage and safeguard data against any potential security threats. Because SOC 2 is one of the highest industry standards when it comes to data protection, you can feel confident knowing our platform is secure. Our final thoughtsSingleKey’s relationship with our customers is built on trust, and becoming SOC 2 compliant is just one way we’re safeguarding that trust. To learn more about data security and the SOC 2 standards, visit the AICPA site. --- ### Decoding the SingleKey Tenant Screening Report [Decoding the SingleKey Tenant Screening Report](https://www.singlekey.com/en/ownerkey/tenant-screening/what-does-a-rental-background-check-consist-of/) Meta: Discover what a rental background check consists of and how the data found in a tenant screening report can help landlords find their ideal tenant. Date: June 3, 2024 Author: Mark Gregorski Content: An in-depth vetting process is critical to establish when screening a new tenant. This includes running a credit check and tenant screening report from a trusted source like SingleKey to reveal a person’s financial stability and suitability as your tenant. In this article, we’ll break down each part of a SingleKey Tenant Screening Report and how you can use this valuable information to decide who deserves the keys to your rental. Follow along for a top-to-bottom review of a sample report, or jump to a specific section using the links below. Tenant Screening Report sections The summaryThe top part of the summary section includes key information about the rental property, including: the rental addressrent amountthe move-in datethe date the report was generated the applicant's namean approve/decline buttonan option to download the PDF version of the Tenant Screening ReportMetrics and QR verificationCredit score: This is the overall credit score for the applicant. A more detailed breakdown of what makes up this score is available in the credit section of the report.Monthly debt payments: This is the sum of the total monthly debt payments from all outstanding debt and credit tradelines from the credit report. Heavily indebted renters may experience more challenges paying rent on time. Rent-to-income ratio: This financial metric is calculated using the household’s income and measures how much of that income goes toward rent. It’s expressed as a percentage of their monthly income. In an ideal situation, approximately one-third of a household’s monthly income should go to rent. Generally, the lower the rent-to-income ratio, the less likely the tenant will default on their rent payments.Positives and warningsHere, you'll find a summary of the report's key findings about the applicant, both positive and negative. You can use these facts to assess their suitability as a tenant quickly and see what areas require further investigation.  Mac's Pro Tip Never rely solely on a few key highlights to guide your decision on whether to accept or reject a tenant. Dig into the details to uncover further information and interview the individual to understand their circumstances. Always consider the bigger picture.Applicant overviewThe details in the applicant overview give you basic information about the individual, such as their employment status, job title, personal income, household income, pets, vehicles, and the number of people expected to occupy the rental. There may also be a note that confirms that their employer info matches the credit bureaus' records.Credit overviewThis section summarizes the most crucial points from the applicant's credit check. It usually contains the credit score, monthly debt payment size, total debt owed, and negative remarks, such as bankruptcies and accounts sent to collection agencies.Public record overviewIn the public record overview, you’ll find the results of a scan of publicly available information related to the applicant. If their history includes items like problematic behavior, court appearances, or criminal activity, a "warning" icon will appear. If there are no results from the public scan, they'll be marked as "cleared." Mac's Pro Tip This check is dependent on whether specific databases are available online. Databases like the RTDRS in Alberta and the LTB in Ontario remain unavailable at this time.Rental applicationThis part of the Tenant Screening Report is the actual rental application form that the tenant has filled out. This information comes directly from the applicant. Personal detailsHaving an applicant's full name, phone number, date of birth, email address, SSN/SIN (last few digits if completed by the applicant), and driver's license number will help you verify that the person is who they say they are. Mac's Pro Tip A driver’s license or SIN number provided by an applicant is a unique identifier that ensures a positive hit when matching a credit check to the individual.Address historyThis section notes the applicant's current residence, how long they've lived there, and their reason for moving. If the applicant is a renter, you'll also find their landlord's name, contact information, and monthly rent here.Previous addressThis section outlines the tenant's past residences, including addresses and landlord contact details. This information will come in handy when you conduct a landlord reference check.A green checkmark with “Matches Bureau” in this section means that the rental address matches the reported address from the credit bureau. This gives you a high degree of confidence that the address provided by the applicant is accurate.  Landlord referencesAn automatic survey is sent out to the landlord’s email provided by the tenant in the rental history section. If everything comes back positive, take this with a grain of salt, because the applicant could have used someone else to provide a positive reference. If the reference comes back with less than five stars and with critical comments, then you likely have a legitimate landlord reference, and now you have more information to make an informed decision about the applicant. Mac's Pro Tip It’s always best to use the previous landlord reference over the current landlord because they’re usually unbiased. If the current landlord is in a difficult situation with your potential tenant, they may provide a misleadingly positive reference. Current employmentThis section contains the applicant's current employment details. It usually lists the name of their employer's organization, their employer’s job title, the length of employment, and whether they work full-time or part-time. You'll also find the contact details of their supervisor or another job-related reference. All of this information will be helpful when doing an employment reference check.The tenant’s employment data matches what was reported to the credit bureau when you see the green “Matches Bureau” checkmark. Income This part of the tenant screening report lists the applicant's personal and household income before taxes. It’s one of the most critical factors to consider when deciding whether to accept someone to be your tenant. There’s usually an accompanying note specifying the documents the applicant has submitted as proof of income. These documents may also be attached to the report. OccupantsIf additional people are moving in with the applicant, their names, contact information, share of the rent, and other key details will be listed here. Co-signer (Guarantor)If necessary, the applicant will provide the name of their co-signer or guarantor and how to contact them. It’s important to vet the co-signer as you would a rental applicant, as they’re taking financial responsibility for the primary applicant. PetsHere, you'll find details of any pets who will live with the applicant in the rental, such as the animal type, breed, and weight. VehiclesKnowing whether a tenant owns a car is helpful to ensure you can accommodate them with a parking spot. If applicable, you'll find basic information about their vehicle here.Additional informationThis section usually lists any other facts about an applicant not found anywhere else in the report. Depending on what information they have chosen to disclose, you'll know whether they smoke, have declared bankruptcy, provided their current landlord with proper notice, or have been convicted of a serious crime. They’re also given the opportunity to explain their answers further here. Mac's Pro Tip How the applicant answers the question, “Have you given notice to your landlord?” is a good indicator of how you will be treated as well. Ensure that their notice complies with the legal requirements in your jurisdiction and is not provided at the last minute. Personal message from the tenantThe applicant will disclose additional information here or include links about themselves.  They may also comment on your rental. Uploaded by the tenantYou’ll find a collection here of all the files uploaded by the applicant. These may include their government-issued ID, pet photos, bank statements, pay stubs, and a work permit. The applicant is free to add any documentation they want or that you request. Each preview contains a thumbnail, file name, category tag, and file size. You can choose which document types are mandatory or optional.Applicant consentIn most jurisdictions, this is required before you can conduct landlord and employment reference checks. You would be expected to produce this confirmation before another party discloses any personal information about the applicant. By checking this box, the applicant provides their consent and guarantees the information they've supplied you with is truthful and accurate. Credit reportThis part of the tenant screening report is taken directly from the credit bureau. SingleKey users may choose credit checks from Equifax, TransUnion, both of these bureaus, or Nova Credit when screening international tenants. You can find out more about the difference between Equifax and TransUnion credit reports here.   At the top left of this section, you’ll see a three-digit credit score, which measures creditworthiness. The credit score range for Equifax, TransUnion, and Nova Credit is 300-850. The score shows the likelihood that the individual will pay their bills on time, which includes rent. While a high score may indicate a low risk in accepting the applicant as a tenant, remember that this score captures one moment in a person's financial history. It doesn't represent their full financial track record.Errors and warnings  This section includes critical warnings that require further investigation. This is where instances of credit fraud, identity theft, or disputes with the credit bureau will be reported. This part of the tenant report is also where you may see a "NO HIT" error. This means that the credit bureau didn't return a match on the applicant’s credit profile. If you see this error, verify that the tenant’s information has been entered correctly. Addresses These are the billing addresses reported to the credit bureau by various companies. For example, you’ll find the billing address for a cell phone service here. EmploymentIf an individual has given a creditor information about where they work, those employment details will be listed in this section. Lenders typically ask for employer information on credit applications to help verify a person’s identity, but they're not obligated to report this history to the credit bureaus.Debt summaryThis section summarizes all of the outstanding debt or credit utilized by the individual. It’s broken into two categories:Monthly debt paymentsTotal debt owingEach category lists related tradelines and the loan details for a specific tradeline.  TradelinesA tradeline is a credit product obtained by the individual. Tradelines include revolving credit, like credit cards and lines of credit, and installment loans, like mortgages and vehicle loans. Key details to consider are the total utilization, months reviewed, and past due and late payments buckets (30,60,90). The tradelines are color coded as follows:Green (good): Paid as agreed and up to dateYellow (caution): Overdue account, at least 120 past dueRed (bad) - Tradeline written off and sent to collectionsLocal and foreign inquiriesBankruptcies, collections, and miscellaneousThis section contains various reported alerts. Some of the most common ones to be concerned about are bankruptcies, collections, and judgments. Any hits here warrant further investigation by the homeowner or property manager, as these are in most cases negative indicators.  Mac's Pro Tip Note that not all jurisdictions make their judgments, collections, and similar details available online. Just because a section comes back as “no hit” doesn’t necessarily mean that there is no data out there.Public record searchThis section includes information about an applicant's background gathered from publicly available sources. Details may include everything from past employers to court decisions and social media posts. Keep in mind that the public record search is a real-time scan of 110,000 databases from over 240 countries to collect criminal records, court decisions, negative press, social profiles, public biographies, and past employment data. Not all of this information is accessible to the public. If a criminal record turns up in this part of the report, speak to the tenant before you disqualify them outright. You may also want to consider factors such as the nature of the offense, how long ago it took place, and whether the tenant's presence will threaten you and your neighbors. Mac's Pro Tip Always cross-reference the information you get from public records with the details provided by the applicant on their rental application form and during the pre-screening interview. If there are significant discrepancies, the applicant may be trying to deceive you.Our final thoughtsA credit report is full of valuable information about your rental applicants. Learn more from The Financial Consumer Agency of Canada about understanding credit scores and credit reports. When interviewing a potential tenant, it's perfectly acceptable to consider your gut feelings about them. How they respond to your questions can reveal crucial details about their intentions and trustworthiness.However, you can't always spot warning signs during an interview or through self-reported information on a rental application form. That's why conducting a thorough rental background check is vital in your screening process.  Explore this video walkthrough about how to interpret a SingleKey Tenant Report to spot potential red flags.  --- ### An Expert Guide to Advertising and Listing Your Rental Property [An Expert Guide to Advertising and Listing Your Rental Property](https://www.singlekey.com/en/ownerkey/finding-tenants/an-expert-guide-to-advertising-and-listing-your-rental-property/) Meta: Find out how to advertise a rental property with strategies on writing a compelling rental listing and improving it to attract more tenants. Date: May 23, 2024 Author: MacKenzie Wilson Content: Several steps are involved in finding a solid tenant, but it all starts with getting your rental property noticed. And that means crafting a compelling, attention-grabbing ad that motivates potential tenants to line up at your door. Creating a rental ad that stands out among the sea of listings is no small feat—and as a long-time landlord, I can attest to that. How do I write a title that spurs renters to click on my listing? What details should I mention? How many photos should I include? These are just some of the questions you may have.In this guide, I'll share some of my proven strategies for creating a rental ad that gets noticed and sparks interest from quality tenants. Write an engaging titleThe title is the most critical part of your rental property listing. It's the first thing a tenant sees when searching for their ideal property. And it takes only a split second for them to decide whether to click on your ad or keep scrolling.Therefore, make your title as inviting as possible. It needs to be memorable.First, communicate your rental property's most noteworthy features and benefits. Put yourself in the shoes of a renter: what matters most to them?Second, keep it short. People aren't reading rental ads for fun: they're seeking confirmation that the property offers what they want. While there's no optimal length, pay attention to any character limits on your chosen listing platform. Third, use evocative language that provokes positive feelings. Words such as "spacious," "luxurious," "charming," "elegant," and "picturesque” are all great choices. Lastly, read it out loud. Does it make sense? Does it accurately reflect your property? Does it make your place sound like it could be an amazing new home? If not, rework it. If so, well done: you’ve got a solid start to your rental listing.Here's an example: "Spacious 3-bed/2 bath detached home just minutes from downtown."Emphasize the most important property featuresI've found that the following features matter most to the average renter, and in turn, incentivize them to view your ad:The rent priceNumber of bedroomsNumber of bathroomsProperty type (apartment, townhouse, detached home, etc.)Square footageProperty locationKey amenities and standout perks (e.g. nearby transit and high ceilings) It’s also worth mentioning if you've done extensive upgrades to your property. For example, when describing your space, you could say "recently renovated detached home" instead of "detached home."Correct your spelling, grammar, and punctuation Spelling, grammar, and punctuation mistakes will make your rental listing look less professional. Always proofread your ad, especially the title, before posting it on a rental listing platform.Avoid excessive use of exclamation points and all-caps text. It's a myth that this writing style attracts more views. In fact, these characteristics are often associated with scams, meaning people are more likely to skip your ad. I also don’t recommend using emojis, slang terms, and certain abbreviations (e.g., "thx" instead of "thanks"). You’re presenting a new home to a prospective resident who will hopefully take care of your property—not texting your friend.If writing isn't your strong suit, many online tools, such as Grammarly and Google Docs, can help you spot and fix these mistakes. You can also use AI chatbots like ChatGPT. The free versions of these tools are more than enough to help you create an error-free rental listing.Craft a compelling rental listing descriptionThe rental listing description is where you showcase your property and give renters a better sense of its offerings. Here, you can expand on the features highlighted in your title and add details about your lease terms. Be precise when describing each aspect of your property. For example, you can mention the flooring material in each room (hardwood, laminate, etc.) and the type of available appliances. You can also explain what renovations the premises have undergone. Local amenities, such as nearby schools, access to public transportation hubs, shopping districts, and dining options, are worth mentioning, too. As with your title, choose persuasive descriptors to paint a welcoming picture. For example, instead of writing “a large kitchen," you could say, "a spacious kitchen perfect for home-cooked meals." Keep your description brief and to the point. No one wants to read a wall of text when viewing a rental ad. The rental listing description is also where you should provide details about your lease requirements, such as:The date the property is available for rentThe rent fee and whether it includes utilitiesThe security deposit amount, if requiredAny additional feesWhether your property accepts petsWhether smoking is allowed in or near the propertyThe lease terms (12-month minimum, month-to-month, etc.)Rental application and credit check requirementsParking accommodation, if anyYour contact detailsThe goal behind a rental property description is to help you generate interest from renters who meet your criteria. Mentioning your stance on pets, lease term expectations, and credit checks will allow you to weed out unsuitable candidates early on, saving you time when screening potential tenants.Stay within the letter of the lawWhen writing your rental ad, always consider the tenant screening regulations in your jurisdiction. In particular, you must comply with anti-discriminatory laws, which prohibit landlords from favoring one tenant over another based on certain protected traits. Some examples are religion, place of origin, age, gender, gender identity, physical disability, marital status, and sexual orientation. In Canada, anti-discrimination regulations are outlined in the Canadian Human Rights Act and provincial Human Rights Acts. Similar laws exist in the United States under the Fair Housing Act (FHAct) and state and local legislation.Violating these laws can lead to fines and lawsuits, so become familiar with them. Even seemingly harmless comments, such as noting that your rental is "perfect for a family," can be construed as discriminatory. So, avoid mentioning or alluding to these characteristics entirely.To learn more about tenant screening laws, check out these guides for Canada and for the U.S.Invest in high-quality photographyI always recommend that landlords invest time and money into taking high-quality photos that showcase their rental in the best possible light. The right images will make a solid first impression with renters, so much so that they can't help but request an in-person viewing.So, how do you take stellar photos of your rental? Here are some tips:Tidy up before starting. Dirty laundry on the floor and paint peeling off the walls are simply unappealing. Clean the premises to ensure your property looks presentable. When people view these images, they’re subconsciously visualizing themselves living there.Stage the space wisely. Use high-impact decorations, such as plants, pillows, throw blankets, rugs, and artwork, to create a homey and inviting atmosphere. Capture all the rooms in your unit. Your property's photos should offer a complete view of your unit, including the kitchen, bathrooms, and bedrooms. Remember to include the laundry room, balcony, hallways, and closet spaces. Use proper lighting. Take the photos on a sunny day to make them look bright and pleasant. Ensure each room is well-lit and open the curtains and drapes to let the natural light shine through.Choose wide angles. Take photos from wide angles so that renters get a clear perspective of the space’s dimensions, size, layout, and features. Use a tripod. A tripod will keep your camera steady, helping you avoid taking blurry photos.How many photos should you take? That depends on your property type and size. However, anywhere from ten to twenty is a good target.Taking first-rate photos requires a lot of skill and patience—it's definitely harder than it looks. If you're not confident about doing the job, consider hiring a professional photographer.Where should I list my property for rent online?You're spoiled for choice when it comes to rental platforms. When evaluating your options, there are several criteria to take into account, including the following:Price. Can you post an ad for free? If not, do you have to purchase a monthly subscription, or can you pay a one-time fee for every ad you wish to list?Images allowed. How many photos can you upload with your ad? In general, the more, the better, especially if you're renting out a sizable property. User base. How many people access the platform on average during a month? Is the platform catering to a specific audience (students, families, retirees, etc.)? How likely are you to attract your ideal tenant from the platform?Flexibility. How easy is it to update your rental ad? If you anticipate tweaking your ad regularly, avoid platforms that require you to submit formal requests to make changes.Rental fraud protection. Some platforms are rife with dishonest tenants, including those looking to commit fraud. Research a site's reputation through online reviews and assess its security measures before posting your ad.Ease of use. Take the site for a test drive to see how intuitive it is and whether it's prone to glitches.If you're new to the rental industry, selecting the right platforms to list your ad can be daunting and time-consuming. We’ve reviewed some of the top online rental platforms to save you time and effort. Pro strategies to advertise your rental successfullyLeverage social mediaConsider sharing your listing on various social media platforms to maximize your odds of connecting with quality tenants. It's a convenient way to market your rental to a broader audience and hold conversations with prospective tenants. And it won't cost you anything to get started.Social media also offers more flexibility and opportunities to showcase your rental. You can upload as many photos and post as much content as you wish to emphasize your property's perks. You can also create engaging graphics and short-form videos.Using strategic hashtags is another way to spread the word. Choose hashtags that are relevant to your property. For example, if you're looking to rent out your lavish condo downtown, you could use the hashtag #luxurycondo or #downtownluxurycondo.In addition to free posts, you can use paid advertising to give your rental listing an extra boost. This means it'll be displayed more prominently across the platform, and as a result, get more views. Many social media platforms, including LinkedIn, Instagram, and Facebook, offer paid advertising options.Optimize your rental listingAdvertising is as much an art as it is a science. That means it’s impossible to know in advance which combination of words and photos will draw in the most renters and generate quality leads.Continuously tweak your ad after launching it until you get a decent pool of applicants. Put it out there, measure its success, and brainstorm ways to improve it. This step-by-step guide to get a results-driven rental ad will help you improve your listing's performance.Our final thoughtsIf you're in the residential rental business, you need to master the art of advertising. It can take a little practice to do it well, so don't get discouraged if your ad fails to amass views and generate leads immediately. Be patient, monitor your results, and optimize your ad.If you already have a decent number of rental applicants, the next step is to find out more about them to see if they're a good fit for your property. Use this list of questions landlords should ask potential tenants to ensure you’re covering all of the bases during your tenant pre-screening process.  --- ### What is an R Code? Credit Report Codes Explained [What is an R Code? Credit Report Codes Explained](https://www.singlekey.com/en/ownerkey/tenant-screening/what-is-an-r-code-credit-report-codes-explained/) Meta: Learn the definitions of credit report codes like an R code and why they are important for landlords to understand when assessing potential tenants. Date: May 21, 2024 Author: Mark Gregorski Content: As a landlord, it's crucial to analyze a rental applicant’s credit report before considering them as your tenant. You may have seen codes like "R2" and "I5" and wondered what they mean.In this guide, we'll explain the most common credit report codes, what they represent, and why they matter to you as a housing provider.What are credit report codes?Credit report codes, or credit ratings, are unique combinations of a letter and a number that credit bureaus use to describe how and when individuals make debt payments. Some lenders and creditors also use these ratings when providing financial information to credit bureaus.In other words, credit report codes grade an individual's payment history, which has a major impact on their credit score. As such, lenders heavily rely on these codes to help them decide whether to loan money to a borrower. Landlords also use them to understand a potential tenant's ability to handle rent payments.Credit report codes definedThe letter in a credit report code describes the type of credit product the individual uses, and the number represents the account's payment status. Below are the most common codes and what they mean:LetterType of AccountExampleOOpen status credit. The individual can access credit at their discretion up to a predetermined credit limit. Payments will vary based on the amount borrowed and the lender's terms.Line of creditRRevolving credit. The individual can borrow money up to a predetermined credit limit. Payments will vary based on the amount borrowed and the lender’s terms.Credit cardIInstallment loan. The individual borrows money for a specific period and repays the balance through fixed payments.Car or student loanMMortgage loan. A mortgage may not always appear on a credit report. Mortgages are repaid through regular fixed payments based on an amortization schedule.Residential mortgage NumberDefinitionInterpretation0Approved and opened recently so there’s no payment history to reportNew account1Paid off within the agreed-upon time period (usually within 30 days of the billing date)Very good2Payment made between 31 and 59 days lateNote and assess with other tenant screening criteria3Payment made between 60 and 89 days latePotential red flag4Payment made between 90 and 119 days latePotential red flag5Payment made more than 120 days latePotential red flag6This code isn’t used by credit bureausN/A7Regular payments made under a consolidation order, consumer proposal, or debt management program (DMP)Red flag8Lender is attempting to repossess the borrower’s assets to cover the amount owedRed flag9The debt has been written off, sent to a collection agency, or the borrower has filed for bankruptcyMajor red flagLet's say you're evaluating a rental applicant's credit report and see the code R1. That means the individual has a credit card and is making on-time payments. What if you discover an I4 code? In that case, they're responsible for some installment loan, perhaps a car loan, and they made at least one payment between 90 and 119 days late.As you can see, the lower the number associated with an account, the better the individual is at meeting payment deadlines.Why is understanding credit report codes important?Understanding credit report codes can help you assess a tenant's financial stability.  Do they pay their bills on time? If not, how often do they fall behind on payments? Is it one specific account that's giving them trouble, or all of them?Credit report codes can provide you with answers to these questions during the tenant screening process. As a result, you may have a better shot at finding a renter who can meet their financial responsibilities.Our final thoughtsCredit report codes are a handy shortcut for learning about an individual's payment history. They’re part of the many factors that help determine if your prospective tenant will be able to make timely rent payments. Learn more about how to read a credit report to help you find a great tenant for your rental. --- ### Equifax vs. TransUnion: What a Landlord Needs to Know [Equifax vs. TransUnion: What a Landlord Needs to Know](https://www.singlekey.com/en/tenant-report/equifax-vs-transunion-what-a-landlord-needs-to-know/) Meta: Learn the differences between Equifax and TransUnion credit reports and why getting both reports helps landlords screen tenants more effectively. Date: May 17, 2024 Author: SingleKey Content: Equifax and TransUnion are two of the largest and most reputable credit bureaus in North America. Both companies provide credit reports, one of the most vital tools you can use as a landlord to screen tenants.But is one credit bureau better than the other? After analyzing a selection of Equifax and TransUnion credit reports, we’ll break down the main differences between them so you can make an informed choice.Credit scores It’s no surprise that there was a difference between the Equifax and TransUnion credit scores, as each credit bureau has their own proprietary formula to calculate these scores. What’s interesting to see is just how different the scores were. Generally, the TransUnion scores were higher than the Equifax scores.Here’s an example of the same individual’s scores compared between Equifax and TransUnion, with a difference of 142 points. In the example below, depending on where these scores fall in the range, this might be the difference from the applicant being selected or not. TransUnion and Equifax scores can vary drastically: 42% of the time, there is more than a 40-point difference in the score between the two bureaus.To understand the potential cause behind this major difference in reported credit scores, we compared hundreds of TransUnion and Equifax credits reports and highlighted the key points below.Total debt We were surprised to see a significant difference in total debt reported between Equifax and TransUnion. One possible reason could be that since there’s a cost to report to a credit bureau, most businesses would report to only one bureau and not the other. This data point underlines the importance for small landlords in getting reports from both bureaus.In the example below, Equifax found a mortgage on an individual’s credit report, while TransUnion did not list that mortgage. Monthly debt payments In our comparison, the monthly reported debt payments were nearly the same between the Equifax and TransUnion credit reports. This was driven by the data from each individual’s financial products, which appear as tradelines.  This is interesting because as we review those tradelines, the data is quite different. This tells us that the Equifax and TransUnion criteria for displaying tradelines varies.Of the credit reports that we compared, only 2% had a hit that was not reported by the other credit bureau. If we include more credit reports in our comparison, we expect to see these cases increase, which highlights the importance of getting both Equifax and TransUnion reports to ensure no important data is missed. Reported (billing) addresses Reported addresses are those that are used for billing purposes when an individual has opened up a product or service. This could be for items such as a cell phone or a streaming service. Reported addresses are valuable for landlords because they give them the ability to cross-reference an applicant’s rental history with the addresses found in the credit report. If a match is found, you can be more confident that the information provided by the rental applicant is accurate.Nearly one-third of reported addresses were found on only one bureau’s credit report. Of those missing addresses, nearly an equal split of them were reported to a single bureau, meaning neither Equifax or TransUnion had an advantage.As each bureau had its own unique reported addresses, it’s essential to have data from both credit reports, especially considering the importance of verifying rental history during the tenant screening process.Tradelines An overwhelming 96% of all the credit reports we reviewed had a hit on tradelines. This makes sense, as both credit bureaus report on existing products, like loans and credit cards. TransUnion credit reports generally displayed more tradelines with more historical data. From a landlord’s perspective, seeing more tradelines gives a higher degree of confidence that the rental applicant is managing their finances well, especially if these tradelines have been paid out.Here’s an example where Equifax showed an overdue tradeline while TransUnion did not report the same tradeline. Click to zoom The bottom line when it comes to tradelines? Less than half the time, both bureaus showed the same lenders, so by running only one credit report, a landlord is at risk of missing key information like a loan that may have been late or gone to collections. The chances of that happening are high at 55% of the time.Collections A collection is an unpaid, overdue bill (over 90 days) that has been written off and sent to a collection company. The majority of people don’t have collections, which matches our analysis: out of all the credit reports we reviewed, most reported no collections. When we look at the collections that were found, 59% of the time, both bureaus reported the same number of collections. However, the collections didn’t match 41% of the time. There was also an average of 1.3 differences in non-matching collections. TransUnion had a small advantage because it returned slightly more collections. Still, to get a full picture of your applicant, running credit reports from both bureaus would ensure you capture all of this data, as there’s a 41% chance you may miss a collection.Here’s an example of how collections are reported differently across both credit bureaus: Reported employers and local inquiriesWhile Equifax and TransUnion report on a person’s employment history and any related local inquiries, this data rarely matched across both bureaus. For this reason, having two credit reports will give you a more complete profile of your rental applicant so that you can make a more informed decision. Our final thoughtsThe results between the two bureaus were noticeably different. Key aspects like reported tradelines and collections varied, which explains why credit scores were different between the bureaus. Each credit bureau also has its own formula to calculate credit scores, which contributes to these variations.Therefore, it’s critical to run both credit reports so that you don’t miss crucial information about your prospective tenant or potential red flags. Minimize this risk and start screening with SingleKey’s Dual Credit Report. --- ### 5 Reasons to Switch to SingleKey’s New App [5 Reasons to Switch to SingleKey’s New App](https://www.singlekey.com/en/tenant-report/5-reasons-to-switch-to-singlekeys-new-app/) Meta: Find out the upgraded tenant screening tools and features of SingleKey's new tenant screening application. Date: May 16, 2024 Author: SingleKey Content: We’re always refining our app with homeowners in mind, from improving the user experience to developing new tools to simplify the leasing process. While some updates work behind the scenes to improve your everyday experience, if you’ve been on the SingleKey platform lately, you’ll notice a major overhaul—one that we know you’ll appreciate as a valuable member of our community.Here are just some of the latest features you'll find on our new app.Dual Credit ReportPowered by Equifax and TransUnion, the new Dual Credit Report gives you a more complete credit profile of your rental applicant that captures any important insights and potential red flags.Given that various lenders only report to one bureau, the results from both reports can be surprisingly different. Learn more about why two credit reports are better than one.International Credit CheckScreen international tenants more effectively with our International Credit Check. In partnership with Nova Credit, this first-of-its-kind product gives housing providers access to tenant credit history data for 80% of new Canadian applicants. With every report, you’ll get in-depth insights into an international rental applicant’s creditworthiness, a public record search of over 200,000 databases across 240 countries, and employment references and proof of income provided by the tenant on our online rental application.Take a look at our sample International Credit Report.An interactive Tenant Screening ReportNot only is our updated Tenant Screening Report more comprehensive, but it’s also fully interactive. Enjoy reviewing more data on your potential tenants with a seamless HTML experience instead of a traditional PDF report.    Explore the new HTML experience of our sample Tenant Report.Upgraded rental applicationWith our expanded rental application, you’ll get more information about your potential tenant with less friction. Some of the new data includes more occupant details, multiple sources of income, and extended employment history. Here’s a preview of the enhanced rental application.A mobile-optimized experience When you’re on the go, SingleKey is there to keep up with you. Our platform is now fully mobile-optimized, so all of our users can access their data with an improved and more intuitive experience.Discover the new SingleKey appIf you haven’t experienced the new SingleKey app, log in and let us know what you think. Try SingleKey's new app --- ### How to Calculate Rental Property Depreciation in the U.S. [How to Calculate Rental Property Depreciation in the U.S.](https://www.singlekey.com/en/ownerkey/finance-management/how-to-calculate-rental-property-depreciation-in-the-u-s/) Meta: Find out how rental property depreciation works in the U.S. and how to calculate depreciation deductions when it's time to report your taxes. Date: April 29, 2024 Author: Mark Gregorski Content: Whether you've recently purchased a rental property or have owned one for several years, one thing's for sure: it'll gradually lose value from day-to-day use. This reduction of your rental’s value from wear and tear is called depreciation. The good news is you can claim rental property depreciation as a tax deduction. In this guide, we'll explore how rental property depreciation works and how it saves you money on your taxes. Remember to consult with a tax professional who specializes in real estate when it’s time to file your taxes. What is rental property depreciation?Rental property depreciation is a method for distributing the cost of purchasing and improving a rental property over its useful life. A rental’s "useful life" is the estimated time it will remain active as a business asset to generate income. Once you calculate the amount of depreciation your property incurs each year, you can claim it as an expense on your tax return to offset your rental income. As a landlord, you'll incur various costs in purchasing, managing, and enhancing your property. So, deducting these costs as compensation for your investment is only fair and logical. And that's precisely what the Internal Revenue Service (IRS) allows you to do by letting you expense them over a set number of years.The cost of land and routine maintenanceThere are two key points to note about rental property depreciation.First, you can’t claim depreciation on land, as it doesn't degrade or become obsolete over time. Only the building and its various structural components, like heating systems, electrical wiring, and water pipes, are eligible for depreciation.Second, routine repairs are not a depreciable expense, as they don't substantially increase the property's value or extend its useful life. An example would be fixing a leaky faucet. You would deduct the total cost of this activity in the tax year it was completed rather than spreading it over several years. How do I calculate depreciation on my rental property?Below are the steps for determining depreciation on a residential rental property in the United States.Step 1: Determine your property’s cost basisThe cost basis is the total amount you spent to acquire your rental property. Start with the amount you paid to the seller to purchase the property. As mentioned, land is exempt from depreciation, so be sure to exclude it from your calculation.Next, add all eligible closing costs involved in the purchase (but only the portion that applies to the building), which include:Legal feesRecording feesSurveysTransfer taxesTitle insuranceUtility installation feesAbstract feesYou can also include in your cost basis the amounts you agreed to pay when you purchased the property, such as the seller's property taxes, back interest payments, and real estate commissions.Finally, add to your cost basis any money you invested in additions or improvements after purchasing the property to get it ready for service. These additions or improvements must have a useful life of more than one year.Using the cost basis formulaHere's an example to illustrate the cost basis calculation:You buy a detached home for $500,000. The land is valued at $100,000. Your closing costs are $6,500, and 80% of those costs are related to the building. After acquiring the property, you invest $30,000 in remodeling. In this case, your cost basis is $435,200 ($500,000 - $100,000 + ($6,500 x .80) + $30,000). This amount is eligible for depreciation.Step 2: Choose your depreciation methodThere are two methods to calculate allowable depreciation: the General Depreciation System (GDS) and the Alternative Depreciation System (ADS).With the GDS, depreciation costs are spread over 27.5 years, which the IRS has defined as the lifespan of a residential rental property. Under the ADS, you'll claim depreciation over 30 years (or 40 years if your property was available for service before January 1, 2018).In most cases, GDS is suitable for most residential rental properties. However, depending on certain characteristics of your rental unit and how you intend to use it, the IRS may require that you use the ADS method.Step 3: Divide the cost basis by the property’s useful life.The next step is to figure out how much depreciation you can claim each year on your tax return. To do so, divide your cost basis by your property's useful life, which will likely be 27.5 years.Continuing with our previous example, let's use a cost basis of $435,200 and divide it by 27.5 years. Your allowable depreciation expense is $15,825.45 annually, which works out to be 3.64% of your property's total cost.Step 4: Determine the amount of depreciation you can claim on your tax returnDuring the first year of operations, you can claim depreciation only during the months your rental property was in service. Let's assume your rental was available to accept tenants on February 8. Refer to this guide from the IRS to help calculate your depreciation deduction based on the month it was ready for use (see Table 2.2d on page 17). For February, the depreciation percentage is 3.182%. Continuing with our example, the depreciation deduction for Year 1 of your rental would be $13,838.14 ($435,200 x 0.03182). You would deduct the regular annual amount of $15,825.45 for all subsequent years.What are the benefits and drawbacks of rental property depreciation?Rental property depreciation can go a long way in lowering your taxable income. You can apply this expense against your rental income for many years, allowing you to recover a sizable portion of the money you spend to keep your rental in top shape.However, despite the tax breaks, rental property depreciation has a few drawbacks.First, calculating depreciation can be tedious. There are more nuances to this area of tax law than we've covered in this article. It's easy to get overwhelmed and make errors, especially if you own multiple rental units.That brings us to our second point. Given the time and complexity involved in calculating and tracking depreciation, you may have to hire an accountant or other tax specialist to assist you. Outsourcing this task results in another expense that takes away from your profit.A third, and frequently overlooked, disadvantage of rental depreciation is depreciation recapture, which may occur when you decide to sell your property. If you earn more from the sale of your rental than you originally paid for it, you may face a steep tax bill, as your gains will be taxed as regular business income.Our final thoughtsThere's no escaping the effects of wear and tear on your rental property. Luckily, you can obtain some financial relief by claiming these costs as depreciation on your tax return. Be aware there are strict rules that limit how much you can deduct and which costs don’t qualify, so consider hiring a tax expert to help you. For more information, explore this resource from the IRS on how to depreciate property. --- ### Why a Lawyer Should Review Your Lease Agreement [Why a Lawyer Should Review Your Lease Agreement](https://www.singlekey.com/en/ownerkey/laws-regulation/why-a-lawyer-should-review-your-lease-agreement/) Meta: Discover the benefits for landlords and tenants in having a lawyer review their lease agreement. Date: April 17, 2024 Author: Karen Wong Content: It’s an exciting time when a tenant receives a lease agreement—for both the tenant and the landlord involved. Finding an excellent tenant who checks all the boxes and will care for your home can be a challenge. Tenants feel similarly, with the average renter looking at, and even losing out on, many properties before finding the right one. While many landlords and renters are aware that real estate agents will work with them, it is often lesser known that a lawyer can and should review a rental agreement to ensure it is ready for signing. What is a lease agreement?A lease agreement is a legally binding contract between a landlord and a tenant that outlines the terms and conditions under which a property is rented. This agreement typically includes details such as the duration of the lease, the amount of rent to be paid, the responsibilities of both the landlord and the tenant, rules regarding the use of the property, conditions for terminating the lease, and any other relevant terms agreed upon by both parties.Lease agreements can vary in length from short-term leases, such as month-to-month agreements, to long-term leases spanning several years. They are designed to protect the rights and interests of both the landlord and the tenant and provide a clear framework for the rental arrangement. Remember that the province the rental property is in determines the types of arrangements that can be made.Why do you need a lease agreement?A lease agreement serves several important purposes for both landlords and tenants.Legal protection: A lease agreement provides legal protection for both parties by clearly outlining the terms and conditions of the rental arrangement. It helps to prevent disputes and misunderstandings by establishing the rights and responsibilities of each party.Clarity: The lease agreement clearly defines important details such as the duration of the lease, the amount of rent, and any rules or regulations that must be followed. This clarity helps both parties understand what is expected of them during the tenancy.Security: For landlords, a lease agreement provides security by ensuring a predictable rental income. It also outlines procedures for handling issues such as late payments or property damage. For tenants, it provides security by establishing their right to occupy the property for a specific period of time and protecting them from unexpected changes in rent or lease terms.Enforceability: A lease agreement is a legally binding contract, which means that both parties are obligated to uphold their end of the agreement. In the event of a dispute, the terms of the lease can be enforced through legal means.Documentation: Having a written lease agreement provides a record of the rental arrangement, including key details such as the security deposit amount, the condition of the property at the time of move-in, and any agreed-upon repairs or renovations. This documentation can be useful for resolving disputes or for reference during the tenancy.Why should a lawyer review a lease agreement before signing?Having a lawyer review a lease agreement before signing provides an extra layer of protection for both parties by offering:Legal expertise: Lawyers are trained professionals who understand the nuances of contract law. They can identify any legal issues or potential pitfalls in the lease agreement that a layperson might overlook. This ensures that the terms of the agreement are fair and legally sound.Protection of rights: A lawyer can review the lease agreement to ensure that it protects your rights as either a landlord or a tenant. They can help negotiate any terms that may be unfavorable or ambiguous, ensuring that your interests are adequately represented in the contract.Understanding complex terms: Lease agreements can contain complex legal language and terms that may be difficult for the average person to understand. A lawyer can interpret these terms and explain them in plain language, helping you fully grasp the implications of the agreement before signing.Avoidance of costly mistakes: Signing a lease agreement without fully understanding its terms can lead to costly mistakes or legal disputes down the line. A lawyer's review can help identify any potential issues early on, saving you time, money, and stress in the long run.Customization and negotiation: Depending on your specific needs and circumstances, a lawyer can help customize the lease agreement to better suit your interests. They can also assist in negotiating terms with the other party to achieve a more favorable outcome.Review lease agreements in advance of signingIt’s important to review any legal document before you sign them, and a lease agreement is no different. From the landlord’s perspective, there can be clauses that invalidate the contract. From the tenant’s perspective, there could be terms that are not allowed in your province. Ensuring the contract is legally sound and fair is ideal for a great relationship with both parties. The average tenant remains with a landlord for just over two years. If a landlord and a tenant have a great relationship, they usually want to keep their lease agreement going—and every solid landlord-tenant relationship starts with an accurate and error-free contract. --- ### What is Rental Property Depreciation in Canada (And How Do You Calculate It)? [What is Rental Property Depreciation in Canada (And How Do You Calculate It)?](https://www.singlekey.com/en/ownerkey/finance-management/what-is-rental-property-depreciation-in-canada-and-how-do-you-calculate-it/) Meta: Understand the rental property depreciation process, how to calculate capital cost allowance, and how to claim CCA deductions on your tax return. Date: April 12, 2024 Author: Mark Gregorski Content: Your rental isn't going to stay in pristine shape forever. Over time, things will break down and suffer damage, resulting in your investment gradually losing value. This loss in value is your rental property depreciation, a significant and unavoidable cost you face as a landlord.Luckily, the Canada Revenue Agency (CRA) allows you to claim capital cost allowance (CCA) on your rental income. This helps you recoup some of the money you spend on acquiring and improving your rental. Always consult a tax professional to understand what deductions make sense for your financial situation.In this guide, we'll explain rental property depreciation and the ins and outs of claiming CCA in Canada, including how much you can claim annually as a tax deduction and how to calculate it.What is rental property depreciation?Rental property depreciation is an accounting process where you deduct the value of your property and any improvements you made to it from your taxes. Instead of claiming the total cost of your rental's purchase price (as well as any improvements) in a single year, you spread it over many years. CCA is the tax deduction based on rental property depreciation. The CRA has strict rules that limit how much CCA you can claim each year on your tax return. The cost of land and routine maintenanceThere are two key points to know about rental property depreciation.First, land is exempt from depreciation, as it doesn't degrade. Only the building and its various structural components, like heating systems, electrical wiring, water pipes, are eligible for depreciation.Second, routine repairs are considered as current costs. They don’t qualify as depreciable expenses since they don't increase the property's value or extend its lifespan. Some examples would be fixing a clogged toilet, patching up a small hole in a wall, or replacing a broken handle on a kitchen cabinet. You can deduct the entire cost of these activities in the year they're performed. Learn more about other expenses you can deduct as a landlord.How do I calculate CCA on my rental property?Below are the steps to calculate and claim CCA on a residential rental property in Canada.Step 1: Determine your adjusted cost base.The adjusted cost base (ACB) is the total investment in your rental property. This may include capital costs, which are all the upfront expenses that go into obtaining and improving your rental. You can depreciate the ACB over time and claim it as an expense on your taxes. Here's what you can include in your ACB:The purchase price: This is the amount you paid to purchase the property. You only include the price of the building, as land isn't a depreciable asset.Closing costs: These include various expenses related to buying the rental unit. Some examples of eligible closing costs include legal fees, utility installation charges, and land transfer taxes. Remember: only the portion related to the building, not the land, is depreciable.Additions and improvements: These are substantial expenditures you make to your rental. Some examples include adding new windows and replacing the roof shingles. The functional value of these investments must extend beyond one year. Otherwise, the full cost is tax-deductible as a current expense in the year incurred. Learn more about the difference between capital and current costs. Soft costs: These are expenses related to renovating or altering your property. An example is the interest paid on a loan to finance a kitchen renovation.Here's the formula to calculate your ACB: And here’s an example of the ACB calculation:You bought a rental property for $400,000. The land is valued at $80,000.Your closing costs are $8,000 and 80% of those costs are related to the building.You invest $25,000 in improvements before listing it on the market.The ACB for your rental property would therefore equal $351,400 ($400,000 - $80,000 + ($8,000 x 0.80) + $25,000). This is the amount that’s eligible for depreciation. Step 2: Determine the CCA rate for your rental propertyThe next step is determining how much CCA you can legally deduct each year.Under the CCA system, the CRA divides business assets into distinct classes. Each class has its own CCA rate, which defines the percentage of the asset's value (adjusted cost base) you can claim as depreciation each year.Most rental properties fall under Class 1, which includes all buildings acquired after 1987. You can add your property's entire adjusted cost base in this class. The CCA rate for this class is 4%.Step 3: Calculate the CCA to be claimed on your tax returnThe final step is calculating the maximum CCA you can claim when filing your taxes. To do so, multiply your adjusted cost base by 4% (if your rental property is under Class 1). The resulting figure is the amount you can deduct from your rental income.  If we apply this calculation to our previous example, the allowable depreciation would be $14,056 ($351,400 x 0.04). Ordinarily, you'd be correct to claim this amount as an expense; however, since it's the first year of operations for your rental, a quirk of the CCA system known as the half-year rule applies.What is the half-year rule? The half-year rule dictates that in the year you first acquire an asset, you can only claim half the depreciation you usually would. So, in the above scenario, you can only claim $7,028 worth of CCA against your rental income.  In the following years, the standard rules apply: you would apply the 4% CCA against your rental's adjusted cost base as before. However, before doing so, you must subtract the depreciation claimed in the prior year. Therefore, the balance eligible for the depreciation expense will decline yearly (unless you make new capital improvements to the property).Under Canadian tax law, you cannot use depreciation to create or increase a rental loss—only to bring it down to zero. Note: As of 2024, the half-year rule is being phased out (at least temporarily).Latest updates to rental property depreciation guidanceIn 2024, there were two important updates related to rental property depreciation: Accelerated Capital Cost Allowance (ACCA)The Canadian government introduced an ACCA to increase the maximum allowable depreciation rate from 4% to 10%. This applies to eligible new purpose-built rental housing. Learn more about ACCA here. Depreciable Property ClassesAccess to Classes 43.1 and 43.2 is now restricted for specific fossil-fuelled and low-efficiency waste-fuelled electrical generation equipment. Learn more about depreciable property classes here.What are the benefits of rental property depreciation?There are pros and cons to using the depreciation method and claiming CCA. On the plus side, the deduction can drastically slash your tax bill. You can apply depreciation against your rental profits for many years, allowing you to recover a sizable portion of the money you invest into your property. You're also not required to claim the maximum allowable CCA deduction in the current year it's available. If you wish, you can use only a portion or defer the total amount to a future year when claiming it may be more advantageous (e.g., years where you earn a high rental income).What are the drawbacks of rental property depreciation?Despite the tax savings, there are some downsides when it comes to putting the rental property depreciation method in practice.First, calculating depreciation can be tedious, especially if you own multiple rental properties and spend heavily on improvements. We've only scratched the surface regarding CCA rules and regulations—things can get more complex in practice.Second, you may need to hire an accountant or other tax expert to help determine your CCA deductions and file your tax return. While doing so will give you peace of mind knowing the numbers reported to the CRA are likely correct, it's another expense you must cover.A third drawback of the rental property depreciation process is recaptured capital cost allowance. This one's more complex because it only occurs if you decide to sell your property. Let's say you earn more from the sale of your rental than what's remaining in your Class 1 asset balance (whatever you haven't claimed as depreciation). In that case, the CRA will treat your gain as taxable income, which means you could face a steep tax bill.Our final thoughtsIt’s natural for your property to show wear and tear over time, making it necessary to invest in repairs and renovations. The good news is that you can obtain some financial relief during tax season by claiming CCA.Understanding rental property depreciation and the rules for calculating CCA deductions can get complicated, so don't hesitate to enlist a professional to help you—a qualified tax expert is always money well spent.To learn more about managing your taxes for your rental property, visit our financial management resources. --- ### SingleKey and Nova Credit Launch International Credit Check to Empower Newcomers [SingleKey and Nova Credit Launch International Credit Check to Empower Newcomers](https://www.singlekey.com/en/singlekey-and-nova-credit-partner/) Meta: This partnership breaks barriers for new Canadians by increasing access to international credit history and revolutionizing housing accessibility. Date: March 26, 2024 Author: SingleKey Content: We're proud to announce our partnership with Nova Credit, a credit infrastructure and analytics company serving as Canada's first cross-border credit bureau, to break housing barriers for new-to-country individuals by offering exclusive access to their international credit history.In today's competitive rental market, new Canadians encounter substantial hurdles when seeking affordable housing. These challenges stem from their limited or nonexistent credit history in the new country and the steep rise in rental costs. The primary obstacle lies in securing approval for a lease without a local credit history—a requirement that most housing providers insist upon during the rental application process.To circumvent this challenge, a recent survey found that an overwhelming 58% of newcomers have had to pay several months' rent upfront—representing a significant financial burden and unaffordable for most at today's rent prices.Canada continues to break immigration records, with international migration playing a pivotal role in driving the highest population growth rate since 1957. The immigration rate is poised to rise further, with plans to welcome nearly 1.5 million permanent residents over the next three years.The Nova Credit and SingleKey partnership is a first-of-its-kind initiative designed to assist new-to-country Canadians access their foreign credit history and get approved for their new homes faster. This International Credit Check initiative is powered by Nova Credit Credit Passport® solution, which unlocks credit history data from over 1.5 billion credit profiles worldwide."This partnership couldn't have come at a more crucial time," said Viler Lika, Founder and CEO of SingleKey. "With a low vacancy rental market and immigration rates soaring, newcomers face unprecedented hurdles in securing affordable housing. Our partnership with Nova Credit addresses these obstacles by allowing lenders and financial service providers in Canada to access 'lost' credit histories worldwide. This allows housing providers to screen and approve international applicants confidently, which increases accessibility to housing for all."In a recent survey, 43 percent of new Canadians cited increasing rental prices as their biggest challenge when applying for housing. In comparison, lack of credit history was the second biggest challenge for 30 percent of respondents. Additionally, nearly 40 percent of Canadian housing providers reported a surge in interest from newcomers, with more than 20 percent of rental applications coming from new-to-country individuals."Every year, hundreds of thousands of creditworthy individuals immigrate to Canada, leaving years of credit history behind them in their home country," said Collin Galster, Chief Operations Officer of Nova Credit. "As a result, newcomers struggle to access fairly priced credit-based products – and access to affordable housing is a fundamental aspect of successful integration for new Canadians. By providing immigrants with access to their international credit history, we're helping them take the first step towards building their new lives in Canada."Our final thoughtsFor more information about the partnership and the International Credit Check, visit www.singlekey.com/en-ca/screen-international-tenants.Source: Cision --- ### A Guide to Reporting Rental Income: How to File a Schedule E [A Guide to Reporting Rental Income: How to File a Schedule E](https://www.singlekey.com/en/ownerkey/finance-management/a-guide-to-reporting-rental-income-how-to-file-a-schedule-e/) Meta: This guide helps homeowners complete their Schedule E form to report supplemental income, including rental income and real estate investments, to the IRS. Date: March 25, 2024 Author: Mark Gregorski Content: Whether you manage a dozen condo units or rent out the basement of your home, it’s your responsibility as a landlord to declare your rental earnings to the IRS by using the tax form Schedule E (Supplemental Income and Loss).In this guide, we’ll explain how Schedule E works, who has to file it, and what information you need to fill it out correctly.What is Schedule E?Schedule E is a tax form where you report income and expenses related to real estate property, royalties, partnerships, S corporations, trusts, estates, and real estate mortgage investment conduits (REMICs). If you earned income from renting out real estate, you must complete Schedule E and attach it to Form 1040 when filing your taxes. Form 1040 is the standard document most taxpayers use to report their personal income to the federal government.The IRS regularly updates any changes to Schedule E in their instructions for completing it. Who should complete a Schedule E?You're legally obligated to fill out and submit Schedule E if you earned an income from renting out real estate. However, the reporting requirements vary depending on whether you're an individual investor, partner, or shareholder in an S corporation. Individual investor The IRS considers you an individual investor if you rent out your primary residence or one or more properties you own. This designation applies whether you rent out a spare bedroom in your family home or collect rent from multiple tenants in an apartment complex.If this definition describes you, report the total rental income earned during the tax year on Schedule E in Part I. Of course, you can also deduct all eligible expenses. Partner or shareholder of an S corporation Partnerships and S corporations are distinct legal entities for tax purposes. As such, they must report their rental income and expenses using Form 8825. If you hold an ownership interest in a partnership or S corporation, any income or loss is passed on to you. Disclose this by filling out Part II of Schedule E.Before filling out Schedule E, your company must issue a Schedule K-1. This document summarizes the year’s income or loss to shareholders or partners. You don’t need to file Schedule K-1 with your personal tax return: the partnership or S corporation will file a copy with the IRS instead. The only exception is if box 13, code B, shows backup withholding. If so, submit Schedule K-1 when filing your taxes. Either way, keep a copy of this form for your records.There are two other documents you may need as references when completing Part I:Form 8582: This form lets you calculate your allowable loss from a rental property.Form 4562: You can use this form to determine your Section 179 expense, a special deduction available for purchases of specific depreciable property. When should I file a Schedule E?Schedule E accompanies your primary tax return, so you should submit it by mid-April, which is the tax filing deadline for most taxpayers. If you file an extension, you'll have until mid-October to send it. Filing Schedule E can be more complicated if your rental income stems from a partnership or S corporation. Companies usually wait until mid-March to issue Schedule K-1s. Further delays mean the document could arrive quite late, which is entirely possible as Schedule K-1 forms are notorious for arriving late. If you need more time, file Form 4868 to extend your deadline.How do I fill out each section of Schedule E?Below is an overview of the four sections of Schedule E and how to complete them. Remember that you only need to fill out the part that applies to your tax scenario.Use the links below to go to the section that relates to you: Part I: Income or Loss from Rental Real Estate and RoyaltiesPart II: Income or Loss From Partnerships and S CorporationsPart III: Income or Loss From Estates and TrustsPart IV: Income or Loss From Real Estate Mortgage Investment Conduits (REMICs)Part I: Income or Loss from Rental Real Estate and RoyaltiesIn Part I, you declare rental income and expenses from rental real estate (and royalties, if you have any). It's likely the only section you'll have to complete if you own and rent out properties as a sole proprietor. Provide your rental address, property type, and the number of days it was rented out (fair rental days) during the year. The last point is crucial, as it determines what amount, if any, of your expenses you can claim as a deduction. Only costs related to the rented-out portion are tax-deductible. The IRS generally deems a property a home rather than a rental if personal usage exceeds 14 days or 10% of the total days rented at the market price. If these conditions apply to you, you cannot deduct any expenses.Enter your total rental income in the "Rents received" field. Remember to include application fees, security deposits withheld from tenants, and any other income earned related to your property.Eligible expensesPart I provides a list of eligible expenses you can deduct. Be sure to claim every cost you can to minimize your tax liability, including depreciation on your building. You can find a comprehensive breakdown of allowable rental property expenses and how to calculate them in IRS Publication 527.Before recording your expenses, gather all your receipts to ensure you capture all your deductions. Include your mortgage interest if you're financing your property (your bank will send you form 1098, which summarizes your total interest paid).You may need to file form 1099-MISC if you've made payments to independent contractors over $600. If that's the case, check "Yes" on Line A. Part II: Income or Loss From Partnerships and S CorporationsIf your rental business is structured as a partnership or S corporation, complete Part II instead of Part I.Report only your share of the income or loss. To complete Part II accurately, you'll need to review your Schedule K-1. It should contain instructions for transferring the necessary information to Schedule E on your tax return.Some details you'll need to provide in Part II are your company's name, whether it's a foreign partnership, and an employment insurance number (EIN). Sometimes, the IRS may reduce or disallow a rental loss if it's excessive. There are rules you must apply to a loss before claiming it, some of which apply strictly to partners and others to S corporations. Be sure to read the instructions for Schedule E for further details or speak with your accountant.Part III: Income or Loss From Estates and TrustsPart III of Schedule E deals with beneficiaries of an estate or trust. Much like a partnership or S corporation, you'll receive a Schedule K-1, showing your income or losses, which may relate to rental properties. Follow the instructions outlined in this form to report the items correctly in Part III.Passive activity loss rules may apply if your estate or trust incurred a loss. These rules prevent taxpayers and legal entities from deducting substantial losses, particularly those from rental properties. Calculate your allowable loss using Form 8582, then transfer it to Schedule E.Part IV: Income or Loss From Real Estate Mortgage Investment Conduits (REMICs)You must fill out Part IV if you have a residual interest in a real estate mortgage investment conduit (REMIC). A REMIC is a type of investment that pools mortgages and issues mortgage-backed securities.As a REMIC investor, you'll receive a quarterly statement called Schedule Q, which lists your share of the income and expenses. This document will help you enter the required details in Part IV of Schedule E. If you're the holder of a regular interest in a REMIC, report your income directly on Form 1040 instead of Schedule E.If you have holdings in more than one REMIC, list them on another sheet in the same format as Part IV. Then, combine the totals (columns D and E) and enter the amount on line 39. There's no requirement to file Schedule Q when filing your tax return; however, you should still keep it for your records. FAQ: How to file a Schedule E What’s the difference between a Schedule E vs. Schedule C? The purpose of Schedule E is to report income or loss from rental properties. The IRS treats rental earnings as passive income, meaning that it requires little effort or active involvement on your part. If you rent out real estate and provide essential services like heat, water, and electricity, you’d use Schedule E to declare your income and expenses.Schedule C is where you report earnings and expenses related to personal services provided to tenants, such as cleaning, food delivery, and security. The IRS classifies these activities as business since they require substantial time and effort. Can I still use Schedule E if I own more than one rental property? Yes, you can still use Schedule E to report your rental income and expenses if you own more than one property. The form provides space to list up to three rental units. There’s also room to include up to four partnerships or S corporations. If you have more than three rental units, you can complete and attach as many additional Schedule E forms as needed. Our final thoughtsIf you earn rental income, you must disclose your earnings and expenses on Schedule E and submit the form with your primary tax return, Form 1040. Schedule E has four parts, which makes it look daunting. However, you only need to fill out the one that applies to your tax situation. Make sure to gather all the relevant receipts, statements, and other necessary documents to help you complete the form ahead of time. If you need help, consult a tax expert to guide you or to complete the form on your behalf. Visit our financial management resources to learn more about preparing your taxes. --- ### How to Fill Out a T776 Form (Tax on Rental Income) [How to Fill Out a T776 Form (Tax on Rental Income)](https://www.singlekey.com/en/ownerkey/finance-management/how-to-fill-out-a-t776-form-tax-on-rental-income/) Meta: Find out how to simplify reporting your rental income as a Canadian landlord to the Canada Revenue Agency on the T776 form. Date: March 25, 2024 Author: Mark Gregorski Content: Managing a rental property can be a great way to generate a stable income and grow your wealth. Remember though that rental income is taxable. You must declare and pay tax on your rental earnings to the Canada Revenue Agency (CRA) by completing a T776 form, also known as the Statement of Real Estate Rentals.Learn how to fill out a T776 form to manage your rental expenses, minimize your tax bill, and avoid penalties from the CRA. What is a T776 Form, Statement of Real Estate Rentals?Any revenue generated from renting a property is subject to income tax in Canada. You must report your total net profit (income minus expenses) or loss to the CRA each calendar year. Form T776 is used to report income and expenses related to renting out real estate and providing basic amenities like heat, parking, and appliances. Submitting this form isn’t mandatory: you’re free to disclose your income and expenses using your own financial statements. However, the CRA encourages property owners to use the T776 form. We recommend doing the same, especially if you're starting out as a landlord.  Mac's Pro Tip Know the difference between form T776 and form T2125. Form T776 is used to report your rental income. Form T2125 (link here) is for reporting business income. Additional services for your tenants, like cleaning and security, are categorized as business income, so declare them on form T2125.Step by step: How to complete the T776 formAccess the T776 form here, then use our breakdown below to complete the form. You can also use the following links to go to each section:Part 1 – IdentificationPart 2 – Details of other co-owners and partnersPart 3 – IncomePart 4 – ExpensesArea A – Calculation of capital cost (CCA) claimAreas B, C, D, E, and FPart 1 – IdentificationIn Part 1, you provide general details about yourself and your rental operation.Start by entering your name, address, city, province, postal code, and social insurance number (SIN). Next, complete the following:Fiscal periodFor tax reporting purposes, the fiscal year for rental properties always starts on January 1 and ends on December 31. The only exception would be during your first year of operations. If your property was available for rent on May 15, you would enter this date in the "from" field. All subsequent years would use the period from January 1 to December 31.Was this the final year of your rental operation? Will you be shutting down your rental business in the current tax year? If so, choose "Yes." If not, select "No."Tax shelter identification numberA tax shelter is an investment arranged in a way that reduces the amount of tax you owe to the CRA. If you have a tax shelter identification number, enter it in the field provided. You can find this eight-digit number on your T5013 slip.Partnership business numberFill out this field only if you operate your rental with one or more individuals. Enter your partnership business number here, which consists of nine digits. Then, provide your percentage share of the business in the field directly to the left of the tax shelter identification number.Name and address of person of firm preparing this formWill someone else be preparing form T776 on your behalf? If so, enter their name and address in this area.Business number or account numberIn this section, provide your 15-character RZ account number if you have one. It has three parts: Nine-digit business number This is a unique number that identifies your business. It’s also the same one you enter in the “partnership business number” field if you earn rental income through a partnership. Two-letter program identifier code This code specifies the type of business activity reported to the CRA. In this case, your program account code is “RZ,” which applies to information-based returns like the T776 form. Four-digit reference number This number references the individual program account (businesses can have multiple program accounts that are the same). Part 2 – Details of other co-owners and partnersComplete this section only if you co-own the rental property with another person or operate it as a partnership with them. Fill out your co-owner’s or partner's name, address, share of the income or loss for the year, and their percentage of ownership in the property. A co-owner is someone with whom you share ownership of the rental property, typically your spouse or common-law partner.In some cases, the co-owner qualifies as a partner. The CRA defines a partner as two or more people engaged in a business activity to generate a profit, either with or without a formal agreement. As such, co-owning a rental unit with someone doesn't automatically mean they're your partner. To learn more about whether a relationship constitutes a partnership, check out Income Tax Folio S4-F16-C1, What is Partnership?Part 3 – IncomeThe first thing you'll notice in Part 3 are instructions to use the accrual method when calculating your total rental income and expenses.  Under the accrual method, you record income when it's due (in this case, the first day of each month) instead of when the money arrives in your bank account. Conversely, under the cash method, you record income only when you receive the funds. While the CRA prefers that you use the accrual method, it's okay to use the cash method to keep things simple.Enter the address of your rental property, the number of units it contains, and the gross income earned (income before deducting expenses). Next, fill out the following areas as needed: Gross rents (line 8141) Enter the total amount you received from tenants by cash or cheque. Other income (line 8230) If your tenant pays for their rent through means other than cash, enter the fair market value of the good or service provided on this line.In this area, you also enter the total income earned from any other sources related to your rental property, such as subleasing or sharecropping. Total gross rental income (line 8299) Determine your total gross rental income by adding the figures from lines 8141 and 8299. You enter this amount on line 12599 of your tax return.  Mac's Pro Tip You can deduct unpaid rent from your gross rental income. Doing so will lower your tax liability. Part 4 – ExpensesIn Part 4, you deduct eligible expenses you incurred from running your property: Rental expenses At the top of Part 4, there’s a list of expenses you can claim, such as insurance, management fees, and property taxes. Enter the total for each under the appropriate line, then add the lines to determine your total expenses for the year. Enter this figure on line A.If you live in the property you rent out, only the portion of expenses related to the rented area are tax-deductible. Figure out how much applies to your personal use and how much to your tenant. Examples of expenses you must distribute are electricity bills and property taxes.Assess your expenses and record the personal portion under the appropriate line. Add the lines and enter the total on line 9949. Subtract the figure from line 9949 to arrive at your allowable expense deduction, and enter the amount on line 4. Net income (loss) before adjustments Enter the difference between your gross income and allowable expenses (line 8299 minus line 4). This amount is your net rental income. If you’re a co-owner or partner, ensure you input only your share. Other expenses of the co-owner (line 9945) In this line, you can enter eligible expenses you didn’t claim elsewhere on Form T776 due to being a co-owner or partner. Otherwise, you can skip it. Recaptured capital cost allowance (line 9947) You may only need to fill out this part if you sell your rental property or other assets it contains. According to the CRA, recaptured capital cost allowance occurs when the amount of money you get from the sale of depreciable property is more than the total of both of the following:The undepreciated capital cost (UCC) of the class at the beginning of the yearThe capital cost of any additions made during the year.In simple terms, if the proceeds from the sale are more than the initial cost of the property and the additions you made to the property, the difference is considered taxable income.   Terminal loss (line 9948) A terminal loss is the exact opposite of recaptured capital cost allowance. In this scenario, you sold an entire class of assets for less than you initially paid to acquire them (plus the cost of any additions and improvements). You can claim the loss as an expense on line 9948.Like recaptured capital cost allowance, the only time you may encounter a terminal loss is by selling your rental property or various assets it contains, such as appliances and furniture. Total capital cost allowance claim for the year (line 9936) Capital cost allowance (CCA) is a tax deduction that accounts for depreciation. Depreciation is the loss in value of an asset due to wear and tear. It’s a distinct expense you can claim after deducting all other expenses like utilities, property taxes, and office costs.You must complete Area A of the T776 form to determine your CCA deduction. GST/HST rebate for partners received in the year (line 9974) You can report any GST/HST rebate you received that relates to a partnership here. This rebate allows you to recover a portion of the GST/HST paid for qualifying expenses. Other expenses of the partner (line 9943) In this area, you can report any other eligible expenses you have as a partner that you didn’t deduct elsewhere. Your net income or loss (line 9946) This is the final step for calculating your taxable rental income. Enter the amount from line 9, which you get after deducting all expenses from your total rental earnings. The resulting figure represents your net income or loss of the year. You must report this figure on line 12600 of your tax return.If you’re a partner, add line 9974 and subtract line 9943 from line 9 to determine your net income or loss. Area A – Calculation of capital cost (CCA) claimArea A is where you calculate capital cost allowance (CCA), otherwise known as depreciation. Each year, you can claim a maximum amount of CCA as an expense to account for the gradual loss of value of your rental assets, including the building itself. Here's how to calculate CCA in a nutshell:Step 1: Determine what CCA classes your assets belong to.Step 2: Sort each asset according to its class and then add the total you paid to purchase them.Step 3: Multiply the total cost of each class by its CCA rate and then add the results together.Step 4: The result is the allowable CCA you can deduct as an expense for the year.Once you figure out your allowable CCA, enter the number on line 9936 of form T776.The rules and mechanics behind CCA can be tricky to navigate, even for seasoned landlords. For more details about its calculation, visit the CRA's in-depth guide on how to complete the capital cost allowance (CCA) charts. If you need more help, consider hiring a tax expert.Areas B, C, D, E, and FIf you’ve purchased or sold rental property assets during the year, fill out the applicable sections from B to F before completing Area A. Area B: Equipment additions in the year List furniture, appliances, fixtures, yard equipment, and other property purchased for your rental. Don’t forget to include improvements. Substantial repairs that extend an item’s useful life are also eligible for CCA.  Area C: Building additions in the year List any new rental units you acquired during the current year, plus any improvements or additions, such as a kitchen renovation or roof replacement.  Area D: Equipment disposition in the year The same types of items that belong in Area B can be listed here. The only difference is that these are the ones you’ve sold. Include in this area the total proceeds you received from the sale. Area E: Building dispositions in the year. In this area, record any rental properties you sold during the year and the total proceeds received.  Area F: Land additions and dispositions in the year Enter the amount you paid to acquire land or received after selling it. Land doesn’t qualify for CCA, so always exclude it when determining your deduction.  Our final thoughtsAt first glance, a T776 form looks intimidating: it's five pages long with multiple sections of jargon. To simplify the task of completing it, assemble all the details you need, such as your business account number, list of expenses, and assets eligible for CCA. If you need assistance or have questions about specific sections, consult an accountant or other tax expert. While the CRA provides the T776 form online, you can also create it automatically through your tax software. To learn more about managing your taxes as a landlord, visit our financial management resources. --- ### The Essential Rental Property Expense Sheet [The Essential Rental Property Expense Sheet](https://www.singlekey.com/en/ownerkey/finance-management/the-essential-rental-property-expense-sheet/) Meta: Learn how to track rental property expenses and streamline bookkeeping with our free, downloadable expense sheet. Date: March 12, 2024 Author: Mark Gregorski Content: If we had a magic wand to make one property management task easier, it would be tracking expenses. This is where a simple system really has an impact on how well you stay on top of your books. Does such a system exist? Yes, and it’s right here in our easy-to-use rental property expense sheet and guide that takes the guesswork out of expense tracking. Learn what info you need to collect and how to organize it, so when your accountant or bookkeeper needs to prepare your books and tax return, all you have to do is share a link.How do I track my rental property expenses?Get started by downloading our Essential Rental Property Expense Sheet. You can follow along in the video below as our resident pro landlord, MacKenzie Wilson, guides you through the template to help you simplify expense tracking.Download the Rental Property Expense Sheethttps://youtu.be/icJf683z8_U?si=kR12KH9fQYBp0NNvWhat rental property expenses should I track?There are two main types of expenses you need to document as a landlord: regular and occasional. Regular expensesRegular expenses are your everyday, ongoing costs required to keep your rental business running smoothly. They're predictable and consistent, so you can expect to pay for them at regular intervals, usually monthly. These expenses are easy to budget for, given their stability.Some examples of regular expenses are:Software subscriptionsInsurance Property management feesUtilitiesProperty taxesMortgage interestOffice costsOccasional expensesOn the other hand, occasional expenses show up unexpectedly or seldomly. They may occur a few times per year or even once every few years. While difficult to anticipate, you'll definitely encounter them if you're in the rental business long enough. Here are some examples of occasional expenses: Unexpected repairs. If your rental's furnace breaks down during a cold winter day, your tenant will expect you to fix it immediately. Vacancy costs. If you're in need of a new tenant, expect to spend money on advertising, screening costs, and tidying up the property. Legal and court fees. You may need to hire a paralegal and appear in court if you become involved in a dispute with a tenant.Tips to streamline your rental property expense trackingTracking your rental’s expenses takes minimal time and effort with the right approach. Here are some tips to get started:Keep things simpleWhatever system you choose to keep tabs on your rental expenses, keep it straightforward. The more work involved, the more likely you will make errors or overlook something. You'll also be tempted to delay expense tracking to the last minute or skip it altogether.Record transactions immediatelyMake it a habit to record your expenses as soon as possible; ideally the same day you pay for them. You risk forgetting about transactions or misplacing receipts by waiting too long to record them, leaving you scrambling to organize expenses during tax season.Add hyperlinks to receiptsIf you use a spreadsheet to collect your expenses, add hyperlinks that point to the sites where the corresponding receipts and other essential documents are stored. That way, you'll know exactly where to look for them if needed.Choose a file naming systemA concise and consistent file naming convention for digital files allows you to identify them  quickly. You should be able to tell what a file relates to by its name rather than having to open it. An example of a file naming convention is “Expense-Account-Date,” which states the type of expense (e.g., furnace filter), the account it belongs to (e.g., repairs and maintenance), and the date of purchase (e.g., Sept.20-2024).Take pictures of receiptsFor an occasional expense, take a photo of the receipt using your phone immediately you make the purchase. You can also send the picture to your business email or a cloud-based storage account. Digital copies of receipts are easier to manage. Include the right detailsProperly documenting your rental property's expenses will save your bookkeeper the time and hassle of getting your books in order and preparing your tax return. Here are some things you can do to make their job easier:Mark up your receipts with notes about what the expense is for (e.g., is it for office supplies or repairs?)Indicate what rental property the item should get charged to (if you own multiple rental units)Separate personal and business expenses. For example, if you have a receipt from a hardware store, but only 25% of the cost applies to your rental property, note this in your expense tracker.Why tracking expenses is crucial for your taxesAs a landlord, you can claim various expenses on your tax return. The more you can legally deduct, the less taxes you owe to the government, plain and simple.However, failing to stay organized can lead you to lose track of or double-book your expenses. Furthermore, if you're faced with an audit and can’t provide proof of the expenses you claimed, the tax authorities may disallow them as deductions, leading to additional taxes.Our final thoughtsBusy landlords often neglect tracking expenses, but it's critical for managing a rental property. Documenting each dollar spent will allow you to measure your profitability, make wise financial decisions, and maximize your tax deductions. To reap the benefits of proper expense tracking, choose a process that's easy to follow and stick with it. Record your expenses, include necessary details, and store your receipts in a central location for easy access. Your bookkeeper will thank you! To learn more about managing your expenses, explore these common pitfalls in accounting for rental properties and how to avoid them. --- ### SingleKey Partners with TELUS [SingleKey Partners with TELUS](https://www.singlekey.com/en/singlekey-partners-with-telus-east/) Date: February 28, 2024 Author: SingleKey Content: We're excited to announce our partnership with TELUS! We're excited to share this special offer from TELUS and Koodo Internet with you.To see if your address or your next rental application qualifies for this offer, click below to reserve your discount. --- ### Property Management Maintenance: 5 Tips to Keep Costs Down [Property Management Maintenance: 5 Tips to Keep Costs Down](https://www.singlekey.com/en/ownerkey/maintenance/property-management-maintenance-5-tips-to-keep-costs-down/) Meta: Explore expert tips on how to save on your property management maintenance costs and find affordable contractors. Date: February 21, 2024 Author: Mark Gregorski Content: Regular property management maintenance is necessary, but there’s a hidden pitfall: it's easy to overspend if you don't have a sound plan.This is especially true when it comes to hiring a tradesperson for more complex work. A trustworthy and reliable contractor will do the job right the first time, and they'll charge a reasonable price for doing so.In this article, we'll share expert tips on how to save on your property management maintenance costs and find affordable, quality contractors.Tip #1: Set your budgetDeciding how much you're willing to spend is the first step to keep your rental maintenance costs down. To create a realistic rental maintenance budget that balances quality and affordability, you need to understand the type of service you need and research the average price the market is charging for it.Understand the type of property management maintenance workTo estimate the cost of hiring a tradesperson, assess the nature of the repairs or maintenance service you need. What type of work is involved? How long will it take to finish? What's the level of expertise required? Is it a routine service or a large-scale repair? For example, essential servicing and a tune-up of your HVAC unit is a routine maintenance task that costs only a few hundred dollars. In contrast, a significant repair or replacement of the air conditioner, compressor, or furnace could set you back thousands of dollars. Your rental maintenance budget should account for routine maintenance, which costs relatively little. But it should also factor in unpredictable repairs, which may set you back a hefty sum. Setting aside a portion of your rental income into a reserve fund to cover the latter will ensure you have the money when needed. Estimate the average cost of the repairs or maintenanceTo set an appropriate budget, determine the average cost for the repair or maintenance service you need. Many websites can help you figure out the cost of home improvement projects, such as Fixr and HomeGuide. Simply type in the necessary details, such as your location and the item that needs fixing, and the calculator will provide you with a cost estimate. Most of these sites also offer an assortment of detailed guides that outline expected costs for various home maintenance projects. Naturally, tradespeople will charge a mark-up for the work they do. But, assessing the cost of materials, labor, and supplies will arm you with enough knowledge to know whether the prices they quote are reasonable.Tip #2: Tap into your networkIf you need a stellar tradesperson for crucial maintenance work, the best place to start your search is by consulting your network. Ask your family and friends if they know a reliable contracting company that has done repair work for their home.Besides those in your family and social circle, you can ask your neighbors, co-workers, and professionals you work with, such as your realtor. Post a message on your social media platforms to boost your chances of finding quality leads. Inform as many people as possible about the type of service you’re seeking.Local home improvement retailers and building supply centers can also be excellent sources of leads. They may have business cards from plumbers, carpenters, landscapers, and other professionals who use the store to advertise their services.Tip #3: Do your (online) researchThere's plenty of information you can gather about tradespeople online. Don't simply rely on  Google searches though: take the time to find trusted sites with objective recommendations from like-minded people. Consider some of the options below:Social media discussion groupsYou can find discussion groups on almost every conceivable topic on social media platforms, including property management maintenance. By joining one, you can tap into valuable insider knowledge about which contractors to hire.Facebook is one place that's brimming with landlord groups. For example, consider joining the Alberta Landlord Community if you live in Alberta. If you own a rental property in Texas, check out Texas Landlords.Neighborhood review websitesAnother excellent source for professional contractors is neighborhood review websites like Nextdoor. Once you sign up, you'll get access to a forum where you can ask about tradespeople in your area and find their contact details.Tradespeople directoriesSeveral online platforms connect homeowners with tradespeople to repair and maintain their properties. These are usually called service professional directories or home services websites.Here are a few notable options:BidmiiAngiHomeStarsFixrBuildZoomHomeAdvisorHomeGuideThumbtackThese sites do all the legwork for you by compiling a database of qualified professionals in carpentry, electrical work, plumbing, and other specialties. They also provide valuable details like customer reviews, quote comparisons, and examples of past work, to help you make an informed hiring decision. Tip #4: Pay attention to trade associations, certifications, and licensingThe last thing you want is to hire a contractor who lacks the necessary knowledge, skills, and experience. Not all tradespeople need a license to engage in their chosen field, but some do. Plumbers, electricians, and HVAC technicians are examples of trades that are subject to licensing requirements.The requirements for licensing vary, so ensure you become familiar with the ones in your region. Any honest tradesperson can provide their license number and proof of certification. You can verify if it's valid by contacting the local regulatory agency for the trade.You'll also want to check if they're a member of any association related to their line of work. Being a member of a regional or national association shows they're dedicated to their profession, follow a set of standards and expectations, and are keen on enhancing their skills.Tip #5: Assess quotes and warrantiesComparing quotes from several contractors is a good way to ensure you get a fair deal on price. Gather quotes from at least four companies. Ideally, two should be from large companies and two from small firms. That way, you’ll get a broad perspective on the typical market rate for the industry and you’ll have enough information to assess if an estimate is fair. When evaluating quotes, the two key items you should examine are:Labor costs. Are they charging a flat fee or an hourly rate? How many workers will be on-site to do the job? Ideally, the labor cost should be a separate line item. If not, ask for a breakdown to understand better the price you'll be paying. Ensure any necessary sub-trades appear on the quote as well, along with their accompanying costs. Material costs. How much material are they using for the job? Does it seem like they're using too much (which will result in you overpaying) or too little (which will lead to a higher-than-expected bill once work is complete)? All materials should list their brand names and model numbers.Look out for the warrantyA warranty is the other critical document you'll want to see from any contractor. It specifies that aspects of the labor and materials are covered and for how long. It also contains instructions for how to access the warranty service. Examine it closely to see if you're comfortable with the terms. Mac's Pro Tip A professional contractor should always be transparent and provide a warranty regardless of their trade. If they don't supply one and inform you that they'll "fix anything if it breaks down," that's a red flag.Our final thoughtsTo keep your property management maintenance costs down, you must master the skill of finding quality tradespeople at a reasonable price. Become familiar with your required services and set an appropriate budget. Ask people you trust and use online platforms to gather recommendations. Be sure to do your due diligence as well by verifying each contractor’s credentials. Whether you’re in search of an electrician or struggling to choose a roofing contractor, explore our rental property maintenance resources to know what to look for when hiring a trained professional. --- ### Quick Tips to Tackle Your Spring Home Maintenance Checklist [Quick Tips to Tackle Your Spring Home Maintenance Checklist](https://www.singlekey.com/en/ownerkey/maintenance/singlekey-spring-and-summer-cleaning-checklist/) Date: February 2, 2024 Author: Mark Gregorski Content: Spring maintenance isn’t just about boosting curb appeal: it plays a crucial role in preserving your rental's condition, safety, and value. By attending to maintenance tasks promptly and making repairs as needed, you can prevent minor issues from escalating.Download your spring home maintenance checklistsGet started by downloading your spring home maintenance checklist (one for you, the other for your tenant), and then follow our top tips to guide you through the areas that should be on your radar.Download checklist for landlordsDownload checklist for tenantsTip #1: Check for moisturePay attention to the attic and basement, where pools of water are more likely to accumulate. The build-up of water from rain and melted snow can spur mold and mildew growth.If you spot mold or water damage or the area smells musty, install a dehumidifier to lower the humidity. Also, check your property's ventilation to ensure it directs air from places like the kitchen outside rather than back into the home.Tip #2: Test smoke and carbon monoxide detectorsThe smoke and carbon monoxide detectors are two devices you should check at least once yearly, given their critical role in keeping your tenants safe. Test both to ensure they function correctly (these devices usually have a "test" button) and swap out the batteries.Tip #3: Service the HVAC systemAfter working overtime during the winter, your rental's HVAC system may need a tune-up in the spring. You’ll also want to prep the air conditioning unit to handle hotter temperatures so your tenants stay cool once summer arrives.A poorly maintained HVAC unit can lead to higher energy bills, decreased air quality, and costly breakdowns. To get the job done right, enlist the help of a qualified HVAC technician to conduct a thorough inspection and do any necessary repairs.Spring is also the ideal time to replace the air filters in your air conditioner and furnace. Doing so will ensure your HVAC system works smoothly to keep the air free from dust and dirt particles.Tip #4: Inspect the roof and chimneyFirst, clear your roof of debris, such as dead leaves and branches. Second, check for loose, damaged, and missing shingles. Water flowing beneath the shingles can cause extensive damage to your property's electrical and HVAC systems, so promptly schedule any critical repairs.Next, inspect your chimney and address any significant damage with the help of a roofing contractor. Clear out soot and tar if there's a massive buildup, as it can block smoke from exiting the property.Tip #5: Remove debris from gutters and downspoutsIt's a dirty and grueling task, but cleaning your gutters and downspouts is essential. During the winter, they can get clogged with leaves, branches, and ice, resulting in drainage problems. Eventually, the water will overflow and spill onto the walls, damaging your rental's siding and foundation.You can hire a gutter cleaner or take on the job yourself by using a gutter cleaning kit.Tip #6: Wash and inspect the siding, doorways, and exterior windowsSpring is an ideal season to give your building's exterior some attention. Consider pressure washing to remove harmful contaminants like dust, grime, mold, and algae from your siding. Pressure washers are easy to operate and perfectly safe—just be sure not to apply excessive pressure to avoid causing damage to your siding materials.Next, check your windows and doors for signs of deterioration. Apply a fresh coat of paint to the frames, repair damaged screens, and ensure all components function correctly. You can also apply new caulking or weather stripping if you discover gaps and cracks around the windows and doors. This will lighten your workload when preparing your rental for winter.Tip #7: Test the sprinkler system and outdoor faucetsActivate the sprinkler system and look for any dry patches in your grass. Fix all sprinkler leaks to conserve water and clear obstructions to ensure water flows freely. Replace any rusted or damaged components as well.Inspect the outside faucets. After turning on the water supply, check if water is dripping from the handle, spout, or primary supply pipe connection. Assess if there's any noticeable deterioration on individual parts, too.Tip #8: Look after your lawn and landscapingAfter a long winter, your property's green spaces deserve some upkeep. Your lawn is an excellent place to begin. Start by raking leftover leaves from the fall and removing thatch. From there, aerate, apply fresh seed, and spread fertilizer as needed. Ensure you trim and mow your lawn as well, to foster healthy growth throughout the warmer months. If it’s in your budget, consider hiring a lawn service to help with any necessary maintenance.Tip #9: Clean and repair the deckBegin by sweeping the debris and spraying water on the surface using your garden hose. Then, apply soap or a biodegradable product like OxiClean and scrub the deck using a bristle brush to remove dirt and mildew.Examine your deck for worn-out, loose, rotted, or damaged parts and make the necessary repairs or replacements. Also, consider applying staining or a UV and fade-resistant sealer to protect it from the elements.Tip #10: Check for pestsAs temperatures rise, pests emerge from their winter hideouts and can overrun your property. Survey your rental for signs that point to rodents, bugs, or insects. Some may carry harmful diseases, so it's vital to eliminate them quickly. The best solution is to hire a pest control company.Our final thoughtsWhile better weather makes spring an ideal time to refresh your space, rental property maintenance is also a year-long responsibility for landlords. Knowing what to look for and how to address any problem areas brings you closer to success as a property manager. Check out our Ultimate Preventative Property Maintenance Checklist to stay ahead of potential maintenance issues. --- ### Rental Repairs: DIY or Hire a Pro? [Rental Repairs: DIY or Hire a Pro?](https://www.singlekey.com/en/ownerkey/maintenance/rental-repairs-diy-or-hire-a-pro/) Meta: Take our quiz and ask key questions about whether to DIY or hire a pro to handle your rental repairs. Date: January 28, 2024 Author: Mark Gregorski Content: When it comes to rental property repairs, there are some jobs you can handle on your own and others best left to seasoned professionals. In this guide, you’ll find key questions to ask when deciding whether to do it yourself or hire help. We’ll also explain the benefits and drawbacks of each option and share perspectives from homeowners and real estate experts on both sides of the DIY and hire a pro fence. Take the Rental Repairs: DIY or Hire a Pro QuizBefore you grab your toolbox or call a tradesperson, take our quiz to help you decide how to approach your repair work.Questions to ask when deciding to DIY or hire a proStill unsure about whether you should handle the repair yourself? Here are some questions you should ask to ensure you're making a wise business decision.Will this save me time?When assessing the time commitment, be sure to account for specific constraints, such as:The time required to gather the necessary materials and toolsHow often and for how long can you be at the work site? Some projects must be completed without interruptions, while others can be spread out over several days.The time needed to review instruction manuals or tutorial videos on how to complete the projectWhether or not you'll need to obtain a permit before starting the project. Any work that calls for a permit is a job for a trained professional.What are the costs? Have you crunched the numbers and realized you face an enormous repair bill? In such cases, it's perfectly natural to lean more toward the DIY option. Refer to your rental maintenance budget to see if doing the work yourself is feasible.Labor usually makes up the bulk of a contractor's repair bill, so you can save significant money by taking on the repairs personally. However, ensure you calculate the cost of materials, supplies, tools, and equipment, as well to see the full financial picture.Do I have the right skills? Be honest and assess whether you have the right mix of skills to complete the repairs at hand.Do you have the knowledge and experience to perform the task? Are you comfortable handling any necessary tools and machinery? Have you done a similar project in the past? Can you do the work safely without endangering yourself, your tenants, or your rental?If you answered "no" to these questions, you'll be better off handing the reins to a professional.How complex is the project? Generally, the more complex the repairs, the better off you'll be letting a professional tradesperson take charge of the task. Rental maintenance tasks that require little knowledge, basic tools, and few steps to complete are good DIY repair candidates. Some examples of simple repairs include patching small holes in walls, replacing a damaged shelving unit, and repainting scratched surfaces.On the other hand, some repairs require deep knowledge, extensive labor, or pose safety hazards. These include removing mold, replacing windows, repairing foundation cracks, installing new electrical wiring, replacing water pipes, and repairing the roof.It's important to note that some repair and maintenance work requires obtaining a local permit or possessing a special license. If that's the case, there's a good chance a professional is not only more suitable financially—they're the only one who can legally carry out the work.What are the benefits and risks of DIY repairs?Cost savings vs. cost overrunsBenefits: By doing the work yourself, you avoid the labor costs that professional contractors charge. You can also shop around to get the best deals on materials and supplies for the project. While a professional can do the same, they may charge a markup, which increases your expenses.Risks: Just because DIY repairs tend to be cheaper than hiring a professional doesn't mean you'll save money in the end. Doing the work alone can take longer than anticipated, leading to higher expenses. For example, you might have to redo specific tasks multiple times until you get them right, so you'll spend more on materials and supplies. Project control vs. project delaysBenefits: If you're a DIY enthusiast who's very particular about details, you'll have greater peace of mind being at the helm of your own project. This frees you from the constraints of a contractor’s work schedule. Risks: Completing the job may take you more time than a qualified professional. You may need to spend hours researching how to execute the repairs while hunting down the right tools and materials. And there could be hidden issues that emerge once you begin the repairs, which may require more time for the project than anticipated.Learn new skills vs. make new mistakesBenefits: You'll understand how your rental property works and what it takes to maintain it. You can also apply this knowledge to repairs at your personal residence. Risks: Many rental maintenance projects appear easy at first glance. But once you get to work, the complexity of the repairs and grueling physical demands become apparent. Even applying peel-and-stick wallpaper or installing tiles on the bathroom floor are deceptively tricky tasks to execute properly. You also assume liability for any accidents that occur along the way. If someone gets hurt, you could also face a lawsuit and medical and legal bills.Here’s what one real estate pro had to say about the value of doing repairs yourself: Source: Bigger Pockets And here’s how one real estate broker sees the debate: Source: Bigger Pockets What are the benefits and risks of hiring a pro?Safety first vs. higher costs Benefits: Qualified and reputable contractors provide warranties and insurance for their work. You can rest easy knowing the project will be done safely and in compliance with local ordinances (building codes, electrical safety standards, etc.).Risks: These qualifications come at a cost. A contractor may charge you a higher hourly rate than one you’d charge for doing the same work yourself. There may also be markups for materials, tools, and equipment.More spare time vs. less control over timelinesBenefits: If you have a packed schedule, outsourcing the work to a professional is the right choice. In doing so, you can prioritize your day job, spend more time with your family, or focus on other aspects of your rental business. Risks: A professional contractor may not follow your exact specifications, resulting in work that doesn't align with your expectations. They may also cut corners to save time and adjust their schedules according to their needs. This can be a problem if you want to fill a vacancy quickly but the repair work is delayed. Quality and savings in the long run vs. poor quality and markupsBenefits: Professional tradespeople will do the job right the first time (provided they're competent and reliable), so you don't have to worry about spending more to redo shoddy work. They're also more likely to secure discounts on materials as they order them in bulk.Risks: No matter how much due diligence you do, there's always the risk that you'll choose a contractor who's unsuitable for the project, leading to poor-quality work. In the worst case, a contractor may employ shady tactics, such as billing you far above the average market rate or doing more work than is necessary to justify an inflated invoice.Here’s one homeowner’s experience working on his own repairs: Source: Bigger Pockets And here’s what a rental property investor had to say about the importance of finding reliable contractors: Source: Bigger Pockets Our final thoughtsDeciding whether to go the DIY route or hire a pro isn't a decision to take lightly. Whatever choice you make can significantly impact your bottom line, tenant satisfaction, and the long-term value of your rental.If you decide a repair is too complex or dangerous to carry out independently, or if the work requires specialized skills and tools, explore our maintenance resources and find out how to hire and work with the right tradespeople. --- ### Rental Property Maintenance Costs: How Much Should I Budget? [Rental Property Maintenance Costs: How Much Should I Budget?](https://www.singlekey.com/en/ownerkey/maintenance/rental-property-maintenance-costs-how-much-should-i-budget/) Meta: Here’s how much to budget for your rental property maintenance costs and how to reduce maintenance expenses. Date: January 28, 2024 Author: Mark Gregorski Content: Creating a realistic maintenance budget for your rental property can make or break your rental business. When deciding how much to commit, balance quality and cost. Your rental should be safe and comfortable for your residents, but also affordable for you to maintain.Read along for guidelines to help determine your rental property maintenance costs and expert tips for keeping your maintenance expenses low.Budgeting guidelines for your rental maintenance costsThere’s no denying that conducting regular maintenance is a critical part of your rental business. Without proper upkeep, your property will quickly fall into disrepair, leading to costly repairs and driving away tenants.But how much money should you set aside for maintenance expenses? The truth is there are no hard-and-fast rules for figuring out the optimal amount. However, there are several guidelines you can use to estimate your expected costs.  Rules of thumb for rental maintenance budgetingIn addition to the above formulas, there are several others that property managers use to account for maintenance costs: Previous image Next image The Rental Property Age RuleAccording to SingleKey’s resident landlord, MacKenzie Wilson, a rental property's age heavily influences its maintenance requirements. He recommends allocating a percentage of your monthly rent fee as follows to your maintenance budget:2% of your monthly rent for a brand new property (under five years)4-5% of your monthly rent for a 5- to 10-year-old property8% of your monthly rent for older properties (over ten years) While these guidelines are handy, remember they’re only rough estimates and should be used as a starting point. Mac's Pro Tip A realistic maintenance budget should reflect your rental's needs. That means you'll need to understand your property inside and out, from its age, condition, and the materials used in its construction. The best way to accomplish this is by doing routine inspections.Budgeting for larger rental maintenance expenses  Do you live in an area that experiences bitterly cold winters or scorching summers? If so, you'll need to factor into your budget maintenance costs that come with preparing your rental for drastic swings in temperature and weather conditions. Also account for bigger, one-time maintenance costs that could dip into your rental reserve fund. Start saving in advance by using this chart for some of these bigger ticket maintenance items.  ItemAverage costAverage lifespan (years)HVAC unit$5,000–$10,00015–25HVAC air compressor$1,350 and $2,30015–25Landscaping$1,261–$6,023N/AGas stove$800–$2,30015–23Electric stove$650–$2,800 13–20Roof$5,849–$12,83520–25 (asphalt shingle)Exterior door$1,25020 (vinyl), 40 (screen)Sewer line$3,000–$6,00050–100How to keep rental property maintenance costs downHere are some tips for keeping your rental in great shape without hurting your wallet.Know when to DIY and when to hire a professionalMake an honest assessment of your skills, knowledge, and comfort level concerning property maintenance. What tasks can you perform well? And, just as critical, can you get the work done in a reasonable time frame without spending a small fortune?In some cases, letting professional technicians handle things is much more financially savvy. Even if you have plenty of free time to do repairs, you risk causing significant damage if you lack the proper expertise. Learn more about how to decide whether to DIY or hire a pro for any repair work.Plan ahead for seasonal maintenance expensesWhile some maintenance tasks are predictable and performed frequently, others only need attention once or twice yearly. A notable example is landscaping.Given the irregularity of seasonal tasks, budgeting is trickier. Start planning early for the upcoming work to avoid getting caught off guard financially. Increase your budget as necessary to accommodate the extra outlays and start saving up the required funds.Conduct regular inspections to catch issues earlyMinor damage, such as worn-out electrical wiring or a malfunctioning appliance, can lead to costly repairs if left unattended. If the problem grows severe enough, fixing your property can take months, which may lead to lost rent if it's unsuitable for occupancy.Avoid maintenance-related financial disasters by detecting issues early through routine rental inspections. The sooner you can spot trouble, the sooner you can act to fix it.Take advantage of government rebates and tax breaksGovernments at all levels (local, state, and federal) may offer various rebates and tax breaks related to your industry. If available, consider applying for them to reap some extra savings on your property's repairs and maintenance.The most notable examples of financial relief are those that encourage the use of eco-friendly building materials and items like appliances.For example, in Canada, you can apply for the Canada Greener Homes Loan, which provides grants and interest-free loans to homeowners to make their spaces more energy efficient. Similarly, in the U.S., you can access home efficiency rebates and home electrification and appliance rebates, which are available if you retrofit your rental with energy-saving items. Our final thoughtsCreating a budget is essential to avoid overspending or underspending on your rental's maintenance. While estimating your expenses at first can be challenging, you'll get a better feel for how much to spend with time and experience.Choose a budgeting method that's realistic for your property type based on the guidelines discussed in this article. Keep your maintenance costs low by outsourcing the work to professionals as needed and sticking with durable materials. And, as always, plan ahead of time for large-scale maintenance projects so that you have sufficient cash on hand to pay for them.While guidelines for calculating maintenance costs are helpful, inspecting your property is the most accurate way to determine your budget. Check out our guide for helpful tips on conducting an effective rental inspection. --- ### Finding a Pool Service for Your Investment Property [Finding a Pool Service for Your Investment Property](https://www.singlekey.com/en/ownerkey/maintenance/finding-a-pool-service-for-your-investment-property/) Meta: This guide will outline pool maintenance services, what to look for in pool cleaning quotes, and what affects the maintenance cost of your rental property pool. Date: January 15, 2024 Author: SingleKey Content: Keeping a pool clean, sanitary, and safe to swim in is a never-ending, time-consuming chore for a pool owner. When a pool is neglected, repairs add up. The best solution for landlords is to hire a pool professional to guarantee your private backyard oasis is cared for properly. We’ve created a guide for property owners searching for a reliable pool company.Swimming pool addendumHaving a pool addendum in a lease agreement will establish guidelines and help manage the expectations of your tenants. Here are some rules you may outline in an addendum to avoid liability and clarify responsibilities. Use at your own risk: Avoid liability issues if there is an accident or the pool is not correctly shocked. Child supervision: Always supervise small children inside the pool or in the proximity of the pool. Pool maintenance responsibility: Clearly state if the tenant is responsible for maintaining the pool and what those responsibilities are. Damages to the pool: If there are any damages, the tenant may be obligated to cover costs or have the funds deducted from their security deposit. Swimming pool service offeringsMany pool owners use pool services because it takes a lot of work to maintain or restore it to good condition, especially if the previous tenant neglected maintenance. The following services are typically included for keeping the pool water clean: Testing and adjusting chemical and pH levelsChecking water levelsPool shocking (adding chlorine or the appropriate chemicals to the pool)Cleaning the pool’s bottom and wallsAdding algae removal products, if applicableCleaning the pool filterA professional pool cleaner will have all the pool equipment needed to do the job.Pool filter, drain, and pump repairsMost pool owners must replace a pool filter every few years. A pump motor replacement is due every 10 to 15 years, depending on its condition. Your pool pump is a significant energy user in your home. When it’s time for a replacement, consider using a smaller, more efficient pool pump to save energy and cut costs on your electric bill. Replace your pool filter when it starts leaking or degrading over the years. To minimize the loss of swimming pool water, the United States Environmental Protection Agency (EPA) suggests a DIY leak test or hiring a professional. It’s okay to ask the tenant to manually add water to the pool if the water levels are low. Estimates for regular pool maintenanceMany contributing factors affect the cost of pool services. First and foremost, there is the pool’s size, shape, and type. For instance, is it an in-ground, infinity, or above-ground pool? What shocking chemicals and methods are required? The amount of sunlight, extreme weather, travel time, and frequency you need maintenance can hike up the costs. Ask the pool person about their experience with your specific type of pool, how they would handle leaks, and if they can provide a written estimate for weekly or monthly visits. The average annual costs for standard pool maintenance tasks can range from $960 to $1,800 annually.The pool service should provide the following in a quote:Maintenance services offered (skimming, vacuuming, chemical balancing, inspection)Frequency of services (weekly, bi-weekly, monthly, annually)Labor costsMaterials and costs Duration of the maintenance contractMost pool maintenance professionals should be licensed and insured. While an official training certificate is not required, most pool technicians should have sufficient on-the-job training.Here is an example of an estimate with sufficient details:Here is an example of an estimate lacking information: FAQ: Finding a pool service for your investment property What does every pool owner need to know? A pool should be tested weekly, if not each time you use it, to ensure it is safe to swim in. Untreated pool water can cause infection and disease. Should I cover up my pool? While many pool owners keep their pools uncovered, the EPA suggests that pool covers effectively minimize pool water and energy loss. If you plan to save on maintenance costs during winter, a pool cover will help keep out unsightly debris and a pile-up of leaves. Is hiring pool maintenance worth it? Pool professionals come in handy if you want to ensure the pool water is always safe, are renting to tenants, or want to lighten your load of preventative maintenance around the rental property.Many pool professionals are affordable. Shop around for costs to get the most experienced and trustworthy company. Our final thoughtsA sparkling, clean pool on a well-maintained property will entice many prospective tenants to choose your rental property as their home. To protect the value of your investment property and keep your tenants happy and safe, hire a professional pool service that will maintain your pool, keeping it in pristine condition. Many seasonal preventative maintenance tasks can crop up when fall and winter are near, which is why landlords hire experienced professionals. Whether you are new to the property management business or want to polish up on handling property maintenance, read SingleKey’s guide on managing property maintenance issues. You can also refer to our cheat sheet on preventative maintenance for a quick checklist. --- ### Spotting Foundation Issues in Your Rental Property [Spotting Foundation Issues in Your Rental Property](https://www.singlekey.com/en/ownerkey/maintenance/spotting-foundation-issues-in-your-rental-property/) Meta: When your foundation is unstable, visible signs will point to trouble. Look for cracks, creaky floors, or uneven walkway slopes to find foundation issues. Date: January 12, 2024 Author: SingleKey Content: Most structural deterioration is caused by environmental factors or improper construction that doesn't meet building codes. At the first hint of structural problems, landlords often hire the first concrete contractor they contact. When your investment property is the most significant part of your nest egg, you must learn to act on preventative maintenance and interview different potential contractors to ensure you get honest estimates and quality work.Common foundation repairsSome initial troubling indications of structural issues in your foundation are cracks in the walls and floors, uneven sloping in the ground, or bulging walls. Many times, the standard repairs that a homeowner may need for a foundation issue include:Crack repairsSettling and sinking repairsLeak repairsBowing wall repairsWhile it's rare for a home to collapse due to structural problems, a home or apartment building that rattles or makes loud noises is an alarming symptom that the foundation is crumbling. You should act fast and advise your tenants to evacuate the dwelling while it's being inspected. A condo building that made headlines for its collapse in 2021 was the Surfside Condominium in Miami, Florida. One structural engineer report warned of major structural damage almost three years before the collapse.For more alarming structural concerns, look for loud creaking sounds throughout the home and deep cracks in load-bearing structures.Foundation repair methodsAfter a foundation repair contractor conducts their inspection, there are various standard repair methods they will propose, including:Foundation jackingBasement underpinningWall stabilizationFoundation sealingHelical piers installationTemporary and permanent solutions for repairs can range between $30 and tens of thousands of dollars, depending on the severity of the problems.Factors that affect the project costMost costly repairs occur when a sizable area needs mending or there is more complexity to the concrete projects. An element obstructing access to the work area, like hedges, trees, or interior structures, can also increase costs. For instance, if there are compromises in your concrete slab foundation, a foundation expert may suggest installing piers as a solution or doing a slab pour on your piers. The foundation contractor may need to consider root barriers for trees or hedges planted near the foundation. According to Today's Homeowner, the average cost of installing piers can range between $1,000–$3,000.Piers are typically installed for soil stability and stabilizing foundation walls. Permits will add additional costs to the final bill. Cosmetic repairs, such as vertical cracks in the foundation, will likely be less expensive than critical structure repairs. Horizontal cracks may point to critical issues in the foundation. Finding a foundation repair contractorA foundation repair company should have a licensed contractor with the right level of education and certification. Check your local online resources to find a licensed contractor. Shopping around for a concrete repair person is essential to ensure you won't get overpriced quotes. Read online reviews to help weigh your decision and ask for estimates to review the work descriptions and material costs. A fair and trustworthy foundation repair company will choose a lasting and economical repair method that prioritizes critical repairs.Concrete contractor estimatesThe average cost of foundation repairs can be on the low end of $2,000 and the high end of $20,000, depending on different variables. No matter the cost of the foundation repair project, the company should provide a detailed quote of the work they are proposing. Before you get an approximate calculation, the contractor will perform foundation inspections to check for concrete lifting, foundation cracks, uneven floors, or any extensive repair needed.Here are some of the following items that a foundation repair specialist might include in a quote:Labor costsMaterials costsInspection feeTimeline to completionDetails of the labor needed, using a clear breakdown of the workCondition of the area needing work, including the soil conditions, accessibility to crawl space, or minor cracks in the concrete foundation, for exampleRequired permits, if applicableWarrantyExamples of a good vs. bad concrete contractor quote A good concrete contractor quote A bad concrete contractor quote Previous Next FAQ: Hiring a concrete contractor for your foundation issues How do I choose a certified foundation repair company? Look at online reviews to find reputable contractors. Ask for recommendations and get detailed quotes to shop around for estimates. How do I interview the foundation repair professional or company? Each prospective contractor should conduct a preliminary survey or inspection of the foundation issues in question. If you suspect the soil or ground is sinking beneath your home, ask your contractor if they have crawl space repair experience or experience with similar jobs. Comparing estimates is crucial to avoid overpriced materials or choosing contractors who overlook critical repairs. What are common foundation problems? Common foundation problems include cracks in basement walls or floors or outdoor water damage near the home when there is no proper drainage. Many small cracks could count as minor repairs and not present a real threat to your home. A professional will identify if an issue has the potential to grow into a costly repair. Our final thoughtsFind an experienced contractor if you observe potential issues in your foundation. Not only will concrete experts be able to repair minor and major structural damage to your concrete, but they can also help advise you on how to prevent further damage, which may include waterproofing the foundation and installing gutters and downspouts to avoid water damage.There are various approaches a landlord must consider when managing a variety of maintenance issues on the rental property, including non-urgent, preventative, or repairs that signal immediate attention. Learn how to manage anything that comes your way effectively by creating a maintenance calendar, conducting routine inspections, and documenting any damages or work you've done to the property. We’ve developed the ultimate preventative property maintenance checklist to help you get ahead of foreseeable issues. --- ### How to Conduct a Rental Inspection (Checklist Included) [How to Conduct a Rental Inspection (Checklist Included)](https://www.singlekey.com/en/ownerkey/maintenance/how-to-conduct-a-rental-inspection-checklist-included/) Meta: Here's how landlords can use a rental inspection checklist to document and inspect their rental properties efficiently. Date: January 12, 2024 Author: MacKenzie Wilson Content: As a long-time landlord, a fundamental part of my job involves conducting inspections of my rental properties. While this task isn’t the most exciting aspect of managing a rental, it’s absolutely critical if you plan to stay in this business for the long run and retain your tenants.In this guide, I'll share my tips for how to do a rental inspection, which areas need your attention, and some background on the laws you must follow before entering a tenant-occupied property. Using a rental inspection checklist When performing an inspection, keeping detailed records is crucial. Before starting, I recommend creating a checklist of the items you need to examine. During the inspection, jot down your findings, such as worn-out parts that need replacement or appliances that don't work. Here’s a comprehensive checklist you can use for any routine or secondary inspection:Download the Essential Rental Inspection ChecklistProper documentation is necessary for two reasons. The first is to stay up to date with your maintenance duties. This helps you get ahead of any issues immediately and prevent pricey repairs down the road.The second is for insurance purposes. If you file an insurance claim for any severe damage to your property (such as a fire), your documents will prove that you were onsite doing regular inspections. Types of rental inspections There are four types of inspections I recommend doing to keep your rental in top shape: move-in, routine, secondary, and move-out. Move-in inspection This is an inspection that you do alongside your tenant when they first move in. Assess the property’s condition and document existing damage and areas of concern. The details are then compiled in a report, which you and your tenant will sign and date.You can use the move-in inspection report to show that the property was in good shape before the new tenant arrived. The tenant can also use it to prove they’re not accountable for any damage that occurred before they moved in.In many jurisdictions, a move-in inspection is mandatory. But even if it’s not, I strongly recommend doing one. It can help minimize the risk of potential disputes.Download a Move-In Inspection Report Template Routine inspection A routine inspection is one that you perform on a regular basis, ideally with your tenant. With two annual check-ins, you’ll be at the property often enough to resolve any issues before they worsen. Though residential tenancy laws don’t require routine inspections, a good rule of thumb is to schedule them at least twice a year, usually during the spring and fall. Use our handy rental inspection checklist to record your findings. Secondary inspection In addition to your routine inspections, it’s worthwhile to drop by the property occasionally and scan the outside for potential issues. You can document any visible signs of damage with this rental inspection checklist, which has a section dedicated to the exterior of your property.Unlike a routine inspection, you won’t have to enter the property. Remember to be discreet and don’t disturb your renters.  Move-out inspection When your tenant moves out, do a walk-through of your rental with them. Use the same checklist that you used for the move-in inspection. This will help you identify damage that the renter may have caused. If it’s severe enough, you may have to withhold their security deposit to cover the cost of repairs.A move-out inspection also allows you to assess the property’s overall state. You may need to invest time and money in upgrades, replacements, and renovation before inviting a new tenant to make it their new home. Rental property inspection guidelines to knowDoing a rental inspection isn't as simple as knocking on your tenant's door and asking to be let in. Yes, it's your property, but your tenants have certain legal rights that restrict how and when you may enter the premises. As a landlord, it's your obligation to comply with these laws (which vary from state to state). When a notice of entry is required The most important law to be aware of relates to notice of entry. In many jurisdictions, you must notify tenants at least 24 hours before entering the property. This notice must be in writing, describe the nature of your visit, and provide the date and time you'll arrive. You must also sign this notice.In addition, you may only enter the property during a specific time frame during the day and at no time on holidays. There may also be restrictions on how often you can perform an inspection, such as once per month in British Columbia. When a notice of entry isn't required But what if your state has relaxed laws regarding property inspections? For example, Texas has no specific rule for how much notice to give tenants before entering a rental.In such cases, give your tenant more notice rather than less—at least 24 hours, ideally more. Be considerate of their privacy and the time they're giving up. In my experience, it takes about 25-30 minutes to inspect a rental unit that's 1,000 square feet or less. With this in mind, provide as much information to your renter as possible about how long the upcoming inspection will take.More rental inspection resourcesTo learn more about your region's laws regarding entering occupied rentals, visit the following links:Rental resources in Canada Rental resources in the U.S. Pro tips to inspect your rental property Following a steady routine, using a checklist, and tracking your progress are key elements of a successful rental inspection. But you can make each property checkup even more efficient by applying the following tips:Ask your tenant to help with inspectionsDoes your rental inspection checklist feel like it's a mile long? If so, the good news is that you don't need to inspect every nook and cranny yourself. You can lessen your workload by asking your tenant to complete simple, everyday tasks.For instance, ask them to inspect the furnace periodically and change the filter when necessary. You can even deliver a spare box of filters to the property to make the task a breeze for them.Of course, if you want to go down this road, don't simply hand over a bunch of chores to your tenant and trust that everything will be fine. As the saying goes, "trust but verify." Check up on them during your routine inspections to ensure they're doing the work they agreed to do (taking before and after photos can help). If things go well, delegate further inspection duties to them over time.Document your inspections using a variety of formatsDon't rely solely on pen and paper to document your inspections. While physical records work fine overall, they can easily get lost or damaged. Digital records are better; you can store them safely on the cloud or an external hard drive and make multiple copies with the click of a mouse.Photos and videos are an excellent way to document the state of your rental over time. They're also a more compelling way to collect and present evidence, particularly if you become involved in a legal spat over property damage. For example, if your furnace breaks down, you can provide the manufacturer with photos showing that you've done your part to keep it running within the warranty’s standards, such as routinely replacing the filter.Communicate effectively with your tenants I strongly encourage you to invite your tenant to accompany you during routine inspections. That way, they'll understand the process better and learn some helpful maintenance tips. By looking for areas to fix or improve together, your tenant won't view an inspection as invasive but as a collaborative effort to keep the property in good order.A rental inspection also lets you check in on your renters to see if they're happy with the condition of the property. Since you're not the one living there, you may accidentally overlook something critical. Ask them if any issues need attention, such as a malfunctioning appliance or a clogged pipe.If you show your tenants that you're approachable, cooperative, and always ready to resolve problems in a timely manner, you’ll make them feel comfortable reporting issues that affect the property. They may also actively work with you to fix them.Our final thoughtsConducting inspections is one of the most important things you can do as a landlord to keep your investment in top shape. It's the best way to remedy issues that require critical repairs and ensure your tenant is covering their maintenance duties.When it comes to inspections, proper planning and execution are key. Visit the property regularly and stay organized by bringing a checklist of what to examine. Meticulously document your findings and take photos and video evidence where necessary. Have your tenant accompany you during the inspection and allow them to ask questions and voice their concerns. Mac's Pro Tip Once you know how to inspect your rental inside out, the next step is to address any problems you've discovered. For valuable tips, check out this guide on handling maintenance issues in your rental. --- ### Hiring a Gutter Cleaner for Your Rental [Hiring a Gutter Cleaner for Your Rental](https://www.singlekey.com/en/ownerkey/maintenance/hiring-a-gutter-cleaner-for-your-rental/) Meta: Find gutter contractors or lawn maintenance companies specializing in cleaning gutters to ensure your roof and gutters are debris-free and ready for winter. Date: December 21, 2023 Author: SingleKey Content: A well-maintained and clog-free gutter is vital for keeping debris and stagnant water off your roof. When your investment property is based in a cold or rainy climate, it will need cleaning and maintenance at least twice annually.Continue reading to learn how to find gutter companies, what to look for in estimates, and what you can expect to pay annually for a professional company or contractor's services.What services do gutter contractors perform?An experienced gutter contractor will be adept at installing gutters and gutter guards and capable of doing all gutter maintenance and repairs. Here are some of the following services you will get from a contractor specializing in gutters:Debris and leaf removal from guttersInstalling gutter guards to minimize debris from trickling insideHome siding repairs Securing loose downspoutsInspections of gutters and roofUnclogging downspoutsSite cleanupShould you hire gutter cleaners for your rental?A professional contractor with experience cleaning and maintaining gutters will identify problem areas and can help advise on what type of maintenance is needed. Keeping your gutters free of debris is essential to ensure the rainwater and snowmelt are channeled away from your roof and home.Typically, a homeowner would hire gutter installers when their roof has multiple slopes and needs a drainage system. Another instance when a gutter installer could help is to protect the home from water pooling on the roof or near the home's foundation. Rain gutters can protect against water damage that may compromise the home's structure or lead to mold infestations in cases of severe water damage.Many homeowners look online or ask for references to find a reputable contractor or gutter installation company. Whether you need a new gutter system, gutter replacement, or seasonal cleaning, ensure the roofing companies being considered have liability insurance. Not all U.S. states and Canadian provinces require a license specific to gutter installation service or cleaning; however, most companies do need a business license and some construction training for installations. Check out Better Business Bureau (BBB) for a reputable company and Google My Business pages. Yelp is also a great source to read online reviews. Some landlords have a professional lawn service that also offers gutter cleaning services.What to look for in a cost estimateWhen shopping around for roofing contractors or gutter cleaners, evaluate every item listed in the estimate. The primary elements that will influence the cost of service may include:Property height: When your home is taller, it becomes more challenging to reach the gutters and poses higher risks.Accessibility to the roof: Is anything obstructing the path to access the roof, like hedges or landscaping, that may make the job more complex?Gutter length and width: More work needs to be done with added length and width.Other factors impacting the cost of cleaning include the gutter condition and the traveling time it takes the contractor to reach the residence. If the contractor can arrive at the rental home in less than an hour, it's unlikely that they will charge for travel. Some additional local labor and material costs may apply. Here are some essential items that you may find in a detailed estimate:  Scope of the service (cleaning, flushing, repairs, etc.)Labor and material costsTimeframe for completing the job (each job will vary) Travel fees, if applicableDescription of each task, including cleaning and downspout servicingAdditional fees will include repairs and added appliances, like guards or installationWarranty, if applicableHere are examples of a detailed estimate and one that lacks the necessary information:   A good gutter cleaning estimate Gutter cleaning estimate with insufficient information Previous Next Mac's Pro Tip Due to the inherent risk of working on ladders from tall heights, ensure that your contractor has proper insurance so that you’re not liable for accidents on the property.FAQ: Hiring a gutter cleaner for your rental How much do people charge for cleaning gutters? The cost will vary depending on how clogged your gutters are, how many gutters you have, and the gutter’s length and height from the ground. Usually, a property owner can expect to pay anywhere between $80 and $250.  Whose responsibility is it to clean gutters, the tenant or the landlord? Landlords who allow the tenant to clean the gutters are taking the risk of being liable for damages to the property or tenant injuries. Landlords are responsible for hiring a professional lawn service or offering gutter cleaning services to manage this risk. How often should gutters be cleaned? Twice annually. Usually, homeowners should clean their gutters in the spring and fall before winter. If you can only clean your gutters annually, we recommend cleaning them during fall. If you’re a landlord, it’s best to establish a maintenance calendar for preventative maintenance to avoid spending thousands of dollars on repairs.  Our final thoughtsWhile your tenant handles most maintenance tasks that don't require specific training or expertise, maintaining gutters should be the landlord's responsibility.  Learn more about which maintenance tasks you should handle as a landlord and which ones you may consider delegating to your renter.  --- ### Hiring an HVAC Contractor and Keeping Up With Maintenance [Hiring an HVAC Contractor and Keeping Up With Maintenance](https://www.singlekey.com/en/ownerkey/maintenance/hiring-an-hvac-contractor-and-keeping-up-with-maintenance/) Meta: Hiring an HVAC contractor for cooling, ventilation, and heating needs will get repairs fixed. These contractors conduct annual maintenance and install replacements. Date: December 20, 2023 Author: SingleKey Content: When the air conditioning quits working in the sweltering heat, or you have a faulty furnace that needs repairs when it's cold outside, an HVAC technician can help diagnose the problems, make repairs, or remove an unrepairable HVAC unit to install a replacement. As a landlord, it's important to interview these essential workers for when you need your HVAC units serviced. Annual maintenance of an HVAC system An essential goal for all landlords is to provide a comfortable shelter for their tenants during the winter or in summer's stifling heat. You can take a few preventative steps to minimize the chances of air conditioning or furnace failure and extend the longevity of your HVAC system. Most of these upkeep tasks can be done by the landlord, but if you manage multiple units or live far from your rental property, calling an HVAC specialist will be the best solution to ensure your furnace and air conditioning unit are in excellent condition. You can conduct regular cooling and heating-specific maintenance, according to Energy Star. HVAC annual maintenance checklist for landlords: Change the filter every three months Look for leaks around the unit Eliminate clogs in the water line Remove dirt or debris from the outdoor unit Observe humidity levels Cooling maintenance: Clean condenser and evaporator coils Check refrigerant level Adjust blower components Heating maintenance: Check gas and oil connections Observe gas pressure and burner combustion Common HVAC repair services Just like a car or anything of value you want to preserve, your HVAC system is an investment. When you avoid regular maintenance, or your system is older and operating less efficiently, problems can turn up––this is when you call in a professional. Customarily, you would contact a heating, ventilation, and air conditioning professional when the following problems arise: Electrical problems Issues with the ignition or furnace fuse being blown Leaking refrigerant lines Malfunctioning thermostat Poor airflow Water leaks Suboptimal temperature distribution Furnace repairs and replacement How to find a reputable HVAC contractor The Better Business Bureau caters to people in the States and Canada who are looking for potential contractors. Landlords can also turn to online reviews to get a good sense of the quality of work the contractor provided to other property owners. Most customer reviews are honest, stemming from their experience, and will help you come to an informed decision. All HVAC technicians must hold a special certification to work in the United States, though proper licensing requirements may vary in each state. Most Canadian HVAC technicians need a vocational education and additional training to work in heating and cooling services. How to review cost estimates Some of the critical factors in deciding which contractor you want to hire for HVAC maintenance, repairs, or installation are how much experience they have, whether they are certified to perform complicated tasks, and what their cost estimate breakdowns are. When reviewing a quote, look for the following items when applicable: Summary of the work needed Appliances, including brands and model numbers Labor costs A timeline to accomplish the job Regulatory compliance statement (some contractors include this in quotes to avoid legal trouble) Look for itemized estimates when reviewing a quote after the contractor conducts their inspection. HVAC cooling estimate with good details HVAC cooling estimate with insufficient details Previous Next Many landlords take out a home warranty for their rental property to help cover the costs of repairs and replacements for a single appliance. Homeowners can pay bundles of services that will cover the cost of technician maintenance, repairs, and replacements. The homeowner pays an annual premium and set service fee each time a contractor visits the property. A home warranty annual premium can cost between $644 and $740, as reported by This Old House. Factors that can influence costly repairs When the estimate is higher, it's normal to wonder why the repair or replacement is so expensive. Here are some factors affecting the price of HVAC repairs: Age and condition of equipment Size and complexity of HVAC unit Energy efficiency of unit Complexity of service/repairs FAQ: How to hire an HVAC professional What does HVAC consist of? HVAC includes all heating, ventilation, and air conditioning. Generally, if your furnace fails or the cooling system needs repairs, you would contact an HVAC professional to assess the problems and implement repairs. Should an HVAC contractor have liability insurance? Most professional contractors have liability insurance to protect themselves and their employees from some of the inherent risks of doing repairs related to any type of construction or electrical unit. What are a landlord’s property maintenance responsibilities? Landlords are in charge of making sure that the heating and cooling systems work properly in the rental home. In addition to thermal comfort, some other routine maintenance that a landlord is responsible for includes calling quality contractors for mold and bed bug infestations, some lawn maintenance, and major appliance repairs. Our final thoughts The landlord is responsible for finding service providers and ensuring the tenant has proper heating and cooling in their home. If you're new to managing properties, learn more about resolving rental property maintenance issues. --- ### Hiring a Repair Person for Your Driveway and Sidewalk Needs [Hiring a Repair Person for Your Driveway and Sidewalk Needs](https://www.singlekey.com/en/ownerkey/maintenance/hiring-a-repair-person-for-your-driveway-and-sidewalk-needs/) Meta: A new driveway for your investment property can boost your home's curb appeal and value. The most popular choice is affordable, classic, and durable concrete. Date: December 19, 2023 Author: SingleKey Content: A concrete foundation and driveway can slope, crack, or fracture due to changing weather conditions, stress under excessive weight, or encroaching tree roots. Property owners can increase the value of their homes by making repairs and appealing to quality tenants with an attractive and fresh-looking yard and driveway. Improving your rental property with a concrete contractor Hiring a concrete contractor to install a new driveway or repair a damaged one will save you time and ensure your driveway looks impeccable. Apart from enhancing your curb appeal, a refreshed driveway can raise your home's value. Driveway styles There are various options for choosing the type of material for driveway installation. Depending on your chosen material, it can affect the cost, longevity, appearance, and maintenance of a new or complete driveway replacement. Gravel  A gravel driveway will add a timeless elegance to the front yard, especially if you plan on creating a horseshoe design. While gravel may seem like a fast and easy solution, routine maintenance is needed, and it will usually last for two to three years before needing replenishment. Some driveway issues that can arise with gravel are an uneven path, water pooling, or potholes. Regularly raking your gravel and ensuring the ground is properly graded before adding it is ideal to extend the lifespan and keep it well-maintained. Asphalt Asphalt driveway is an attractive choice if you have space for a long driveway, want something more unique and less expensive, and don't mind resealing it every few years. Pavers Pavers are a sophisticated choice with a higher price tag, but they are well worth the cost. They are long-lasting and will upgrade the look of your exterior. A paver blends stone concrete, clay brick, and sometimes porcelain. Bricks Bricks are costly but are the optimal choice due to their reputation for longevity. With a brick driveway, you can do custom contemporary designs that embody a timeless aesthetic with little upkeep. Concrete There is a reason why concrete is so popular, and that is because it is durable and relatively low maintenance. Concrete is less expensive than bricks and pavers, yet will last a lifetime. Common concrete driveway repairs Concrete driveway contractors can take several days to complete installation. A concrete driveway resurfacing project will vary between a few hours and days. Resurfacing will restore the look and integrity of your asphalt. Typically, concrete will develop large cracks caused by a freeze-thaw cycle in weather conditions. When rainwater or snowmelt seeps into small cracks in the concrete, followed by the temperature dropping below 32°F, the water will freeze and begin expand the concrete, prompting it to crack. Snow removal is essential. Other destructive environmental factors to the concrete are tree root growth from your yard or neighbors. Big pervading roots can cause the concrete to crack significantly, fracture, and lift. While oil stains might be unsightly, they won't necessarily cause the concrete to deteriorate. To remove oil stains, you can use a degreasing dish detergent and scrub stains away with a rigid broom, according to Bob Vila. If you live a few hours away from your rental property, hiring a driveway company or contractor to visit the property and conduct maintenance and cleanup is an optimum solution. Getting quotes from a driveway contractor When interviewing a driveway company or contractor, two of the most important things you should do are to review their portfolio and ask for written estimates. Whether you intend to do a repair or a new installation, a good quote will answer all your questions and help you make an educated decision. Look for the following items when reviewing a quote after the contractor conducts an on-site inspection: The size of the entire driveway and sidewalk Type and extent of damage Work and cost involved, including sealing, leveling, and patching repairs City permits, if applicable Labor costs Additional services, such as removing roots or plants that are the source of the damage Materials costs Expected start and completion date Most driveway and sidewalk repair project quotes are based on the square footage and materials needed. Beyond the size and material costs, labor costs are added on. If the driveway company provides you with a warranty claim, look to see how long they have been in business. The warranty will be meaningless if a company has been in business for only a couple of years and goes out of business. Here are some factors that could influence the price: Material removal, including large roots and plants Driveways built on steeper slopes Severity of the repairs needed Here are examples of a good quote and another quote that's lacking sufficient information. A descriptive concrete driveway estimate A concrete driveway estimate lacking details Previous Next FAQ: Hiring a driveway contractor for your rental property What questions do you ask when getting a new concrete driveway? Ask about the driveway contractor’s approach to repairing cracks, potholes, or fractures. Also ask how long they have been in business and how much experience they have in completing the type of project you need. Most importantly, request a written quote to see how much you can expect to spend and how long the job will take. How much would a concrete driveway cost? A new installation can range between $2,000 and $4,000. According to HomeGuide, the average cost of concrete driveways is between $8 to $12 per square foot. Does a concrete driveway increase a home’s value? It will increase the curb appeal, and therefore, will increase the home’s value, if the installation is done properly. Our final thoughts When you want to improve your odds of attracting quality prospective tenants, updating your investment property's interior and exterior is the first step. The most essential step in approving trustworthy tenants is to use SingleKey’s Tenant Screening services. Learn how to screen tenants like a pro and get SingleKey's extensive Tenant Report. --- ### Finding a Painter for Your Rental Property [Finding a Painter for Your Rental Property](https://www.singlekey.com/en/ownerkey/maintenance/finding-a-painter-for-your-rental-property/) Meta: Always get a painter's estimates. Ideally, the landlord should contact at least three companies to compare the cost of services, materials, and the completion date. Date: December 13, 2023 Author: SingleKey Content: If you’re a property owner who has decided to find prospective tenants for your home, the first order of business is to give the interior of your home a clean slate by making it look and feel as if it’s never been lived in. The most effective way to transform a space with lots of wear is with a fresh coat of paint. Learn how to find professional painters, check qualifications, and spot a good quote to answer all your questions. Why hire professional painters for your rental? The very thought of having to paint one room, let alone an entire apartment or house, can feel daunting. Whether you want to paint over an old wall that boasts many coats and layers of paint throughout the years, flawlessly cover garish hues with neutral colors, or have someone remedy the paint drips from a previous job, hiring a professional to spruce up the living space may be the best solution. If the condition of the walls is poor, a painter and drywall contractor can make your walls look brand new. What qualifications to look for in painting services The qualifications needed for residential professional services will vary from state to state. While many states require a license for big projects, it’s not mandatory in most states if the project’s scale and costs are minimal. For instance, in California, a contractor altering a building with project costs that exceed $500 will require a license, including contractors specializing in residential painting. A house painter or commercial painter needs a license when the project exceeds $50,000 in Alabama. Residential painters aren’t required to get a license in Canada, except for Quebec. The name of the license is 404C Painter and Decorator certificate. If the project is small and you’re looking for a house painter or someone who can paint your apartment complex, look at online reviews. Ask how they plan to repair paint drips or punctures in the drywall. Mac's Pro Tip Ask paint suppliers like Sherwin Williams, Cloverdale Paint, and Dulux Paints for suggestions on hiring painters. Provide context on the job size so they can recommend a company suitable for the job. Contractors are usually more competitive with their pricing. Getting estimates for a paint job Before starting the job, a painter should give you an estimate. To provide an estimate, they need to conduct an on-site inspection. Every estimate you get may not look identical, but here are some essential items that the contractor may itemize in the quote: Scope of the project Some estimates may include the square footage or a brief description of which walls will be painted. Quantity of colors and coats The estimate should contain the brand, ounces, or gallons needed to complete the project. Material costs The material costs often combine the paints with the brushes, rollers, tapes, and cloths. Labor costs In addition to painting, prep work could be required, including pressure washing the dirt and debris off the home’s exterior. Typically, business owners may charge between $1,000–$3,000 to paint the interior of a home. Estimated completion of project The contractor may provide a time range of the completion date, which is usually more accurate than an exact date. The start and completion date will give small-time landlords an understanding of how much notice they need to provide tenants or how much time they have before advertising a property to potential tenants. Labor costs are either broken down by hourly rate or by project. Various contributing factors influence the overall cost of the project. The complexity of the home’s structure, such as lofty ceilings, intricate crown molding, and other adornments, can increase costs. The quality of the paint color, the type of paint, and the number of colors can also increase costs. Here are two examples of estimates from painting contractors. Note the difference in details. A Detailed Painting Estimate Previous Next If you want to save money on the project, tell the painter you will do the prep work yourself. Have the contractor walk you through the steps of the prep work they need to get started on the job as soon as they arrive. Once there’s fresh paint on the walls, you will see a refreshed version of the rental almost instantly. FAQ: How to find a painter for your rental property How do I choose a painter? Look at online reviews, ask for recommendations, and shop around for estimates. Suppose the company or contractor doesn’t advertise their business online. In that case, you can get references, review the portfolio, or interview the painter on the steps they will take and what experience they have. Can I save money on hiring a painter? You will likely save more money doing it yourself, but hiring a painter will save you time and guarantee better results. To save the most money, get estimates and ask that the company or contractor itemize each service and material cost to compare costs properly. How can a landlord do the prep work for painters? Ask the painters what they need you to do. The prep work will mainly involve removing rugs, furniture, or any items where the painters will be working. They may ask you to thoroughly clean the walls to ensure a smooth and clean application. Our final thoughts Having an attractive interior or exterior of your rental will help attract trustworthy and long-term tenants. SingleKey provides comprehensive Tenant Reports and information on how to screen tenants. For more information on effective ways to manage your rental property for any event, check out SingleKey’s podcast, FOR RENT. --- ### The Ultimate Preventative Property Maintenance Checklist [The Ultimate Preventative Property Maintenance Checklist](https://www.singlekey.com/en/ownerkey/maintenance/the-ultimate-preventative-property-maintenance-checklist/) Meta: Learn about using a preventative property maintenance checklist to manage a landlord’s rental property responsibilities and avoid hefty repair bills. Date: December 11, 2023 Author: Mark Gregorski Content: Preventative maintenance of your rental property minimizes the risk of costly repairs and long-term damage. It also keeps your tenants safe and satisfied, making it likelier they'll renew their lease. But it can also be unpredictable, tedious, and frustrating. If not done right, rental maintenance can become a nightmare for you and your tenant.In this guide, we'll walk you through which maintenance tasks you need to complete and when. We've also compiled a comprehensive preventative property maintenance checklist that you can download and keep on hand.What to include in your preventative property maintenance checklistWhen it comes to rental maintenance responsibilities, it's easy to overlook things, especially if you're new to being a landlord. That’s where our preventative property maintenance checklist comes in. It's divided into two parts to cover everything you need to keep your property in top shape, including items you could ask your residents to help you manage. Download the landlord’s checklistDownload the tenant's checklist Mac's Pro Tip These checklists can be printed to jot down important maintenance notes. The tenant checklist is also a great piece to share so that your residents are clear on their responsibilities. Your maintenance tasks will vary depending on the type of rental property you own, its age, materials used in its construction, and its overall condition.While knowing what tasks you must perform is essential, effective maintenance also means knowing how often to do them. Some will demand more time and attention than others, so plan ahead and tackle each project accordingly throughout the year.A proven strategy to organize your maintenance duties is to sort tasks based on an as-needed or monthly basis and then by season. For smaller items, it may be appropriate to ask for your tenant’s help.Monthly maintenanceMonthly maintenance is devoted to fixing minor issues to prevent them from worsening. Keep in mind that you can often resolve smaller problems like unclogging a drain without hiring a professional. Remember to bring tools and equipment before visiting the property to ensure you can complete the work. Below are examples of monthly maintenance you should do at your rental:Unclog drainsInspect appliancesInspect and clean dishwasher filterCheck for leaks and water damage (under sinks, windowsills, toilets, hot water tank)Test thermostat batteries (if applicable)Replenish traps for pest controlRepair or replace storm windows and screensTest smoke and carbon monoxide detectorsInspect and fix outdoor lightingInspect walkways, steps, and driveways for safety issues; repair as needed Seasonal maintenanceClassifying maintenance tasks by season is wise, as each season affects your rental property differently. In general, seasonal maintenance is more time-intensive than monthly maintenance. As a result, ensure you carve out enough time to complete the necessary work and prepare your maintenance budget for more spending than usual.During the spring and summer, take advantage of the warm weather to conduct plenty of exterior inspections and repairs. In the fall, begin winterizing your rental while temperatures are still favorable. Pay particular attention to areas that may be vulnerable to the cold and snow and remedy the situation as needed. Finally, for properties in colder climates, minimize repairs during the winter by keeping an eye out on moisture from frost build-up, as well as ice blockages in gutters and downspouts. Here are examples of preventative maintenance items grouped by season: Spring/summer Change air conditioner filter and service air conditioner unitRefresh caulk and grout in the shower, sink, and bathtubFertilize lawnInspect irrigation systemFlush water heaterCheck water fixtures for leaksPrune trees and shrubsInspect and/or repair septic tankInspect caulking or weather stripping around windows and doorsInspect missing or damaged roof shinglesInspect and/or repair garage doorInspect kitchen and bathrooms for leaks and water damageAerate the lawnTouch-up or repaint exteriorInspect attic for moistureInspect and clean gutters and downspoutsTest sump pumpTurn on outdoor water taps and inspect for leaks Fall Inspect chimney and fireplace, perform a WETT inspection (if needed)Seal gaps in windows and doors with caulk or weather strippingCover up bushes and shrubsSeal or stain wooden deck and porchService HVAC unitsDisconnect, drain, and store hoses and winterize sprinkler systemsRepair cracks or uneven surfaces in walkway and drivewayTurn off power to air conditionerCheck for frayed cords and faulty electrical wiringWinterize exterior plumbingInstall pipe insulation to protect plumbing structures (if needed)Empty and store flowerpots Winter Adjust thermostat for winter temperaturesInspect for drafts around external doorsInspect hot water tankCover air-conditioning unitManage moisture from frost build-up around windowsCheck gutters and downspouts for ice blockageInspect and service HVAC Preventative maintenance tasks for your tenantWhile a landlord is responsible for a rental property’s maintenance, tenants bear some responsibility for keeping the premises clean at a minimum. Assign a reasonable portion of maintenance responsibilities to your renter and be upfront about your expectations in your lease terms. Be sure to share this preventative maintenance checklist with your resident to help guide them.Here's a list of tasks that you can ask your tenant to manage:Clean dryer lint trap after each laundry loadYard and landscape maintenance (remove weeds, water plants, rake leaves)Clean floors and carpeting (sweep, vacuum, mop)Tidy and keep common areas clear for fire safety (entryways, hallways, stairwells) Replace burnt-out light bulbs Dispose of garbage and clean recycling binsCheck for leaks and water damage (under sinks, windowsills, toilets, hot water tank)The importance of preventative rental maintenance for landlordsKeeping your property in good condition will ensure your rental business thrives. Here’s how:Stay compliant with local, state, and federal lawsRental maintenance isn't simply a set of chores: it's required by law. As a landlord, it's your legal responsibility to ensure your unit is safe and habitable for your residents. That means having sufficient heat, water, electricity, weatherproofing, and sanitary living conditions. There are also minimum standards for electrical work, smoke detectors, and ventilation to prevent hazards.If your rental is in a state of disrepair, it can draw the attention of your local housing authority. In that case, you may get hit with a fine, lawsuit, or have your permits revoked.Foster a positive relationship with your tenantsIf you don't address critical repairs promptly, you risk losing your tenant. They'll opt to move elsewhere instead of putting up with a rental unit that is slowly falling apart.In extreme cases, your tenant may pursue legal action against you, which means you could end up fighting a lengthy and costly civil or criminal case in court. To gain your tenant’s trust, confidence, and cooperation, strive to fix all maintenance issues in a reasonable time frame, especially if it negatively impacts their quality of life.In fact, many states have laws that stipulate a minimum amount of time you have to deal with emergency repairs. For example, depending on your rental location, you may have three to seven days to fix a broken furnace during cold weather.Preserve your property’s condition and valueFailing to carry out routine maintenance can quickly impact you financially, as costly repairs will drive up your expenses. Legal battles with the local housing authority and tenants can also take their financial toll, as can insurance deductibles, should you need to file an insurance claim following an incident that causes severe damage.The consequences are clear: if you neglect your rental's maintenance duties, its condition will deteriorate over time, along with its value.Keep your rental marketableIf your rental's condition isn't up to par, fewer tenants will be willing to sign a lease with you. Extended vacancies will become the norm, and the lost rent will slowly chip away at your income. On the other hand, by keeping your rental in good order and attending to maintenance requests promptly, tenants will be more than happy to renew their lease.Our final thoughtsMaintaining a rental can be overwhelming and confusing for the uninitiated. Before any minor issues lead to hefty repair bills and a sour relationship with your tenant, use a preventative property maintenance checklist. You'll know exactly what areas to pay attention to and when to schedule any related work. You may still need outside help occasionally, despite your best efforts to keep your property in solid condition. Learn more about how to manage rental property maintenance issues and how to hire professionals like an electrician, furnace repair person, and a roofing contractor. --- ### How Landlords Can Interview Furnace Repair Companies [How Landlords Can Interview Furnace Repair Companies](https://www.singlekey.com/en/ownerkey/maintenance/how-landlords-can-interview-furnace-repair-companies/) Meta: Finding an ethical heating professional with availability can be tricky. Landlords should research small and big companies to have someone on standby. Date: December 9, 2023 Author: SingleKey Content: When the heat fails your tenants in the dead of winter, it's good to have a primary HVAC technician and a few backup technicians you can rely on. It’s the landlord's responsibility to provide suitable living conditions for your renters. Learn how to find a certified professional to repair your furnace and what qualifications to look for. Who to call for a broken furnace? Contact an HVAC (heating, ventilation, and air conditioning) contractor to schedule furnace inspections, repairs, and replacements. Any time you're having issues with the AC or heating, an HVAC technician will have the proper training and qualifications to make repairs. An HVACR specializes in heating and air conditioning, as well as refrigeration. In most states in the U.S., you must be licensed as an HVAC technician. Similarly in Ontario, the HVAC trade is regulated, meaning technicians must complete a minimum of hours of training to be certified. Most Canadian provinces require training. To learn more about what an HVAC specialist can do, read our article about hiring an HVAC contractor [link to once published] and keeping up with cooling and heating annual maintenance. How to find potential contractors Always ask for recommendations from trusted sources, whether you ask your neighbors close to the rental or search Google for qualified technicians specializing in heating systems and furnace repairs in your area. Reading online reviews can be very telling. If you’re concerned about accidents or property damage during repairs, ask the contractor if they have insurance requirements, such as liability insurance. Most HVAC technicians and contractors who repair air conditioning units and furnaces also perform routine maintenance. The goal for most landlords is to find the most trustworthy technician offering the lowest price. Interviewing a reputable contractor SingleKey's Director of Customer Engagement, MacKenzie Wilson is also a landlord and host of the FOR RENT podcast. In an episode earlier this year, he recounts his experience when a landlord texted him on New Year's Eve, reporting he had no heat. MacKenzie was three hours away from the rental. During the first service call, a more prominent commercial repair company visited the property and diagnosed the issue within 15 minutes. They concluded that something was wrong with the heat exchanger, and MacKenzie would need to replace the furnace at the hefty price of $7,440, plus the goods and service tax of $1,500. The job included cutting a new exhaust pipe and routing it outside to the furnace. However, the estimate did not include repairing the gaping holes in the drywall or any other cosmetic fixes once the installation was complete. The second company MacKenzie contacted offered him a free consultation and suggested a furnace replacement for $800 less than the original quote. As he grappled with spending more than $8,000 on the replacement, MacKenzie posted a question in a Facebook group called Alberta Landlord Community, which provided customer reviews and gave him a bit more peace of mind. MacKenzie received valuable feedback and price ranges that gave him insight into reasonable costs. In addition to learning that economy brands are easier to replace, he also found out that older furnace patents are more widely accessible, and therefore, more affordable. In the end, MacKenzie ended up going with a smaller contractor who quoted him $400 to service the furnace––a significant drop in costs from the previous quotes. Here are some of MacKenzie's takeaways: Even when you suspect what the issue may be, allow the contractor to do their own problem-solving. Look for a basic model that offers energy efficiency and is easier to repair and replace. High-efficiency furnaces tend not to expel as much heat as low-efficiency furnaces, so when temperatures are low, ice freezes over the vents. Energy-efficient furnaces can cause the ice to freeze the pipes. For more on MacKenzie's furnace replacement experience, explore the full podcast episode below. How to review quotes from furnace repair companies Another thing to look out for when collecting estimates is to obtain a hard copy of a quote. Observe how much information is outlined in the estimate. Here is an example of a good quote versus a quote that's lacking detailed information: Previous Next Advantages of hiring big and small furnace repair companies When you're working with a bigger commercial company, chances are the contractors are earning a base salary plus a commission, which could provide them with more motivation to upsell the customer. Commercial companies may also have contracts or handshake deals with specific manufacturers, which could hike the prices of parts needed for installation and repairs. This doesn't necessarily mean you won't find ethical contractors who work for more prominent companies, but it's always a good idea to request a quote from a smaller company to compare costs and services. Smaller companies typically only pay their contractors hourly, so there is no incentive to persuade the customer to replace a furnace rather than service it. Ideally, you want a high-reparability solution where you don't have to pay more for a replacement. The advantages of a bigger company are that you will get experienced contractors, and they will likely have more availability to work with you during peak holiday seasons. On the other hand, one trade person typically operates a smaller company with less availability. FAQ: How to find furnace repair companies How can you find an HVAC technician? Search for technicians who are certified, licensed, and insured. Read online business reviews. Contact them for a consultation if the positive reviews outweigh the bad business reviews. A reputable company can be found online, through Facebook groups, or by word of mouth. Some service companies act as AC repair companies and work as heating contractors. What is the most common reason for furnace repair and furnace replacement? If the thermostat goes bad or if there are any faulty heating elements, this usually means that the furnace needs repairs. Look for uneven heating or, of course, a complete lack of heating. When an old furnace starts emitting pollutants and comprising the air quality, you may need a replacement. Can a tenant report furnace problems during the holidays? Yes! A landlord should quickly address any heating complaints, especially if the weather is freezing. The landlord must maintain habitable conditions and avoid imposing on the tenant in their rental property as much as possible. That’s why having a repair person for all emergencies will help reduce scrambling when an emergency happens. Learn how to screen tenants like a pro. Finding a tenant who alerts you ahead of time of potential appliance problems could save you money. Our final thoughts SingleKey offers the best tenant screening services by providing a comprehensive Tenant Report that verifies the prospective tenant's income, employment, and previous addresses. You'll also gain access to a potential tenant's credit report and learn how financially reliable and trustworthy they are. --- ### How to Manage the Rental Property Lawn [How to Manage the Rental Property Lawn](https://www.singlekey.com/en/ownerkey/maintenance/how-to-manage-the-rental-property-lawn/) Meta: Many maintenance tasks fall on the landlord. Tenants, however, are often willing to mow the lawn. Landlords should be clear about their expectations of lawn care. Date: December 5, 2023 Author: SingleKey Content: After becoming a landlord, you must consider every detail of the rental, including the upkeep of your outdoor spaces. One of the main monthly upkeep tasks is lawn maintenance throughout the spring and summer months. During winter, the landlord has to figure out who will be responsible for snow removal. Learn how to find reasonable and reliable full-service lawn care and decide who should be accountable for preserving your rental's curb appeal––the landlord or the tenant. What are the main lawn care responsibilities? The primary lawn care responsibilities are mowing the lawn and assigning the job of removing snow during the winter. Beyond just lawn mowing, additional aspects of lawn care include: Hedging Weeding Tree trimming Lawn fertilizing Raking leaves Watering plants As a property owner, you’ve probably poured money into a beautiful outdoor space, so you may be willing to pay for the additional expenses of extra landscaping services. When your rental is a residential home that only requires the minimum upkeep, you can opt to ask your potential tenant if they are willing and capable of regular mowing. Who is responsible for lawn service? When you request that the tenant be responsible for lawn maintenance, outline their responsibilities in the rental agreement. If it's convenient for the tenant and they are able to mow the lawn, that would help save on expenses and alleviate extra landlord responsibilities. This information in the lease agreement will communicate everyone's responsibilities. Set your expectations in the lease terms before the tenant moves into the rental. Hiring a professional service is recommended if you own or manage a multi-unit place. Here are some additional yard maintenance responsibilities you can include in the lease terms: Picking up after dogs: It is acceptable to ask tenants to routinely clean up after their dogs. Consider hiring a company to visit a multi-unit weekly or when needed. There are many services located throughout Canada and the U.S. that will clean up after your dog. In Calgary, consider hiring a weekly yard service for scoop and removal. A company based in Orange County is licensed and will keep the yard tidy with its pet waste removal services. With multiple units, hiring a weekly service to clean up after dogs and hiring biweekly lawn care professionals will keep your tenants' yards tidy so they can feel proud of where they live. Snow removal services: If your tenant volunteers to remove snow and is reliable, assign them that responsibility and include those terms in writing in the lease agreement. For multi-units or sizable properties, you can hire a service that will remove snow from the driveways, sidewalks, and front walkways during heavy continuous snowfalls or within 24 hours after the first snowfall. Deciding who will be responsible for seasonal tasks, like snow removal, should ideally be resolved before the tenants move into the rental. Getting lawn care service quotes According to the home advice website Bob Vila, a homeowner can pay a professional lawn care service between $48 and $206, depending on the area that needs service. Many landlords won't hesitate to hire a service because it's one less thing they have to worry about, and it guarantees that the property will always have an attractive lawn. On the other hand, some tenants are more than willing to maintain the landscaping and have their own yard care tools. If your tenants consent to maintain the lawn, you can offer tools, like a rake, shovel, and lawn mower, as a courtesy. If you choose to go with a lawn care service, ask for monthly estimates. Below are examples of estimates for mowing and lawn maintenance. The first estimate describes the services, when the landlord can expect the lawn care workers, how much the weekly service costs, and how much the total monthly cost will be. The second estimate lists the total cost, but it doesn’t have enough details about the service compared to the first estimate. Having detailed estimates and receipts will reduce the work for the landlord by keeping all of the information organized. Previous Next Landscaping and lawn maintenance are distinctly different. If your tenant is interested in changing the design of your exterior space, make sure you review the plan and approve it. Learn the difference between hiring professional landscaping crews versus hiring a full-service lawn maintenance person. FAQ: How to manage the rental property lawn How do you manage lawn care for a lot of rental properties? Get ahead of the maintenance responsibilities. For the most part, you should know what expenses you can cover using funds from the rental income. Develop a maintenance calendar, and before you approve a tenant, recruit the help of a tenant screening service. Are tenants responsible for tree trimming? Trimming trees and hedges counts as additional landscaping maintenance. It would be ideal if your tenant volunteered to do these duties, especially if they do a fine job. However, a tenant is typically not responsible for trimming. Are tenants or landlords responsible for mowing the lawn? When managing multiple units, the landlord usually hires a professional service for mowing the lawn. If you can easily persuade your tenant to mow the lawn on a residential property, that will save you maintenance costs. These terms should ideally be established before the tenant moves in. Our final thoughts Placing a trustworthy tenant in your rental property can save you money and alleviate any concerns that the tenant won't properly maintain your rental. SingleKey provides landlords with a comprehensive Tenant Report to guarantee you rent to a reliable tenant. --- ### Finding an Electrician for Your Rental [Finding an Electrician for Your Rental](https://www.singlekey.com/en/ownerkey/maintenance/finding-an-electrician-for-your-rental/) Meta: If you're managing a residential property or multi-unit building, having a list of qualified electricians should be a top priority. Date: December 5, 2023 Author: SingleKey Content: There are a variety of reasons why a property owner would need an electrician, whether it's because the rental unit has a faulty fuse, a fixture needs to be rewired, or you want to add a new outlet. Discover how to find and interview a professional electrician and how to determine a good, detailed quote from a vague one in this guide. Why hiring a licensed electrician is essential Proper electrical installation is essential for keeping your home safe. According to the Electrical Safety Foundation, an estimated 51,000 fires yearly are caused by faulty electrical wiring. To ensure electrical safety, learn how to manage current or future issues and hire a competent electrician. How to find a qualified electrician Virtually all electricians require a license to practice their trade in the U.S. and Canada. Licensing requirements vary from province to province in Canada, and each state in the U.S. has different qualifications that an electrician must meet. For an overview of licensing requirements for electrical repair in each Canadian province, visit the Canadian Electrical Contractors Association (CECA). If you're looking for a professional electrician, begin with a Google search for electricians in your area. Always read company and contractor reviews and confirm they are licensed with the state or province where your rental is based. Check the Better Business Bureau (BBB) for information on how many years in business the licensed contractor has or if the company has any licensing information. Conducting electrical inspections at the rental properties Before an electrician can provide you with an estimate, they should do an on-site inspection, which can cost between $100 and $200. Here are some reasons why an electrician may charge more for the initial inspection: You are working with a master electrician who charges more than journey-level experience. The inspection is during peak holiday hours or is a weekend emergency. An electrical inspection provides insight into the source of the problem and will ensure the wiring is safe in the home. Reviewing quotes and cost of repairs Your home's functionality relies on electricity unless you're using alternative energy. Many states in the U.S. mandate that homes are connected to an electricity grid. There are various reasons why you would need to hire a certified electrician. Here are examples of standard electrical work you may need for your rental properties: Electrical wiring Installing light fixtures Upgrading electrical panels Installing a generator Fixing malfunctioning light fixtures Outlet and switch/socket installation Smart home installation Installing ceiling and attic fans Replacing an electrical breaker Electricians' costs are based on your needs and the job's complexity. For instance, if your home is over 40 years old or the electrical has deteriorated quickly, becoming a fire hazard, you may need an electrical rewiring. Depending on the square footage, rewiring a home can cost between $10,000 and $30,000. Ask for a detailed estimate when you are interviewing independent contractors. The quotes should include labor costs, material costs, and a project breakdown. The electrician should also inform you of the project's estimated start and end date. Often, an electrician must cut through the drywall if they add a new outlet or run new electrical wire. This is a labor cost that should appear in the quote. Drywall damage is a separate repair cost that the landlord or a drywall contractor must repair. A drywall repair is an additional expense, typically outside the electrician's scope. If you are a homeowner also acting as a property manager, it's your job to ensure your tenants are safe and live in habitable conditions. Consider all expenses before renting to guarantee that your rental income can cover repair costs. When reviewing a quote, the rates will be defined differently depending on the scale of the project and what you come to an agreement on with the electrician. The quote should read like an itemized receipt, whether the electrician charges an hourly rate, a daily rate, or a project rate. A warranty is standard when you are purchasing electrical products. Here is an example of a good quote and another quote that needs more description. Previous Next FAQ: Hiring an electrician How do I find a qualified local electrician? Check with your local or national home builders association for a journey-level electrician or master electrician. You can also search Google for contractors in your area. Once you locate an independent contractor or company, read reviews and verify that they are licensed. How do you ask an electrician for a quote? After the electrician conducts an inspection, you can ask them if they have experience with the particular project needed, how long they anticipate the project’s completion will take, when they can get started, and if they can provide a detailed quote. When should a landlord hire an electrician? Hiring a professional is always best to ensure your tenants and home are safe. You would need an electrician for various reasons, including electrical wiring, relocation of outlets or panels, or the installation of light fixtures or new outlets. Our final thoughts If there's something in question regarding your home's electricity, always have your tenant notify you. Unless your tenant is a licensed electrician, ask them to refrain from adding outlets or doing more complex electrical repairs themselves. Ideally, you'll want to interview electricians before your tenant moves into the rental in case an emergency arises during the weekends or holidays. With a trustworthy tenant, you can know that your home is being cared for properly. Learn how to vet tenants with SingleKey's Tenant Report, where you'll get untampered results from income verification, credit reports, and background checks within minutes. --- ### Rental Repairs and Maintenance: What is a Landlord Responsible For? [Rental Repairs and Maintenance: What is a Landlord Responsible For?](https://www.singlekey.com/en/ownerkey/maintenance/are-tenants-or-landlords-responsible-for-seasonal-maintenance/) Date: December 4, 2023 Author: Mark Gregorski Content: As a landlord, you may have some questions about how to approach the upkeep of your rental. What repairs and maintenance issues are you responsible for? How quickly do you need to resolve them? Can you delegate some tasks to your tenant, and if so, which ones? Is your tenant ever financially liable for any repair work, or do you bear all the costs? To help you navigate this sometimes murky area of rental property management, we’ve compiled a list of guidelines to help you make the right decision when something needs fixing. What are a landlord’s legal responsibilities for repairs? Keeping your rental property in top shape isn't only a wise business investment: it's a legal requirement. Ensure you become familiar with your region's residential tenancy laws. Aside from local laws, your lease agreement will contain specific details about your role (and that of your tenant’s) regarding repairs and maintenance. Residential tenancy laws Legal obligations related to rental property repairs and maintenance vary by region. While they can sometimes be vague, most laws hold landlords accountable for a majority of the repairs and maintenance in a rental property For example, in Alberta, The Residential Tenancy Act (RTA) requires landlords to meet the Minimum Housing and Health Standards under the province's Public Health Act. Among other things, the landlord must keep the property in "good repair, safe condition, and structurally sound" and ensure essential utilities are provided, such as heat, water, and electricity. In the U.S., regulations vary a great deal. For example, in California, residential tenancy laws under Civil Code section 1941 specify that the landlord must conduct any repairs that make the property unhabitable, except for problems caused by the tenant or their pet and guests.  Outlining maintenance responsibilities in a lease agreement In case of a dispute over a maintenance issue, the lease should provide a clear answer on who is responsible. Therefore, a more comprehensive and detailed lease will enable you to address gray areas. Remember that a lease agreement is a legal contract, so it's enforceable. Both you and your tenant should clearly understand your rights and responsibilities before signing it. Before allocating repairs and maintenance duties in your lease agreement, review the requirements of your region's residential tenancy laws. Avoid assigning to your tenant tasks for which you, as the landlord, are legally responsible. What is a landlord responsible for repairing? As a landlord, you're accountable for rental repairs arising from general wear and tear. Here's a list of your responsibilities. Heat, water, and electricity. These essential utilities must function correctly and be free of hazards. Your residents should have access to cold and hot water, adequate heat during the winter, and a reliable electrical system. Structural integrity and weatherproofing. To be considered habitable and safe for tenants, your rental must be structurally sound and provide adequate shelter from the elements. This means you should perform regular maintenance on any related components, including the roof, windows, doors, siding, walls, ceilings, stairs, and floors. Thermostat adjustments. Make sure to set the temperature in your rental property at a comfortable level for your renters. The living space should supply a reasonable amount of heat, especially during winter. Tenants may occasionally ask that you adjust the settings, so be prepared to accommodate reasonable requests. Of course, you're also responsible for ensuring the thermostat and heating system function properly at all times.   Safety and security systems. Test all locks on doors and windows to ensure they're operable. Be sure to change the door locks each time a new tenant arrives. All emergency exits should be clear of debris to allow for an easy escape route, storage areas should be free of combustible materials, and smoke and carbon monoxide detectors should always be in working order. Appliances. It’s your responsibility to oversee all major appliance repairs and replacements. At a minimum, ensure that the fridge and stove are always in good working order. Maintain the microwave, dishwasher, washer, and dryer if they're part of the lease agreement. Mold and mildew. Any mold or mildew issues must be resolved by the landlord, provided it appears due to excessive humidity, water damage, or another issue related to your maintenance duties. Mold can adversely affect tenants' health and be expensive to eliminate if allowed to spread, so ensure you deal with it promptly. Pest control. Pests can cause significant damage to your property and produce unsanitary living conditions. Some also carry diseases, posing a health hazard to tenants. If you discover an infestation, eliminate it as quickly as possible (it's best to hire a professional exterminator). Take preventative measures to deter pests from invading your rental, such as sealing cracks in walls and replacing broken shingles.  Mac's Pro Tip Ensure your rental maintenance work complies with local building codes, fire codes, zoning laws, and health and safety standards. If it doesn’t, make the necessary improvements to avoid getting hit with a fine or a lawsuit. What is a tenant responsible for repairing? While most repairs and maintenance rests with you as the landlord, tenants also have a role to play. Here are some tasks a renter would be responsible for undertaking. General cleanliness. Tenants must keep the living space reasonably clean and tidy by washing their dishes, emptying the dryer lint trap, vacuuming the floors, and dusting the furniture. To prevent the occurrence of pests and mold, they should also regularly remove trash from the property.  Damage caused by the tenant. If the tenant causes damage to your property, either willfully or through negligence, they're likely financially responsible for the repairs. An example would be if your tenant repeatedly poured grease down the kitchen sink, causing it to become plugged. Similarly, your renter is liable for any deterioration resulting from a lease violation. An example is if they smoke on the property, leaving stains on the walls and floors. Small repairs. Tenants can assume responsibility for simple and cheap repair work, provided they agree to do so per the lease agreement's terms. Some tasks you can safely assign to your tenant include: Changing light bulbs Replacing batteries in keyless locks Cleaning minor carpet stains Fixing loose cabinet handles Washing window interiors  Outdoor maintenance. Just as the inside of a rental home must be cleaned, tenants may help maintain the outside as well. Some examples of exterior maintenance include raking leaves, shoveling snow, and clearing weeds. Informing the landlord of necessary repairs. Your tenant must notify you of any maintenance issues as soon as possible. You can make this process smoother by establishing a straightforward method for requesting repairs and responding to their requests promptly. Mac's Pro Tip If the cost of the repair is $20 or less, the tenant should be accountable for it. Still, occasionally conducting minor maintenance tasks personally, such as replacing the furnace filter, can be beneficial. You can use the opportunity to visit your rental and assess its condition. Deciding how quickly something needs to be fixed We've already established that it's your job to address most maintenance issues. But how fast do you have to resolve them? Here are the three factors to consider when deciding the urgency of a repair: 1. Is it an emergency? Emergency repairs are those that threaten your tenant's health and safety or negatively impact one or more of their essential needs (e.g., heat, water, air quality, hygiene, etc.). Any issue that puts the entire building at risk is also considered an emergency. Generally, you should respond to emergency issues in 24 hours or less. Some jurisdictions have laws stipulating how long you have to fix a maintenance issue at your rental property. You usually have between two and seven days to resolve critical repairs and 30 days to deal with general, non-urgent problems. Be sure to get acquainted with the laws in your region to ensure that you're completing all repairs on time. 2. Is there a backup? Before rushing to fix a problem, consider if the issue would make the rental property uninhabitable.  For example, let's say the lone toilet in your rental gets clogged up. Naturally, this issue would pose a significant inconvenience for your renter, so it's best to resolve it immediately. However, if the home contains three toilets, the negative impact is far less severe since the residents still have access to the other two. In this case, postponing the repair is acceptable to save time and keep your maintenance costs down. 3. Does the issue directly affect the building? Not all rental maintenance issues will adversely impact your tenant's living conditions, at least not immediately. However, they may pose a danger to the entire building, and if not dealt with promptly, may lead to extensive damage. For this reason, tackle them as soon as possible. For example, let's say your rental has one or more leaky gutters. Over time, this could cause damage to the roof, attic, siding, foundation, and basement. The resulting repairs can cost you a bundle compared to replacing the gutters, which would prevent this scenario from occurring in the first place. Mac's Pro Tip Let your tenants know how long they can expect to wait for you to fix maintenance issues. Help educate them about reasonable time frames for emergency and non-emergency repairs. If in doubt, put yourself in the renter’s shoes and try to understand their expectations for repair timeframes. Our final thoughts As a landlord, you bear most of the responsibility for repairs and maintenance in your rental. To understand your obligations, familiarize yourself with your region's rental property maintenance laws. Then, outline these responsibilities clearly in your lease agreement. Be sure to allow your tenant to ask questions and propose changes if they feel uncomfortable about taking on specific tasks. Learn more about how to manage maintenance and repairs, including establishing a rental property maintenance schedule and troubleshooting any issues.  --- ### Hiring a Landscaper for Your Rental Property [Hiring a Landscaper for Your Rental Property](https://www.singlekey.com/en/ownerkey/maintenance/hiring-a-landscaper-for-your-rental-property/) Meta: Landlords can appeal to tenants willing to pay higher rent prices when the rental has a beautiful exterior space. Good landscaping can add value to your home. Date: December 3, 2023 Author: SingleKey Content: Hiring a landscape contractor means you’ll get professional consultation, design, and installation services, including hardscape building. Learn how landscaping differs from lawn maintenance and how a stunning exterior can attract quality tenants.Why hiring a landscape contractor can help attract good tenantsThe home and landscape are interconnected. A beautifully designed outdoor space will elevate the curb appeal of your investment property and appeal to quality tenants. Hiring a landscape professional to spruce up your home's exterior can transform the look of your home and guarantee a good first impression for anyone visiting.Many first-time landlords looking to charge higher rents search for ways to improve their homes with a budget-friendly design. When your home's exterior lacks landscape design, it risks not being as memorable. Landlords can add value to their home or apartment building by enlisting the help of professional contractors for an affordable design. A landscape architect can design sustainablySpeak to a reputable landscaper with experience in offering sustainable solutions to your outdoor space. They will consult you on choosing native plants. If you live in a Mediterranean climate, such as southern California, opt for drought-tolerant plants. A water-smart landscape can include bougainvillea and succulents. This will save expenses on your water bill and make your lawn more environmentally conscious. If your rental property is in Canada, you’ll want to source native plants local to your area for your next landscaping project and learn sustainable practices with ecological design.If you live in humid subtropical regions, you can design with palms, bromeliads, and ferns. While these plants may do well in Florida, they wouldn't survive under the unforgiving dry heat in southern California. Choosing a budget-friendly landscape projectA landscaping job can be expensive. Looking for low-maintenance plants and practical design plans when you're on a budget is essential. With a low-maintenance yard, you can avoid hiring routine lawn maintenance. Lawn care companies can add additional monthly costs to your fixed expenses.There is a distinction between professional landscapers and lawn maintenance providers. A landscaper plans and completes the architectural design of your outdoor space, while lawn care providers keeps up with mowing, hedging, and other maintenance tasks. Lawn care workers will also clean gutters for seasonal maintenance. Look for opportunities to recycle landscaping materials to save costs. Search online for free reclaimed brick, and stop at your local hardware store for discarded crates to use in your garden. There are many cost-efficient ways to refresh your garden by repurposing old furniture, brick, or wood and getting a little resourceful.Many regions offer free mulch, which is ideal for conserving water. Consult a professional or search online for an easy-to-maintain landscaping plan to shave off costs.How to review quotes from different landscape designersThe time has come for you to vet different contractors. After they assess your home, they should provide a landscape quote. Here are a few key things to look for:Costs must be broken out individually: The quote should look like an itemized receipt. Everything on your quote should clearly outline the labor, material cost, and estimated timeline. You should receive one detailed quote.The costs listed are not defined: This may not always be a red flag that a company has shady intentions. However, you should always ask the contractor to list the costs and labor and ask specific questions to help you make an informed decision while shopping around for contractors.Pay attention to the square footage: Does the square footage listed in the estimate match your property records? Does the contractor plan to work on all or just a portion of the outdoor area?Here is an example of a quote that includes all of the relevant information and another quote that lacks details in how the costs are broken down: Previous Next FAQ: Hiring a landscaper for your rental What is the definition of a landscaper? A landscape architect will conduct a site analysis and inventory of your outdoor space. They create the landscape design.  What questions should I ask a landscape designer? Speak to a company or contractor who offers free consultations. Ask them if they are experienced in the services you need and if they can complete the project within your timeframe and budget. You can read online reviews and look at their landscaping portfolio to get an idea of their process and see their work. If the landscaping service has any negative reviews, this is a red flag.  How to prepare for a landscaping interview? It’s important to vet all the landscaping professionals you speak to. Ensure they have a wide range of experience in exterior design and installation and are knowledgeable about native plants. If you live in the U.S., look up the potential contractor’s license. Here are questions you can ask: How long have you been in business?Are you fully insured? Will you obtain all permits for the project?Do you provide a drawing of your plans ahead of time for approval?Will you offer care instructions?Do you offer a variety of services for residential properties? Will you provide a detailed quote? Can your company design for flood risks? Our final thoughtsRevamping your home and exterior space will help attract renters who can pay higher rents. A tenant screening service like SingleKey's will help you confirm a prospective renter’s identity, verify their income sources, and provide a detailed report on their credit history. --- ### How to: Set Up Rent Collection [How to: Set Up Rent Collection](https://www.singlekey.com/en/rent-collection/how-to-set-up-rent-collection/) Date: November 28, 2023 Author: SingleKey Content: https://www.youtube.com/watch?v=oQt6S7aoKFM&t=1s Preparing to Sign Up Before you sign up, have ready: Your bank account details for deposits, Basic tenant information, including name and email address, and Agreed-upon monthly rent Step 1: Select your Tenant If you’ve run a SingleKey Tenant Credit Report, click on Choose an Existing Tenant and select the correct tenant from the menu. For tenants not on our list, enter the required information so we may contact them directly. We will immediately send out an email requesting the tenant’s permission to collect rent. A question we often receive is whether we can set up multiple tenants on the same lease. At this point in time, we only offer the ability to collect rent from one tenant per lease. It is best practice to only have one person on the lease responsible for paying rent in full. Step 2: Select the Property If you have already entered your property information, click Choose an Existing Property and select an address from the list that appears. Alternatively, you can Add a New Property to your list by typing in the address and selecting from the drop-down menu that appears. Remember to add the property type and unit number. Step 3: Provide Monthly Rent Information To make the payment, we need to know how much rent to collect from the tenant and when. Enter the Monthly Rental Amount in the first textbox. Be sure to exclude any ad hoc, or one-time fees you and your tenant agreed to. Next, we need to know when to collect from the tenant. The Monthly Payment Date is the date the rent is owed. This can be the 1st or 21st of the month. The rent will be deposited in your account within 1-2 business days. The rent amount entered will be automatically withdrawn from your tenant’s bank account on the date you select and deposited directly into your bank account. You will receive an e-mail when the payment is complete. Step 4: Identify the Collection Period The next step is to set up the first and last date of rent collection. Select the first month to begin collecting rent. Remember to exclude any months for which a deposit was already collected. The dates entered can differ from the duration of your rental agreement. For instance, if you are mid-lease you can set the start date to the next month for which rent is due. You can collect payments from your tenant as long as they continue to live in your unit. Automated rent collection will continue until you log in and modify the service. You may also select the month in which to stop collecting rent from your tenant if you are certain they will move out by a specified date. You may cancel rent collection services at any time by logging into your account. In case you get busy, we will also follow up with you in a few months to check on your lease. Step 5: Provide Banking Information Whether you choose to link your bank account or provide checking account information, we can still help you collect your rent! Click “Link my Bank Account” to follow the linking process. Alternatively, you can enter your banking information. Using your online bank account, you’ll find your account number details on the “My Accounts” screen. The first five digits are the transit number and the last 7 digits are the account number. If you are set up to receive eStatements, you’ll find your account number at the top of each statement. If you have a copy of a void cheque handy, you can input the transit number, institution number, and account number by using the following reference photo: We also require you to upload a scanned copy of the voided check, or a direct deposit slip to support our records verifications process. Step 6: Verify your Identity To comply with Canadian payment regulations, we are required to verify the identity of our users to prevent any fraudulent activities. Final Step: Watch for your Rental Payments Within five minutes, you were able to do away with visits to the bank, calls to tenants requesting new checks, and misplacing that Ziploc bag! We also hope this has made the journey easier for your tenants and gets your relationship off to a smooth start! Don’t hesitate to get in touch with SingleKey. Give us a call at 1-877-978-1404 or email us at info@singlekey.com. You may also fill out the form on our Contact Us page! --- ### How Landlords Can Choose a Roofing Contractor [How Landlords Can Choose a Roofing Contractor](https://www.singlekey.com/en/ownerkey/maintenance/how-landlords-can-choose-a-roofing-contractor/) Meta: When selecting a roofing contractor for installation or repairs, get multiple estimates and read reviews. Date: November 23, 2023 Author: SingleKey Content: A damaged, sagging, and worn roof could signal to potential tenants that other parts of the home may be in disrepair.The maintenance of your roof should be at the top of every landlord's list. Over the years, a run-down, leaky, and neglected roof can cause poor ventilation and water damage, leading to other structural damage to your property.Working with professional roofersSevere and freezing weather conditions can be punishing on a roof. Over time, your roof shingles can begin to crack and break. Roofing professionals will inspect the gutters, seals, grout, and chimneys. They will also examine the ceilings inside your home and attic.If there are any signs of decay or water damage, a roofer will advise you on whether or not you need a new roof. If you notice chipped or broken shingles, water stains, or leaks coming from your ceiling, it's a sign that you need to hire a roofer to conduct an inspection. Scheduling regular inspections is ideal, especially if you live in northern climates where your roof may be prone to ice dams. Learn about proper maintenance in preventing ice dams during winter months.What type of roofing materials are there?Various roofing materials range from affordable, low maintenance, durable, and recyclable.Asphalt shinglesAsphalt shingle roofing is the most common type in Canada and the United States. It's affordable, recyclable, durable, and compatible with most weather conditions. The disadvantages are that it has a shorter life span and the color will fade under the sun.Slate roofingSlate materials are built from natural stone. Some pros of long-lasting slate roofing are its curb appeal, durability, fire resistance, and environmentally safe inherent qualities. The downside of slate is it can be slippery to walk on, costly, and require special installation.Metal roofingMetal roofing is less common but has been available for ages. It ages well, is low-maintenance, recyclable, and is energy efficient. Unfortunately, they can be double the amount of asphalt shingles or more. During heavy rainfall, they produce more noise if the attic isn’t sufficiently insulated or sound abated.Clay roofingClay roofs offer a beautiful visual appeal. Roofs made of clay are standard in dry climates like California. One of the most significant benefits of clay roofing is that if installed properly, it can last for 100 years. Property owners can expect to pay significantly more for this type of roofing project than asphalt shingles.Reviewing a professional roofing contractor's quoteGenerally, homeowners have two options when looking for roofing services: work with reputable roofing companies or independent contractors.The contractor or company should provide you with a quote, which should resemble a breakdown of services, labor, and materials, including quantity. There should also be a separate protection plan or roof warranty. Every quote will likely have a different design layout, but if you have a detailed description of services, how many hours of labor is estimated, and pricing, including the square footage of material to be used and the price per board or item, that should be a sufficient estimate.Here is a good example of a detailed roofer quote versus an estimate that lacks crucial information: A Good Roofing Estimate A Roofing Estimate Lacking in Detail Previous Next Some common open-ended questions that you can ask the roof contractor include: What’s your lead time?What else should I know if there’s a repair?How does the repair work?What are the timelines/steps for the repair or maintenance?Budgeting for a roofing jobIf a ceiling or roof is leaking or sagging, here are some key considerations for budgeting a repair:Get multiple quotes to give you the ballpark pricing.Understand the element of uncertainty. Occasionally, underlying structural damage can present itself during the teardown, which may add costs to the budget.Typically, the price will be higher if there is more area to cover and you choose a more expensive material.What to look for in an experienced roofing contractorIf you choose to work with a contractor, make sure they have a contractor's state license. For example, a licensed roofing contractor in California needs to be adept at all roofing installations and repairs. Contractors can waterproof and weatherproof.To find a roofing company, check for references or with your state roofing association. Alberta has the Alberta Roofing Contractors Association.Each U.S. state should have a roofing company association. Texas has a construction industry association where you can search for a licensed contractor. Most online contractor associations will include the year the contractor registered or when the company was founded to give you an idea of how long they have been in business. Review the contractor's qualifications, certifications, and licenses. Are they capable of preparing the following surfaces and materials:AsphaltumTarGlass fabricUrethane foamMetal roofing systemsShakesShinglesRoof tileWhat do their Google business reviews say about them? Do they provide quality work and a good response time? Make sure to review their social media pages and check to see if they are a reputable roofing contractor and are registered with the Better Business Bureau. Working with tenants during roofing projectsWhile it may be a minor inconvenience to your tenant to coordinate a time for an inspection, your tenant will likely be pleased that you are maintaining the home. Before you send a contractor to the rental to inspect for roof leaks or damage, give the resident written notice in advance.Always inform them of the project's duration. Clearly communicating roof repairs or regular maintenance with your tenants will build trust. Every landlord will have to learn to maintain a regular maintenance schedule and alert tenants every time they plan on visiting the rental property for inspections. FAQ: Working with a roofer How do I choose a roofer? Choosing an experienced roofer with good reviews is essential. The best way to find a reputable roofer is through recommendations from a trusted source or the local online contractor association. Always read Google Business reviews to ensure the roofer is professional, capable, and completes the project on time. How do I budget for a roofing project? Typically, the roofer will give you an estimate that prices the project by the square footage of the area where the installation or repair will occur and the type of material needed. The property owner should always shop around for estimates and tell the roofer about the best and most economical material for the region’s weather and the home’s location. Will a professional contractor give me a written estimate of the project? Yes. The contractor should provide a detailed description of the anticipated project completion time and the material, labor, and removal costs, including tax. You can also ask the contractor the following open-ended questions to ensure they are the right person for the job:What else should I know if there’s a repair?How does the repair work?What are the timelines/steps for the repair or maintenance? Our final thoughtsWhile a worn out roof can depreciate the appearance of your home, a leaking or sagging roof should be tended to immediately. Work with tenants to help alert you of any signs of leaks or water damage.  --- ### How to Find a Drywall Contractor for Your Rental Property [How to Find a Drywall Contractor for Your Rental Property](https://www.singlekey.com/en/ownerkey/maintenance/how-to-find-a-drywall-contractor-for-your-rental-property/) Meta: Landlords can resolve many minor drywall holes and repairs, but leaving it to a professional contractor for big, gaping holes or structural damage is best. Date: November 22, 2023 Author: SingleKey Content: There are many reasons why you would need repairs on drywall panels. Mold, a leaky ceiling, settling and shifting, or flood waters entering the rental property can cause the drywall to degrade and look bad. Ideally, you want to hire a drywall contractor when there's significant damage. Smaller nail holes in the drywall can be a DIY job. Read on to learn more about how to find drywall installers for all your rental needs. How to find a drywall contractor Most drywall contractors gain on-the-job training with reputable drywall companies. There is no formal education requirement for a drywall contractor. To become a licensed contractor, the aspiring craftsperson and fabricator must pass a comprehensive state board exam covering everything from site work, concrete, masonry, metal, carpentry, and finishes, including working with different types of drywall. Typically, a drywall contractor would install a drywall panel before an electrician would install an electrical outlet. It's better to hire a certified electrician to install electrical outlets when managing a rental property. In states like Florida, you need a gypsum drywall contractor license to become a professional drywall contractor. In other states, the licensing exam is broader, like in Alabama, where you are licensed as a professional contractor. In Montana, all contractors with employees are fined up to $500 for performing any type of construction work where they are adding to or removing from a structure without a contractor registration. When you're looking for drywall service, review social media and online Google business reviews of different local drywall installation companies. Some states may require general liability insurance. To find contractors in the drywall industry, search the Better Business Bureau. Drywall professionals accredited by the BBB have been properly screened. Here is a checklist to refer to when looking for contractors: How many years have they been in business as a drywall subcontractor? Are they a state-licensed contractor or registered with the BBB? Do they have good reviews? Reading drywalling cost estimates  Depending on the area needing repairs or the size of the drywall installation project, costs for drywall repairs can range from hundreds to thousands. Discover how contractors estimate drywall prices and services. Once the contractor has done an inspection of the area that needs work, they should provide a quote. Here are a few key items to look for in the estimate: Exact quantity of drywall sheets Drywall material cost Drywall labor cost size and location of the project Here is an example of a quote with good information compared to a quote lacking in information about what you are paying for: A Good Drywall Estimate Previous Next Budgeting for drywall projects The landlord and tenant's insurance may not cover average drywall repair prices, so prepare to pay out of pocket. Key considerations for budgeting include: Square footage measurement Quantity of drywall sheets Quantity of drywall screws, mud, and tape Man hours involved and labor costs of a professional drywall contractor There is always the element of uncertainty. Even if there’s something a contractor can’t quote properly until after the work on the construction project starts, you should still have a relatively accurate idea of what to budget. FAQ: Working with drywalling contractors What are the responsibilities of a drywall installer? Drywallers start and complete the entire drywall job by designing all the plans, cutting panels, working on the tape, sealing, and joint compound application, and fastening the panels to the support structure. Is drywalling a hard job? Yes, drywalling can be challenging, especially if you’re inexperienced. The drywall panels are cumbersome and essential in providing a durable surface for your home. If done incorrectly, a joint compound can look messy and lumpy, cheapening the appearance of your home. Does drywall help with insulation? While drywall may help a little with insulation, that is not the primary purpose. The drywall covers the insulation and poly that is between the studs. Our final thoughts Hiring professional contractors to repair your rental property will help you build trust with tenants, retain quality tenants, and, most importantly, properly take care of your home. Learn more about how you can manage rental maintenance issues. --- ### Is Rent Withholding Legal If Landlords Don’t Make Repairs? [Is Rent Withholding Legal If Landlords Don’t Make Repairs?](https://www.singlekey.com/en/ownerkey/maintenance/is-rent-withholding-legal-if-landlords-dont-make-repairs/) Meta: Renters are entitled to safe and sanitary conditions in their homes. The tenant must refrain from withholding rent, and landlords must address maintenance tasks. Date: November 10, 2023 Author: SingleKey Content: Landlord-tenant responsibilities are usually outlined in the lease agreement, but what happens when a landlord fails to meet their maintenance responsibilities in the allotted time? SingleKey recently surveyed tenants on whether they thought they had the right to withhold rent if a landlord did not follow through with non-critical maintenance. Learn what the respondents had to say. When is nonpayment of rent warranted? SingleKey polled over 1,100 people on whether they thought tenants should withhold rent if a landlord failed to complete non-critical maintenance on a property, and over half of the respondents said yes, it was acceptable to withhold rent. What does non-critical and critical maintenance include?  Maintenance tasks can range from urgent to non-urgent. While landlords should handle all maintenance requests promptly, they may consider some less immediate than others. For instance, if a tenant reports the hot water is not working or there's a mold infestation in the rental unit, those are the more pressing matters. Before your renters move in, you should establish who is responsible for certain maintenance responsibilities in the lease terms. Hypothetically, suppose the rental property’s dryer suddenly stops working. In that case, the landlord will likely be responsible for scheduling a repair person to assess the issue. While inconvenient, this is considered a non-urgent maintenance repair. It's reasonable if the landlord schedules a repair within a week. Here are examples of repairs and issues that landlords should prioritize: Heat and water issues Severe mold infestation Electrical issues Sagging ceiling Water leaks or pipe bursts Air conditioning repairs Learn what seasonal maintenance landlords are usually responsible for managing. One essential service that a landlord might take care of is gutter cleaning. If you live in colder climates, the local laws may make landlords and tenants responsible for snow removal, which is seasonal maintenance. A lease clause regarding what is permitted by state and local laws is also included in the lease terms. If a tenant causes severe and intentional property damage, the landlord may have the right to start an eviction process. An eviction notice is served before the landlord can ask the tenant to move out. Conversely, if the rental is uninhabitable or the landlord commits a drastic breach of their obligation in the lease term, the tenant can't technically stop paying rent. However, they can go through the proper channels to end the lease early, report the landlord to the local code enforcement, and potentially damage the property management's reputation online. What should be included in the rental agreement Rental agreements are essential in communicating expectations with your tenants. A rental agreement consists of everything from the due date and amount of monthly rent grace periods for late rent, the rental period or term, the rental property's address, and the landlord’s and tenant’s maintenance responsibilities. Procedures for tenants and landlords by region Beyond what is agreed upon in a residential lease, you are obligated to follow all federal, state, and local laws. In New Jersey, the Division of Housing Codes and Standards states that tenants have a right to habitability in their rental units. In Ontario, the Residential Tenancies Act states landlords' and tenants' code violations and maintenance responsibilities, specifically that a landlord must keep the rental in a "good state of repair." In Ohio, if the landlord fails to maintain a habitable condition, a tenant may: Make repairs and deduct the amount from the rent Abandon premises in a constructive eviction by tenant In Florida, if the landlord does not complete repairs or maintenance, the rights of the tenant allow them to: Abandon premises Retain the amount or rent without liability In California, withholding rent is justifiable if the following repairs are not completed: Collapse and non-repair of the bathroom ceiling Continued presence of rats, mice, and cockroaches Lack of heat and water Exposed faulty wiring Plumbing blockages In most states, a landlord cannot commit retaliation against tenants if a tenant files a complaint regarding their residential tenant rights. For example, a landlord cannot terminate a lease without a valid reason or raise the rent suddenly without giving the tenant 30-day notice after the first lease expires. FAQ: Is rent withholding legal if landlords don’t make repairs? Can tenants legally withhold rent in Texas? Tenants do not have the right to withhold rental payments in Texas if landlords have not completed repairs. The landlord has to make necessary repairs within six months to have time to assess the cost of repair and find a professional to complete the project. If a renter reports their landlord in Texas, landlords cannot retaliate against them by taking eviction actions. How long does a landlord have to sue for unpaid rent in New York? Before the landlord can evict or start a nonpayment case in housing court, they must submit a verbal or written rent demand specifying the deadline for the rent payments. A landlord notice for a rent demand typically happens when the tenant fails to pay rent after two to three months. What are landlord maintenance responsibilities? The landlord will notify the tenant of the maintenance duties they will be responsible for, and they should also be listed in the lease. Landlords are responsible for electrical, leaks, plumbing, heating, air conditioning, major repairs, and sometimes lawn care. Our final thoughts The best advice for any landlord is to communicate verbally and in the lease terms what your tenant should expect regarding their maintenance responsibilities. If a tenant reports a complaint or request, be responsive and alert them of a projected timeline of when you plan to complete or assess repairs. Learn more about how to work with your tenant to complete any required maintenance at your rental property. --- ### How Fast Should a Landlord Act to Fix Mold Issues? [How Fast Should a Landlord Act to Fix Mold Issues?](https://www.singlekey.com/en/ownerkey/maintenance/how-fast-should-a-landlord-act-to-fix-mold-issues/) Meta: Mold growth can become a serious issue if neglected for a long time. Landlords should take action quickly when a tenant reports mold by scheduling an inspection. Date: November 7, 2023 Author: SingleKey Content: When mold remediation is neglected over time, it can cause structural damage to your home and rental property and lead to allergic reactions, such as headaches, fatigue, sneezing, itchy throats, and coughing. In a recent SingleKey survey, we asked tenants how quickly they thought landlords should act on mold removal once the tenant has made a report. Many of the survey respondents thought landlords should be prompt and responsive to a tenant's complaint. When tenants report mold growth, how fast should you act? Mold growth can go undetected for months, so when a tenant reports the presence of mold, a property manager must act fast in assessing the problem. Hiring a professional is essential in evaluating what type of mold growth the rental unit has, how severe the problem is, and what is causing the mold spores to form. Our survey gave four choices on a reasonable time frame that a landlord should act within once the tenant reports the mold. 65% of survey respondents agreed that landlords should act immediately, while 30% said that a landlord should address the complaint within 30 days. According to the CDC, some of the more severe health issues and symptoms caused by exposure to mold include: Asthma Difficulty breathing Infections Persistent headaches If you hired a professional and the mold is hazardous to residents, you should notify your tenants and schedule a professional mold removal company immediately. All landlords must maintain habitable and safe living conditions. If a landlord blatantly fails to maintain safe living conditions, the tenant may take legal action against the landlord. Depending on where you live, different regions may have different protocols and time frames for addressing less severe mold issues. In Alberta, landlords must meet the minimum housing and health standards and immediately resolve any dangers of mold. According to the California Residential Building Code, a building with dampness and visible mold growth within habitable rooms, putting “life, limb, health, property, safety, or welfare of the public or the occupants” at risk, is declared a substandard building when assessed by a mold remediation professional or code enforcement officer. Substandard conditions are when a building fails to meet the minimum standards. In New York City, owners of residential buildings or residential properties must keep their tenant's homes free of mold infestation and pests. Average costs for mold removal Mold growth may be innocuous if you can easily remove it with surface-level cleaners such as 70% isopropyl alcohol or bleach. Mold spores and severe mold contamination are created by dampness and should be treated by a professional mold removal service. Once a tenant detects the evidence of mold, they should report it to the landlord. A mold inspection typically costs between $250 and $650. Many mold remediation specialists factor in the square footage and how severe the mold contamination is to provide estimates for removal. The average cost to remove mold in a 10 to 100 square foot area is between $500 and $1,500. Eliminating mold in an entire room or basement can range between $6,000 to $15,000. How to prevent mold infestations Even after the mold is removed from the rental unit, a landlord still needs to examine what caused it. Otherwise, it's likely to occur again and potentially cause property damage or pose health risks to residents. Usually, mold grows in places where there is moisture. Check for a leaky pipe or leaks in the roof or windows. A leaky pipe or hot water heater can cause moisture issues that lead to a mold infestation. Here are some steps you can take to prevent excess moisture and infestations: Conduct regular inspections to ensure a habitable living environment Indoor molds can take on a musty smell, which is a sign of mold growth Reduce the use of hot water to decrease humidity in the home Check the air conditioning unit for leaks Check for roof leaks. A leaky roof can cause mold Repair property damage to the roof or windows Repair water leaks in the house or basement Address water damage immediately Prevent the accumulation of moisture Install exhaust fans to help reduce humidity Add mold inhibitors to paint Look in areas with musty smells Dry flooded areas in your rental property quickly Follow all mold prevention guidelines FAQ: Addressing mold in rental properties Is mold a code violation? Most property owners must follow safety and health codes and disclose any previous infestations in the lease agreement. Every state and region has different reforms that each landlord must follow. For instance, if mold growth becomes a health hazard, a landlord must remove it immediately in Florida and California. You can hire someone to conduct mold testing for black mold or for types of mold that can be problematic for a person’s physical health. In Montana, the Mold Disclosure Act states that if a landlord or tenant detects any evidence of mold, the landlord must remove it to abide by housing codes. If the mold condition is severe, seek professional service, especially if it can potentially create hazardous conditions for tenants or the structural integrity of the rental home. Landlord responsibilities include maintaining habitable conditions for the tenants. If the property owner or landlord allows the growth of mold to become an infestation, that could be a health code violation. Landlords should respond to tenants’ mold complaints within a reasonable time period. Can a tenant withhold rent if the landlord delays mold remediation? If the dwelling unit or home has become inhabitable due to indoor mold infestations, the tenant may find a legal recourse to end their tenancy prematurely without legal issues. Tenants and landlords should seek legal advice whenever there is a dispute between both parties. A tenant may call the health department if they feel the landlord is not maintaining habitable living conditions. Withholding rent is usually unjustifiable unless the tenant goes through the proper channels to report inhabitable conditions first. What are the adverse health effects of mold? Many people are unaffected by mold growth. For some, mold in apartments or homes can cause mild to severe allergic reactions, including runny nose, itching, continuous coughing, skin allergies, trouble breathing, and headaches. Our final thoughts As a landlord, reducing indoor moisture will help minimize the chance of indoor mold growth. Taking action on tenant complaints within a reasonable time will help preserve your reputation and, most importantly, retain quality tenants. SingleKey can help you locate your ideal tenant with an accurate and comprehensive Tenant Screening Report. --- ### Does the Quality of Rental Maintenance Increase When Rent Prices Rise? [Does the Quality of Rental Maintenance Increase When Rent Prices Rise?](https://www.singlekey.com/en/ownerkey/maintenance/does-the-quality-of-rental-maintenance-increase-when-rent-prices-rise/) Meta: Tenants generally expect the quality of rental maintenance to increase with higher rents. Landlords increase rent when they need to cover repair costs or match higher inflation rates. Date: October 31, 2023 Author: SingleKey Content: In a recent SingleKey survey, we asked more than 800 tenants if they expected the quality of maintenance to improve when rental prices increased due to market conditions, such as rising interest rates. Many of the survey responses expected increased quality of maintenance. Should the quality of maintenance improve with rent price? The effects of rising interest rates can drive up rent. When this occurs, many tenants expect improved maintenance service to align with the higher rent prices. In our SingleKey survey, 75% of survey respondents said they think that with higher rents, they should receive increased services. Only 25% said they do not expect improved services when rents go up. Tenants who sign a lease agreement with higher rents reserve certain expectations for improved services. While every landlord must maintain a habitable rental unit and property, including routine maintenance, they may deliver mediocre service even with rent increases. Landlords must meet fundamental responsibilities, and every tenant's expectations of a landlord's responsibilities may be subjective. It's essential for a property manager to clearly define what their responsibilities are and what the tenant's responsibilities are in a lease agreement and again in the lease renewal. Each party is responsible for landlord and tenant maintenance duties in a rental property. Landlords are generally responsible for seasonal maintenance tasks that include: Cleaning gutters Snow removal Removing ice dams Inspecting the HVAC system and repairing it if necessary Tenants are responsible for testing their smoke alarms and replacing batteries, removing garbage from the rental unit or home, cleaning the living space, and changing light bulbs. Some state and provincial laws may dictate specific responsibilities. For instance, snow removal is not limited to landlord maintenance in New York. Owners, lessees, tenants, and occupants must clean snow and ice from the sidewalks adjacent to the properties within four hours between 7 a.m. and 5 p.m. It is essential to stay informed about regional landlord-tenant laws regarding maintenance. If you are a property owner or property manager, ask what the property's upkeep is worth. While all landlords must keep rentals pest-free and sanitary and generally are responsible for lawn care, there may be other maintenance requests the property manager is willing to take care of. There are minimum standards for landlord maintenance responsibilities, and whether there are rent hikes or not, all landlords must meet their obligations. The quality of maintenance should always be good, but whether they improve will depend on what agreement the landlord and tenant decide on. Rent increases are not uncommon when it's time for a rent renewal. Sometimes, what's happening in the economy can force landlords to implement dramatic rent increases for new renters. Why do interest rates increase and raise rental prices? Think of interest rates as the price of money. Interest rates balance the market, and when central banks print money, they lend it to the federal government. Whenever more money is printed, there will be more supply; if nothing else occurs, interest rates are lowered. If the government borrows more money, the demand increases, raising interest rates. If the money supply goes up, interest rates will likely fall. When the demand for money increases, the interest rates will typically increase. The Federal Reserve will raise interest rates when inflation becomes too high. Mounting inflation indirectly affects interest rates. When interest rates rise, it can influence other rate market rates to grow, including: The rental market prices Adjustable mortgage rates If mortgage rates go up and housing prices increase, people are less likely to buy and will remain renters. When the demand for housing outstrips the supply, rental rates can increase. How can rising interest rates affect a property owner? There are pros and cons for property owners when interest rates rise. Some landlords may raise rents to cover the higher costs of property taxes, insurance, maintenance costs, and mounting inflation. If the property owner has a low mortgage rate and is in good financial standing, higher interest rates may not affect them too much. Reasonable rent increases are expected during rent renewals. Sometimes, what's happening in the market can affect property managers managing multiple units, so they must increase rent to break even on the expenses of prospective or current tenants. The property manager's main objective is maintaining a rental income that covers expenses and makes a profit margin. Some pros and cons of rising interest rates for investors include: Pros of rising interest rates Investors can look for high interest rates in inflation-based government savings bonds Social security is indexed to inflation Cons of rising interest rates Borrowing will cost more Adjustable-rate loans will increase FAQ: Do tenants expect rental maintenance to increase as rental prices rise? What are some reasons why rental rates rise? Rent hikes are the result of the demand for housing. When there is a demand for affordable housing, and more people are choosing to rent, a higher increase in rent becomes more likely. Other contributing factors to rent spikes are low inventory of homes and inflation. What is the most a landlord can raise the rent? Every state and province has different laws on rent increase limits. For instance, Texas has no state-wide laws on rent limits. Once the lease is up, a landlord can give a rent increase notice without the confines of a rent increase cap. In California, there is a 10% total rent increase limit. In Ontario, it is 2.5%. Every property manager must learn the laws in the region where they are operating a rental property before raising the rent. What are typical maintenance responsibilities of a landlord? Generally, landlords are responsible for all major and some minor repairs, including leaks, mold removal, electrical maintenance issues, and major appliance repairs. They must ensure the heating and water are working properly, and they usually handle the lawn care and snow removal. When defining if a landlord or tenant is responsible for specific maintenance issues, ideally, landlords will want to include these terms in the lease agreement. Our final thoughts One of the most effective ways to protect yourself from legal trouble and manage your tenants' expectations is to clearly outline the possibility of a rent increase after the lease has expired in the lease terms. Define which maintenance tasks you will also be responsible for during the tenancy. Vetting potential tenants will help you find the ideal renter and minimize unpaid rent in the future. Get a SingleKey Tenant Report within five minutes to help you find the best tenant for your rental. --- ### Are Landlords or Tenants Responsible for Maintenance Tasks? [Are Landlords or Tenants Responsible for Maintenance Tasks?](https://www.singlekey.com/en/ownerkey/maintenance/are-landlords-or-tenants-responsible-for-maintenance-tasks/) Meta: Landlords and tenants have different maintenance tasks. Typically, the landlord's job is to handle lawn care and any seasonal maintenance. Date: October 30, 2023 Author: SingleKey Content: SingleKey recently gathered data from more than a thousand tenants asking who they thought was responsible for specific maintenance tasks, spanning small jobs, like changing a light bulb, to more significant repairs, such as furnace or water heater maintenance, that require the skills of a professional. Maintaining a home with routine upkeep will prevent the home's value from declining and help avoid more significant future repair costs. Learn about tenant responses, how landlords can efficiently manage routine maintenance, and the tenant’s expectations. Do tenants or landlords handle maintenance responsibilities? Maintenance Task Landlords Tenants Results Light bulbs 40% 60% Tenants Furnace filters 67% 33% Landlords  Clogged sink 52% 48% Landlords Large appliance repair 79% 21% Landlords Small appliance repair 50% 50% Landlords and Tenants Hot water tank/furnace 82% 18% Landlords Lawn care 55% 45% Landlords Bed bugs 57% 43% Landlords Fixtures (e.g., door knobs, faucets, light switches) 76% 24% Landlords There are many instances where it would be unusual for a landlord to visit a rental to complete mundane maintenance tasks such as changing a lightbulb, plunging a toilet, or cleaning interior spaces. More than half of our survey respondents agree that the responsibility of changing and purchasing a light bulb belongs to the tenant. While 48% of tenants said that the tenant is responsible for unclogging a sink, 52% said this job should be tasked to the landlord. If a tenant needs to enlist the help of a landlord for a clogged sink, the landlord will usually call on a plumber, which can be pricey. When your tenant reports a clogged sink, walk them through some easy-to-do steps to assess the problem before you get involved. First, ask them to remove the sink stopper and remove any grime or hair causing the blockage. Second, see if they can unclog the drain with a sink plunger. If none of these steps work, the last step before calling a plumber would be to remove the p-trap with a pipe wrench and clear out any obstruction––however, this final step may be tricky for many tenants. Most landlords manage rental property maintenance, but what that entails may vary from what state and national laws regulate the agreed-upon lease terms. Be responsive to your tenant's maintenance requests. You can often walk them through the maintenance issues or address them yourself if the problems are minor before hiring a professional. The property manager should hire a professional for major repairs, like handling plumbing fixtures, water damage, mold issues, or seasonal maintenance tasks. Outlining major and minor repairs in the lease terms All tenant maintenance requests should be handled by the landlord professionally and promptly. Give the renter proper notice of when they can expect a maintenance visit. Whether your tenants live in a single-family dwelling or an apartment complex, the rental agreement should state which maintenance responsibilities, including minor and major repairs, the landlord is responsible for. In Ontario and Alberta, the landlord has to comply with the landlord responsibilities in the Residential Tenancies Act (RTA) even if the lease terms do not list RTA rules, which include maintaining electrical, plumbing, heating systems, and appliances. State and local laws govern each U.S. state. In Texas, landlords must make reasonable repairs within a timely manner––at most seven days. Landlord responsibilities in Florida largely depend on what's agreed on in the lease terms and what type of rental unit the landlord is managing. If there is no applicable building code, the landlord's responsibility for repairs includes maintaining the plumbing, roof, windows, screens, floors, steps, porches, exterior walls, and foundations. In all states, landlord-tenant laws require a habitable condition with hot water and heating. Replacing light bulbs and unclogging a garbage disposal may seem like a menial, easy repair, but for some people, this could present an issue for them based on their circumstances. It is up to the landlord's discretion If they want to establish a relationship with the tenant and agree to help them with minor repairs and maintenance, such as: Replacing light bulbs Replacing furnace filters Clogged toilets that can be resolved with a plunger Clogged garbage disposal The landlord needs to ensure everyone is aware of their responsibilities. Ultimately, your goal is to guarantee a rental income and to protect the property's value by overseeing major repairs and managing the overall maintenance schedule. Some repairs and maintenance that commonly fall upon the landlord include: Gutter cleaning Large appliance repairs Lawn care Bed bugs Pest control Fixtures and faucets Once the tenant moves out, it's up to the property manager to refresh the rental's appearance and repair normal wear to the rental property caused by the previous tenancy. Landlords are not responsible for minor appliance repairs or replacements, including: Microwaves Coffee makers Air fryers Defining the maintenance terms in the rental agreement will avoid any misunderstanding between you and the tenant. Tenant maintenance responsibilities Despite the landlords bearing the brunt of many more substantial maintenance responsibilities, residents must also keep the rental clean and maintain certain areas of the property. For example, a tenant is responsible for removing garbage from a dwelling, maintaining sanitary conditions, and removing snow from the property, with the exception of roofs.  It’s considered a liability for the tenant to remove snow and ice from the roof, and the property owner is risking damage to the structure. When snow or ice accumulates on a roof, it can cause minor to severe damage, such as causing the roof to collapse. The landlord is responsible for maintaining a habitable living condition for the tenant. Some seasonal maintenance tasks are better for the landlord to handle or to hire professionals to manage. Creating a maintenance calendar for residential properties Before the initial move-in inspection, formulate an annual maintenance checklist. Month-to-month maintenance checklist: Does the rental need monthly pest control services? Does the rental need monthly lawn care? Seasonal maintenance checklist: Schedule gutter cleaning during spring and fall Schedule snow removal services for winter Check the basement for water leaks once the snow thaws Annual maintenance checklist:  Have the air conditioner serviced Schedule an electrical inspection that meets housing codes Having a list of vetted professionals at the ready will make scheduling services virtually effortless. As a landlord, when there is a property-related crisis, you want to be able to act quickly without worrying about researching the right tradesperson. Landlords can evaluate service repair professionals by inquiring about time frames, asking to see permits, requesting a written estimate, and, most notably, reading reviews. Examine the difference between a good plumbing quote and a questionable one for your investment property. FAQ: Who is responsible for rental property maintenance tasks? What is the biggest responsibility of a tenant? The tenant’s biggest responsibility is paying rent on time and complying with the lease terms. Which specific repairs are landlords responsible for? Landlords are responsible for managing major and minor repairs, including plumbing, heating, roofing, mold, and flooding issues. What are landlords responsible for? Landlords are responsible for placing tenants, collecting rent, and ensuring the rental property has not fallen into disrepair. Our final thoughts To help increase your chances of finding a trustworthy and reliable tenant to look after your rental property and pay rent on time, turn to a service like SingleKey, which can help you screen tenants based on their credit score, a public records scan, previous landlord references, and more. --- ### Who Should Supply Maintenance Equipment: Tenants or Landlords? [Who Should Supply Maintenance Equipment: Tenants or Landlords?](https://www.singlekey.com/en/ownerkey/maintenance/who-should-supply-maintenance-equipment-tenants-or-landlords/) Meta: When a landlord creates clear terms on maintenance responsibilities and offers the tenant tools for the property, they can foster a healthy relationship. Date: October 26, 2023 Author: SingleKey Content: SingleKey surveyed tenants to see who they thought should be responsible for providing maintenance equipment, and most of the responses pointed to landlords.Before allowing prospective tenants to visit your rental property, knowing which maintenance responsibilities you will cover is the best solution to managing expectations. Learn about defining maintenance duties in the lease terms and improving the efficiency of day-to-day tasks and monthly upkeep to help preserve your rental property.Who supplies maintenance equipment for the rental property?Over half of tenants concluded that landlords should supply maintenance equipment for rental properties.60% said it's the landlord's responsibility40% said it's the tenant's responsibilityThere is no concrete right or wrong answer on who supplies the rental property with maintenance supplies. Depending on where the rental property is, some home maintenance responsibilities may fall on the landlord. While landlords must provide a rental with safe and sanitary conditions, heating, and hot water, typically, they are not obligated to supply maintenance equipment to tenants. A landlord could make a nice gesture by offering the following maintenance equipment for a rental property: Plunger (for minor clogs)Step stool (for replacing light bulbs)Screwdriver and other tools (for opening the air duct vents to replace filters on the furnace and air conditioning unit)Rake or leaf blower (for lawn maintenance)Lawnmower (for lawn maintenance)If the tenant is inexperienced with using relatively complex tools, they could cause more damage in their attempt to make repairs. When your renter is adept at making minor repairs, preemptively ask them to notify you of any maintenance or improvements they volunteer to do so you can approve and create documentation. You can also include written instructions so that renters know that they must get approval to make repairs in the lease terms. The cost of repair can become pricey, so it's essential to assess what type of work is needed and decide if your tenant can see it through.Standard routine maintenance on a homeIf you're managing a residential rental, there is routine maintenance to consider, including:Gutter cleaningGutter cleaning entails climbing a ladder, which is a liability. Most gutters only need cleaning once or twice annually. Typically, it is the landlord's job to hire a gutter cleaning service.Pest controlMany places regulate landlords by law to provide residential tenants with a home that has clean, sanitary, and safe conditions, and this involves the removal of all types of pests, including bed bugs and termites. Pest control is the landlord's job.PlumbingPlumbing repairs can be significant, and because the property manager acts as the home steward for all rentals, it's their job to schedule repairs to assure the property owner that their house is looked after. The landlord should make repairs if there is a leak or water damage. If the sink or toilet has a minor clog that the tenant can resolve with a plunger, that job can be the tenant's responsibility. While the landlord is not obligated to supply a plunger to the home, it is usually a courtesy to do so. Lawn careIf you manage a home where the tenant has exclusive access to the yard, usually, it is the landlord's responsibility to hire a lawn care service. In some neighborhoods, a municipal code could require the property owner to maintain their lawn. If you're managing a home where the local jurisdiction enforces lawn upkeep, it's wise to manage it yourself. When municipal codes do not bind the residential tenants and landlords, it is acceptable to strike up a deal with the tenant that they will be responsible for lawn care.Ideally, you should include all the agreed-upon maintenance responsibilities in the rental agreement to establish clear communication between you and your potential tenants.What do property managers do?A good property manager is more than a tenant and homeowner liaison. Property managers oversee the rental marketing, showings, tenant screening, application approval, and placement of tenants. They collect the security deposit, conduct the move-in inspection jointly with the tenant, and ensure the property is in working order.During the inspections, the property manager and tenant document normal wear or property damage that needs attention. Before the rental agreement is signed, you must ensure the prospective tenant understands the lease agreement and what their responsibilities entail.As a property manager, you will collect rent money and manage the entire rental process, including scheduling and coordinating repairs and some maintenance issues within a reasonable time. Landlords are responsible for any repair costs for the property.What can landlords do before potential tenants move in?Once the lease agreement is signed, have a checklist of things to do before making the rental available, including:Installing a fire extinguisher, carbon monoxide detectors, and smoke detectorsEnsuring all appliances are in working order and the water heater is functioningEnsuring there is no danger in the structural componentsMake necessary improvements to the propertyPaint or repair any damages to the rental before the move-in dateKeep the property cleanConduct the first inspection with the tenantWho is responsible for regular maintenance?Every location has different laws concerning responsibilities belonging to the landlord or the tenant. Effective preventative maintenance planning before the tenant moves in will help landlords save money in the long run before maintenance issues become more serious.You must outline all of the regular maintenance responsibilities in the tenancy agreement. If you have maintenance equipment available at the property, you can ask the renter if they want to store it at the rental.Different provinces and municipalities may operate under various regulations. For instance, in Ontario, the landlord is responsible for routine maintenance, which includes keeping the lobby, halls, elevator, laundry room, pool, and parking lot or garage clean and tidy.Homeowners Association (HOA) rules commonly apply to townhome rental activity in the United States. The purpose of an HOA is to provide services to its community and maintain the community's vision. The community vision can include everything from the neighborhood's curb appeal, including the upkeep of lawns, to the house’s exterior paint color. In most places in Canada and the U.S., the landlords are responsible for seasonal property maintenance.FAQ: Who should provide maintenance equipment? What are the maintenance duties of a landlord in the United States? Typically, the landlord is responsible for maintaining the landscaping if shared by multiple units in the U.S. It’s up to the landlord if they want to state these terms as residential leases. Landlords must keep all rentals in habitable condition.Other landlord duties include:Scheduling and coordinating major repairs and some minor repairsSeasonal maintenance, like gutter cleaningLawn maintenance (usually)Responding to all maintenance requestsEnsuring the rental has hot waterEnsuring the property has structural integrityInstalling a smoke detector What are the maintenance duties of a landlord in Canada? Different landlord-tenant laws regulate every province in Canada. In Ontario, the Residential Tenancy Act (RTA) states, “The tenant is responsible for ordinary cleanliness of the rental unit, except to the extent that the tenancy agreement requires the landlord to clean it.”The property manager is responsible for learning about local laws to ensure they meet all maintenance requirements. What is the biggest responsibility of a tenant? The tenant’s biggest responsibilities are to pay the rent on time, not damage the property, keep the rental in sanitary condition, and abide by the lease terms. If there are any damages to the property caused by the tenant, the landlord can deduct money from their security deposit and list the cost of repairs in an itemized receipt. The landlord is not responsible for the tenant’s personal property. The tenant can opt to get renter’s insurance to protect their personal property in the event of a natural disaster or damage due to vandalism. Our final thoughtsOne of the first steps in managing a rental is to learn about landlord-tenant laws and build trust with your tenant. Companies like SingleKey can help landlords with this through its tenant screening service and Rent Guarantee Program, which includes all-encompassing eviction services managed by experienced paralegals.  --- ### How to Winterize a House: Working With Your Tenants [How to Winterize a House: Working With Your Tenants](https://www.singlekey.com/en/ownerkey/maintenance/preparing-your-home-for-winter-a-checklist-for-new-landlords/) Date: October 24, 2023 Author: Mark Gregorski Content: Did you know repairing the damage from a frozen pipe can cost you over $5,000? The last thing any rental property owner wants is a hefty bill to fix weather-related damages. This is especially true in places where harsh conditions take a heavy toll on homes. Before you’re faced with unexpected winter maintenance expenses, explore this step-by-step guide to find out how to winterize a house and how your tenant can help you get the job done. A step-by-step guide to winterizing a house Winterizing your house requires performing a wide range of tasks that vary in complexity. Ideally, you'll want to complete some in the fall before the temperature drops, such as turning off exterior faucets. Others you can tackle during the winter, such as topping up attic insulation. In addition, certain types of maintenance will demand your attention only once, while others will be ongoing through winter. Luckily, you don't need to take on each task on your own. Depending on your relationship, your tenant can help you prepare for winter. Some examples of jobs you can safely assign to your renter include adjusting the thermostats and changing the batteries in the smoke alarm. They can also help with routine maintenance, such as clearing snow from the sidewalk and driveway. Cooperating with your tenant will make the winterization process smoother and save you time, as you won't need to visit your rental property multiple times to get things done. Before you start winterizing your home Take some time to plan your maintenance activities so that you can stay organized and on schedule. Ensure you do the following: Create a list of items you'll be checking and the tools and equipment you must bring to complete any necessary repairs. Communicate with your tenant about the pending inspection and maintenance work. Arrange with them a suitable time to complete your list of tasks. Provide written notice to your tenant at least one day before the scheduled inspection. During the inspection, document your findings on the property's condition and note what work you need to conduct to get it ready for winter. Fall tasks Here are the most crucial maintenance tasks to finish before winter arrives and who's responsible for them. Step 1: Shut off the exterior faucets Turn off all exterior faucets and drain excess water from the pipes. Doing so will prevent water from freezing inside, which can cause the pipes to burst and flood the home. The landlord is responsible for performing this task. Step 2: Inspect the roof for damaged shingles Check the roof for damaged or missing shingles and make any necessary replacements. An intact roof will help prevent water damage from melted snow. The landlord assumes responsibility for this task. Step 3: Clean the gutters and eavestroughs Clear the gutters and eavestroughs of leaves, twigs, and other debris so water can flow freely and collect on the ground away from the property. Doing so prevents ice dams from building up along the roof and moisture from harming the home’s foundation. The landlord is responsible for this task. Step 4: Disconnect the garden hose Disconnect all garden hoses, drain the excess water, and store them in a dry place. Doing so ensures water doesn’t remain trapped inside, which can freeze and rupture the spigot or hose, resulting in flooding. Typically, the landlord carries out this task. Step 5: Empty the flower pots and cover up bushes and shrubs Remove soil and water from flower pots and store them in a cool, dry place like a garden shed. Frigid temperatures may cause the pots to crack or become brittle, especially if any leftover water freezes. Cover up bushes, shrubs, and similar plants with burlap, bed sheets, or canvas cloth. This helps to prevent damage to the plants from freezing moisture. The tenant can carry out both tasks, but the landlord can help if needed. Step 6: Turn off the power to the air conditioning unit Disconnecting power to the air conditioning unit prevents water build-up should it become active during warmer days. Once the water freezes, it can cause damage to the internal components. The landlord is responsible for performing this task. Step 7: Clean the chimney Inspect the chimney and clear it of any obstructions if necessary. Over time, creosote (a combination of tar and soot) accumulates on the inside, which can cause smoke to flow back into the home and possibly spark a fire. The landlord is accountable for this task. Step 8: Seal or stain the wooden deck or porch Check the wooden deck or porch for tattered spots and patch them up using a stain/sealer product. A combination of sealing and staining will ward off water damage and reduce color fading. The landlord is responsible for carrying out this task. Step 9: Seal gaps and cracks around the windows and doors Apply caulking or weather stripping to any large holes and cracks around windows and doors. This will prevent cold air from creeping in, keeping the home warm and energy costs low. The landlord is responsible for performing this task. Winter tasks Below are maintenance tasks you can perform during winter, some of which you can ask your tenant to complete. Step 1: Replace the furnace filter Inspect the furnace filter monthly and replace it as needed. Doing so ensures the furnace runs smoothly and keeps the home free of dust and dirt. The landlord is responsible for performing this task. Step 2: Inspect and service the HVAC system Perform regular maintenance of the HVAC unit to ensure it’s operating efficiently. Neglecting this routine can result in inflated energy bills, costly repairs, decreased air quality, and uneven warm air distribution throughout the home. The landlord is responsible for performing this task. Step 3: Clean the attic vent and upgrade the insulation Inspect the attic vents and clear them of excessive dust and debris. Doing so ensures moisture can exit the attic freely rather than get trapped, creating a perfect environment for mold and mildew. Also, assess the state of the attic insulation and top it up if necessary. If the attic lacks sufficient insulation, too much heat will escape, which can cause thick ice dams to form. The result is a higher energy bill and possible mold growth. It’s the landlord’s responsibility to perform both of these tasks. Step 4: Adjust the thermostat for winter temperatures Set the home’s thermostat to a temperature suitable for winter. This helps save on heating costs, as the HVAC unit will work to ensure the property is never too warm or too cool. Also, inspect the hot water tank’s thermostat to ensure it’s set to an appropriate temperature (anywhere from 54°–60°F is fine). The household won’t be able to access enough hot water if it remains too low. The tenant can take charge of these tasks. Step 5: Test the smoke and carbon monoxide detectors Ensure all smoke and carbon monoxide alarms are working correctly; replace the batteries if needed. Faulty alarms pose a critical safety risk, as they may fail to alert the occupants of a fire or carbon monoxide leak. Either the landlord or tenant can carry out this task. Step 6: Clear snow from walkways, steps, and driveways Removing snow from walkways, stairways, and driveways helps prevent injuries from falls. It also reduces the chance of melted snow seeping into the home’s foundation, which can result in costly damage over time. It’s also important to periodically spread sand or salt on these surfaces to make them safer. Usually, the tenant is responsible for these tasks. Our final thoughts Knowing how to winterize your home is vital, given the potential for damage from the year's most hostile season. As with any form of rental maintenance, notify your tenant of the upcoming inspection and repair work ahead of time, and prepare a list of items you need to check so you don't forget anything. As the landlord, it's primarily your responsibility to winterize your home, but your tenant can assist to make the job easier. Delegating simple maintenance tasks to them is perfectly fine, but always consult with your tenants first to ensure they're comfortable taking responsibility and can perform the tasks safely and efficiently. Keep in mind that maintenance is a routine part of managing a rental property. Learn more about how to handle maintenance issues in your rental without hurting your bottom line. --- ### How Landlords Can Hire an Affordable Plumber for Their Rental Property [How Landlords Can Hire an Affordable Plumber for Their Rental Property](https://www.singlekey.com/en/ownerkey/maintenance/how-landlords-can-hire-an-affordable-plumber-for-their-rental-property/) Meta: Licensed plumbers may charge an hourly rate or set a fixed fee. Landlords should ensure materials and labor costs are included when they review quotes. Date: October 13, 2023 Author: SingleKey Content: Landlords managing a rental may be all too familiar with a tenant's weekend call or an occasional late-night text informing them that there is a leaky pipe, water is pooling on the floor around the dishwater, or the sink is clogged. Whether you manage an old house or a relatively new property, we highly recommend creating a list of household and repair professionals, including a plumber. We'll dive into why it's essential to have a reliable plumber or plumbing company poised to help if a plumbing emergency occurs. If you want to compare a good plumbing quote with a bad quote, click here. Why is having a professional plumber necessary for your rental? Even handy and skilled property managers are reluctant to try and repair plumbing issues themselves. Indoor plumbing can be risky with inexperienced hands. A lot can go wrong. You don't want to be responsible for attempting to fix a problem and making it worse. Here's some information you'll need as a landlord and reasons why you would need a professional plumber: Repair the water heater if a pipe leaks or bursts Toilet clogs Clogged sink Waterline break Dishwasher leaks Leaky pipes As a precaution, you can warn tenants about what not to put down the drains. Food waste in the sink and excessive toilet paper can contribute to plumbing issues. Schedule plumbing contractor visits for annual maintenance, and ask your tenant to report leaky pipes or plumbing-related issues. How to review a plumbing quote You’ll come across different types of plumbing estimates as a property manager. A good and trustworthy plumber will charge for their time and materials, such as plumbing fixtures. Their quote should read like a well-organized, itemized receipt. As you're reviewing the itemized quote or receipt, look for material markups. There is no rule of thumb regarding what the markup should be in materials, but depending on the size, shipping costs, and the effort it takes to obtain the material, the markup should not exceed 20%. The average profit margin for plumbers is generally 20-35%. Here is an example of a good plumbing estimate template that should list fair quotes versus one that isn’t as thorough. A Good Plumbing Quote A Bad Plumbing Quote Previous Next Cost estimates must accurately reflect the project, supplies, quantity, and services needed. When reviewing a plumbing estimate, look for the following components to ensure it is a thorough and professional assessment: Each line item should have an associated cost Each item must clearly describe the proposed work the plumber will complete Each line item should include the labor cost, materials, quantity of materials, and hours. The estimate should include call-out fees, hourly rates, and travel fees  to diagnose problems When speaking with a plumber, ask these general questions to get an idea of the repair costs: What’s your lead time? What else should I know if there’s a repair? How much do you estimate the repair work will cost? What are the timelines/steps for the repair or maintenance? What warranties come with your work and can you provide them in writing? Mac’s Pro Tip: Make sure you shop around. Go to a more expensive, well-established company and compare their quote with one from a more cost-effective company. Budgeting for plumbing repair jobs Landlords should expect different pricing models when asking for estimates from experienced plumbers. Plumbing rates will include either a flat rate or an hourly rate. Sometimes, plumbers won't present an accurate figure until starting the job. If it is a significant job, and the plumber prefers to work under an hourly rate, that is reasonable as long as the plumber provides you with regular updates on the estimated completion time and cost of materials. When budgeting, a fixed flat fee is usually better than paying hourly wages because you know the cost estimate upfront. You can also agree with the contractor to implement billing deadlines based on agreed-upon deliverables. Here are key considerations for budgeting material and labor costs: There's always an element of uncertainty with construction and indoor plumbing. There could be unexpected and additional work if the walls need to be removed to make plumbing repairs. If the plumber charges an hourly rate, ask relevant questions to give you a price range. Learn how many hours the plumber expects to work on the project and provide different scenarios if unexpected issues arise. Get multiple quotes and the estimated time of project completion. You can learn more about rental property renovation with this guide from SingleKey. While inexpensive remodels and plumbing projects are possible, be flexible with your budget for major repairs. Common plumbing repair issues  There are minor and significant plumbing signs to be aware of in your home. If the drains are clogged or the water pressure changes, it's a sign that something is wrong with your plumbing. Significant signs, like musty odors, bulging walls, or sagging and darkened ceilings, could indicate severe mold or an undetected leaking drain line. If you find a sagging ceiling or bulging walls, this may be a sign you have water damage. If you need emergency plumbing services, research master plumbers beforehand so you have professional resources to contact. Mac’s Pro Tip: Ask your supplier for recommendations of contractors in the area. What to look for in a professional plumber Ensure you look for plumbing companies with experienced qualifications, licensing, and certifications. Does the company have a quick response time, appear organized, and are their quotes reasonable? Check with your state agency to see if the plumber is licensed and if they're listed with the Better Business Bureau. Some states require that a plumber has the following types of insurance: Worker's compensation insurance Public liability insurance Property damage insurance Reading online reviews is the best way to learn how ethical, experienced, and prompt your plumber is. Landlords can be more discerning when they have more information. Working with your tenant during repair projects When plumbing repairs are needed during a tenancy, the landlord must schedule repairs with the tenant, keep them informed of what to expect, and let them know when they should expect the repairs to occur. If you plan to conduct annual inspections for repairs, ensure you understand the local laws on how often you can conduct inspections. Here are some landlord tips when scheduling repairs: Inform the tenant that you have a plumber and inform them of the necessary repairs. Ask the tenant when they will be available to allow the plumber inside the house. Meet the plumber the first time they visit the rental to get an estimate of the plumber's labor and material costs, and ask all your questions. Providing reviews for a plumbing business Whether your plumber did a simple drain cleaning job or worked on several major improvement projects, it's essential to leave online reviews and give the plumber feedback. First, before you make a payment, ensure the job is complete. The plumber's costs should closely align with the estimate or quote. Document the before-and-after photos. This way, the process is documented and can be used for insurance claims. If the plumber did an exceptional job, leave a good review online to describe your experience. FAQ: Plumber costs and what to look for in contractors What should a plumbing quote include? The quote should include the extent of the work, the timeline, the labor and material costs, and whether the cost is a fixed flat fee or whether the plumber intends to work hourly for more significant projects. What do most plumbers charge per hour? Hourly rates vary depending on experience level and the contract the landlord has worked out with the plumber. An experienced plumber can charge between $100-$200 per hour. How do you calculate labor costs for plumbing? Calculate the hourly wage and multiply how many hours the plumber expects to work on the job to get an estimate of what the labor costs will be. Our final thoughts When you're faced with plumbing maintenance issues at your rental property, cost and quality become major factors. Research and find an affordable plumber before you run into an emergency repair, and be sure to review plumbing quotes in detail before making a decision on any plumbing work. Learn more tips on how to manage rental maintenance issues, including different methods to prevent maintenance concerns from becoming more serious problems. --- ### How to Manage Rental Property Maintenance Issues [How to Manage Rental Property Maintenance Issues](https://www.singlekey.com/en/ownerkey/maintenance/how-to-manage-rental-property-maintenance-issues/) Meta: Learn property maintenance strategies and professional tips for landlords to manage rental maintenance and repair issues efficiently. Date: October 11, 2023 Author: Mark Gregorski Content: One of your most vital duties as a landlord is to stay on top of property maintenance. Keeping your rental in great shape will preserve its value, minimize the risk of severe damage over time, and provide tenants with a comfortable and safe living environment.However, property maintenance also demands a sizable investment in time and money. If executed poorly, it can produce more harm than good. In this detailed guide, we’ll outline some tips and strategies for managing maintenance in your rental property.Pro tips for preventive rental property maintenanceRental property maintenance is fraught with unpredictability. It's nearly impossible to anticipate when something will break down. Estimating the amount of money you need to set aside to get the job done can also be challenging. For these reasons, adopting a preventive maintenance approach for rental maintenance is wise. Preventive maintenance involves detecting, tracking, and resolving issues as early as possible to avoid facing more significant problems down the road. Being proactive will save you plenty of time, money, and stress in the long run as a landlord.  Here is a list of preventive maintenance tips to get you started. Conduct regular inspectionsConducting periodic inspections is the foundation of successful property maintenance. By establishing an inspection routine and sticking to it, you can spot trouble early and take the appropriate measures to fix an issue before it can escalate. That isn't to say you’ll never face emergency repair work—only that you can reduce such incidents by addressing them sooner rather than later.A good rule of thumb is to conduct at least two routine inspections per year, covering every aspect of your property. Older properties or those in poor condition may require more frequent checks.Remember, you don't always need to enter the property to see how things are going. You can stop by occasionally to view the exterior, noting things like window damage or excessive garbage piling up in the yard.Establish a maintenance scheduleNot all maintenance duties require the same level of attention. Depending on the nature of the item, you may need to perform maintenance every week, every month, every quarter, every year, or every year. A detailed checklist will be incredibly helpful for staying organized and up to date with each task.For example, you'll likely only need to inspect the furnace and clean the eavestroughs annually. Some areas require frequent upkeep, such as the lint trap in the dryer. However, it's best to assign your tenants responsibility for everyday tasks. Just don’t forget to do a thorough review of all items, even the mundane ones, during your regular inspection. It's also helpful to divide maintenance duties by season. A winter maintenance checklist will look dramatically different from a task list geared for the spring.Document your property maintenance workIt's crucial to keep track of all issues affecting your property and document the work performed to address them. Doing so will give you timely knowledge of your rental's condition, allowing you to budget accurately and prioritize tasks accordingly. You can also better predict the need for large-scale repair work or replacements based on the age and condition of different components of your rental.Take detailed notes of what you uncover during each inspection. Summarize the results and note any necessary repairs or replacements. Once the work is complete, track what was done, the time it took, the total cost, and any other information you deem valuable.Standardize your maintenance materialsDecide which tools and materials you'll use for repairs and maintenance beforehand—and stick to them. That way, you can maintain consistency and avoid planning the same activity from scratch in the future.Standardizing your maintenance routine is especially beneficial if you own multiple properties of a similar build and style, such as a set of condo units in the same building. For example, by choosing the same color scheme and finish for paint jobs, you’ll save time and money. The same goes for door handles, kitchen cabinets, lighting fixtures, and flooring.Staying consistent with your repairs and maintenance routine will make renovations more manageable and efficient as well. You'll know what materials are needed ahead of time and can easily forecast your costs.Choose the appropriate level of qualityIt's unwise to disregard quality and opt for the cheapest fix when it comes to property maintenance. However, there's no need to spend a fortune to keep your rental in top shape and satisfy the needs of your tenants.Remember that a rental property is an investment, not your home away from home. To ensure your rental generates a healthy profit, budget modestly for items that need fixing, restoring, or replacing. Strive for a balance between quality and practicality. When attending to repairs and maintenance, consider the needs of your tenants first and foremost. Prioritize safety, cleanliness, and functional amenities that enhance their well-being.Tenant-proof your propertyFortifying your rental against the inevitable damage and increased wear and tear is worthwhile. Over time, you'll spend less time and effort revamping or replacing any worn-out items. This also means your repair and maintenance bills will be far lower, too.The way to accomplish this is by being savvy with your choice of materials. Opt for durable, easy-to-clean materials that can withstand excessive use over a long period. Avoid those that are delicate and require extensive upkeep. For example, hardwood looks stunning but is prone to damage and expensive to repair. Sturdier materials like laminate are better alternatives.Preventive vs. reactive property maintenance Despite your best efforts, rental property upkeep can get chaotic. That’s when you need to act strategically. Keep in mind that not all maintenance issues require equal attention—some are more urgent than others, especially if they pose an immediate danger to your property or tenants.For example, electrical hazards should be dealt with promptly, given the risk of fire breaking out. Other emergency repairs include burst pipes, major leaks, and a malfunctioning furnace during the winter.As a landlord, it's vital to prioritize maintenance issues that can render your property uninhabitable or significantly impair the quality of life for tenants. In doing so, you can avoid steep repair bills, insurance deductibles, and potential lawsuits by attending to these issues promptly.Key areas to maintain in your rental propertyCreating a detailed checklist is the best way to stay organized and deal with maintenance for each rental property. You should generally include the following categories to maintain in your rental: PlumbingElectricalHeating, ventilation, and air conditioning (HVAC)Appliance repairs and maintenanceStructural maintenanceExterior and yard maintenanceParking areasPest controlAttic insulation and chimney Troubleshooting rental maintenance issuesWhen something in your rental needs fixing or replacing, you have two options: do it yourself or hire a professional. Explore your options below.DIYSome landlords prefer a hands-on approach when it comes to property maintenance. If this is you, you need to be familiar with identifying and diagnosing a wide range of issues and know how to remedy them step by step. You'll also need access to various equipment and be able to source parts at competitive prices to keep your costs down.Choosing the DIY route can be tempting, as you stand to save a lot of money. However, carrying out the work yourself may be frustrating if you lack the proper skills, tools, and time to do the job. You also risk causing irreparable damage to your rental or making the living space inhospitable for your tenant.Hiring a professionalIf you're uncomfortable doing property maintenance tasks yourself or lack time to do it, you can outsource the work to local vendors. This option is wise, as you'll benefit from the professionals' experience. Skilled tradespeople also have the appropriate tools and equipment and will usually source all the materials needed for the job themselves. They can also complete the work with a higher degree of quality and precision.A significant drawback of enlisting a skilled tradesperson is the higher price tag. In addition, you relinquish control over scheduling and how the job is conducted. Therefore, it's always essential to get multiple quotes, assess the quality of the work once it’s completed, and follow up with your tenant to ensure they're happy with the results.Learn more about how to decide whether to DIY or hire a pro.How property maintenance impacts your rental businessMaintenance isn’t simply a chore as a landlord—it’s a direct investment in your property’s integrity and profitability. Failing to keep your rental in good condition can lead to these negative consequences: Expensive and lengthy repair work Damage brewing in the background will worsen over time, leading to costly repair bills in the long run. Sometimes, the problems can be so severe that you may need to evict your tenant temporarily to perform the necessary restorations. Your property may sit empty for months, resulting in a loss in rental income. Poor landlord-tenant relationships As a landlord, your tenant relies on you to keep the property habitable. This includes handling any issues that arise in a reasonable time frame. No one wants to live in a home with a broken-down fridge, clogged toilets, and cockroaches. Failing to carry out proper rental maintenance can harm a renter’s quality of life, leading to complaints and a refusal to renew their lease. Higher tenant turnover Tenants who are distressed by your rental’s disrepair will likely move elsewhere as soon as possible. Convincing new residents to take their place may be a formidable task, especially if you’ve developed a poor reputation. Each month that your property sits empty is a direct hit to your bottom line. Legal trouble Ensuring your property is well maintained is not only necessary for your rental’s success—it’s required by law. While regulations vary from region to region, each jurisdiction has specific building and fire codes, as well as health and safety standards that rental property owners must observe. Violating one or more local ordinances can result in the local housing authority declaring your property unsuitable for habitation, which means your tenant must vacate the premises. You may also incur fines and penalties. Our final thoughtsRental maintenance can be tedious and sometimes unpleasant. It’s also another expense that directly reduces your profit margin. But it’s a crucial and unavoidable part of being a successful landlord. Without routine maintenance, you risk extensive damage to your property, prolonged vacancies, and legal trouble with local authorities.What makes maintenance tasks easily manageable is proper planning with a focus on preventive measures. Establish an inspection routine and maintenance schedule, standardize and document your processes, and focus on fixing the most pressing issues quickly. Tenant-proofing your rental by supporting it with durable materials and hiring professionals to do any repair work outside your expertise are also sound strategies. --- ### How SingleKey’s Rent Guarantee Helps Landlords During the Eviction Process [How SingleKey’s Rent Guarantee Helps Landlords During the Eviction Process](https://www.singlekey.com/en/rent-guarantee/how-singlekeys-rent-guarantee-helps-landlords-during-the-eviction-process/) Meta: Learn about the cost of evictions and how SingleKey’s Rent Guarantee Program helps landlords avoid common pitfalls during the eviction process. Date: September 27, 2023 Author: Mark Gregorski Content: No landlord looks forward to evicting a tenant. For property owners like Joe, who manages half a dozen rental properties, the eviction process is a “nightmare”, especially since “you need to fill out the correct forms in the proper order. If there are any mistakes, the Landlord Tenant Board rejects the paperwork, and you must begin the process again."  If you have no choice but to evict, a rent guarantee program can help simplify the complexities of the legal process, as well as ease the financial and emotional burden. In this guide, we’ll explain some of the real cost of evictions, common pitfalls you may encounter during the eviction process, and how SingleKey’s Rent Guarantee can help you avoid them. The real cost of evictions The cost involved with eviction proceedings is a major consideration for property owners.  In the United States, it costs an average of $4,400 to remove a tenant from your rental unit. If you rent out a property in Canada, the average amount you can expect to pay is $6,000. These figures include court filing fees, legal fees, sheriff fees, and lost rent.  There are instances where evictions have cost property owners upwards of $11,000, but expenses will vary depending on several factors. How quickly it takes to receive an eviction order is high on the list of deciding factors. How long does it take to get an eviction hearing? Like the associated costs, the length of time it takes to get an eviction hearing depends on many factors. Each jurisdiction's approach to handling evictions differs. Some regions impose longer wait times and require the completion of more documents. For example, in a state like Vermont, you must give your tenant a 60-day notice before even initiating an eviction.  In addition, you must also consider how efficient your local landlord-tenant board is in settling cases and issuing eviction orders. In some areas, these organizations face a massive backlog of applications and suffer from staffing shortages. For example, in Ontario, you may receive a Notice of Hearing after five months of submitting your application (an improvement on the previous eight to ten month waiting period).  In New York, it generally takes one to five months to have the court address your complaint and issue a ruling on the eviction.  The hidden emotional cost The cost and time involved in evicting a tenant can be significant. And for some landlords, the emotional strain can be too much to bear. Just asking a tenant to leave can induce anxiety, not to mention the burden of having to assemble the necessary paperwork and scramble for money to cover the expenses. The entire ordeal can be overwhelming, especially if it's your first time going through an eviction. You may experience bouts of anger, frustration, guilt, and despair, which can negatively impact all aspects of your life. Common eviction pitfalls Here are some of the most common stumbling blocks you may encounter while evicting a tenant: Lack of time Removing a tenant from your rental can be a huge hassle. You must perform a series of specific steps accurately and in a timely fashion for the court to consider your case. These include serving a written notice, filing an eviction application, gathering evidence to support your claim, and attending a court hearing. Going through the process from start to finish can be challenging if you work a day job or have other family or business priorities that demand your attention. Accidentally breaking the law If you’re a budding landlord in the midst of an eviction, you may inadvertently breach local residential tenancy laws. These can include kicking out a tenant prematurely, replacing the door locks on your property, withholding security deposits, shutting off utilities, removing the tenant’s possessions, and entering the property without proper notice. Committing even one legal infraction can prolong the eviction and add to your costs. Court delays Suppose your local landlord-tenant board lacks adequate staff, has suffered budget cuts, and is poorly managed. In that case, it may take months before you’ll have the opportunity to have your case heard. Failing to follow procedures  Navigating the legal jargon and documentation involved in an eviction can be confusing and frustrating. In your haste to evict a problematic tenant, you may fill out a crucial document incorrectly or forget to submit it entirely. Such errors can delay your eviction application. In the worst-case scenario, the court may dismiss your case and render a verdict that favors the tenant. You’ll have to restart from the beginning, which means more time and money wasted. Expensive legal fees While hiring legal support to assist you with your eviction can be a savvy move, it comes with a cost. Legal fees can quickly add up, draining even more of your financial resources. If you’ve exhausted your rental reserve fund, you may need to take out a loan or dip into your personal savings account to cover this expense. Navigating evictions with the Rent Guarantee Program   With SingleKey's Rent Guarantee, you won't have to tackle these eviction pitfalls alone. You’ll gain access to top paralegal and financial support to help you navigate the entire eviction process with confidence. Some of the program benefits include: A dedicated paralegal to handle all the paperwork, ensuring each document is completed accurately and delivered on time Professional guidance on your rights and responsibilities during the eviction proceeding and an explanation of what evidence you need to win your case  Tips to deal with unresponsive and hostile tenants, including how to serve eviction notices and other legal documents Help in negotiating a resolution with your tenant and a legal representative during the court hearing  It's not only legal support that you receive: SingleKey will reimburse you for legal costs of up to $2,000. You’ll also be covered for other costs related to an eviction, like lost rent and malicious property damage caused by a tenant. Our final thoughts Going through the eviction process as a landlord can be stressful, costly, and intimidating. Just one legal misstep can lead to your case being thrown out or to an even nastier legal dispute with your renter. The good news is that an eviction is far less painful with the right tools and resources. SingleKey's Rent Guarantee will put you in touch with a paralegal team who will do all the heavy lifting for you, from handling all the paperwork and acting as your legal advisor. You'll also get financial assistance to cover legal expenses, lost rent, and property damage. Learn more about how the Rent Guarantee Program helps landlords take the stress out of evictions. --- ### Can a Tenant Run a Business from a Rental Property? [Can a Tenant Run a Business from a Rental Property?](https://www.singlekey.com/en/ownerkey/risk-management/can-a-tenant-run-a-business-from-a-rental-property/) Meta: Discover the risks posed by a tenant running a business from your rental property and learn how to set clear rules and manage potential liabilities. Date: September 18, 2023 Author: Mark Gregorski Content: According to the U.S. Small Business Administration, 50% of all small businesses begin as home-based operations. As a landlord, this means there's a good chance your next resident will run a business from your rental. But can a tenant run a business from a rental property in the first place? The answer is yes. A resident is legally allowed to do so. However, this exposes you to more risks, including fines for zoning violations, complaints from neighbors about excessive noise, and hefty lawsuits from the renter's customers if they get injured while they’re at your rental property. Before allowing residents to conduct business from your property, consider how granting this privilege will impact you. In doing so, you'll better understand your risks and can take steps to protect yourself.Should I allow my tenant to run a home business? While it's perfectly legal for a tenant to run a home business from your rental property, they can only do so with your explicit permission. Before you permit them to set up shop, get acquainted with how their business operates.Determine the type of businessHome-based businesses can differ significantly in scale, complexity, labor involvement, and cost. While there are many ways to differentiate them, you can start by classifying them according to the following categories: In-person service An in-person business will require customers to be physically present at your property for the resident to perform their service. Some examples are a hairstylist, massage therapist, and personal trainer. Rental arbitrage also falls into this category. Digital services A digital business allows the tenant to deliver their product or service online. Some examples are a graphic designer, writer, tax preparation expert, and virtual assistant. Some business consultants, financial planners, wedding planners, tutors, and therapists also offer their services online. Homemade goods A homemade goods business requires the tenant to engage in physical labor to create a product for customers. They may use various materials, tools, and equipment for their job, which they will likely store on-site, in this case, your rental. This category of home-based businesses includes carpenters, chefs, and artists. Naturally, a traditional business with a physical presence will be less discreet and more likely to cause disruption. Customers will enter and leave the premises continuously. Packages will arrive through the mail regularly. Inventory will pile up in and around your property. In short, more things can go wrong. Conversely, a digitally-focused business is more lowkey. It requires little physical equipment besides a computer, and meetings with customers are usually carried out using video conferencing platforms. Online businesses generally pose little risk to you as a property owner. Understand the risks associated with the business Some businesses are inherently riskier than others, so it’s crucial to weigh the costs and benefits of each on a case-by-case basis. Here are some potential risks associated with a home-based business to consider.  Zoning violations Depending on the nature of their operation, your tenant could violate local zoning laws by conducting business on your property. For example, your municipality may forbid companies that produce excessive noise from operating in residential zones. In addition, your renter may have to obtain one or more licenses or permits to engage in their business. If they lack the proper paperwork or break local zoning laws, you, as the owner, could be found liable for their negligence. Disruption to neighbors A home-based business can make life unbearable for your neighbors. For example, your tenant's customers may take up parking spaces, leading to overcrowding. Or your renter may conduct their work long into the night, making excessive noise when everyone else is asleep. These scenarios are more likely to occur in condos, where many residents live close to one another, separated only by thin walls.  Increased exposure to liability Suppose the tenant's customers routinely visit the property. In that case, there's a greater likelihood of someone getting hurt. Should a third party sustain a severe injury, they could sue you as the property owner. Given the elevated risk posed by a home-based business, you could face a hike in your insurance premium. Your insurance company may also deny your claim if the accident relates to the resident's business activity. Safety and privacy issues Safety and privacy could be an issue if your tenant runs a business with heavy foot traffic. Having many customers, vendors, and employees entering the premises could increase the risk of burglary. Your neighbors may share similar security and privacy concerns, primarily if your rental is part of an apartment or condo complex. Potential for property damage A home-based business could increase the chances of damage to your rental. For example, a renter who handles large volumes of inventory may accidentally scratch the floorboards or puncture holes in the walls. Similarly, if your tenant runs a catering business, the risk of a fire breaking out in the kitchen is higher. Your insurance provider may decline to cover the cost of repairs or only do so if you purchase additional coverage for your policy.  Tenant financial problems A business owner is more likely to experience drastic income swings than one with a steady full-time job. They may fall behind on their rent if their business doesn't make money. As a result, your profit margin will suffer. Steps to manage home business risks at your rental Before you allow your renter to operate a business from your rental property, create a plan for dealing with the risks that come with doing so. 1. Address home-based businesses in your lease agreement Set up clear expectations from the beginning of the tenancy by defining the rules around operating a home business in the lease agreement. At the minimum, list the types of businesses you won't permit on your property. Make your decision based on your level of comfort and the amount of risk you're willing to bear. Be sure to extend your ban to business activities that violate local zoning laws, too.  You may also include specific conditions in the lease. For example, you could allow your tenant to meet with their customers online, but disallow in-person visitations to minimize foot traffic and liability risks. You could also restrict the size and scope of the resident’s business. Once their operation grows too large or they hire employees, they must move elsewhere.  Here are some other areas you may want to cover: Displaying advertising on the property Proper storage of inventory and equipment Acceptable noise levels The addition of extra structures to the property, such as a shed Parking for customers 2. Ensure your tenant has the necessary licenses and permits Inform the tenant that they must obtain all the required licenses and permits before starting operations. They must also comply with all local and state ordinances and register their business if needed. Doing so will protect you from fines and possible lawsuits resulting from dangerous and illegal activities on your premises. 3. Get the necessary insurance coverage A resident who is running a business from your property exposes you to more risks. As a result, you or your tenant must have the appropriate insurance policy before any commercial activity begins.  Familiarize yourself with your home or landlord insurance policy to understand the level and scope of your coverage. Look for any gaps that could leave you financially vulnerable. If you need clarification on something, consult with your insurance agent. You may need to add extra coverage to your policy for business-related risks, which may increase your premium. In some cases, your insurance provider may refuse to extend your coverage or not offer the protection you need. As a result, you'll need to switch to a new provider or secure a stand-alone policy elsewhere. Alternatively, you could request that your tenant acquire the necessary insurance coverage. While they may have renter's insurance, this policy doesn’t provide coverage for damages and losses arising from a business. Instead, your tenant should look into purchasing commercial general liability insurance. This type of insurance will protect them against third-party injuries and property damage due to business-related activities. 4. Choose a rent price that accurately reflects your costs Ensure your rent fee is high enough to offset the additional costs of allowing a home-based business on your property. A resident who works from home will consume more energy and other resources than one who regularly commutes to their place of work. As a result, you can expect higher utility bills for electricity, water, and the internet. Also consider the cost of frequent repairs if there is more wear and tear due to a renter’s home business.  Our final thoughts As a landlord, it's up to you to determine what, if any, business you'll allow tenants to conduct from your rental property. Get to know the ins and outs of various home-based businesses and the risks each poses before making your decision. Then, set up clear rules and expectations in your lease regarding business activities. Ensure your tenant complies with all local and state regulations and obtains necessary licenses before starting operations. And request that they have proper insurance coverage in place. Effective risk management is key when giving residents the green light to run a business from your property. Learn how SingleKey's Rent Guarantee can help you reduce these risks and protect your rental income.    --- ### Are Rising Rents Keeping Renters From Moving? [Are Rising Rents Keeping Renters From Moving?](https://www.singlekey.com/en/ownerkey/risk-management/are-rising-rents-keeping-renters-from-moving/) Meta: Early this year, we polled renters on how discouraged they were with the rental market. Learn how rising rents and supply shock affect the rental climate. Date: September 12, 2023 Author: SingleKey Content: The continued demand for rental housing has caused rents to rise, affecting many tenants across the U.S. and Canada. Though rent increases have eased, the relief isn't evenly distributed everywhere. SingleKey asked more than 900 renters if rising rents discouraged them from moving to a new place, and most renters responded that it has. Learn more about what’s behind the rise in rents and how landlords can increase rents sensibly. Are current tenants reluctant to move due to rising rents? SingleKey survey results cited that 80% of renters felt discouraged from moving to a new place due to rising rents. Only 20% of renters responded that they do not feel dissuaded from moving. According to Zillow, the asking price for rent between May and June in the U.S. increased by 0.6%. Vancouver's rental market experienced a 12% increase from the previous year. Toronto's rent prices for a one-bedroom apartment increased by 27% compared to last year. Most of the rental market's prices have risen since 2021. Why are renters reluctant to move?  With a scarce housing supply, expensive housing costs, high property taxes, and mortgage interest rates, more renters are taking a wait-and-see stance before relocating or buying homes, which could be why some renters are reluctant to move. The median rent price growth has caused many renters to stay put in addition to high interest rates. In August 2022, the U.S. inflation rate fell to 8.5%. In August 2023, the U.S. inflation rate hit 3.2%. Canada's inflation rate in August 2022 was 7.6%. Today, Canada's inflation rate is 3.3%. In the U.S., the Federal Reserve's 2% target means the interest rates will remain high. Interest rates will need to be increased to prevail over inflation, so if renters want to purchase homes or get a loan, the rates will be high. These factors contribute to a renter's reluctance to move, especially if they live in an affordable unit governed by rent control laws. What causes mass rental price increases? There is a combination of factors that can cause rents to climb across the U.S. and Canada, including: Demand for housing Population growth High mortgage rates Housing shortage in real estate Unexpected inflation Higher costs for building and maintenance These components combine to drive up rent and keep renters from buying homes. When the economy is beginning to grow, mortgage rates can increase. The thirty-year mortgage rate was raised to 7.09% in August 2023  in the U.S.. In Canada, the national median rent for a one-bedroom in July was $1,833, as reported by Zumper. In the U.S., the median national rent for a one-bedroom in July was $1,506. When can landlords increase the monthly rent? Generally, landlords who oversee fixed terms or month-to-month leases can only increase the rent once per year. However, this rule changes depending on where they manage the rental. Many regions in the U.S. and Canada have annual rent increase limits, with some exceptions to that rule. For instance, property managers can raise the rent substantially if a current tenant moves out, applying the initial rent to charge new prospective tenants. For those considering managing properties in California, learn about the standard rules and unique exceptions regarding rent increase limits. In other places, like Alberta, landlords cannot increase the rent on rental properties during the fixed term. However, once the fixed term expires, there is no limit to how much a landlord can raise the rent on current tenants. As long as landlords follow the federal and local reforms, they can continue raising rent annually. What are other economy-related reasons that cause rents to soar?  When the housing market has a tight supply and mortgage rates increase, this can affect affordable housing in both the rental and housing markets. There’s also inflation to consider, which is a general increase in the price of goods and services. When there is a supply shock, like the oil crisis in the 1970s, or a low housing supply, the demand affects the cost of goods and labor, housing prices go up, and supply and demand affect those managing rental units. If the demand for housing outstrips the supply, maintenance costs increase. Landlords must cover higher living costs, repairs, and property taxes during inflation. Small-time landlords or those managing multiple properties are both affected by inflation. To protect themselves against the effects of inflation, all landlords must ensure the new market rents cover their expenses. During unexpected inflation, a landlord’s expenses increase, and their cash value decreases, so they often strive to break even by raising the rent costs. Learn more about how to raise rents with your tenants. How can landlords attract quality tenants and retain them? Landlords should always screen rental applicants to attract their ideal tenants. A tenant screening report will help landlords verify income sources and collect other background information to ensure their tenants can cover the cost of rent. Screening tenants will paint a big picture of how responsible prospective tenants are in all areas. Learn to screen tenants from the pre-screening to the approval process. FAQ: Are rising rents discouraging renters from moving to a new place? Is there a rent crisis? Many states in the U.S. have experienced an affordable housing crisis for years. While rent costs and housing prices have risen, August has shown promise for those wanting steady rents. What is the average rent increase annually? As reported by Zumper, the U.S. national median for one-bedroom apartments is up 3.9 percent year-over-year. In Canada, the national median rent for a one-bedroom in July was $1,833. How does tenant screening help landlords attract quality tenants? By screening rental applicants, landlords can verify all the information the prospective tenant included on their application, including their income, rental history, financial history, and if they exhibited disruptive behavior in the past. Learn more on how tenant screening services can help landlords secure good tenants. Our final thoughts It’s important for landlords to foster their relationships with their tenants, especially as more and more renters decide to stay put in their current homes. Learn more about building great tenant-landlord relationships so you can ensure your tenant is happy and cares for the property as if it were their own. --- ### What Influences a Tenant’s Trust in a Landlord? [What Influences a Tenant’s Trust in a Landlord?](https://www.singlekey.com/en/ownerkey/risk-management/what-influences-a-tenants-trust-in-a-landlord/) Meta: Building trust with your tenant is essential to maintaining a healthy landlord-tenant relationship throughout the tenancy. Be ethical and responsive. Date: September 8, 2023 Author: SingleKey Content: What affects a tenant's trust in a landlord? SingleKey surveyed over 900 tenants to learn what they value most from a tenant-landlord relationship and what actions affect their trust in a landlord the most. Establishing a healthy relationship with your tenant from the start will make the task of property management a lot simpler. Find out how a landlord can build trust with their tenant. Survey findings: building trust with a tenant After polling hundreds of tenants, we discovered a landlord’s communication and responsiveness, or lack thereof, influenced a tenant's trust the most. What influences tenants' opinions about landlords In a SingleKey survey, 38% of tenants felt that a landlord's ability to be responsive and communicative had the most significant impact on their outlook. The cost of rent came in second at 35%. Only 11% of tenants were concerned with a landlord's reputation. Upkeep of a rental influenced the opinion of their landlord for 8% of tenants. For another 8% of tenants, the integrity of a landlord affected their trust in them. Tenant communication guidelines in the lease agreement It's easy to understand why a tenant would lose faith in a landlord if they were unresponsive to complaints or if they were to disregard the agreed-upon rental terms. Managing your tenant's expectations from the beginning will help minimize many problems. Here are essential tips to help landlords create clear lines of communication: Be transparent in the lease terms Notify the tenant of rental history, repairs, and previous infestations Respond to the tenant in a timely manner Be prompt in scheduling repairs Provide advance notice to alert the tenant to property inspections or repairs A move-in inspection is standard with any lease. When you perform a move-in inspection, you document any pre-existing damages to the rental unit or investment property. If additional property damage caused by the tenant is discovered during the move-out inspection, the landlord can make deductions for damages from the security deposit. Occasionally, landlords can schedule inspections during the tenancy. Landlords should discuss these terms with the tenant and document the inventory of property damages in writing. This way, when it's time to assess the property at the end of the lease, you can prevent disputes if you need to deduct from a tenant's security deposit. Most successful landlords are fully transparent in their terms. The rental agreement should list the following information: Lease terms Address of rental property Late fees for delinquent rent The repercussions of nonpayment of rent Security deposit funds The notice requirement for inspections or repairs The rent payment amount and due date If you live in Canada, download an editable lease agreement template specific to your province. For those living in the U.S., you can also find state-specific rental agreements here. Cost of rent on a rental property The cost of rent is the second most important aspect for 35% of tenants. Many landlords develop a bad reputation because they charge late fees on delinquent rent without itemizing the receipt or implementing the maximum rent increase on tenants. Despite the landlord's best intentions and efforts, a tenant-landlord relationship can easily turn into a negative experience during the tenancy. To avoid this, the landlord must be clear with the rental terms and expectations, including late fees and when they apply. There are times when maximum rent increases may be necessary for landlords, especially in tough economic times. If the economy experiences unexpected inflation, for example, the landlord can suffer. Inflation reduces the value of money, and if the demand for labor and maintenance is on the rise, it increases the cost of supplies and labor. The landlord will need to factor these considerations in when applying rent increases. Communicate with your tenant so they understand your financial position and won't presume your actions are a case of price gouging. A solution to streamlining the rent collection process is to automate it. This makes collecting rent more convenient and helps build trust between you and the tenant. With automated rent collection, property managers can reduce nonpayment of rent and late payments. SingleKey offers a free Rent Collection service and will report rent payments to the credit bureau to incentivize on-time payments. Additionally, this feature helps build the tenant's credit score when they make timely payments. Landlords should avoid cash deals and put everything in writing. Offer tenants digital and itemized receipts. Always follow local and state laws before applying rent increases. Many Canadian provinces have annual rent increase caps. For example, Ontario’s rent is capped at 2.5% per year due to the Residential Tenancies Act. Each U.S. state has different rent increase limits as well. In Texas, only cities can create rent control ordinances in specific circumstances. There are no statewide laws that limit a rent increase. The three ways to build and maintain a good landlord-tenant relationship include: Screening potential tenants Being easily accessible Offering flexible payment options Landlord tips for protecting your reputation A landlord's reputation is only important to 11% of tenants. Still, a good reputation can help you secure great tenants. Protecting your reputation as a landlord isn't always foolproof, but there are steps you can take to avoid damaging your image and attract good tenants. First, be forthcoming with your expectations. Always be professional and cordial, but ensure your tenants know what to expect regarding due dates, inspections, repairs, late fees, rental property history, and the lease term. If you’re upfront in the beginning, the rest is just maintenance. Secondly, be responsive to your tenant's requests or messages. Being a landlord is a real job. Your renters are your customers and temporary stewards of your investment property. If they alert you to an incident or issue, respond to them as soon as possible. Lastly, monitor and manage online reviews. If you are guilty of an online complaint, consider it a lesson to become a better landlord and respond professionally to all good and bad reviews. Upkeep of the rental property While only 8% of tenants voted on the upkeep of their rental unit as an influencing factor, not practicing routine maintenance might be a deal breaker for some tenants. Upkeep can include checking smoke detectors, landscaping, seasonal maintenance, exterior cleaning for pools and gutters, and pest control. Maintaining the rental property's interior and exterior is essential for attracting great prospective tenants. Having integrity in the rental market While integrity, flexibility, and understanding ranked at only 8%, it's a critical practice and goes hand in hand with communication. Being a landlord with integrity means that the tenant will trust that you’re honest, reliable, and will not make unnecessary demands. Here’s how landlords can ensure they remain ethical while operating an efficient property management business: Schedule timely repairs and respond promptly to issues Have open communication around rent increases and changes to renewed lease terms Give advance notice when conducting routine maintenance checks Give tenants reasonable time to make late payments FAQ: How can landlords build trust with tenants? How do landlords establish trust with their tenants? Most contentious tenant-landlord relationships stem from poor communication or misunderstandings. Having clear communication with your tenant is key. Be transparent about your expectations and the history of the rental unit. If you set the rules at the beginning before the lease is signed and promptly respond to your tenant’s requests, you’ll gain the trust of your tenant. Refrain from showing up unannounced. How can I protect my reputation as a landlord? There are concrete ways to build your reputation as a landlord and keep your tenants in your favor. Before you draft your lease agreement, be upfront about your expectations. Include clear terms in your lease agreement and make any repairs to the rental before the tenant moves in. You can cultivate a good relationship with your tenant by being kind, responsive, and giving advance notice before inspections or repairs are made to the property. If a tenant complains about you on an online tenant review, address the remarks professionally, improve upon your mistakes, and do better in the future. Approving reliable and ethical tenants should be the first step in protecting your reputation, property, and rental income. You can get a clear picture of your prospective renter by pulling an accurate, untampered tenant report. What makes a successful landlord? Successful landlords are competent, consistent, have integrity, and are considerate of their tenants. Landlords must understand and practice their state or province’s fair housing and tenancy laws. Ensure you are clear on your expectations before giving the applicant a rental application. Building trust can be easy when you follow these landlord tips: Ensure you are within the allotted amount for any applicable application fees. Be responsive to tenants, whether they contact you on business days or over the weekend. Read up on all landlord-tenant laws. Always document actual damages to the property and provide tenants with an itemized list of deductions. Notify the tenant of any fees charged due to late rental payments. Conduct routine upkeep, like making sure the automatic smoke alarm works and performing regular pest control. Let your tenant know that their personal property is not insured under your landlord insurance policy. If there is normal wear to the property, consider covering the fee to repair it, like repainting exterior doors, etc. Warn tenants that consistently missing rent payments can lead to eviction. A property owner should give tenants proper notice before coming to the rental property. Maintain the standards of applicable housing codes and provide reasonable notice of termination on a month-to-month residential lease on dwelling units. Our final thoughts Attracting and retaining quality tenants who protect your rental and pay rent on time will help good landlords maintain their reputation and make the job of managing a property easier. With SingleKey, you can access Tenant Reports, solutions to protect your rental income, and valuable resources to guide you through the rental process. --- ### Comparing Canadian-Provided Rent Guarantee Programs [Comparing Canadian-Provided Rent Guarantee Programs](https://www.singlekey.com/en/rent-guarantee/comparing-canadian-provided-rent-guarantee-programs/) Meta: Discover the best rent guarantee program providing the best coverage and services with no additional hidden fees in this comparison of Canadian providers. Date: September 5, 2023 Author: SingleKey Content: All tenants are susceptible to unexpected financial strains, sometimes making them delinquent on their rent. When a good tenant falls on hard times, this can present a problem for property owners who count on their rental income to pay the mortgage. A rent guarantee program will help reduce the risks associated with renting your property, such as when a tenant stops paying rent or prematurely ends their lease. Comparing rent guarantee providers for landlords in Canada Choosing a rent guarantee program that fits your needs is essential to ensure your success as a landlord. Here's a side-by-side comparison of rent guarantee programs provided by SingleKey and its competitors. A closer look at rent guarantee providers in Canada Rent guarantee programs offer valuable coverage for landlords. Here’s a closer look at each rent guarantee provider in Canada.  SingleKey SingleKey protects landlords against the inherent perils of renting. Our services include Tenant Reports, Rent Collection, and Rent Guarantee. Here’s how SingleKey's Rent Guarantee Program works:  Rental income guarantee: In the event of a delinquency, SingleKey will cover up to 12 months of rent (up to $60,000). Lease break protection: Guaranteed 30 days of rent paid if your tenant leaves without notice. Property damage protection: For tenant-caused damages, whether malicious or negligent, get up to $10,000 CAD reimbursed by SingleKey. Legal support and eviction resolution: Our paralegal team will handle everything when eviction is necessary, and legal fees are included up to $1,500 CAD. Automated rent collection: Set up automated monthly payments with your tenants. As a bonus, we report all rental payments to the credit bureau, which incentivizes on-time payments and helps build tenants' credit scores. Tenantcube Tenantcube aids the rental process by offering credit reports, rent collection, and a rent guarantee program. Here's what Tenantcube's rent guarantee program offers: Rental income guarantee: Guaranteed rental income for up to 12 months or $60,000 per lease. Lease break protection: Tentantcube does not cover costs for lease breaks. Property damage protection: Up to $10,000 is reimbursed for repairs of tenant-caused malicious damages (vandalism or malicious mischief). Eviction support: Pays up to $1,500 to reimburse for eviction legal fees. Automated rent collection: Automatically collects the rent. Tenantcube does not incentivize payment by reporting to the credit bureau. Buttonwood Property Management Buttonwood offers residential property management, residential property rental, and commercial and rental property management. Here's a breakdown of their rent guarantee program and how it compares with other programs:  Rental income guarantee: Will compensate for monthly rent payments for up to six months. Lease break protection: Lease breaks are not covered. Property damage protection: Property damage is not covered. Eviction support: Eviction costs are covered if the landlord-tenant agreement is not resolved through mediation. Rent collection: Collects monthly rent payments. Does not incentivize payment by reporting to the credit bureau. Royal York Property Management Royal York Property Management manages properties by providing services to landlords and tenants, including screening, rental income guarantee, property damage protection, and eviction guidance. Here’s what they offer in their rent guarantee program:  Rental income guarantee: The rental income guarantee includes 12 months of rental compensation. Lease break protection: Does not cover costs on lease breaks. Property damage protection: Covers up to $30,000 in property damage due to tenant’s negligence. Eviction support: Royal York Property Management will advise on eviction procedures. Rent collection: Rental income is deposited into the landlord’s bank account every month. Rentatee Rentatee manages properties and coordinates maintenance needs. Here’s what you'll get from their rent guarantee program:  Rental income guarantee: Their service covers rental income up to $60,000. Lease break protection: One month's rent is covered for an abandoned tenancy. Property damage protection: Their property protection service covers damages up to $10,000.  Eviction support: Rentatee covers up to $1,500 in eviction and legal coverage.  Rent collection: Rent collection is included as a service.  How rent guarantee programs help residential landlords SingleKey's Rent Guarantee Program protects a landlord’s rental income. When a tenant stops paying rent, it can cause a ripple effect that can negatively impact a property owner's time and finances. The benefits of a rent guarantee program are the protection it offers landlords, including: Unpaid rent reimbursement Property damage protection Financial protection when tenants break their lease Legal support and limited legal fee coverage through the eviction process Unpaid rent reimbursement SingleKey's Rent Guarantee Program covers up to 12 months of rent (a maximum of $60,000). Eligible homeowners can participate in the program by committing 5 percent of their monthly rent (paid annually).  Once you know the tenant can't pay their rent, always try to end the tenancy amicably. Eviction can be an arduous, drawn-out process. Ask them if they would like to break the fixed-term lease earlier with your permission.  Property damage protection If a tenant causes property damage, landlords can notify SingleKey. Under our property damage protection, landlords will be reimbursed up to $10,000 for damages caused by a tenant. Financial protection when tenants break their lease Property owners will have peace of mind that they can access financial protection with the Rent Guarantee Program if a tenant breaks the terms of their lease. SingleKey provides 30 days of rent guarantee in this case. Legal coverage through the eviction process Eviction is usually the last resort. When you're owed several months of rental payments and are responsible for making mortgage payments, expenses can start adding up. The average eviction costs can amount to thousands of dollars, depending on your province. As reported by the Vancouver Sun, evictions are estimated at 10.5 percent in B.C., 6.1 percent in Ontario, 4.8 percent in Quebec, and 3.1 percent in Alberta over five years. SingleKey will cover up to $1,500 in legal costs related to an eviction and have their paralegal team guide you through the process. What makes SingleKey’s Rent Guarantee Program stand out Transparent fees  SingleKey is transparent about its fees and services. What you see is what you get. Outsourcing property management services usually comes with a hefty price tag, but with our Rent Guarantee Program, you only pay 5 percent of your monthly rental income.  The most comprehensive rental protection SingleKey guarantees a rental income for 12 months if your tenant is delinquent. Alternatively, many programs will only cover six months of payments. The program also includes extensive Tenant Screening and Rent Automation services: Tenant Report: Our report goes beyond a simple credit score. We provide the big picture on tenants so landlords can make educated decisions, and there are no surprises regarding how reliable a tenant will be. Rent Collection: Easily automate the collection of your tenant's rent. We also report the monthly payment to help tenants build credit and encourage them to make timely payments. Backed by a global reinsurer and powered by experience   Founded in 2017 by innovative and experienced professionals, SingleKey is supported by an established global reinsurer and is Canada’s first Rent Guarantee provider. We understand the liabilities landlords face every day and have crafted the program from the ground up while actively managing rental risks through the COVID-19 pandemic. SingleKey also has access to a legal team to walk landlords through the daunting eviction process. We'll handle everything from start to finish. FAQ: What is a rent guarantee program? What does a rent guarantee program include? If a tenant misses a rent payment, falls so behind on rent with no way of catching up, or refuses to move and needs to be evicted, a rent guarantee program can come to a landlord’s rescue by guaranteeing up to 12 months rent, paying for some eviction costs, and even paying for property damage caused by the tenant. Does SingleKey offer a rent guarantee program? Yes. SingleKey has one of the most comprehensive rent guarantee programs available. Property owners will have guaranteed rental income for up to 12 months, coverage for property damage caused by a tenant, eviction support, and some compensation for eviction legal fees.  What is SingleKey’s fee for their Rent Guarantee Program? We have no hidden fees. The program fee is 5 percent of the monthly rent, charged annually. The cost is 5.5 percent of the monthly rent if you pay monthly for the program. We can charge your credit card or deduct the fee when we process your monthly rent payments.  Our final thoughts SingleKey's approach to mitigating risks associated with renting properties is backed by years of experience. Not only do we have the most comprehensive rent guarantee program, but we also help property owners find their ideal tenants. Our full-service offerings include: Screening tenants with Tenant Reports Offering rent automation Guaranteeing rental income Mitigating financial risk Facilitating the legal process of eviction Giving financial support when a tenant damages your property --- ### How Much Do You Really Need in Your Rental Property Reserves? [How Much Do You Really Need in Your Rental Property Reserves?](https://www.singlekey.com/en/ownerkey/risk-management/how-much-do-you-really-need-in-your-rental-property-reserves/) Meta: Here's how property owners can decide how much to put in a rental property reserve fund and how to ensure their fund never runs dry. Date: September 4, 2023 Author: Mark Gregorski Content: As a landlord, you'll inevitably have to deal with steep expenses, whether planned or unplanned. Major repairs, large-scale renovations, lengthy evictions, and prolonged vacancies are some costs you may encounter while managing a rental property.With the help of a reserve fund, you can survive these financial storms and continue business as usual.In this guide, we'll explore how a reserve fund can help your rental business stay afloat—even when you’re hit with an unexpected expense. We'll also show you how to decide how much money to set aside and provide tips for ensuring your fund never runs dry.Rental reserves: Rules of thumbA reserve fund, sometimes called an emergency fund, is a pool of money intended to cover significant expenditures, irregular expenses, and unforeseen costs. A general rule of thumb is to keep a minimum of four to five months of rent payments in reserve funds. If you're a new landlord, building a reserve of six or more months for operating costs, like mortgage, insurance, taxes, and utilities, is ideal.From here, you can adjust how much you ultimately save based on your property type and age, your risk tolerance, and other factors described in this article.What is a rental property reserve fund used for?Here are examples of the most common uses for cash reserves. Emergency repairs When a critical item in your rental suddenly breaks down, you’ll have no choice but to attend to the issue immediately, regardless of the cost. Some examples of urgent repairs include a burst pipe, leaky roof, electrical malfunction, sewer backup, and faulty appliances. Capital expenditures A capital expenditure is a major upgrade or renovation that increases the value of your property and extends its lifespan. Examples include:Replacing the roof.Installing new windows.Purchasing appliances with smart technology.Enhancing the kitchen with high-end cabinets and countertops.A reserve fund can help you fund such projects, as they generally require a substantial cash infusion. Vacancy Coverage It’s unrealistic to assume that your rental will remain occupied year-round. Your current tenant may leave early without giving you proper notice. Or demand for rentals in your area may drop, and your property could sit empty for a month, resulting in lost income. During high vacancy periods, your reserve fund can serve as a financial cushion by covering your ongoing expenses, such as mortgage payments, insurance, property taxes, and utilities. Tenant-Related Expenses A wide range of costs are associated with finding a suitable tenant. These include advertising expenses, credit and background check fees, lease agreement paperwork, tidying up the unit between tenancies, and replacing door locks. You may also face considerable out-of-pocket costs to repair damages caused by a prior tenant. Property Maintenance Most maintenance tasks are routine and predictable, but some are not. For example, let’s assume you purchase a few new appliances for your unit. They won’t give you much trouble for many years, but eventually, you’ll need to repair or replace them. Seasonal and irregular expenses like landscaping, snow removal, painting, attic vent cleaning, and HVAC maintenance are also crucial for keeping your property in good condition. In such instances, the cash in your reserve fund will come in handy. Extraordinary circumstances Extreme or unusual scenarios can occur out of the blue, possibly costing you a small fortune. Disasters like earthquakes, wildfires, riots, and infestations can lead to severe damage to your property, leaving you to foot the repair bills. Depending on the scope of your landlord insurance policy, you may lack coverage against such risks. A reserve fund can help cover any shortfall or, at the minimum, lessen the financial damage. Legal and Compliance Costs As a landlord, getting embroiled in a legal dispute with a tenant is always possible. Evictions, in particular, can drag on for months, leading to multiple months of lost rent. You may also face fines from local regulators if you violate local tenancy laws or building codes. For these reasons, allocating funds to cover legal fees and compliance costs is a wise move. Insurance Deductibles The right insurance policy for your rental property business can spare you from a financial disaster, but you’re still responsible for paying the deductible when filing a claim. In some cases, these can cost you thousands of dollars. Having funds in reserve will ensure you’re not left scrambling for cash when paying for this non-negotiable expense. Key considerations for building a reserve fundPutting together a reserve fund requires some careful foresight and planning. Here are the key factors to consider before you begin stashing away money for those rainy days.Property typeThe amount you should keep in your reserve fund will depend on your property type.A single-family home requires extensive upkeep, repairs, and renovation work. It has more rooms and amenities to care for, so more things will need fixing or periodic upgrades. There's a lot of exterior maintenance that you'll be responsible for as well, including the roof, siding, patio, deck, and landscaping. Therefore, if you own a detached home, you'll need a large reserve fund. In comparison, you can get by with a relatively small reserve fund for a condo. Condos are typically much smaller than family homes, with fewer rooms and amenities and no basement or attic. You also don't need to attend to landscaping duties or maintain the building's exterior components, though you may encounter special assessments.Mac’s Pro Tip: A special assessment is the sum a condo corporation charges owners if it doesn’t have enough to cover expenses related to the building's common property.Age and condition of the propertyNot surprisingly, an older property will need far more in the way of repairs and maintenance than a newer one.You can anticipate spending more money repainting walls, replacing hazardous electrical wiring, unclogging drains, patching up holes in walls, and replacing damaged windows. Older homes are also more likely to have outdated décor, furnishings, and appliances. As a result, you may need to do some remodeling to ensure it can attract renters.However, there is one exception: Suppose the previous owner did extensive repairs and renovations before you purchased the home. In that case, it's okay to maintain a smaller fund, as you won't need to invest as much time and money in the property initially.With a newer home, it'll be many years before it requires an extensive overhaul or costly repair work. The appliances, light fixtures, flooring, and other features should already reflect current trends and styles.Mac’s Pro Tip: For older properties, consider keeping 6 to 8 percent of the monthly rent in your emergency fund. For newer properties, a minimum of 2 percent of the monthly rent should be put aside.Personal risk toleranceIf the thought of emptying your bank account overnight to cover an emergency repair makes you feel uneasy, then you'd be better off keeping a large sum of money in reserve.Being risk-averse will also influence how you manage your rental business. You may be more selective with who you choose as your tenant. As a result, your property could remain vacant longer, resulting in more lost rental income. For this reason, it would be sensible to have a larger reserve fund.On the other hand, if you're comfortable taking on more risk, a modest reserve fund will work fine. You can allocate more of your profit elsewhere, such as a down payment for a new rental property.Mac’s Pro Tip: Never rely solely on credit cards and lines of credit to function as your reserve fund. You’ll be charged high interest rates, and your lender can restrict the amount you can borrow.Experience as a landlordSuppose you're a newcomer to the rental industry. In that case, you'll want to have a larger pool of money sitting in your reserve fund for the following reasons:It'll take longer to fill a vacancy, as you'll spend more time screening tenants or repairing your property to make it suitable for occupancy.You're more likely to make financial blunders, such as overpaying for repairs or remodeling work.You lack the skills and knowledge to effectively manage the risks of owning a rental property, which could include dealing with troublesome tenants or having the proper insurance coverage.In addition, as a new landlord, you're likely starting with only one or two rental units. As a result, any sizable financial commitment will have a significant negative impact on your profit since each property you own represents a massive slice of your business. Therefore, at this stage, you should focus on increasing your reserve fund to decrease your overall risk.On the other hand, more experienced landlords who own dozens of properties can diversify their risk. If one unit incurs a steep expense, it's not a big deal, because rental income from the other will offset the loss. In addition, a professional property owner will likely commit fewer mistakes in running their business and feel more confident in getting by with a modest reserve fund.Mac’s Pro Tip: If you're a new landlord, aim to build a reserve that can cover a minimum of six months' rent payments. As you gain experience, you'll feel more at ease with a smaller reserve fund.Market demandThe state of the economy (both local and national) affects demand for rental properties, which, in turn, impacts vacancy rates.During a recession, people are more inclined to rent than commit to buying a home. This situation results in shorter vacancies, so you won't need to dip into your reserve fund too often as you'll enjoy a steady rental income.On the flip side, if the economy is booming, more people are willing to purchase a home, which means it'll take longer to find a tenant. As a result, you're more likely to tap into reserves to cover your monthly operating costs as your unit sits empty.Regarding seasonality, more people tend to move out in the summertime, so you'll have more potential tenants to select from if you're looking to fill a vacancy. During the fall and winter, renters usually prefer to stay put, so getting a tenant could take longer. Of course, rental vacancy rates will also vary by location. Be sure to check rates across Canada and the United States.Mac’s Pro Tip: Screen applicants carefully, even if your unit remains empty for a while. To prepare for this scenario, have enough cash reserves to cover at least a two-month vacancy.Tips to build your rental property reservesMaintain your funds in a separate account. Keep your cash reserves in a bank account that’s different from the one used for day-to-day operations. That way, you'll avoid applying the money toward regular expenses. To ensure your reserve fund is easily accessible and well-preserved, invest the cash only in low-risk assets like a high-interest savings account or cashable guaranteed investment certificate (GIC).Make regular contributions. To build a healthy reserve fund quickly, commit to making regular deposits. A good pace is once per month after you receive rent from your tenants. You can increase or decrease the size of your contributions as needed, but staying consistent is the key.Regularly inspect your property to determine its needs. Try to do an onsite inspection of your property at least twice a year. By doing so, you can identify areas that need extensive repair work or significant remodeling ahead of time and calculate the cost. You can then determine whether your fund has ample cash reserves to cover the anticipated expenses. Use your reserve fund wisely. Avoid using the money in your reserve fund for routine expenses like cleaning costs, office expenses, minor repairs, utility bills, and property management fees. This habit can quickly deplete your reserves and leave you scrambling for cash when something unexpected happens. Review your fund’s status on a regular basis. Review your reserve fund at least once yearly to determine whether it contains enough money to meet your anticipated needs over the next several years. Always set aside a little extra for unexpected expenses, too. A general rule is to dedicate 80 percent of the fund to predictable costs and 20 percent to unplanned expenses.Seek professional financial advice when needed. If number crunching isn't your forte, consult an accountant or financial planner to help establish a strategy for your reserve fund. Ideally, the financial professional you work with will have direct experience with rental properties or understand the industry well enough to provide genuine and helpful advice tailored to you as a landlord.Our final thoughtsAs a property owner, your day-to-day expenses are steady and predictable—until they're not. Eventually, you'll need to contend with significant and unforeseen costs, whether it’s an emergency repair bill, hefty insurance deductible, or extended vacancy. But with a reserve fund by your side, you'll have the financial firepower to cover them and keep your rental business thriving.  A good rule of thumb is to earmark 6 to 8 percent of your monthly rent for your reserve fund. From there, you can adjust this figure based on factors like the age and condition of your property, the amount of risk you're willing to assume, and your overall experience and knowledge as a landlord. Be consistent in depositing money in your reserve fund and review it periodically to ensure it's large enough to meet your ongoing needs. SingleKey's Rent Guarantee can play a role in your reserve fund strategy to help you reduce the financial risks of renting. Learn more about protecting your rental income if you experience unexpected financial bumps in your rental journey. --- ### Economic Uncertainty Could Raise Concerns for Landlords [Economic Uncertainty Could Raise Concerns for Landlords](https://www.singlekey.com/en/ownerkey/risk-management/economic-uncertainty-could-raise-concerns-for-landlords/) Meta: If an economic downturn is looming, there are ways property managers can prepare and protect their rental income with tenant screening and rent increases. Date: August 25, 2023 Author: SingleKey Content: When there is an economic collapse or recession, it affects businesses, people's livelihoods, homeowners, and renters. We polled more than 900 renters to see how concerned they are that an economic downturn could affect their living situation.While the economy has outperformed some warnings of economic trouble, this is still a significant concern for many tenants and property owners. We'll cite the survey results and explore how landlords can prepare for a declining economy and secure their rental income.Survey results: How many concerned renters votedDuring the summer of 2023, SingleKey surveyed 903 tenants on whether they were concerned that an economic downturn would affect their living situation. Of the tenants who responded, 70% indicated that they were worried. The remaining 30% of renters were unconcerned with the probability of a recession.A declining economy is considered a recession. A profound decline with no end in sight is a depression. The Great Depression of 1929 and the 2007-2008 Great Recession became worldwide events with cascading effects impacting income inequality, unemployment, interest rates, the housing and rental markets.During the COVID-19 pandemic, there was a mass freeze on evictions. And while Canada and the U.S. experienced brief economic downturns, each country managed to avoid a full-fledged recession. However, the demand for housing increased, rent increased, and the inflation rate spike persisted. In retrospect, it's easy to see why so many renters are concerned with an economic downturn affecting their living situation.How a declining economy can affect rental propertiesThe housing and rental market play a significant role in the U.S. economy. In late 2022, economists predicted that unemployment would rise and the economy would collapse. The inflation rate spiked to 8%, and the average inflation in the last decade was 2%. Investors sought high-yield savings bonds and accounts to protect them against inflation. There was a mass layoff in tech and in manufacturing, where signs of a recession historically start.Despite the forecasts, unemployment remains steady in August 2023. The predictions from earlier this year have yet to come true, and the U.S. economy is doing surprisingly well. Forecasting the economy can be tricky. While signs may indicate that an economy is declining, it could actually be growing. Remember that financial experts have stated that we don't usually know when we're in a recession until we're out of it.Signs of tough economic times: Unemployment is rising, causing wage stagnationDecreased consumer spending, rate drops, and deflationUnyielding high-interest ratesHistorical events that prompted recessions:The 1973 oil crisis helped cause the 1975 global recessionThe 1982 recession was caused by mounting inflation2008-09 Global Financial Crisis and RecessionCOVID-19 caused an economic downturn that lasted two months in the U.S.COVID-19 caused a three-month downturn in CanadaDuring the housing market bubble before 2007, employment was high in construction. When the bubble burst, employment fell almost 50%.At the peak of the COVID-19 pandemic, droves of people began working remotely and looking for larger homes, leaving major cities to find more affordable options. This event increased the demand for housing and the cost of supplies and labor, setting a higher market rate.As a result, home prices and mortgage rates increased. This outcome has forced many people to rent and opt out of a mortgage payment. The percentage of renter households is higher than more than a decade ago.This trend of average rent prices rising in the previous two years has been due to the demand for housing, the need for more labor, and the cost of labor increases. This ripple in rental markets can force many landlords to reevaluate how much they can afford to charge renters. When a landlord collects monthly rent, the cash value won’t be worth as much with unexpected inflation. Every landlord should understand the laws on rent increases to protect their cash value.The housing and rental market greatly influences inflation. Some people benefit from unexpected inflation when they have fixed rates; however, inflation can negatively impact landlords.How property managers can protect themselves Property managers can protect themselves in uncertain economic times by planning ahead. Here are some steps every landlord should take to protect an investment property:Tenant screening: Screening tenants will help landlords find the best applicants and minimize nonpayment of rent.Securing fixed mortgages: A low, fixed-rate mortgage will benefit property owners when unexpected inflation hits.Fiscal stimulus programs: Finding financial resources can help small-time landlords and business owners.During the COVID-19 pandemic, the CARES Act passed by the federal government was the most significant expenditure benefitting American taxpayers and helping increase household resilience. The Emergency Rental Assistance Program (ERA) provided communities with relief to prevent housing instability. Among other relief packages, Canada's one-time top-up to the Canadian Housing Benefit helped low-income earners secure their housing and pay rent on time on their rental units. Learning about the financial health of prospective tenantsWith a SingleKey Tenant Report, landlords will learn if an applicant was consistently delinquent on monthly rent, the health of their credit history and credit scores, and if they have a criminal history with disruptive behavior. Screening tenants properly is essential in finding a renter who is responsible in every way. Learn about some of the biggest concerns landlords have when screening prospective tenants. FAQ: How landlords can stay afloat during an economic crisis Why is cash flow so essential for landlords? Positive cash flow means you are making a profit. Assessing your rental property’s cash flow will help determine the average income from your rental property and help you make a profit. What happens to rental properties during a recession? There are pros and cons for rental property owners. The rental market can do well if more people can’t find affordable homes and must rent. Some landlords may suffer if they have adjustable-rate mortgages and interest rates go up dramatically or their renter can no longer afford rent due to unemployment and wage stagnation. Is being a landlord recession-proof? The short answer is no. If a landlord has good tenants, good financial standing, a low fixed mortgage rate, or a paid-off mortgage, they would likely survive a recession. Our final thoughtsLandlords should prepare for economic lows by implementing a SingleKey Tenant Report into their screening process and begin making a financial plan to secure their rental income through legal annual rent increases and finding ideal tenants. --- ### Should Your Tenant Get Renters Insurance? [Should Your Tenant Get Renters Insurance?](https://www.singlekey.com/en/ownerkey/risk-management/should-your-tenant-get-renters-insurance/) Meta: Asking your tenant to get renters insurance will protect them and protect you and your rental property. Most tenant insurance is inexpensive and worth having. Date: August 24, 2023 Author: SingleKey Content: Should your tenant get renters insurance? The answer is a resounding yes. When your tenant has insurance, it benefits you and your tenant. If a fire or natural disaster occurs, your tenant's insurance can cover all relocation and additional living expenses. Plus, their insurance can compensate for damaged or stolen property up to their policy limit.Most landlords perceive tenants with renters insurance as safer bets. We'll explore why most tenants get insurance and why landlords should encourage their tenants to have it.Renters insurance coverage: Does your tenant have it?SingleKey asked 945 renters if they had renters insurance, and 80% said they did, while only 20% remained uninsured. Many renters misjudge how valuable their belongings are, and when theft or fires occur, everything damaged or stolen is gone, leaving the tenant to rebuild what was lost. With renters insurance, a tenant can feel some consolation that they can rebuild or afford to compensate for their belongings. While this type of insurance benefits renters the most, there are perks for landlords as well. For instance, landlords can avoid liability claims brought on by tenants due to property damage, like accidental damage caused by cooking fires. If a tenant is insured, the tenant will file a claim, depending on their coverage. During the screening process, landlords can rest assured that if a tenant's instinct is to obtain renters insurance on their own, it's very likely that they will be reliable renters. Landlord insurance compared to renters insurance policiesLandlord insurance policies have different coverages in comparison to renters insurance policies. Let’s take a look at what each type of policy covers and the benefits to landlords and tenants.Landlord insurance pros and cons  Landlord insurance generally covers structural damage to the property and the landlord’s personal belongings stored at the rental property. It does not cover damages to the tenant’s possessions. Landlord insurance will cover: Property coverage or dwelling protection: Protects your rental property structure that tenants occupy. Liability coverage: Covers medical expenses for injuries if somebody gets hurt on your property.  Rental income coverage: Aids in paying your rental income if your rental becomes unlivable due to covered loss and your tenants have to move out. Tenant insurance pros and cons Tenants aren’t legally required to be insured, but landlords and co-ops may require tenant insurance to protect the building or unit. Renters insurance can cover the tenant's personal belongings in the event of theft or damage inside the property, but it doesn’t cover stolen vehicles. It may cover items stolen within the vehicle up to the policy limits. There are different types of coverage, and while protecting personal belongings may seem unnecessary initially, it could come in handy one day if a tenant’s bike or work computer gets stolen. While the insurance may not replace what was stolen, it would be able to provide the actual cash value of the item in question. Many tenants are surprised by how much insurance coverage is available for renters. And the cost of renters insurance rarely exceeds $300 annually. Insurance is relatively inexpensive, depending on environmental factors. It will also offer tenants and landlords peace of mind. Tenant insurance covers:Personal property: Insurance will cover costs of repairs or replacement of your personal effects, including furniture, computers, clothes, heirlooms, art, or any specific items listed in a policy.Additional living expenses: Hotel accommodations and groceries if the rental is unlivable.Liability: If your tenants get liability coverage, their insurance company will cover the medical bills of anyone injured on the rental property. Tenants should ask the insurance company which medical expenses are applicable. Some of the liability coverage (up to the policy’s limits) include:Accidental tenant-inflicted floodingWater backup by way of sewers and drainsPet damage caused by a tenant’s petSome fire damage to property structure**Not all liability coverage covers fire damage to structures caused by tenants. Tenants and landlords alike should read through all of the literature on their policies and confirm with their insurance agent what is covered. Renters insurance generally doesn’t cover structural damage to the property. That’s where landlord insurance kicks in.Can I ask my tenant to pay insurance premiums?Yes, you can encourage your tenant to get insurance; however, you can not evict them if you ask them during their tenancy and they refuse to get it. Landlords can ask prospective tenants to review different renter's policies before the move-in date. Making this step a part of the screening and approval process is essential. Some landlords request tenants to have extensive renters policies that include personal property, liability, and additional living expenses. The ideal time to ask your prospective tenant to get renters insurance is:During the application processIn the lease termsDuring the tenancy as a stipulation if the renter decides to get a petAnalysis of renters insurance, premiums, and deductiblesTenants should shop around for rates from different insurers. Ideally, they’ll want a comprehensive plan at a low rate. Monthly and annual rates will vary depending on which state your rental is based. For example, in Wisconsin, the average monthly rate is as low as $8 for $15,000 of property coverage, while in Louisiana, the average monthly rate is $25. The wide range of premiums is due to the fact that property crime in Louisiana is high, and in Wisconsin, it’s low. Wisconsin is at low risk for property theft and natural disaster. Because of Louisiana’s proximity to the Gulf of Mexico, it is at high risk for hurricanes and flooding. These contributing factors affect the cost of insurance. Tenants should consider these factors when shopping for renters insurance:Coverage optionsDiscountsReviews and complaintsOptions for bundling to reduce ratesWhen your tenant bundles their car insurance with their renters insurance policy, they can lower the cost of their renter and car policies with some insurers. How do deductibles on renters insurance work? A deductible is subtracted from the amount of the claim for damaged or stolen items. Like homeowner’s insurance, if a tenant files a claim, the insurer will pay the tenant the remaining amount after the deductible. Hypothetically, let’s say your renter’s $1,500 LG television was stolen, and your tenant’s deductible is $500. The insurance company will subtract the $500 deductible, and the insurance company will pay the tenant $1,000.Why tenants should have coverage on their rental unitThere are many benefits of renters insurance. Since landlord insurance doesn't protect your tenant's personal items, their tenant's insurance will. Remind your tenant to photograph their valuables once they move into the rental.When your tenant has liability insurance, it can cover the costs of injuries incurred by a guest and, in some cases, property damage caused by the tenant or guest of a tenant.The likelihood of a landlord's premium increasing after filing a claim is very high. If your tenant has personal property coverage and liability insurance, their insurance will cover loss or injury, which will not affect your premium.FAQ: Why tenants should invest in renters insurance What is landlord insurance, and why is it important? Landlord insurance is for property owners who rent out their homes. Landlord insurance will protect landlords against financial loss. Why should tenants have renters insurance, and how can it benefit both renters and landlords? Your landlord’s insurance will not cover a tenant’s personal property. If you file a claim for injury of a guest or displacement expenses, your premiums could go up. If your tenant is insured, they can file a claim, and your premium won’t increase. What are basic renters insurance coverages? A basic renters insurance policy will cover:Personal propertyLiabilityAdditional living expensesLike homeowner’s insurance, your personal belongings are covered. With liability, some property damage caused by the tenant is covered, and some injuries occurring on the rental are covered. Additional expenses will compensate for groceries or accommodation if a property becomes unlivable and the tenant needs to seek temporary housing. Our final thoughtsAsking prospective tenants to get renters insurance should be a part of every landlord's interviewing process. Learn how to screen tenants with SingleKey to ensure you're minimizing financial loss and welcoming trustworthy tenants into your rental property. --- ### Pro Landlord Tips: How SingleKey's Rent Guarantee Reduces Rental Risks [Pro Landlord Tips: How SingleKey's Rent Guarantee Reduces Rental Risks](https://www.singlekey.com/en/rent-guarantee/pro-landlord-tips-how-singlekeys-rent-guarantee-reduces-rental-risks/) Meta: Professional landlord MacKenzie Wilson shares his experience with SingleKey's Rent Guarantee, as well as tips to manage the risks of owning a rental property. Date: August 17, 2023 Author: MacKenzie Wilson Content: Becoming a landlord: the risks you face and how to deal with them Being a landlord can be personally and financially rewarding. But like any other business, managing a rental property comes with unique risks. It's not the easy, passive path to wealth that some "financial gurus'' make it out to be.  I discovered this quickly when I decided to invest in my first rental property more than eight years ago. I had real fears, including getting stuck with the stereotypical "bad" tenant (aka professional tenant). I was also anxious about becoming a project manager and fixing my property if there were damages—skills I didn’t have. What motivated me to become a landlord though was to better my family and our financial future. What I found was a passion to help landlords and tenants in a daunting, highly-regulated industry. As SingleKey’s Director of Customer Engagement & Experience and one of the co-founders and managing partners of the Alberta Landlord Community (ALC) on Facebook, I get a chance to pursue this passion every day. Through ALC, the largest online community dedicated to Alberta landlords, and my work with SingleKey, I help educate people so they can reduce their risks, overcome challenges, and foster positive relationships with their tenants. I've learned a tremendous amount about the ins and outs of running a successful rental operation, sometimes the hard way. And when it comes to rental risks, it boils down to this: avoiding risks altogether as a landlord is impossible. But you can reduce your exposure to them with SingleKey’s Rent Guarantee. How Rent Guarantee helps new landlords The biggest takeaway for new landlords is that you don’t know what you don’t know. It’s like you’re seeing only the tip of the iceberg. Just recognizing this fact is a great challenge. If you make a mistake in this business with a large and expensive asset (your rental property), the consequences can be severe. In another type of business, a minor mistake might only cost you a couple hundred dollars, maybe a couple thousand dollars. But in the rental industry, making the same error can cost you $10,000 or more. Any mistakes you make are amplified. As a result, you must either find someone with the right experience to help you offset these risks or put safeguards in place to minimize them until you can be knowledgeable enough to handle them.  A lot of what it takes to be a part of this industry is where the Rent Guarantee shines—it takes away those hidden risks. SingleKey’s Rent Guarantee Program covers you for lost rent up to 12 months (up to $60,000) if your tenant stops paying. It also offers lease break protection if your tenant unexpectedly vacates the property early. There’s also property damage protection and legal support if you have to go through the eviction process.  Rent Guarantee gives landlords with a few rental units the same protection as large property managers who may have dozens or hundreds of units. This makes it a great asset for new landlords because those with only a handful of properties suffer more when their tenants fail to pay rent or cause property damage. Larger firms can more easily manage and absorb these risks, given the sheer size of their business. How Rent Guarantee can help experienced property owners The Rent Guarantee is also a valuable tool for experienced landlords, as it can provide financial support during lengthy evictions. Long wait times are common in certain jurisdictions; it can even take months before you present your case before a tribunal. As a landlord, you have no control over this. If you're evicting a non-paying tenant, can you afford not to collect 8, 12, or even 18 months of unpaid rent? If you can, then financially, you're in great shape. But most people don't have that kind of money sitting in reserve. That's where the Rent Guarantee Program can help more experienced landlords. For a small price of your overall capital, you can protect yourself from long wait times during evictions, which can easily cost tens of thousands of dollars. How Rent Guarantee helps landlords find more qualified tenants Increase your chance of getting great tenants by broadening your search to include students and new Canadians with no credit history. The Rent Guarantee Program acts as a guarantor for tenants with little to no credit history, which reduces the risk for landlords and gives them peace of mind. This increases the chance for students to land their first rental and helps them start their rental history, which is always a challenging endeavor. For new Canadians, the Rent Guarantee Program also allows them to get a fresh start faster without paying large sums of money upfront. Instead, they can use their savings to build a new life.  More tips to reduce the risk of managing a rental property Screen tenants properly Most of the risks that come with being a landlord can be avoided by finding a great tenant.  You might have the perfect rental property, perhaps within walking distance of a university in your city or close to sought-after amenities, such as public transit. But if you sign a lease with someone who doesn't pay rent, that property will cost you money every month.  All the effort is done upfront by putting the right tenant in place. Of course, screening tenants takes a lot of time and effort. It's also easy to miss red flags and other crucial details if you don't have access to reliable information.  SingleKey's Tenant Report can help you accomplish this task. It's a comprehensive report covering an applicant's credit standing and background, allowing you to assess confidently whether they'd be a good fit for your rental. Basically, it arms you with the same information a bank or car dealership would have to review before deciding to lend money to a customer.  Get the right home insurance coverage Most home insurance policies are geared towards your primary residence or another property you use exclusively, such as a vacation home. In other words, it protects you as the owner.  However, with a rental property, you'll have tenants who are the primary users of the property, not you. And there are a lot of different risks that come with this type of scenario that wouldn't apply if you were the primary resident. As a result, you'll need a specific kind of insurance policy tailored for this type of arrangement. Pay attention to your coverage around vacancies. Having multiple months of vacancy as a rental property owner is quite common. For example, you may be unable to find a replacement tenant because your current one departs two weeks before Christmas (a time when few people are looking to move to a new place). Or you may need to renovate or repair damages after your tenant leaves to ensure your property stays competitive in the rental market. With my insurance provider, it doesn't matter if I do weekly inspections or anything else to keep an eye on the property: my contract will be voided after 30 days of vacancy. Insurance is worth paying attention to in the rental business. Ensure you get a policy that protects you from the unique risks you face as a landlord. Ensure your tenants have renters insurance Another recommendation I always make for new landlords is to require their tenants to have renters insurance. While it mainly benefits the tenant, it also protects the landlord from an insurance claim, which could increase their premium. Let's say that your tenant is barbecuing in the backyard. Unfortunately, the barbecue grill is located too close to your house, and a fire erupts, causing considerable damage to your property. If your tenant has renters insurance, more often than not, your insurance provider will push the claim and all the costs onto their policy. As a result, you'll avoid an increase in your premium, and the incident won't appear on your insurance history. A tenant with renters insurance will also provide peace of mind for you and your tenant. I have a good working relationship with all of my tenants. I'd hate to see them move out or scramble for new accommodations because there's been a flood in the basement. If something like that occurs, the property will become uninhabitable, maybe for the next two months, while repairs are completed. It would be tough for my tenants to find a new place, especially during a high-demand rental season. But with renters insurance, everyone can rest easy at night. Our final thoughts Understanding the risks unique to the rental industry is essential to being a successful landlord. Once you know the issues you may encounter, you can take the necessary steps to reduce your exposure to them as much as possible. If you're brand new to the industry, you may not know there's trouble ahead until it's too late. And even if you're a seasoned pro, an unforeseen disaster can still take you by surprise, such as a year-long eviction that wipes out your bank account.  Because it's impossible to predict and deal with every issue when managing a rental unit, the Rent Guarantee Program is a valuable asset for all landlords. Explore how Rent Guarantee can help protect your rental income. --- ### Rental Tips: How is Having a Security System for Your Home a Risk Management Strategy? [Rental Tips: How is Having a Security System for Your Home a Risk Management Strategy?](https://www.singlekey.com/en/ownerkey/risk-management/rental-tips-how-is-having-a-security-system-for-your-home-a-risk-management-strategy/) Meta: Installing proper security for your rental deters criminals from targeting your property. Consider these factors when designing your ideal home security system. Date: August 10, 2023 Author: Mark Gregorski Content: Creating a home security system for your rental is a wise investment. Criminal activity like theft and vandalism can harm your rental’s profitability, leading to higher tenant turnover and costly insurance claims. By improving the security of your property, you can drastically reduce these risks, which can help you keep your tenants safe and boost your income. So, how is having a security system for your home a risk management strategy? We'll explore the tools and services you can use to deter criminals from targeting your property and what to consider when designing your ideal home security system. Choosing the right home security system for your rental property There isn’t a one-size-fits-all security solution for all rentals. There are, however, critical factors you should consider to ensure you get the best return on your investment. 1. Assess the level of security needed Your goal is to figure out what equipment and services are necessary to offer enough protection for your rental and tenants. For the most part, the type of property you own will dictate the scope and design of your security system. Ask yourself: Is your rental a condo, townhouse, or detached property? How large is your property? Is the rental open concept or are the rooms separated by walls? How many entry doors and windows are there? Is there one level or more than one? Is there a garage, shed, or other detached structure that needs additional protection? Next, evaluate the amount of crime in the community where your rental property is located. The higher the crime rate, the more security measures you’ll need to put in place. 2. Choose a budget The cost of a home security system can vary widely. The more features and services there are, the more you can expect to pay. Therefore, it's crucial to settle on a budget beforehand, one that will provide adequate security but not cut into your rental profits. Typically, less is more when it comes to rental property security. There's no need to spend $50,000 to build a panic room in the basement when a smart lock coupled with a basic alarm will do. You can keep your costs low by prioritizing the most vulnerable areas, such as the front door. It's also wise to choose security devices that offer multiple features, such as a camera that allows for remote viewing, two-way audio, and HD video capture. 3. Consider the installation process Before you start on your home security shopping spree, consider the installation process. Are you prepared to commit the time and effort to installing and configuring everything properly? And how easy is it to get the equipment up and running? Suppose the security system you want is bulky and tricky to install. In that case, you may lack the time and expertise to set it up, so you'll need to hire a professional. Naturally, this results in another expense, but ensuring all your devices function is worth it. Plus, you may receive an extended warranty and extra deals on top. Alternatively, if your system is relatively easy to install and configure, and you have plenty of time to spare, taking the DIY route can save you money. 4. Decide between a wired, wireless, or hybrid system While overlooked by some landlords, whether you prefer your home security to operate on wired or wireless technology (or a combination of both) is worth thinking about. A wired security system is more reliable, as it doesn't require an internet connection (which may abruptly disconnect due to signal interference), and you don't need to charge any batteries to keep it running. However, it typically requires professional installation and may shut down during a power outage. Alternatively, a wireless system is easier to install and is resistant to power outages. However, it runs on battery power, which requires maintenance and is susceptible to signal interference and hacking. A hybrid security system offers the best of both worlds. For example, you could opt for wireless motion sensors and a plug-in camera for your front door.  5. Self-monitoring vs. professional monitoring A self-monitoring security system is ideal if you're okay with assessing and responding to security threats personally. It's also a great way to save money, as the DIY approach to monitoring your rental is far cheaper than outsourcing the job. Remember though that you're the last line of defense. For example, you or your tenant must contact first responders should a break-and-enter occur. Naturally, this could be a problem if everyone is sleeping or if no one's home at the time of the incident. On the other hand, suppose you're not confident in handling your home security. In that case, it's better to turn to a professional home security company. Should there be an emergency, such as a home invasion, the security firm will immediately dispatch the appropriate authority to your property. And, of course, this service is active 24/7, which is helpful if your tenant is on vacation. Which security devices or services should I invest in? Many home security devices and services are available to discourage criminal activity. Here are some popular options to consider. Smart lock A smart lock allows you to lock and unlock your door automatically by typing in the access code—no physical key is required. You can also control the lock remotely through your smartphone and track who enters and leaves your property. The combination of keyless entry, automatic locking, and remote monitoring features will make it more challenging for thieves to access your rental. Video doorbell A video doorbell is essentially the digital equivalent of a peephole. It operates with smart technology, so you can check who’s near your entrance at any time of the day through your smartphone, tablet, or other electronic device. Most video doorbells come with a built-in, two-way voice speaker, allowing you to communicate with the person outside your front door, even while you’re away from home. Some models offer live streaming and recording capability, as well. Motion sensors Motion sensors are designed to detect movement in a defined area. When triggered, they activate an alarm or switch on lights to your property. The advantage of motion sensors is that they can alert you of an intruder on your property when you’re not at home. Most modern variations will notify you of a threat via your phone, enabling you to take immediate action. Surveillance cameras Installing security cameras is one of the savviest ways to keep your property crime free. They discourage burglars from targeting your rental and capture footage of criminal activity. Modern surveillance cameras seamlessly connect with your Wi-Fi and allow you to monitor your property remotely. They also offer features like night vision, high-resolution video, motion detectors, two-way audio, sound detection, and sirens. Alarms An alarm system detects intruders who enter your property, usually through a door or window. Triggering it results in a loud warning. Some alarm systems automatically notify the police or your home security monitoring company. Security lighting Security lighting illuminates dark areas surrounding your property, making it harder for intruders to carry out their criminal activities undetected. Like locks and cameras, most modern security lights run on Wi-Fi technology. As a result, you can switch them on and off remotely. Keeping the lights on while you’re away will give the impression that someone’s at home, which may alone be enough to dissuade most burglars.Monitoring services. Investing in an all-encompassing home security syste Monitoring services Investing in an all-encompassing home security system managed by professionals is an excellent way to ensure your rental property is safe for tenants. Most monitoring services offer customizable security plans and 24/7 home surveillance. Should an intruder gain access or another emergency occur on your premises, the company’s response center will notify the proper authorities on your behalf. The benefits of investing in a home security systemImplementing a home security system for your rental property provides many benefits that can enhance your rental business:Protection for your tenantsWith robust security features on your property, your tenants can rest easy knowing they're safe from burglars and other threats. By showing that you've put in effort to safeguard their belongings and lives, tenants will be more likely to stay in your rental for the long haul. Prioritizing safety will foster a positive tenant-landlord relationship.Protection for your property and possessionsAn effective security system will minimize the chance of having valuable items stolen and the premises damaged. If you opt for professional monitoring from a home security firm, you and your tenant will benefit from 24/7 surveillance.Lower insurance premiumsAs a landlord, you have plenty of expenses to deal with, so discounts are always nice to have. Most insurance providers view home security systems favorably, as they reduce the risks of property damage or theft. By showing that you have security features in place, you could get a sizable reduction on your landlord insurance premium.Detection of fatal hazardsBurglars and vandals are a threat, but they're usually not as deadly as fire, smoke, and carbon monoxide. Comprehensive security systems typically include devices that detect such dangers and promptly alert the home's occupants. Some of these tools also come with water sensors, which protect your rental from flood risks.Attract quality tenantsInvesting in security services and equipment will make your property more attractive to potential renters. Modern security offerings have built-in features, like remote monitoring, that would make your rental stand out to tenants looking for a safe place to call home. Higher rent feesIf your rental boasts a sophisticated security system, you could justify charging a higher price. Some tenants will be more than willing to pay for the extra safety features, especially if they own valuable items.Manage your property efficientlyIn addition to improving your property's safety, a home security system can reduce the time and money you spend on doing other tasks as a landlord. For example, by installing smart locks on your doors, you'll no longer have to change locks and keys between tenancies. And if you run a short-term rental operation, smart locks are a great way to streamline check-ins and prevent late check-outs. You'll have more control over who can enter and leave your property—and you can do it remotely.Our final thoughtsA home security system is essential to managing the risks of owning a rental property. Luckily, more options are available today than ever before to keep your home safe, so you can easily find a solution that fits your needs and budget. Modern security devices utilize smart technology, making them affordable and convenient, and professional monitoring services spare you from keeping an eye on your property around the clock. Armed with the right mix of security tools and services, you can protect your investment from theft, vandalism, and other criminal activity. And your tenants will be grateful as well, as they certainly don't want to become an unexpected victim. Providing them with a safe and comfortable living space will make them more inclined to stay with you for the long term. --- ### Do Tenants Look for Online Landlord Reviews? [Do Tenants Look for Online Landlord Reviews?](https://www.singlekey.com/en/ownerkey/risk-management/do-tenants-look-for-online-landlord-reviews/) Meta: Many people search for online landlord reviews. These reviews can affect a landlord's reputation and be a red flag for tenants. Learn how to prevent and manage reviews. Date: August 9, 2023 Author: SingleKey Content: When a property manager or landlord receives bad reviews, it can sometimes devastate their reputation and deter ideal prospective tenants from submitting their applications.SingleKey collected over 900 survey responses on how many people search reviews on landlords before applying for a rental property. In this article, we'll talk about approaches landlords can take to prevent bad reviews and how they can take action when they appear online.Are renters looking for reviews on prospective landlords?In a SingleKey survey, 76% of prospective tenants responded yes to looking at landlord reviews. In comparison, only 24% answered that they do not look at landlord reviews before applying to a rental property.The majority of people screen landlords before submitting a rental application. There are various reasons why a prospective tenant would find specific landlord behavior undesirable. For instance, if you're consistently visiting the rental property unannounced or are unresponsive to tenant requests, this can prompt tenants to file their complaints online, which can be deal breakers to renters.Reviews can affect the success and growth of a landlord or property manager’s business and cast a positive or negative light on the person’s reputation.How landlord reviews influence potential tenantsOnline reviews are easily accessible and are one of the first things prospective tenants look for when researching potential landlords. It makes sense that good reviews attract high-quality tenants who pay rent on time and aren't disruptive or negligent with the property. Good renters will also report repairs when needed so the property doesn't deteriorate and require even more extensive (and expensive) work. This means that being responsive to these requests will not only have a positive impact on reviews, but it will be financially wise for the maintenance of the rental. Responding to tenant complaints and notifying them when you plan to visit the property are two other ways to avoid negative online landlord reviews.How to manage negative online rental property reviewsIf you get a bad review online, ignoring the problem won't make it go away. You have to address it and manage it skillfully. Monitor your online reviews and respond professionally to all of them, including those that are negative and include baseless claims.For instance, if a tenant posts an online review that accurately represents a landlord's past behavior, the landlord should apologize and share the steps they and their property management team have taken to resolve the issues. Take responsibility and offer apologies and solutions when appropriate. Or, if you come across a negative rant online that is not justified, such as a legal annual rent increase, be cordial and explain politely that an annual rent increase is written and stated within the terms of the lease agreement. By promptly addressing online reviews, a landlord will exhibit professionalism and a willingness to address any issues, which will gain the trust of future tenants and help their rental property business grow.How property managers can avoid bad reviewsIt's not uncommon for unhappy customers to vent online. When a tenant leaves a scathing review, it can damage your business. Here are steps you can take to avoid getting bad reviews. Use tenant screening reportsBefore drafting a rental agreement, you'll want to ensure you approve top-grade tenants. Using a tenant screening service like SingleKey is an efficient way to identify good tenants. When searching for a new tenant, running a tenant report on applicants and properly screening them will significantly improve your chances of landing a good renter and avoid unpaid rent, broken leases, and bad online landlord reviews. A tenant report will run credit checks from major credit bureaus and confirm proof of income with employment verification to ensure the applicant has sufficient income to afford their monthly rent. A good renter is much less likely to leave negative, unwarranted reviews online.One advantage of filling vacancies faster is having a steady rental income, but you may end up housing less-than-ideal tenants. Some possible drawbacks include late rental payments, infringing terms in the lease agreement, neglecting the property’s condition, or breaking the lease, leaving you to pay your rental property mortgage without a rental income. If you want to free yourself from the constraints of a bad tenant, you can use a rent guarantee program like the one offered by SingleKey that will support you if you must go through the eviction process. During an eviction, SingleKey's paralegal team will handle every step of the eviction process and cover legal fees up to a certain amount depending on where your rental property is located.Understand Fair Housing laws Fair Housing laws protect people from discrimination when renting or buying a home. For instance, Canada's Human Rights Act protects people from discrimination because of race, nationality, religion, sex, or disability. It's best to avoid asking questions about these topics during the rental application process or any time throughout the tenancy. When screening applicants, landlords can legally review a tenant’s eviction records, criminal records, history with previous landlords, and verify their income.Be responsive to tenant complaintsIf your tenant is alerting you of a problem with the rental, they are acting responsibly by ensuring that your property is taken care of. The issue might also affect their wellbeing, so landlords should promptly respond to complaints.When determining the rent, budget for unexpected repairs, especially if it's an older home. Experienced landlords know to keep an inventory of household items that may need updates. If you budget your rental monthly income to fix the property, when you get calls from a tenant, you can minimize cash flow problems and be financially able to afford renovations, big or small. Manage and keep the property clean before renting it out The DIY maintenance approach can be cost-effective if you have skills. But we recommend hiring a professional to do the job if you have any doubts. Hire a certified electrician for repair issues and a plumber for plumbing. Working with professionals will put an end to household issues quickly. If property damage or upkeep is needed while the home is vacant, the property owner is responsible for covering maintenance and repair costs. Familiarize yourself with local laws As a landlord, you must familiarize yourself with local and state laws to understand the costs you must cover and the documentation you must provide to a tenant. For example, in Canada, landlords are responsible for pest issues under the Residential Tenancies Act. Landlords are also responsible for maintaining the structural components of a rental and providing receipts to tenants upon request.Many first-time landlords take on too many important tasks independently, like repairing their rental property or vetting applicants when searching for new tenants. Hiring a professional tenant screening company or purchasing a comprehensive tenant report will provide:Credit score and credit reportsRental history from previous landlordsA background checkIncome sourcesAll the information in a tenant report will give landlords a clear picture of who they will be renting to. Landlords are bound to local and state legislation and should stick to these laws to avoid legal issues if they reside in the U.S. Landlords based in Canada have federal and provincial laws and acts they must abide by when screening a rental applicant.FAQ: Why reviews matter for landlords and property managers Why are property reviews important? Good reviews will boost search results and also attract good tenants. Just as landlords check prospective tenants’ credit reports to ensure they are responsible, prospective tenants look at online reviews for landlords and property managers in their search for a new home.Hunting for a new place can be disheartening if a tenant can’t find a place where the rent is affordable, the location is good, and the landlord has a sterling reputation. Good online landlord reviews are essential to anyone managing rental units or investment properties. Should tenants trust reviews? Tenants can use discretion when reading reviews and note how the landlord responds to each negative review. If good reviews outweigh one bad review, it’s safe to say it was an isolated incident. If several bad reviews are associated with the same issue, then this is a red flag that the landlord is not providing a solution.In addition to looking at online reviews, prospective tenants should research rental listings before they begin the application process. Why is looking at reviews important? Reviews provide insights for both the tenants and landlords. If a good tenant-landlord relationship is established, a negative review won’t emerge online since most issues can be handled by the landlord with clear communication between both parties.A landlord can learn from a bad review and take measures to acknowledge and improve on past mistakes. You can increase your landlord rating by handling disputes tactfully and respectfully. Our final thoughtsThe quality of your tenant can make or break your rental business. Without a formal tenant screening process in place that includes credit reports with credit scores, you could end up with a tenant who is negligent with your property, delinquent on the rent, and leaves poor reviews that ruin your business. With a SingleKey Tenant Report, you'll gain access to all the pertinent information you need to filter through risky applicants and locate the ideal tenant. --- ### How to Protect Your Rental Income with SingleKey’s Rent Guarantee [How to Protect Your Rental Income with SingleKey’s Rent Guarantee](https://www.singlekey.com/en/rent-guarantee/how-to-protect-your-rental-income-with-singlekeys-rent-guarantee/) Meta: Landlords can protect their rental income with SingleKey's Rent Guarantee. Here's how to take advantage of the financial and legal support built into the program. Date: August 4, 2023 Author: Mark Gregorski Content: Non-payment of rent, property damage, and legal fees due to eviction can quickly cut into your rental income. Here's a glimpse into how much time and money a delinquent tenant can actually cost you: The average cost to evict a tenant is $12,000. This includes lost rent payments, legal expenses, costs to find a replacement tenant, and potential repairs for property damage. The average cost of legal fees for a tenancy hearing is $1,250. To receive an order to evict your tenant, you'll need to pay court filing fees, hire a paralegal to handle the paperwork and hearing, and in some places, a Sheriff to execute the eviction on your behalf.Removing a tenant from a property takes between four to eight months. Getting your case heard in court takes time. Factor in the decision process, court delays, and the time it takes to enforce the eviction order, and you could be looking at months of lost rental income as you move through each phase of the eviction.This is where coverage under SingleKey’s Rent Guarantee Program can protect you and your real estate investments. Read on to find out how to guarantee your rent and manage rental property risks while sleeping easy at night.What is SingleKey’s Rent Guarantee Program? The Rent Guarantee Program gives you access to financial and legal resources to help you protect your rental income. These benefits include coverage for missed rent payments, lease break and property damage protection, and more. Rental income guaranteeA tenant who suddenly stops paying is every landlord's worst nightmare. Unfortunately, evicting them from your property or getting a court judgment to collect unpaid rent can take months. Meanwhile, you're booking a loss each month that passes by. The Rent Guarantee Program will cover your lost rental income for up to 12 months (up to $60,000). Lease break protectionIf your tenant unexpectedly breaks their lease without giving proper notice, you'll receive 30 days of rent paid.Property damage protectionMost landlords rely on a security deposit to pay for damage to their rental unit. However, it may not be enough to cover extensive damage caused by a tenant. Under the Rent Guarantee Program, you'll receive compensation for up to $10,000 to fix your property.Legal supportDepending on your situation, you may need to evict your tenant, which means taking your case to court. SingleKey will cover you for up to $2,000 in legal fees and provide access to a paralegal team to handle your case from start to finish.Automated rent collectionSingleKey's Rent Collection platform lets you set up pre-authorized deposits with your tenant. Not only will you be able to track deposits in real time, but you'll also help build up your tenant's credit score as SingleKey reports rent payments to Equifax. Automated rent collection is free when you sign up for the Rent Guarantee Program. Note: Rent Collection is only available to Canadian Rent Guarantee customers.Credit and background checkWith proper screening, you can boost your chance of finding high-quality tenants, which minimizes the risk of missed rent payments, property damage, and other problems down the road. This is why the Rent Guarantee Program includes two free Tenant Reports. Landlords can take advantage of SingleKey’s comprehensive credit report and background check, which has all the information you need to screen potential renters confidently.How do I qualify for the Rent Guarantee Program?Tenant requirementsTenants qualify for coverage under the Rent Guarantee Program if they have:No bankruptcy or previous eviction listed on their credit report in the last three yearsAt least one employed member in the householdA rent-to-gross household income ratio no higher than 50%Both new tenants and those already mid-way through their lease are eligible as long as they meet the criteria. The only additional qualification requirement for existing tenants is proof of past on-time rent payments.Owner and property requirementsAs a landlord, you qualify for coverage under the Rent Guarantee Program if you can provide proof of the following:Your property is located in Canada or the U.S.You have a valid lease signed with your tenantTo claim property damage, you must have a move-in checklist or pre-inspection pictures that show the condition of the unitHow do I get started with the Rent Guarantee Program?Registering for SingleKey’s Rent Guarantee is easy: just book a call with our Rent Guarantee team. They’ll walk you through the process.What landlords are saying about the Rent Guarantee Program Our final thoughtsLike any business, a rental property comes with its share of risks. A tenant failing to pay their rent, breaking their lease early, or damaging your property can lead to thousands of dollars in out-of-pocket costs that threaten your rental income. While you can't predict if and when such risks occur, you can successfully manage them with SingleKey's Rent Guarantee. When disaster strikes, you'll have the financial and legal support to help keep your rental business thriving.Thousands of landlords trust SingleKey to help reduce the risks of renting. Learn how you can protect your rental income with the Rent Guarantee Program today. --- ### How to Protect Your Rental Property From Flood Risks [How to Protect Your Rental Property From Flood Risks](https://www.singlekey.com/en/ownerkey/risk-management/how-to-protect-your-rental-property-from-flood-risks/) Meta: Reduce damage by ensuring your rental is protected against flood risks. Learn how landlords can manage possible water-related issues. Date: July 21, 2023 Author: SingleKey Content: Many homes in North America are susceptible to flooding and water damage caused by heavy rainfall, storm surges, and hurricanes. As climate change intensifies, the threat of floods will grow over time.  Regions worldwide are already proactively making plans to mitigate the risk of flood damage, and one strategy is the implementation of permeable landscape design. This guide will explore flood risks and how property owners can protect their properties to minimize water damage.  The cost of flood risks Places most affected by heavy rains, tropical storms, and hurricanes experience recurrent flooding. While all Atlantic and Gulf of Mexico coastal regions face the most extreme flooding, all coastal and inland states in the U.S. are at risk for flooding and flash floods, with some parts considered as high-risk areas. Brief torrential downpours, continuous rain for days, and even snowpack melts can cause moderate to severe flooding.  According to the National Centers for Environmental Information, the cost of flooding disasters in the U.S. was $173.7 billion in December 2022. These types of natural disasters are projected to grow globally. FEMA flood risk and costs data reported that the average flood claim payout from the National Flood Insurance Program (NFIP) in 2019 was $52,000. The average annual flood insurance policy in 2019 was $700. This figure doesn't reflect policies from private companies not supported by NFIP. In Canada, spending on flood-related water damage accounts for 75% of all weather-related expenditures. Floods will become more likely and more severe globally, but there are steps property owners can take to manage these risks.  Strategies to avoid flood damage Here are some steps landlords can take to mitigate flooding on their rental property:  Conduct regular property assessments to prevent flood damage When conducting your move-in/move-out inspection, incorporate property assessments of areas susceptible to water damage. Safeguarding your property from flooding can save you out-of-pocket expenses. If your rental will be vacant for a long time, shut off the water main.  After a downpour, check the exterior of your property for pools of water near the foundation. If the home has gutters and downspouts, make sure they’re directing the water away from the foundation. Pools of water near your foundation can seep into the basement and become the main culprits for leaks and water damage.  Adding safeguards before a flooding event If you plan to update your property before placing it on the rental market, consider a landscaping design that will effectively minimize flooding, like flood management landscaping or permeable pavement. One solution to climate-proofing areas of your property that collect rainwater is to convert these flood-prone spots into rain gardens. A rain garden is a constructive method for collecting rainwater and allowing it to absorb into the plants and soil. With rain gardens, you're working with the water, not against it.  For properties with a high chance of flooding, adding a permeable landscape design will be an effective preventative measure to reduce the risk of flooding. Installing flood-resistant doors and windows is ideal if you live in regions that experience tropical storms or hurricanes. Anticipating extreme weather patterns will help rental property owners plan for the worst and be prepared for a major flood event. Raising your home is also a common way to protect property in a high-risk flood zone. On-site property managers should store valuable assets and documents in water-proof containers raised off the ground. Anchoring air heat pumps, water meters, electrical cords, and utilities where water can’t access them will prevent damage during a flood. Where does your rain runoff flow to? How well does your property's soil drain? Extreme water damage can cause structural damage to your home, so weather-proofing your basement and landscaping could save you thousands of dollars and reduce the chance of flooding. Check for leaks and water damage. These are red flags you should prioritize in repairing and preventing future damage.  Review your insurance coverage Without flood insurance coverage, the financial burdens of flood damage to your investment property can increase dramatically. Landlords with properties in flood-prone areas should invest in flood insurance. States along the Atlantic Coast and the Gulf of Mexico are vulnerable to hurricanes and are threatened with catastrophic damage during tropical storms and hurricane seasons.  Speak with an insurance agent to:  Understand what is covered in your flood insurance policy Familiarize yourself with your landlord insurance policy Get quotes for flood insurance  Locate private and flood insurance providers backed by NFIP Learn about federal disaster assistance with FEMA and EPR by contacting your insurance agent or the FEMA helpline: 1-800-621-3362 Plan to prevent flood waters from entering the property Anyone occupying your rental property acts as a steward of your home. As a landlord, you must inform your tenant of the inherent risks and how to practice safety during a storm or flooding. Once you've analyzed the flood risk, advise your tenant of flooding risks specific to your property and ask that they alert you of any water-related issues. Landlords should provide guidelines for properties in flood zones.  Risks for units or houses in flood zones include:  Flood waters pooling in the yard Pool water overflowing High water levels from nearby lakes and rivers Leaks and mold Power lines or electrical wires down  Collaborate with your tenant on a detailed emergency plan to minimize flooding damage and ensure your tenant acts safely. Organize an emergency kit with essential supplies that anyone can access at your rental property and inform your tenant where they can find help for flooding in emergencies.  If your tenant lives in a high-risk flood zone, check in with them during and after storm surges to see if they're experiencing power outages or any risks of flooding. FAQ: How to protect your rental property from flood risks How can I manage the risk of flooding? Ensure your property is weatherized, and any flood-proof areas are eliminated. Elevate air conditioning and utilities. What are flood management strategies? You can use several strategies to protect your property from flood damage, including working with your natural environment to redirect rainwater or flood water, building walls to prevent erosion and flooding, and elevating utilities and structures in high-risk flood zones.  Is there flood damage assistance available beyond flood insurance? Typically, standard homeowner insurance does not cover flood damage in the U.S. Property owners that reside in high-risk areas are urged to get flood insurance, aided by the NFIP. There is federal assistance for state and local governments when emergency and major natural disasters occur. FEMA/EPR disaster assistance provides three categories of assistance: Individual Assistance – aiding households Public Assistance – assisting private and non-profit organizations Hazard Mitigation Assistance – provided to state, local, tribal, and territorial governments to create a plan for hazard mitigation. Our final thoughts Having a healthy tenant-landlord relationship is essential. Communicate with your tenant about what they should do in a high-risk flood area or how to prepare for or handle flooding events at residential properties. Creating a plan will help keep your tenant safe and reduce property damage. Visit SingleKey to learn about more ways you can protect your rental property.    --- ### Essential Strategies to Prevent Rental Property Vandalism [Essential Strategies to Prevent Rental Property Vandalism](https://www.singlekey.com/en/ownerkey/essential-strategies-to-prevent-rental-property-vandalism/) Meta: Here's how to prevent rental property vandalism and safeguard yourself with security systems and landlord insurance. Date: July 19, 2023 Author: SingleKey Content: When theft or vandalism descends on your rental property, it feels like a violation. Whether this is a common problem, a recent spate of criminal activity, or a unique set of circumstances, there are steps you can take to protect your rental property.Here’s how property managers can effectively deter vandals, and why understanding your landlord insurance coverage and engaging with neighbours and tenants can help minimize the risk of vandalism.What's considered rental property vandalism?Rental property vandalism is when someone intentionally damages property. Common types of residential property damage can include defacing or destroying your home or parking structures. Cutting down trees without permission, destroying landscaping, smashing windows, graffitiing, egging a house, or dumping trash are all considered vandalism.According to the U.S. Department of Justice, most graffiti occurs on apartment buildings next to dark alleyways or in spaces open to the public. Lighting the area will heighten the risk and likely deter offenders. Promptly painting over graffiti can also discourage a repeated graffiti offence. Broken residential windows are typical examples of vandalism. There are different factors affecting the cost of repairs. The window type and the number of windows can determine the costs. For example, the cost of repairing impact glass, such as hurricane-proof windows, is estimated at $55 per square foot. Repairing a damaged window frame can cost between $200 and $600.If an owner delays window repairs, it can cause the home to be less energy efficient, driving up the electric costs.Understanding landlord insurance policies Check your landlord insurance to ensure it covers vandalism or if it is additional coverage to your policy. An insurance agent can let you know if the insurance pays for the actual replacement cost or only a depreciated replacement cost. Your policy might have a deductible where you must pay a specific out-of-pocket expense before the insurance will cover damages.Understand your legal rights and responsibilities regarding vandalism. Some insurance policies may not apply to vandalism inflicted by your tenants. An insurance company with vandalism coverage will pay for broken windows or any damage to the property listed in your policy.Landlord insurance usually does not cover personal property, including your car, the tenant's car, or any damaged personal belongings. Learn more about what is and isn’t covered by standard landlord insurance policies. Although burglary is insurable, vandalism and burglary are separate violations. If breaking and entering occurs and property is stolen or damaged, that would not fall under vandalism. The landlord must add burglary to their landlord insurance policy, as it covers the rental property exclusively.Keep a detailed record of incidents and know who to call if your property is vandalized. If there is a theft or an act of vandalism, report the incident to the police. You will also want to contact your insurance company and describe the type of property damage, when the destruction occurred, and if you have any witnesses to the criminal activity.Provide a sense of security with safety measuresLandlords should take safety measures to protect their investment property, and the first step is getting landlord insurance. You can also reduce the chance of defacement to your property by actively warding off acts of theft or vandalism. Abandoned or vacant properties incur more vandalism and often attract a crime of opportunity. You can take several steps to secure the exterior perimeter and assure your prospective tenants that security safeguards are in place, including:Securing the exterior perimeter of the property with a fence or gate, if possibleInstalling security cameras with a remote monitoring systemReinforcing locks, doors, and any entry pointsAdding exterior lighting or outdoor motion sensor lights Exterior lights triggered by movement are an excellent solution to reduce light pollution. They will also startle anyone approaching the property. A locked gate is another deterrent to criminal activity.Strengthen tenant education and communicationOpen communication between tenants and landlords is critical when establishing guidelines for property safety. As a responsible landlord, be responsive to tenant concerns, and work together to create safety procedures. Educate your tenant about the potential for inviting criminal activity with unlocked gates and doors. If you have security systems in place, such as a home security system or security camera, provide your tenant with step-by-step instructions on using these security systems.Build community relationshipsMany households that work hard to take care of their property and get to know their neighbours are in a better position to keep theft or vandalism at bay. Some simple steps you can take are to visit with neighbours and introduce tenants to your them. Also, by joining community watch groups and staying informed on community news, you can anticipate any negative impacts on your rental property.Implement a rigorous tenant screening process Sometimes, a tenant or a friend of the tenant inflicts property damage. While a security deposit and insurance may help pay for repairs, you can also prevent intentional property damage from happening in the first place by using a tenant screening service like SingleKey. With screening services, property managers can verify landlord references and employment history to ensure their rental is in good hands. FAQ: Essential strategies to prevent rental property vandalism What are examples of vandalism? Vandalism can take many forms. However, defacement, graffiti, egging, and breaking windows or doors are the most common. What is tenant vandalism? Accidental damage is not considered vandalism. Intentional damage, no matter the circumstances, is considered vandalism. For instance, if a tenant is locked out of their home and smashes a window to enter by sheer panic, that is still considered vandalism. What can we do to prevent vandalism? Keep your property tidy, and ensure your entrance is visible so neighbours can see your home from across the street. Install motion sensor lights or audio warning trespassers that they are on camera. Having a security system in place will deter criminal activity. Visit with your neighbours regularly. Our final thoughtsVandalism or trespassing are concerns for both tenants and property managers. As a landlord, you can take measures to identify areas on your property that might attract criminal activity, including theft or vandalism. Know your rights and understand what counts as vandalism inflicted by a tenant. By running background checks through a service like SingleKey’s tenant screening, you can efficiently screen applicants, ensuring your tenant will be good stewards of your home. --- ### Fire Insurance Coverage: What You Need to Know for Rental Properties [Fire Insurance Coverage: What You Need to Know for Rental Properties](https://www.singlekey.com/en/ownerkey/risk-management/fire-insurance-coverage-what-you-need-to-know-for-rental-properties/) Meta: Learn about how fire insurance coverage protects your rental property and what to look for when shopping for an insurance policy. Date: July 18, 2023 Author: Mark Gregorski Content: Fire insurance is one of the most critical types of protection to get for your rental property. It doesn’t take much for a fire to start. Maybe your tenant leaves a boiling pot unattended or fails to put out a cigarette butt. The outcome can be complete devastation of your property and everything in it. Fire insurance coverage compensates you for financial losses and damages after a fire. But not all plans offer the same level of protection, so it's crucial to know how to evaluate your options to choose one that best meets your needs. Read on to explore the ins and outs of fire insurance for rental properties, including the coverages offered and what to consider when shopping for a policy. What is fire insurance coverage for rental properties? Fire insurance pays for the cost to repair or rebuild your rental should it suffer fire damage. It also covers you for personal possessions lost in the fire, expenses arising from liability, and other costs. The extent of coverage will vary depending on how comprehensive your policy is. Fire insurance is typically a component of landlord insurance, which protects your rental property against a wide range of risks. Homeowner's insurance also offers protection from fire damage, but only for a property that is your primary residence.  You can also purchase fire insurance as a stand-alone policy. However, the coverage is usually quite limited compared to what a well-rounded landlord insurance package offers.  Fire insurance coverage applies to fires that start from inside or outside the property (there are certain exceptions which we'll describe later). The cause of the fire is irrelevant for the most part, assuming it's accidental and the result of an everyday risk. These include:  Faulty appliances Gas leaks Candles Faulty electrical wiring Lightning strikes Kitchen fire Smoke damage Fire spreading from a neighbour's property A fire insurance policy provides financial compensation up to a specified dollar amount. In general, the higher the limit and the more extensive the scope of coverage, the more expensive the policy. As with other types of insurance, you'll have to pay a deductible when filing a claim. What does fire insurance cover? Fire insurance geared towards rentals protects you against losses you'd normally have to pay out of pocket. In general, you can expect coverage for the following: Building. The most critical aspect of your policy protects your building, including any attached structures, such as a patio. If it is damaged, your insurance provider will cover the cost of restoring it to its original condition.  Detached structures. This section covers structures on your property that are permanently installed but separate from your building. Some examples are a garage, shed, fence, gazebo, and pool.   Personal contents. Lost or damaged items inside your rental all fall within your fire insurance coverage. Your insurance provider will pay up to a specified dollar amount to replace them.   Liability. If a fire that affects your rental causes harm to another person or their property, you could face hefty legal fees and settlement or medical costs. The liability component of your policy will reimburse you for these expenses.  Lost rental income. Following a fire, your tenant may need to move out due to the extent of the damages. If that's the case, this part of the policy will cover the rental income you forfeit up to a predetermined limit and time period, while you rebuild your property. Your insurance provider will reimburse you based on fair rental value rather than what you charge your tenant. In addition, your insurance coverage will stop once your property is livable again, whether your tenant chooses to move back in or not.  Tenant relocation. This part of your policy will pay your tenant's relocation expenses if they can’t live on your property following a fire. As noted previously, the extent of coverages will vary based on how broad of a policy you choose. Ensure you review fire insurance policies carefully to understand what is and isn't covered, including the cap on payouts following a claim. What fire insurance doesn’t cover While fire insurance will offer you and your property great protection, there are instances when it won't bail you out. These situations include the following: Arson and other criminal acts. Fires deliberately set or resulting from illegal activities on your premises don't qualify for coverage.  Fraudulent claims. If you provide misleading information on your claim, such as overstating the extent of the damage or lying about the fire's origin, your insurance provider has the right to deny you coverage. Failure to meet local building and fire codes. If you've failed to take appropriate steps to ensure your property is up to code, your insurance company can deny a claim related to a fire that breaks out.   Extended vacancy. Fire insurance coverage remains intact only if someone occupies the premises as a full-time resident. In addition, if your rental remains vacant for an extended period (typically 30 days) during which a fire destroys it, your insurance provider can deny your claim. Questions to ask when buying fire insurance coverage Given that the coverage level of fire insurance varies, it’s worth assessing your needs and preferences before you select your ideal policy. Here are some things to consider before purchasing fire insurance: Do you want a stand-alone policy or a broader insurance plan? You can get fire insurance coverage through a landlord insurance plan or a stand-alone policy. Stand-alone fire insurance, not surprisingly, is geared only towards fire-related risks. That means it won’t do you any good if a frozen pipe in your rental bursts and causes a massive flood or vandals break in. In addition, it may exclude certain types of coverages, such as those for personal belongings, and it may offer lower payouts for claims. However, a stand-alone fire policy is less expensive than all-risk insurance, which covers a broader range of risks.  The benefit of landlord insurance is that it offers protection against many types of risks, in addition to those related to fires. These all-encompassing insurance plans typically also have higher payouts than a stand-alone policy. On the flip side, a standard landlord insurance plan charges a higher monthly premium. In general, most landlords and rental property owners are better off getting fire insurance coverage as part of a diverse landlord insurance plan. Does your property contain valuable items? Suppose your rental property contains valuable belongings or equipment. In that case, you may need additional coverage for these items. This coverage is known as “listed property.” While your insurance provider will reimburse you for possessions ruined by smoke and fire, there’s always a limit to how much you’re eligible to receive after filing a claim. To decide if standard coverage is right for you, list the possessions you want to be replaced in the event of a fire and tally up their value. You’ll have to top up your insurance with extra coverage if there’s a wide gap. Do you want coverage based on replacement cost or actual cash value? An insurance provider will use one of two methods to calculate the amount required to rebuild a property following a fire: replacement cost or actual cash value (ACV). Replacement cost is the total amount needed to restore your property to its prior condition without including depreciation. ACV is the replacement value minus depreciation. Your insurance provider’s method will dictate the payout size when you file a claim. It will also determine your monthly premium. A policy that provides compensation based on AVC is generally more affordable but offers lower payouts. On the other hand, one based on replacement cost will demand a higher premium, but you’ll likely receive a more generous sum of money in the event of a fire. Is your rental property located in an area prone to fires? Most insurance plans include coverage for wildfires, but even then, it’s likely to be quite limited. The reason is that insurance companies view wildfires (plus other natural disasters like earthquakes) as extraordinary events and treat them as a separate risk category. Therefore, you should consider supplementing your existing policy with wildfire insurance to have adequate protection. Fire safety tips Fire insurance coverage will give you peace of mind knowing you're protected should tragedy strike. However, it's always wise to take some common-sense precautions to prevent a fire in the first place. Here are some tips for minimizing the risk of a fire breaking out on your property:  Install smoke detectors and check the batteries twice a year to ensure they're working properly. Keep an A-B-C fire extinguisher on site, preferably in the kitchen, where a fire is likely to start. Store flammable and hazardous materials in well-ventilated areas and away from sources that can ignite them. Ensure your circuit breakers and other electrical connections are functioning correctly. Have an electrician conduct an inspection periodically. Clean your furnace frequently.  Keep your clothes dryer free from lint. Implement a no-indoor smoking policy for tenants. Keep your stove free from grease and grime. Avoid overloading outlets. Maintain the outside of your building by regularly removing leaves, branches, and other debris from your deck and outside walls. Frequently inspect and clean your chimney.  As a landlord, you're responsible for these preventative measures, but you can still ask your tenant to help with simple tasks like changing a smoke detector’s batteries.  Our final thoughts A fire can be more destructive than other risks you face as a landlord, such as vandalism, hail, and strong winds. It’s also more likely to be the culprit that wipes out your rental completely, resulting in massive out-of-pocket expenses. For these reasons, getting fire insurance coverage is a no-brainer, whether through a stand-alone policy or as part of a broader insurance plan. If you have landlord insurance, you likely already have adequate protection from fires, so you can rest easy for the most part. Still, reviewing your policy to understand your coverage areas, insurance payout limits, and exclusions is vital. Depending on the level of protection you need, you may have to upgrade your policy or buy additional coverage, such as wildfire insurance. --- ### Managing Electrical Issues for Rental Properties [Managing Electrical Issues for Rental Properties](https://www.singlekey.com/en/ownerkey/risk-management/managing-electrical-issues-for-rental-properties/) Meta: There are warning signs landlords can look for when managing electrical issues for rental properties, including flickering lights, old outlets, and loaded-up power strips. Date: July 17, 2023 Author: SingleKey Content: Any home built before the 1950s or wired by an inexperienced handyman instead of a certified electrician could be at risk of electrical issues. The common culprits for electrical fires are faulty electrical systems, unattended cooking, and space heaters. Whether you're a property owner considering a complete electrical rewiring on an older home, or making less substantial electrical updates, here's everything you need to know about securing your home from fire hazards. Risks of electrical issues for rental properties Electrical home appliances that give us light, keep us warm, help cook our meals, and wash our clothes all have potential and inherent fire risks. The U.S. Fire Administration reports that the United States fire departments documented an estimated 24,200 residential building electrical fires in 2021. These fires caused $1.2 billion in property loss. Fires originating from electrical issues are sometimes the result of using old receptacles and outdated cooking appliances, installing faulty wiring, using an extension cord to power major appliances, and plugging power strips into other power strips (daisy-chaining). In fact, the U.S. Consumer Product Safety Commission (CPSC) reported that cooking equipment accounted for the largest percentage of fires from 2017 to 2019. If you're a building owner looking for ways to prevent damages and fires, installing smoke detectors in each rental unit is essential. Hearing the piercing sound of smoke alarms will alert tenants to impending risks and is an effective way to stop fires from happening.  Property managers can drive down the cost of repairs by taking preventative measures. For instance, if you see a damaged electrical cord, replace it immediately. Call an electrician if an old electrical outlet is causing circuit breaker trips.  One of the purposes of a circuit breaker is to protect the electrical circuit, so when an outlet trips whenever you use it, the circuit breaker detects something faulty. Don't delay electrical repairs when pinpointing a problem, like a malfunctioning outlet. Ignoring a frayed cord or bad outlet can lead to trouble and will be more costly if a fire ignites. Upon replacing an old outlet, the only damage to your wallet will be  the cost of an outlet replacement, which, at less than $200, is a small price to pay.  Conduct regular electrical inspections in rental properties Protecting your home and future tenants from potential hazards is one of the utmost vital duties of a property manager. Hiring a certified electrician to inspect electrical systems while the property is vacant will help you assess the state of your home's electrical wiring and identify any safety concerns. When an electrician succeeds in spotting and repairing an issue, they are sparing landlords future, significant financial headaches caused by more severe electrical problems. Also, electrical inspections promote tenant safety, as any identified electrical issues in rental properties can be addressed before tenants move in. Once a person moves in, property managers must notify the tenant before scheduling routine electrical inspections. Checklist of electrical safety items for rental properties  Creating a visual checklist around every corner of your rental property will help you spot developing problems and ensure electrical safety. Meet housing codes and work with your tenant to check and document any issues related to electrical safety. Here are common electrical items to review together:  Wiring Old or faulty wiring is a significant issue. A residential inspection implemented by a certified electrician can determine whether circuit breakers are overloaded or if the home needs to be rewired. Other signs of imminent breaker box issues are flickering lights, breakers tripping, and signs of erosion. A breaker box can deteriorate over time. When there are noticeable signs of physical damage, this could be a sign that your breaker box needs maintenance or repair.  Switches When you use a switch, does the light begin to flicker? Is the switch warm or hot to the touch? We recommend consulting with an electrician if you answered yes to either of these questions. A flickering light can indicate a loose connection in the circuit, which a professional should handle. A warm-to-the-touch light switch occurs when too much electrical power runs through it. If a light switch is overloaded, it can cause the breaker to flip or, in a catastrophic event, start an electrical fire due to wires generating more heat than they can handle.  Outlets When a plug no longer fits snugly in an outlet, that is a sign that the outlet needs to be replaced. A loose connection doesn't carry current efficiently and generates more heat, leaving an outlet predisposed to catching on fire. Any outlet that is beyond normal wear should be examined.  Breaker panels If you smell smoke or smell something fishy (literally), that is a warning of an overheating circuit. When a circuit overheats, it permeates a fish-like scent. Take note if panels feel warm to the touch, or if you see water damage and rust. If water enters an exposed panel, electrical wiring can corrode. Electrical appliances While loading up a power strip with plugs is not recommended, it is less of a concern since most modern appliances plugged into a power strip may take up less than five amps. Do not load up a power strip if you use it for an older appliance or a high-energy-consuming appliance, like a TV or fridge. The National Fire Protection Association (NFPA) requires a typical household receptacle not to exceed 12 amps of current. Though modern appliances and devices have become more energy-efficient in the last two decades, always pay attention to how many amps your appliances use. Reducing the load on your power strips and outlets can also minimize risk. Another benefit of not overloading power strips and being mindful of energy usage is cutting your electric bill costs and reaping environmental benefits. The best rule of thumb is to minimize the number of appliances plugged into power strips, as power is still drawn from plugged-in devices even when they’re not being used. Appliances in the home that draw significant electrical currents include space heaters, microwaves, and refrigerators. And when carpenters or hobbyists set up a shop in their garage, there are various safety measures they should take, especially regarding extension cords and power strips. For example, the NFPA suggests not overloading extension cords. If your  tenant is setting up shop on your property, ensure they are using the correct AWG wire with a table saw or other high-energy tools.  Having written documentation and a checklist for tenants to reference is ideal. The CPSC has developed a comprehensive electrical safety checklist for rental units and homes. Create an emergency plan for electrical damage and house fires Property managers should seek legal advice before drafting a lease agreement for a rental unit. As an extra precaution, landlords can inform tenants in the rental agreement of procedures that can be taken to avoid electrical fires. Here are steps landlords can take to help tenants create a plan in case of an emergency or to prevent fire risks:  Ask your tenant to report any imminent signs of electrical risks. Equip the home or rental unit with a fire extinguisher and let your tenant know where it is. Remind your tenants to check the batteries in the smoke detectors to avoid house fires. Instruct tenants to check electrical equipment to confirm they are functioning properly. If a life-threatening electrical emergency should occur, ask the tenant to prepare an evacuation plan that includes leaving the property immediately and calling for help. Keep contact information for more than one reliable electrician readily available if a tenant reports an electrical issue. All building owners are responsible for covering the repair cost, including any electrical updates to the rental. FAQ: Electrical issues for rental properties What are the ten most common electrical problems and solutions? There are several tell-tale signs of electrical issues. If a tenant or a property manager notices any of the following issues, we recommend contacting a certified electrician or inspecting the source of the problem:  Damaged or old outlets Old appliances that are not functioning properly Faulty wiring Flickering lights Frequent light bulb blowouts Warm outlets or switches Tripping circuit breakers Damaged extension cords Dead outlets Foul odor  A dirty air conditioning filter may compromise airflow and potentially be a fire hazard. Always change and clean the air conditioner filter and dryer filter. Fall is also a good time to clean the dryer vent. How do I find out what electrical problems are in my rental property? Hiring an electrician to conduct an inspection is a foolproof way to learn of any electrical issues. Here are other signs that there may be problems: Frequent circuit breaker trips Warm or vibrating wall outlets Burning smell Frayed wiring How do you troubleshoot electrical problems? You can take steps to troubleshoot whether an electrical problem exists, including:  Replace old cords and outlets Schedule an inspection from a certified electrician. Property managers must give tenants proper notice before scheduling routine electrical inspections to reduce the risk of fires.  Our final thoughts When it comes to electrical issues, it's wise to leave it to the professionals and hire a certified electrician. Maintaining electrical systems will reduce risks to tenants and the rental property. Here are more home maintenance checklists to ensure your rental property is in tip-top shape. --- ### Landlord Insurance: Are You Really Covered Under Your Home Insurance? [Landlord Insurance: Are You Really Covered Under Your Home Insurance?](https://www.singlekey.com/en/ownerkey/risk-management/landlord-insurance-are-you-really-covered-under-your-home-insurance/) Meta: Find out what isn't covered under home insurance and why it's important to get the right landlord insurance policy for your rental property. Date: July 14, 2023 Author: Mark Gregorski Content: As a landlord, you face all kinds of risks that can result in financial losses for your rental property. From fire damage and theft, to lawsuits and non-payment of rent, safeguarding your property and rental income against such incidents is a top priority. That’s where landlord insurance comes into play. In this article, we'll explain how landlord insurance helps you manage the risks of owning a rental property, how it differs from home insurance, and what coverage you can expect from a typical policy. What is landlord insurance and why do you need it? Landlord insurance (also known as rental property insurance) is a type of insurance that protects you against financial losses that affect your rental property. It covers your building, personal possessions, third-party liability, and lost rental income. You can also tailor your policy by adding extra coverage based on your needs, preferences, and risk tolerance. Many landlords make the rookie mistake of thinking their home insurance will step in to cover damage and liability issues connected to their rental property. At first glance, a home insurance policy appears quite similar to a landlord insurance policy, so this assumption is understandable. In reality though, these two insurance products serve different purposes. Home insurance compensates you for financial losses relating to your property, belongings, personal liability, and other risks included in your policy. However, it's designed with the assumption that you'll be living in your home, not merely renting it out. Home insurance coverage doesn't extend to investment properties. Therefore, you must obtain landlord insurance if you own a home you use purely to earn rental income. Also, if you have a mortgage on a rental property, your lender will likely require you to purchase landlord insurance anyway. In some cases, a home insurance policy may provide you with sufficient protection. For example, let's say you rent out a spare bedroom or basement in your primary residence. In this scenario, your home insurance provider will likely still cover you since you live on the property alongside your tenant. However, it's still wise to review your existing policy to ensure that's the case and to understand any restrictions. Even if your insurance provider or mortgage lender doesn't require you to obtain landlord insurance, it's still worth getting. It offers protection against risks you may encounter as a landlord that you ordinarily wouldn't as a homeowner. Relying only on home insurance alone will leave you with significant gaps in your coverage that could leave you financially vulnerable. What does landlord insurance cover? Landlord insurance resembles a traditional home insurance policy for the most part. But it also addresses specific risks associated with rental properties. Let's take a look at what kind of coverage you can expect. Standard landlord insurance coverage A standard landlord insurance package offers four types of coverage: property, personal contents, liability, and lost rent. These are the bare minimum you should look for when shopping for your ideal policy. Property coverage. This section of your insurance shields you against financial losses from damage to the building, plus attached structures like a patio and deck. If you have a detached structure like a fence, shed, or garage, you can bolster your coverage to include the replacement value of these.. Should your building suffer damage, your insurance provider will reimburse you for the rebuild cost. The extent of your coverage will depend on the type of policy you choose. You can opt for coverage for specific risks (known as perils in the insurance industry) or all types of risks. Some examples include fire, hail, wind, lightning, and falling objects. Personal contents. This part of your policy reimburses you for damage to personal belongings on your property, such as furniture, electronics, and appliances. However, losses due to theft and vandalism are excluded. Liability coverage. If a third party (including your tenant) sustains injuries while on your rental property, they may file a lawsuit against you. Should the court deem you responsible, you could face substantial settlement costs. In such a scenario, your liability coverage will kick in and cover your legal and medical expenses. Liability coverage also protects you in cases where you're at fault for damaging another individual's property. For example, should a large branch from your tree fall onto your neighbour's home, your insurance company will cover the repair costs. Lost rental income. Suppose you must temporarily evict your tenant because a fire has rendered your rental unfit for occupancy. This section of your insurance will compensate you for the rental income you forego while doing repair work to restore your property. It's worth noting that your insurance provider will pay you for lost rent at "fair market value," which means you may receive less than the amount you were collecting from your tenant. Additional landlord insurance coverage In addition to the standard coverages, you can customize your landlord insurance policy with add-ons specific to your needs. Remember that extra coverage means a higher monthly premium, so you'll need to weigh the costs and benefits of enhancing your policy. However, most insurance providers will grant you a discounted rate if you bundle certain coverages. Sometimes, your existing insurance company may not offer the coverage you need, so you may need to seek a stand-alone policy through another provider. Extended contents. A standard landlord insurance policy will cover personal belongings only up to a certain dollar amount. Consider enhancing your coverage level with this add-on to protect pricey items on your premises or equipment, such as artwork or a riding lawn mower that you use for seasonal maintenance. Earthquake. If your rental property is in an area prone to earthquakes, this insurance add-on can save you plenty of grief and money should a seismic event occur. It may also cover landslides and liquefaction.  Flooding. This insurance add-on covers you should your home suffer damage due to flooding that originates from your home (such as a burst pipe) or heavy rainfall.  Sewer backup. Water that leaks into your property through your sink, toilet, or drains due to a backed-up sewer can cause damage that is quite extensive and costly to repair. This add-on will spare you the out-of-pocket costs. Overland water. Tacking overland water coverage to your insurance policy will protect you against freshwater spilling into your property through basement floors, windows, walls, or the foundation at ground level.  Tenant damage and vandalism. Consider adding this coverage if your rental is in a high-crime location. A good home insurance policy specifically for landlords will usually contain a clause to cover tenant vandalism and damage. A typical homeowner insurance policy will not cover this. Short-term rental. This unique insurance protects you from the risks that come with running a short-term rental operation on platforms like Airbnb and Vrbo. Similar to standard landlord insurance, you can obtain coverage for your building, contents, personal liability, and lost income. However, relatively few insurance providers offer this specialized coverage given the extra risk such rental agreements pose. As a result, you may have to acquire a policy from the rental platform itself. In the case of rental arbitrage, you can ask your tenant to have their own policy. Rent guarantee. No matter how well you've screened your tenant for financial stability, there's always a chance they suddenly stop paying rent. Rent guarantee programs, such as the one offered by SingleKey, addresses this risk by reimbursing you for financial losses resulting from non-payment of rent.  What landlord insurance doesn’t cover While landlord insurance will compensate you in many instances, there are exceptions. You won't be able to file a claim in the following circumstances: Damage due to neglect. You and your tenants share responsibility for keeping the property in good condition. General wear and tear. All properties naturally degrade over time no matter how well-maintained, so your insurance provider will disallow any claims related to wear and tear. Damage caused by infestations. This includes pests like rodents, termites, and insects. General maintenance. Housekeeping is a recurring and expected cost of running a rental property. Equipment breakdowns. Landlord insurance doesn’t cover repairs or replacement costs for household items and equipment like appliances. Tenant’s personal belongings. Your tenants must obtain renters insurance to cover their personal items. Our final thoughts Managing a rental property comes with many risks that can erode your bottom line, much like any other business. It's impossible to predict if and when one will occur, so purchasing landlord insurance is a financially savvy move.  While your current home insurance policy may provide the protection you need if you're renting out your primary dwelling, it doesn't extend to an investment property in which you don't live. In addition, home insurance won't protect you against the unique risks inherent in running a rental property. Only landlord insurance offers the specialized coverage you need. With the right landlord insurance policy, you can eliminate much of the risk of owning a rental. Plus, you can rest easy knowing an unexpected disaster won't wipe out your bank account overnight. --- ### What Can a Landlord Do About Unpaid Rent? [What Can a Landlord Do About Unpaid Rent?](https://www.singlekey.com/en/ownerkey/risk-management/what-can-a-landlord-do-about-unpaid-rent/) Meta: Discover simple tips for recovering late rent and effective strategies to manage the risk of unpaid rent. Date: July 11, 2023 Author: Mark Gregorski Content: Time and time again, property owners cite unpaid rent as one of their greatest fears in managing a rental property. This is an unsurprising fact, because if a tenant stops paying their rent, the outcome can lead to financial disaster for the landlord.  So, what can a landlord do about unpaid rent? Read on for effective strategies to deal with rent payment issues and tips to avoid the situation altogether. Scenario 1: You haven’t received rent for more than a month Most lease agreements require rent to be paid every month. If your tenant has ceased paying rent for more than one month, it’s more than reasonable for you to take action to collect the required amount. Here’s a breakdown of the overall process: Step 1: Send an informal reminder To start, email your tenant or give them a letter to let them know that their rent is past due. Keep your message brief and friendly. It's a gentle reminder that rent is outstanding and that payment should be sent as soon as possible. Your tenant may have simply forgotten to pay you. Or, their cheque could have bounced, and they didn’t know their payment failed to process. A quick message may prompt them into action to catch up on their payments. However, it's also acceptable to add in your message details about late charges you'll be applying to their account and note the consequences if they fail to pay rent. You can reiterate key clauses regarding late rent payments from the lease agreement. Step 2: Speak with your tenant So, you’ve sent a written notice about the past-due rent. Wait briefly for the payment to arrive. If you still haven't received the money, call the tenant or visit them at the property. Remember to be respectful, calm, and diplomatic during the conversation. You can ask your tenant why they've stopped paying, when you can expect a payment, and if you can do anything to help with the situation. The goal is to work with your tenant to find a solution. In this way, you can both avoid a lengthy and costly eviction process. Whatever the reason for the missed payment, it's vital to work with the tenant to develop a payment plan to resolve the issue. Ensure that the arrangement is fair and reasonable for both of you, and remember to document the agreement in writing so it's official and legally binding. You can use this document as evidence should you need to file a hearing with your local landlord-tenant tribunal. In the agreement, include a clause stating the tenant must pay the required amount by the due date. If this requirement isn’t met, you'll provide them with a written notice to issue payment immediately or move out. Step 3: Give written notice to your tenant to move out If your tenant has failed to fulfill the terms of the new payment arrangement, you're legally entitled to break the lease agreement and ask them to leave your property. However, there are laws governing how exactly you can go about doing this. You must give your tenant written notice to pay the rent by a specific due date or move out. The number of days the tenant has to pay the overdue rent varies from province to province. If they do so, the notice is cancelled, and they can resume their tenancy.  Each province has a particular form that landlords must fill out and submit to tenants for the notice to be valid. Check our local resources to find the right form. Issuing your tenant a formal written notice may spur them to catch up with their past-due rent. As a result, you can avoid escalating the issue to the landlord-tenant tribunal. Step 4: Submit an eviction application  Suppose the written notice has expired, and your tenant still hasn't paid their outstanding rent. The next step is to file an eviction application with your local residential tenancy board. During this process, you'll have the opportunity to present your case before a tribunal. If you win your case, the tenant must leave your property or face legal repercussions. Each province has a distinct form you must complete to kickstart the eviction procedure. We’ll explore the eviction process from start to finish in our follow-up article, but in a nutshell, it works like this:   Upon receiving your eviction application, the landlord-tenant tribunal will arrange a hearing date for your dispute, during which an adjudicator will review your case.  During the hearing, you'll have the chance to present evidence and dispute counterclaims by the tenant, should they have any.  If you're successful in your case, the adjudicator will issue an Order of Possession, which requires the tenant to vacate your property and repay the past-due rent. Should the tenant refuse to leave your property, you can hire a sheriff to enforce the eviction order.  What if the tenant still fails to repay the missed rent, even after leaving your property? In that case, you have one of two options: Obtain a garnishment order from the court to seize their wages. Hire a collection agency to recover the outstanding rent on your behalf.  Going through the eviction process can be painfully tedious, but it may be necessary to limit your financial losses. Once you successfully remove the non-paying tenant from your property, you can start a fresh lease with a new renter.  Remember that the goal isn't to evict your tenant. You want to incentivize them to pay off their outstanding rent. A tenant still has the opportunity to pay you what they owe, usually up until the sheriff executes the Order of Possession. They can then file a motion to halt the eviction. Scenario 2: You’re worried your tenant may stop paying rent Let's say you have a hunch that your tenant may soon default on their rent. Or, you're simply worried about dealing with missed rent payments in the future. Here are a few tips for minimizing the potential risk of overdue rent. Be open and transparent with your tenant No matter how meticulous your screening process is, there's always the possibility a tenant will suddenly stop paying their rent. An unexpected job loss, hefty medical bill, or even a significant life event like a family member's death can result in financial stress for anyone, causing them to fall behind on their rent. If you're concerned that your tenant will miss their upcoming rent payment, contact them immediately to inquire about the situation. While making a phone call and meeting in person is fine, make your initial outreach in writing so that you can track all your communications. Create a new payment plan with your tenant that accommodates their current financial circumstances. Make sure to document the terms of the agreement in writing and address any questions and concerns they may have. You can avoid a costly and drawn-out eviction by communicating with your tenant openly and working together to resolve payment issues. Report rent payments to credit bureaus Reporting your tenant's rent to a major credit bureau, like Equifax or TransUnion in Canada, can be an effective way to motivate them to stay current with their payments. On-time rent payments will boost a tenant's credit score, making qualifying for credit cards and lines of credit easier. On the other hand, late or missed rent payments will lower their credit score, making it more challenging to obtain various loans. Reporting credit won't help you recover past-due rent. However, most people will avoid damaging their credit standing, so there's a greater chance they'll make an effort to pay rent on time consistently if they’re incentivized. Structure your rent increases wisely Many tenants stop paying rent because they encounter unexpected financial hardship like a job loss. However, in some cases, they may struggle to keep pace with the rising cost of living, maybe because they haven't received a pay raise for many years. Rather than raising your rent once every few years by a huge percentage, opt to increase it slowly annually. That way, your tenant will have enough time to adjust their budget to your new fee. They'll be far less likely to default on their rent if they can afford it. Our final thoughts If your tenant suddenly stops paying their rent, taking immediate action is vital. Communicate with your tenant openly and honestly to understand the reasons for the overdue rent and work together to create a payment plan to get them caught up. Be prepared to initiate an eviction if all other options fail, but always allow your tenant the chance to make their payments. Of course, being proactive about minimizing the risk of unpaid rent is also wise. One way to protect your rental income is to sign up for a program like SingleKey's Rent Guarantee, which will cover lost rent should your tenant default on their payments. Finally, when in doubt about the legality of a particular action to recover unpaid rent, always seek advice from a lawyer. --- ### What Are the Risks and Rewards of Managing a Rental Property? [What Are the Risks and Rewards of Managing a Rental Property?](https://www.singlekey.com/en/ownerkey/risk-management/risks-and-rewards-of-managing-a-rental-property/) Meta: Explore our strategies on property risk management and the rewards of managing a rental property effectively. Date: July 6, 2023 Author: Mark Gregorski Content: Being a rental property owner can be financially rewarding if you're passionate about real estate and possess the right mix of skills.But like every kind of business, there are risks that come with managing a rental property. As a landlord, it's essential to become familiar with them and implement strategies to avoid them. With the right measures in place, you'll have a better chance of running a thriving rental business.Let’s dive into our guide on property risk management and the rewards of managing a rental property effectively.Risk #1: Choosing a tenant who doesn’t meet your expectationsThe success or failure of your rental business hinges primarily on one factor: the quality of your tenants. If you invite the wrong person to live in your rental, your entire operation can quickly go downhill.Many unpleasant issues can arise if you wind up with a troublesome tenant. The most severe is non-payment of rent, which can quickly result in financial turmoil for your business. In fact, according to a recent survey, this situation is the number one fear for 46 percent of landlords—and rightly so. As your cash flow turns negative, you may have to dip into your personal bank account to cover your property's day-to-day expenses. Or, you may need to rely on expensive credit cards and lines of credit to stay afloat.Unfortunately, evicting a tenant who refuses to pay rent isn't easy. It can take months for a court or tribunal to hear your case. And even if the court grants you a judgment in your favour, the eviction process can be costly and time-consuming.Of course, late or missed rent payments are not the only risk associated with delinquent tenants.Your tenants may also cause extensive damage to your unit, either willfully or through neglect. As the property owner, you'll have to cover the repair costs, reducing your bottom line.Improper maintenance by the tenant can also pose problems. For example, garbage can pile up, attracting rodents or bugs, leading to unsanitary conditions. The yard can become overwhelmed by weeds, requiring extensive landscaping work.Tips to avoid troublesome tenants Implement a formal and thorough screening process.Create a method for screening tenants that allows you to quickly identify red flags and maximize your chances of finding the ideal renter. Ensure you apply the same standards for each applicant for accurate comparisons.Pre-screen tenants.Save time and effort during the tenant screening process by asking applicants critical questions about their lifestyle, finances, and current circumstances. That way, you can quickly move on from those who fail to meet your minimum requirements.Do a credit and background check.Conduct a credit check to determine tenants' financial stability and a background check to gain insight into past behaviour, character, and habits.Use a tenant screening service.Get the facts you need to evaluate tenants from a dependable third-party source, like SingleKey’s Tenant Report. Doing so will give you confidence and peace of mind knowing the information is reliable and accurate.Ask for and verify all references.Always ask a prospective tenant to supply you with a list of references, primarily past landlords and current employers. There are many resources online to help you conduct an effective landlord reference check and verify an applicant’s employment history.Risk #2: Costly repairs and maintenanceA rental property demands regular upkeep, repair work, and occasionally a large-scale overhaul. As a landlord, it's your responsibility to attend to these tasks. Otherwise, you risk having your rental sustain considerable damage, such as ruptured pipes, a leaky roof, and various structural issues.If you fail to address problems that emerge early on, you could be on the hook for tens of thousands of dollars in repairs. Extensive damage to your rental may also negatively impact its value, which means you’ll realize a loss should you decide to sell it. While your home insurance policy may shield you from some of the expenses you incur, it may not provide coverage for everything.In addition to regular wear and tear, there's also the possibility that your tenant may cause damage. While in some cases, you can use their security deposit to offset your costs, it won't be sufficient in cases where the damage is significant.Tips for minimizing rental property maintenance costsComplete a move-in and move-out inspection report.A complete walkthrough during the tenant onboarding process will allow you to identify items that need your attention. At the end of a tenancy, you can conduct the same routine to address crucial repairs before finding a new tenant.Perform regular inspections.Check up on your property regularly to ensure things are in good order. At a minimum, conducting a review twice yearly is wise, typically in the fall and spring. Older properties may require frequent inspections, as they're more prone to deterioration.Address all repair work immediately.The longer you wait, the greater the chance that a trivial problem, such as a water leak or a clogged pipe, becomes an expensive repair.Assign maintenance duties to your tenant.Clarify with your tenant their maintenance duties while living in the rental. Ensure you give them clear instructions on how to carry out each task and check in on them occasionally to see if they have any questions.Partner with a property management company.A reputable property manager has the experience, knowledge, and contracts with various service providers to keep your rental in top shape—and at an affordable rate.  Risk #3: Running into legal troubleTo operate a rental property business, you must comply with various local rules and regulations. These laws aim to keep your tenants safe from harm and protect their legal rights. If you fail to abide by these laws, you face stiff financial penalties or lawsuits. Local authorities can also shut down your rental operation. First, your rental must adhere to your jurisdiction's zoning laws, building codes, fire codes, and health and safety standards. In other words, it must be fit for habitation.For example, if you're looking to set up a basement suite in your house, you must check if you're legally allowed to do so in your neighbourhood. You may also need to obtain several permits to ensure your unit meets occupancy standards and do some remodelling to get it up to par.You may also encounter legal trouble if you ask tenants specific questions during the screening process. Certain inquiries are deemed illegal by your region's Human Rights Code. Each jurisdiction also has rules that address how you can run your rental business, including:The amount you can increase your rent by and how often you can do soThe types of clauses you can include in your lease agreementThe amount of notice you must provide your tenant before entering the propertyHow and when you can temporarily evict a tenant to perform extensive renovationsThe type of maintenance duties you can assign to your tenant while they live on your propertyViolating these rules can spur your tenants to file complaints with the court, possibly leading to fines and lawsuits.Tips for staying out of legal troubleFamiliarize yourself with local laws and regulations.Visit your municipality’s and province's websites to educate yourself about your legal obligations as a landlord. Also, get to know the tenant screening laws in Canada and the U.S.Seek legal counsel if needed.Unsure about the legality of a specific property renovation or clause in your lease agreement? If so, consult with a lawyer specializing in real estate law. It's a small price to avoid legal issues that can cost you a bundle down the road.Hire a property manager.A seasoned property manager has the knowledge and experience to help you navigate the legal real estate environment. Structure your rental business as a corporation.Setting up your rental property as a corporation will help shield your personal assets from lawsuits. Risk #4: Failing to turn a profitProper money management is essential to a thriving rental business. You need to know where you stand financially throughout the year to avoid making poor decisions with your money. Inappropriate, late, or inaccurate financial figures can quickly lead you into financial trouble.For example, you can easily overspend if you fail to create a budget and track your expenses. Whatever rental income you earn won't be sufficient to cover these costs, leading to a loss for the year.In addition, if your cash flow falls into negative territory, you risk falling behind on critical bills, such as your property's mortgage. Failing to keep up with your mortgage payments may result in your lender foreclosing on the property.Choosing a suboptimal rent price can also lead to financial hardship for your rental business. You may realize a loss at year-end if you select a price way below the market average. Conversely, if your rent is too steep, you'll fail to attract renters, resulting in prolonged vacancies and a drop in revenue.Tips for managing the financial risks of a rental property:Establish an emergency fund for unexpected expenses.The easiest way to begin setting aside money is to take out a portion of each rent payment you receive and deposit the funds in a savings account.Stay on top of rental market trends.Monitor the state of the real estate market to ensure that your rent price is reasonable and in line with current trends. Doing so will help you stay competitive and reduce the risk of lengthy vacancies.Spend wisely on property upgrades.Avoid stretching your budget on lavish renovations. Only enhance your rental as needed to appeal to tenants and maintain its value. For large-scale renovations, crunch some numbers to see if the project will boost your property's value or allow you to charge a higher rental fee.Take accounting and taxes seriously.Stay current with your books and taxes to know how well you're doing financially. If you hate doing paperwork, hiring an accountant or bookkeeper to help you is a good idea.Risk #5: Not getting the right insurance coverageThe right insurance coverage is always money well spent—you never know what kinds of unexpected events you may encounter as a landlord. However, the wrong insurance policy can spell financial disaster for your rental business. If your policy doesn't offer sufficient coverage, you could be on the hook for colossal repair, legal, or medical bills.First, rental property insurance protects your rental against physical damage. This includes damage stemming from fire, wind, hail, and various natural disasters, like floods and earthquakes.Second, it provides you with liability protection. Suppose a court ruling deems you responsible for injuries sustained by your tenant. In that case, your insurance provider will pay for the legal and medical costs you incur from the lawsuit.Rent default insurance is also available, which covers your rental income for a limited period should your tenant fail to pay their rent.If your rental property insurance contains sizable gaps in coverage in the above areas, you could be financially vulnerable and not even know it.Tips for managing insurance risk for a rental property:Assess what type of coverage you require.Determine what kind of coverage you'll need based on your circumstances. For example, if your property is in an area prone to flooding, get a policy containing a rider for this type of disaster.Do extensive research on your insurance options.Review policies from multiple insurance providers to understand your choices, the type of coverage you can expect, and your annual premium.Request that your tenant obtain their own insurance.To lower your risk exposure, include in your lease agreement that tenants must acquire renter's insurance. This policy reimburses tenants for their personal possessions if they become damaged or stolen. It also provides liability protection in case a guest gets injured while on your property.The rewards of effectively managing a rental propertyAs long as you take the appropriate steps to manage the risks of rental property ownership, you can reap the rewards, including the following.Reliable revenueA successful rental property will generate consistent monthly income for you for many years. Provided your unit remains occupied, you'll collect rent payments like clockwork and earn a healthy profit margin each year. Because most leases span at least one year, you can expect predictable cash flow with little to no fluctuations.Potential for property appreciationIn addition to dependable monthly income, your rental property's value may also increase over time. Like the stock market, real estate prices tend to rise over the long run. Therefore, if you take proper care of your property and make financially shrewd renovations, you stand to earn a tidy profit should you decide to sell it in the future. Less stressProperty damage, rent payment defaults, drawn-out evictions, hostile tenants, and hefty lawsuits can negatively affect your physical and mental well-being. But if you minimize your exposure to these nightmare scenarios, you won't need to be on guard constantly and spend hours each day working to resolve them. Practicing good property risk management will eliminate a lot of stress and anxiety. Our final thoughtsOwning a rental property can be a lucrative business venture and personally rewarding. Still, there are risks involved in being a landlord, like costly repairs and maintenance, legal disputes, and of course, getting stuck with a tenant who suddenly stops paying their rent.The good news is that careful planning and research can help you avoid many of these issues. Some solutions include setting up a comprehensive tenant screening process, conducting routine property inspections, performing regular maintenance, staying up to date with your books, analyzing rental market trends, and complying with local real estate laws. Setting up the proper measures upfront will save you from plenty of hassles, headaches, and financial turmoil, as you work toward becoming a successful rental property owner. --- ### How Landlords Decide on Approving Tenants [How Landlords Decide on Approving Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/how-landlords-decide-on-approving-tenants/) Meta: Based on our landlord survey, learn expert tips and insights to improve the tenant screening process so you can find your ideal tenant. Date: June 23, 2023 Author: SingleKey Content: In a recent survey, we asked more than 200 landlords how they choose new tenants. The most popular deciding factors in approving applicants are a good income and steady employment. Having an ideal tenant is a dream come true for most property managers. Occasionally, landlords end up with only a handful of options. We'll explore all the responses from our survey and determine how enlisting an online tenant screening service will get landlords the best results. Good income and steady employment Nearly 44% of landlords agreed that having a good income and steady employment are significant factors in choosing a tenant. According to another SingleKey survey where landlords were asked about their biggest fears, non-payment or not paying rent on time was their highest concern.  These correlating responses indicate that property owners prioritize their rental income above other factors, including criminal history, rental history, background checks, and a social media scan. Proof of income is essential to determine if the applicant can afford rent payments. Aside from the rent-to-income ratio, a screening report will provide additional information, like a prospective tenant's debt-to-income ratio. This figure shows landlords if a prospective tenant can manage their fixed monthly payments in addition to rent. If a renter has minimal debt, the rent-to-income ratio will increase. A tenant screening report will also reveal credit history.  Thorough application with no falsified information Over 31% of landlords said their determining factor for accepting less-than-ideal tenants was a completed application with accurate information. . More information about an applicant can increase the chances of finding a better tenant. Ascertaining a comprehensive tenant screening report, complete with background checks, will give landlords a deeper understanding of a prospective renter. This helps landlords make the most informed decision. Learn how to screen tenants effectively to help you choose the best applicants.  A SingleKey Tenant Report provides detailed and tamper-proof results and is the best way to fact-check any details an applicant includes on their rental application. With a SingleKey Tenant Report, landlords will have access to the following information: Credit scores and credit history Eviction history, if applicable Criminal background, if applicableIncome verification Previous rental property addresses Once a landlord verifies an applicant's identity and income sources, they can apply the formula for the rent-to-income ratio to measure the percentage of income a tenant will use to cover their rent. During the screening process, a tenant credit report is another tool a landlord can use to select a tenant.  Positive references Over 16% of landlords see positive references as a determining factor when selecting a tenant. Some landlords might look beyond financial hardships and a poor credit report when they receive positive references.  While having great references is essential, before drafting a rental agreement, we recommend landlords dig deeper to secure their rental income and safeguard their property. Only looking at positive references has its flaws. More needs to be done during the application process to secure quality tenants. With a credit check, you can verify someone's identity. Potential tenants should prove they have a clean eviction record and their monthly income is enough to cover all fixed expenses, including rent payments. Great communication Less than 9% of landlords considered great communication a determining factor in selecting prospective tenants. Actions and not words are more meaningful to landlords, which is why great communication is the final and least popular determinant. A seemingly good tenant who communicates effectively can have a poor credit history or insufficient income. When applicants view the rental property, the tenant screening begins. Looking beyond those first impressions and obtaining a thorough background check will help you assess applicants by collectively taking stock of their financials and references.  Exclusively looking at a credit score can be deceiving. Learn how to interpret a credit history report to decide if the tenant is financially reliable. Landlords must verify identity, income, credit, and references to reduce the risk of rental scams. Here are some signs you can look for to spot a scam:  Look for conspicuous errors or pertinent information that’s missing. Look for inconsistencies between documents, like name, date of birth, and address. If the font is inconsistent, there are typos, poor grammar, or misspelled words, this could be a sign of a doctored report. Learn more about how to spot fake rental documents. A SingleKey Tenant Report can assuage any concerns about falsified information. Our tamper-proof reports are accurate and delivered in under five minutes.  FAQ: How to improve your odds of renting to a good tenant What criteria are used for tenant selection? Some good examples of criteria to screen prospective tenants effectively include: A good credit history Clean background check Clean eviction history Stable employment history Good rent-to-income ratio Positive reference checks What background check services do most landlords use? An effective tenant screening tool includes a background check, allowing landlords to see vital aspects of a rental applicant’s financial decisions, references, and past behaviour. Typically, landlords use three major credit bureaus to obtain a background check: Experian, Equifax, and TransUnion. SingleKey uses Equifax. A comprehensive background check will provide landlords with the best results. What are considered red flags on a background check? A few components may reflect negatively on an applicant’s background check, mainly a poor credit history. A long history of bad financial choices makes a tenant seem unreliable. Ultimately, a landlord is looking for someone reliable who will pay the rent on time and not destroy their property. Other elements considered unfavourable include a criminal history and eviction history. Our final thoughts With SingleKey’s Tenant Report, you can quickly fill a vacancy with quality tenants. From the tenant screening and application approval, to the collection of the security deposit and the rent payments, you can rely on SingleKey to aid you throughout the rental process. --- ### SingleKey Partners with TELUS [SingleKey Partners with TELUS](https://www.singlekey.com/en/telus-singlekey/) Date: June 23, 2023 Author: SingleKey Content: We're excited to announce our partnership with TELUS! Offer available until December 31, 2023 and is available to new and existing residential customers of Singlekey. Offers are subject to change without notice. Regular prices apply at the end of the promotional period. Offer can only be renewed for customers of SingleKey. The Essentials is required for all Optik TV subscriptions. TELUS reserves the right to modify channel lineups and regular pricing without notice. HDTV-input equipped television required to watch HD. Minimum system requirements apply. Final eligibility for the services will be determined by a TELUS representative. Discount does not apply to any hardware charges, administration and access fees, Internet add-on service charges or one-time charge offers (including, but not limited to Netflix, VideoOn Demand, Pay Per View and premium sports plans). Existing customers must pay any applicable early termination fees if they are currently in a service agreement. TELUS Home Phone service terms apply, visit update to telus.com/serviceterms for details. Taxes and 911 service charges are extra. Calling features available in most areas. Prices may vary by area. Some restrictions apply. Visit telus.com/homephone for details. TELUS and the TELUS logo are trademarks of TELUS Corporation, used under licence. © 2023 TELUS. --- ### The Biggest Red Flags When Tenant Screening [The Biggest Red Flags When Tenant Screening](https://www.singlekey.com/en/ownerkey/tenant-screening/the-biggest-red-flags-when-tenant-screening/) Meta: Based on our survey results, we'll review red flags when tenant screening and landlords' concerns, from insufficient income to bad references. Date: June 21, 2023 Author: SingleKey Content: According to a recent SingleKey survey asking landlords what their biggest concerns are in selecting tenants, nearly half of the respondents indicated that insufficient funds or inconsistent employment history are the biggest red flags. From unstable employment history to negative references, we'll examine the most critical warning signs landlords encounter during the tenant screening process and how they can protect their property. Insufficient income or inconsistent employment history While landlords typically scrutinize a prospective tenant's creditworthiness and previous landlord references, insufficient income and unstable employment history are the most significant warning signs for property managers.  Over 45% of landlords from our survey view insufficient income or inconsistent employment history as a red flag that decisively affects whether they approve a rental applicant. To a small property manager with ten units or less, insufficient funds pose a problem because rental income is a top priority. While landlords examine income sources, they look at the tenant's rent-to-income ratio. At the minimum, you want the prospective tenant to earn three times the amount of the rent. And if an applicant has an inconsistent employment history, that's cause for concern. Most property managers verify employment history to ensure the prospective tenant is not falsifying information. If a tenant can't afford the rent and misses a payment, this can cause financial hardships for small landlords and property owners. Negative references from previous landlords The second biggest deterrent for approving prospective tenants is negative references. According to our survey, nearly 23% of landlords view negative references as red flags. Previous landlords will provide information on the person's behaviour, the rental property condition after they departed the rental, and if they paid rent on time or broke the lease early. These details will help landlords conclude whether they see the applicant as a suitable renter for their property. If the previous landlord responds with concerning feedback about your prospective tenant, this can be considered a red flag.  Start setting expectations and learn to verify a tenant's rental history. Having a list of prepared questions to ask previous landlords about prospective tenants will keep you organized and glean all the information you need to make an informed decision. To give landlords a general idea of questions to ask previous landlords, here is a checklist:  Can you confirm the details of this tenant?  Did this tenant pay rent on time?  Did the tenant cause damage to the rental property? Is there anything else I should know? All landlords and property managers should familiarize themselves with the Fair Housing Laws before screening a potential renter. Landlords should have a consent form included with the rental application. Once you've spoken with a previous landlord, conduct a follow-up interview with the prospective tenants to hear their responses to the previous landlord's feedback. If a landlord discovers the prospective renter has no prior rental history, here is a list of things to look at during the screening process:  Credit reports and credit scores Mortgage payments, if applicable Background check and criminal history Employment references (with consent) Proof of income An applicant may have no previous rental or eviction history, but in the unlikely event that they were homeowners first, you can see if they made any late payments on their mortgage or property taxes. While a credit score can be misleading, running a credit check and reviewing the prospective renter's credit history will give you a better idea of how financially reliable an applicant was in the past. A background check is essential in ensuring that the tenant has no prior disruptive behaviour, like property damage or disturbing the peace. You want to  protect your rental property and ensure your other tenants are happy if you have multiple units nearby.. Learn more about the details you can find in a background check. Objection to running a credit check It may be suspect if a tenant refuses to consent to a credit check. Just over 17% of landlords surveyed see an objection to running a credit check as a significant red flag. There could be some resolvable contributing factors as to why an applicant prefers to withhold this information. Suppose you have a limited selection of applicants, and you favour a tenant refusing to consent to a credit check. In that case, you can ask them about their concerns and tactfully inform your applicant that you require criminal background checks and a credit check for approval before you can draft a rental agreement. As a landlord, navigating tenant screening questions can be tricky because you want to avoid overstepping your legal boundaries with statements that could be held against you. Here are potential reasons why a prospective tenant would choose not to consent to a credit check in the screening report:  They have a low credit score and are concerned you will judge them solely on their score. They are worried that you will not judge the credit history fairly. They have a poor credit history and a lot of debt. Learn how to examine a credit report to form an educated decision.  Emphasis on personal hardships Less than 12% of landlords viewed personal hardships as a red flag. As long as an applicant has a good credit history, steady employment, verified income source, and no criminal record of disruptive behaviour or property damage, personal hardships should rank low during the tenant screening process. Here are some examples of what is considered a personal hardship: Illness or a severe injury of a tenant or dependent of a tenant Psychological distress Loss of higher-earning tenant income due to separation, divorce, or death of a loved one Other financial hardships, including loss of primary income To ease your concerns about renting to tenants who could be potentially risky, use an online tenant screening report to reveal how reliable a prospective tenant might be. Make sure you speak with previous landlords to learn if they had healthy relationships with your prospective tenants and if they paid rent on time.  Owning an unreasonable number of pets Allowing multiple pets to reside inside your rental property could have zero adverse effects. When all things are considered, such as the breed, age, and agreed-upon pet security deposit, there should be no issues with a tenant having multiple pets. Less than 4% of landlords were concerned with tenants having a lot of pets living in their rental property.  While most landlords accept multiple pets with specific provisions, some might believe  that pets can be a source of stress for various reasons. Depending on regional laws, a landlord can refuse to allow a pet to reside on the property.  Property managers should include a "no pets allowed without the owner's consent" provision in the addendum or lease.  FAQ: Understanding what makes a good tenant What makes a great tenant? There are certain qualities that make an individual more likely to be a reliable tenant. These include a history of paying rent on time, a good rent-to-income ratio (30% or higher), no history of disruptive behaviour, and a good credit history. What are the top tenant screening questions? Tenant screening questions allow landlords to get acquainted with the prospective tenant and conclude if they are a good fit as a renter. Here are 9 questions landlords need to ask potential tenants. What type of tenant-related questions can a landlord ask a previous landlord? When contacting a previous landlord for a potential tenant’s reference, here are some key questions to ask: Why did the tenants leave your rental property? How long did the tenant live at your rental property? What was the tenant’s rental amount and payment history? What was your overall experience renting to the tenant? Did the tenant give proper notice before leaving the property? Have you received any complaints about the tenant from the neighbours? How well did the tenant communicate rental needs (e.g., maintenance, rent delays, etc.)? Our final thoughts Screening a tenant doesn't have to be intimidating. Get a comprehensive Tenant Report from SingleKey that removes any guesswork on whether a tenant will be reliable and pay rent on time. You can easily narrow your selection of applicants to an ideal pool with valuable information accessible in five minutes.  --- ### How Tenant Screening Platforms like SingleKey Help First-time Landlords [How Tenant Screening Platforms like SingleKey Help First-time Landlords](https://www.singlekey.com/en/tenant-report/how-tenant-screening-platforms-like-singlekey-help-first-time-landlords/) Meta: Tenant screening platforms offer powerful and precise industry solutions for first-time landlords and property managers looking for great tenants. Date: June 19, 2023 Author: SingleKey Content: First-time landlords can find everything they need to vet potential renters with the right tenant screening tools that provide instant and accurate background reports.SingleKey's Tenant Report provides one record to help pinpoint the top contenders out of a stack of applications, ensuring your investment property is in good hands.Whether you're new to property management or have had the unfortunate experience of renting to delinquent occupants, this guide will break down how tenant screening platforms like SingleKey will serve you in your pursuit to find an ideal tenant.What is a tenant screening platform?A tenant screening platform is designed to help consolidate all of the information a landlord collects during the screening process. It's a place where landlords can zero in on pertinent background information. Some features of a tenant screening platform include:Downloadable rental applicationsRent reportingInstant reportsCriminal background checkIncome insightLandlord tipsUser-friendly tools for first-time landlordsHow to use SingleKey’s tenant screening platformThere are two ways to get started with the screening process on SingleKey. First, new users should create an account. Once you have logged into your account, click the “Order New Report” button at the top right corner of the page. Once logged in, you have two options to request a tenant report: invite the tenant to enter their information, or you can enter the tenant's information yourself. Learn more about how to screen tenants with SingleKey in this step-by-step guide.What's included in a SingleKey Tenant Report?Along with a customized rundown of the applicant's scores, including credit score, debt-to-income ratio, and rent-to-income ratio, you'll receive extensive information on the applicant that includes their personal identification information, employment history, and residential history.Explore SingleKey’s sample report for full details and learn how you can apply this vital background information in your tenant selection process.The benefits of SingleKey’s tenant screening platformMany laws and reforms prohibit certain tenant screening questions. SingleKey offers a free pre-screening form and templates of appropriate pre-screening questions that will help you collect only the most essential information so you can choose a tenant wisely.There are many benefits to using SingleKey's tenant screening platform, including:Taking the guesswork out of finding the ideal tenant, especially for first-time landlordsReducing and streamlining administrative work for landlordsProviding accurate and fair information to verify the applicant's detailsCollecting the essential data needed to make an informed decision in one easily accessible placeFind out more about the benefits of using SingleKey’s tenant screening platform.Why is tenant screening important? If you own an investment property and are entertaining the idea of becoming a landlord, there are many pros and cons to consider. While renting out an investment property can be a lucrative job in ideal circumstances, leasing to unreliable and disruptive tenants can be a headache-inducing money pit for property owners.All of the common questions that emerge when interviewing a prospective tenant are answered in a tenant screening report. We'll explore the challenges of property management and explain how tenant screening platforms can help you screen tenants like a pro. Improving tenant selection The tenant screening process involves checking each applicant's financial history and other relevant information within the boundaries of local and state laws, including:Confirming the applicant's identityCorroborating employment history and income Pulling credit scores and credit history reportsConfirming their ability to make rent payments on timeLearning about their rental history and experiences with previous landlordsCollecting and summarizing criminal background informationChoosing reliable tenantsA significant part of the tenant screening report is the credit report, which contains information on debts, provides a credit score, and prompts the following questions for you to consider:Does this person have a history of paying bills on time?How much debt do they have?What is their primary income, and do they have other sources of income?The answers to these questions will surface in a tenant screening report and help you determine whether you think the person is reliable, will pay rent on time, or if their rent-to-income ratio will be enough to cover rent.Credit score considerationsEach time you pull a credit history report, you should consider all of the contributing factors of the credit check. For example, suppose one applicant has a high credit score, a high income, and stellar references, but they have a significant student loan debt with multiple student loan forbearance notes. This hypothetical applicant may not be considered a risk if they have a good income ratio and everything else checks out favourably.While a single debt may stand out negatively, you must look at the bigger picture to compare how it all adds up. This information is valuable because you can always follow up with the applicant with further questions regarding the debt information that came to light.Ultimately, it's up to the property manager's discretion whether they will consider someone as a candidate. Essentially, you're looking at how each applicant stacks up financially and how reliable they were in making rent payments in the past. The top candidate is, of course, the safest bet to ensure on-time rent payments.Managing the risk of property damage Before any further steps in the rental process are taken, it's vital to incorporate a background check in the screening process. This check could reveal various types of criminal records that a landlord should consider carefully.Once the screening process is complete, the application is approved, the lease is signed, and the vacant property is inspected to document any damages. Typically, insurance companies will cover weather-related property damage, leaks, and fire-related damages.Preventing evictionScreening with background checks helps reduce the risk of eviction significantly. It's also up to the landlord to establish clear communication when setting expectations for keeping the property safe, paying rent on time, applying late fees, and respecting other nearby tenants.If you're new to property management, the best thing you can do, aside from incorporating screening tools when reviewing potential tenants' applications, is to become well-versed with discrimination and eviction laws. A proper tenant screening platform can help educate first-time landlords with a wealth of resources and information.FAQ: Tenant screening fundamentalsO What are the three most crucial things you should consider before renting to a tenant? Before renting to a potential tenant, the three essential items to consider are income verification, financial standing, and rental history. Note that while these three factors are important, it’s wise to consider all available information about the prospective renter. How can I screen for the best tenants? Discover the best tenants by using the information found in tenant screening reports. This may include details about the applicant’s  financial standing, credit history, criminal background, employment, and rental history. This will allow you to do your due diligence as you verify the information found in the report. What does SingleKey offer? SingleKey is a tenant screening platform with three primary features available to landlords: the Tenant Report to help screen tenants, Rent Collection to automate rent payments, and the Rent Guarantee Program to cover the risks associated with managing rental properties. The Tenant Report offers a comprehensive, easy-to-understand report on potential tenants. It summarizes vital aspects of the tenant’s financial history, credit history, employment history, and rent-to-income ratio. Our final thoughtsThe rental process is stressful, especially when it comes to choosing a tenant who suits your requirements. Tenant screening platforms like SingleKey streamline the rental process, and with SingleKey's Tenant Report, you'll have the most reliable information to take the manual effort and stress out of filling a rental vacancy.  --- ### How Do Landlords Screen Tenants? [How Do Landlords Screen Tenants?](https://www.singlekey.com/en/ownerkey/tenant-screening/how-do-landlords-screen-tenants/) Meta: Landlords prefer an unbias method of vetting to screen tenants. Our survey results suggest using an online service is the preferred solution. Date: June 16, 2023 Author: SingleKey Content: SingleKey surveyed over 200 property managers recently to learn their preferred methods for managing the tenant screening process. The results suggest that most landlords favour using an online tenant screening service. Online tenant screening services provide landlords with relevant information to help them deduce the best candidates for their rental units. We'll review the various approaches landlords use to screen tenants and rank each response. Use an online tenant screening serviceThe survey found that 50 percent of respondents employ an online tenant screening service to help filter prospective tenant applications to find their ideal tenant. Utilizing an online tenant screening platform will expand the scope of your search by providing comprehensive reports that include pertinent information on potential tenants that include:Criminal background checksCredit historyEviction recordsIncome verificationOnline tenant screening services have been a lifeline for many landlords looking to protect their property and ensure timely rent payments. Virtually all online tenant screening reports can be purchased by landlords with an applicant's consent at affordable costs.While enlisting an employee may seem like an adequate and less expensive recourse, a lot can fall through the cracks, and with a SingleKey Tenant Report, you are guaranteed to get accurate results fast. Hiring a realtor, real estate attorney, or contractor can become costly. Small landlords owning 50 or fewer rental units benefit the most from cost-effective, fast, and reliable tenant screening results.The do-it-yourself approach to tenant screening Less than 40 percent of landlords take it upon themselves to screen tenants by solely calling references. This method is problematic for several reasons. Most professional property managers report that calling references is essential in checking if the prospective tenant has a good standing relationship with previous landlords. However, all of the other relevant information, such as criminal history and credit scores, will be beyond the landlord's purview when considering a potential tenant for the rental property.A landlord needs to ask a prospective tenant many questions during the screening process. With income verification, a landlord will know if the applicant has a good rent-to-income ratio. Tenant screening reports also reveal criminal history, credit scores, and hard inquiries on a credit report. A landlord will want to know if the applicant has made sound financial decisions in the past, or if they have substantial debt. There's always the possibility that a prospective tenant will falsify information on their application, including employment history and tenant references. Before landlords can verify employment history, they must get consent from the applicant. Learn how to verify employment history for potential renters by following these guidelines:Get permission to verify employment historyContact employer to confirm employment statusRequest previous pay stubs or proof of incomeIn addition to confirming employment status, you can ensure potential renters have a good rent-to-income ratio. A handy tool for landlords is the formula for determining the rent-to-income ratio: (monthly rent/gross income) x 100.Credit checks can paint a big picture of an applicant's debt-to-income ratio. This figure will help you to quantify if the potential tenant can afford the monthly fixed payments and rent. Hire a third party to help screen tenantsJust over 9 percent of homeowners would consider hiring a third party to screen their tenants. A third party can include a professional property manager that is not the property owner, a realtor or contractor specializing in rental properties, or a real estate agent acting as a property manager. If you're a homeowner looking to hire a property manager to handle the entire rental process, a property manager typically will charge a monthly fee. The fee varies depending on the city and the property management company. Expect to pay between 5 percent and 15 percent or more of the rent. There are numerous methods of screening that a property manager may use, including pulling a credit report or checking references. Interviewing a property manager is equally important as interviewing a prospective tenant. You want to ensure they adequately screen prospective tenants and will be adept at handling problems if they should arise. Another point to note is that it's uncommon for property owners to have a real estate attorney on hand overseeing the vetting and rental process unless the rental units are luxury, high-rises, or the rental is in a location where it's customary to have a lawyer conduct the vetting process. There may be more to understand in these instances and having a lawyer would make more sense. Costs can quickly add up with a third party managing the tenant screening process. For landlords operating less than 50 rental units, it's more economical to use a self-serve tenant screening platform.Delegate tenant screening tasks to staff Only one percent of landlords delegate the tenant screening process to their staff. Tenant screening is one of the most vital steps in the rental process, which is why most homeowners recruit the help of an online tenant screening service instead of entrusting this task to a staff member. With an online tenant screening service, landlords can rest assured that nothing will fall through the cracks. Before landlords approve a prospective tenant, they must prioritize a quick and foolproof method that ensures the renter is trustworthy and can pay the rent. With a tenant screening service like SingleKey, there are resources and features built in to ensure property management is risk free. For example, SingleKey provides landlords with resources to understand how to navigate the Fair Housing Laws and other regional reforms.FAQ: How do landlords screen tenants? How do you screen for the best tenants? The most extensive and effective way to screen rental applicants is by using an online tenant screening service that produces quick and tamperproof results. Here are steps you can take to screen tenants like a pro using this screening checklist for landlords: Confirm applicant’s identityCheck referencesVerify incomeReview credit reportsConduct a background checkBefore you can run a background check to verify employment history and rental history, you must obtain consent and ask for the following information: Basic information, including full name, DOB, residential address(Optional) Social Insurance Number (SIN) Drivers license number Previous addressesEmail addressProof of income, including paystubs How do I protect myself as a landlord? There are various ways you can protect yourself as a landlord:Understand the tenant screening laws in Canada and the tenant screening laws in the U.S.Screen tenants carefullyIncorporate a lease agreementObtain a security depositConduct multiple inspectionsKeep all rental documents organizedUsing a SingleKey Tenant Report will reveal criminal records during the application process and help minimize the risk of late payments. The report also helps you confirm a person’s sources of income, which is a helpful indicator of a prospective tenant’s financial stability. How do you find tenants? Attracting tenants to your property can be accomplished in various ways, including: Placing an advertisement on a rental listing websiteWord of mouthPutting a “For Rent” sign on the propertyAdvertising on social mediaUsing all of these methods of advertising will attract the most attention. Our final thoughtsProfessional support in the tenant screening process and access to helpful features in a tenant screening platform can relieve your rental concerns. Services like SingleKey offer top-of-the-line features and resources, as well as a comprehensive Tenant Report, to help you find the best tenant for your rental property. --- ### Why SingleKey Provides the Best Tenant Screening Service [Why SingleKey Provides the Best Tenant Screening Service](https://www.singlekey.com/en/tenant-report/why-singlekey-provides-the-best-tenant-screening-service/) Meta: A top tenant screening service includes background checks, credit reports, references, and accurate financial and rental history about an applicant. Date: June 15, 2023 Author: SingleKey Content: Finding the right tenant is virtually effortless with a thorough tenant screening service. With SingleKey, landlords will receive fast and comprehensive results on all prospective tenants, including background checks, credit history, social media scans, income confirmation, and more.Learn how a tenant screening service like SingleKey can unveil a detailed report that extracts background information and valuable insights into potential renters. Whether you have various rental listings or plan on renting out one property, a good screening service can streamline and optimize the application process. What is tenant screening?Tenant screening services help landlords make informed decisions when sifting through rental applications. They provide valuable insights into each rental applicant and reveal their reliability as a tenant according to their financial standing and rental history.Becoming a landlord may sound like a straightforward business opportunity. While some aspiring investors imagine people clamouring to their rental property, ready with payment and an immaculate record, it takes a comprehensive analysis of each application to find a quality lessee.A troublesome tenant can cause landlords grief and money, requiring them to invest more time than they initially expected to spend on a rental property. That's why a tenant screening company can provide landlords with a better sense of an applicant's background, including:Credit historyEviction recordIncome verification and income insightsCriminal background reportLearn how a comprehensive tenant screening service, like SingleKey, professionally screens tenants and provides a trusted source of information for landlords. This guide shares how SingleKey simplifies the screening process for an optimal landlord-tenant experience. What are the features of SingleKey's tenant screening services?Think of tenant screening as a puzzle. A clear and broad picture of the tenant emerges with each piece of data. With SingleKey's Tenant Report, landlords will have access to the following details: Personal identificationCredit checkBackground checkSocial media scanCourt record searchIncome and employment verificationID verificationCheck out SingleKey's sample report for an intuitive, fool-proof record to help curate a top-notch candidate list. In it, property managers will find SingleKey's scoring charts divided into three integral categories that include: Credit scoreRent to incomeDebt to incomeIn addition to the rental screening score, the report will examine other relevant details about the potential tenant, including whether they have a pet, are a smoker, have filed for bankruptcy, or have been convicted of a felony. If the prospective renter checks any boxes perceived as unfavourable, the report digs deeper into criminal background checks, with short descriptions of each type of charge under their criminal history.What are the benefits of using SingleKey for tenant screening?SingleKey simplifies the screening process by ensuring fairness and reducing the landlord's risk. Lessors can expect an extensive, all-in-one screening package of data-driven results. Using SingleKey's tenant screening service is far easier than property managers sourcing and collecting the information independently. There are two ways to order a credit and background check through SingleKey. First, if the landlord has an applicant’s consent, they can opt to input the prospective tenant’s information. This method usually provides results in under five minutes. The landlord pays for the application fee and screening costs using this method. The second way for a landlord to order a Tenant Report is by inviting the tenant to complete the digital form themselves. The landlord can choose whether the prospective tenant will pay or if the landlord will cover the cost of the screening fee. The information will be available when the tenant completes the online application. Potential renters will upload personal identification documents, proof of income, employment history, pet photos, and other pertinent details, like consent for pulling background checks. Both methods provide the following screening report facts on potential tenants: Detailed credit reports and background checks, including eviction history, eviction reports, and criminal reports Complimentary report review callID verification using AI-powered technologyRental income protection when you upgrade to the Rent Guarantee programA downloadable rental application Pre-screening and screening applicants will improve the tenant selection processBy incorporating a customizable pre-screening form into the rental process, property managers can quickly remove any applicants whose finances, personal habits, and desired lease terms don't align with their expectations. Take the guesswork out of a tenant-landlord renting endeavour in three easy steps with SingleKey: Uncover potential risks and red flags: Choose a safe tenant with a comprehensive tenant screening service.Get on-time payments: With optional automated monthly deposits, tenants are incentivized to make on-time payments because their rent payments are reported to a credit bureau.Guarantee your income: You’ll have a financial safety net and damage protection if a tenant defaults on their rent.Explore more of the benefits of using SingleKey to screen tenants.FAQ: Reports for landlords, the application process, and credit inquiries What is a tenant screening service? A tenant screening service digs deep into a prospective renter’s past, uncovering anything from credit history, employment status, salary verification, previous address, criminal records, eviction notices, and more. This helps landlords discover if an applicant is financially stable, reliable, and trustworthy before their rental application is approved.  What background check do most landlords use? A background check is included in the tenant screening service, using a major credit bureau to run a report that shows a record of past behaviour, including financial credit history. The three major credit bureaus include: TransUnionEquifaxExperianOf these three credit reporting agencies, SingleKey uses Equifax and TransUnion to run credit checks. How do independent landlords screen for the best tenants? To find the best tenants, landlords will typically use a screening process that includes the following steps:Pre-screen tenants ensuring income and lease expectations align.Ask for previous address history.Ask for previous landlord information to obtain rental history reports and payment history, especially late payments or unpaid rent.Contact credit reporting agencies for the tenant’s credit history.Obtain their email address and a copy of a government-issued ID. Request written consent to pull background check reports for criminal records.Employ property management companies. Accept or reject the renter application. How much does it cost to run credit checks? Running a credit check on a prospective tenant costs between $15 to $40. Anyone who has the task of approving applications should understand how to read credit reports. Lines of credit can appear on credit reports, and sometimes the credit can fluctuate. The rental application process goes beyond checking credit. Other details to consider are eviction history reports, civil judgments, criminal history, and excessive late payments or unpaid rent.A good option for landlords, if they need help with interpreting reports, is to source a reliable tenant screening provider that can also offer comprehensive services, such as an affordable screening package, screening reviews, rent collection, and rent guarantee. Our final thoughtsSingleKey offers landlords vital features, including near-instant reports and additional tools for online rent payments, with a user-friendly website to ensure a successful tenant-landlord relationship. By providing property owners and managers with credit history pulled from a trusted credit reporting bureau, income verification, background search reports, criminal background reports, and a record of any previous evictions or late payments, they can deduce whether they want to consider an applicant as a potential renter. Find out more about how a SingleKey Tenant Report can help you efficiently select your next tenant. --- ### Questions You Need to Ask in a Landlord Reference Check [Questions You Need to Ask in a Landlord Reference Check](https://www.singlekey.com/en/ownerkey/tenant-screening/questions-to-ask-in-a-landlord-reference-check/) Meta: Here are the key questions to ask in a landlord reference check to help you decide whether a potential tenant is a good fit for your rental. Date: June 9, 2023 Author: Mark Gregorski Content: It's impossible to predict how an applicant will behave once you accept them as your tenant. Insight from a previous landlord can provide clues about what you can expect, whether positive or negative. Conducting a landlord reference check will allow you to learn:How an applicant is likely to treat your propertyHow well they'll get along with your neighboursHow open and friendly they are in their communicationWhether they’ll meet their rent payment deadlinesIn this article, we'll outline which questions to ask landlords and why it's crucial to ask them. How many landlords do you need to contact?Before reaching out to do a landlord reference check, it's essential to consider exactly how far back you need to delve into the past. Should you just stick to the most recent landlord? Or is it better to contact multiple landlords?In most cases, the best tactic is to contact an applicant's current landlord (assuming they still need to move out) and at least one previous landlord.Interviewing at least two landlord references will enable you to obtain enough details about an applicant's present circumstances and get to know them as a person and renter. Why two? The reason is that one landlord's perspective and opinion about the application may be misleading. For example, the current landlord may have engaged in fierce arguments with them over late rent payments and property damage they caused. The landlord may be frantically trying to get rid of them. The opposite scenario can occur, too. For instance, the current landlord may have a personal vendetta against the applicant over something frivolous. In both scenarios, the feedback you receive while completing a landlord reference check might be skewed.Remember: not all landlord references are reliable. This is why getting a second opinion from at least one other landlord is wise. You'll get a more accurate picture of the applicant and their rental history.Contacting at least two landlords will also allow you to confirm basic details about the applicant, such as name, length of tenancy, current address, for consistency. You can also cross-reference this information with the details provided by the applicant on their rental application form.Questions to ask in a landlord reference checkThere's no need to conduct a long-winded interview with a landlord. Typically, only a few inquiries will provide you with the details you need to make a reliable assessment of your applicant. The following list of questions is a great starting point if you need help deciding what to ask. You can also download this landlord reference check cheat sheet. Question # 1: Can you confirm a few details about the tenant?A great way to begin your interview is to ask the landlord if they'd be willing to verify some basic details about the applicant. These include, but are not limited to, the following:NameCurrent addressContact informationLength of the tenancyMonthly rent amount Asking this question will allow you to determine if the applicant has been honest and transparent regarding the information that they've disclosed to you. Pro Tip: Follow up with the applicant if you find a discrepancy between the answers you receive from  a previous or current landlord and what the tenant has submitted on their application.Question #2: Did the tenant pay rent on time regularly and in full?Rent payments are what make or break your rental business, so it’s important to inquire with landlords about the applicant’s current payment habits.This will help you assess how responsible they are and what you can expect should you offer them a lease agreement.Suppose the landlord mentions that the applicant paid rent late on one occasion. In that case, you can ask follow-up questions to learn why the situation occurred and the outcome:Did the applicant inform you that they would miss a rent payment?Did the applicant maintain open communication and work diligently to catch up on the missed payment?Was there a valid excuse for not paying on time (such as a medical emergency)?If the answer is yes to all three questions, that's a good sign the applicant is honest and dependable.Pro Tip: Dig a bit further to understand a prospective tenant’s rental payment history. Ask if the tenant left the rental property owing any unpaid rent.Question #3: Did the tenant cause any damage to your rental property or violate any terms of their lease agreement?While the most important attribute in a tenant is the ability to pay rent on time, you also want them to keep your rental property in good order. And, of course, they must adhere to the terms of your lease agreement. As a result, it's wise to include this question in a landlord reference check so you can understand how well the applicant cared for the property and if they will follow the terms of the lease agreement.You could also face complaints from neighbours if your tenant is disruptive or threatening. A messy living space can lead to health, safety, and fire code violations in extreme cases.Pro Tip: Previous behaviour is a good reflection of how a potential tenant will treat your rental property and if they will adhere to the terms of the rental agreement.Question #4: Did the tenant give you proper notice of their intention to move out, and do you foresee giving back their deposit in full?A tenant must give their landlord sufficient notice if they choose to move out. The number of days required varies based on the tenancy laws in the province or territory and whether the lease term is fixed or periodic. For example, in Ontario, if a tenant rents month-to-month, they must give their landlord 60 days' notice when moving out.Pro Tip: If a tenant fails to give proper notice or does not receive their security deposit back in full, this is a warning sign. Learn more about recognizing other tenant red flags.  Question #5: Is there anything else I should know about the tenant?This is a great closing question, as it allows the landlord to speak freely about their experience with the applicant. In doing so, they may share some crucial details that will make your decision easier. In addition, since you're not pressuring the landlord to answer any specific questions, some of which may be sensitive, you don't need to worry about breaching any privacy laws. Pro Tip: Always listen. Take the time to digest the information you get during a landlord reference check. This can lead you to ask important follow-up questions and gain essential insights that you could have otherwise missed. Our final thoughtsAs the saying goes, "Actions speak louder than words." And one of the best ways to gather factual details about an applicant's personality, habits, and tendencies is by speaking with their current and past landlords.While a landlord reference check is a vital aspect of the tenant screening process, you should never rely solely on it as the deciding factor for accepting or denying an applicant.Screening a prospective tenant involves several steps, including interviewing the individual, verifying their employment, and running credit and background checks. Analyzing these factors alongside a landlord reference check will provide a more complete picture of a potential renter’s suitability. --- ### Greatest Fears in Property Management [Greatest Fears in Property Management](https://www.singlekey.com/en/ownerkey/tenant-screening/greatest-fears-in-property-management/) Meta: We discovered landlords’ biggest fears in property management, ranging from non-payment of rent to property damage, and shared solutions. Date: June 8, 2023 Author: SingleKey Content: The inherent risks of being a landlord leave even the most experienced property managers a little taken aback when their biggest tenant-related fears come true.SingleKey developed a survey to discover landlords' fears when it comes to finding the right tenant for their rental properties. This guide will review and rank a property manager's biggest concerns and share solutions for vetting and approving ideal tenants.Non-payment of rent or late paymentsWhen SingleKey asked landlords what their greatest fear was, just under half said their biggest concern was unpaid rent or late payments. Whether a tenant is delinquent or stops paying their rent, the outcome can create a negative cash flow for many property owners, leading to a distressing financial situation. Property management can be challenging. Late rental payments are a palpable fear. If you're a property owner who decides to take on the role of a landlord, you must do your due diligence to reduce the risk of approving a tenant with a history of falling behind on rent. Even then, unforeseen events can occur, where tenants are late on rent by no fault of their own. When a unit is empty, a landlord loses rental income. If a unit is occupied and the tenant fails to make payments, you lose rental income and have the added responsibility of resolving a payment schedule with the tenant. If a landlord cannot come to a reasonable solution with a tenant, the final option is eviction if non-payment continues. In addition to having a tenant who is delinquent and occupying your rental, there are excessive administrative duties, extra fees, and long wait times many landlords must endure. Evicting a tenant can seem interminable due to backlogs and court delays––these factors validate the fear of unpaid rent.How late can a tenant be on rent before eviction?In British Columbia, if current tenants fail to pay rent by midnight on the due date, a landlord can submit a 10-day notice to end the tenancy, beginning the day after the rent is due. When a current tenant is late on utilities, a landlord can issue an eviction notice 30 days after submitting a written notice for a utility payment request. In Alberta, the landlord must give their tenant 14 days to pay their rent. A 14-Day Eviction Notice must be in writing and include all pertinent information, including the address of the rental property, the landlord's signature, and the date the tenancy will end. After receiving an eviction notice, the tenant can apply for a dispute resolution within the appropriate time frame. A tenant submitting a dispute resolution will delay the eviction process. What can landlords do to ensure rent is guaranteed?First, pre-screening will allow you to get acquainted with prospective tenants. Once you start receiving rental applications, there are steps to take to assess whether a potential tenant will be a match made in rental heaven or if any reg flags will emerge. Pre-screening will also help you spot fake rental applications much earlier.Ask for referencesCollect the contact information of previous landlords to learn about a tenant’s rental history. The rental applicant may seem personable and eager to move in during the pre-screening process, but the formal screening can confirm their past actions. It’s also important to ask potential tenants questions to narrow the list of candidates. If they were considered bad tenants by their past landlords, you could ask the references why. Aside from late rental payments, a tenant would be considered less than ideal for several reasons. Those reasons can include being a nuisance to other residents or neighbours or being the cause of major property damage.Incorporate a background and credit checkBackground checks may include a person’s criminal history, allowing landlords to decide whether they want to proceed with an applicant. Property managers must ask for consent when running a background or credit check.A credit report captures the prospective tenant's credit score and their credit history. Credit scores can go up and down for various reasons and shouldn't necessarily determine whether you approve or reject an application. A holistic view of tenant screening reports will help you analyze who best suits your rental property. How an online tenant screening service can helpWith the help of an online tenant screening service, you can deduce much quicker which tenant you want to approve. Here's what a SingleKey Tenant Report will provide:Equifax credit checkBackground checkSocial media scanPublic court record searchIncome and employment verificationYou can access a rental applicant's credit report and other essential information in minutes. SingleKey offers a tenant screening platform that includes automated tools for rent collection, as well as a Rent Guarantee Program, to protect against tenant delinquency or property damage.By integrating the Rent Collection feature, you don't have to worry about collecting rent. The rent is collected for you. SingleKey reports all rent payments to the credit bureau, which can benefit the tenant if they are looking for ways to raise their credit score and will motivate them to pay rent on time. Dealing with difficult tenants and eviction proceedingsDisruptive behaviour is alarming to landlords and becomes a more significant issue when tenants refuse to comply with lease terms or leave the property. Property damage and harassing other residents fall under the category of disruptive behaviour and can lead to eviction. Over 24 percent of landlords say they are concerned about disruptive behaviour.Property damage caused by the tenantResponses from our survey indicate that 18 percent of landlords are concerned about property damage. Property damage can be costly, whether accidental or intentional, or a lingering problem waiting to happen due to lack of maintenance. It's standard in most places for a landlord to require a deposit covering any property damage a tenant is responsible for. If accidental damage occurs, such as leaks, water damage, or mold, the landlord is responsible for covering the cost of repairs. Including liability coverage in a renter's insurance policy can help prevent out-of-pocket costs. The most effective way to reduce the risk of accidental property damage is by completing a move-in inspection report. Suppose you notice a feature about the property that can worsen with wear and tear or impending weather conditions. In that case, it's wise to address the problem preemptively before the tenant moves into the premises. A pet policy on a lease agreement and a pet deposit can help set guidelines and cover the costs for any pet-related damages. For example,  landlord in British Columbia can make reasonable pet-related rules to reduce damages. When damage is caused intentionally by the tenant stemming from disruptive behaviour, the landlord can file a claim against that tenant if the cost of damage is beyond the security deposit costs. As a landlord, you can minimize the risk of renting to an unruly prospective renter. Learn how to screen tenants like a professional property manager during the pre-screening and tenant screening processes.Legal advice and challenges for landlordsDespite the real threat of landlord-tenant disputes, less than 12 percent of landlords are concerned with legal challenges. There are increased delays in landlord-tenant disputes in Ontario and British Columbia. Some delays average an eight-month wait. Every landlord should prepare for this backlog and understand how to deal with tenant complaints appropriately. Tenant screening is essential for avoiding these circumstances.In some provinces, dispute resolution services are offered for residential tenancies. For example, tenants in British Columbia can reach out to the Residential Tenancy Branch regarding these services. Usually, a diplomatic and adept landlord can resolve any grievances with the tenant before the dispute reaches government departments. If the dispute is irreconcilable, a landlord should know what evidence they must provide to resolve it.FAQ: What is a landlord's biggest fear in tenant screening? How can a landlord guarantee rent? Landlords can verify a person’s income, check criminal records, and ask for landlord references to confirm the prospective tenant has an excellent rental history. Learning how to pre-screen tenants will be incredibly helpful to landlords during the beginning stages of the screening process.  How can landlords avoid accidental damages? Property managers can conduct routine inspections to ensure the property remains in good condition. A move-in inspection is necessary for both the landlord and the tenant. If the landlord wishes to conduct a property inspection during the tenancy, the landlord must provide proper notice to the tenant before entering the premises.  What are considered red flags during the tenant screening process? Bad credit history, an extensive criminal record, excessive late payments, or unpaid rent in an applicant’s rental history all count as red flags. Learn how to recognize red flags during the screening process.  Our final thoughtsIf you are new to property management, having a helping hand in the tenant screening process and access to valuable features in a tenant screening platform can ease your concerns about finding your ideal tenant. SingleKey can provide you with the right resources and a comprehensive Tenant Report to help you find the best tenant for your property. Start screening tenants with SingleKey today --- ### The Key Benefits of SingleKey’s Tenant Screening Service [The Key Benefits of SingleKey’s Tenant Screening Service](https://www.singlekey.com/en/benefits-singlekey-tenant-screening-service/) Meta: Discover the benefits of using SingleKey's Tenant Report and tenant screening service to get reliable data quickly about your rental applicants. Date: June 7, 2023 Author: Mark Gregorski Content: SingleKey's Tenant Report contains all the information you need to screen applicants like a pro. It’s comprehensive, easy to read, and delivered to you within minutes.  Read on to learn more about this tenant screening service and why our report deserves a place in your tenant screening arsenal.Access all the details you need in a single document.When screening tenants, the more information you have at your disposal, the better. Employing a holistic approach by reviewing a diverse range of data ensures you don’t miss critical details that could sway your decision to accept or reject an applicant.SingleKey's Tenant Report is all-encompassing, providing you with everything you need to determine whether a tenant meets your requirements, including:A detailed credit report that lists debts owed, creditors' names, payment history, monthly bills, credit inquiries, bankruptcies, liens, accounts sent to collection, court judgments, and more. If your applicant is experiencing debt problems or falling behind on their bills, you'll find the evidence here.A public records search collected from thousands of publicly available databases worldwide. Does the applicant have an extensive criminal history? Were they ever summoned to court by a previous landlord due to unpaid rent? Are they being truthful about their past employment? SingleKey's public record scan can help you answer these questions and more.Get the necessary information in minutes.Getting the facts that you need to screen an applicant properly can be time-consuming and overwhelming. You could spend days scouring the internet for information, and that's if you know what to look for in the first place.SingleKey's Tenant Report gets the job done at lightning speed. Once you provide a few key details about your applicant and place your order, the essential data is sourced, compiled, and organized into a single document within five minutes.Here’s a breakdown of some of the valuable information you’ll get access to:Credit check with full trade lines by Equifax, TransUnion, or both credit bureausPublic record scan that includes eviction records from Openroom, SOQUIJ, and CanLIIPublicly-available social media profile details Automated document fraud check for supporting rental application files, like pay stubs and bank statementsAI-enabled ID verification toolCheck out a sample report here.It’s easy to order and manage.Ordering a SingleKey Tenant Report is simple. Just follow these three simple steps to get started:Sign up for an account and share basic details about the applicant and rental unit. You can also invite the applicant to provide that information on their own. SingleKey will use this information to gather the relevant facts about the applicant and assemble your Tenant Report.Pay for your Tenant Report or ask the applicant to cover the cost.Verify your identity and access the report, which will be available within minutes in your SingleKey account. Here’s a step-by-step guide on how you can start screening prospective tenants with SingleKey.It’s a trusted source of tenant screening data.Compiling financial and background data about a potential tenant is already a challenge—but ensuring the credibility of that information is crucial.The Tenant Report is secure, tamper-proof, and delivered straight from SingleKey once it’s ready. As a result, you never have to worry about someone altering the contents before it reaches your account. On the other hand, if you accept such a report from an individual, there's always the risk that it's a forgery.SingleKey understands how critical reliable data is when evaluating applicants. Incorrect or outdated details can result in landlords choosing troublesome tenants for their rental properties. For this reason, all the information in the Tenant Report comes from trustworthy and reputable sources. Details that relate to an applicant's credit history come from Equifax, one of Canada's major credit bureaus. Background information is compiled by SoftCheck, a real-time public information search of over 110,000 databases from over 240 countries. This  service gathers facts about criminal activity, negative press mentions, incidents of fraud, court decisions, social profiles, regulatory violations, past employment records, and more.As an added measure, SingleKey also asks tenants to provide employment references and upload proof of income (such as a pay stub) when they fill out the online rental application. These details appear in the Tenant Report.Additional tools make tenant screening even easier.In addition to our report, SingleKey’s tenant screening service offers these extra resources to help simplify the screening process:Pre-screening form: This customizable pre-screening form helps you filter through applicants quickly to identify those who meet your minimum requirements.Verified preferences: As a part of our tenant screening service, SingleKey automatically sends reference requests to applicants' previous landlords when you order a Tenant Report. Once complete, the contact details become available to you so you can verify them.Lease auto-fill: Once you've approved an applicant, this tool will automatically take any applicable information from the application form and pre-fill it in your lease agreement (currently available for lease agreements in Ontario, British Columbia, and Alberta, with more provinces to come).Our final thoughtsWhen you’re armed with the right information about a prospective tenant’s background and finances, you can make a better decision about who you invite to live in your rental.SingleKey's tenant screening service makes the task of verifying applicants easy and stress-free with the Tenant Report and time-saving tools.  Discover the benefits of SingleKey's Tenant Report --- ### 5 Tips to Streamline the Rental Application Process [5 Tips to Streamline the Rental Application Process](https://www.singlekey.com/en/ownerkey/tenant-screening/5-tips-to-streamline-rental-application-process/) Meta: Here are five tips for landlords to leverage a rental application and simplify the rental application process to find their ideal tenant sooner. Date: June 6, 2023 Author: Mark Gregorski Content: Tenant screening involves several steps, the first of which is evaluating rental applications. A rental application form is one of the best tools you have as a landlord for vetting potential tenants. It also sets expectations for what the eventual lease agreement will look like.That’s why implementing a practical, standardized rental application method should be on your to-do list as a landlord. In this article, we'll share five tips to streamline the rental application process so you can find your perfect tenant in no time.Tip #1: Make the rental application form easily accessibleGoing digital is a no-brainer when choosing how to distribute your rental application form. Online documentation is fast, convenient, and easily accessible for tenants. It'll also make your job as a landlord easier when it comes to managing paperwork. Here's a comprehensive rental application form you can provide to prospective tenants.Convert your rental application form to PDF format and upload it to your website or another online portal where applicants can easily download it. Ensure the form works well on all devices, especially smartphones. Also, consider setting up a process for collecting digital signatures. Many e-signature platforms, such as DocuSign, are available online, which will help you set up a system for collecting electronic signatures from applicants. Tip #2: Conduct a pre-screening interviewThere's no sense in providing a rental application form to everyone who expresses an interest in your rental property. You'll only create more work for yourself as you'll have to sift through dozens of applicants.For this reason, it’s wise to arrange a brief interview with each applicant where you can ask them some critical pre-screening questions first. By doing so, you can weed out those who fail to meet your minimum requirements and drastically reduce the number of applications you’ll need to review. Here are some questions to ask tenants during your pre-screening interview.Tip #3: Set clear expectations for the rental application processEstablishing clear guidelines that each applicant must follow is vital to ensure the application process goes smoothly. Doing so will minimize the chance of receiving an incomplete or incorrectly filled-out rental application form. You'll also reduce the possibility of a misunderstanding between you and the prospective tenant, which can lead to disputes or even lawsuits.To prevent discrimination and ensure an objective assessment of each potential tenant, have all applicants complete the same rental application form. Consistency is essential: don't amend the form mid-way through your tenant search.Whether you create a rental application form from scratch or use a template, ensure you include or address the following: Provide clear and concise instructions. Outline how to fill out the rental application form and where to submit it. It’s best to provide this information at the top of the first page so that it’s the first thing an applicant will see. Note the application due date. Include on your form the date range for when you’ll begin reviewing applications and what date you expect to select a new tenant. Doing so will encourage applicants to complete the form on time. Provide guidelines for acceptable forms of identification. Applicants should be aware of what constitutes valid identification for the screening process. Include a list of examples of appropriate documents, such as a driver’s licence and passport. List special requirements or restrictions that apply to your rental. As long as you’re operating within the bounds of the laws, it’s your right as a landlord to prohibit certain activities and behaviour on your property. These can relate to areas like smoking, pets, and operating a rental property arbitrage business. By clarifying your rules, applicants will know what to expect when signing the lease agreement. Remember to mention any security deposit requirements and when it’s payable. Include a clause regarding a credit and background check. Indicate that by signing the rental application form, the individual consents to a credit and background check. Be transparent by specifying what the process entails (e.g., contacting prior landlords, reviewing criminal records, etc.). Tip #4: Request only essential information in the rental application form Refrain from overwhelming tenants (and yourself, too) with a complex and lengthy document. Keep it brief and straightforward with a maximum of two pages. A long and detailed rental application form risks alienating prospective tenants and takes too much to evaluate. Only request essential information, which means that it's:  Relevant to vet the applicant's suitability for your rental property, and Necessary for you and the tenant to enter into a lease agreement. Avoid redundant or intrusive questions, such as those that relate to the person’s lifestyle, hobbies, home décor preferences, etc.  Here's a list of relevant details you can request that applicants provide:  First and last name Email address Phone number Driver's licence number Current or previous address Current or previous landlord contact details Desired lease term length Desired move-in date Reason for leaving the current residence Primary income source Household income range Current employer Employer contact details The number of pets owned (with further information about breed, age, size, etc.) Number of people who will be living on the property (including their basic information, such as name and age) Number of vehicles owned Instances of bankruptcy Additional information (up to the applicant's discretion) Write your rental application form using clear and concise language. Avoid rental industry jargon and use simple words and short sentences. The goal is to ensure anyone can understand your instructions and requirements. It's also critical to know the laws in your jurisdiction that prohibit landlords from asking specific questions. Such legislation is in place to ensure every person has a fair opportunity to find a home to live in without being subject to discrimination. While the laws governing prohibited questions vary from province to province, they share many similarities. You cannot ask questions that relate to an applicant's: Age Race Ethnic origin Religion Sex Sexual orientation Disability Family status Marital status Gender identity Receipt of public assistance  Contrary to popular belief, asking for a social insurance number (SIN) is unnecessary. The only practical purpose for requesting a SIN may be to pull the applicant's credit report. You can accomplish this using only their full name and date of birth. However, it’s still okay to ask for a person’s SIN as long as you indicate that it's optional for the applicant to provide. Learn more about tenant screening laws in Canada and the U.S. Tip #5: Use online tools for document management Keeping your rental applications organized will save you plenty of time and hassle when screening tenants.  First, you'll have an easier time retrieving, analyzing, and cross-referencing key details as needed. Second, the documents could serve as valuable evidence in a potential legal dispute with a tenant (for example, if they file a discrimination lawsuit). Third, it's your legal responsibility to keep all rental applications safe and secure, along with other relevant documents like background checks. As a landlord in Canada, you must comply with privacy laws under the Personal Information Protection and Electronic Documents Act (PIPEDA).  The best way to handle a confidential document like a rental application form is to digitize it and keep it in a central location.  Preferably, you should store the files in a cloud-based server used exclusively for your rental business. It's a great way to ensure the data will be readily accessible for many years and kept separate from your personal files. A cloud-based service also provides dependable security and will regularly back up your data.  Our final thoughts A well-organized rental application form is one of the most critical documents in the tenant screening process. It contains many details that can help you assess a renter's suitability for your rental property.  Implementing a sound and straightforward rental application process can make the task of finding a new tenant much less stressful and tedious. Both you and everyone who applies to be your tenant will benefit.  SingleKey's Tenant Report and platform can help you manage this critical step to finding your ideal tenant. The Tenant Report contains all the facts you need to assess an applicant's credit standing, social media profile, court records, and more.  Learn more about SingleKey's Tenant Report --- ### Everything You Need to Know About Tenant Screening Laws in Canada [Everything You Need to Know About Tenant Screening Laws in Canada](https://www.singlekey.com/en/ownerkey/tenant-screening/everything-you-need-to-know-about-tenant-screening-laws-in-canada/) Meta: Learn about tenant screening laws in Canada and the questions landlords can ask during the pre-screening process and on rental applications. Date: May 23, 2023 Author: SingleKey Content: Before a tenant application is approved, an essential step for landlords is to screen tenants, ensuring they trust their residential property with someone reliable.While tenant screening is critical in finding an ideal tenant, landlords should treat each potential renter fairly and abide by anti-discriminatory and other related tenant screening laws. Learn how tenant screening can provide benefits for landlords and tenants.How the Canadian Human Rights Act affects tenant screeningFinding a tenant can be challenging. There are also tenant screening laws in Canada that landlords must familiarize themselves with before undertaking the role of a property manager. In this article, we'll dive into how the Canadian Human Rights Act influences tenant screening.Under the Canadian Human Rights Act, property managers and landlords are prohibited from asking discriminatory questions during the tenant screening process, whether asking questions verbally, digitally, or in print.Tenant screening guidelines are a two-way street: while the anti-discriminatory laws are designed to protect potential renters, they also shield property managers from disparaging allegations or legal trouble.Furthermore, incorporating good tenant screening practices will help separate the ideal candidate from the renters who may be considered risky tenants. Keeping a fool-proof screening process in place and standard screening criteria to protect landlords is an important first step to success.Topics landlords should avoid include:RaceAncestryPlace of originReligious beliefsGenderGender identityGender expressionAgePhysical disabilityMental disabilityMarital statusSource of incomeSexual orientationPre-screening questions landlords can askIt is commonly assumed that the pre-screening process starts at the first contact with the prospective tenant, but in reality, pre-screening begins with a well-written ad. This attracts qualified leads  while filtering out less than ideal applicants. Once a landlord places an advertisement to rent their apartment or rental property, it's common for prospective renters to contact the landlord to schedule a viewing. .Interested tenants will usually have a line of questions regarding the property as they try to get a sense of the space, the nearby amenities, and the location. Always answer any questions about the property honestly.Here are some questions that are acceptable to ask during the pre-screening process.When are you looking to move in?How long would you like to sign a lease?How many people will be living with you?What is your current address?How long have you been at this address?Have you given your current landlord property notice?What is your reason for moving?Do you have any pets? If so, what type and how many?Do you or your roommate(s) smoke or vape?Please tell me about your employment.How did you hear about this rental?Do you consent to a criminal, credit, and background check?Can you provide references?The initial screening will determine if both parties want to proceed. Pre-screening can provide valuable insights into the prospect. If the potential renter shows interest and wants to move forward, it's time to begin the application process!Property managers should always keep rental applications available at the viewing. The rental agreements or lease agreements will be drafted after the application is approved.Download Top Questions To Ask a Potential TenantTenant screening questions to include on an applicationIt's natural to be nervous about renting your property to a stranger, even if you felt comfortable with them during the viewing of the property. Background and credit checks are essential in confirming that the person is who they say they are, and their credit history and rental history show that they're accountable.Property managers must get consent from all applicants before pulling credit checks, background checks, or contacting their previous landlord. As a courtesy to the applicant, informing anyone who asks for an application of what information you will need upfront is good practice. Generally, you need to ask for permission or consent to pull a Canadian credit report from a credit reporting agency, so landlords must include consent forms requiring signatures in print accompanying the application.Here are the tenant screening questions to include on the rental application:Basic information, e.g., name, DOB, residential addressEmployment status and employment historyIncome sourcesResidential historyList pets, size, and breed. This question is acceptable in British Columbia but may not be in other provinces.Landlord references and credit referencesDo they smoke or vape?List other occupants, if applicableHave they ever filed for bankruptcy, and why?Do they consent to a background check?Do they agree to a credit check?Download SingleKey's Tenant Screening ChecklistAfter reviewing a completed application, the answers a landlord receive will help determine whether an applicant will be approved or if more questions arise.For instance, one of the questions on the application is “have you ever filed for bankruptcy, and why?” If the answer is yes, this will likely warrant more questions from the landlord, especially if the landlord is willing to approve the application.There are many reasons why someone might file for bankruptcy. Suppose landlords choose to keep considering an applicant who has filed for bankruptcy as a potential tenant. In that case, a landlord can take the opportunity in a follow-up interview and ask the applicant to elaborate on the circumstances beyond what they already listed on the application.For example, if the person was in financial distress because of the pandemic when they filed for bankruptcy, the landlord might determine it was no fault of their own. A landlord must consider many contributing factors at their discretion. If the tenant has outstanding debt, poor credit, and a record of not paying their bills on time, that should be considered a red flag. Tenant screening questions to avoid on an application We've covered all the practical questions to ask during the pre-screening process and on the application. Here are some questions to avoid incorporating into the application:What is your sexual orientation?What is your race?What are your religious beliefs?Personal questions regarding children or marital status are off limits.As a rule of thumb, if you're ever uncertain whether a question might seem invasive, don't ask or include it in the application. Requesting to know a tenant's sexual orientation is irrelevant to whether or not they will be a good tenant and can land a property manager in some legal trouble.Many employment applications at large companies ask about race to gather statistics and quantify inclusion. When renting a property, you should avoid this question.The Canadian Human Rights Act and related tenant screening laws consider questions regarding sexual orientation, race, religion, and marital status as grounds for discrimination, which is prohibited.FAQ: How property managers can legally screen tenants in Canada What if religion, politics, or marital status come up organically in conversation during the showing? As long as the landlord doesn’t pry further into these topics or engage in these aforementioned conversations during the pre-screening process, the landlord cannot be responsible for unprompted information the prospective tenant provides. Should I ask how a prospective tenant identifies? Once you approve the tenant and you’ve shared the good news, you can ask if they have preferred pronouns when you review the next steps. By only asking for their preferred pronouns after you approve your tenant, this shows that you have remained unbiased during the application process. Can I ask a tenant if they can set up an automated payment for rent? Yes! You can set up automated rent payments through your tenant screening service company, too. Furthermore, SingleKey will report payments to the credit bureau to incentivize paying rent on time and help improve the tenant’s credit score. Can I hire a tenant screening service to handle background and credit checks? Yes! As long as the applicant has provided written consent for both, a screening service can offer detailed credit and background information, ensuring you have the most accurate information to make an informed decision. Our final thoughtsWhen it comes to renting a property without the risk of legal consequences, you can count on experienced tenant screening experts like SingleKey to help screen potential tenants smarter and faster and get comprehensive results. Learn more about the SingleKey Tenant Report --- ### How to Verify Employment History for Potential Tenants [How to Verify Employment History for Potential Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/how-to-verify-employment-history-for-tenants/) Meta: Learn how to verify employment history for rental applicants with this step-by-step guide to get all the facts you need to select your next tenant. Date: May 18, 2023 Author: Mark Gregorski Content: Knowing how to verify employment history for your rental applicants is one of the most crucial steps in the tenant screening process. However, digging into an applicant's employment situation may feel awkward and intimidating, especially if this is your first time doing it.You might be unsure what questions to ask or what documents to examine. You might be worried about appearing intrusive and demanding. And you may be nervous about breaching privacy laws.In this article, we’ll discuss how to approach employment verification when screening tenants. We'll also outline the steps you need to take to get the details you need without a hitch—and within the bounds of the law.Why should landlords verify employment history?There are two main reasons why it's vital to examine a prospective tenant's employment history. First, you’ll need to confirm their identity, and second, it’s important to assess their financial stability.Yes, you can collect personal details about an applicant during a pre-screening interview. You can also ask them to provide this information on their rental application form. But unless you verify the details using a third-party source (like their employer), you'll have no way to determine whether they're being truthful. It's possible the applicant isn't who they say they are. They may have applied to become your tenant under a false name and with forged documentation. Besides verifying a tenant's identity, reviewing their employment history will give you a sense of their financial situation. Is their income steady, or does it fluctuate from month to month? Are they earning enough money to cover their rent and other everyday expenses? Do they tend to stay with an employer long-term or engage in job hopping?A tenant who earns a high income consistently will have an easier time paying rent than someone with low or erratic earnings. Calculating their rent-to-income ratio is a quick way to measure the risk of default on rent.  Step-by-step guide: how to verify employment history for a tenantNavigating an applicant's employment history may seem daunting and confusing at first. However, following the steps below will make the process smoother.Step 1: Obtain consent from the applicant to check their employment historyAs a landlord, you have the right to scrutinize an applicant's employment background. However, you must obtain their explicit consent before doing so.The best time to ask for their permission is after they've submitted their rental application and fulfilled your pre-screening criteria.Ensure that your rental application has a section that mentions that by completing and signing the document, they consent to an employer verification check. Still, to be safe, it's always good to inform them that you'll contact their employer and other references during your pre-screening interview.You can use the signed rental application as proof of the tenant's consent when requesting employment details from their place of work. Some employers will ask that you present it before they divulge any information.Step 2: Request pay stubs from the applicantOnce you obtain the applicant's consent to review their employment history, the next step is to ask them to supply you with pay stubs.The purpose of examining a pay stub is to check how much income the applicant earns from their job. While they've likely stated their monthly earnings on their rental application, you need to verify if the numbers provided are accurate by comparing them against the information found on their employer's pay stub.Be sure to request at least three months' worth of pay stubs. That way, you can see if their income is consistent or erratic. Also, pay stubs can be easily faked, so look for any red flags that a supporting rental application document could have been doctored.Step 3: Search for the employer’s contact information onlineThe next step is to gather the employer's contact details, as you'll eventually need to contact them to confirm the applicant's employment status.An online search is the best place to get the information you need. Today, most businesses maintain a website with readily available contact details, such as a phone number and email address.If a business lacks a website, you'll have to consult an online directory such as Yellow Pages.Alternatively, a company may utilize social media accounts to manage their online presence instead of a website. You may find contact information listed on their profiles. LinkedIn is an excellent platform to begin your search as it's geared primarily toward businesses.Step 4: Compare the employer’s contact details with those provided by the applicantDo the employer contact details you've discovered online match those provided by the applicant? If not, they may have supplied you with false information. They may be unemployed or have never worked at the company and are trying to embellish their rental application form.Due to such risks, it's always wise to compare the contact information you obtain independently with what the applicant provides. As the saying goes, "trust, but verify."Step 5: Contact the applicant’s employer to verify their employment statusNow that you've assembled all the data you need, it's time to interview the applicant's employer to vet their job status.Always keep in mind the overarching goal of the interview: to assess the potential tenant's financial reliability and trustworthiness. Each company has its own policy in handling reference checks from outside parties. Some may prefer a phone conversation, while others rely exclusively on email. You may be required to submit a copy of the applicant's signed rental application form as proof you have their approval to do an employment check.Compiling a list of questions beforehand will ensure you feel prepared during this step. If you are doing an employer check by phone or communicating by email, keep these tips in mind:Identify yourself by name.Explain that you're looking to verify a few details about the applicant.Explain why you're looking to verify these details (e.g., the applicant applied to be a tenant at your rental property).Explain why the questions you'll be asking are relevant to your situation. Questions to ask in an employment verification checkUnsure of what questions to ask the employer? Here's a list to help you get started: 1. “Can you confirm that [applicant’s name] is currently employed with your company?” Naturally, you first want to confirm that the applicant works for the company they’ve listed on their rental application. If not, this is a major red flag. The applicant may have been fired, quit abruptly, or never even worked at the company. 2. “What is [applicant's name]'s current job title, and when did the person start working at your company?” This inquiry will provide insight into the applicant’s stability at the firm. Did they start a few weeks ago, or have they worked there for a decade? The longer they’ve been with their employer, the more stable their role is likely to be, and therefore, the more reliable their income. 3. “Is [applicant’s name]’s salary within the range of $X?” Asking this question is imperative as income level is the best predictor of a tenant’s ability to pay rent. Of course, you also want to compare the applicant’s compensation as stated by their employer to see if it aligns with what appears on their rental application. The applicant may have inflated their earnings if there’s a discrepancy between the two sources. 4. “Is there any reason to believe that [tenant's name] may not be able to continue their employment with your company in the near future? This question will allow you to obtain helpful details about the applicant’s employment stability, which impacts their finances. Naturally, a tenant who is more likely to stay with their employer for the long haul will have an easier time keeping their rental payments current. FAQ: How to verify employment history for potential tenants How far back should you check a tenant’s employment history? Let’s assume you’ve verified an applicant’s current employer and are pleased with the information you’ve garnered. At this point, is it still worth contacting their past employers as well?The answer is it depends.Suppose the applicant has been with their current employer for many years. In that case, there’s likely no additional value in repeating the verification process a second time (or multiple times).  But what if the applicant has only worked at a specific company for three months? In this scenario, contacting a past employer is worthwhile to get a broader perspective on their job history. Even if you have no intention of contacting past employers, it’s still worth reviewing the places an applicant has worked for in the past. You can assess their lifestyle and job stability by checking how often they switch employers. The best way to do this is to use a tenant background check report. What if there's no response from the employer? Occasionally, the applicant’s employer may be unwilling to disclose specific details about the individual’s job status for fear of legal repercussions. In such cases, you’ll have to make do with what you can get.Still, you can make up for the informational shortfall by doing additional research on your own. Ask the applicant if they’d be willing to provide you with extra documentation to back up their employment and income claims. Some documents you can request are bank statements and tax returns. These should equip you with enough details to measure the applicant’s earnings and overall financial stability.  What if the applicant is self-employed? It’s becoming increasingly common for more people to work as independent contractors, freelancers, and for them to take on various jobs in the gig economy. As a result, you may receive rental applications from self-employed individuals.Since self-employed workers don’t have a boss, you’ll need to place more emphasis on analyzing their income, and, more importantly, the reliability of their income.Ask the applicant to provide bank statements for several months (a year is best) and calculate their average monthly earnings. Their income may fluctuate widely depending on the type of work they do, which will increase the risk of missed rent payments.You can also review their last few tax returns, business income statements, and client contracts for pending work.Some self-employed tenants also maintain a healthy cash reserve to cover expenses during dry spells, so consider this factor in your evaluation, too.Be sure to research online to see how well their business is performing and how much money and effort they’ve invested into it. Is it a full-time endeavour that brings in steady revenue or a temporary side hustle that barely allows them to scrape by? Questions to avoid asking when verifying employment historyWhile it's within your right to dig into an applicant's employment situation, you must be mindful of the types of questions you ask.In Canada, employers can collect and use personal information only with consent from their employees, which must be provided verbally or in writing. The same legal duty applies to the disclosure of personal information. As a result, an employer will refuse to divulge certain information about an applicant that may get them in legal trouble. If you gain access to details that cause you to reject the applicant as a tenant, they may file a lawsuit against their employer.Individuals who apply to be your tenant have a legal right to privacy in the workplace. These laws are enshrined in the Personal Information Protection and Electronic Documents Act (PIPEDA), which applies to private sector organizations. PIPEDA's ten fair information principles provide a good overview of the rights and responsibilities of employers when dealing with sensitive information. It’s worth getting to know them as they apply to landlords too.When looking into a person’s employment history, ask yourself the following: "Will this information help me determine the applicant's suitability as a tenant?" If the answer is no, then refrain from asking the question.Here are a few questions to avoid asking when verifying an applicant's rental history:Do you plan on terminating [applicant's name]?Has [applicant's name] ever been on medical leave or taken a leave of absence?Has [applicant's name] ever filed a worker's compensation claim?As long as you stick to questions that relate to the applicant's employment status and compensation, you'll be fine. Open-ended inquiries are okay to ask, but remember never to pressure the employer to reveal information about the applicant's private life.Our final thoughtsVerifying employment history can help you assess an applicant's income, which impacts their ability to handle rent payments. It can also help you confirm their identity and provide insights about their stability and trustworthiness.Knowing how to verify employment history for prospective tenants can be intimidating if you're a new property manager. However, you can use the tips and recommendations in this article as a roadmap to guide you through the process from start to finish.To help make employment verification a breeze, SingleKey offers an employer reference check service. Our experienced team will contact a rental applicant's employment reference for you and give you a detailed report and audio recording of the conversation. Learn more about our employment reference check add-on service here. --- ### A Landlord’s Guide to Spotting Fake Rental Applications [A Landlord’s Guide to Spotting Fake Rental Applications](https://www.singlekey.com/en/ownerkey/tenant-screening/how-can-landlords-spot-fake-application-documents-from-tenants/) Date: May 3, 2023 Author: Mark Gregorski Content: Signing a lease agreement with a tenant based on false or misleading information can lead to disaster for your rental business: lost rental income, property damage, and costly evictions are all possible. For these reasons, knowing how to identify a fake rental application is a crucial skill you need to master as a landlord.  How common is tenant fraud? Unfortunately, tenant fraud cases involving fake application documents are all too common in Canada.   In the Greater Toronto Area, eleven landlords accepted a tenant who later turned their rentals into illegal rooming houses. The tenant, now facing 11 fraud-related charges, allegedly provided fake identification on his rental applications. As a result, the landlords who searched his name online to verify vital details found no evidence of past wrongdoings. But if they had used his real name, they would have discovered a history rife with fraud-related charges.  Similarly, a Toronto landlord rented out his condo to two women who seemed like the ideal tenants. Both supplied him with what appeared to be credible documents as part of their rental application. However, the tenants did not pay their rent upon signing the lease agreement and refused the landlord's requests to enter and inspect his condo. Upon further review of the tenants' application documents, the landlord discovered much of the information they supplied was false or misleading.  Below is a survey from members of Small Landlords of Ontario (SOLO) that further illustrates the issue with fraudulent rental applications: Given the prevalence of tenant scams in Canada, it's essential to have systems in place to detect them. In this article, we'll cover some valuable tips to help you identify fraudulent rental documents, as well as ways to screen a tenant effectively using objective, credible, and reliable sources. Common rental application documents that tenants fake Rental application documents can be modified or forged. Here are the most common and how to spot a fake. Credit report A tenant can modify their credit report by copying images from sample reports found online and merging them with their own report. They can also adjust the document as needed using software programs like Microsoft Word, Google Docs, and Acrobat DC.  When reviewing a credit report, keep an eye out for the following features, which may indicate that the document has been modified: Inconsistency with the font Details like address and name that aren’t consistent with information found on other documentation the tenant provides Max limits, late payments, number of loans, monthly payments, and other financial details that don’t add up Glaring spelling, grammar, and punctuation errors Other features to note on a credit report include: Missing pages Cut-off pages Page numbers that are in the wrong order When reviewing a PDF copy of a credit report, try the following tactic to check if the document has been altered: Open the document and click on “File,” and then select “Properties” Click the “Document Properties” tab Examine the date and time to see if someone has modified the document since it was first created Sometimes it can be extremely difficult to determine whether a credit report is legitimate. For this reason, purchasing a credit report from a reputable third-party source is the best way to ensure you don’t get scammed. It’s never wise to accept a credit report from a tenant directly. SingleKey offers a tenant credit report and background check that can be ready to download in five minutes. Pay stub Numerous online applications allow tenants to create fake pay stubs. Usually, they offer a pre-made pay stub template, allowing the tenant to enter their address, company name, salary/hourly wage, pay date, and other details. They also calculate source deductions and other payroll data, which helps to make the pay stub look more authentic. Here are some features that may indicate a fake pay stub: The letter “O” is used instead of a zero  Glaring spelling, grammar, and punctuation errors Missing information, such as no company logo Net pay is a whole number, like $2,100, which after accounting for deductions, is unlikely Inconsistent, unusual, or blurry font Other features of a potentially doctored bank statement include: Lack of details commonly found on pay stubs, such as the employer’s address Incorrect math. For example, the net pay is too high relative to gross pay Misaligned writing or numbers Details on the stub don’t match what’s found on other documentation provided by the tenant Even with the clues above, it’s not always easy to identify a fraudulent pay stub. Therefore, it’s worth contacting the employer listed on the stub to confirm the applicant is a current employee. You can also ask the tenant to supply a recent bank statement to check if the earnings noted on their stub match their deposits. As with a credit report, the best way to check whether a pay stub is genuine is by obtaining a credit and background report from a third-party source. Bank statement A bank statement can help you verify a tenant's income and showcase their spending patterns. Unfortunately, it's also prone to falsification. Here are some signs that may indicate a phony bank statement: Bank logo and other trademarked symbols don’t match what’s on the bank’s website Inconsistent font type and size Sloppy spacing and alignment of numbers, text, and other elements Incorrect math. For example, the beginning balance from one statement doesn’t match the ending balance for another A large number of transactions with round numbers Ask the applicant to submit bank statements from the most recent 90 days. Three months of statements will provide solid insight into their spending habits and earnings. Examine the statements for suspicious deposits and withdrawals and pay attention to any inconsistent transactions. Is there an abundance of transactions but no bank fees charged? Are there overdraft fees despite a high positive cash balance? Be sure to reconcile the transactions to confirm that the totals match the balance on the statement. Also, compare the information in the bank statements with the details provided in the rental application form: it should be consistent. Then, do the same cross-examination with the pay stub.  Driver’s license A driver’s license is one of the most common pieces of government-issued ID tenants will present to you. As with paper documents, a tenant can obtain a replica of the driver’s license issued in their jurisdiction. These fake cards contain features like holograms, laser print photos, embossment, micro print, and scannable barcodes that make them almost indistinguishable from the real thing.  In addition to checking these features, are there other clues you can look for to determine whether a driver’s license is genuine? Yes, but you must be able to examine the ID in your hands. Here are two tips: Examine the thickness of the photos. If it’s thicker than the immediate surrounding area, someone may have placed a second photo on top of the original. Assess the consistency between the numbers and letters. If the colour or thickness of some characters differs from the others, someone may have done a modification. It also helps to become familiar with the various security features unique to licences issued in your province. You can then quickly spot any anomalies this way. For example, a driver’s licence from Ontario contains special inks visible only under ultraviolet light, as well as raised lettering on the driver’s license number and date of birth. Additional steps for uncovering fraudulent rental applications Fake rental applications created in a rush will contain many red flags and easily stand out. However, others may look remarkably genuine, so there's still the risk of letting a fraudulent tenant slip through the cracks. Below are some additional measures you can employ to identify a tenant rental scam: Use an online rental application service Online rental application services allow you to create a standardized form that renters can fill out and submit to you through a secure portal. These platforms facilitate a faster turnaround, eliminate paperwork, and help you stay organized as you search for your ideal tenant. In addition, they can act as the first line of defence against fraudulent applications. Some rental application service providers offer features that instantly detect suspicious applications. As a result, they can save you plenty of time and effort in weeding out dishonest tenants. Rental applications you receive online are more susceptible to fraud than those submitted physically. For this reason, it's always worth finding a reputable and reliable online rental application service if you're taking the digital route. Implement strict screening procedures The more thorough your screening method, the more likely you’re to identify a tenant who knowingly tries to submit false information with their rental application. Try the following tactics to help you spot dishonest tenants: Conduct a complete background check, including a criminal record check and eviction history check.  Review their rental history to see how often they switch residences. Check their social media profiles. If they lack an online presence, that’s a potential red flag. They may be using a fake name along with fraudulent identification. Never look past crucial omissions on rental applications. Inquire with the tenant as to why certain sections were left blank. If they’re reluctant to provide the necessary details, that’s a red flag. Always contact a tenant’s references, primarily past landlords and employers to confirm their validity. Instead of using the contact details provided by the tenant, do an online search to find the direct contact information for past landlords and employers. Conduct an in-person interview and assess how they respond (or don't) to certain questions. Probe further by asking specific questions that relate to their current employment and rental history beyond what they provided in their application form. Hire a professional property management firm Does the prospect of evaluating rental applications for signs of fraud sound overwhelming? If so, consider hiring a property management company that specializes in tenant screening. As experts in their field, they have the knowledge and resources to identify and prevent rental application fraud. Our final thoughts Reviewing rental application documents for signs of fraud is essential if you're in the rental business. Otherwise, you risk getting stuck with a tenant who doesn't pay rent, causes property damage, or engages in criminal activity in your rental. Fraudulent documents in rental applications are common. Remain vigilant when assessing PDF files, ID cards, and any piece of paper that comes your way.  At SingleKey, we understand how vital reliable financial and background tenant information is to landlords. Our comprehensive Tenant Report provides you with everything you need to decide whether to approve or decline an application.   Order a Tenant Report --- ### 9 Questions Landlords Need to Ask Potential Tenants [9 Questions Landlords Need to Ask Potential Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/questions-to-ask-tenants-when-renting-to-them/) Date: April 26, 2023 Author: Mark Gregorski Content: It can take tremendous time and effort to sort through rental applications and screen potential tenants. How do you choose the best applicant?The answer is you assemble a list of critical questions to ask potential tenants to determine their suitability. This process is called pre-screening, and it is the first step in getting to know if a tenant would be a good fit for your rental.Pre-screening tenants will help you quickly assess which ones meet your minimum requirements for further screening. By asking the right questions, you can also weed out applicants who would otherwise cause you nothing but trouble and grief if you were to invite them to move in.Not sure what to ask an applicant during your pre-screening interview? We've compiled a list of the top questions for potential tenants to get you started.Top questions to ask potential tenantsWhile email and text messaging are good ways to get answers, it's more effective and reliable to have a conversation over the phone. You can gain valuable insight into a tenant's character from their tone of voice and have the chance to ask relevant follow-up questions as needed.1. Can you tell me about yourself?Asking this open-ended question right off the bat is an excellent way to begin a tenant pre-screening interview. You'll become familiar with a tenant's lifestyle, habits, goals, hobbies, and more. In doing so, you can assess how well your rental and its policies align with their needs and preferences.If there's a mismatch between expectations, conflicts and disputes could arise between you and the tenant (and your neighbours), or they may choose to vacate your property early, increasing your turnover costs.2. What's your preferred move-in date? Depending on when they plan to relocate, a tenant may or may not be a good fit for your rental. Let's say your property has remained vacant for an extended period already, but the tenant plans to move in after three months. If you cannot afford to incur any additional months of lost rent, you'd be better off choosing a tenant who wishes to move in immediately.Another reason to inquire about a tenant's move-in date is to ensure you'll have sufficient time to get your rental in order. You may need to tidy up the unit, check for leaky pipes, inspect the appliances, and perform critical repairs. 3. What's your preferred lease term?This question is critical as it ensures your tenant's lease terms align with yours. Are they looking for a place to rent for a few months? If so, they wouldn't be suitable for your rental if your goal is to sign a tenant for a one-year lease term.Alternatively, if you operate your property as an Airbnb-style vacation rental, your preferred tenant will be the one looking to stay for the short term. In that case, you'll have to weed out those seeking long-term accommodation.4. How many people will be renting or living with you?Knowing how many people will live in your rental is an important question to ask potential tenants for three reasons.First, you want to be sure that your rental can accommodate everyone in terms of space and amenities. Overcrowding can lead to unpleasant and unsanitary living conditions and increase the risk of property damage. Second, you must observe local and provincial public health and housing regulations limiting the number of people living on one property. You could get hit with health and safety violations if authorities believe the living conditions in your property endangers tenants' lives.Third, the more people living in your property, the higher the expenses you can expect for fixed costs like utilities. By knowing the number of occupants in advance, you can set an appropriate rent fee. 5. Do you have any pets?Over 58% of Canadian households own at least one dog or cat, so asking the applicant if they'll bring a pet along when they move in is wise.If you allow animals, you can ask the tenant follow-up questions about how many pets they own, their breed, age, size, and whether they're housebroken. Be sure to articulate any restrictions clearly to the tenant to avoid any misunderstanding around your pet policy.6. Have you given proper notice to your current landlord?Ask the tenant if they've advised their current landlord of their impending move. Knowing this detail is valuable, as it can help you judge if they're reliable and trustworthy. It also shows whether they're responsible, as there are laws in place that require tenants to give proper notice when ending a lease.A tenant who habitually breaks leases while providing insufficient notice is a potential red flag. Inviting this individual to be your tenant may lead to higher turnover costs and more prolonged vacancies.7. Do you have full-time, part-time, or seasonal work?Knowing a few key details about the nature of your potential tenant’s work will allow you to assess the reliability of their income. Do they have a steady, full-time job at a well-established company? Do they work part-time at a convenience store? Do they work only during the summer?A tenant who earns little money from seasonal work, has no other income sources, but wishes to sign a one-year lease, may significantly increase the risk of late payments. On the other hand, a tenant with a stable full-time job is likely to meet rent payment deadlines easily.8. Will paying the first month's rent and a security deposit be an issue?This is an important question to ask potential tenants because it lets you gauge whether the tenant's budget can meet your rental's financial demands. Do they have adequate savings to pay these costs upfront once they sign the lease agreement? Can they manage the rent payments while still covering their other day-to-day expenses?An inability to pay the first month's rent and a security deposit may indicate the tenant could struggle to pay their rent.9. Do I have your permission to do a background and credit check?Proper tenant screening involves comprehensive credit and background checks to gauge reliability and trustworthiness. Both are vital, as the information you can obtain may sway you to either accept the applicant for tenancy or reject them altogether.Besides getting access to crucial details, you must obtain the tenant's consent before pulling their credit report and doing a criminal record check. If they deny you permission, it's a potential warning sign of a tarnished credit report or a criminal history.Download tenant screening resourcesFind all the questions to ask potential tenants in our two resources below.  Previous Next Know your tenant screening lawsEach province and territory has laws restricting landlords from asking prospective tenants specific questions. You must know these laws and ensure you don't breach them when pre-screening applicants. Otherwise, you risk paying a fine or becoming embroiled in a lawsuit.As a landlord, you cannot ask prospective tenants questions that violate their rights under your jurisdiction's Human Rights Code. While the legislation varies depending on your province or territory, it shares many similarities across each region. In general, you cannot ask questions that relate to tenants' age, disability, religion, country of origin, family status, sexual orientation, and similar characteristics.Our final thoughtsThorough screening is vital when searching for a tenant to occupy your rental property. You can save plenty of time, money, and energy by doing a pre-screening interview first. By understanding the key questions to ask potential tenants, you'll collect enough details to identify which applicants are the right fit. If they meet your minimum standards, you can proceed by screening them further. If not, it's on to the next one.Looking for a way to pre-screen a tenant that's fast, convenient, and done entirely online? Try SingleKey’s free pre-screening form. This customizable form includes questions that cover key areas like finances, lifestyle, and desired lease terms — everything you need as a landlord to assess whether an applicant deserves to be your tenant.Start pre-screening with SingleKey --- ### What is Rental Arbitrage and What Are the Risks for Landlords? [What is Rental Arbitrage and What Are the Risks for Landlords?](https://www.singlekey.com/en/ownerkey/tenant-screening/airbnb-arbitrage-should-i-rent-out-my-property-to-an-airbnb-host/) Date: April 17, 2023 Author: Mark Gregorski Content: As a landlord, you may have been approached by someone wishing to lease your property to rent it out on Airbnb or a similar short-term rental platform. Welcome to the world of rental arbitrage! Rental arbitrage can help you fill vacancies, boost your profits, and liberate you from many tedious tasks that come with running a rental property. However, it can also expose you to many risks, leading to costly bills, legal trouble, and endless headaches. By knowing the ins and outs of this business model, you can determine whether or not to allow a tenant to engage in this type of business in your rental property.  What is rental arbitrage? Rental arbitrage is a real estate investment strategy that involves leasing a property and then renting it out to another person. It allows individuals to earn rental income without owning a rental property. As such, it's a shortcut to being a landlord. And it can yield lucrative returns if done right. Rental arbitrage rose in popularity on vacation rental platforms like Airbnb, Vrbo, and HomeAway. Travellers flocked to these platforms to book a place to stay during their trips as they offered accommodation with more privacy, comfort, and amenities at affordable rates compared to hotels. Eventually, people figured out they could capitalize on the demand for vacation rentals by renting a house, apartment, or other property and subleasing it to travellers. Airbnb, in particular, became the go-to platform for rental arbitrage opportunities, so much so that the term "Airbnb arbitrage" is often used. Tenants who sublease properties on its website are called "Airbnb hosts."  In general, a tenant pursuing a rental arbitrage strategy won't be the one living on your property (that would be travellers and other short-term guests). However, they'll take charge of duties you'd generally assume as the landlord. These include advertising the property, screening tenants, and performing maintenance tasks. The pros and cons of rental arbitrage Pro: Professional property management A well-organized and reputable tenant will oversee cleaning duties, conduct minor repairs, and ensure your rental is well-maintained between guests. As a result, you'll have more time to attend to other business needs. Since the tenant's target market is short-term renters, your property will likely benefit from superior upkeep as well. After all, they have a financial incentive to keep things neat and tidy to attract renters. Pro: Lower tenant turnover As long as their arbitrage operation is profitable, your tenant will likely stay with you for a long time. You’ll spend less time and effort searching for new tenants and benefit from a steady rental income. Pro: No need to find and screen new tenants Finding and screening suitable guests can be time-consuming and frustrating. Luckily, your tenant will relieve you of this task as it'll be their responsibility to source and vet short-term renters. That means you'll have more time to dedicate to other priorities, like expanding your rental portfolio. Pro: Higher profit margin If you allow your tenant to run a rental arbitrage business on your property, you could justify a higher rental fee to offset the additional risks you assume. You can also set up an agreement with your tenant to offer you a reasonable share of their profit. Con: Less control If you're a hands-on property manager, relinquishing control to your tenant could be problematic. Because you won't be in charge of most day-to-day decisions, you'll have fewer opportunities to ensure things run smoothly. You'll need to depend on your tenant to ensure nothing goes wrong. Con: Higher risk of property damage Rental arbitrage focuses on short-term tenancies, typically lasting one month or less. Due to the high tenant turnover rate, there's a greater risk of a guest causing damage to your property. Of course, wear and tear will increase as well. Con: No personal vetting of subtenants Since the host bears responsibility for screening tenants, there's a risk you could wind up with one or more troublesome individuals living in your rental. Essentially, you're trusting the host to vet each subtenant competently. If they fail in this responsibility, issues can arise. For example, the subtenant may treat your property poorly. Con: Fluctuating rental income Your tenant's rental income may fluctuate widely depending on your property's location. As a result, they risk falling behind on their rent payments if they don't generate enough income from short-term guests. For example, if they cater your rental exclusively to tourists, a significant recession, weather event, or pandemic like Covid-19 could trigger a sharp drop in demand for their services. General seasonality will also affect bookings. Managing rental arbitrage risks If you've weighed the pros and cons of rental arbitrage and have decided to allow it on your property, it's imperative to do extensive research on your potential tenant. They must be trustworthy, responsible, and competent enough to operate a successful rental arbitrage business. Here are some of the critical factors to evaluate when screening a tenant who will be acting as a vacation rental host. Website Almost all businesses today have a website, so be sure to check how they present themselves online. A serious host should have a professional, well-organized website with helpful content that conveys a consistent brand. These are clues that suggest the individual or company takes their business seriously. Licensing and regulations Running a rental arbitrage business is perfectly legal in Canada. However, each municipality has regulations that govern the operation of short-term rentals. You'll need to become familiar with them to ensure you and your tenant aren't breaking any rules. Otherwise, you may pay a hefty fine or face a lawsuit.  Most municipalities classify short-term rentals as tenancy that lasts 30 consecutive days or less. Tenancy periods that exceed this limit are typically subject to different regulations. Many cities require a vacation rental host to register their business, obtain a licence, and adhere to specific bylaws. Be sure to verify that your tenant meets these requirements. Also, confirm they can legally operate a short-term rental business in your district. Zoning regulations may prohibit short-term rentals in some city regions.  Another thing to note is that some municipalities have a primary-residence requirement. This regulation specifies that the host must live in your rental to operate their arbitrage business legally. Liability insurance To shield yourself from lawsuits and costly repair bills, ask your tenant if they have liability insurance. If something goes wrong, their insurance provider will step in to cover any claims involving injuries or property damage.  Some short-term rental platforms sell liability insurance policies, which your tenant may carry. For example, Airbnb offers AirCover for Hosts, which provides up to $1 million in coverage. If the tenant has their own insurance policy, that's a good sign: it shows they're trustworthy, professional, and reliable. Suppose your tenant doesn't have short-term rental insurance. In that case, you can purchase the coverage personally, adding it to your homeowner's insurance policy.  Social media presence Like a sleek and professional website, you can garner crucial information about your tenant's business by examining their social media presence. Check out LinkedIn, Facebook, Twitter, and other social media websites to see how they present themselves: Is their brand, messaging, and overall content consistent across each platform (and their website)? Are they active on each platform, posting regular messages, and responding to inquiries? Do they engage with their clients, landlords, and others within their industry?  Vacation rental profile Ask your tenant to provide a link to their public profile on Airbnb, Vrbo, or whichever platform they list their services. Review the profile to assess how well they run their rental arbitrage business. Be sure to look at the following: Length of business history: The longer they’ve been around, the better, as it indicates they have plenty of experience running short-term rentals. Reviews: Are most customers raving about their service, leaving five-star reviews? If so, that’s a good sign. Level of detail: A profile that provides a lot of helpful information, including plenty of pictures, shows the host has nothing to hide. Response rate and time: Some short-term rental platforms show how quickly the host responds to inquiries. A fast response time indicates punctuality and solid communication, positive attributes you want to see. You can also test their timeliness by emailing or texting them several times and seeing how quickly they respond. Our final thoughts Depending on your risk tolerance, preferences, and goals, allowing rental arbitrage on your property may or may not be worth it. On the one hand, you may benefit from a reduced vacancy rate and superior upkeep of your rental. You'll also have a lighter work schedule, as your tenant will handle most of your day-to-day tasks. However, you may face an increased risk of property damage and missed rental payments from your tenant due to seasonality and unforeseen events. Plus, you surrender control of critical aspects of your rental business, such as screening guests.  If there's one thing you need to remember about rental arbitrage, it's this: always do your due diligence if you're considering taking on a tenant whose goal is to sublease your property. Vet them thoroughly to ensure they're honest, reliable, and competent: Do they have a successful track record in rental arbitrage? Do they possess the proper licence to run a short-term rental business? Are they familiar with the local laws surrounding the operation of short-term rentals? Do they carry adequate liability insurance?  How sophisticated is their guest screening process? Even if you've done everything possible to find the best tenant, it's always possible things can go awry. The SingleKey Rent Guarantee Program protects landlords against tenant defaults on rent payments. By enrolling in the program, you'll be eligible to receive up to $60,000 in lost rent over a maximum period of 12 months should your tenant default on their payments. You'll also receive coverage for up to $10,000 in property damage. --- ### Part 2: Accounting for Rental Properties: When to hire a bookkeeper or accountant [Part 2: Accounting for Rental Properties: When to hire a bookkeeper or accountant](https://www.singlekey.com/en/ownerkey/finance-management/accounting-for-rental-properties-when-to-hire-a-bookkeeper-or-accountant/) Date: March 7, 2023 Author: Mark Gregorski Content: There’s no doubt that proper accounting is essential for a thriving rental business. It enables you to maximize your rental income, keep your expenses in check, and keep your tax bill low. Maintaining your financial records will also give you accurate and up-to-date information that you can use to make wise financial decisions. The question is, how do you juggle accounting tasks as a busy landlord?  In part one of this series on accounting for landlords, we explored common pitfalls and how to steer clear of them. Here, we’ll examine the differences between a bookkeeper and an accountant, how they can help keep your books in order, and when it’s worth hiring help.  There are three different solutions to managing your financial accounts as a landlord:  1. Do it yourself (DIY). The most obvious approach to rental property accounting is to take the reins and do the work yourself. This option is viable if you have the time, energy, and expertise to record transactions, maintain documents, and comply with tax duties. DIY accounting requires a detailed-oriented, meticulous mindset and the use of suitable accounting software and apps. 2. Hire a bookkeeper. A bookkeeper specializes in the accurate and timely recording of financial transactions in accounting software. They may also generate financial statements and file basic tax returns, but they usually don’t provide advice on business strategy, tax planning, or conduct detailed financial analysis. Hiring a bookkeeper is ideal if you’re busy with other business activities and your primary concern is transaction processing. 3. Hire an accountant. Accountants can also perform the functions of a bookkeeper, but their primary duties centre around financial planning, tax advice, and analyzing financial statements. They may also file tax returns, conduct internal audits, review bookkeepers’ work, and enter complex transactions into accounting software. An accountant is valuable if you run a large rental property business or need specialized services and advice during the year. What’s the difference between a bookkeeper and an accountant? People sometimes use the terms “bookkeeper” and “accountant” interchangeably. And while these two professionals’ functions overlap, their roles are still distinct. Knowing the differences between the two is essential as a landlord. If you’re considering hiring one or the other, you need to be sure they can provide you with the services your rental business requires. Key differences to remember  Bookkeepers’ credentials can vary widely. Some may have a college degree, while others only have a high school education. This disparity is because there’s no formal training requirement in Canada for bookkeepers. It’s an unregulated field in every province and territory. Still, many bookkeepers do have some formal training, either through a post-secondary institute or a bookkeeping course. Some hold the CPB designation.  While they can work independently, a bookkeeper’s work is usually reviewed by an accountant or their employer.  Compared to bookkeepers, accountants typically possess more education and advanced training in accounting. Many hold a bachelor’s degree in accounting or a related field. They have extensive knowledge and experience in financial analysis, financial planning, auditing, operations management, and tax law. In Canada, accounting isn’t a regulated profession. No central accounting registry exists, nor are there any special licensing requirements to do the job. However, those who wish to practice as Certified Public Accountants (CPA) have specific standards to meet. These include completing a university degree, receiving on-the-job training, and passing a rigorous exam. The pros and cons of hiring help  There are advantages and disadvantages to going the DIY route when it comes to accounting for rental properties. The same applies to hiring a bookkeeper or accountant. Click through the slides below to compare each approach to managing your rental’s financial records. Deciding if you should hire a bookkeeper or accountant Before you decide to hire a bookkeeper or accountant, ask yourself the following questions: Do you lack the appropriate skill set? To do accounting well, you must be detail-oriented, well-organized, patient, accurate, and understand accounting principles. And, of course, you need to know your way around accounting software and how to analyze financial information. Do you spend too much time on accounting? Depending on the size and scope of your rental operation, you may need to dedicate considerable time to tasks like recording expenses, processing revenue, and reviewing bank statements. Spending time on these tasks will come at the cost of other activities related to your rental property. Are you constantly falling behind on accounting tasks and deadlines? Juggling accounting with your other duties as a landlord can lead to disorganized financial records. Missed bill payments, late tax filings, and inaccurate financial figures will be all too common. Do you need help understanding where you stand financially? If you’ve done your bookkeeping correctly, you should be able to assess your cash flow, revenues, expenses, and overall profitability with little effort. If that’s not the case, there’s a good chance you’ve committed a slew of mistakes! Do you feel stressed and anxious when thinking about accounting and taxes? Depending on your temperament and circumstances, you may feel dread when logging into your accounting software or filling out your tax return. Is your tax return complex? The more complex your tax situation, the more frustrating it’ll be to sort out your tax return. Plus, you’ll be more prone to making errors that can result in CRA penalties. Is your rental business experiencing rapid growth? As your operation expands, so will your paperwork. Staying on top of accounting tasks will become increasingly challenging. Did you answer “yes” to most of these questions? If so, you’d be better off hiring a bookkeeper than managing your books independently. Depending on your needs, goals, and preferences, you may also want to outsource specific tasks to an accountant, such as tax filing and financial planning advice. What are some important questions to ask a bookkeeper or accountant before hiring them? Here are some key questions to ask a bookkeeper or accountant to determine if they’ll be a good fit for your rental property business: 1. What are your qualifications and level of experience? A quality bookkeeper should possess solid communication skills, deep accounting knowledge, and established business processes to ensure their work is accurate and timely. It’s worth contacting one of their current or former clients to gain insights about their expertise and work experience. 2. What tools do you need to do your job? You may need to supply a bookkeeper with specific accounting software, apps, and other tools to do their job. However, freelance bookkeepers should have subscriptions to relevant software programs they pay for themselves. 3. What is the scope of work you can do? Do they only focus exclusively on revenue, expenses, and general ledger transactions? Can they process payroll and file basic tax returns? The more services a bookkeeper can provide at a reasonable price, the better. 4. How much do you charge for your services? Most bookkeepers charge by the hour or a flat monthly rate. Their fees will vary based on their level of expertise, the scope of services provided, and local market conditions. 5. Do you have rental property accounting experience? While not a dealbreaker, a bookkeeper with knowledge of the residential rental industry will be a better fit for you. Ask them if they’ve worked with landlords or have experience managing rental properties. 6. How do you operate your business? Do they work exclusively in a cloud-based environment or rely on paper-based documents and basic spreadsheets? Do they communicate through text-messaging apps or by phone? Ideally, you want to choose a bookkeeper whose management style aligns with yours. For example, suppose you work primarily with paper documents, and they prefer dealing strictly with electronic data. In that case, you may experience challenges, as they’ll constantly press you to digitize everything. 7. How do you protect client data? Naturally, you’ll share sensitive information about your rental property and finances with your bookkeeper. It’s crucial to gain insight into their security and privacy practices, especially if you’re hiring a firm rather than a solo bookkeeper. Inquire about their policy regarding internal controls, segregation of duties, and fraud prevention. Ask where they store your data and how often they create a backup. 8. What is your delivery and response time? What is their work schedule like? Will they keep your books updated weekly or enter all transactions near the end of the month? When can you expect your financial statements to arrive? Our final thoughts Taking on accounting duties to save money and ensure more control over your finances is perfectly acceptable. Some landlords prefer to handle every aspect of their rental business personally, especially if they run a small and straightforward operation.  However, hiring a competent and experienced bookkeeper or accountant is a superior solution if you lack the time, energy, and expertise to manage your books independently. With a seasoned accounting professional by your side, you’ll have more freedom to attend to other important tasks, such as finding quality tenants, doing necessary renovations, and scouting the market for new properties to add to your rental business.  Not only that, but you’ll have confidence and peace of mind knowing that you can rely on your financial figures to make crucial financial and tax decisions. There’s nothing worse than not knowing where you stand because of inaccurate and unreliable financial data. For this reason alone, an accounting service is worth the cost. A bookkeeper can record the rent you receive from your tenants on your books, but they can’t guarantee the money will always hit your bank account. Lost rental income from non-paying tenants is perhaps the greatest fear of any landlord—and it often happens out of the blue. Without steady rent payments, your rental business will incur heavy losses quickly.  SingleKey’s Rent Guarantee is designed precisely to address this issue. Under this program, your rent payments are protected for up to 12 months, up to $60,000. Should your tenant stop paying their rent, SingeKey will step in and cover the missed payments to keep you afloat. Learn More About Our Rent Guarantee --- ### How to: Order a SingleKey Credit and Background Check Report [How to: Order a SingleKey Credit and Background Check Report](https://www.singlekey.com/en/tenant-report/how-to-order-a-singlekey-credit-and-background-check-report/) Date: March 7, 2023 Author: Karen Wong Content: SingleKey offers one of the fastest and most comprehensive tenant credit and background check reports available in both Canada and the US.To get started, either: Method #1: Click the “Order new report” button, located at the top right corner of the Tenant Report page after you create your account. Method #2: Learn more about the Tenant Report on this page, and click “Start screening” located at the top of the page once you’re ready to run your first report. Method #3: Click here When you click “Order new report,” a pop-up modal will appear, prompting you to choose which credit bureau you’d like to use. You’ll have four options to pick from: International Credit Report Dual Bureau Report (which includes both Equifax and TransUnion) Equifax TransUnion Don’t worry—if you change your mind, you can easily update your selection on the payment page before finalizing your order. Next, select how you’d like to order a report. There are two ways, which are explained in this support article:Method #1: Invite Tenant – Invite an applicant to fill out the application formMethod #2: Enter Tenant Information – enter the tenants’ details and get a report back in under 5 minutes 1. Invite tenant To get started, click the “Create invite” button located on the Invite Tenant card. On the firsr step, you will be asked to enter the applicants first name, last name, email address, and phone number. This information will be used to send an email invite to the tenant to complete the rental application. Checking the “This invite is for a co-signer/guarantor” checkbox will remove questions from the application that are not relevant to a guarantor, like pets or vehicle info. You can also add on up to 5 co-applicants to send an invite to together. You also have the ability to select which parts of the rental application form are required to be completed on the rental application, such as: Proof of income upload PDF documents only - this will allow us to verify the tenant’s proof of income documents for fraud or tampering, which is not possible with image files. Employment references Landlord references ID upload If any of these options are left unchecked, they will be set as optional. Next, you will be asked to enter the rental unit the applicant is interested in, as well as select if you are requiring tenant insurance for the application. If tenant insurance is required, we will inform tenants during the application phase and provide insurance offers from our insurance partners. On the third and final step, you’ll be asked if you’d like to push the cost of the Tenant Report on to the tenant, or if you’d like to pay for it yourself. If you select “Tenant”, your applicant will be asked for their credit card information at the end of their rental application. You’re also given the option to order an international tenant report on this step. If the applicant is new to the country, or has been residing in the US or Canada for less than 1 year, select the International credit option. This will allow you to get their credit history from their country of origin in the same North American Credit Report Format that you’re familiar with. Before paying for your report, confirm your credit bureau preference. This will default to the bureau selected on the modal in Step 1, however you can select from: Dual Bureau Report (which includes both Equifax and TransUnion) Equifax TransUnion You’ll also be given the option to add on an automated Landlord or Reference check. 

Our experienced team contact the landlord or employer reference provided by the tenant on their rental application, saving you time. Most reference checks are completed the same day.We persistently follow up until we receive a response, and landlords tend to be more forthcoming with us than with other landlords. Our expertise allows us to ask the right questions, ensuring we get truthful answers and identify any potential tenant red flags. We also provide a voice recording of the reference conversation for you to review at your convenience. Once you’ve completed your tenant report order, a rental application invite will be emailed to your tenant. 

The tenant report will appear on your Tenant Reports home page and appear as an “Invite sent” status until the rental application is complete. You may send your applicant a reminder to complete the application at any time, by clicking on the “Send reminder” button on the far right of a row. Once your tenant has completed their rental application, their Tenant Report will be ready to view and will appear as such on your Tenant Reports home: Providing landlord and employment references as well as uploading additional documents is an optional part of the form. The landlord can request that specific parts of the application become a required field by clicking “+ Additional Options”. This means that the applicant won’t be able to submit or complete the form without also adding the selected documents or completing the required fields 2. Enter tenant information The second way to order a report on a prospective tenant is by entering their information directly into the order form and having a report generate within a few minutes. This is the best option for landlords who have collected an applicant’s information and consent, or who use rental application, pre-screening form or collect applicant driver’s licences.To get started, click the “Enter Info” button at the bottom of the card Next, you fill out the form with the tenant’s information. Note that some fields of the application are required to proceed. The information that is required to order a report is the following: Applicant legal first and last name Applicant’s email addres Applicant date of birth, and Applicant current address Note that the drivers’ licence and SIN/SSN number fields are optional but greatly increase our ability to collect information. You may also upload the tenant’s proof of consent and their ID on this step. To add up to 5 more co-applicants, click “Add another applicant”. Next, you will be asked to enter the rental unit the applicant is interested in, as well as select if you are requiring tenant insurance for the application. If tenant insurance is required, we will inform tenants during the application phase and provide insurance offers from our insurance partners. On the third and final step, you’ll be asked to confirm your credit bureau preference. This will default to the bureau selected on the modal in Step 1, however you can select from: Dual Bureau Report (which includes both Equifax and TransUnion) Equifax TransUnion Once you’ve completed your tenant report order, you’ll find the report viewable on your Tenant Reports home page instantly. You can view and download a PDF copy of the report by clicking on the table row. Need more help with ordering your first screening report ? Watch Mac's how-to below: https://www.youtube.com/watch?v=Y7OpStug9Zc Other Information To order a tenant credit & background check report in order to get this comprehensive view of your tenant, please click here. To learn how to read a tenant credit & background check report, please click here --- ### Welcome to SingleKey! [Welcome to SingleKey!](https://www.singlekey.com/en/ownerkey/announcements/welcome-to-singlekey/) Date: March 1, 2023 Author: SingleKey Content: Hi all — my name is Viler Lika and I am the co-founder and CEO of SingleKey, your trusted partner for tenant risk management solutions. Today is a very special day for our team here at SingleKey: we have acquired Naborly Inc, a leading tenant screening provider in North America. What does this mean? For starters, with this acquisition we have now grown to become the #1 tenant screening provider in Canada for landlords and property managers. By joining forces with an industry pioneer like Naborly, we plan to combine their best-in-class data, technology, and user insights with our platform to build a differentiated tenant screening solution to help Canadian landlords better manage tenant risk.  Over the next few weeks, we will transition Naborly accounts to SingleKey where Naborly users will be able to access their existing Naborly reports as well. Naborly users will have access to all the tools they’ve grown to love, with the new addition of SingleKey award-winning technology and customer service. Thank you all for being along for the ride — there is a lot more to come. BetaKit  Financial Post Other Sources The Logic Yahoo BusinessWire Finsmes Crunchbase Venturecapitaljournal Manavigator APnews Naborly + SingleKey FAQ --- ### Part 1: Accounting for Rental Properties: Common mistakes and how to avoid them [Part 1: Accounting for Rental Properties: Common mistakes and how to avoid them](https://www.singlekey.com/en/ownerkey/finance-management/accounting-for-rental-properties-common-mistakes/) Date: February 27, 2023 Author: Mark Gregorski Content: If you’re like most landlords, accounting is likely the least glamorous part of your job. With a hectic schedule and other priorities demanding your attention, it’s tempting to put accounting tasks at the bottom of your to-do list, especially if you detest paperwork. However, a robust accounting system is critical when running a rental property. Accounting is more than mindless number crunching—it’s the “language of business.” As such, it can help you better manage your rental to ensure it turns a tidy profit. When accounting duties are neglected, this can lead to poor cash management, higher expenses, overpaying taxes, and ultimately lower profit margins. In part one of our Accounting for Rental Properties series, we’ll cover common accounting mistakes that landlords make and how to avoid them.  Mixing business and personal expenses Some landlords habitually co-mingle their rental property transactions with personal transactions. For example, they may deposit rent and security deposit cheques from their tenants into their personal bank account.  Mixing business and personal affairs is never a wise move. Revenue and expense tracking will become a nightmare if you constantly need to distinguish between private transactions and those related to your rental business. Accurately reporting your income on your tax return will also be challenging. The solution: Open separate financial accounts strictly for your rental property business. These include chequing and savings accounts, credit cards, and debit cards.  Not differentiating property accounts Tracking the financial performance of multiple rental properties will become problematic if you lump all revenue and costs under a single account. The reason is that the income and expenses associated with each one will likely differ.  One of your units may have consistent tenants, while another may suffer from extended vacancy. One may incur only regular costs, such as utility fees, while another requires extensive upkeep or a pricey renovation.  The solution: Consider opening separate bank accounts for each rental property you own. If that’s not feasible, you should still track inflows and outflows for each rental property separately. Accounting software can help with this task. Inconsistent income and expense tracking In the world of accounting, there are two ways to track your income and expenses: Cash method Accrual method Under the cash method, you record income and expenses whenever you receive or spend money. Conversely, under the accrual method, you document income and expenses whenever you earn and incur them.  Some landlords intentionally or accidentally switch between the two methods, leading to inaccurate financial figures and income reporting issues during tax season.  The solution: Pick one accounting method to track your income and expenses and stick with it. Staying consistent is crucial. The Canada Revenue Agency prefers that business owners use the accrual method. However, there are instances where you can use the cash method. Sticking with paper rather than going digital Sticking with paper-based accounting is fine, especially if your rental operation is small and straightforward. However, paper-based accounting has several drawbacks. The most notable is decreased productivity due to compiling, managing, and organizing physical documents. Clutter is also an issue, resulting in lost or damaged receipts and invoices. The solution: Consider digitizing your business as much as possible. Look into purchasing dedicated accounting software to manage your rental operation. A wide range of small-business accounting solutions are available, some of which are free to use.  Not considering automation Some landlords prefer traditional methods for paying bills and collecting rent. But relying on paper documents, snail mail, and in-person payment processing requires more time and effort. It can also lead to missed bill payments, lost rent cheques, and higher transaction costs.  The solution: Use accounting software and mobile apps to streamline your rental business’ finances wherever possible and feasible.  Failing to retain financial records Landlords who fail to store and organize their receipts and invoices properly may not immediately face negative repercussions. However, things will change drastically if the CRA requests copies of their financial records for review. Should the CRA wish to audit your rental operation, you must provide all financial records related to your rental property. The CRA will only allow you to claim expenses as a tax deduction if you have proof of the transactions. The solution: Always retain copies of your receipts and invoices, whether paper or electronic. Keep them in a central location and well-organized for easy identification and retrieval. Accounting software can simplify this task. Keeping a backup is wise as well, since electronic data can be compromised too. Falling behind on accounting tasks Some landlords tend to push aside bookkeeping to the bottom of their to-do list, as they view it as a chore. Unfortunately, waiting until the last minute can lead to higher expenses and more work to catch up on accounting-related tasks.  Late bill payments and tax filings can result in interest charges and late payment fees. Entering transactions in haste can also result in typos that complicate balancing your books at year-end. The solution: Set aside time each week to dedicate solely to accounting duties. By doing so, you’ll be able to keep your books up to date at all times and never feel rushed or overwhelmed. If you lack time to focus on accounting, that’s a sign that you need to hire a bookkeeper. Not understanding tax laws Managing your rental property’s books is critical to track revenue and expenses. However, it also enables you to report your rental income to the CRA accurately. Failure to comply with the tax code can result in penalties and intrusive audits. It can also lead you to miss crucial deductions that would otherwise allow you to keep more of your income rather than handing it over to the CRA. The solution: It’s prudent to outsource anything remotely tax-related to a bookkeeper or accountant. Not only will they be able to answer your questions and provide clarification, but they can also file your tax return and advise on the tax implications of your financial decisions. Bookkeeping entry errors Rental property owners who attempt DIY accounting will invariably make bookkeeping entry errors. The more transactions there are, the more likely mistakes will occur. As a result, incorrect and misleading data abound, leading a landlord to make bad financial decisions. The solution: Learn accounting fundamentals to understand and familiarize yourself with the jargon. Knowing the ins and outs of accounting will help to minimize mistakes. Be sure to examine all your entries at the end of each month to catch any errors—this is precisely what professional accountants do. If you find accounting too much of a hassle to learn, you can hire a bookkeeper instead. Spending too much time on DIY accounting As a landlord, accounting is only one of many tasks you’re responsible for. Others may include: Screening tenants Crafting lease agreements Performing renovations Doing seasonal maintenance Writing ads for your rental unit Unfortunately, accomplishing all these tasks will prove difficult if you’re sitting at the computer all day entering bills.  The solution: Hire a bookkeeper to handle the day-to-day accounting tasks so that you can focus on the big picture—maintaining and growing your rental business.  Our final thoughts Accounting, when done correctly, will provide you with valuable financial information you can use to maximize your rental property’s profit. With accurate and timely financial data at your fingertips, you can: Monitor the financial performance of your rental operation  Address any issues immediately, such as past-due bills and missed rent payments Spot opportunities to improve your profit margin by cutting expenses Ensure you report accurate financial data on your tax return and pay your taxes on time Keep your tax bill low by maximizing your deductions For these reasons (and many others), setting up a proper accounting system that works for your rental business is crucial. First, establish good record-keeping practices by opening separate financial accounts for your rental property business.  Second, choose suitable accounting software and automate processes wherever possible.  Third, familiarize yourself with fundamental accounting principles and tax rules to minimize the occurrence of mistakes.  And fourth, make time in your schedule solely for accounting-related tasks. That way, you’ll stay caught up on your books—and avoid numerous headaches, especially during tax season. As you’ve learned from this article, a proper accounting system can help you automate tedious transactions, such as rent collection. SingleKey’s Rent Collection tool also offers a speedy and hassle-free way to collect rent from your tenants online. Rent payments will arrive in your bank account within 3–4 days and are reported to Canada’s credit bureaus, encouraging your tenants to pay on time. Get started today by visiting our Rent Collection page. Setting up an account only takes five minutes, and you can collect monthly rent from up to three tenants for free. Learn more about our rent collection --- ### Can A Landlord Claim a Rental Loss from Unpaid Rent? [Can A Landlord Claim a Rental Loss from Unpaid Rent?](https://www.singlekey.com/en/ownerkey/finance-management/can-a-landlord-claim-a-rental-loss-from-unpaid-rent/) Date: February 17, 2023 Author: Mark Gregorski Content: Running a rental property can be an excellent way to supplement your income. But as a landlord, you also face the risk of a troublesome tenant who fails to pay their rent. Without timely rent payments, your expenses will quickly erode whatever income you earn from your rental property, leaving you with a loss at the end of the year. Naturally, as a landlord, you may have asked yourself if you can claim a rental loss on your tax return from unpaid rent. After all, missing rent payments aren’t everyday expenses like utility bills and property taxes. Provided you meet specific criteria, a rental loss arising from uncollectible rent is a tax-deductible expense in Canada. In this article, we’ll explain how unpaid rent qualifies as a deduction and how you can use it to reduce your tax bill. How to claim a rental loss when your tenants don’t pay their rent If your rental property suffers losses from uncollectible rent, you can deduct them from your gross rental income. Essentially, the uncollectible rent becomes another expense you can claim as a landlord. To be eligible for this deduction, you must meet the following criteria:  Your tenant must owe you rent at the end of the current tax year The rent is uncollectible by the end of the current tax year The rent has been included or deemed to have been included in your income, either in the current year or a previous tax year  In addition, you must provide the CRA with proof that you made reasonable attempts to collect the rent.  For example, you can supply emails or text messages where you discussed the past-due payments with your tenant. A notice to creditors that you received from your tenant’s bankruptcy trustee would also qualify as proof.  Rental losses from rent payments below fair market value Suppose a family member or friend has recently lost their job and is experiencing financial hardship. To help them out, you offer them tenancy in an apartment you own for a rate well below what you would charge for a regular tenant. As a result of the discounted rate, you incur a rental loss, which you’d like to claim when filing your taxes. Unfortunately, in this scenario, the CRA would disallow you from reporting the rental loss on your tax return. You can’t claim a rental loss that arises from renting a property below fair market value to someone you know. On the flip side, however, you don’t need to report the rental income you earn, either. It’s only fair, right? From the CRA’s perspective, you’re not running a genuine rental operation if your expenses consistently exceed your income. There must be some expectation of profit for you to claim a loss that occurs. Other expenses you can claim when attempting to collect rent from tenants When you pursue a tenant to collect past-due rent, you may incur additional expenses along the way. Some of these are eligible for a deduction, which will serve to increase the rental loss you can report on your tax return. The most common expenses you can claim are travel costs and legal costs. Travel Costs Travel costs qualify as a tax deduction only under the following circumstances: You may only claim the cost of commuting to your property, not from it  The purpose of the trip must be to collect rent from your tenant, perform necessary repairs, or carry out other management activities You must own two or more rental properties Suppose you own only one rental property. In that case, you can only deduct your travel costs if the purpose of your visit is to conduct repairs and maintenance. If you’re travelling to collect rent, you cannot write off your travel expenses. Assuming that your personal vehicle will be your mode of transportation, you must track your mileage when driving to your rental. You can only claim the portion of expenses (e.g., fuel, oil, insurance, etc.) that relate directly to your commute to the property. Legal costs As months of unpaid rent begin piling up, you may decide to pursue legal action against your tenant with the aid of your lawyer. Any legal fees you incur to collect overdue rent are tax-deductible expenses. Should your tenant still refuse to pay you what they owe while occupying your rental, the only other solution is to obtain a court order to evict them. The cost of evicting a tenant typically involves legal fees, court fees, and sometimes sheriff fees to enforce the order. You can write off all these costs against your rental property. How to apply a rental loss on your tax return You can apply your rental loss against other types of income you earned during the year, such as employment income. By doing so, you’ll lower your total tax bill. If your rental loss (or a portion of it) exceeds your other income sources, it becomes a non-capital loss. You can carry back a non-capital loss three years or forward 20 years.  To carry a non-capital loss back to a prior year, you must complete Form T1A – Request for Loss Carryback and submit it with your tax return. Our Final Thoughts If your tenant fails to make their rent payments, your income can dry up quickly, putting a big dent in your bank account. Luckily, Canada’s tax code allows you to claim a rental loss that results from uncollectible rent. You can use your rental loss to offset any other income you earned during the year. Just remember to provide proof that you pursued your tenant for missed rent. Otherwise, the CRA won’t allow you to deduct it. There’s no way to know with certainty if your tenant will one day stop paying their rent. However, you can eliminate this risk with SingleKey’s Rent Guarantee, which will provide you with coverage for lost rent for up to 12 months and up to $60,000. If the thought of getting stuck with a non-paying tenant keeps you up at night, visit our Rent Guarantee page to see how this service can ensure your rental income keeps flowing. Learn more about our rent guarantee --- ### What Expenses Can You Claim on Your Tax Return as a Landlord? [What Expenses Can You Claim on Your Tax Return as a Landlord?](https://www.singlekey.com/en/ownerkey/finance-management/what-expenses-can-you-claim-on-your-tax-return-as-a-landlord/) Date: February 6, 2023 Author: Mark Gregorski Content: If you own a rental property, you must report all the income you earn from it when you file your tax return. That’s because rental income is taxable in Canada. As usual, the Canada Revenue Agency (CRA) wants its fair share!Luckily, there are many expenses you can claim on your tax return as a landlord to lower your tax bill. By maximizing your deductions, you’ll get to keep more money in your pocket rather than handing it over to the CRA.In this article, we’ll walk you through the expenses you can claim to reduce the tax you must pay, including those landlords routinely overlook. We’ll also provide you with some tips for navigating some of the trickier deductions.Check out our capital vs current expenses infographic Click Here to access full infographicCurrent expenses vs. capital expensesYou can write off a wide range of expenses against your rental income. In general, they can be classified into two categories: current and capital.Current expenses are the day-to-day costs of running your rental property. They reoccur after a short period and don’t provide any long-term value. Utility bills, like electricity and water, are an example of this expense. You can deduct current expenses in full in the year you incur them.Capital expenses enhance the value of your property, improve it beyond its original state, or extend its useful life. These expenditures are akin to business investments, as they provide lasting benefits. For example, if you replaced the carpet in your rental with hardwood, the CRA would view the cost as a capital expense. Unlike a current expense, you cannot fully deduct a capital expense in full in the year you pay for it. Instead, you claim depreciation on it over several years (more on this later). Under Canada’s tax laws, this form of depreciation is called capital cost allowance (CCA). How to determine the difference between a current and capital expenseSo, how exactly do you determine whether a cost is a current expense or a capital expense? The answer is you use your judgement with guidance from the CRA.Below are the CRA’s criteria to decide whether an expense is current or capital. You can ask yourself these questions to help you figure out how to treat an expenditure.Does the expense offer a lasting benefit, or does it reoccur after a brief period?Does the cost enhance the property’s market value or only maintain it?Is the expense for a separate asset or the property itself?Is the market value of the cost high or low?Is the intent of the expense to make the property suitable for use or to perform regular repairs and maintenance?Is the cost incurred to help sell the property or to perform standard repairs and maintenance?While asking these questions can help you make the right decision, you may encounter some grey areas. An expense could easily fit into both categories. In such cases, it’s wise to consult with a tax specialist. Or, you can contact the CRA directly and have them make an assessment – that way, they’ll only have themselves to blame if they make a mistake!Current expensesYou can deduct any current expenses related to your rental property in the year you incur them. You can claim 100% of the expense if it pertains to a rental property that’s not your principal residence. If the property is your principal residence, you can deduct the entire cost only if it’s related to the rental portion. Any expenses that apply to your entire home are only partially deductible. You’ll have to prorate the cost based on the square footage the rental part occupies or the number of rooms in your property.AdvertisingAny money you spend advertising your rental property is an allowable expense, no matter the platform. You can place an ad in a newspaper, magazine, online rental website, billboard, etc. The total cost is deductible, as you incur it solely to earn rental income.Office expensesOffice expenses include the cost of pens, paper, notebooks, printer ink and toner, stamps, sticky notes, staplers, paper clips etc. As long as you use these items strictly for business purposes, you can write-off them off on your tax return.However, office expenses don’t cover desks, chairs, computers, and other higher-ticket items. The CRA considers these to be capital expenditures.UtilitiesUtilities are one of the most significant recurring expenses you can deduct against your rental income. These include electricity, water, cable, internet, natural gas, and trash collection.You’ll need to prorate these costs if your rental is your principal residence. Otherwise, you can claim the entire bill.Repairs and maintenanceAny costs you pay for minor repairs and maintenance on your rental property are legitimate expenses. You can include the cost of materials, labour, and supplies. However, you cannot deduct your labour.Property taxesYou can deduct property taxes your municipality has charged you for the current year. As with utility costs, you can only write off 100% of the bill if it pertains to a rental property. If you’re sharing your principal residence with a tenant, you’ll need to prorate the cost accordingly.In addition, you can only claim the amount of your property tax bill for the period your property was available for tenants to rent.Home insuranceHome insurance premiums are a cost that some landlords overlook, so ensure you take advantage of this one. You can claim the entire amount or a portion if you rent out your principal residence.If your policy provides you with coverage for multiple years, deduct only the premiums associated with the current year.TravelTravel expenses cover the cost of commuting to your rental property. Most landlords will claim expenses associated with their vehicle, which can include things like: FuelOilMaintenanceInsuranceLeasing costsRegistration feesLicense fees Expenses related to board and lodging don’t qualify as deductions – the CRA views these are personal expenses. To separate personal and business use of your vehicle, you’ll need to keep track of your mileage.There are specific rules the CRA outlines that you must follow to deduct travel costs. For example, suppose you own a single rental property. In that case, you can only write off your travel expenses if you visit the property to perform necessary repairs and maintenance. The same rule applies if you own two more rental properties. However, in this case, you can also claim travel costs incurred where the purpose of your trip is to  Collect rentSupervise repairsCarry out various management activities.You may deduct money you pay for public transportation if you don’t owe a vehicle.Visit the CRA website to learn more about travel and motor vehicle expenses. Or, better yet, give your accountant a call!Interest and bank chargesInterest and bank charges are another category of expenses that’s easy to forget. You can deduct the interest charges you incur on money borrowed to purchase, renovate, or upgrade your rental property. You can also claim any fees associated with your loan, such as brokerage fees, appraisal fees, and processing fees.In addition, you can claim interest charges you pay to your tenants once you return their security deposits.You can fully deduct the cost of banking fees for chequing or savings accounts used strictly for your rental properties.Professional feesAny fees you pay for hiring a professional to perform a service related to your rental property are tax-deductible.For example, you may hire a lawyer to help you draft lease agreements and an accountant to do your bookkeeping and prepare your tax returns.Management and administrative feesDo you pay an individual or company to manage your portfolio of rental properties? If so, these fees are a tax-deductible expense you shouldn’t overlook.You can also claim any payments you make to a real estate agent to procure tenants or collect rent on your behalf.Salaries, wages, and benefitsYou can deduct amounts you pay to individuals you employ to take care of your rental property, such as maintenance workers. These amounts apply to salaries, wages, your portion of the source deductions (CPP and EI) and premiums for any benefits you provide.Other expenses Landscaping costs – you can claim expenses associated with landscaping in the year you incurred the costLease cancellation costs – you can deduct the amount you paid to a tenant to cancel their leaseCondo and strata fees – If your rental property is a condominium, you can deduct the monthly condo fees against your rental income.Renovations to accommodate individuals with disabilities – This may seem like a capital cost at first glance. But you can claim all expenses related to this type of project in the year you incur them.Capital expensesYou cannot deduct capital expenses as a lump sum in the year you incur them. Instead, you must write off the cost over several years by claiming capital cost allowance (CCA). CCA is a deduction made available by the CRA that reflects the declining value of an asset over time.So how does CCA work, and more importantly, how much can you claim each year?The CCA system divides capital expenses into 56 distinct asset classes. Each class dictates the maximum amount you claim as a deduction each year, usually as a percentage of the total cost.Here are some of the more common capital expenses and the CCA class they belong to from a rental property standpoint:A notable feature of CCA is that any new capital expense is subject to the first-year rule. With few exceptions, you can only deduct half of the capital expense in the year you pay for it. For example, let’s say you purchase a new refrigerator for your rental property on October 1. You spend a total of $1,200. As an appliance, this item falls under class 8 and qualifies for a 20% depreciation rate. As a result, your allowable CCA deduction for the year on the refrigerator would be $120 ($1,200 x 20% x 0.5). You can claim a full 20% deduction on the remaining $1,080 balance in the following years.Here are some other rules that govern the CCA system: Land doesn’t qualify for a CCA deduction.You can’t use CCA to produce a loss on your rental property – only to bring your income to zero.You’re not obligated to claim your allowable CCA deduction in the current year. You can preserve them for future tax returns when it may be more advantageous for you to do so.Capital expenses include GST, PST, and delivery charges – don’t forget to add these to the total cost when computing CCA. You can also add legal fees and mortgage fees to the total cost of a rental property purchase.Beware of claiming CCA on your primary residence, as you could lose your principal residence exemption. Speak to a tax professional before doing this!CCA can be challenging to understand, so we don’t blame you if you feel overwhelmed studying it. There are many rules and nuances to become familiar with, which are beyond the scope of this article. The solution, as always, is to consult with a tax specialist.Rental expenses you cannot deduct on your tax returnYou cannot claim the following costs as a deduction against your rental income:Mortgage principalLand transfer taxesPenalties on your Notice of Assessment (NOA)Courses, books, seminars, and other education-related costs that relate to operating a rental propertyValue of your own labourAny personal portion of expenses (always make sure to prorate where necessary if you’re renting out your principal residence)Our final thoughtsKnowing how to maximize your tax deductions is vital as a landlord. Otherwise, you risk paying more taxes than necessary to the CRA and earning a lower profit margin on your rental property. Many rental expenses, such as utilities and office supplies, are easy to comprehend and calculate, and there’s no question you can claim them as a deduction. However, you may encounter some that are more complex and fuzzier such as those surrounding travel costs and CCA. In these situations, it’s worth speaking with a tax professional or the CRA for clarification and guidance. Otherwise, you risk making a costly error on your tax return. Pro tip: Ensure you keep detailed records of your expenses should the CRA wish to verify them. These include receipts, travel logs, invoices, and documents that specify ownership rights. You must keep these records for seven years from the tax year you claim them.  Some landlords are confident in sorting through their expenses when filing their taxes – they know what to deduct and how to crunch the numbers. However, if you’re not comfortable with this task, be sure to hire a tax professional. A qualified tax expert who can provide solid advice and file your tax return on your behalf is a worthy investment. At SingleKey, we don’t offer advice on tax deductions to maximize your income. However, we help landlords protect their income through our Rent Guarantee program. This service covers lost rental income for up to 12 months, and up to $60,000 should your tenant stop paying rent. You also receive extra coverage for legal fees and property damage. And yes, the cost of the Rent Guarantee is a tax-deductible expense!Learn more about our Rent Guarantee --- ### How Tenants Can Claim Rent on Their Tax Return [How Tenants Can Claim Rent on Their Tax Return](https://www.singlekey.com/en/how-tenants-can-claim-rent-on-their-tax-return/) Date: February 6, 2023 Author: Mark Gregorski Content: Rent is likely the most significant monthly expense a tenant faces. And while some have no problem footing this bill, those who struggle financially become increasingly nervous as the 1st of the month approaches. Given the high cost of rent across Canada, can renters obtain some financial relief during tax season? More specifically, can a tenant claim rent as a deduction on their tax return? In general, the answer is “no.” Rent payments don’t qualify as a tax deduction for anyone in Canada. However, there are a few exceptions to the rule. Depending on where a tenant resides and their specific financial situation, they can claim rent when filing their taxes. In this article, we’ll explore these options and explain how you, as a landlord, can help your tenants get a tax break on their rent. How a tenant can claim rent on their taxes Canadian tenants can claim their rent in their taxes in one of two ways: Qualify for a tax credit related to eligible rent payments in one of three provinces: Ontario, Quebec, and Manitoba. Deduct rent payments as an expense if they’re self-employed and meet specific eligibility criteria.  As long as a tenant falls into one of these two categories, they’ll be able to claim rent on their tax return.  Claiming rent on a tax return in Ontario  A tenant who lives in Ontario may qualify for the Ontario Trillium Benefit (OTB). This refundable tax credit provides financial support for low-to-moderate-income households. It offers a monthly, tax-free payment to help cover a portion of their energy, property taxes, and sales tax costs. The OTB is a bundle of the following three credits: Ontario Energy and Property Tax Credit (OEPTC). Offsets the cost of property taxes and sales tax on energy bills. Northern Ontario Energy Credit (NOEC). Offsets energy costs for Northern Ontario residents. Ontario Sales Tax Credit (OSTC). Offsets the cost of spending on everyday goods and services.  To qualify for the OTB, an individual must be eligible for at least one of these credits. The OEPTC and NOEC components of the OTB consider an individual’s rent payments to determine how much they’re entitled to receive each month. So, while a tenant cannot directly claim rent payments as a tax deduction, the OTB payments are determined partly by the rent they paid. The amount a tenant can receive from the OEPTC/NOEC is based on several factors, including rent payment size, age, household income, and marital status.  To apply for the NOEC and OEPTC, they must complete Form ON-BEN and submit it with their tax return. OEPTC and NOEC eligibility requirements To qualify for the OEPTC, a tenant must reside in Ontario at the beginning of the payment month in the current year. Plus, they must meet at least one of the following criteria: Be at least 18 years of age  Been married or in a common-law relationship  Living with or have lived with their child  Also, they must meet at least one of the conditions for the previous year:  Paid rent or property tax for their principal residence Paid for accommodation costs for living in a public or non-profit long-term care home Paid for home energy costs, such as electricity and heat, for their principal residence on a reserve Lived in a designated Ontario university, college, private school residence The eligibility requirements for the NOEC are the same as those for OEPTC. However, the tax credit is available only to Northern Ontario residents. In addition, a tenant may not use the criteria of living in a post-secondary institution to qualify. The following rules apply to the OEPTC and NOEC as well: If a tenant lives with a partner or spouse, only one may qualify for the credit. If a tenant lives with roommates, they can only declare their portion of the rent when applying for the credit The tenant can only claim rent payments that their landlord reports on their tax return  Claiming rent on a tax return in Quebec Tenants living in Quebec may qualify for the Solidarity Tax Credit program. This benefit provides financial assistance for low-and moderate-income families and consists of three components: Housing Quebec sales tax (QST) Individuals living in northern Quebec villages  A tenant may qualify for all three components or only one or two, depending on their circumstances. Naturally, the housing element of the benefit considers rent payments they made during the year.  The amount a tenant can receive from this tax credit depends on their household’s income, expenses, and location. Revenue Quebec provides a handy calculator they can use to estimate their entitlement. To claim the Solidarity Tax Credit, an individual must complete Schedule D of their income tax return. Solidarity Tax Credit eligibility requirements  To qualify for the Solidarity Tax Credit, an individual must meet all the following requirements: Be at least 18 years old Be a Canadian citizen Be a Quebec resident  Suppose the tenant was sharing accommodation with a spouse or common-law partner. In that case, only one can claim the tax credit. Claiming rent on a tax return in Manitoba In Manitoba, tenants may claim rent on their tax return courtesy of the Education Property Tax Credit. This credit helps to offset homeowners’ property tax costs but is also available to renters.  The Manitoba government considers rent paid during the year to determine the amount an individual is entitled to receive. A tenant can claim 20% of their rent payments, up to a maximum allowed of $525. Seniors may be eligible for an additional amount if their household income is under $40,000. To claim the Education Property Tax Credit, a tenant must complete and submit Form MB479 with their tax return. Education Property Tax Credit eligibility requirements To qualify for the Solidarity Tax Credit, an individual must: Be at least 16 years old Be a Manitoba resident Have paid rent or school tax on their principal residence in Manitoba If the tenant lives with a spouse or common-law partner, only one is eligible for the credit. The same concept applies if the tenant shares the rental with roommates – only one may claim the credit. Claiming rent against self-employment income in Canada Self-employed tenants may deduct a portion of their rent on their tax return if they use part of the rental property for business purposes.   The amount of rent they can claim is limited to the space they use to conduct business. For example, if their office occupies 15% of the total square footage of the rental, they can only deduct 15% of their rent.  Self-employed tenants can deduct their allowable rent using Form T2125. What if a tenant isn’t self-employed but works from home as part of their employment? In that case, they also are eligible to deduct a portion of their rent on their tax return. Employed tenants who work from home must satisfy certain conditions to claim rent as an expense. These criteria are listed on Form T2200. The employer must fill out this document and provide it to the tenant to confirm their eligibility for the rent deduction. What documents does a landlord need to provide for tenants to claim rent on their taxes? To claim rent on their tax return, a tenant must obtain rent receipts from you as proof of payment. Though some tax programs don’t require them as part of the application process, it’s wise to keep them on hand should the CRA wish to review them. A simple PDF document will suffice as a rent receipt. It should contain the following details: Landlord’s name and contact details The address of the rental property Dates of all the rent payments made during the year Dates that the tenant lived at the property Total rent paid during the year Landlord’s signature and date of signing  The process is more formal regarding the Solidarity Tax Credit. You must provide your tenant with an RL-31 slip for them to claim the credit on their tax return.  Landlords who rent out a property in Quebec are legally required to file this slip with Revenu Quebec and supply a copy to their tenants. Our Final Thoughts Provided they meet the criteria, a tenant can claim rent on their taxes and recover some of the money they spend on this hefty expense. You can do your part as a landlord by supplying them with detailed rent receipts. Besides getting access to tax credits, you can also help your tenants improve their credit scores with each rent payment they make. This benefit is possible with the help of SingleKey’s Rent Collection tool. The Rent Collection tool lets you receive rent payments from your tenants online, which SingleKey reports to credit bureaus. As a result, your tenants will have a strong incentive to pay their rent on time, as making timely payments is an excellent way to boost a credit score. Or, to put it another way, they can use their rent payments to increase their financial freedom! Setting up automated payments using the Rent Collection tool takes just a few minutes. And there are zero transaction fees for your first three tenants. Sign up today through our Rent Collection page and say goodbye to cheques and trips to the bank forever! Learn more about our free rent collection --- ### Rent-to-Income Ratio Calculator: A Handy Tool for Landlords [Rent-to-Income Ratio Calculator: A Handy Tool for Landlords](https://www.singlekey.com/en/ownerkey/tenant-screening/rent-to-income-ratio-calculator-a-handy-tool-for-landlords/) Meta: Here's how a landlord can calculate a rental applicant's rent-to-income ratio and why this figure is so important when selecting a great tenant. Date: January 26, 2023 Author: Mark Gregorski Content: As a landlord, you know steady rent payments are vital to running a profitable rental business. You need a tenant who'll pay on time consistently—and to do that, they'll need to earn enough income to handle your monthly rent. One way to determine the health and reliability of a tenant's income is to calculate their rent-to-income ratio. A ratio that falls into the high-risk range (which we'll explain) signifies that a tenant is more likely to miss payments, hurting your bottom line. In this article, we'll show you how to calculate it and how to use it to reduce your risk of signing a lease with the wrong tenant. What is the rent-to-income ratio? The rent-to-income ratio is a financial metric that measures the percentage of income a tenant will use to cover their monthly rent. The formula for calculating the ratio is straightforward: (Monthly Rent / Monthly Gross Income) x 100. For example, if a tenant earns a gross monthly income of $4,000, and their monthly rent is $1,000, their rent-to-income ratio is 25%. Use the rent-to-income calculator Calculate another rent-to-income ratio using the calculator tool below: Rent-to-Income Ratio CalculatorGross income*MonthlyAnnuallyPay period*Monthly rent*Rent to income ratio-% Analyzing different rent-to-income ratios Here's the general rule of thumb for analyzing rent-to-income ratios: the higher a tenant's ratio, the more likely they are to miss their rent payments. Conversely, the lower the ratio, the more capable they are of meeting their rent payment deadlines. There's no one answer to what constitutes a good rent-to-income ratio. However, a widely used guideline is 30%. At this level, a tenant will likely have few issues making timely rent payments while still being able to cover their other everyday expenses. However, the 30% figure is too conservative in most cases – relatively few tenants will be able to hit this target, especially in Canada's more expensive cities. A more realistic, but still acceptable, figure used in practice is 35%. Tenants whose ratios reach this percentage are still considered "safe" - they usually have sufficient room in their budget to cover rent and other day-to-day costs comfortably. Tenants with ratios that fall between 40% and 50% pose a higher risk of non-payment of rent. They may face more challenges in juggling rent, food, transportation, utilities, and other costs. As a landlord, you can anticipate a lower profit margin in the long run if you offer lease agreements to this group of renters. However, these tenants can still cover their monthly rent if they have a stable income, ample savings, and low expenses. Tenants with ratios above 50% are at elevated risk of defaulting on their payments. A job loss or an unforeseen financial emergency can easily result in them falling behind on rent. As such, you ideally want to avoid renting to this category of tenants. However, ratios above 50% are becoming more common across Canada. Considering other factors with the rent-to-income ratio While the rent-to-income ratio is valuable, you should never analyze it in isolation when evaluating tenants. It's important to assess other equally crucial factors to obtain a holistic view of a tenant's finances. A notable limitation of the rent-to-income ratio is that it doesn't account for debts.  For some tenants, debt payments comprise a sizable chunk of their budget. Not surprisingly, it'll be much more challenging for them to pay rent on time compared to someone with a light debt load. For this reason, consider adding the tenant's total monthly debt commitments to the ratio. You'll get a far more accurate assessment of their ability to handle rent payments. In addition, never choose your ideal rent-to-income ratio based solely on rules of thumb or industry guidelines. While 30% is a good starting point, you should tweak your desired percentage based on other relevant factors, such as current economic conditions and location. For example, incomes during a recession tend to decrease, which means more renters than usual will have a higher rent-to-income ratio. Therefore, you may have to lower your standards to accommodate them. Otherwise, you risk losing them to your competition. Regarding location, renters who live in urban areas tend to have higher rent-to-income ratios. The reason is that real estate in cities is typically more competitive, and living costs are higher. Pro Tip: Never rely on the rent-to-income ratio exclusively to decide whether to approve or decline a rental application. You could get into legal trouble if you do, as some courts may view it as a form of discrimination, depending on the laws in your jurisdiction. The key to understanding rent-to-income ratios The biggest risk you face as a landlord is your tenant defaulting on their rent. By calculating the rent-to-income ratio for each candidate, you can quickly narrow the field to those most likely to pay you on time. Renting to someone with an excessively high rent-to-income ratio, say 60%, is risky. This type of tenant is more likely to struggle financially, as they'll be juggling multiple bills in addition to their rent. With a tight budget, it'll be more challenging for them to cover unexpected expenses. And should they lose their job, their day-to-day spending will rapidly drain their bank account. Eventually, they'll have little or nothing left for rent payments. Should your tenant consistently miss their rent, you may have no choice but to evict them. Unfortunately, evictions come with a steep price tag and can take a long time to resolve. On the other hand, a tenant with a low rent-to-income ratio poses much less risk for you. They'll be far more capable of paying their rent on time, even when they experience financial setbacks. Our final thoughts A rent-to-income ratio measures a renter's ability to pay timely rent. It tells you what percentage of their income they will dedicate to rent, allowing you to determine their financial stability. A higher ratio increases the risk of missed payments, while a lower ratio decreases it.  Industry guidelines typically quote 30% as an "acceptable" ratio, but 35% is a more realistic figure to target in practice. However, when choosing your ideal ratio, adjust it where necessary based on what's reasonable according to your location and economic trends. While the rent-to-income ratio is a valuable tool for screening tenants, it doesn't accurately depict their suitability alone. Always review other relevant financial and non-financial factors, like debt obligations, past rental history, and job stability, before arriving at your decision.  --- ### Tax on Rental Income: A Guide for Canadian Landlords [Tax on Rental Income: A Guide for Canadian Landlords](https://www.singlekey.com/en/ownerkey/finance-management/tax-on-rental-income-a-guide-for-canadian-landlords/) Date: January 5, 2023 Author: Mark Gregorski Content: As a landlord, you must report your rental income and expenses on your personal tax return (the difference between the two is your net rental income). However, if you’re a new landlord, knowing how to navigate the tax laws around rental income can be an intimidating experience. It can be tough even to know where to begin.In this article, we’ll cover some valuable tax information to help you prepare for your first tax season as a landlord. You’ll learn how to calculate your rental income, what expenses you can deduct, how to report your earnings to the Canada Revenue Agency (CRA), and more. We’ll also provide some tips for minimizing your tax bill.*Please note this article is for educational purposes only, always consulate an Accountant and/or Tax Specialist for advice specific to your tax return needs.Check out our Rental Income Tax Infographic for Canadian Rentals! Click Here to access full InfographicWhy you should start planning for tax season earlyOn your personal tax return, you must report to the CRA the total rental income you earned during the calendar year, meaning January to December. You’ll need to include it as part of your total taxable income, which the CRA uses to determine your federal and provincial tax.Since the law requires you to file your tax return by April 30th (June 15th if you’re self-employed), you may decide to wait until after December to tally up your income and expenses. However, it’s a good idea to kickstart this process before tax season rolls around. Ideally, aim to begin preparing your books in October or at least the beginning of December.The reason it’s wise to assess your numbers early is so you can estimate the amount of tax you’ll need to pay to the CRA. By knowing this figure in advance, you’ll have the opportunity to make crucial decisions about how to structure your deductions to minimize your tax bill.For example, suppose you anticipate that your total rental income for the year will bump you into a higher tax bracket. As a result, you’ll face a heftier tax bill than usual.In that case, it may be worthwhile to carry out necessary repairs and maintenance on your rental before the year ends rather than postponing them for the following year. You can deduct these costs against your rental income to lower your profit, thereby avoiding the higher tax bracket.How to calculate your rental incomeTo calculate your rental income, multiply your monthly rent by the number of months in the year in which you received payment. The resulting figure is your gross rental income. Next, subtract your total yearly expenses from your gross rent income to determine your net rental income. This figure is the amount you’ll need to report as part of your taxable income on your tax return.The CRA prefers that you calculate your rental income using the accrual method. Under this method, you report your monthly rent when you earn it during the year, no matter when you receive the actual money from your tenant. Similarly, you deduct any expenses you incur during the year, even if you never actually paid for them. However, most landlords report their transactions using the cash method. Under this method, you only record your rental income and expenses when you collect or disburse cash. CRA Canada Official GovYou can utilize the cash method only if:You have no amounts receivable and no expenses outstanding at the end of the year, and If your net income would be practically the same under the accrual methodHow to report your rental income to the CRATo report your rental income to the CRA will accept other types of financial statements, however the CRA highly encourages you to use Form T776,  Statement of Real Estate Rentals. In this form, you’ll fill in your personal information, income, and eligible deductions, including depreciation. You must submit this form (and any tax you owe) with your tax return by April 30.Click here for details on how to complete this document.You don’t need to submit a copy of your expense receipts alongside the T776 form. However, the CRA requires that you keep receipts, bank statements, and other relevant financial documents for seven years in case they wish to review them.How to claim your rental deductionsYou can classify rental income expenses into two categories: current expenses and capital expenses. Current expensesCurrent expenses are the everyday costs you incur to maintain your rental property throughout the year. They recur after a short period and don’t produce any long-term value.You can deduct any current expenses necessary to operate your rental. These include:Repairs and maintenanceCleaning costsMortgage interestHome insurance premiumsAdvertising costsProperty taxesUtilitiesOffice suppliesManagement feesTravel expensesProfessional services (accounting, legal, etc.)Condo or strata feesIf your rental isn’t your principal residence, you can claim the total amount of each eligible expense.Conversely, let’s say your rental is part of your principal residence. In that case, you can deduct 100% of expenses incurred wholly to earn rental income and a prorated portion of those that pertain to the entire property. For example, you can deduct 100% of a repair bill that relates strictly to the basement suite you’re renting out to a tenant but must prorate the property taxes.Capital expensesCapital expenses are costs you incur that add substantial value to your property, either by enhancing or extending its useful life. You can view them as investments rather than expenses. Any significant renovations or constructions you undertake to improve your rental is a capital expense. Examples include:Installing hardwood flooring throughout your entire rental.Replacing your kitchen cabinets Transforming your unfinished basement into a complete rental suite. Capital expenses can also include furniture, equipment, and appliances within your rental. And, of course, the rental property itself is a capital expense.You cannot claim the total cost of these expenditures as expenses against your rental income in the year you incur them. Instead, you can deduct the cost over several years by claiming capital cost allowance (CCA). This fancy term is the CRA’s version of depreciation. Interestingly, you can claim CCA in the current tax year or defer the deduction to future years. This feature of CCA provides the opportunity for some tax planning opportunities.For example, let’s say you expect to earn little income in the current year. In that case, it may be more advantageous to “save” these deductions for future years when you may find yourself in a higher tax bracket. Our Final ThoughtsYou can learn a lot more about the tax implications of rental income. However, this guide should give you enough clarity about the basic rules so that you won’t feel overwhelmed when tax season arrives.Understanding what forms to fill out and what deductions to claim is crucial. But if there’s one thing you take away from this article is that it pays to start planning early.Assemble your receipts and invoices and get your books ready before December ends. By knowing your financial figures in advance, you’ll have the opportunity to engage in strategic tax planning to ensure you pay the least tax possible. Wisely timing your current expenses and CCA deductions can help you lower your tax liability.One last tip: If everything we said still makes you feel uneasy, don’t hesitate to hire an accountant or bookkeeper to help you sort through the tax laws. A seasoned tax expert with real estate knowledge is invaluable and can save you a lot of hassle and headaches. Please note, this article is for educational purposes only; always consult an accountant and/or tax specialist for advice specific to your tax situation.Though SingleKey doesn’t offer tax advice, we provide a suite of helpful products and services to make your landlord experience more enjoyable and stress-free. One of these is the Rent Guarantee program, which can help cover lost rent payments, property damage, and legal fees resulting from a delinquent tenant. Visit our Rent Guarantee page to learn how this service can protect your rental property from financial disaster.Learn more about our rent guarantee --- ### Lease Renewals: Everything You Need to Know as a Landlord [Lease Renewals: Everything You Need to Know as a Landlord](https://www.singlekey.com/en/ownerkey/laws-regulation/lease-renewals-everything-you-need-to-know-as-a-landlord/) Date: December 23, 2022 Author: SingleKey Content: Does your tenant pay their rent on time, take good care of your property, and never cause you any grief? If so, you’re probably enthusiastic about offering them the opportunity to renew their lease with you.We don’t blame you for wanting to retain a first-rate tenant. After all, finding a new tenant requires considerable time, money, and effort. You must market your rental, sort through applications, screen tenants, conduct property viewings, etc.Renewing your lease with your current tenant lowers your turnover costs and allows you to maintain a steady rental income stream. Plus, you avoid the risk of bringing in a bad tenant.In this article, we’ve compiled everything you need to know to navigate the lease renewal process in Canada. You’ll learn how government regulations treat lease renewals, how and when to present a renewal offer to your tenant, and how to encourage your tenant to accept your new lease agreement.What happens when a fixed-term lease ends in Canada?All fixed-term leases are legally enforceable agreements with a clearly defined beginning and end date. Once you and your tenant sign a lease agreement, you’re both bound by the terms and conditions of the contract. While most fixed leases span one year, they can be for any length of time: six months, three months, 40 days, etc.But what exactly happens when a fixed term lease ends? Does it renew automatically or does the agreement need to be updated? Can your tenant remain in your rental, or do they need to vacate the property?The answer to these questions depends on where your rental property is located in Canada. In a province like Alberta, once a fixed-term lease expires, the tenancy automatically ends, and the tenant must move out if they haven’t arranged a new lease with the landlord. The landlord has no obligation to allow the tenant to remain in the property, nor do they need to provide them with any notice to move out. In other words, the lease agreement doesn’t automatically renew – it ends on the specific end date outlined in the document. To restore the lease, the tenant and landlord must sign a new lease agreement after the current term finishes.In provinces like Ontario and British Columbia, things work differently. Once a fixed-term lease ends, it automatically converts to a month-to-month tenancy should the tenant and landlord not sign a new fixed-term agreement. This arrangement continues indefinitely until the tenant or landlord decides to end it.In Quebec, lease renewals work similarly to those in Ontario and BC. Once a fixed-term lease expires, it renews instantly without requiring notice from the landlord or tenant. However, the lease renews for the same duration as the expired lease rather than continuing as a month-to-month contract. The exception is if the prior fixed lease lasted more than 12 months. In that case, the new lease will renew for a maximum period of 12 months.What are the steps for offering a lease renewal to your tenant?Preparing a lease renewal offer for your tenant is straightforward and doesn’t involve much paperwork. However, there are a few best practices worth following to maximize the chance of your tenant opting to stay rather than move out.If there’s one tip you need to heed, it’s this: inform your tenant about your intention to renew the lease at least three months before the current lease ends. Doing so will give your tenant enough time to review your renewal offer and decide whether to accept it or decline it. Plus, if they choose to move out at the end of the current term, you can get a head start in finding a new tenant. Suppose you wait until the last minute to present your lease renewal to your tenant, and they decide to bail. In that case, you risk having your rental sit empty for months as you search for a replacement tenant. The longer you go without a tenant, the more rental income you forfeit, hurting your profit at year-end. You can minimize this risk by being proactive and notifying your tenant early of their renewal options. Step 1: Determine the terms of the lease agreementIt’s perfectly acceptable not to make a single modification to your existing lease agreement’s terms. However, you may wish to review them and make any amendments you deem necessary. That way, your updated lease will be better aligned with your preferences and needs and those of your tenant.For example, you may incorporate a policy that requires your tenant to acquire tenant insurance if they don’t already possess it. Or, you can make your rental pet-friendly to boost its appeal, as many renters own pets.Another important consideration is a rent price increase. If you plan on hiking your monthly rental fee, research local rent prices and housing market trends to determine how much you should charge. Remember that each province and territory has laws that govern rent increases. These laws dictate:How often you’re allowed to raise your rent The maximum amount you can raise your rent each period How much, if any, notice must you give your tenant of an impending rent hike Check out our Rent Increase Guidelines report to learn about the rules in your province or territory.Step 2: Notify your tenant of the upcoming lease renewalOnce you’ve settled on your lease terms, the next step is to send a letter advising your tenant of the forthcoming lease renewal. Here are some of the details it should include:End date of the current leaseProposed length of the new leaseChanges to any key terms New monthly rent price, if applicableThe date the letter was sentThe date you wish to receive a response from the tenantYour contact information As mentioned, it’s wise to provide your tenant with this notice at least 90 days before the current lease expires. Step 3: Negotiate the lease terms with your tenantThere’s a chance your tenant may disapprove of your updated lease agreement’s terms. If that’s the case, arrange with them to discuss their concerns and answer any questions they may have. Ask them what lease features they don’t like and what changes you can make that’ll motivate them to stay on as your tenant.Step 4: Draft the lease agreementThe next step is to formalize the lease in writing. It’s prudent to document the updated terms in a brand-new lease agreement, even if you’ve only made minor alterations.Depending on where you live, the court may recognize a verbal lease as valid. Still, it’s better always to utilize a written lease as it serves as robust evidence should a dispute arise.When drafting the new lease agreement, ensure that it covers every aspect required by law in your jurisdiction. Here are free lease agreement templates that you can use.Step 5: Sign the lease agreementThe final step is for you and your tenant to sign the new lease. Send the lease agreement to your tenant for their review and approval. Once they sign off on the document, add your signature and provide them with a copy. That’s it – you can now file away the lease agreement and not look at it again until its expiration date approaches.Tips for encouraging your tenant to sign a lease renewalTo retain your tenant, you must craft a compelling lease renewal that speaks to their unique needs and wishes. It must match or exceed what the competing rentals have to offer. Otherwise, your tenant will move on to what they feel is a more promising deal. Here are some tips for what to include in your lease renewal offer:Don’t overcharge for your rentIf you plan to increase your rental fee, ensure the figure you choose it’s fair and reasonable and based on rent prices for comparable properties in your location. Don’t alienate your tenant by sharply hiking their rent to cover your expenses or boost your profit. There’s a good chance they’ll begin scouring the market for a new, affordable property if you do so.Add an incentive (or two) Adding some perks to your new lease agreement can persuade your tenant to stay long-term, so it pays to anticipate what they like and what would make their stay more convenient. Some incentives to consider are offering to pay utilities for part of the lease period, a free month of rent, a one-year deferred rent increase, or a complimentary service like carpet cleaning. Upgrade the propertyA substantial property upgrade that enhances your tenant’s living standards can inspire them to sign your new lease agreement. As the lease expiry date approaches, consider what type of improvement would resonate positively with your tenant. You can ask for their input, too. Reasons not to renew a lease with your tenantLease renewals provide some enticing benefits, but offering one to your tenant is not always ideal. Here are some examples of such scenarios:Your tenant is causing you troubleDoes your tenant consistently pay their rent late, damage your property, or instigate conflict with your neighbours (or perhaps all three!)? If so, you may be better off letting the current lease expire and finding a suitable replacement tenant than putting up with the grief and stress.You want to perform an extensive renovationA strategic and large-scale renovation can significantly boost your rental’s value and allow you to command higher rent prices. However, as long as your property is occupied, you’ll never get the opportunity to complete the work you need to get done. Declining to renew your lease can enable you to accomplish your task.You’re contemplating selling your property Suppose you anticipate selling your rental soon. In that case, you’re better off sticking to a month-to-month tenancy rather than signing a new, long-term lease agreement. You’ll have much more flexibility to plan your sale. Our final thoughtsLease renewals provide numerous benefits for you as a landlord. You can generate a steady rental income, save time and money to find a new tenant, and reduce the risk of losing money due to vacancy. If your tenant dutifully pays their rent on time and maintains your property well, proposing a lease renewal to them is a no-brainer.When crafting your lease renewal offer, it’s crucial to be proactive and act early. Inform your tenant at least three months before the current lease’s end date, so they have ample time to decide whether to stay or move out. Should they decline your offer, you’ll have plenty of time to find a new tenant, thus minimizing the risk of vacancy and lost rental income.Of course, you’re under no legal obligation to offer a lease renewal. If your current tenant is problematic, there’s no shame in looking for a new one. At SingleKey, we understand the critical role that timely, relevant, and reliable data plays in helping you choose the right candidate to be your tenant. For this reason, we created the Tenant Report. This comprehensive yet easy-to-read document provides you with a wealth of information about an applicant’s financial history and background, including:Credit score and credit historySocial media checkPublic document scan of over 200,000 databases worldwide Once you’ve purchased your report, you can download it in as little as five minutes! Learn more about our Tenant Screening Report --- ### 10 Great Christmas Gift Ideas for Tenants [10 Great Christmas Gift Ideas for Tenants](https://www.singlekey.com/en/ownerkey/tenant-relationships/10-great-christmas-gift-ideas-for-tenants/) Date: December 16, 2022 Author: Mark Gregorski Content: Giving a Christmas gift to your tenant is a great way to show appreciation for everything they do to take care of your property. It can go a long way in strengthening your relationship with them and encouraging them to be your tenant for the long term. If you’re struggling to find the perfect present, check out this list of Christmas gift ideas for tenants. Gift card A gift card is something every tenant will be thrilled to receive, as it provides them with the flexibility to purchase what they truly want or need. A Visa or Mastercard gift card is the best type to purchase, as these will provide your tenant complete freedom of choice in how to use them. You can also buy a gift card redeemable exclusively at a particular store or retail brand. In that case, it’s prudent to choose one geared toward everyday goods and services, like groceries. If your tenants are living on a low-income, they’ll be especially appreciative of this type of gift card. Just make sure the location is accessible to your tenant. If you know they rely on public transit to get around, they won’t be too thrilled about needing to travel to the other side of the city to use the card! A good price range for gift cards is between $25 and $100. When choosing the denomination, consider the size of your tenant’s household. A larger gift card is more suitable for a large family, while a smaller one is appropriate for someone who lives alone. Box of chocolates Few people don’t mind indulging their sweet tooth occasionally, especially during the Christmas holidays. For this reason, you almost can’t go wrong by choosing a box of chocolates or another tasty treat as your gift.  You don’t need to spend a bundle on chocolate. But since Christmas only comes around once each year, it’s worthwhile to put in the extra effort to get something unique and memorable. Consider making a trip to a specialty chocolate store and picking out something more extravagant.   Here are some great chocolate shops to explore, many of which ship orders across Canada: Purdys’ Chocolatier Chocolate Constance Popp Rheo Thompson Choklat Alicja Confections The Chocolate Lab Sweet Lollapalooza Confections Anne of Green Gables Chocolates Coffee mug A coffee mug is a popular gift choice for tenants, as it’s something they’re likely to use every day for a long time. Given their affordability and usefulness, you can purchase a whole set if your tenant has a family. There are plenty of eye-catching mugs available to choose from, so it’s easy to find a design your tenant would find appealing. As a bonus, consider filling the mug with coffee pods, tea bags, or hot chocolate packets. Bottle of wine While a bit cliché, a bottle of wine will surely be a hit with your tenant. Some brands can be pricey, but there’s no need to break the bank to find one they can enjoy for the holidays. There are some excellent choices available under the $50 mark. Gift Basket  Gift baskets are an excellent holiday gift, as they offer a diverse array of food and household items your tenant will readily use and enjoy. You can buy an impressive gift basket for under $50 at grocery stores like Costco. Most gift baskets center around food and beverages, so you can include the following: Chocolates Cookies Tea Popcorn Dried fruits Hot chocolate flavour  Chips Coffee pods Cheeses Spices Sauces Bottle of wine Meats Nuts  Household items like scented soaps, coffee mugs, kitchen utensils, lavender candles, and small decorations are also good choices.  Purchasing a pre-packaged gift basket is perfectly acceptable, but you can also customize one to give it a personalized touch based on what you think your tenant would enjoy the most. For example, you can base your items around a theme, like baking, coffee, spa, and gardening.  Here are some gift basket ideas to spur your creativity. Rent discount While not a tangible gift, we suspect surprising your tenant with a rent discount for the upcoming month will boost their holiday spirits! Your tenant will be super grateful to be able to save some money, especially if they’ve been struggling financially. Be sure to send a letter or email notifying your tenant about the discount before the upcoming rent payment to ensure everything is clear. Next Year’s calendar While many people use digital calendars on their smartphones today, a physical calendar for the upcoming year is still a great gift. It’s a practical item your tenant can stick on the fridge to list birthdays, special events, errands, and other important reminders. Like a gift basket, you can choose a calendar based on a theme that resonates with your tenant. In addition, you can provide extra value by getting a calendar that offers coupons from a local business – your tenant will appreciate the discounts heading into the New Year. Water bottle or thermos  A tenant who routinely works out at the gym or enjoys hiking will cherish a high-quality, reusable water bottle. There’s a wide array of water bottles to choose from, but most are inexpensive, so you can purchase an entire set for the tenant’s family if they have one. A thermos is an ideal alternative for those who love to drink a hot beverage on the go. It’s a versatile item they can use at home, at work, or on a camping trip. Look for one made of high-quality stainless steel or glass with a sturdy cap, elegant design, and superior insulation. Baking mix and pan If your tenant enjoys baked goods, a baking mix and pan is a nifty way for them to whip up some delicious holiday treats. There is a vast array of different mix and pan sets to choose from fudge brownies, gingerbread cake, shortbread cookies, buttermilk doughnuts, Cinnabon mix, pumpkin spice scones, and more. These DIY recipes make baking super easy and fun, as the package already contains all the essential ingredients in the proper proportions. You may even inspire your tenant to take on baking as their new hobby! Property upgrade While not necessarily a Christmas-oriented gift, a surprise property upgrade can brighten up your tenant’s holidays. Ideally, this should be one they’ve enthusiastically spoken about throughout the year or requested for you to do.  Some ideas include: Applying a fresh coat of paint on the walls Replacing an aging appliance Installing a smart device, such as a thermostat or video doorbell  Not surprisingly, a property upgrade may cost you more than a gift basket or a set of coffee mugs. However, the right improvement will keep your tenant happy and encourage them to stay for the long term. Plus, you’ll simultaneously enhance the value and appeal of your rental property. It’s a win-win for everyone.  Tips for tenant gift giving during Christmas  There are a few things you need to keep in mind when choosing your gift and how you present it to your tenant. You want to be genuine and thoughtful but avoid disrupting the professional landlord-tenant relationship you have with them. And, of course, you want to avoid committing any social faux pas.  Here are a few helpful tips for tenant gift giving:  Tip #1 – Don’t overspend Spending excessive money on a gift for your tenant is unwise, as it can undermine your relationship with them. A lavish gift can elicit mixed feelings from your tenant – they may feel embarrassed, confused, and even obligated to return the favour. Your tenant is your customer, not a family member or close friend, so strive to keep things strictly business rather than personal. That being said, you can factor in your rental type when deciding how much to spend. You can justify a higher price tag if it’s a luxurious property in an upscale neighbourhood. Tip # 2 – Be inclusive Remember: not everyone celebrates Christmas.  Therefore, it’s prudent to choose a gift for your tenant that reflects the holiday season rather than strictly Christmas. By doing so, you can avoid any feelings of ill will or even hostility. Tip # 3 – Buy each tenant the same gift  While it may be tempting to tailor each gift according to tenants’ preferences and likes, a far wiser approach is to standardize your Christmas gift-giving. The reason is to prevent resentment among tenants should one receive a less extravagant gift than another. Don’t give the impression that you’re playing favourites in your role as the landlord.   Tip # 4 – Write a personalized message   Expressing your appreciation in a card or letter accompanying your gift is a great way to add a personalized touch. Write a heartfelt and uplifting message thanking your tenant and wishing them well for the holidays.  Tip #5 – Don’t wait until the last minute   The days leading up to Christmas can be hectic, so get your tenant gift shopping done ahead of time. This is especially true if you have an extensive portfolio of properties and placing orders for gifts online. Deliveries surrounding the holidays can experience delays, so your tenants may not receive their presents until sometime in January.   Tip # 6 – Contact your tenant ahead of time   If you’ll be dropping off your gift in person, ensure you inform your tenant in advance. Not surprisingly, it’s rude and unprofessional to show up unannounced. And your tenant may have other holiday plans, such as heading out of town to visit their family. Arranging a convenient meeting time will allow you to present your gift without being intrusive. Our Final Thoughts While not essential to your job as a landlord, providing a Christmas gift to your tenant is a warm gesture that can leave a lasting impression. And you don’t need to spend much money to make your tenant feel valued and appreciated. A small, thoughtful gift is enough to keep your relationship with them on friendly terms while encouraging them to remain your tenant for the long run. Of course, a holiday gift isn’t the only way to do something meaningful for your tenant and keep them happy. You can do many small things to enhance their rental experience, including making the rent payment task a breeze. SingleKey’s Rent Collection platform allows tenants to pay their monthly rent online through pre-authorized debits. You can set up to three tenants for automatic payments in just a few minutes, free of charge. You can monitor rent payments in real-time and have complete flexibility to delay, skip, or cancel them based on your tenant’s needs. As a bonus, SingleKey reports all rent payments to Equifax, a feature that can encourage a tenant to pay on time so they can establish or improve their credit score. Learn more about our rent collection --- ### SingleKey Holiday Cards for Landlords and Tenants [SingleKey Holiday Cards for Landlords and Tenants](https://www.singlekey.com/en/ownerkey/tenant-relationships/singlekey-holiday-cards-for-landlords-and-tenants/) Date: December 9, 2022 Author: SingleKey Content: Happiest Holiday and New Year. Show your appreciation and send a card to your landlord, tenant or neighbour. Click below to download your FREE card. Download happiest holiday card Wish your tenant a Merry Christmas and Happy New Year! Remind them they can count on you for any emergency holiday requests and beyond. Download tenant holiday card Thank your tenants for their support and friendship this year by sending them a digital holiday card.  Download Ho Ho holiday card Have a great landlord? Send them your best wishes this holiday season with SingleKey! Download holiday season card --- ### How to Rent Out Your Home: A Step-by-Step Guide [How to Rent Out Your Home: A Step-by-Step Guide](https://www.singlekey.com/en/ownerkey/being-homeowner/how-to-rent-out-your-home-a-step-by-step-guide/) Date: December 2, 2022 Author: Mark Gregorski Content: Renting out your home can be an excellent way to earn a passive income and generate a solid return on your real estate investment. Increasingly more Canadians are choosing to become renters over homeowners, so there’s no shortage of demand for rentals. As a homeowner, you can capitalize on this trend.There are many different reasons you may wish to invite a tenant (or two) to live in your home: You have plenty of spare room and are keen on earning a side income. You’ve recently emerged from a costly divorce or lost your job and need extra money to cover your living expenses.You’ve moved into a new home with a large mortgage and are looking to offset the steep monthly payments by collecting rental income. While becoming a landlord can be financially rewarding, renting your home for the first time can be daunting. With no prior knowledge or experience, it can be tough to know where to begin and how to navigate challenges you may encounter along the way.In this article, we lay out the steps you need to take to ensure your first rental experience goes smoothly. We’ll cover the laws you need to comply with, how to market your home effectively, how to screen tenants properly, and more. If you’re the type who likes to get straight to the point, we’ve also condensed this guide into this handy checklist that you can download and refer to as needed:Let’s begin!Step 1: Learn the laws governing rentals in your jurisdictionKey Takeaways: Read and research your provincial residential tenancy act. This is the legislation that directly governs how you can rent out your property. It is foundational and you must know it. It is like showing up for a hockey game and not knowing any rules, how can you be an effective player?As a budding landlord, your first step is researching the various laws that apply to rental property. Doing so will help you avoid getting hit with a hefty fine or facing a lawsuit from your tenant.The rules and regulations surrounding rental properties vary between provinces and between municipalities within each province. To get started, visit your municipal and provincial government’s websites, and review the relevant regulations.Rental property standardsYour home must comply with local bylaws that set minimum housing standards. These laws are in place to ensure rental units are safe for tenants to occupy and provide access to essential amenities like heating, water, and electricity.Typically, these laws encompass the following categories:Residential zoning requirements Building codes Fire codesElectrical safety standardsHealth and safety standards Depending on the current state of your home, you may need to perform some renovations to satisfy your local bylaws, which may require obtaining one or more permits.Your rights and responsibilities as a landlordIf your property is already in top shape, your next step is understanding your rights and responsibilities as a landlord. Some topics you should consider reviewing include:Rent increases – Each province sets a cap on how much you can raise your monthly rental fee and how often.Tenant screening – Certain laws govern how you can screen and select tenants. For example, you’re not allowed to ask potential tenants questions deemed discriminatory.Repairs and maintenance – Generally, it’s your job as a landlord to ensure your home is in a good state of repair. However, you can usually pass on small tasks to your tenants, such as testing the smoke alarm.Inspection report – an inspection report attests to the property’s condition when the tenant moves in and when they move out. Each province has rules that outline when and how to conduct this inspection.Tenant eviction – Each province has rules that dictate when you’re legally allowed to evict a tenant and the procedure to follow.Damage deposit – some provinces allow landlords to collect a damage deposit, while others disallow the practice.Step 2: Enhance your home’s curb appealKey Takeaway: You want to leave a great impression on the first 20 seconds your prospective tenant sees your property! Imagine you are the tenant looking for your next home. What feelings do you have as you walk up the steps to the front door?For many people, curb appeal is a vital aspect of the rental experience – they want to live in a place that imparts a sense of comfort and tranquillity. Thus, you risk losing a quality tenant if your property appears battered and grimy. By sprucing up your home to make it sleeker and more vibrant, you’ll capture the attention of more renters. Here are some tips for enhancing your home’s curb appeal: Wash all doors and windowsApply a fresh coat of paint to the exteriorAdd stylish lighting along the pathway to your front doorTrim overgrown plants and treesCut the grass and pull the weedsReplace worn-down fencingUpgrade your front door Remove any clutter from the front and back yardsClean the outdoor furnitureAdd more plants and flowersBefore applying any fancy upgrades, remember to focus on the glaring issues. Attend to the cracked paving stones, rotten fence boards, and chipped paint on the doors before adding any fancy upgrades. And when it comes to greenery, less is better, as it can be a chore to maintain a collection of exotic plants properly.Step 3: Market your homeKey Takeaway: Different listing sites are popular in certain geographical areas. Put yourself in your tenant’s shoes and do a number of google searches with different key words and take note of the top 3 search results. Next make sure you are comparing apples to apples for rent, for example does the rent include utilities?Once you’ve finished beautifying your home’s exterior, it’s time to get it listed on a rental website where it can garner interest from renters. For this step, you’ll need to create an informative and compelling advertisement.First, you need to take some strategic and high-quality photos. The goal is to showcase each of your home’s rooms and highlight all its features. Be sure to tidy up your home before you start snapping pictures so that the layout and structure of each room are visible. Capture your photos in the presence of bright lighting, too.Second, write a clear and concise summary that communicates all the relevant details about your property that a prospective tenant would be interested in knowing. Here’s some information you can cover:Basic features: square footage, number of bedrooms and bathrooms, appliances, parking availability, type of kitchen countertop, etc.Nearby amenities: proximity to public transportation hubs, parks, shopping malls, schools, etc.Rental fees – the monthly rent price, security deposit details, rent discounts, etc.Utilities – mention what utilities your rent price covers and which it doesn’tRestrictions – disclose any crucial rules that tenants must abide by, such as those that pertain to smoking or pets.Once you’ve created an ad you’re satisfied with, post it, along with your contact details, on the rental property listing website of your choice.Step 4: Accept inquiries from renters and ask pre-screening questionsKey Takeaway: Make sure you have a phone script of the key questions to ask so you are able to take calls confidently and you don’t accidentally miss asking a key question!After some time, you should receive a decent number of inquiries from people expressing interest in becoming your tenant. Contact these individuals and conduct a pre-screening interview to determine if they meet your basic qualifications.At this stage, you can begin curating a list of who has the potential to be a quality tenant (this is also the time when you may spot red flags in some candidates). If you’re unsure of what to ask, here’s a list of questions to get you started:What is your monthly income?When do you plan on moving in?Why are you moving out of your current home?How long have you lived in your existing home?Do you have any pets?How many people will be moving in with you?Do you smoke cigarettes?Do you consent to a credit and background check?Have you ever been evicted?Have you ever broken a lease agreement?Would you be willing to provide a reference from your employer and past landlord?Can you pay the security deposit and the first month’s rent before moving in?Are you willing to commit to a one-year lease agreement?Remember that you don’t have free reign to ask any questions you wish. Any personal questions that violate their human rights are strictly prohibited. The Fair Housing Act and your jurisdiction’s Human Rights Act outline the types of questions you should never ask during your interview. By law, you must treat each applicant with respect and dignity and provide them with a fair opportunity to become your tenant. You cannot reject a candidate based solely on traits like age, gender, ethnicity, disability, or marital status.  Step 5: Conduct Viewings and Provide Rental ApplicationsKey Takeaway: Show up 10-15 minutes before the viewing to prep the property for viewings (open blinds, windows, lights on, turn up heat, etc) Whatever you can do make your rental more inviting and presentable!Individuals interested in renting your home will want to visit your property to assess if it meets their needs, preferences, and expectations.Arrange with each candidate a time and day to conduct a viewing. It’s wise to book all appointments for the same day, preferably during the weekend. That way, you can complete the viewing process efficiently.Ensure that you tidy up your home and resolve any last-minute issues before you proceed with viewings. Patch up holes in walls, fix broken appliances, steam-clean the carpet, etc. It’s important that your home looks presentable and makes a great first impression.After each viewing, provide each candidate with a rental application form to fill out and return to you. Make sure you request the following: Personal details (full name, address, date of birth, contact details, etc.)Copy of government-issued identificationEmployment referencesPast landlord referencesDetails of any other people (and pets) who’ll occupy the propertyProof of income (pay stub, bank statement, letter of employment, etc.)Step 6: Receive rental applications and screen potential tenantsKey Takeaway: As you perform your due diligence, your goal is to validate as many data points or facts. The more information you can confirm to be true, the more informed decision you can make on who to rent to!Once you receive the completed rental applications, the next step is to screen each candidate to determine their suitability for tenancy. Typically, this step involves assessing their credit report, background report, and references. Credit reportA credit report provides an overview of an individual’s credit history, including the amount of debt they carry, their payment habits, and whether they’ve ever defaulted on their debt obligations. It may also contain their credit score, a financial metric measuring their overall creditworthiness.From this report, you can gauge the applicant’s ability to make timely rent payments, which is the most vital characteristic of a quality tenant. Here are some of the details you should examine in a tenant’s credit report:Credit score – In Canada, credit score ranges from 300 to 900. A high score indicates the applicant manages their debt and bills wisely, never taking on too many liabilities and making timely payments. A low score suggests the opposite.Payment history – assess whether the applicant has any past due amounts owing, how behind they are on payments, and how often they pay late.Type of debt – what kind of debt does the applicant carry? Is it high-risk debt that charges steep interest rates like unsecured lines of credit or payday loans? Or is it low-risk debt like a car loan or student loan? Total debt amount – determine how much debt the applicant owes and how much they pay each month on their accounts. Credit limits – check how much credit they have access to on credit card and line of credit accounts and liberally they utilize it. Large balances may indicate a propensity for excessive spending, which could result in them falling behind on their rent payments.Bankruptcies, consumer proposals, and accounts sent to collections – any of these negative items indicate the applicant has experienced severe financial problems in the past or is still recovering from them. While an applicant can supply their own credit report, obtaining it directly from a third-party source is preferable. The reason is that individuals can easily alter documents or create fake ones from scratch.SingleKey offers a comprehensive and easy-to-read credit report that provides a treasure trove of financial data to help screen tenants. Once you purchase your report, it’s available to download in as little as five minutes!Background reportAn applicant’s background report offers insight into their behavioural patterns and past transgressions. Depending on your report’s details, you could uncover criminal records, negative news stories, and past evictions, which may be enough to persuade you to pass on the applicant. You can also review their public social media profiles to gain insight into their personality and past education and employment. By doing so, you can spot potential warning signs that indicate the applicant will be a troublesome tenant.Employment and past landlord referencesReaching out to the applicant’s current or past employer and any prior landlords is vital for two reasons. First, you can verify whether or not they’re being honest and accurate regarding the information they provide on their application. Second, you may discover new (possibly unfavourable) details that you otherwise would have overlooked or never considered in the first place.Questions you can ask the applicant’s employer include: Are they currently employed at your company?How long have they worked at your company?What’s their monthly salary?Are they responsible and respectful? Questions you can ask the applicant’s past landlords include: Did they pay their rent on time?Do they still owe you any unpaid rent?Did they get along with their neighbours?Did they cause any damage to the property?Did they keep the property clean?Step 7: Select your tenant and have them sign the lease agreementKey Takeaway: Make sure to check and verify a government issued photo identification to ensure they are who they say they are on the lease!Once you’ve thoroughly screened each applicant, choose the one that best matches your qualification requirements. Inform the applicant that you’ve accepted them as a tenant and send them the lease agreement to sign. The lease agreement is a legal document that outlines the rights and responsibilities of the landlord and tenant, which stem primarily from the laws in your province. Each jurisdiction has specific rules about what your lease agreement must cover. And depending on where you reside, you may need to use a standardized form. Here are some key terms a lease agreement typically covers: Name of each tenantThe date the tenant(s) can move inRestrictions on illegal activitiesLease durationMonthly rental feeAcceptable rent payment methodsServices and utilities included in the monthly rentSecurity deposit Repairs and maintenance Notice requirements for entering the propertyRestrictions on tenant alterations to the propertyPetsSmoking and cannabis useSubleasingParking Be sure to clarify any terms the tenant needs help understanding and address any questions they might have. Once they’ve signed the agreement, add your signature, and send them a copy within the legally required time frame. Step 8: Collect the damage deposit and first month’s rentKey Takeaway: Always make sure you have received the funds fully deposited into your account before you give possession!The next step is collecting the tenant’s damage deposit and the first month’s rent. As with lease agreements, the rules surrounding these payments vary between provinces. A damage deposit (or security deposit) pays for costs you incur to repair or replace something within your home that your tenant breaks, steals, or loses. You can also use the funds to cover unpaid rent, cleaning costs, and other obligations your tenant fails to honour as part of their lease agreement. Typically, the maximum damage deposit amount you can charge is the equivalent of one month’s rent.In some provinces, like Ontario and Quebec, you cannot legally ask tenants to provide a damage deposit. In Ontario, you can request your tenant to pay a rent deposit (usually referred to as last month’s rent). However, you can only use the funds to cover unpaid rent – never property damage. In Quebec, you’re not allowed to ask your tenant for a damage deposit or a rent deposit.The first month’s rent is the rent fee your tenant pays before they officially move in and take possession of your home. It’s essentially a prepayment.For example, let’s say you and your tenant sign a lease agreement on August 17, and the lease begins on September 1. The monthly rent is $1,200. In that case, you would collect $1,200 from your tenant and record the payment as an advance for September’s rent. As a result, the next rent payment would be due on October 1.Step 9: Complete the move-in inspection and choose a possession dateKey Takeaway: Document, document, document! Enhance your move-in inspection with photos and video! The more information you collected on the state of your rental will set the bar and make it easier to show proof of damages down the road should you need to collect on damages.The final step in renting your home is performing a move-in inspection alongside your tenant. Essentially, you will assess the property’s condition and report your findings. Move-in inspections are mandatory in Canada for rental properties. The purpose of this procedure (sometimes called a “walk-through) is to hold you and your tenant accountable for the state of the property and set expectations for care and maintenance. A rental move-in inspection shows which damages existed before the tenant took possession and which occurred during the lease term. In case a dispute arises regarding property damage, indisputable evidence shows who bears responsibility.Each jurisdiction has rules that dictate how and when to do a move-in inspection. For example, in Alberta, a move-in inspection: Must occur one week before or after the tenant moves inMust occur between 8 a.m. and 8 p.m.Cannot be scheduled on a holidayIdeally, you should schedule the move-in inspection the same day the tenant takes possession of the property. To prepare for the inspection, declutter your home and move out your furniture so that there’s ample space and every area is visible. In addition to documenting the tenant’s observations in writing, consider taking photos and videos.Once the move-in inspection is complete and the report signed, the tenant can legally assume possession of the property. Before you hand over the keys to your tenant, it’s good to provide them with a move-in checklist that outlines helpful details about the property and tips for basic maintenance. For example, you can supply instructions for testing specific devices like smoke alarms and changing the batteries as needed. The checklist should also verify that they’ve received a signed copy of the lease agreement and note the completion of the move-in inspection. Lastly, ensure it contains your emergency contact information.Have the tenant sign the checklist and then add your signature as well. Keep the original document for yourself and send them a copy.That’s it – you’re officially a landlord!Our Final ThoughtsAs you can see, renting out your home takes a lot of work, especially if this is your first time doing so. Yes, you can realize a boost in your income, but being a landlord also entails a fair amount of responsibility, due diligence, and tenacity. For these reasons, it’s wise to begin the journey by learning how the rental process works one step at a time. By doing so, you can avoid many of the pitfalls that new landlords routinely face, like getting stuck with a nightmare tenant. Still in need of a helping hand to make your first landlord experience a great one? SingleKey offers the following products to set you on the right track:Tenant Report – this handy report gives you a wealth of knowledge about an applicant’s background and credit history. Dig into the details to determine who to accept as a tenant and who to avoid.Rent Collection – this online rent collection tool lets tenants pay their rent online through pre-authorized debit, which means you never have to collect cheques again. It also sends automatic reminders to tenants as the 1st of the month approaches.Rent Guarantee – this program will cover your rental income for up to 12 months, up to $60,000, should your tenant default on their rent payments. You also qualify for property damage coverage for up to $10,000 and $1,500 in legal fees.Learn more about our rent guarantee --- ### How to Raise Rent Without Complaints from Tenants [How to Raise Rent Without Complaints from Tenants](https://www.singlekey.com/en/ownerkey/tenant-relationships/how-to-raise-rent-without-complaints-from-tenants/) Date: November 7, 2022 Author: Mark Gregorski Content: Periodically raising your rent price is crucial to running a successful rental property business. Over time, your operating costs will increase, and inflation will chip away at your bottom line. As a result, you’ll need to adjust your rent upwards to maintain your cash flow and earn a healthy return on your investment. Unfortunately, your tenants may not be thrilled when they find out you’re hiking their rent! After all, no one enjoys seeing their bill payments go up. You may alienate your existing tenants, causing them to seek a new rental property once their current lease expires. The prospect of upsetting your tenants may make you feel nervous and shameful to consider increasing your rent, even when warranted. However, with sensible planning and thoughtful communication, you can safely raise your rent without provoking complaints from tenants. Follow the tips below to keep your rental profitable and your tenants happy. Tip #1: Determine how much to raise your rent Your first task is to determine how much you’ll increase your rent. It’s crucial to get this number correct for two reasons:  Your new price must be high enough to cover your operating costs. If you consistently shortchange yourself, your profit will decline over time. Your new rent price needs to be low enough to appeal to renters and minimize tenancy turnover.  Essentially, it’s a balancing act: you want to keep pace with inflation and rising business costs while encouraging your tenant to renew their lease. So, what’s a reasonable amount for increasing your rental rate each year?  There’s no one answer for each rental property, but a general rule of thumb is to raise your rent between 2% and 5% annually.  There are three primary factors to consider when assessing how much to raise your rent:  Your operating expenses The average rent price in your location Renovations you’ve done to your rental  Rental property expenses Keeping up with your operating costs is crucial if your goal is to maintain a consistent profit each year. Examine your budget line by line to determine how high your most common operating expenses have risen. These can include: Property taxes Property insurance premiums Repairs and maintenance Utilities Landscaping  Tenant screening fees Garbage collection Property management fees Marketing and advertising Professional services (accounting, legal, etc.) Comparable rental rates in your location Naturally, the higher your expenses have risen, the more you can justify hiking your rent price. However, it’s vital to understand that your monthly expense total should never solely influence your rent price increase. If you follow this strategy, you risk overcharging for your rental and dissuading renters from becoming your tenants. Ultimately, it’s best to charge what the market will bear. Researching price trends for rental properties in your area is essential to ensure you charge a fair rent fee. You can obtain the information you need by: Browsing rental listing websites like Craigslist, Kijiji, and Realtor to see current rent prices on comparable rental properties Using a rent comparison tool like Rentometer to learn the average rent price in your area for rental units similar to yours Attending local real estate meetups to hear presentations and speak with attendants about market trends Renovations If you’ve done significant upgrades to your rental, you can justify charging a rent price much higher than your current one. Just make sure that the amount you choose aligns with prices for properties that resemble your property. Tip #2: Follow the rent control laws in your jurisdiction In Canada, each province and territory has rent control laws to protect tenants from predatory pricing by landlords. It’s your responsibility to ensure you comply with these regulations.  Rent control policies dictate the following: How often you’re allowed to raise your rent The maximum amount you can increase your rent each lease renewal period Whether or not you can increase your rent to the market rate if your tenant vacates your rental unit (this is called vacancy decontrol).  For example, In Ontario, property owners can increase their rent price once every 12 months for an existing lease by up to 2.5%. However, should the current tenant voluntarily move out, they’re free to charge whatever rate they wish for the replacement tenant (meaning vacancy decontrol is allowed). Here’s a summary of each jurisdiction’s rent increase guidelines for 2023. Tip #3 Raise your rent gradually each year It’s usually unwise to postpone raising your rent many years into the future. By then, your expenses may have grown so high you’ll have no choice but to saddle your tenants with a steep rate hike. As a result, don’t be shocked if they become upset, pack their belongings, and leave. Gradually increasing your rent over time places less pressure on your tenants’ finances. They’ll have more time to adjust their budgets and grow accustomed to the higher price. You can inform new tenants in advance by stating in the lease that you expect to increase rent prices for the next three by a certain percentage. That way, they know what to expect once they sign on the dotted line. Tip #4: Provide your tenants with plenty of notice In most provinces, you’re required by law to provide your tenants with a minimum number of days (usually 90) of written notice of a rent increase. However, this time frame can vary based on certain factors, such as whether the tenancy is monthly or weekly. You must also include in your document all the relevant details mandated by your province’s legislation. Regardless of the regulations, the earlier you notify your tenant of the impending rent hike, the better. By informing them sooner, you allow them more time to prepare and save additional money if necessary. They’ll appreciate the courtesy and be more inspired to stay rather than move out. Tip #5: Be open and honest about why you’re increasing your rent Being transparent and candid with your tenant can help you avoid complaints and confrontations. Here’s how you can approach communicating a rent increase: Explain that you’re facing rising expenses and reference specific examples, such as property taxes and insurance premiums. However, avoid citing inflation as a factor in your rent hike, as not all tenants may understand or relate to the concept.  Provide data showing comparable rent prices in nearby properties. If your tenant sees evidence that your new rent price is reasonable, they’ll be more willing to stay. Provide details about local rent control laws. This will show your tenant that you fully comply with each regulation and aren’t practicing price gouging.  Note any improvements you’ve made to the property during the year, such as replacing the floorboards, purchasing a new fridge, or remodelling the bathroom. Explain that these upgrades will help keep the property up to date and enhance the living conditions.  Close the letter by explaining to your tenant that you’d like them to stay and are happy to answer any questions or concerns they may have. Remember: be professional, respectful, and friendly in your tone. Tip #6 Add incentives to encourage your tenants to stay Suppose your current tenant has been renting your property for many years. They pay their rent on time and keep the unit clean and tidy. In that case, consider throwing in some incentives to encourage them to renew their lease despite the rent increase: Offer a gift card Perform some complimentary repairs and maintenance, such as steam cleaning the carpet Purchase a dishwasher install an air conditioning unit Do minor renovations with input from the tenant – for example, repaint the walls in the colour of their choice Offer a free or deeply discounted amenity, such as Wi-Fi   Few people will say “no” to saving money on rent, so consider offering a discounted rate for tenants who choose to stay long-term. For example, you can waive the rental fee for the first month upon lease renewal. Or you can offer to reduce the rent increase by 1% if the tenant chooses to renew 90 days before the current lease ends. You can also propose a two-year lease agreement with a promise to freeze the rent for the second year. Our Final Thoughts As a landlord, you’ll likely need to raise your rent periodically to preserve your profit margins. Naturally, rising operating costs will play a key role in how much you decide to increase your rent. But, in reality, you must set your price based on what the rental market will bear – not simply what your budget dictates. No tenant likes to hear the news that they’ll be paying more for rent. But if your rent hike is reasonable and fair, and you explain the increase in a friendly and transparent way, they’ll be less inclined to complain. Throwing in a few incentives, especially if they’ve been a respectful and punctual tenant for many years, doesn’t hurt either. While rent hikes can help you maintain a healthy bottom line, there’s no guarantee your tenant will continue to pay their rent indefinitely. For various reasons, tenants can suddenly fall behind on rent payments, and your expenses can start piling up quickly when they do. The worst situation is when a tenant refuses to leave your property. Sure, you can file a complaint with your local residential tenancy board to kickstart the eviction process. But you may have to wait many months to present your case. During this time, you’ll be helpless, watching your rental lose money with each passing month. To say this is a nightmare scenario for a landlord would be an understatement! SingleKey offers the Rent Guarantee program to eliminate this risk of lost rental income by covering your tenant’s missed payments. The program guarantees your rent for up to 12 months, up to $60,000. Plus, you can receive up to $10,000 in property damage and $1,500 in legal fees – and, if needed, you get access to a paralegal team to guide you through a tenant eviction! Learn more about our rent guarantee --- ### Announcing the SingleKey Acquisition of Naborly! [Announcing the SingleKey Acquisition of Naborly!](https://www.singlekey.com/en/announcing-the-singlekey-acquisition-of-naborly/) Date: October 25, 2022 Author: SingleKey Content: Hi all — my name is Viler Lika and I am the co-founder and CEO of SingleKey, your trusted partner for tenant risk management solutions. Today is a very special day for our team here at SingleKey: we have acquired Naborly Inc, a leading tenant screening provider in North America. What does this mean? For starters, with this acquisition we have now grown to become the #1 tenant screening provider in Canada for landlords and property managers. By joining forces with an industry pioneer like Naborly, we plan to combine their best-in-class data, technology, and user insights with our platform to build a differentiated tenant screening solution to help Canadian landlords better manage tenant risk.  Over the next few weeks, we will transition Naborly accounts to SingleKey where Naborly users will be able to access their existing Naborly reports as well. Naborly users will have access to all the tools they’ve grown to love, with the new addition of SingleKey award-winning technology and customer service. Thank you all for being along for the ride — there is a lot more to come. BetaKit  Financial PostOTHER SOURCES The Logic Yahoo BusinessWire Finsmes Crunchbase Venturecapitaljournal Manavigator APnews blogTO AiThority --- ### SingleKey Survey: How Landlords Approach Rental Renovations [SingleKey Survey: How Landlords Approach Rental Renovations](https://www.singlekey.com/en/ownerkey/renovation/singlekey-survey-how-landlords-approach-rental-renovations/) Date: October 25, 2022 Author: Mark Gregorski Content: During the beginning of Autumn, SingleKey surveyed over 200 landlords – and proud SingleKey customers – to hear their take on one of the most critical aspects of running a rental operation: renovations. Given how costly and time-consuming renovation projects can be, we were interested in learning how landlords approach them. We also wanted to know what challenges they face and collect renovation tips to share with budding landlords. Not surprisingly, our survey results revealed that landlords’ primary motivation in renovating their rental units is to boost profitability and remain competitive in the rental market. We learned that landlords: do extensive research and planning to ensure their investment yields a solid return prioritize the needs of tenants focus on areas that are the most lucrative, and monitor costs closely to avoid overspending. In this article, we’ll explore these topics and more to learn how landlords successfully navigate a renovation project. Let’s begin! Why renovate a rental property in the first place? Nearly 67% of landlords said they primarily renovate their rentals to attract higher-quality tenants. This result isn’t surprising, as one of the keys to a profitable rental business is finding and retaining renters who pay timely rent and keep the property neat and clean. Careless, negligent, and irresponsible renters are more likely to cause damage to a property and miss rent payments. The outcome is lost rent income and higher expenses, especially if the landlord needs to evict the tenant. Other common reasons cited for renovations include general upkeep and to justify a higher rental fee, at 55% and 42%, respectively. These figures indicate that landlords wish to keep their property well-maintained to ensure its appeal and grow revenue consistently. Only about 22% of landlords said their renovation goal is to boost the value of their rental. Most intend to rent their property for the long run and earn a steady income. They’re not looking to flip their property for a quick buck. The importance of gathering multiple quotes No matter the size and scope of the renovation, keeping costs reasonable is vital to earning a solid return on the project. It’s never wise to accept an offer from just one general contractor. Most landlords agree with that sentiment, as nearly 51% obtain, on average, price quotes from at least three contractors. Over 8% seek a cost estimate from at least four sources. Obtaining a quote from a minimum of three sources seems to be a rule of thumb for any major renovation project, so it’s no surprise that half of the respondents chose this number. By securing multiple estimates, landlords can better gauge the average cost in the market and compare contractors wisely. How landlords prefer to conduct research for a renovation project Over 68% of respondents replied that they seek the advice of friends or people they trust to provide helpful advice on their renovation plans. A similar percentage said they also consult with a tradesperson or another professional to gain further knowledge about how to approach their renovation project. A sizable portion of landlords indicated they turn to YouTube (43%), various websites (29%), and online forums/social media groups (23%) to gather information. These figures highlight the growing authority of online influencers, DIY YouTube channels, discussion groups, blogs, and social media channels. More and more experts increasingly provide valuable tips on property renovation in the digital world. Landlords will happily consider their advice if they deem the source trustworthy and credible. What’s the most common area of a rental property to remodel? About 65% of landlords plan to remodel the kitchen in their rental. A sleek, modern, and versatile kitchen is a big selling point for many renters, so landlords won’t hesitate to give it a facelift if need be. And of all the areas in a rental property, the kitchen has the potential to generate the most profitable return on investment.  The second most common area that landlords focus on is the bathroom, which can potentially increase the property’s value by an average of 16%. Not surprisingly, over 59% of landlords indicated their renovation plan includes a bathroom makeover. About 30% of landlords replied that they were doing a full-scale renovation. This figure suggests there are quite a few aging properties on the market that need a major upgrade, and landlords are willing to get the work done. Rental renovation pitfalls – what are landlords concerned about the most? Nearly 80% of landlords cited cost overruns as their biggest concern in undertaking a renovation project. The higher the renovation price tag, the longer it will take to recoup the investment, so it’s no surprise that most strive to keep their expenses reasonably low. Around 53% of landlords said they worried about the renovation not being completed on time. Usually, the longer a project takes, the more expensive it will be, as labour and material costs increase with each delay. Plus, if tenants are required to vacate the unit during the renovation, the landlord loses out on more months of rental income. Over 44% of landlords expressed concern about the personal commitment required to carry out a renovation. This figure suggests that many landlords lack the time and inclination to do the work needed. They may prefer a hands-off approach to property management and wish to outsource the entire project. Tips for new landlords When asked to share their best renovation tip, most landlords we surveyed replied with the following three: Do proper research and planning before starting Sourcing multiple quotes, asking contractors questions, and gathering as much information as possible on best practices are essential for any landlord before tackling a renovation project. Determining the project’s scope and creating a budget is also important, as is obtaining any permits and following all local government regulations. Failing to do all the above can result in major cost overruns. Pay extra for higher quality While excessive spending is a big no-no for a rental renovation, being too frugal isn’t ideal either. Landlords must take steps to provide tenants with a living space that’s modern, convenient, and eye-catching. Their property must satisfy the rental market’s demand, which may entail splurging in some areas. Otherwise, they’ll fail to attract high-quality tenants. Do the work yourself to save money Because rental renovation costs can quickly spiral out of control, many of the landlords we surveyed suggested taking the DIY route to complete a project. As an example of how pricey things can get, the average kitchen renovation in Canada is approximately $31,000. The lower the cost, the higher the return on investment. For this reason, many landlords prefer to do the work personally wherever possible.  What stands in the way of a successful renovation project? Sixty-four percent of landlords indicated the massive commitment in time and money as the most challenging part of revitalizing a rental. Landlords may spend a considerable amount of money to obtain permits, prep the work site, purchase materials, hire professionals to complete specific tasks, etc. And handing control over the project to a general contractor is even more expensive. The number of hours needed for a large-scale renovation is overwhelming for some landlords, too. Some have full-time jobs, family commitments, and other priorities that make it impossible to squeeze in the time for renovation work. Thirty-six landlords said finding the right contractor is a significant hurdle in the renovation process. Finding a contractor capable of completing the work to a high standard, at a reasonable cost, and on time can be challenging. Also, landlords without experience analyzing quotes and vetting contractors may not know how to spot a quality candidate – or one to avoid. Final Thoughts Our survey results show that landlords don’t take rental renovations lightly. Considerable time, effort, and money are needed to coordinate such a project. If done poorly, a renovation will take away rather than contribute to a rental’s profitability. The main takeaway from the survey is that a business-oriented mindset is crucial for a successful rental renovation. Landlords spend considerable time crunching numbers to ensure their efforts generate the highest return at the lowest cost. If you’re contemplating a renovation of your rental, taking this approach will help you make profitable decisions and avoid costly pitfalls. Are you new to rental renovations? Then browse our Rental Property Renovations Guide for some valuable tips. If you do things right, your newly transformed rental will draw first-rate tenants and give your rental income a boost. Still, unforeseen issues can arise that threaten your bottom line. Suppose your tenant suddenly falls behind on their rent payments. Or they cause considerable damage to your property. In either scenario, you may have no choice but to evict them, in which case you could end up spending a bundle.  SingleKey’s Rent Guarantee program will allow you to reap the benefits of your rental renovation while eliminating the financial risk of troublesome tenants. You’ll receive compensation for up to 12 months of lost rental income up to a maximum of $60,000. Plus, you’ll also receive up to $10,000 in damage protection. Learn more about our rent guarantee --- ### SingleKey + Naborly FAQ [SingleKey + Naborly FAQ](https://www.singlekey.com/en/singlekey-naborly-faq/) Date: October 19, 2022 Author: SingleKey Content: Welcome to SingleKey! SingleKey is excited to welcome Naborly users to the SingleKey Community. Naborly users can look forward to the best screening experience in Canada, as we merge our screening platforms. We are committed to ensuring a smooth transition for all Naborly users. Please read further for more information. Read the press release here About SingleKey SingleKey helps homeowners take the risk out of renting, building trust between landlords and tenants. SingleKey offers the fastest and most comprehensive tenant screening tools in the market, as well as Canada’s only Rent Guarantee Insurance program. SingleKey also provides tools and processes to help landlords with rent collection. We continue to develop new products and services to take the stress and risk out of renting. Seamless Account Transfers Before November 1st, 2022, please continue to use your Naborly account as usual. Naborly users will be transitioned to the SingleKey Platform on November 1st, 2022.By activating your SingleKey account, Naborly homeowners can access: Enhanced Tenant Screening services via the SingleKey Tenant Report Guaranteed Rental Income with the SingleKey Rent Guarantee Program Automated Rental Payments with the SingleKey Rent Collection Program Additional benefits for landlords and Tenants! On or after November 1st, 2022, Naborly customer accounts will be automatically transferred to SingleKey. You can access your new SingleKey account by logging into your Naborly account Your Naborly reports will continue to be available to you in your SingleKey account for up to sixty (60) days following purchase Our SingleKey Customer Success Team members are available to assist you with your account transfer at info@singlekey.com or by phone at 1 (877) 978-1404 SingleKey Enhanced Tenant Screening The SingleKey Tenant Report is similar to the Naborly Pro Report, but contains more information. Here are a few key differences:View Sample Report Here -> Ordering reports is easy! You can screen prospective tenants by: Inviting the Tenant to fill out our online rental application (like Naborly) by providing a SingleKey link, or by Entering Tenant info (with signed consent) to run the report without inviting the tenant. Any questions with respect to earlier Naborly report purchases should be directed to support@naborly.com Guaranteed Rental Income The SingleKey Rent Guarantee program protects landlords against tenant rent default. We have grown to become the leading provider of the Rent Guarantee program in Canada. The Rent Guarantee program includes: Guaranteed Rent: Up to 12 months or $60,000 Damage Protection: Up to $10,000 in damages Eviction Support: Paralegal fees up to $1,500 SingleKey has been operating its Rent Guarantee program continuously across Canada since 2019. This is our proprietary program and not a version of the discontinued Naborly Shield product.  SingleKey’s Rent Guarantee program is robust. We are a participating member of a Protected Cell Captive insurance company that is 100% re-insured by a carrier rated A+ by A.M. Best. For more information on the program, please book a call with our sales team here. Upgraded Information Security The security and integrity of your information is important to us. SingleKey uses identity verification tools, verifying every landlord user in order to prevent malicious activity and instances of fraud. We work with cutting-edge technology partners to keep up with the latest security protocols. SingleKey does not keep a record of your passwords or payment information. Landlord FAQs What will happen to my Naborly account? Before November 1st – Please continue to use your Naborly account and process tenant screenings as usual. The Naborly website and app will function the same as always, but with quicker processing times and improved customer service. After November 1st – Your Naborly Account will be automatically transferred to the SingleKey platform, at no charge. You can log in with your  same Naborly credentials. Your existing Naborly reports will be available in your new SingleKey account for sixty (60) days after the date of purchase. For future tenant screenings, you will be able to order a SingleKey Tenant Report. What about the Naborly report(s) that I purchased? Any existing Naborly reports purchased before November 1st, that still appear on your account, will be transferred to your SingleKey account, and will be available there for sixty (60) days from date of purchase. You will be able to log into your SingleKey account with your same Naborly account credentials. How does the SingleKey report differ from the Naborly report that I’m used to? The SingleKey report is similar to Naborly, but contains more information as shown on this sample report. Here are a few key differences: Full Equifax Credit Report including all tradelines. Naborly does not include tradelines or creditors on their Equifax credit report. Includes a Background Check that is not included in Naborly.  Includes a Social Media Scan that will crawl the web to find the tenant’s public social media accounts Bonus: we also offer a free Pre-screening tool to filter applicants before viewings as well as a Leases Generator to autofill your lease agreement (ON, AB, BC, QC) How do I order a SingleKey report? Is the process different from Naborly? You may order a report by: (a) inviting the tenant to fill out our online rental application, and providing a SingleKey link (like Naborly) OR (b) if you have the tenant’s info and consent, you can enter tenant information and run the report without having to invite the tenant. For more information refer to our order page here or see a quick instructional video here. Does SingleKey run a soft or hard credit check on potential tenants? Will this check affect the tenant’s credit score? Singlekey runs the same type of rental credit inquiry with Equifax that Naborly does. The credit inquiry will appear on the applicant’s credit file, however, it will not have a significant impact on their credit score, since this is not an application for credit. How does the SingleKey pricing compare to Naborly? Is there a subscription?  Pricing is similar to the Naborly Pro Screening at $24.99 (in Canada) We only charge a one-time fee per tenant check. No monthly subscription or services fees. You can pay yourself, or request the tenant to pay. SingleKey does not offer a multi-tiered report as Naborly did, but we plan to offer the ability to customize what is included in your report by the end of the year. What is the SingleKey Rent Guarantee program? SingleKey offers a Rent Guarantee program that protects landlords against tenants who don’t pay rent or damage property. The program includes: Guaranteed Rent: Up to 12 months or $60,000 Damage Protection: Up to $10,000 in damages Eviction Support: Paralegal fees up to $1,500 Tenant Screening (2 Free Tenant Reports) Online Rent Collection (PAD) Starting at 5% of Monthly Rent For more information on the program, book a call with our sales team here. How does your Rent Guarantee compare to the Naborly Shield Program? Some of you may be familiar with the discontinued Naborly Shield product. SingleKey has been operating a similar, stronger, Rent Guarantee program continuously across Canada since 2019. SingleKey is a participating member of a Protected Cell Captive insurance company that is 100% re-insured by a carrier rated A+ by A.M. Best. We have grown to become the leading provider of this type of program across Canada. How does the SingleKey Rent Collection work? SingleKey offers a FREE Rent Collection tool to automate and centralize your rent collections. Pre-Authorized Debit (PAD) direct deposit means you can set it and forget it. Your first 3 rent collections are FREE for an unlimited period. Connect with your tenants to receive payments automatically every month using Pre-Authorized Debit. Our secure payments processing app allows you to automatically withdraw rent each month, giving you more time for other things. Rent Payments are reported to the credit bureaus to help tenants build credit and incentivise timely payments. I’m a larger property manager – how can I create and manage our team accounts?  Our B2B sales and support team is available to support your needs and set-up access and billing structures to support larger teams. SingleKey’s Customer Success team will work with you to set up appropriate User Permissions for your team members, and provide white-glove customer support. What are your hours of operation and contact information? Our awesome CS team will be available to answer any questions between:Weekdays: 9 am – 7 pmSaturdays: 10 am – 2 pmClosed SundaysEmail us at: info@singlekey.com or call: +1 877-978-1404 Tenant FAQs What happened to my Naborly Passport? The Naborly Passport was discontinued prior to the SingleKey transition. For any requests regarding the passport or subscriptions, please contact support@naborly.com and any requests will be handled according to Naborly company policy What services are offered to tenants? SingleKey is building a Tenant Portal (coming soon). Tenants will have the ability to run their own credit reports, and share it alongside multiple rental applications, so that they don’t have to run a new credit report with every new application. The tenant portal will also give access to special offers on tenant insurance and other relevant services! --- ### Rental Property Renovations – The Ultimate Guide [Rental Property Renovations – The Ultimate Guide](https://www.singlekey.com/en/ownerkey/renovation/rental-property-renovations-the-ultimate-guide/) Date: October 14, 2022 Author: Mark Gregorski Content: Renovating your rental property is one of the best ways to ensure it remains competitive in the rental market – and earn you a hefty profit for years to come. A well-thought-out renovation can help you attract higher-quality tenants, reduce your operating costs, allow you to charge a higher rent price, and even boost your rental’s value. However, a rental property renovation can be tricky to execute, especially if you lack the knowledge and expertise to do it yourself. As with most things, there’s a right and wrong way to approach a renovation project. In this detailed guide, we’ll explore: The critical decisions to make before you begin your project Which areas of your rental to prioritize to maximize your return on investment How to keep your costs low and choose materials that will last for many years without the need for replacement When and why you should hire a general contractor to get the job done Let’s begin! Chapter 1: What to consider before you begin your renovation project A concrete plan is crucial before making your first trip to the hardware store. With the right strategy, you’ll have a firm grasp of your renovation’s goals and constraints, allowing you to tackle the project with fewer obstacles and sleepless nights. Home renovation vs rental renovation Have you recently revamped your home? If so, you may have to recalibrate your mindset before tackling a rental renovation. A significant difference between a home renovation and a rental renovation is you have the freedom to commit more time, money, and your unique preferences, to the former. With a rental renovation, the goal is to ensure your property meets modern standards to be a contender in the rental market – nothing more. So always view each aspect of the renovation strictly as a business decision. Ask yourself the following: will doing this produce an adequate return on my investment? Will renters respond favourably to how I’ve transformed the property? Tenant considerations Brainstorm a list of things the average tenant would find desirable in a rental unit. By doing so, you can concentrate your efforts on aspects of your rental that genuinely matter and will net you a healthy return on your time and money. While catering to the everyday tenant is fine, you may need to narrow your focus if you rent exclusively to a specific demographic. For example, a first-year college student’s preferences and needs will differ from a family with young children. It’s also prudent to be conscious of the type of neighbourhood your rental is located in, including the level of affluence and nearby amenities. The location may dictate the kind of renters you attract and their expectations. Budgeting Determining how much you want to spend is critical to a successful and profitable renovation. Over-the-top spending can put a severe dent in your rental business’ bottom line. As a result, it’s essential to determine how much you can reasonably spend. By knowing your financial constraints, you can make wiser renovation choices by asking yourself critical questions like the following: What rooms in the rental unit deserve the most attention? Is it worth installing new kitchen cabinets or just repainting the existing ones? Are there things that can be repaired rather than replaced? Are there ways to save money by using cheaper materials that are still durable and long-lasting? Size and scope Your budget will dictate the size and scope of your renovation. How much work do you anticipate doing to enhance your rental property? Do you foresee only painting and minor upgrades to faucets, light fixtures, and handles? Or do you envision a full-scale renovation that necessitates completely gutting entire rooms? Are you struggling to choose where to focus your energy and money? If so, the safest bet is to concentrate on areas of your rental that will produce the greatest return on investment. Then, you can dedicate your remaining funds to touch-ups and cosmetic upgrades. We’ll discuss some of these in chapter two of this guide. Rules and regulations Observing your local and provincial housing authorities’ regulations governing property renovations is crucial. You don’t want to break any laws and risk paying a hefty fine or becoming embroiled in a lawsuit with a tenant. If you currently have a tenant living in your rental, inform them about the remodelling work you plan to do and what the job will entail. You can ask for their input and preferences, too. For example, you can have them choose the colour for the walls. To complete a large-scale renovation, you may temporarily have to evict your tenant from the property. In that case, the law requires you to give your tenant a written notice, anywhere from a few months to a year in advance. However, in some jurisdictions, evictions associated with renovations are more challenging to carry out or prohibited entirely. In the latter case, it’s preferable to speak with your tenant and devise an alternative solution to eviction (such as providing them with temporary accommodation elsewhere). Here are some examples of eviction rules that pertain to rental renovations. In Ontario, you must give your tenant a minimum of 120 days’ notice using the N13 Form In Alberta, you must provide your tenant with one year’s notice. In Quebec, it’s illegal to evict a tenant to do renovations. In British Columbia, you must apply for an Order of Possession from the Residential Tenancy Branch to evict your tenant. Sometimes, the tenant can safely remain in the rental while the renovation occurs. But the project could still be disruptive to their daily lives. As a result, be open about what they can expect regarding noise, access to the premises, the project duration, etc. By law, you must reasonably minimize the disruption and interference to the tenant under the common law principle of quiet enjoyment. Permits Depending on the nature of your renovation, you may need one or more permits from your municipality before carrying out the project. Your rental must meet basic requirements for health and safety, fire protection, and electrical standards and comply with zoning bylaws. Generally, a permit is necessary if your renovation project entails altering the structure of your property or its internal systems. Examples include: Adding new windows. Installing a fireplace. Converting your basement into another rental space. Upgrading the plumbing system  You can find details about various permits by visiting your municipality’s website and navigating to the page that relates to property development. Below are links that outline building permits for some of Canada’s major cities: Calgary Edmonton Vancouver Toronto Montreal Ottawa Chapter 2: Best Renovations for your rental property It’s wise to dedicate your time and money only to upgrades that will net you a solid return on your investment while avoiding those that add little or no value. Below are some of the best renovations you can perform on your rental property. Remodel the kitchen If one room in our rental is worthy of your attention, it’s the kitchen. It’s the area that renters will likely scrutinize the most closely and judge the most harshly. Renovating your kitchen is arguably the most worthwhile home improvement project you can undertake, with a potential 20% return on investment. However, a kitchen overhaul can quickly devour your renovation budget (and then some). According to Homestars, you can expect to pay between $19,500 and $52,000 to revamp a medium-sized kitchen. And the price tag for an upscale renovation for a large kitchen can reach close to six figures. Luckily, you don’t need to spend a small fortune to yield a solid return on your investment. Quick cosmetic fixes and other modest upgrades can have a massive impact on how tenants perceive your kitchen.  For example, repaint and add trim and new handles to the cabinets rather than replace them, as they’re usually the costliest portion of a kitchen renovation. Add some fashionable light fixtures, a discreet backsplash, a shiny new faucet, a sturdy countertop, and some new appliances, and you’re good to go. Upgrade the bathroom Next to the kitchen, the bathroom is typically the other room renters will evaluate strongly, so this is another area to prioritize. Start with the noticeable improvements, such as replacing the toilet, or only the seat, if need be. Upgrading the faucet and shower head is also wise, as is replacing the sink. Next, consider the size and functionality of the bathroom. Is there enough storage room for towels, soap, and other items? Can it accommodate multiple people (assuming it’s the only bathroom in your rental)? If not, you can add more shelving units and install a second vanity. Replacing the bathtub with a walk-in shower can is a great way to maximize space, especially if your bathroom is small and crowded. Enhance the exterior Never underestimate how your rental presents itself on the outside. Your rental may look sleek and stylish on the inside, but if the exterior is dirty, messy, and worn-down, it could be enough to dissuade renters from applying for a lease. If your rental’s exterior has seen better days, it’s time to revitalize it. As with the interior, start with simple fixes and upgrades: Clear out the weeds. Trim the grass, trees, and shrubs. Upgrade your walkway with new pavers, bricks, gravel, or the material of your choice. Apply a fresh coat of paint throughout your rental’s exterior or at least power wash it.   Feel free to add some greenery to embellish your property’s exterior, such as flower beds, planter boxes, and shrubs. Just remember to keep things simple, so your tenants aren’t overwhelmed with maintaining the landscaping. Revitalize the floors Flooring can significantly affect how your rental property appeals to tenants. After all, they’ll be walking over it daily, so they’ll notice! Suppose your rental property is currently covered in carpet. In that case, it’s a good idea to tear it out and replace it with a more durable and attractive flooring option. Carpet is unappealing to many tenants and has declined in popularity over the years. While it’s a warm and cozy material when brand new, it easily traps dust and dirt, making it harder to clean over time. Hardwood is often touted as the material of choice for floors, as it’s easy to maintain, long-lasting (up to 25 years), and exudes elegance. However, it’s also one of the priciest flooring options around. Plus, it’s prone to water damage. A much less expensive alternative is luxury vinyl plank. This material is durable (can last 10 to 20 years), waterproof, and requires little maintenance. Add popular amenities Incorporating sought-after amenities is a great way to make your rental property stand out from the competition. The right amenities can enhance your tenant’s quality of life, making their stay more comfortable and convenient. Here are some amenities to consider as part of your renovation. Washer and dryer unit. It’s safe to say most people would rather avoid taking constant trips to the laundromat to clean their clothes. Save your tenant’s the hassle of doing so by purchasing a washer and dryer combo for the property – they’ll thank you. Fencing. If your property lacks a fence, it’s wise to build one. It provides privacy and allows the tenant’s children and pets to play in the yard safely without wandering into the back alley or neighbors’ property. Storage space: You can garner the attention of many renters by offering generous storage space. Some options to contemplate are adding a walk-in closet, installing extra shelving units, or building a pantry. Air Conditioning: Though the winters in Canada can be long and harsh, the country does experience bouts of extreme heat during the summer months. Installing an air conditioning unit in your rental property can make a big difference for tenants who find sweltering heat unbearable. Outdoor living space: An outdoor living area, such as a patio, is a desirable amenity for many tenants. It allows them to relax after a long day at work, enjoy a drink with friends, grill a steak on a barbecue, etc.  Furniture: Including furniture as part of your renovation can be a huge draw for some tenants. Some first-time renters may lack the funds to furnish the rental upon moving in. As a result, they’ll greatly appreciate a rental that offers a couch, dresser, kitchen table, and a few chairs.  Update the cosmetics If you’re working with a small budget, updating your rental’s cosmetics is an easy way to enhance its look and feel. Even tiny changes can substantially transform your property, adding a modern dash of style and elegance throughout. Here are some easy fixes that can liven up your property: Paint: An excellent place to begin is to apply a fresh coat of paint on your walls and door frames. It’s a cheap investment that requires little effort but yields tremendous value. Light fixtures: By installing modern light fixtures, you can brighten up your rooms and make each space feel cozy, sleek, and inviting. There’s a wide range of styles to choose from, and many are reasonably priced. Handles and knobs: Adding new hardware to your door knobs, drawers, and cabinet handles are cost-effective improvements that stand out. Trim: Add a splash of character to your drab kitchen by installing trim on the cabinets and drawers. Baseboards: Damaged baseboards make a property feel aged and cheap, so consider painting them or replacing them entirely. Chapter 3: Tips, tricks, and hacks for getting the most out of your rental renovation No matter how extensive your rental renovation is, it’s crucial to employ best practices at every step and explore unique and cunning methods to maximize your investment. Repair rather than replace It’s no secret that repairing something is far more cost-effective than replacing it. For this reason, create a list of things in your property that you can rejuvenate by performing DIY repairs. Of course, it helps to have a flair for handy work. But even if you’re not familiar with home improvement basics, you turn to a helpful YouTube video from an expert showing you step-by-step how to complete a particular procedure. Also, you can refer to your user manuals (you did keep those, right?) Here are a few DIY repairs that are valuable to know as a landlord: Troubleshooting appliances: Replacing a malfunctioning appliance or calling a professional to repair it can cost you a bundle. However, in many cases, an appliance breaks down due to a single defective or worn-out component, like a drive belt, thermostat, or fuse. Identifying and replacing the part in question is more financially savvy than purchasing a brand-new appliance. Fixing simple plumbing issues. Clogged sinks and toilets may seem intimidating at first. However, in many cases, you can straighten out these issues with the aid of a few simple tools and materials. These include pliers, an adjustable wrench, a plunger, thread seal tape, and caulk. To resolve more severe clogs, you may need to obtain an auger (or drain snake). Patching holes in walls: You save money and increase your walls’ lifespan by personally patching up any gaps. You’ll need a few tools to get the job done, such as drywall mud, a putty knife, and sandpaper. Alternatively, you can purchase an all-in-one drywall repair kit. Fixing leaky faucets: The constant drip from a leaky faucet can be quite irritating. Luckily, it’s an easy fix in most cases. Typically, as this guide demonstrates, you only need to loosen a handle, remove the old faucet stem, and install a new one. Maintaining your HVAC system: Should your HVAC system go awry, it can be an immense pain to get it running again – you’ll likely need to call in a professional. However, you minimize any issues through routine maintenance, such as changing the filter and cleaning the refrigerator coils. Fixing electrical switches and outlets: Do faulty switches and outlets plague your rental? If so, you can often solve these issues by replacing the device or tightening any loose wiring. Just remember to turn off the circuit breaker before you begin! Be creative – look for unique ways to save time and money Brainstorming crafty solutions during each stage of rental renovation can help you finish your project sooner and keep more money in your pocket. A little ingenuity can result in some neat hacks, such as this one involving closet doors. Here are some other nifty tips and tricks to explore: Standardize as much as possible: Sticking to a choice of style, design, or material can be beneficial both from a financial and logistical perspective. This is especially true if you’ll be renovating multiple rental units simultaneously. For example, choose the same paint colour for all your rooms to keep things consistent. By doing so, you won’t need to waste time tracking down the exact paint colour once you run out of your initial batch. Plus, you may receive a discount by purchasing the same colour in bulk. Install a keyless entry system: There are several reasons you should ditch physical keys for a keyless entry system for tenants: No need to constantly change locks, doorknobs, and deadbolts when a new tenant moves in A keyless entry system is easy to install and maintain – simply set up a new entry code each time a new tenant arrives Ability to track who’s entering and exiting your rental Better security for tenants Be strategic and creative with lighting: Buy light fixtures that can accommodate the most common and affordable light bulbs. Alternatively, you can purchase adaptors that will allow you to retain your current installations while using a cheaper bulb. Perform simple repairs using household items – Sometimes, there’s no need to purchase an entire toolbox to fix a troublesome issue. For example, you may be able to unclog a sink with the help of a plunger, boiling water, baking soda, vinegar, and a wire hanger. Tenant-proof your rental property With possibly multiple tenants living in your rental over many years, significant wear and tear on the property is inevitable. For this reason, it’s vital to pay close attention to the materials you choose for your renovation. First, you should strive to keep your costs low – using pricey and lavish materials is unnecessary to attract quality tenants. Second, focus on durable, easy-to-repair materials that require little maintenance. The more damage a material can withstand over a long period, the better. We’ve already discussed how installing luxury vinyl plank over carpet is a no-brainer. Here are some other ways to tenant-proof your rental: Install tiles on the bathroom floor Linoleum may seem like the ideal flooring material to use in your rental’s bathroom, as it’s relatively cheap, soft on bare feet, and easy to clean. However, it’s not the ideal material for the following reasons:  It’s not waterproof It may darken if exposed to sunlight for too long It’s not as visually appealing as other materials It requires hiring a specialist to install it  On the other hand, ceramic or porcelain tiles are more stable and waterproof. Plus, they’re cost-effective, require little maintenance, and look stylish. Use quartz or laminate for the kitchen countertop Quartz is arguably the most superior choice for kitchen countertops. It’s tough, heat resistant, impervious to most stains, easy to maintain, and doesn’t require resealing. That being said, the primary downside of quartz is its steep cost compared to other types of countertop materials. If your primary concern is keeping your costs low, it’s hard to beat laminate. Just be aware that it’s quite vulnerable to burns, warping, chipping, and moisture, so you may need to replace it frequently. High-quality paint Durability matters even for a seemingly straightforward aspect of your renovation, like the type of paint you choose. Paint that can withstand scratches, scrapes, and dings is a worthwhile investment. High gloss paint can absorb a lot of damage and is easy to clean, making it a superb choice for things like cabinets and doors, which your tenants will touch often. Semi-gloss paint works great for areas prone to moisture or grease, such as the kitchen and bathroom. Satin paint is well-suited for high-traffic areas like the living room. Keep things simple and timeless It pays to avoid blindly chasing trends and choosing outrageous styles for your rental property. Stick with timeless designs and materials and opt for straightforward patterns and colour schemes. In doing so, you’ll need to do fewer renovations in the future. Paint the walls a neutral colour Do your rental walls need a fresh coat of paint? If so, choosing a neutral colour is the most practical and sensible option. Most tenants prefer discreet and subtle colours as they work with various design styles and blend nicely with other colours.  Remember, your tenant will be the one who personalizes the rental unit according to their unique taste, not you. So, be conservative and select a colour that can accommodate as many décor themes as possible. Avoid outdated designs and styles Obsessively following design trends isn’t wise – the public is fickle, so trends come and go. However, ensure you avoid remodelling your rental according to aesthetics that are either outdated or slowly fading away. You risk impairing your property’s resale value and driving away tenants if you do. Some trends to avoid include: Wallpaper Popcorn ceiling Fast furniture Tile countertops Wood panelling Terrazzo White appliances Vertical blinds Sponge walls Here are some more trends to steer clear of, along with ones to consider instead Chapter 4: DIY or hire professionals – which should you choose? Once you’ve created a concrete renovation plan, the next step is to decide whether you’ll carry out the project on your own or with the help of qualified professionals. So, which is the best choice – performing the renovation yourself or hiring a  general contractor to do it for you? Here are the benefits of both options: Reasons to hire a general contractor to do the renovation You lack time. Many people own rental properties because it’s a reliable way to earn a passive income. They may have a full-time career, family, and other responsibilities that occupy most of their day and aren’t keen on tearing apart floorboards and painting walls. If this describes you, hiring a contractor to do the renovation is worth the extra expense. You lack the experience, permits, and licenses. Have you ever completed a home remodelling project before? If picking up a drill fills you with anxiety, it’s best to hand the reins over to a contractor with the necessary skill set, know-how, and tools to bring your vision to life. Many also provide a warranty as part of their services, so you can contact them in the future and have them correct any defects. In addition, if your renovation requires one or more permits, the only way to obtain them may be by working with a certified contractor. Your renovation project is extensive and complex. Typically, hiring a contractor for a large-scale renovation is the way to go. This is especially true if you intend to renovate multiple properties at once. An extensive renovation project encompasses many tasks: acquiring permits, hiring subcontractors, ordering materials and supplies, tracking costs, performing inspections, etc. Letting a general contractor take charge, monitor progress, and resolve any issues is usually a wise option. Reasons to do the renovation yourself You have the right skills, tools, and experience. Are you an experienced contractor with all the necessary qualifications and licenses to properly conduct the renovations? If that’s the case, getting your hands dirty and personally bringing your renovation to fruition is worthwhile. Not only will you save a nice sum of money in the process, but the project may be enjoyable and empowering as you watch your vision slowly come to life. If you need additional help, you can seek reliable professionals on an as-need-basis, such as electricians and plumbers. The scope of the renovation is small. Not all rental renovations require hiring a small army of professionals to execute. Assuming that you’re comfortable working with tools and know the basics of home improvement, you can: Install light fixtures Paint the walls Install new hardware for cabinets, doors, and drawers Replace the toilet Add new shelving units Replace the countertop You’re working with a tight budget. Quality doesn’t come cheap. If you wish to hire a reliable and reputable contractor, expect to pay a hefty invoice upon completion of the project.  Suppose you have few financial resources to dedicate to your renovation project. In that case, you may have no choice but to do most of the work yourself.  Whenever you obtain a quote for the estimated project cost, always add another 20 percent on top to account for possible cost overruns. Understanding contractor quotes Let’s say you’ve settled on hiring a contractor to renovate your rental. In that case, you’ll need to know how to read and assess a quote, a document issued by the contractor that specifies the work to be done and estimated cost to complete it. By properly analyzing the quote, you can determine if the price is reasonable, whether you’ll need to scale back the renovation, and better keep track of costs as the project advances. Know what unit cost is used Each aspect of a renovation requires work from different trades, all of which account for the cost of materials they use in a particular way. It’s useful to know how they derive their costs so you know if you’re getting a favourable deal. Here are some standard unit costs to familiarize yourself with: Know the quantity of material required for the job The quantity of a specific material used by the contractor will vary based on the project’s size. However, whatever amount they source for the job should be appropriate, neither too much nor too little. A surplus will result in you overpaying for the job. A shortage will require the contractor to purchase extra material, leaving you to pay more than originally quoted. Let’s use drywalling as an example. For a drywall job, the contractor will calculate how many square feet to cover with drywall and then determine how many sheets to purchase. Let’s assume a 4’ by 8’ sheet of drywall will cover 48 square feet of area. Therefore, the contractor will determine the total square footage of the surface area and then divide the resulting number by 48 to estimate the amount of material to order. When it comes to drywall, you can expect up to 20% of waste material. Naturally, the contractor won’t purchase fractions of drywall sheets to match the square footage precisely – they’ll cut standard-sized pieces to make it fit. You can expect excess material from other types of work like painting, flooring, and roofing.  Determining the material required for various jobs is easy with the help of home improvement calculators. Know the number of labour hours required A quote that details the amount and cost of materials is essential. But it’s even more valuable if it includes the labour cost as a separate line item. Labour costs are often a massive component of the total price you end up paying. So it’s worth knowing how many hours it may take to complete the renovation and the hourly rate. Not all trades list their labour and material costs separately. But it’s information worth asking for, as it will provide you with a baseline to measure costs accurately as the project progresses. Tips for finding and working with a general contractor Compare multiple quotes. Never hire the first contractor you find online. Instead, obtain quotes from at least three firms. By doing so, you’ll get a sense of the price range for your specific renovation project and be able to choose the best deal possible. While using Google is a convenient way to find well-established, reputable contractors, be sure to ask for recommendations from family and friends, too. Conduct proper vetting. Be sure to ask your contractor plenty of questions when you first meet with them. Ask to see their licenses and certifications. Inquire with previous customers about their experience with them. If possible, visit a current worksite to see how organized it appears, and the quality of work done. Enter into a detailed written agreement. Create a contract with your contractor that outlines the cost of various expenses and the renovation’s expected duration. It should specify a project start date and completion date. That way, you can determine how many months of rent you’ll forego if your tenant must temporarily vacate the property. Maintain open communication. Always be honest, transparent, and diplomatic when engaging with the contractor and their team to keep the renovation on track and free of bottlenecks. Ensure everyone is aware of the expectations regarding the safety and well-being of nearby residents and tenants.  Our Final Thoughts There’s an infinite number of ways you can transform your rental property to attract top-notch tenants and give your rental income a boost. Here are the keys steps to follow to complete a successful (and profitable) rental renovation   Create a plan: Consider the needs of your ideal tenant, craft a budget, determine the size and scope of the project, and list what permits, if any, you’ll need to acquire to ensure your project complies with your city’s regulations. Choose which renovations to focus on: Concentrate on areas of your rental that need the most attention and will provide the best return on your investment (kitchen, bathroom, etc.) Look for ways to maximize the return on your time and money: Repair everything you can, utilize creative home improvement hacks, choose long-lasting materials, and focus on simple and timeless design styles. Decide whether you’ll do the renovation personally or hire a general contractor: If you opt for a contractor, ask them for detailed quotes, assess their references and prior work, and create a solid contract. By following these steps, you can successfully navigate your rental renovation while avoiding stressful and costly pitfalls. However, if you wind up with a troublesome tenant, things can still head south. Your renovations won’t amount to much if your tenant suddenly stops paying their rent. Whether through neglect or blatant carelessness, they may also cause significant damage to your property, which the damage deposit may not cover fully. And, if you need to evict them, your expenses can skyrocket, as carrying out an eviction can cost a small fortune. SingleKey’s Rent Guarantee program provides the tools and financial resources to help landlords protect their rental business when faced with a delinquent tenant. Under the program, you’ll receive payment for up to 12 months of lost rent (up to $60,000 in total), plus reimbursement for property damage (up to $10,000). You’ll also have access to a paralegal team to help you navigate the eviction from start to finish – no tedious paperwork for you! Learn more about our rent guarantee --- ### Good Tenant Bad Credit: What You Need to Know [Good Tenant Bad Credit: What You Need to Know](https://www.singlekey.com/en/ownerkey/tenant-screening/good-tenant-bad-credit-what-you-need-to-know/) Date: September 27, 2022 Author: Mark Gregorski Content: A credit score is a financial metric that measures an individual’s creditworthiness or the risk of lending money to them. The higher a person’s score, the more favourable it is to extend credit to them. Banks and lending institutions frequently analyze this three-digit indicator when evaluating loan applications. But landlords also use it to gauge tenants’ ability to pay rent on time. Let’s say you spot a low credit score on a tenant’s credit report. Does that mean they’re a terrible tenant who’ll routinely miss their rent payments and cause you grief? The answer is “no.” A poor credit score doesn’t necessarily imply a low-quality tenant. While it does serve as a way to identify potentially high-risk applicants, it doesn’t tell the whole story. Other aspects of their application could more than redeem them for this one blemish. As a result, it’s crucial to dig into the details regarding a tenant’s finances and explore options that can reduce your risk of renting to them. Here are five things to consider when evaluating a tenant with a bad credit score. 1. Examine the rest of the credit report It’s wise to evaluate a tenant’s entire credit report before deciding whether to grant them tenancy or not. Here are some essential items to assess. Payment history Naturally, this section is particularly relevant as it showcases the tenant’s ability to meet payment deadlines. Examine how many accounts they currently have open and use actively. Do they have a history of late payments? If so, how many days on average do they pay late (30, 60, 90, etc.)? Outstanding Debt A tenant who carries a heavy debt load is more likely to experience financial difficulty than one who rarely relies on credit products to get by. Assess what size of debt their responsible for paying, their monthly payment, and the length of time they’ve been actively making payments. Rent-to-income ratio Calculating a tenant’s rent-to-income ratio can help you determine whether they can afford their rent based on their take-home pay. The higher the ratio, the more likely they will miss a payment and have less money available to cover other expenses. Be wary of tenants whose monthly ratio exceeds 45%, as their risk of default is considerably high. Bankruptcies and accounts in collections An active account that creditors have sent to a collection agency is a major red flag in a credit report. It indicates the tenant struggles in keeping up with their debt or bill payments.  Still, ensure you keep things in context. How long ago did the collection agency assume control of the account? Is the amount on the account significant? Has the tenant made a concerted effort to pay down the balance? Bankruptcy is the most severe negative item you can find on a tenant’s credit report. Like an account sent to collections, it can cause a credit score to plummet.  As with a past-due account sent to collections, it’s essential to understand the details. How long did the bankruptcy occur? Was the amount significant? And what type of debt was it?  Negative records like bankruptcies and accounts in default can seriously impair a tenant’s credit score for a long time. For example, bankruptcy remains on a person’s credit for seven years or more. However, the tenant may have since recovered from the ordeal and regained their financial footing. Sometimes, it can take a while for a person’s credit history to account for this improvement. Thus, their current credit score may not accurately reflect their present circumstances. Closed accounts Closing one or more credit accounts can negatively impact a person’s credit score for the short term. The reason is that a closed account reduces the average age of their total active accounts. The average age of credit products is one of the factors credit bureaus use to determine people’s credit scores. If the average age decreases, so can the credit score. Hard inquiries A hard inquiry can result in a temporary dip in a tenant’s credit score, especially if many occur during a short time. Numerous hard inquiries on a credit report may or may not be a cause for concern. The tenant may have sent applications to multiple lenders to obtain the best deal for a personal loan, which is fine. Or they may have been frantically seeking new credit cards to pay their phone bill – not a good sign. 2. Speak with the tenant about their credit history A great way to gain insight into a tenant’s credit history is to speak to them directly. If they’re willing to chat, they may provide you with valuable details about the reasons for their poor credit profile. In some cases, you’ll discover that the tenant’s poor credit score is due to an unfortunate scenario that occurred years ago. Their predicament may have arisen suddenly from a major life event they had little or no control over. Events that can have a severely negative impact on an individual’s credit are: Unexpected job loss Medical emergency Divorce Credit card fraud  Just one such scenario can be enough to tarnish a tenant’s credit score, which may have taken them years to build up.  Suppose considerable time has passed since a tenant’s credit deteriorated. In that case, they may have already resolved their past financial issues and are firmly on the road to recovery. However, their credit score can take a while to catch up with any progress they’ve made. So an incident that occurred many years ago may still affect their credit score today. Look for evidence of responsible financial habits, such as on-time payments, before and after their setback(s). If their money management worsened while they were unemployed but subsequently improved when they secured a job, that’s a good sign. 3. Assess the tenant’s rental history Another way to evaluate a tenant with a poor credit score is to obtain details about their rental history. A great place to begin is by interviewing a tenant’s past landlord(s). By doing so, you can access helpful information about their payment habits, character, and how they treated the property during their stay. Here are some questions you can ask them:         How consistent was the tenant with on-time payments?         If the tenant made late payments, did they work diligently to catch up, or did you have to remind them constantly?         Did the tenant maintain or neglect their cleaning duties?         Did the tenant notify you if the property needed repairs?         Did the tenant cause any severe damage to the property? If so, was it accidental or willful?         Was the tenant the recipient of complaints from neighbours? Be sure also to ask the tenant to provide you with proof of past rent payments (bank statements, e-Transfers, etc.). You can ask for as many months as you feel necessary, but one year’s worth is usually enough. If they’ve been making rent payments without a hitch, that’s good news, despite their lacklustre credit score. 4. Confirm proof of income and employment Ask the tenant to supply documents that verify their employment status, such as a pay stub. Suppose they have a high-paying, stable job and earn a consistent income. In that case, you can reasonably assume they can manage rent payments for the foreseeable future. Remember that some jobs may be seasonal, so their income may fluctuate throughout the year. But what if they’re unemployed or earn a meager income? In that case, you can request recent bank statements. Even if they’re not earning much income now, they may have substantial cash reserves. A tenant with a healthy savings account is well-equipped to continue making rent payments through a period of unemployment or low income. 5. Ask the tenant for a co-signor or guarantor Let’s say you’ve done all the above steps to evaluate a prospective tenant, but they don’t quite tick all the boxes – and their poor credit score still concerns you.   A great way to offset your risk is to ask the tenant to have someone co-sign the lease agreement or act as a guarantor. In both cases, this second individual will assume legal responsibility for making rent payments should the tenant fail to do so.  While both a co-signor and guarantor share joint responsibility for rent payments with the tenant, there’s a minor difference between the roles. A co-signor is responsible for rent payments alongside the tenant. Conversely, a guarantor only steps in to cover the rent if the tenant defaults.  In most cases, the co-signor will be the tenant’s family member or a close friend. Ensure the co-signor or guarantor chosen by the tenant has a stable income and solid credit history. After all, they’ll be acting as the backup for the lease, so you need assurances their financial house is in order. Our Final Thoughts A bad credit score shouldn’t cause you to disqualify a tenant automatically. Before skipping to the next applicant, you should assess other factors, such as their payment history, debt load, income, cash savings, past landlord references, etc.  By evaluating a tenant solely through the lens of their credit score, you risk turning away a potentially great candidate for your rental. So always do sufficient research to build a holistic profile on them – never base your decision on one factor alone. As mentioned previously, an excellent place to begin your quest to gather valuable details about a tenant is a credit report. But how do you go about acquiring one? Singlekey Tenant Report offers a treasure trove of financial data (courtesy of Equifax) to help you rigorously screen a tenant. You can use the report to review a wide array of details, including:   their Monthly debt payments their rent-to-income ratio: the types of credit products they use how often do they make late payments accounts sent to collections  In addition, the Tenant Report also provides helpful background information on your applicant: it scans over 200,000 databases worldwide to gather details from past employers, court decisions, criminal records, negative press, public social media profiles, etc.   Interested in seeing what the Tenant Report looks like? Here’s a free sample report.  If you want to learn more or purchase this user-friendly, comprehensive report to screen your next applicant, visit Singlekey’s Tenant Report page. If you already have your tenant’s basic details handy, you can have your report ready in as little as five minutes! Learn more about our tenant report --- ### Eight Tips to Know Before Renovating Your Rental Property [Eight Tips to Know Before Renovating Your Rental Property](https://www.singlekey.com/en/ownerkey/renovation/eight-tips-to-know-before-renovating-your-rental-property/) Date: September 27, 2022 Author: Mark Gregorski Content: Periodically renovating your rental unit is necessary to ensure it remains competitive in the rental market. With the right upgrades and enhancements, you’ll be able to attract quality tenants, reduce your operating costs, and earn a tidy profit on your rental for many years. However, careful research, planning, and budgeting are essential to see a hefty return on your investment. A renovation project can be costly, complex, and time-consuming, especially if you’ll be personally doing the work rather than hiring professionals. If you make too many mistakes along the way, you can do more harm than good, resulting in a lower bottom line for your rental business. In this article, we’ll outline eight rental renovation tips to satisfy tenants and boost your rental income, but without breaking the bank. Let’s get started! Tip #1: Repair everything you can In many cases, fixing something is far cheaper and more efficient than replacing it. Never start from scratch if there’s no need to do so. Investing some time in DIY repairs or hiring a professional to do them for you can instantly revitalize your rental while saving you a nice sum of money.  With the help of a few basic tools and spare parts, you can revive a broken fridge and other appliances rather than spending thousands of dollars to purchase new ones. Is there a gaping hole in one of the walls? If so, you can use putty and spackle to make it disappear, along with a fresh coat of paint. You may need to install some extra drywall if the hole is large, but it’s still a pretty easy job overall. Clogged drains are another issue you can quickly rectify using household items like wire hangers, plungers, baking soda, and vinegar. Here’s a video that shows you different ways to deal with a clogged drain: Tip #2: Remodel the kitchen Can’t decide which room deserves your attention first? If so, you almost can’t go wrong with starting with the kitchen.  Many renters place a lot of emphasis on the kitchen’s space, functionality, and look. It’s likely the most critical place they’ll evaluate when they arrive to view your rental. Not surprisingly, a kitchen filled with ancient appliances, chipped countertops, and loose cabinet doors won’t entice them to sign your lease agreement.  Since tenants place such a high value on the kitchen, even minor renovations will enable you to charge a higher monthly rent and boost your rentals’ value. According to a survey conducted by Royal Lepage in 2018, upgrading the kitchen is the surest way to increase the resale value of your property.  Here are some essential areas to address to improve the design and functionality of your kitchen:  Add new handles, paint, and trim to the cabinets Replace the countertop Add a new sink and faucet Upgrade outdated appliances Install new light fixtures  Remember, there’s no need to spend a fortune on your rental kitchen to impress tenants. Most value practicality over style and fancy cosmetics, so don’t worry if you’re working with a small budget. In fact, a minor kitchen renovation can yield a better return on investment than a large-scale one. According to data from Remodelling Magazine, the recoupable cost of a midrange remodelling is 71% compared to a major remodelling, which comes in at 56%. The data is from the U.S., but the returns are likely similar in Canada. Tip #3: Revitalize the bathroom Next to the kitchen, the bathroom is probably the most crucial place tenants will evaluate when they tour your property. A grimy and dated bathroom is one of the surest ways to repel tenants. If yours needs a significant overhaul, ensure it ranks high in your list of priorities.   As with the kitchen, determine the most practical and cost-effective way to refurbish different sections of your bathroom. Here’s a list of areas to focus on to get the most bang for your buck:  Replace the flooring Install a new sink (or only the faucet if needed) Add new lighting fixtures Add more storage space  Replace the shower head  A high-quality bathroom appeals to tenants as many see it as a place of relaxation and retreat. Think of a soothing bath after a stressful day at work. Doing a little work to emulate the atmosphere of a spa can go a long way in helping you generate extra rental income. Tip #4: Make your rental attractive from the outside First impressions are everything regarding how tenants view your property when they arrive for a showing. And the first thing they’ll set their eyes on is how it looks as they approach it. Therefore, make it look as attractive and inviting as possible. The amount of work you’ll have to do will depend on the type of property you rent out. Naturally, a house with a front yard, garden, and fencing will require more time and effort to spruce up than an apartment. Here are some ideas to help you get started:  Plant new grass  Pull out the weeds Replace worn-out fencing Paint the exterior of the property Replace any severely damaged paving stones Power wash the walls to eliminate dirt and stains Ensure you don’t overdo it with the landscaping. Your goal is only to make your property look clean and presentable. Your tenants will want to incorporate their own ideas, such as planting a garden or adding decorative statues. Tip #5: Upgrade the floors No tenant likes to see dirty, scratched, cracked, and outdated flooring. So be sure to address your rental’s floors if you’ve neglected to do so for an extended period. Installing new, high-quality flooring can have a massive positive impact on how tenants perceive your property. Do you have carpet in one or more of your rooms? If so, you can’t go wrong getting rid of it and replacing it with a much more durable and long-lasting material that’s also easy to maintain. Hardwood, laminate, or luxury vinyl tile are great options to explore. Tip #6: Add the right amenities You can select from an endless array of amenities for your rental. However, it’s best to narrow your choices to those that will satisfy the majority of tenants. Focus on making the living space enjoyable and convenient rather than extravagant. Here are some amenities to consider: Wash and dryer unit. Adding a washer and dryer unit to your rental can save tenants time and money from travelling to a laundromat.  Dishwasher. Like a washer and dryer unit, installing a dishwasher saves tenants the trouble of manually cleaning dishes and cookware. Air conditioning.  Installing an A/C unit can score you big points with tenants who find summer heat waves unbearable. Extra storage space – provide ample storage space for your tenants to store their belongings. That way, they won’t need to leave them strewn across the property, resulting in needless clutter. Fencing – a new fence surrounding your rental unit is a solid investment, as it provides tenants with privacy and security. It also makes your property pet-friendly, preventing a tenant’s dog from wandering into adjacent properties. Tip #7: Choose your materials wisely Knowing which materials to use is just as critical as knowing which areas of your rental unit to renovate.  When making your choices, you should keep three things in mind: Cost. Always strive to spend the least amount of money possible. By overspending, you won’t realize a healthy return on your investment. But being too frugal is not advisable either, as cheap materials will wear out quickly, leading to frequent replacements.  Durability and maintenance. Ideally, the materials you select should last many years without needing to be replaced and require little upkeep.  Tenants’ preferences. Put yourself into the mind of your perfect tenant. Would they be happy with the materials you chose for the floor, countertops, cabinets, and other areas of your rental?  When possible, strive to use materials that satisfy all three criteria. In doing so, you’ll be able to save money, spend less time on repairs and maintenance, and attract more tenants.  But, sometimes you’ll need to make trade-offs, primarily if you’re operating on a tight budget. For example, you may decide that installing hardwood throughout your rental unit is the way to go. And you wouldn’t be wrong: hardwood is easy to maintain, cost-effective and popular among renters.  However, more affordable options are available, like laminate or vinyl tiles – and both are stable and visually pleasing. Choosing one of these materials over hardwood may be more prudent to keep your costs low. The same concept applies to kitchen countertops. Marble is a tempting choice because it has a luxurious appearance and is heat resistant. But this material is costly and requires more maintenance. For renters, a laminate countertop will usually suffice. Tip #8: Keep things simple and timeless When it comes to cosmetic upgrades and touch-ups, don’t overcomplicate things. It’s impossible to know in advance the preferences of your upcoming tenant. So, your safest bet is to make your unit appealing to as wide a range of people as possible. Tenants will want to decorate the unit based on their unique style when they move in. Therefore, avoid fancy and extravagant colours, styles, and patterns. Be conservative in your choices and provide your tenants with a blank canvas to work with. Choose a single colour for each room’s walls to keep things simple and consistent. Stick to off-white colours like cream, beige, ivory, vanilla, or pale shades of grey – they blend in well with other colours and complement a wide range of design themes. The same concept applies to light fixtures, backsplash, flooring, curtains, and appliances – choose colours and textures that are neutral and subtle. One final tip: Focus more on timeless designs – don’t blindly chase trends. That way, you won’t need to replace outdated fixtures, furniture, décor, etc. constantly.  Here’s a video with some helpful tips about achieving a timeless look in your property: Our Final Thoughts Your goal with any rental renovation should be to increase the value of your property. By upgrading and modernizing your rental, you can charge a higher rent price and increase its appeal among tenants.  When planning a renovation, always approach the project with a business mindset and focus on financial figures. This concept applies to both short-term and long-term rentals. Ask yourself: will the money I spend on renovations enable me to generate a higher monthly rental income? And if so, how long will it take to recoup my investment.  Also, keep in mind tenants’ needs, preferences, and expectations. While you may be brimming with elaborate and extravagant design ideas, always put the needs of your tenants ahead of your own. After all, they’ll be the ones living on the property, not you. So ensure you view each aspect of your renovation project from their perspective.  Once your renovation is complete, the next step is to list your rental property online and find a quality tenant. If you’ve spent your time and money wisely, you should have no problem garnering attention from plenty of renters.  However, even with the proper screening and due diligence, things can head south. Your tenant may lose their job or need to cover a mountain of medical bills, leaving them strapped for cash. As a result, they may default on their rent payments, and your income stream will dry up. Not an ideal scenario, especially after you spent a ton of time and money revamping your rental! SingleKey offers landlords the Rent Guarantee program for unforeseen situations such as this. By enrolling in the program, you’ll receive rental income payments for up to 12 months should your tenant suddenly stop paying on the first of the month. You’ll also receive reimbursement for up to $10,000 in property damage if you have the misfortune of dealing with a destructive tenant. Learn more about our rent guarantee --- ### SingleKey Survey: Landlords’ Thoughts About Renting to Students [SingleKey Survey: Landlords’ Thoughts About Renting to Students](https://www.singlekey.com/en/ownerkey/finding-tenants/singlekey-survey-landlords-thoughts-about-renting-to-students/) Date: August 26, 2022 Author: Mark Gregorski Content: Early in August 2022, SingleKey surveyed over 500  Canadian landlords to find out their thoughts about taking on student tenants. With a new school year about to begin, we thought it would be fitting to learn about the ins and outs of the student rental market from the perspective of landlords. Attitudes about student tenants in the rental business are polarizing. Some landlords regard them as a lucrative demographic, while others prefer to avoid them altogether. However, according to our survey results, most landlords are enthusiastic about renting their property to students. As long as students meet their requirements, they’re more than willing to offer them tenancy in their rental unit. In this article, we’ll dig into the survey results to discover why the student rental market appeals to landlords, the most common questions landlords ask students during the screening process, the pitfalls of renting to students, and more. Let’s begin! Renting to Students – Good Idea or Bad Idea? Nearly 69% of landlords said they would rent their property to students. This figure indicates that most landlords aren’t concerned with some of the widely cited drawbacks of young tenants: lack of a stable income, little or no job history, few references, scant credit history, etc. It’s true that the average student earns little income and has little experience managing money compared to older adults with full-time jobs. But to say they’re strapped for cash would be an exaggeration. In reality, there are plenty of resources students can tap into to finance their living expenses while they pursue their studies. The Impact of COVID-19 on Student Rental Demand Over 47% of respondents indicated that COVID-19 didn’t affect the demand for student rental properties. About 29% said it lowered demand, and 23% said it increased it. We also asked how COVID-19 has specifically affected the student rental market in 2022 compared to 2021. Thirty-six landlords stated demand remained unchanged, 46% said it was higher, and 16% said it was lower. Landlords’ answers to these two questions suggest that this year’s demand has grown for student rentals due to COVID-19 or has at least remained stable. During the height of the pandemic, colleges and universities shuttered their doors, shifting to online learning. While some kept their doors open, others decided to close them to curb the spread of the virus. As a result, many students had no choice but to search for off-campus accommodation. This event may have kickstarted a 2022 trend in students favouring apartments rather than dorms in some regions. Students’ Attitude Toward Living with Roommates Due to COVID-19 About 27% of landlords reported that students expressed reluctance about living with roommates for fear of contracting the virus; they preferred to live independently. Nearly 39% said that students were not worried about sharing a rental unit with roommates, and about 35% said they didn’t know one way or the other. These answers suggest that COVID-19 today doesn’t deter most students from sharing a rental with roommates. How Many Students Should Live in a Single Rental Unit? Thirty-six percent of landlords said they’re restricting the number of students that can live in their rental since COVID-19. While not the majority, this figure indicates that many landlords have concerns about too many people living together in their rental unit. We also asked the landlords who answered “yes” the maximum number of students they would allow to live in their rental. Here’s the breakdown: Based on the results, most (nearly 75%) landlords would agree to at least two people sharing their rental unit. Overcrowding is an issue when it comes to limiting the spread of COVID-19. But landlords also impose limits on the number of occupants for other reasons. Primarily, they want to ensure the living space can adequately accommodate each tenant’s needs. One-year lease or eight-month lease – which do landlords prefer? Just over 60% of landlords expressed that they ask student tenants to commit to a one-year lease. Only 8% said they offer an eight-month lease, but 32% were open to the idea if a student requested one. Since a typical school year spans eight months, many students request a lease agreement that matches this time frame. Naturally, this preference conflicts with landlords, who want stable rent payments for as long as possible. So, it’s no surprise that most ask students to commit to a one-year lease. Still, about a third of landlords are flexible and willing to accommodate students with shorter leases. The Importance of a Co-signor or Guarantor Over 35% of landlords said they ask students to provide a co-signor or guarantor as financial security for rent payments. Those who said they never ask for either were in the minority, at 22%, while those who sometimes require one compromised the largest group, at nearly 43%. Students are more likely to have poor credit and fail to meet income requirements than other applicants. As a result, most landlords require or consider asking for a co-signor or guarantor to sign the lease agreement alongside the student. Key Questions Landlords Ask Students We asked landlords to list the most common questions they ask students during the tenant screening process. Here are the top five: What are your income sources and monthly income? It should be no surprise that landlords want confirmation that students have sufficient income to cover their rent payments. What program are you enrolled in, and what year? First-year college students are less experienced with finances and living independently than those in their fourth year of studies. Can you provide references? Credible references from an employer or past landlord provide valuable insight into a student’s character and personality.  Do you consent to a credit and background check? A credit score and credit history can help a landlord assess the likelihood of a student defaulting on rent payments. A background check details any past misconduct and other questionable or dangerous behaviour. Both reports can help uncover red flags in tenants.  Do you own a pet, smoke, host parties often, etc.? Most landlords are interested in learning about a student’s lifestyle and habits. They can use the information to determine if they’ll be a good fit for their rental unit and abide by the rules in the lease agreement. Top Pros and Cons of Renting to Students Here are the top three pros and cons of student tenants that landlords mentioned in our survey. Pros Opportunity to charge a higher rent price. Demand for student rental units remains consistent and predictable each year, especially for properties near college campuses. As a result, landlords can justify higher rent prices.     Timely rent payments. Most students have access to plenty of financial resources. These include student loans, student lines of credit, scholarships, and grants. For this reason, they usually have no issues meeting rent payment deadlines.     Ability to increase the rent price frequently. By law, landlords cannot raise a sitting tenant’s rent upon lease renewal by more than the maximum amount set by the province where they live. However, once the current tenant vacates the unit, the landlord is free to charge whatever monthly price they wish for the new tenant. Since students typically rent out a property for a brief period, landlords have more opportunities to hike their rent price. Cons     Property damage. Landlords often complain about students neglecting their apartment cleaning duties or damaging the property.     The student may want an eight-month lease. Many students request an eight-month lease to coincide with their school year. Consequently, landlords lose out on four months’ rent payments, given that a standard lease agreement lasts one year. Excessive noise and partying. Constant noise and partying, especially during the evening, can disrupt neighbours, leading to arguments and complaints filed with the police. Final Thoughts Our survey results indicate that most landlords view student tenants positively. Despite the drawbacks, they perceive this young demographic as a great return on investment for their rental properties. Some landlords are taking precautions due to COVID-19, such as limiting the number of people living on their property. But overall, the student rental market appears to be robust – demand is either growing or stable. Another key takeaway from this survey is the importance of vetting applicants. For the most part, landlords pose to students the same questions they would to any other class of tenant. These questions focus primarily on the individual’s finances and background (such as the presence of criminal convictions). Suppose you’re a landlord open to renting your property to students. In that case, having access to such information is crucial for decision-making. You’ll be better able to differentiate between a quality tenant and one who’ll cause nothing but trouble and endless headaches for you. Singlekey’s Tenant Report provides all the details you could ever need to screen a candidate. It’s a cinch to read and free of confusing jargon, so you can quickly determine which applicants to consider and which to ignore. Order a report today to begin screening your latest applicant – it’ll be ready for you in as little as five minutes! Learn more about tenant screening --- ### Renting to International Students: A Complete Guide for Landlords [Renting to International Students: A Complete Guide for Landlords](https://www.singlekey.com/en/ownerkey/finding-tenants/renting-to-international-students-a-complete-guide-for-landlords/) Date: August 22, 2022 Author: Mark Gregorski Content: Many students from across the globe find North America an attractive place to pursue their college or university education.   According to data released by Immigration, Refugees, and Citizenship (IRCC), Canada's international student population stood at over 1 million at the end of December 2023. Similarly, the United States welcomed over 1 million students from abroad in 2023. India and China comprise the bulk of international students in both countries, followed by countries like Vietnam, South Korea, and Nigeria. If you plan to rent to this growing demographic, here’s your in-depth look at what international students value when searching for a suitable rental unit and how to screen potential tenants effectively.  What do international students look for in a rental property? International students value reasonably-priced accommodations with basic amenities, much like their domestic counterparts. Preferences and needs will vary, of course. But most students will be preoccupied with their studies. Their goal is to obtain a degree, not live in a lavish penthouse downtown. Here are some criteria likely to appear on their rental checklist. Convenient location Students want a place close to grocery stores, shopping centers, banks, transportation hubs, restaurants, and other amenities. Adjusting to a new home will be easier for them if they have everything nearby to meet their basic needs. A rental property within walking distance of the university campus is also helpful, as it reduces their commute time. Basic furnishings and amenities Does your rental unit offer simple furnishings, like tables, chairs, beds, and couches?  If so, you'll score extra points with international students. By including these in your rental unit, you'll save them the trouble of having to acquire them on their own.  Your unit should also offer basic appliances, like a stove, microwave, fridge, and a washer and dryer set. Ensure all items are in working order before advertising your property. Safety and security For many international students, it's likely their first time being abroad on their own. Naturally, safety and security are important to them and their families back home. Some security features you may want to implement are deadbolt locks and smart doorbells. Security cameras and adequate lighting near the building entrance and parking lots are also helpful. Consider installing an alarm system, too. There's no need to overspend on security, but you should take the necessary precautions to ensure your tenants’ safety.  Flexible lease terms International student tenants may need flexibility in their lease terms depending on how long they plan to stay in the country. For example, some may wish to sign only a nine-month lease, as they plan to return to their home country once the school year ends. How to screen international students to fill a vacancy Many students lack formal work experience and credit history in the country where they'll be studying. You may have to gather information from diverse sources, some of which may come from overseas. Always verify that the student has the necessary documentation to enter the country, attend school, and work.  Canadian requirements for international students International students who wish to attend a college or university must obtain a study permit from the Government of Canada. The organization that issues them is the IRCC. However, some students may be eligible to get one faster through the Student Direct Stream. Students pursuing their studies in Quebec must acquire a Quebec Acceptance Certificate (CAQ). They can only apply to a post-secondary institution approved by the Quebec government.  To apply for a study permit, international students must have the following documents: An official letter of acceptance at the post-secondary institute they will attend (which must be from a designated learning institution) A valid passport or travel document   In addition, they must present proof of income (such as a bank account in their name) to support their tuition, living expenses, and return transportation. Once the student receives permission to enter and study in Canada, the IRCC will provide them with a letter of introduction. They must present this document to border agents when they arrive in the country. Students anticipating a stay of fewer than six months in Canada need to apply for either a travel visa or Electronic Travel Authorization (ETA). Those who wish to work more than 20 hours per week also require a work permit. American requirements for international students International students pursuing a post-secondary education in the U.S. must obtain a student visa. The most common visa is the F-1, which allows a student from overseas to attend an academic institution and work part-time on campus for a maximum of 20 hours per week (work options expand after the first school year). M-1 visas are also available for students who want to pursue vocational studies. To qualify for an F-1 or M-1 visa, overseas students must meet the following requirements: Attend a school that's approved by the Student and Exchange Visitors Program (SEVP) Be enrolled full-time in an educational or vocational program while the school term is in session Be adept in English as per the standards set by their school Have sufficient funds to cover the cost of their education and living expenses Maintain a residence in their home country, which they can return to after finishing their studies An international student must apply at a SEVP-approved institution to secure an F-1 or M-1 student visa. Upon enrollment, the institution will register them in the Student and Exchange Visitor Information System (SEVIS), which requires payment of the SEVIS-I901 fee. The student will then receive Form I-20, which they must present at a U.S. Embassy or Consulate when applying for a visa. An international student in the U.S. must also have a passport that is valid for at least six months after the program's completion date. In addition, they can only enter the country up to 30 days before their program start date. Credit history and income A student visiting Canada or the United States to attend college likely has little to no experience with its financial system. They may have never obtained a loan from a bank, filed a tax return, or held a job with an employer in either country. Although they may have a solid credit score in their home country, it doesn't affect their credit standing in North America. When they arrive, they're essentially starting from scratch. As a result, you may have to do a little digging when screening international student tenants. Here are some areas to determine whether they can afford to pay your rent: Bank statement. One of the first things people do when they first set foot in a new country is open a bank account. Scanning several months' worth of bank statements will give you a glimpse into a person's spending habits and the amount of income they have or receive regularly. Monthly bills. Examining a student's utility or phone bill statement will allow you to see their consistency with on-time payments. Pay stubs. Suppose a student from abroad has a work permit and recently secured a job. In that case, you can ask for proof of employment income. Past landlord reference. If the student has rented an apartment before, it's worth connecting with their previous landlords. You may gain valuable insight into their character, ability to pay rent on time, and even red flags you missed or never considered initially. Ask plenty of (legal) questions As a landlord, you have the right to inquire about a student's finances, background, and circumstances. Here are some questions you can ask them: When are you planning to move in? How many people will be living with you on the property? Do you require any special amenities? How much income do you earn per month? Do I have your permission to run a credit check on you? Can you provide past employer and landlord references?  While the above questions are perfectly legal to ask a rental applicant, there are others the law prohibits you from asking. These rules are in place to ensure individuals who apply for tenancy aren't subject to discrimination. In Canada, the Canadian Human Rights Act bans landlords from inquiring about topics related to the tenant's race, religion, sexual orientation, gender identity, marital status, and other protected characteristics. Similar laws exist in the United States in the Fair Housing Act. It's also illegal to deny tenancy to a student in Canada simply because they're new to the country. For example, the fact that they have a non-existent credit score is not a legitimate reason to dismiss them as tenants. Learn more about tenant screening laws in Canada to avoid legal missteps when renting to international students. Tenant screening laws in the United States differ, so be sure to familiarize yourself with local legislation. Our final thoughts Renting out your property to an international student can be a reliable way to generate rental income, but it also comes with risks. These include the potential for property damage, disruptive behavior, and abrupt lease cancellations.  However, these issues can arise if you rent out your property to a domestic student, too (or any tenant, for that matter). To reduce these risks, ensure you employ a thorough tenant screening process that deals with the extra challenges of vetting an international student, such as a lack of credit history. Learn more about how to screen international students and access foreign credit histories with SingleKey's International Credit Check. --- ### How Much Rent Can a College Student Afford? [How Much Rent Can a College Student Afford?](https://www.singlekey.com/en/ownerkey/finding-tenants/how-much-rent-can-a-college-student-afford/) Date: August 16, 2022 Author: SingleKey Content: Are you looking to rent out your property to college students? If so, getting to know how they budget for their rent expense – and how much they can reasonably afford – is a wise move. By doing so, you can set a price that attracts quality tenants. Moving out of their parent’s homes to attend college is a significant milestone for many young people and a pivotal transition to adulthood. It’s also an exciting and adventurous time for them to experience all that post-secondary life has to offer. However, not all students are keen on staying in a dorm, so they’ll be exploring their options for renting off-campus as their first semester approaches. In this article, we’ll explore the various factors students consider when determining their rent budget. And we’ll review some tips to help them save money so they can meet their rent payment obligations without a hitch.  How much should a college student spend on rent? It’s no surprise that the amount of income a student generates each month impacts the type of rental unit they can afford. Quite simply, the more they earn, the more money they can put toward rent payments. Most full-time students finance their education and living costs through government loans or student lines of credit. Some supplement their loans with grants and scholarships or a part-time job. And others receive a regular allowance from their parents.  As a landlord, you should inquire about a student’s income sources, as some are more reliable and stable than others. In doing so, you can assess their ability to keep up with rent payments. But how much of their income should a student allocate toward rent? What amount will ensure they can live comfortably and not strain their bank account? While there’s no clear answer to this question, a great starting point is for them to calculate their rent-to-income ratio. This financial metric measures the amount of rent paid relative to net income. A widely cited rule of thumb for tenants is to spend no more than 30% of net income on rent. While this figure may be unattainable for some students, it’s worth aiming for. It’ll leave them with enough slack in their budget to cover other recurring expenses.  Examining a student’s rent-to-income ratio is worthwhile. After all, you don’t want to risk taking on a tenant who’s likely to miss rent payments.  Students who dedicate more than 50% of their net income toward rent have an increased risk of defaulting on their payments. This is especially true if they have few income sources. As such, you should be wary of taking them on as tenants, even if they appear genuinely honest and responsible. How students’ everyday expenses affect their rent In addition to income, a student’s day-to-day expenses will dictate how much they can spend on rent.  Besides rent, typical expenses students need to account for are: Food Utilities Cell phone Transportation Fuel (if using a vehicle) Tenant’s insurance Books and supplies Banking fees Entertainment  Naturally, lower everyday expenses will enable students to comfortably cover their rent, especially in locations where high rent prices are the norm. As a result, they’ll be on the lookout for rental properties that will allow them to stretch their budgets as much as possible. As a landlord, you can attract student tenants by bundling utilities like cable, gas, water, and internet with your monthly rental fee, offering a lower total price. In most cases, it’ll be cheaper for a student to pay for these expenses as part of a single rent fee than having to pay them separately on their own.  In addition to bundling utilities, you can offer special discounts and incentives, such as one month of free rent, a cash move-in bonus, gift cards, and free internet. Students who lead a frugal lifestyle and adhere to a strict budget will appreciate these extra savings. Short-term lease When drafting a budget, college students also consider the length of their lease. The standard post-secondary school year spans eight months. However, most landlords require tenants to commit to a minimum of a one-year lease, which presents a conflict of interest. As a result, if you’re looking to cater to student tenants, be prepared to accept shorter tenancies. A solution worth exploring is to allow the student to sublease the property during the summer to another tenant who requires short-term accommodation. How a student’s credit score impacts their rental options Naturally, students with low credit scores will face more challenges securing a rental unit, as fewer landlords will want to accept them as tenants. Thus, credit scores significantly determine their rent budget and where they can ultimately live. Before granting a student tenancy, it’s prudent to pull their credit report and review their credit standing and experience with debt and bill payments. Knowing these details will allow you to assess their likelihood of defaulting on their monthly rent. Some students may offer to supply their credit reports to you. However, you shouldn’t accept credit reports directly from tenants, as they may be inaccurate, outdated, or fraudulent.  Your best bet is to obtain a credit report personally. SingleKey offers an easy-to-read, comprehensive credit report that provides you with the insight you need to screen tenants. And it’s ready in just five minutes! One crucial aspect you must remember when assessing students’ credit reports is that some may have a non-existent credit score. A non-existent credit score is not the same as a zero credit score or one that’s excessively low. Instead, it signifies that the student lacks a credit history. This means that credit bureaus (Equifax and TransUnion) have insufficient financial data on the student to compile and calculate a credit score. For this reason, you shouldn’t automatically assume a particular student is incapable of paying timely rent because they don’t possess a credit score. You need to look at the broader picture regarding their financial history, such as whether they pay their cell phone bill on time. Did you know you can help boost a student’s credit score as a landlord? All you have to do is forward their rent payment details to Canada’s credit bureaus (on-time rent payments enhance an individual’s credit standing). Luckily, SingleKey’s Rent Collection platform makes this process super easy. It automatically reports all tenant rent payments directly to Equifax. As a result, students can improve their credit score and achieve greater financial freedom with each payment they make. The role of a co-signor Students who struggle to secure tenancy due to a low credit score or insufficient income can ask someone to co-sign their lease agreement. As a landlord, asking for a co-signor to guarantee the rent can provide you with an extra layer of financial security. The reason is that an individual who acts as a co-signor is legally responsible for the rent, like the student. Should the student default on their rent, the co-signor will step in and cover any missed payments. Usually, the co-signor will be a parent or other close family member. Whoever it is should have a stable income and solid credit history, so ensure you inquire about these details. Splitting costs with roommates The most efficient way for students to trim their rent budget is to move in with one or more additional people. It’s also an excellent way for them to split the cost of other shared expenses like utilities, streaming services, and transportation. Due to the financial benefits of living with roommates, there’s a good chance that multiple people (perhaps all students) will be living in your rental unit.  As a landlord, this is good news for you. Since each student will pay a fraction of the total rent cost, they’ll have a much easier time meeting their rent payments. As a result, you can charge a higher monthly rate. However, allowing multiple people to live under one roof also has drawbacks.  There’s a greater chance one of them will damage your property, cause excessive noise at night, or become belligerent toward their neighbours. Or tenants’ personalities and lifestyles may clash, leading to frequent disputes and confrontations.  As with a single tenant, ensure you conduct a thorough credit and background check for each person who will live in your rental. How students can increase their rent budget  Creative and financially savvy students can find ways to reduce their expenses and boost their income. As a result, they’ll be able to afford to live in a more upscale apartment that charges steeper rent.  Here are some tips for students looking to optimize their college budget: Use apps like Flipp to net discounts on everyday spending Apply for scholarships Start a side hustle Avoid credit cards, or at least don’t be careless using them. Only charge purchases only if you’re confident you can pay off the monthly balance and earn lucrative rewards points or cash back. Monitor cell phone usage – never exceed your data limit Purchase electronic versions of textbooks Utilize student discounts whenever possible Prioritize public transportation over driving  Cook more meals at home Purchase everyday items in bulk Open a high-yield savings account that charges zero fees Explore campus amenities and group activities. For example, the college campus may offer free gym membership and movie nights Maximize school-related tax deductions and tax credits A credit report provides valuable details about an applicant’s financial situation. These include their credit score, the amount and type of debt they carry, whether they pay late or on time, etc. Our final thoughts There’s no exact answer regarding how much rent a college student can afford. While a budget that allocates 30% of net income to rent is a great place to start, there are no guarantees students will adhere to this guideline. A wide range of factors can result in them spending much more than this amount, primarily a low income and hefty day-to-day expenses. Since most college students earn little income and have limited credit experience, renting your property out to them comes with additional risks. Their circumstances and financial inexperience may result in them falling behind on their rent, hurting your bottom line. Running a credit and background report is a solid first step in screening student tenants. But even the most diligent, responsible, and financially-savvy students can encounter money problems.  By signing up for SingleKey’s Rent Guarantee program, your rental income will be insured for up to 12 months and $60,000. As a result, you can rest easy knowing you won’t experience a sudden disruption in rent payments. --- ### Dorm vs. Apartment: Which is the Better Option for Students? [Dorm vs. Apartment: Which is the Better Option for Students?](https://www.singlekey.com/en/ownerkey/finding-tenants/dorm-vs-apartment-which-is-the-better-option-for-students/) Date: August 16, 2022 Author: Mark Gregorski Content: One of the most crucial decisions students make when they move out to attend college is whether to live in a dorm or an apartment. As a landlord, you’re obviously in the position to accommodate students seeking off-campus living options. Naturally, you’ll attract those who prefer an apartment and its unique advantages. However, the on-campus lifestyle also offers notable benefits for students. Some of these can be enticing enough that students won’t even consider renting an apartment as an alternative. For this reason, it’s wise to become familiar with the factors that students evaluate when making their decision. You may gain some ideas about how to make your rental unit more appealing to them. What factors do students consider when deciding between a dorm and an apartment? Here’s a list of the main factors that students assess when deciding whether to live in a dorm or an apartment:         Rent costs         Social life         Privacy         Personal freedom         Perks and amenities         Location         Roommates Let’s look at how dorms and apartments fare against one another in each of these categories. Rent Costs For students on a tight budget, dorms can be a pricey option. The reason is that the rent cost encompasses more than just accommodation. It also covers food, utilities, laundry, and other amenities.  Usually, these extra perks are non-negotiable, so students must pay for them even if they don’t find them valuable. However, some students do find them convenient and cost-effective. In addition, the college may charge an annual fee that costs students’ thousands of dollars extra on top of their rent. No wonder college campuses can offer “free” internet!  The rent price of an apartment can be pretty affordable, especially if a student is seeking basic, no-frills accommodation. Unlike a dorm, there are no other expenses to worry about, like mandatory meal plans, annual fees, and administrative fees. Students have the option to furnish an apartment sparingly to save money. They also can tailor their home services plans, like internet and cable. As a result, they end up paying only for the things they wish to use. There’s no disputing that apartment rent prices vary considerably based on the building type, location, amenities, and other characteristics. However, when compared to dorms, apartments are usually the cheaper option.  Knowing how much rent a college student can afford is helpful. If you’re competing primarily on price with college dorms, you should familiarize yourself with how they charge students to live on campus. To uncover dorm rent rates, you can visit college websites. For example, here is what McGill University’s Student Housing program charges for on-campus living. Let’s say you discover that dorms are a better deal financially in your area. In that case, you can find ways to make your apartment more attractive such as: Providing superior amenities Bundling utilities with the rent price at a discount Offering one month of free rent.        Social Life Campus living enables a vibrant and enriching social life for students. It allows them to meet many new people and participate in a wide range of activities and events. The social aspect of college is valuable for first-year students learning to adjust to living independently. Being around peers of their age group helps make the transition from home to college life smoother – and more fun. Students who opt for apartment living miss out on colleges’ unique social experiences. They’ll have fewer opportunities to make new friends and participate in social functions and activities. While they can dedicate time to mingling with their classmates outside the campus, stronger bonds tend to develop when people live together for an extended period. Keep in mind that a student’s need for social interaction will likely change over time. For example, a first-year student is more likely to live on campus. The reason is their priorities are developing friendships and establishing a network. In contrast, a sophomore may already have a sizable social circle. As a result, they may prefer to live in an apartment to focus more on their studies and hobbies. Thus, as a landlord, you may want to focus on catering your apartment to sophomore students. Privacy While living in a dorm, students usually only have access to a bed, desk, and dresser. They may have to share a bathroom, kitchen, living room, and laundry room. And not only with their roommates but an entire floor or wing. Not surprisingly, everyday chores and activities can get messy and hectic. Some students may not tolerate such an environment. An apartment is the preferred option for students who hate overcrowded living quarters. A single individual renting an apartment will have full access to a kitchen, living area, and bathroom and generous storage and closet space. Apartment living offers much more peace and privacy. This aspect is hugely beneficial for individuals who enjoy spending time alone. They can study and focus on their hobbies without constant distraction and disruption. Personal freedom Students who live in a dorm must obey more rules and regulations than if they were living off-campus. Of course, many restrictions are justly in place to protect students and other campus staff. But some can be irritating and intrusive. Conversely, students have much more freedom in an apartment setting. As long as they pay their rent and don’t conduct any illegal activity on the premises, they can generally do as they please. This includes decorating the unit as they wish, leaving and arriving when they want, hosting parties, etc. Of course, they must still observe rules laid out in the lease agreement and not become a nuisance to tenants in adjacent units. But the restrictions are less demanding overall than those found in a dorm. Perks and amenities Many dorms offer students various perks and amenities at no extra charge. These include internet, cable, electricity, heating, and parking. The dorm rent covers these expenses, which can work out to be cheaper for students than if they paid for them separately. Most campuses provide plenty of common areas too. These may contain large television sets, games, exercise equipment, and spacious lounges. Students also have direct access to college cafeterias and other helpful services.  Apartments vary widely in the amenities and perks they offer. A student living in an apartment may have access to an in-unit washer and dryer, modern stainless steel appliances with smart technology, air conditioning, underground parking, a balcony, and more.  In addition, some apartments have plenty of awesome common areas: a swimming pool, gym, party room, etc. As a landlord, the more perks and amenities your apartment provides (and the higher the quality), the better you’ll be able to compete with dorms. Location Dorms are conveniently located inside college campuses, allowing students easy access to classrooms, study halls, libraries, labs, gyms, and other areas of the school. This helps them dramatically to cut down on their travel time and transportation costs. Students who live in an apartment may have to contend with a lengthy commute to the college campus. Since they’ll be using a vehicle to get around, they’ll also need to spend extra money on fuel, car insurance, and maintenance. And finding a parking space may be a daily challenge. Students relying on public transportation may save money compared to those with a vehicle. Still, their commute will be more tedious – especially if they routinely miss their bus! As a landlord, you may have to offer a discounted price if your property is far from campus to attract a student tenant. Roommates In some cases, students have no input when choosing their roommates in a dorm. The college will assign each student to a dorm unit at their discretion. As a result, people with widely different lifestyles and personalities may end up living together. This scenario can potentially lead to conflict and arguments down the road. When renting an apartment, students can exercise greater control in choosing roommates. They can select a friend, acquaintance, or someone they know, trust, and genuinely enjoy being around. Final Thoughts So, which living space is a better choice for students overall? A dorm or apartment? The truth is that it’s a close call. Both options offer benefits and drawbacks. And these can vary considerably based on what college a student attends and in which city or town. Ultimately, students will choose based on various factors based on their needs, lifestyle, and financial resources. Suppose you’re hoping to rent out your apartment to students. In that case, it’s worth researching to understand what appeals to this young demographic. Be sure also to investigate what college campuses charge and the types of perks and amenities they make available to students. With this knowledge, you can better position your apartment to compete with college dorms. A combination of affordability, solid amenities, enticing perks, and perhaps some discounts can pique students’ interest. Still, always remember to take the necessary precautions when screening students. A quality tenant should be responsible, respectful, and, most importantly, capable of paying rent on time. SingleKey’s Tenant Report can help you discover the ideal tenant. When signing up, you’ll receive a comprehensive credit and background check on an applicant in as little as five minutes. This easy-to-read report provides you with everything you need to effectively screen tenants and spot red flags. Looking for more security to ensure a tenant doesn’t harm your bottom line? Check out SingleKey’s Rent Guarantee program, which guarantees your rental income for up to 12 months if your tenant fails to pay their rent. Plus, you’ll have access to a paralegal team to help you evict a troublesome tenant and reimbursement for up to $1,500 in legal fees. --- ### SingleKey Survey: Challenges with Screening Tenants [SingleKey Survey: Challenges with Screening Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/singlekey-survey-challenges-with-screening-tenants/) Date: July 28, 2022 Author: SingleKey Content: During the first week of July 2022, SingleKey surveyed 200 landlords across Canada to gain insight into the current state of the residential rental industry. In particular, we were interested in learning about landlords’ experience with tenants and their business strategies amidst a dynamic rental market. The survey results revealed some surprising trends and sentiments. First, many landlords are content with leaving their units empty for an extended period to find the right tenant. Second, many are keen on converting their properties into short-term rentals (commonly known as vacation rentals). Third, landlords expressed that credit checks are essential to their tenant-screening process. However, many admit they face hurdles in obtaining sufficient background information to vet tenants properly. In this article, we dig into the survey results and their implications for both new and experienced landlords. Let’s dive in! Tenant Defaults About 27% of respondents said they’d had a tenant default on their rent at some point. While far from the majority, this figure is still high enough to warrant concern among landlords.  Lately, rental fees have been soaring across the country. According to our Rent Report, we found that the average rent for all properties in June was $2,047, driven by a greater rental rate at over 3% in most provinces. Rising interest rates have made home ownership less desirable, so more people remain in the rental market. Unfortunately, with limited supply of rental units in Canada, this drives up the cost of rent for tenants, whose budgets are already strained due to high inflation. Should these trends continue, landlords can reasonably anticipate more tenant defaults. As a result, vetting tenants’ finances will become increasingly vital to ensure they can comfortably pay their rent on time. Vacant Units Twenty-nine percent of landlords at some point opted to leave their rental unit vacant rather than lease it to a subpar tenant. Rental units have many fixed costs that must be paid regardless of the tenant’s situation. These include property taxes, mortgages, and utilities. Should a landlord sign a lease agreement with someone whose finances are in dire straits, they could end up losing multiple months’ worth of rent. Landlords also face the risk of tenants willfully damaging their property. If the security deposit isn’t big enough to cover repairs, they’ll have to pay for the cost out of pocket or sue the tenant. Of course, things can get even worse if a landlord needs to evict a tenant. Carrying out eviction from start to finish can cost a bundle. Typical expenses include court, legal, and sheriff fees if the tenant refuses to leave the property.  In Ontario, the cost of evicting a tenant can exceed $10,000 and take more than two months to complete. Try out our eviction calculator to estimate your expenses should you need to remove a tenant. It’s no wonder that almost a third of landlords would rather keep their unit empty than rent it to a potentially troublesome tenant!  Unfortunately, for tenants, this preference reduces the number of rental units available, which tends to drive rent prices higher. Short-term Rentals About 66% of landlords said they would prefer listing their unit on a vacation rental site like Airbnb or Vrbo rather than take on a long-term tenant. The figure indicates landlords are open to exploring new revenue models to ensure a healthy bottom line. Despite their growing popularity, vacation rentals require more hands-on work, and maintenance costs are typically higher. Plus, rental income will likely fluctuate throughout the year. However, for many landlords, it’s far less risky than signing a long-term lease with a tenant who may suddenly stop paying their rent. Satisfaction with Tenants Despite issues surrounding non-payment of rent, close to 80% of landlords report being happy with their current tenants. This figure suggests most landlords take time to screen applicants properly. As a result, they end up with steady rent payments and a solid relationship with their tenants. Tenant credit checks Lenders routinely do credit checks to qualify applicants for a loan. But they’re also handy for determining the likelihood of a tenant defaulting on the rent payments. Most landlords agree, with 82% saying they run credit checks on prospective tenants. A credit report provides valuable details about an applicant’s financial situation. These include their credit score, the amount and type of debt they carry, whether they pay late or on time, etc. Common mistakes made by landlords We asked landlords what mistakes they made when renting out their unit(s). Here are the most common ones reported: Based on the results, the most frequent mistakes center around insufficient research on prospective tenants. Between one quarter and one-third of respondents answered that they didn’t perform enough due diligence when approving an applicant for tenancy. Failing to run a credit check and background check was the most common, which brings us to our next point… Challenges with screening tenants Over 46% of landlords expressed that collecting the necessary background information about tenants is challenging. Not surprisingly, a lack of quality and reliable data can result in landlords overlooking or missing crucial details. As a result, they may sign a lease agreement with a tenant that, in reality, is unsuitable. Obtaining the correct information through a credit and background check can help identify tenant red flags early on. In Which Province or Territory Are Most Landlords’ Rental Units Located? Landlords participating in the survey indicated that most of their rental units are located in Ontario, followed by Alberta and British Columbia (BC). According to SingleKey’s Rental Report, Alberta has one of the lowest rental rates in the country at $1,389 per month. Conversely, Ontario and BC have the highest rates, at $2,166, and $2,518, respectively. Final Thoughts Our survey results suggest that many landlords still struggle to find quality tenants who pay timely rent. And with more people rushing into the rental market amid a shrinking inventory of properties, rent prices could increase substantially soon. As a result, tenant defaults could become even more common. Landlords have responded accordingly, with many opting to delist their properties and wait longer to find a suitable tenant. Others have begun exploring short-term rentals, which offer less risk and more flexibility in rent pricing. The overall takeaway from the survey is that landlords are seeking ways to minimize their risk by avoiding problematic tenants. And to do so, they require the proper knowledge, tools, and resources.  If you’re a landlord, you know that financial stability is vital to a successful rental business. Therefore, investing in tools that help you identify quality tenants and protect your income is essential. SingleKey offers a suite of services to help you get on the right track:  The Tenant Report will help you quickly discern the good tenants from the bad ones. And it’s ready in just five minutes! The Rent Guarantee program provides extra financial security for your rental business. Your rental income is guaranteed for up to 12 months up to $60,000 in case of a tenant default. The Rent Collection tool will allow you to collect rent online through pre-authorized debit, eliminating the risk of late payments. Say goodbye to cheques forever! Run tenant credit & background check for rentals --- ### SingleKey’s Rent Collection Tool vs Rent Guarantee Program – What’s the difference? [SingleKey’s Rent Collection Tool vs Rent Guarantee Program – What’s the difference?](https://www.singlekey.com/en/rent-guarantee/singlekeys-rent-collection-tool-vs-rent-guarantee-program-whats-the-difference/) Date: July 15, 2022 Author: Logan Zloty Content: SingleKey offers Canada’s first free rent collection tool for Canadian landlords. Through pre-authorized debit, tenant rent payments are automatically transferred directly from the tenant’s bank account to the landlord’s every month. No need to call, text, or email tenants to initiate payment – just set it and forget it. The Rent Guarantee program takes things to the next level by guaranteeing rent payments if a tenant defaults. SingleKey guarantees up to 12 months of rent while providing legal and financial support throughout an eviction. The program gives landlords complete peace of mind by eliminating the risk of lost rent due to a delinquent tenant. Here’s an overview of the features and benefits each service offers: Not sure which one is right for you? Let’s dive in and explore how each service can enhance your rental business. SingleKey Rent Collection Tool On the surface, collecting monthly rent from your tenants may seem like an easy task on your to-do list. But you’d be surprised at the range of issues landlords face in carrying out this deceptively simple task.  For example, rent cheques can get lost in the mail, or tenants can send their payments late. Even if you’re lucky not to have to deal with these problems, dealing with cheques and other paper documents can be a hassle. SingleKey’s Rent Collection tool solves these pesky issues – here’s how. Secure And Automated Payment Processing The Rent Collection tool allows you to set up tenants for pre-authorized debit transactions to pay their rent. As a result, rent payments are processed instantly on the first of the month, with no action required by you or the tenant to approve a transfer. And it’s free to use for up to 3 tenants! You’ll receive the money in your bank account within two business days, faster than some bank-to-bank transfers. The platform is also more efficient than other online rent collection methods, such as P2P money transfer apps. The Rent Collection platform is powered by cutting-edge encryption to ensure thieves don’t intercept transactions and steal your personal information. SingleKey also doesn’t store your login details on its servers – only your banking information to enable pre-authorized debits. And unlike direct deposit, there’s no requirement to provide your banking details to tenants, eliminating significant security and privacy risks. Getting set up for automated rent collection through SingleKey’s platform is quick and easy. Watch the video below that takes you through the process step by step: Payment Reporting To Credit Bureaus A notable aspect of the Rent Collection platform is that each payment made by a tenant is reported to Canada’s credit bureaus. Consistent on-time payments will boost a tenant’s credit score, while late or missed payments will lower it. As a result, the platform will help incentivize tenants to pay their rent on time. By reporting tenants’ payments to credit bureaus, you can also play an active role in improving or establishing their credit scores. This perk is particularly valuable for students and newcomers to Canada who lack credit experience. Automated Payment Reminders This nifty feature will help keep your tenants accountable, minimizing the occurrence of late and non-sufficient funds (NSF) payments. The Rent Collection platform automatically sends out notifications to tenants about upcoming rent two days before it’s due. Flexible Payment Options Sometimes, a tenant may find themselves temporarily short on cash and request extra time to pay their upcoming rent. Luckily, the Rent Collection platform offers you the flexibility to skip, delay, or cancel next month’s rent payment. You have complete control over the timing of your rent collection with just a few clicks of your mouse. SingleKey Rent Guarantee Program Streamlining your rent collection duties by taking them online using The Rent Collection Tool is mighty helpful and convenient. Unfortunately, you’re still vulnerable to lost rental income, which can severely dent your bottom line. Life happens: tenants can lose their job, incur a hefty medical bill, or drain their bank account to fix a broken-down vehicle. In all these scenarios, your tenant may be at a loss for cash, with absolutely no way to cover their rent. Of course, you may also have to contend with tenants who downright refuse to pay their rent. And some may willfully damage your property. Sometimes, eviction is the only viable solution, which means you’ll incur even more unforeseen expenses. With SingleKey’s Rent Guarantee, your rent payments will keep flowing should your tenants stop paying. Guaranteed Rent Income If your tenant’s finances are in dire straits, you may not see any rental income for multiple months, which can spell disaster for your bottom line. SingleKey’s Rent Guarantee program will compensate you for any lost rental income for up to 12 months, up to $60,000. As part of the package, you also get lease break protection for 60 days should your tenant depart unexpectedly. Thus, your rent will be covered for two months as you look for a replacement tenant. SingkleKey guarantees new and existing tenants, as long as the latter has a history of on-time payments. Read more about the documents you need to provide to get started with Rent Guarantee. Coverage For Eviction Costs Unless they genuinely love conflict, no landlord looks forward with glee to the idea of evicting a tenant. It’s a convoluted, tiresome, and tedious process that can take months. The cost of evicting a tenant can also be quite steep, especially if you live in a province like Ontario. The price tag includes legal, court, and sheriff fees if the tenant refuses to vacate the unit. Under the Rent Guarantee program, SingleKey will serve the eviction notice and hire a paralegal to carry out the eviction on your behalf. You’ll receive coverage for up to $1,500 in legal, court, and bailiff fees. Property Damage Protection A tenant who deliberately vandalizes your property is another major headache for landlords. You’ll have to pay for the repairs out of pocket if the damage exceeds the security deposit and the tenant refuses to pay you. The Rent Guarantee covers you for up to $10,000 in the event an unruly tenant causes damage to your rental unit. Rent Collection vs Rent Guarantee – Which Should You Choose? Signing up for SingleKey’s Rent Collection is a great way to set up your rental business for success. By automating rent payments using a fast and secure online platform, money will arrive in your bank account like clockwork. And you’ll have more time to focus on other, more critical tasks. It will prove incredibly valuable as you acquire more properties and scale your business. However, as your rental income becomes increasingly vital to your livelihood, taking steps to protect it becomes more of a priority. You may have heard of landlord horror stories like this one and shudder at the thought of the same happening to you. You can eliminate the risk of such scenarios by employing a service that reimburses you for lost rent, property damage, and eviction costs. With SingleKey’s Rent Guarantee, you receive financial compensation for all these expenses. As a result, you can rest easy if a tenant falls behind on their rent or endangers your property. Learn more about how the Rent Guarantee program works and how to enroll. Rent guarantee program --- ### Off-Campus Housing | Ultimate Guide for Student and Landlords [Off-Campus Housing | Ultimate Guide for Student and Landlords](https://www.singlekey.com/en/ownerkey/finding-tenants/off-campus-housing-ultimate-guide-for-student-and-landlords/) Date: July 14, 2022 Author: SingleKey Content: Of course, finding a place to rent in the first place is a challenge in and of itself. There are numerous factors to consider when hunting for a rental property, such as cost, location, amenities, etc. Searching for what you’re looking for can take considerable time and effort.Here at SingleKey, we understand the challenges of being a student tenant. So, we’ve created this handy guide on finding the perfect place to rent off-campus.Let’s begin!What To Do Before You Start Searching For A Rental Property Being prepared is half the battle in finding a great place to live. Before you embark on your house-hunting journey, outline the criteria for what you’re looking for in a rental. Here are some factors to consider before you begin your search.BudgetNot surprisingly, your budget will be the primary factor that determines the type of property you can afford to rent.To create a budget, first, add up all your income sources. These can include:        Part-time job        Scholarships        Grants        Student loans        Student lines of credits        Monthly allowance from parentsSecond, tally all up your expenses. Knowing how much you expect to spend each month on recurring costs is crucial, as it will determine how much you have left to cover rent payments.Here are some items to account for:         Food        Utilities        Phone        Internet        Transportation        Tenant’s insurance        Textbooks and school suppliesIf you’re unsure of what to estimate for costs, try visiting the website of the post-secondary institute you’ll be attending. They usually provide a rundown of how much to budget for basic expenses. A great example is this list provided by the University of Toronto.  Tracking expenses can be tedious, so you may wish to use a budgeting app like Mint to streamline the task.LocationLiving close to your college or university is beneficial. It’ll take you less time to travel to the campus; you may even be able to walk, thus saving money on transportation costs. However, you may need to pay a daily parking fee if you plan on driving to school.Unfortunately, rental units close to schools are typically pricier than those far from the campus. If you’re on a tight budget, you’ll need to prioritize the latter despite the convenience of living right next to your school.Also, consider how much you value living nearby restaurants, malls, parks, grocery stores, public transportation hubs, etc. The more amenities you have nearby, the easier it’ll be to run errands, go shopping, and enjoy a night out with friends.RoommatesDeciding whether you wish to have a roommate or two while attending school is worth pondering. Some students prefer a solitary lifestyle, while others value daily social interaction.However, the latter option will allow you to split the cost of rent and other expenses, leaving you with more disposable income. You can also share household chores, which will provide you with more free time for yourself.If you opt for a roommate, ensure you have an honest and open discussion with them about expectations and boundaries. Few things are worse than living with someone whose personality and lifestyle clash with yours. Be patient and take the time to find a compatible roommate. Accommodation TypeWhat type of living arrangement do you prefer? Are you looking for a sizable house or a tiny studio apartment? Or something in between?Are you keen on living in a house with other students? If so, consider how much space you need and what areas you’re willing to share with roommates. Generally, each student will occupy a room and share the kitchen, living room, and bathrooms.While you’ll have less privacy living in a house with other students, you’ll have access to more amenities. And, of course, you can save money by splitting the monthly rent and other household expenses.If you plan on living independently, an apartment will usually prove a more financially feasible option. The downside is that you’ll be responsible for 100% of the rent and chores. Not to mention, you may have to contend with noisy and disrespectful neighbours living in adjacent units.There are also notable differences between an apartment and a condo, so ensure you do your research before making your choice.Starting your Search – How to Locate a Great Rental PropertyNow that you’ve put together your wish list and know your budget, it’s time to scour the city for the best rental properties available.Here’s the first piece of advice: start early!While there’s usually an ample supply of rental units available for students (given the steady demand), the best ones get nabbed pretty quickly, especially near the beginning of the school year. Be sure to act right away if you find a desirable rental property.Step 1: Browse For Available Rental Units OnlineWhile various print publications still advertise rental units, conducting your search online is a far more efficient option. There is a wide range of websites available that list off-campus rental units. To help you get started, we’ve compiled a list of the best rental websites that landlords use to list their properties in Canada. Here, you can browse through vacant rentals and easily filter your options to those that meet your criteria.Remember that some rental websites are more prone to rental scams than others, so stay vigilant. Usually, these are the ones that primarily allow free ads. Sites that charge fees and verify ads before allowing users to post them are more likely to be genuine and trustworthy.Step 2: Contact The LandlordOnce you’ve found a rental unit that appeals to you, it’s time to contact the landlord to arrange for a viewing. Introduce yourself and explain that you’re interested in becoming a tenant.You can also inquire further about details of the rental unit. Here are some questions you may want to ask:        When is the unit available?        When is rent due each month?        What time period are you looking to rent out the unit for (short-term vs long-term)        Are utilities included in the rent? If so, which ones?        Is there an on-site laundry room?        Is there additional storage space outside the unit?        Where can tenants park their cars?The landlord will also have some questions for you, so be ready. Some landlords are apprehensive about renting to students, so ensure you’re prepared and do your best to make a great first impression. Here are some questions you can expect:How many people will be living in the unit?When do you plan on moving in?How long do you intend to stay?What is your source of income?How much do you earn per month?Can you provide a reference from a previous landlord?Will you consent to a credit check?Are you able to provide a security deposit after signing the lease agreement?Step 3: Attend A Viewing Of The PropertyVisiting the rental property in person is crucial before you express interest in signing the lease. You want to confirm that the unit offers everything promised in the ad, including how it looks in the photos.Take photos and notes of anything that needs repairs or maintenance, even if it’s a wall that needs a fresh coat of paint. Check all the appliances to ensure they’re in working order. Test the lights, showers, sinks, smoke alarms, toilets, and outlets. And don’t forget to verify that all security devices, such as deadbolt locks, function correctly.As mentioned earlier, property listings can be deceiving, so be sure not to skip viewing the unit up close and personal – you may regret it later.Signing the Lease – The Final Step to Becoming a Tenant Once you’re satisfied that the rental unit offers everything you’re looking for, the next step is applying for tenancy. Contact the landlord again and inform them of your decision to sign the lease agreement. Unless you’ve done so earlier, they’ll ask you to fill out an application form. Here’s some of the following information you’ll need to provide:Full legal name (and the names of any other occupants)Current physical addressSocial insurance number (SIN)Phone numberRental history (including references from previous landlords)Proof of incomeCurrent employerThe landlords will likely ask your permission to perform a credit check on you. Should you lack a credit history, they may require another individual with a solid credit profile to co-sign the lease agreement with you.When it comes time to sign off on the lease, take your time and examine each section to ensure you understand the terms and conditions. Double-check to ensure there are no hidden fees or unlawful obligations. If you are going to be living with roommates, ensure they understand the terms of the contract, too. You may also wish to create a list of house rules that all occupants must abide by to prevent future conflict. Not sure what a lease agreement looks like and what it includes? Visit our rental agreements templates page and download a free copy.Once you are happy with the lease terms and conditions, sign your name and send it back to the landlord. It’s official – you now have a place to call home away from home!Since you’ll be super busy as a student, it helps if your landlord makes it easy and convenient to pay your rent each month. Check out SingleKey’s Rent Collection service, which allows you to pay your rent through pre-authorized debit. That way, you don’t need to fumble around with cheques – and you’ll never make a late payment.Run your tenant report in advance with SingleKey --- ### How To Collect Rent From Tenants [How To Collect Rent From Tenants](https://www.singlekey.com/en/ownerkey/tenant-relationships/how-to-collect-rent-from-tenants/) Date: June 17, 2022 Author: SingleKey Content: Sometimes, tenants pay their rent late (or downright refuse to pay). Other times, rent payments get lost in the mail or fail to process through online banking. And let’s not forget that managing payments, late fees, and security deposits can be stressful if you lack the time to properly track and document everything. For these reasons, it’s crucial to establish an efficient, reliable, and cost-effective method for collecting rent from tenants. And most importantly, one that is suitable for your particular rental business. In general, you can collect rent using one of four methods: Mail In-person Online Drop-off location  Here’s how each works in practice and its advantages and disadvantages. Mail If you choose this method to collect rent from tenants, you’ll most likely receive payment in the form of a cheque. Receiving rent payments through the mail is convenient because it doesn’t involve any active collections process. You simply wait for the cheques to arrive at your home or office. There’s no need to travel to multiple locations to gather payment from tenants. However, you’ll need to exercise patience when dealing with mailed cheques. It can take several days for the post office to deliver the mail. And then, you must travel to your bank to make the deposit and wait for the funds to settle and appear in your bank account. The whole process could take a week or longer.  And, of course, mailed cheques can potentially get lost in transit, which will delay payment further. In addition, you must also contend with the risk of a cheque bouncing. While you can mitigate this risk somewhat by requiring a certified cheque, your tenants may not appreciate this policy, as banks usually charge a fee to prepare one. A bank draft is another option to guarantee payment upon deposit. However, not all financial institutions offer bank drafts, and serious problems can ensue should this type of document go missing. Online You have numerous options at your disposal when it comes to collecting rent online. Here are the most common: Direct Deposit Suppose you own a large number of rental properties. In that case, direct deposit can be an efficient and cost-effective way to collect rent from your tenants. However, setting up direct deposit can be a hassle, especially for a small rental operation. Your tenants will also need access to online banking to initiate a payment, and you’ll have to supply them with your banking details. The latter requirement poses security and privacy risks. A bank-to-bank transfer system also lacks various features to verify, track, and manage your payments. E-Transfer E-Transfer is a Canadian electronic money transfer service operated by Interac. It works as follows: The sender creates a payment by entering the recipient’s email address through their online banking. The recipient receives a notification in their email of a pending payment. Once the recipient accepts the payment, the funds are deposited in their bank account.   E-transfers are fast and reliable. It typically takes a day for the funds to arrive in your account, and neither you nor your tenants need to exchange banking details. Most banks also offer the service for free.  However, this payment method does have its drawbacks. Transactions can be tough to reverse if the tenant accidentally sends the money to the wrong email address. And E-Transfer fraud is quite prevalent, too.   Peer-To-Peer Money Transfer Platforms Peer-to-peer (P2P) money transfer apps allow you to send and receive funds directly to others, functioning as a middleman. These apps are flexible, user-friendly, and offer more features than e-Transfer. To enable funds transfers, both the sender and receiver connect their bank accounts to the platform. As with an e-Transfer, the sender would select the recipient’s email address to perform the transaction. The most popular money transfer platform in Canada is PayPal, which most tenants will likely use or be familiar with at least. Despite their widespread appeal, payments on these platforms can sometimes take longer to process compared to a standard bank-to-bank transfer. However, you can usually pay a fee to expedite transactions. In addition, some tenants may not wish to maintain an account on a money transfer app nor go through the trouble of learning how to use it. Rent Collection Software Rent collection software enables landlords to streamline and automate their rent collection process. Some firms offer a basic, no-frills platform, while others include a wide array of features. The latter may provide automatic payment reminders for tenants, real-time updates of payment status, and options to delay or skip payments at tenants’ request. These platforms facilitate automatic pre-authorized debit (PAD) payments. As a result, they require you to submit your banking information and that of your tenants. However, tenants will never know your banking details themselves, which helps to maintain privacy and security. Rent collection software works exceptionally well for landlords with many tenants and properties. Using automatic debit payments ensures that tenants always pay their rent on time. However, it can be a costly and redundant option if you operate a small rental business. Drop-Off Location Letting tenants drop off their rent payment at a designated location can work well for some landlords. Suppose you maintain an office as part of your rental business. In that case, you can instruct tenants to drop off their rent payments at its location on or before the rent due date. This method of collecting rent is convenient if most of your rental properties are located nearby your office. However, if you live far out in the suburbs while your tenants live in the downtown core, getting timely rent payments could prove difficult. In addition, problems can arise if the tenants drop off cash. The funds can easily be stolen or misplaced. And with no paper trail, it can be a real challenge to determine what happened to the money. Our Final Thoughts Choosing and sticking to an efficient and reliable rent collection process is necessary for a thriving rental business. Before you take on your first tenant, ensure you have a concrete plan of how you will collect rent each month. And more importantly, have a plan for dealing with unforeseen issues that may arise with payments. Be sure to outline your rent collection policy in your rental agreements. Explain clearly to your tenants how to submit payment. Provide instructions as needed and offer assistance to help tenants get set up. When it comes to ease, convenience, and accessibility, you almost can’t go wrong by collecting your rent online. Using a dependable, secure, and flexible platform will save you from plenty of headaches. And plenty of gas money, too, since you won’t have to visit your tenants! Singlekey’s Rent Collection platform can help you easily streamline your rent collection. In just a few minutes, you can set up your tenants for automatic payments. You can effortlessly track payments from one location, and the platform will even dispatch reminders to tenants of upcoming rent. --- ### Pros and Cons of Renting to Students [Pros and Cons of Renting to Students](https://www.singlekey.com/en/ownerkey/finding-tenants/pros-and-cons-of-renting-to-students/) Date: June 16, 2022 Author: SingleKey Content: There’s no doubt that allowing students to live in your rental property is a bit of a gamble. However, the arrangement can also pay off handsomely if you screen for the right tenant and set clear rules and expectations in the rental agreement.Still, it’s wise to consider both the pros and cons of renting to students before opening your doors to them.Pros of renting to studentsConsistently high demandYou can count on demand for student living accommodations to remain high as new students enter post-secondary institutions every year.Enrollment at universities has skyrocketed in the last few decades. According to Universities Canada, over 1.4 million full-time and 266,000 part-time students studied at universities across Canada in 2019.Higher profitAs a landlord, you can easily extract a higher profit from your property rental business if you opt for students as your tenants.The reason is that students are more likely to live with roommates than the general population. This arrangement helps keep their living expenses down and maintain a thriving social life. As a result, you can comfortably charge a slightly higher rate per student. In addition, studies show that rental properties located near schools generate rents 30% to 40% higher than those located far away.Lower expectationsStudents expect far less from a rental property than the general population. They’re not looking for a unit with fancy architecture, modern appliances, or lavish furnishings. Most will be content with the bare necessities.This fact bodes well for you as a landlord. You won’t need to dish out thousands of dollars on upgrades and pricey gadgets.Easy to attract tenantsAdvertising your rental property to students is easy and cheap. There are numerous rental sites and apps available, many of which allow you to post a free ad. And since most students are no strangers to apps, they can quickly find your listing.Some universities also work with landlords to help find accommodation for students during the start of a new school year. And referrals by other students are common as well.Safe betSome landlords argue that because students have fewer financial resources, they pose a higher risk for non-payment of rent. However, in many cases, the opposite is true.For example, some students receive financial help from their parents to ensure they can cover the cost of the rent. Their parents may also act as co-signers for the rental agreement. In addition, many students have access to a line of credit from a bank or receive funding from a government student loan program. In most cases, the amount is enough to cover their living expenses, including rent.Cons of renting to studentsLittle or no credit historyThe vast majority of students tend to be relatively young, which means they likely have little or no experience with loans or bill payments.As a result, if you pull their credit report, you may discover that their credit score is non-existent. The presence of zero or low credit scores will make it exceedingly difficult to vet them properly.Poor money managementBeing young and inexperienced, students can lack prudent money management skills.Should they splurge on impromptu shopping sprees or frequent nights out with friends, they can quickly deplete their bank accounts. As a result, they risk falling behind on rent, and you may have no choice but to evict them.Increased risk of property damageWhether by accident or carelessness, students may cause damage to walls, appliances, floors, light fixtures, and other structures in your unit. They may also fail to keep the property clean and tidy, resulting in an infestation of bugs, rodents, etc.Higher turnoverWith fewer commitments and responsibilities, it’s not uncommon for students to frequently change plans and make hasty decisions. And this includes the place they choose to live. Some students may even refuse to sign long-term lease agreements, preferring to pay rent month-to-month.As a landlord, you must prepare to deal with a high turnover rate. Should a student cease being a tenant mid-way through the school year, your unit may remain vacant until the next semester or the school year starts. The result is a loss in rental income over many months.Irresponsible behaviourMost young people love to party, stay up late, listen to loud music, etc. While there’s nothing inherently wrong or out of the ordinary with students having some fun, excessive noise and rowdiness may disturb neighbours.These incidents can instigate a slew of complaints and arguments. And in some cases, the police may get involved, particularly if neighbours suspect illegal activity.What to consider when renting to studentsBefore renting your property to one or more students, prepare accordingly by drafting a comprehensive rental agreement and setting concrete expectations. Here are some things to consider:Quiet hoursIt’s essential to set a quiet hours policy when renting to students. As mentioned already, students have a reputation for being noisy, especially at night. Include this rule in your rental agreement, clarifying that excessive noise is prohibited, especially past a specific time.Security depositsAs mentioned, students can be notorious for causing property damage. If you’re considering taking on a student as a tenant, never forget to collect a security deposit when it’s time to sign the rental agreement. You don’t want to be left on the hook for expensive repairs once their lease ends.Lease guarantorAsking for a co-signer to sign the lease agreement is a wise move, as it helps to minimize disruption in rent payments. The co-signer will most likely be one of the student’s parents, who’ll step in to cover any rent payments they miss.Our final thoughtsIt’s essential to be aware of the advantages and disadvantages of renting to students. You’ll need to decide whether you’re comfortable leasing your property to young people who earn little or no income. And not to mention, who may party a little too hard from time to time!But as with any tenant, building a good rapport is crucial as is maintaining open and honest communication. Ensure you treat students with respect and periodically check in on them to address issues they may have. Doing these things can help establish a strong tenant-landlord relationship.For many students, it’s likely their first time living away from home independently. You can help make the transition smoother by doing little things to help make their lives easier. One way to do this is to allow them to pay rent online. Being young, they’re likely tech wizards already and pay their bills online – they’ll appreciate the convenience.Luckily, online scheduled rent payments are super-fast and easy to set up with SingleKey’s Rent Collection tool. You can be up and running in just five minutes. Simply provide the lease details, connect your bank account, and invite the tenant to do the same. --- ### SingleKey Partners with Raising the Roof to Fight Homelessness [SingleKey Partners with Raising the Roof to Fight Homelessness](https://www.singlekey.com/en/singlekey-partners-with-raising-the-roof-to-fight-homelessness/) Date: June 15, 2022 Author: SingleKey Content: For over 25 years, Raising the Roof has delivered effective social programs and fundraising campaigns to curb homelessness in Canada. They also help raise awareness about the issue and passionately engage in open dialogue with communities and public/private institutions to implement long-term solutions. We’ll be engaging in various promotional activities to bring attention to the organization’s campaigns and projects, helping to spread the word about the solid work they do. We’ll also be active volunteers, supporting them in their noble mission of squashing homelessness across Canada. Why We Support Raising The Roof’s Mission Being in the business that we’re in, we work closely with landlords, but we understand the needs of tenants as well. Tenants come from various backgrounds and circumstances, but they all share a common goal: finding a place to call home. For some, however, acquiring a safe, stable and affordable home isn’t always easy or possible. Due to a wide range of factors, often outside of their control, they may be unable to secure this basic need. Here are some startling statistics about homelessness in Canada: About 235,000 people experience homelessness each year On any given night, 35,000 people experience homelessness Young people aged 16 – 24 make up 20% of the homeless population Aboriginal people are over-represented in the homeless population – 1 in 4 identify as Aboriginal or First Nations Children and families increasingly make up a growing segment of the homeless population: 10% of Canadian families live below the low-income cut-off 4% of Canadian children live in poverty Raising the Roof has pledged to help such individuals and families. They do so by offering programs aimed at upskilling and constructing affordable housing through partnerships with local agencies and sponsors. We believe that all people deserve access to adequate housing and a chance to improve their lives. As allies of Raising the Roof, we hope to contribute to their efforts to create long-lasting solutions to homelessness. How Raising The Roof Helps To Combat Homelessness Across Canada Raising the Roof is an organization marked by hard work, dedication, generosity, and compassion. Their tireless commitment to tackling homelessness in Canada is evident in the programs they run. The iconic Toque Campaign is among the organization’s initiatives, which has raised an astounding $10 million for over 200 homeless prevention programs. In 2018, the organization launched the Reside Program, a pilot project based on a successful model from the UK. The program aims to acquire and renovate vacant or under-used real estate properties into affordable housing units. After launching the program, the organization found that most vacant properties were in desperate need of repair. In the process, they also discovered an excellent opportunity to provide hands-on construction training for individuals struggling to secure employment. To kickstart the program, Raising the Roof partnered with Building Up, a GTA-based social enterprise contractor that trains and employs people facing barriers to employment. The organization offers work opportunities, training, and career support to women, Indigenous people, newcomers, visible minorities, people with disabilities, at-risk youth, individuals with past incarceration records, and many others. Building Up pays all trainees for their work through the organization, helping to remove a significant barrier to participation. Participants begin the program in the classroom and workshop. They go through eight weeks of soft skills (math, literacy, job skills) and trades skill training as preparation. Then, they receive hands-on experience on job sites to practice what they’ve learned. The training is personable, with individualized wraparound support for each trainee. For example, if a trainer doesn’t have a driver’s license, they receive assistance acquiring it and purchasing a vehicle. Thus, they can then travel to job sites inaccessible by public transit. Through the Reside program, Raising the Roof has completed several housing projects. As a result, many previously homeless people now have access to safe and affordable housing. In addition, 125 people who worked on making these homes move-in ready, who were at risk of being homeless themselves, now enjoy well-paid, stable careers in the construction industry. Raising the Roof is currently scaling up the Reside program intending to complete 5,000 units over the next ten years across Canada. Their efforts will help provide housing and employment opportunities for many vulnerable people. This year, Raising the Roof is starting property renovation projects in Winnipeg, Sudbury, and Orillia. The projects will provide hands-on construction training for at least 120 people, with the support of social enterprise contractors. And once construction is complete, many people who are currently homeless will have access to a safe place to live. We’re honoured to partner with Raising the Roof and help stem the cycle of poverty that grips so many people across Canada. If Raising the Roof’s mission resonates with you, we encourage you to visit its website. Here, you can find more information about the organization and the inspiring work it does to enrich the lives of those struggling with homelessness. Consider donating, becoming an active volunteer, or simply helping to spread their message. Oh, and don’t forget to subscribe to their newsletter for news on upcoming events! --- ### How Can Tenants Improve Their Credit Scores [How Can Tenants Improve Their Credit Scores](https://www.singlekey.com/en/how-can-tenants-improve-their-credit-scores/) Date: June 14, 2022 Author: SingleKey Content: A high credit score indicates the tenant has solid money management skills, including timely bill payments. Conversely, a low credit score suggests they have a habit of missing payments, overspending, and taking on more debt than they can handle. Tenants with low credit scores routinely struggle to secure rental agreements, as landlords don’t want to assume the risk of delinquent rent payments. In addition, they also face hurdles in obtaining credit cards, mortgages, and other loan products. However, tenants can improve their credit scores over time by adopting prudent and time-tested financial habits. And with the help of a service like automated rent collection, you, as a landlord, can even help them achieve this goal! Here are some tactics a tenant can employ to boost their credit score. 1. Make timely payments Making timely payments consistently for an extended period is the best way for a tenant to raise their credit score. In fact, payment history accounts for a whopping 35% of an individual’s credit score. Thus, tenants should aim to pay their bills on time, without fail. Given how vital on-time payments are for credit health, it’s wise for them to use automated payment processing wherever possible. By doing so, they can ensure they never miss a payment. And as long as payments are reported to credit bureaus (Equifax and TransUnion), tenants can gradually improve their credit scores. As a landlord, a great way to help tenants reap the rewards of on-time payments is by using SingleKey’s Rent Collection tool. This platform reports all payments made to credit bureaus, whether on time or late. It acts as an excellent incentive for tenants to pay their rent on time, as each payment will work to enhance their credit. Not only that, but the platform saves you time and effort each month when rent collection rolls around. That’s right – no more fumbling around with cheques and keeping track of endless e-Transfers! 2. Keep a low credit balance Credit utilization is another critical metric credit bureaus measure when assigning credit scores. It refers to the amount of credit a person uses relative to their credit limit. Suppose a tenant has a credit card with a $5,000 limit and their current balance owing is $2,800. In that case, their credit utilization is 56% ($2,800 / $5,000).  High credit utilization suggests the person is charging too many purchases against their credit limit. As a result, they may face difficulty paying down their balance, especially if they face a steep interest rate. Not surprisingly, high credit utilization will decrease their credit score.  A good rule of thumb that tenants should observe is to keep their credit utilization between 30% and 35%. 3. Limit the number of credit checks Hard credit checks are a routine part of lenders’ vetting process for evaluating loan applications. However, they also impair the applicant’s credit score, at least temporarily, as each one appears on their credit report.  For this reason, tenants should be mindful of the number of credit products they apply for. A slew of hard inquiries incurred during a short period suggests they may be in desperate need of credit—not good. However, there’s one notable loophole. Credit bureaus record several hard credit checks done over a brief period (usually between two and six weeks) as a single inquiry for specific loan products. These are mortgages, car loans, or student loans. Credit bureaus understand that borrowers like to shop around and explore their options before signing up for such loans, so they judge these types of checks less harshly. 4. Consolidate debt Too much debt (especially the kind that charges high interest rates) can be overwhelming, leading to missed payments and an increased risk of default. A strategy tenants can use to ease the financial strain is to consolidate their debt. Consolidating debt under a single loan low-interest loan is beneficial for three reasons: You save money on interest charges You pay off debt faster You only have one loan to track and manage  Two common ways to merge debt are through a personal loan or a balance transfer credit card. 5. Use a variety of credit products Credit bureaus take note of the type of credit products individuals use when they assign credit scores. This factor is called the “credit mix.” A borrower using a wide array of credit products signals that they can comfortably manage different types of debt.  Let’s assume a tenant needs access to additional credit after maxing out their credit card. In that case, it would be better for them to apply for a short-term installment loan rather than a new credit card. 6. Use credit building products Credit building products are geared toward individuals looking to establish or fix their credit score but otherwise don’t qualify for standard loans. Two commonly-used products are secured credit cards and credit-builder loans.  A secured credit card is a unique type of card where the borrower must contribute a deposit before being able to use it. The credit limit is often limited to the size of the deposit. A credit-builder loan allows borrowers to build their credit while saving money simultaneously. Instead of receiving money from the lender upfront, the borrower services the debt by making fixed monthly payments and interest. Once they repay the loan in full, they receive the principal amount from the lender. 7. Keep old credit accounts open Experience matters when it comes to credit. The longer you’ve maintained one or more credit accounts, the better. The average age of a credit account is a factor that credit bureaus consider when setting credit scores. As a result, tenants should never close credit accounts, even if they don’t have immediate plans to use them. Our final thoughts A high credit score is vital for anyone wishing to obtain a loan, be it a mortgage, line of credit, or auto loan. And, of course, it’s also necessary when applying for tenancy in a rental property. With the right tools, strategies, and habits, tenants can work to improve their credit scores over time. And the best way they can start is by making on-time rent payments (it’s no accident that we listed this method as number one in this article!) As a landlord, you can help them boost their credit – and, at the same time, make your job managing rent payments a breeze. By signing up for Singlekey’s Rent Collection tool, you gain access to a platform that allows you to collect rent payments from your tenants online, quickly and conveniently. The platform is fully automated, which means you can forget about needing to take multiple trips to the bank to deposit cheques. You’ll receive your money in your account within two business days – that’s faster than some banks! And if tenants miss payments, there’s no need to send dozens of text messages and voicemails. SingleKey will do the job for you by sending them automatic reminders. Setting up your account with SingleKey takes just five minutes – and there are zero fees for your first three tenants! --- ### Rent Collection Benefits for Tenants [Rent Collection Benefits for Tenants](https://www.singlekey.com/en/rent-collection/rent-collection-benefits-for-tenants/) Date: May 26, 2022 Author: Logan Zloty Content: What Are The Benefits? It can be easy to see the benefits of automatic rent payments for landlords, but what about tenants? There are many benefits for tenants signing up for SingleKey’s rent collection. Not only to help eliminate accidental missed payments but also to improve your credit score. A good credit score is desirable but can be challenging to build. This is why SingleKey aims to help tenants improve their credit by paying their rent on time. Build Your Credit Each payment is recorded to the credit bureaus, so by paying your rent on time, you contribute to building your credit score. For young adults, it’s common not to have any credit history on file, and they are typically unaware of how to start building good credit. Reporting rent payments can help young adults begin creating their credit history, which can help when you apply for credit cards or loans. For those new to Canada, it can take up to six months to start building a credit score. While it can be challenging to start building a credit history in a new country, SingleKey’s rent collection helps provide a simple way for tenants to start building their credit. Improve Your Credit Score Tenants should be rewarded for making their rent payments on time. When making rent payments by e-transfer, those transactions are not reported to the credit bureaus. Meaning one of your most significant monthly expenses does not count towards building your credit score.  Credit building can be complex. Mistakes from a few years ago may still negatively impact your credit. Having poor credit can reduce your chances of renting the places you want the most, even if you have always paid rent on time. SingleKey’s rent collection helps tenants gain recognition for rent payments by reporting it to the credit bureaus to help improve their credit.  By building a good rent payment track record using SingleKey’s rent collection, you can keep a log of on-time payments to share with future landlords. Not only is it good to keep on file, but this will be beneficial for the next time you’re looking to rent. Providing proof of on-time payments can look admirable for future potential landlords and could help your chances versus other applicants. Even if you don’t have perfect credit, rent reporting helps create a positive tenant record while also improving your credit score. Eliminate Unnecessary Stress Life gets busy fast, and it can be easy to forget to send a rent payment by e-transfer or deliver a cheque. SingleKey’s online rent collection allows both tenants and landlords to set it and forget it. Secure and automatic scheduled payments will eliminate the stress of late payments while also saving time. One of the worst renting experiences for tenants is writing post-dated cheques incorrectly, which SingleKey looks to eliminate by implementing scheduled rent payments through pre-authorized debit, which can be set up in only a few minutes online. This means both landlords and tenants don’t need to stress about possible bounced cheques or accidental missed payments. Online rent collection saves tenants stress and time which helps build trust with landlords. Final Thoughts SingleKey’s rent collection can help tenants build good credit for their future. It can be complicated to improve credit scores. Having good credit is important for applying for loans, credit cards and new rentals. Tenants can now be recognized for their on-time rental payments to build their credit online with scheduled and secure rent collection. SingleKey’s rent collection aims to help make renting easier for both landlords and tenants. Try our free rent collection tool --- ### Why Should Landlords Require Tenant Insurance? [Why Should Landlords Require Tenant Insurance?](https://www.singlekey.com/en/ownerkey/risk-management/why-should-landlords-require-tenant-insurance/) Date: May 20, 2022 Author: SingleKey Content: Although tenant insurance is widely known as being useful, there are still many misconceptions held by renters when it comes to its importance. The first is that many believe their landlord will cover them in the event of an accident, the second is they believe it’s too expensive, and the third is that they don’t believe their possessions are worth a lot. As a landlord, you probably know these misconceptions aren’t entirely true!With that said, let’s dive into how making tenant insurance a requirement in your building can protect you as a landlord, and how you can encourage your tenants to get covered!What is tenant insurance?Tenant coverage, also known as tenant insurance, renter’s insurance, or content insurance, is designed to cover those who rent your property. It helps ensure that your tenant’s belongings and your property are protected from your tenant’s liability; thus, reducing the risk exposure associated with your tenants.How much does tenant insurance cost?Tenant insurance can cost as little as $20 a month, depending on the type of coverage, contents limits, and deductibles selected by the tenant. There’s a plan to suit every budget!What does tenant insurance cover?At the minimum, a basic tenant insurance policy should cover the following:1. Additional Living ExpensesThis is money your tenant can use to pay for the additional cost of alternate accommodations if their unit is uninhabitable due to extensive damage (a claim/covered loss). For example, if there was a fire at your property and your tenants are forced to move out to an Airbnb for a few weeks during repairs, additional living expenses coverage is designed to cover the costs.2. Personal LiabilityImagine your tenant accidentally causes damage to their unit and you, or your insurance company after having paid for your claim, seek to recover the cost of repairs that they are responsible for. Their liability policy is designed to cover the portion of the repair costs they’re responsible for, that way, they can avoid paying out of pocket. This part of a tenant insurance policy also applies to the damage they may have caused to another tenant’s property, along with injuries they may have caused to another.3. Contents CoverageLet’s say your tenant’s apartment was broken into while they were out for the day, and everything from their new bike to their flat-screen television was stolen. Contents coverage is money your tenants can use to replace their stuff in the event it gets stolen or damaged.How can you encourage your tenant to get covered?An obstacle many landlords face is their tenants resisting or questioning the need for tenant insurance. Their reasons can vary from thinking it’s too expensive or that their possessions aren’t worth insuring; but with costs being as little as $20 a month, it can be easily factored into most tenants’ budgets.With that price in mind, tenant insurance really isn’t a large expense at all, and could very well be one of the lower monthly payments tenants would make. After factoring in the cost to replace all the items in a tenant’s home (think furniture, electronics, clothes), accommodation fees if they can’t stay at home for a few nights because of damage (think hotel room/Airbnb, food, toiletries) and the amount you could be responsible to pay if your tenant accidentally causes damage to the building or injures somebody, $20 is chump change!If you’re looking for a few simple steps to help you get started on encouraging your tenants to get covered, here’s what we recommend:Make it required. Depending on what province you’re in (ie. Ontario), you may have the right to legally require it as part of the lease agreement.Make it easy. Include information about the benefits of tenant insurance and where to get it in your leasing package. Partner with an insurance provider to get your tenants a preferred partner discount.Help your tenant protect their belongings with Walnut's tenant coverage.Our final thoughtsTenant insurance provides landlords with the ability to manage the risks that come with renting. Unintentional damage caused by tenants can, for lack of better words, really be a bummer. By making insurance a requirement, you’d be able to better avoid costly accidents and have the ultimate protection needed for tenants that live in your rental properties. Making tenant insurance a requirement doesn’t need to mean more paperwork for you. SingleKey has partnered with Walnut to provide your tenants with easy access to affordable coverage. Within our SingleKey products, your tenants are guided straight to it, making it an easy and obvious part of the leasing process. --- ### Apartment vs Condo: Which Is Better? [Apartment vs Condo: Which Is Better?](https://www.singlekey.com/en/apartment-vs-condo-which-is-better/) Date: May 6, 2022 Author: SingleKey Content: At first glance, apartments and condos seem indistinguishable from one another – both offer individual living units in a building complex with shared common areas, and rent payment is due monthly. However, there are some crucial differences between the two, which may sway you to opt for one over the other. As a result, it’s wise to get acquainted with the features and perks of each offer; that way, you can make an informed choice that results in the living arrangement best suited for you. Let’s dig into some of the factors to consider before deciding whether an apartment or condo is the ideal place to rent. How Much Are You Willing To Pay? In general, you’ll find that renting a condo is more expensive than an apartment. Condos usually offer a more comprehensive array of amenities than apartments, such as gym equipment, extra storage space, swimming pool, party room, concierge service, and ample outdoor lounge areas. Quite simply, the more goodies you have access to, the more you can expect to pay in rent each month, whether you have a fixed or periodic tenancy agreement. Many condos also are equipped with modern appliances and located in sought-after areas. These factors also help contribute to higher costs for the condo owner. They’ll pass on these costs to you through a steeper monthly rent. Compared with condos, apartments generally offer fewer perks and amenities, lack the latest appliances and decor and are found in less desirable locales. All of these attributes translate to lower overall rent payments. Who’s In Charge Of Property Management? Apartments are typically owned by private corporations that employ people who have the knowledge and expertise to manage rental properties. With extensive experience in the industry, they can resolve any issues that might arise in your apartment unit quickly and competently. These include leaky sinks, faulty appliances, burst pipes, bug infestations, and quarrels with other tenants. The apartment owner/property manager has proven systems to keep things running smoothly, so you can rest easy knowing your apartment is in good hands. And, as long as you pay your rent on time, your landlord will generally leave you alone and respect your privacy. On the other hand, when renting a condo, your landlord will most likely be a single individual or family looking to earn a passive income from their property. They may impose strict rules and regularly visit you to check up on their property. Naturally, they wish to protect their investment, but we don’t blame you if you find this a tad bit intrusive! In addition, your condo landlord may lack the experience, knowledge, and time to deal with any repairs and maintenance required to keep your unit functioning and may be helpless in the face of a legal dispute on the property. How Important Are Amenities To You? In most cases, condos offer superior amenities to apartments. Depending on the condo unit you rent, you could have access to a gym, party room, swimming pool, numerous lounge areas, a pet washing station, and underground parking. That’s right – no more scraping the snow off your windshield in the morning! Luxury condos may offer even more: a spa, sauna, valet parking, concierge service, golf simulators, business meeting rooms, tennis courts, roof-top terraces, and nearby lakes with sprawling lush jogging trails. Conversely, apartments provide much less in the way of amenities. You can expect surface stall parking, an on-site laundry room, extra storage space, and maybe a no-frills gym with generic equipment.  Expect to be disappointed if you’re hoping for a rock climbing wall like the one High Park Residence in Toronto offers! Are You Looking For A Newer Building? In general, apartments tend to be older, while condos are a newer type of dwelling, with many having been built after the 90s and steadily increasing in number due to rising demand. As a result, you can expect more dated architecture if you opt for an apartment, and this aspect extends to appliances and other interior features. Along the same lines, the building may suffer from aging plumbing and electrical work, which could be a hazard if the leasing company has neglected repairs and upgrades. You may not find an apartment appealing if you value modern architecture, sleek designs, and structural integrity. Conversely, condos offer modern design aesthetics, are packed with the latest appliances, and are less prone to structural and electrical issues. How Critical Is The Location To You? Condos cluster around the downtown core or nearby major transportation hubs and bustling commercial centres. As a result, travelling to work and doing your daily shopping can be a breeze- you may not even need a car to get around. On the other hand, apartments are scattered all over the city. Not all are convenient location-wise, with some secluded from subway and bus stations, grocery stores, retail outlets, and entertainment centres. How Much Do You Value Flexibility And Personalization? A condo owner may be more personable and open to negotiation for your monthly rent payments. You may have the option of paying month-to-month if you don’t feel confident committing to a year-long lease. They may also have liberal rules and offer you more freedom in customizing your unit. You may be allowed to keep a pet and alter your living space’s interior features and layout to add your personal touch. However, keep in mind that you must still abide by the condo corporation’s bylaws – as a tenant, you’ll have no input when it comes to these rules. With an apartment, your landlord could be a large leasing company that oversees many rental units spread across dozens of buildings. Since their primary goal is to maximize their profit, they won’t hesitate to hit you with a rent hike if they feel it’s warranted. Apartment owners can be less receptive to negotiating your rent payments and granting concessions. They may also place severe restrictions on your ability to personalize the interior. How Long Do You Plan On Renting Your Unit? It’s prudent to contemplate how long you intend to remain in the apartment or condo. Apartments offer fewer amenities and a generic design and provide fewer opportunities for interior customization. Thus, they’re best suited for those looking for a short-term living arrangement who plan to upgrade to a higher-end suite soon. Alternatively, a condo provides a broader range of amenities, modern designs, newer appliances, and may allow for more customization in interior decorating. Thus, it’s ideal for tenants looking to settle in for an extended period – you might as well get the best bang for your buck if you’ll be staying put for a while. What Are Some Of The Hidden Risks Associated With Apartments And Condos? Since many are aimed at lower-income families and thus charge lower monthly rent, apartments are more likely to be equipped with lacklustre security features. As a result, there’s a greater risk of theft and break-and-enters, especially if the building is located in a crime-ridden neighbourhood. Alternatively, condos usually offer superior security, such as state-of-the-art cameras, attentive concierge service, and 24/7 security monitoring. Still, condos do come with their fair share of risks. Your landlord may decide abruptly to sell the unit you’re renting, maybe because they secured a new job in a different city. As a result, you may have to scramble to find a new place to rent, which can be a major inconvenience. This scenario is less likely to occur with an apartment since your landlord is a leasing company that wishes to extract as much rent revenue from the unit as possible. Thus, they have little intention to sell it. Another hidden risk that may materialize in a condo environment is a sharp rent increase due to a special assessment levied by the condo corporation against the condo owners.  A special assessment is a one-time, usually significant fee that condo owners incur to cover the cost of a major repair or upgrade. Should this occur, horror stories like this one can emerge for condo owners. Not surprisingly, such an immense expense can result in your future rent payments soaring. Final Thoughts There’s no clear answer when choosing between an apartment and a condo. An apartment may be the right choice for your best friend or family member, but not for you – everyone’s situation is unique. Condos are routinely touted as the superior option due to their sophisticated designs, the plethora of amenities they offer, and proximity to critical areas of the city. If these things matter to you, and you don’t mind paying higher monthly rent, a condo is likely a good match. However, there’s little difference between the two dwellings in some instances, so don’t stress over the details. It’s possible to find an excellent apartment on par with or even exceeding in features and benefits some condo units offer. Suppose your chief concern is keeping your housing costs low; plus, you don’t care about extravagant design and need little in the way of amenities. In that case, an apartment is an excellent option. Before searching for the perfect place to rent, ensure you set aside some time to assess the factors that matter to you the most and let them guide your decision.  Whether you prefer an apartment or condo, renting is a vastly more enjoyable and stress-free experience if your landlord is on board with Single-Key. Our unique platform makes paying your rent online a breeze, all of which we report to credit bureaus, giving your credit score a nice boost. Plus, you can postpone an upcoming rent payment if you’re strapped for cash at no cost to you! Learn more --- ### Fixed Tenancy vs. Periodic Tenancy [Fixed Tenancy vs. Periodic Tenancy](https://www.singlekey.com/en/ownerkey/laws-regulation/fixed-tenancy-vs-periodic-tenancy/) Date: April 11, 2022 Author: SingleKey Content: Benefits Of Fixed-Term Agreements The rent amount is fixed Lease terms are fixed Occupancy is guaranteed for the duration of the agreement Fixed Term Tenancy A fixed-term tenancy has a specified start date and termination date. Fixed-term leases usually range from six months to one year. At the end of a fixed term, the tenant and the landlord would have to decide if they would like to continue the tenancy. The tenant will either vacate the property or can transition to a month-to-month tenancy.  Benefits Of Periodic Contracts Lease terms are easily adjustable Tenants do not have to wait for the expiry of the agreement to move out Periodic Tenancy A periodic tenancy has a specified start date but does not have an expiration date. Periodic agreement terms are provided on a monthly basis and these leases usually automatically renew at the end of each month. If a landlord wants to increase the rent or the tenant wants to move out, proper written notice must be provided. Learn more about the rent increase guidelines of each province and territory here. Conclusion: Choosing Between Fixed Tenancy And Periodic Tenancy Overall, the type of tenancy you choose can depend on your priorities and what you are comfortable with. If you’re looking for flexibility, a periodic tenancy would be more suitable. On the other hand, a fixed tenancy vs periodic tenancy would be more favorable if you are looking for increased financial security. Each agreement term has its pros and cons. Choosing between fixed-term and periodic tenancies comes down to what works best for the landlord and tenant. Get it now --- ### 3 Reasons Landlords Shouldn’t Accept Credit Reports Directly from Tenants [3 Reasons Landlords Shouldn’t Accept Credit Reports Directly from Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/3-reasons-landlords-shouldnt-accept-credit-reports-directly-from-tenants/) Date: April 7, 2022 Author: Logan Zloty Content: Articles related to tenant screening How Can Landlords Spot Fake Application Documents from Tenants? A Landlord’s Guide to Rental Verification How to Screen Tenants Properly What Should Landlords Look for in A Tenant Credit Report? Good Tenant Bad Credit: What you Need to Know Choosing responsible and financially stable tenants is critical to running a thriving rental business. And the best way to make this determination is to perform a credit check on them. More specifically, it means you’ll need to evaluate their credit report. But how do you go about doing so? One option is to accept credit reports directly from tenants, saving you time and effort. However, it’s not a wise plan to adopt, as it can potentially lead to tremendous problems with missed rent payments down the road. What’s Wrong With Accepting Credit Reports Directly From Tenants? Asking tenants to supply their own credit reports is a risky move for three reasons. The report may a) be missing critical information, b) contain outdated information or c) contain altered information. Let’s explore each in detail. Missing Information A tenant can easily and quickly send a screenshot of their credit score from their bank or a credit services provider like Credit Karma or Borrowell. But while a credit score conveys helpful information, it’s typically not enough to allow you to make an informed decision about their ability to make timely rent payments.  To properly screen applicants, you need an extensive breakdown of their credit history, which these reports usually lack. By only examining the credit score and other basic details, you miss out on additional vital information that can aid in your decision-making. Here are some things to look for in a tenant credit report: Late payments Total outstanding debt Type of debt  Amount of credit used relative to the available credit limit  Accounts sent to collection agencies The length of time each account has been active  Passed bankruptcies Outdated Information It’s common for some tenants to provide the same credit report to multiple landlords as they seek out a rental property. Naturally, this is a wise move as it saves them time and money – they don’t need to pay a fee each time they wish to access their report. However, from the landlord’s perspective, this practice isn’t ideal. The reason is that if you accept such a report, there’s a chance that it lacks up-to-date details.  A person’s credit standing can change dramatically over time, sometimes even during a short period. As a result, the credit report you assess may not accurately reflect their current circumstances. Suppose a tenant’s credit report was prepared and printed a month ago. In that case, there’s no way to tell if their credit situation has improved or deteriorated since then. They could have had a major account shut down by a creditor. Or maybe they’re teetering on the verge of bankruptcy. You won’t know unless you’re looking at the latest credit report possible.  Remember that Credit bureaus (Equifax and TransUnion) can take 30 to 45 days to update a person’s credit report. This is how often they typically receive new information from lenders. Altered Information In some cases, an applicant may knowingly and willingly provide you with an altered credit report in a deceitful attempt to secure tenancy. As the digital world advances, it’s becoming increasingly accessible and affordable for individuals to modify their credit reports. With the help of sophisticated editing software, they can even create new ones from scratch. And if they don’t possess the necessary software and skills to craft a fake report themselves, they can pay someone to do it. Here’s an example of a company that purports to create fake documents, including credit reports, for a price: Granting an applicant’s tenancy based on a false credit report can wreak havoc on your rental business. For example, in the Greater Toronto Area, a man was charged with fraud for allegedly using fake identification to rent multiple properties and turning them into illegal rooming homes.  To carry out the scheme, he’d submit altered credit reports and fake references to the property owners. Once he could occupy the property, he’d stop paying rent and list the rooms on Kijiji.  One landlord remarked that she didn’t see any red flags when initially reviewing the document but later discovered that they were fake. She was lucky to be able to evict him due to a fire code violation. Otherwise, the scheme would have potentially gone undetected for a longer time. At this point, the man was already facing criminal charges brought on by multiple landlords, with others trying to evict him. This case is a striking reminder of the risks of accepting credit reports directly from tenants. Unfortunately, since tenants may obtain credit reports from numerous sources, it can be challenging to determine whether a particular document is legit. Why Landlords Should Run Their Own Credit Reports? Reviewing credit information is a critical step in the screening of prospective tenants. And it’s especially crucial to ensure that the data is accurate, relevant, and timely. As a landlord, you can reduce the risk of choosing tenants likely to fall behind on rent by personally pulling up their credit reports. Accepting a report from a tenant that offers only the credit score and little else won’t provide you with the details you need to make an informed decision. You’ll need to dig into the details and examine late payments, credit utilization, debt type, etc. It’s hard to do that without the aid of a comprehensive report. The vast majority of tenants are honest and won’t act to mislead you with false credit details. However, you must remain objective and minimize the risk to your business by running credit reports on your own. That way, you’ll protect yourself against unscrupulous applicants who won’t hesitate to provide fraudulent documents. How Can Landlords Run Credit Checks That Are Accurate And Trustworthy? Landlords can use SingleKey to run credit and background checks on prospective tenants. Each tenant report offers an upgraded Equifax credit report that includes a wealth of information about an individual’s credit history. You can view their credit score, debt summaries, late payment history, outstanding debt, bankruptcies, collections, and more. SingleKey also includes a background check that scans for criminal history, past evictions, employment history, social media profiles, etc. With all this data at your fingertips, you’ll be able to accurately predict an applicant’s payment habits. Final Thoughts Given a credit check’s vital role in the tenant screening process, it’s worth doing it right. And that means personally running a credit report for each applicant you’re considering for tenancy. But you’ll need a way to perform this critical task efficiently and effectively or risk getting buried in paperwork. The rental business is a dynamic and fast-paced industry where every minute counts. Quality tenants are not keen on waiting weeks to find a place to live. And they certainly don’t want to deal with tedious credit checks that take days to complete. They’ll gladly move on to the next available property. Luckily, Singlekey provides you with a comprehensive credit report in just five minutes! Your report will be ready for you to read in the time it takes to make a cup of coffee, with all the crucial details you need to help you find the ideal tenant. If you’re a busy landlord (or dislike coffee), you can send invites to prospective tenants via email to fill in their applications. Once complete, you’ll gain access to the reports right away! Get a Reliable Report In Only 5 Minutes SingleKey’s reports only take five minutes! The rental space is a fast-paced environment, where every minute counts before the good tenants move on. Landlords can expect to receive reliable reports in the time it takes to make a good cup of coffee.  Busy landlords, or simply ones who dislike coffee, have the option to send invites to prospective tenants via email to fill in their own applications. Reports are ready once completed! Order your tenant report --- ### How to Screen Tenants Like A Pro (Checklist Included) [How to Screen Tenants Like A Pro (Checklist Included)](https://www.singlekey.com/en/ownerkey/tenant-screening/how-to-screen-tenants-properly/) Date: March 30, 2022 Author: Mark Gregorski Content: One of the most important tasks you need to master as a landlord is screening tenants. As a landlord, you want to sign a lease agreement with someone who’ll pay their rent on time, take good care of your property, and not be a nuisance to your neighbours. Understanding how to screen tenants will help maximize your chances of finding such a tenant while avoiding ones who’ll cause you nothing but grief.It’s much easier to screen out a tenant who isn’t a good fit than to evict someone once they’ve moved into your property. That’s why it’s prudent to invest the time to vet a tenant thoroughly before handing them the keys to your rental.In this article, you’ll learn the most critical factors to assess when screening potential tenants. We’ve also created a handy checklist you can refer to each time you review a new applicant.Let’s begin!The importance of pre-screening tenantsBefore diving headfirst into the official screening process, it’s worth gathering some basic details about the tenant to determine if they meet your fundamental requirements. That way, you can automatically rule out specific applicants and proceed to vet those with potential. You can pre-screen candidates by speaking with them over the phone, through email, or text messaging. During the conversation, you can inform them what your screening process entails and explain what information they’ll need to provide on the rental application form. Naturally, some applicants may decline to move forward at this stage based on your qualification criteria and expectations.Pre-screening candidates who’ve expressed interest in your rental also allows you to ask questions that can help you assess their suitability as tenants. Some examples are:When do you plan to move in?Why are you moving?Can you provide previous landlord and employment references?Do I have your permission to conduct a credit check?Are you comfortable with providing a security deposit for $X?Do you plan on living with roommates?Here's a full list of questions landlords need to ask their tenants. Explore the resources below for more tenant pre-screening questions and tips: Quick Guide: Tenant Screening Questions FOR RENT Podcast: Tenant Screening Questions Video: How To Prescreen Your Tenants Using SingleKey Previous Next How to screen tenants in six steps To learn how to screen tenants effectively, follow the six-step process below.Disclaimer: SingleKey only provides information for landlords and property owners. We do not interpret it. The onus is on landlords and property owners to exercise the proper due diligence when reviewing available information and making an informed decision.Step 1: Conduct a thorough background and criminal record checkScrutinizing a tenant’s personal history will help avoid those likely to default on rent payments, engage in reckless behaviour, initiate conflict, and cause damage to your property. You can find a plethora of information online about a tenant by accessing various social media sites and public databases, including court documents. If you have prior written consent from your potential tenant, you may also want to obtain a police records check, especially if you have reasonable cause to be worried about the safety of other residents in shared spaces. Pro tip: Many landlords overlook this step, but it’s essential. This critical process will dictate the course of the tenancy for years to come.Step 2: Run a detailed credit checkAnalyzing a renter’s credit score and credit report will allow you to determine how likely they are to pay rent on time. In Canada, credit scores range from 300 to 900—the higher the score, the better. Using a credit report, you can review an applicant’s credit history, which includes details about their payment habits, the type of debt they carry, the size of their monthly debt payments, and details on bankruptcies.Pro tip: To ensure the information you receive is accurate, relevant, and up to date, always obtain a credit report personally from a trusted third party like SingleKey rather than the tenant. With today’s technology, a dishonest tenant can easily alter or forge a credit report.Reading a credit report can be daunting, but we make the process a breeze with our comprehensive, easy-to-read Tenant Report. Here's a sample of SingleKey’s Tenant Report to see what it has to offer.Step 3: Verify income and employmentIt’s vital to confirm that the tenant earns a steady income and has a stable job. Otherwise, they may struggle to make timely rent payments. Verify their income and employment by requesting a recent pay stub, and if needed, several months of bank statements. You can also assess their ability to handle rent payments by calculating their rent-to-income ratio. While there are no exact rules for an acceptable figure, a widely used rule of thumb is 30%.  Pro tip: Avoid contacting the employer using the contact details provided in the rental application. Instead, verify an employer’s contact details by searching online and using that information when reaching out.Step 4: Review their rental historyLook into the tenant’s previous rental addresses to gain insight into their past tenancies. For example, do they switch rentals within a year or usually remain at one location for a prolonged period? A tendency to swap properties frequently and in haste is a potential red flag, as it could indicate the tenant may have been evicted at some point or violated their lease agreement. Be sure to verify that the period of past tenancies matches what’s on the rental application, as well as the identity of previous landlords.Pro tip: Check with your local landlord association to see if a property owner has previously reported a tenant for a transgression. Accessing public court records can also help you discover any disputes filed by a landlord against the tenant. Step 5: Confirm the references providedReferences carry weight only if you can confirm they’re genuine, so you must contact each one the applicant provides. Reach out to their place of work and speak to someone who can verify their employment and impart details about a tenant’s behaviour and reliability. Exercise the same due diligence by contacting landlord references. By inquiring with a previous landlord, you can learn whether the applicant was a dependable, trustworthy, and respectful tenant. Pro tip: Whenever possible, contact multiple landlords to assess a tenant’s character objectively. In some cases, the landlord may have broken the lease agreement with the tenant for an unlawful reason, damaging their reputation in the process.Step 6: Interview the tenantThe final step is to invite the prospective tenant for an interview. Use the meeting as an opportunity to get answers to any lingering questions and address any remaining issues. You can keep the discussion informal and friendly, but pay careful attention to how the tenant responds to your questions, including their body language. Go with your gut feeling: if something doesn’t feel right, it could be a sign of a red flag you previously overlooked.Pro tip: Become familiar with local tenant screening laws prohibiting landlords from asking tenants certain questions. Asking unnecessarily intrusive and discriminatory questions may result in legal trouble for you. Download the tenant screening checklistAnd that’s the entire tenant screening process! For a quick reference guide, be sure to download our tenant screening checklist, which covers each of these steps.Common tenant screening mythsIf you’ve only recently become a landlord, you may find the tenant screening process a bit overwhelming. And it doesn’t help that numerous myths about the process abound. Let’s debunk some of the most common tenant screening myths together:Myth #1: You should always reject a tenant with a bad credit score.Never refuse a tenant purely based on a poor credit score. Always take a holistic approach when vetting them so that you can see the bigger picture. For example, the tenant may have recently emerged from bankruptcy and has since recovered financially with a stable job—but you won’t know these details until you ask them.Myth #2: You’re legally entitled to run a credit and criminal record check on a tenant.As a landlord, you only have the opportunity to run these checks, not the right. You must obtain the tenant’s written permission to pull their credit report. Regarding criminal records, you can only request one if it’s necessary to protect your interests and only with the tenant’s written permission.Myth #3: You can disqualify a tenant if they fail to provide their Social Insurance Number (SIN).You cannot turn down a tenant because they decline to provide you with a SIN on the rental application. Demanding a SIN constitutes a breach of privacy, so specify that providing it is optional.Myth #4: A tenant who can pay rent on time is all that matters.While financial stability is a definite asset in a tenant, there are other criteria you need to consider before offering them a lease agreement. The ideal tenant should keep your property tidied, do their part regarding seasonal maintenance, and respect their neighbours’ privacy.Myth #5: Verifying one reference is enough.It’s never wise to rely on the words of one employer or landlord when assessing a tenant’s personality, habits, and behavioural traits. Always contact multiple sources to get around potential bias from a reference, whether positive or negative.Our final thoughtsScreening a tenant is not the most exciting part of being a landlord, but it’s the most vital. Choosing the right tenant will reward you with steady rent payments, a well-cared-for property, and a positive landlord-tenant relationship.Tenant screening can be daunting, but only if you lack a well-defined process with precise goals. First, pre-screen applicants by asking basic questions about their rental needs and preferences. Then, narrow your pool to those who have potential and follow our tenant screening checklist.Ensure you obtain sensitive documents, like credit reports, from a trusted and reliable third party like SingleKey to eliminate the risk of receiving a fraudulent copy. Our Tenant Report includes a comprehensive credit report, public document scan, criminal record check, and social media review, all in one easy-to-read document. Once you sign up, you can download your report in just five minutes.Get a SingleKey Tenant Report --- ### A Landlord’s Guide to Rental Verification [A Landlord’s Guide to Rental Verification](https://www.singlekey.com/en/ownerkey/tenant-screening/a-landlords-guide-to-rental-verification/) Date: March 21, 2022 Author: SingleKey Content: What Is Rental Verification? Rental verification is the process by which a landlord gathers and authenticates their prospective tenant’s rental history. This gives landlords the opportunity to converse with their applicant’s previous landlords to learn more about their experience with their tenants. A rental history report would include a list of previous addresses of the tenant along with the contact information of their previous landlords. It’s important to take the time to personally call and communicate with previous landlords and verify the accuracy of the rental application, while also getting greater insight into the tenant’s previous landlord interactions. How To Verify A Tenant’s Rental History Step 1: Determine Personal Expectations Before screening prospective renters, it is important for landlords to determine realistic criteria and expectations of their tenants. Landlords must personify their ideal tenant and what they deem acceptable from a tenant’s rental history. Some questions to ask yourself before screening tenants include: Will you accept a tenant who has a history of late payments?  Will you accept a tenant who has a criminal history? Will you accept a tenant who doesn’t have rental history? Step 2: Request Tenant Application When landlords find prospective tenants, one of the tenant’s first steps is to complete a rental application. Landlords must remember to obtain consent to run a background and credit check and collect personal information from the prospective tenant. Remember: Rental history is a tenant’s private information, so it is unethical to contact their previous landlords without getting consent. Step 3: Contact Landlord References During this stage of the rental history verification process, landlords would reach out to their prospective tenant’s previous landlords to ask for their experience of renting to the tenant. Some questions to ask the prospective tenant’s previous landlord include: Why is/did the tenant’s leave your rental property? How long did the tenant live at your rental property? Confirm rental amount and payment history Overall experience renting to the tenant Did the tenant give proper notice before leaving the property? Have they received any complaints about the tenant from the neighbours? How well did the tenant communicate rental needs (e.g., maintenance, rent delays, etc.)? Step 4: Confirming Details with Tenant After speaking with the tenant’s landlord references, landlords can then compare the information provided by the tenant with the details shared by the previous landlord. Landlords will now have a better understanding of how ideal the prospective tenant is and if they would like to proceed with renting the property to them. What If The Tenant Doesn’t Have Any Rental History? In some cases, prospective tenants may not have any rental history. Although they would not have any landlord references, first-time renters can provide documents to prove that they’re in good financial standing and are capable of keeping up with their rent payments.  First-time renters can provide the following documents to prove strong financial health: Proof of Income Credit Report Find The Right Renter, Everytime Rental verification helps landlords make the right decisions when choosing who to rent to. A tenant’s rental history and landlord references can provide an accurate forecast of how the tenant will behave in the future. Landlords must perform their due diligence to ensure the prospective tenant is the right fit for their rental. SingleKey’s Tenant Report allows landlords to require previous landlord references from their prospective tenants. When requested, previous landlords can answer a short survey as part of the Tenant Report Process to help guide the screening process. Order Your Tenant Report --- ### Why You Should Make Your Rental Pet-Friendly (and How) [Why You Should Make Your Rental Pet-Friendly (and How)](https://www.singlekey.com/en/ownerkey/product-marketing/why-you-should-make-your-rental-pet-friendly-and-how/) Date: March 1, 2022 Author: Logan Zloty Content: When done right, creating a pet-friendly rental does not have to come with damages and stress. Plus, fewer families will have to choose between their beloved pets and a place to live. There can be many benefits to renting to pet owners, and each provincial Residential Tenancy Act lays out the rights and restrictions available to landlords. If you’re a landlord considering renting to pets in your rental properties, here are some benefits, tips and provincial regulations on renting with pet owners. What Are The Benefits Of Renting To Pet Owners? Create Higher Demand With  A Larger Pool of Tenants Pet-friendly rentals aren’t widely available, and many landlords legally can and will refuse to rent to pet owners. Advertising your rental as pet-friendly can significantly increase potential tenant interest and shorter time on the market. Attract Long-Term Tenants Since it can be hard to move places with pets for several reasons, most tenants will be more likely to renew a lease. Additional Rent and Deposits While it is illegal for a landlord to charge a “pet rent” in Canada, having a pet-friendly rental can allow landlords to ask for a higher amount of rent. Depending on the provincial regulations, landlords can impose additional pet fees, either a one-time payment or a monthly fee or both. If stated in the provincial Residential Tenancy Act, landlords can also request an additional refundable pet damage deposit. Attract Responsible Tenants Owning pets isn’t cheap. In Canada, pet owners can expect to pay $3,724 yearly for a dog and $2,500 for a cat. Responsible pet owners tend to be accountable tenants, and if they take care of their pets, it gives reason to believe they will also take care of the rental. Since pet-friendly rentals are not easy to find, it provides more incentive to respect the property. Before Seeking Tenants​ Pet-Proof Your Rental Ensuring your rental property is appropriate to host a pet might be the best bet to save yourself from more wear and tear damages in the future. Consider replacing the carpet in busy rooms with flooring like hardwood or tile, which are easier to clean and disinfect. Tenants may also bring their own area rugs or mats to provide protection from wear and tear. When deciding on new paint colours for the walls, make sure to purchase easy-to-wash paints like high gloss finishes. Comply With Your Provincial Residential Tenancy Act Each province and territory in Canada has a Residential Tenancy Act, which lays out the rights and responsibilities of both landlords and tenants. While deciding whether or not to allow pets into your rental, it’s essential to understand what the law states in your province. Most of the provincial Residential Tenancy Acts cover the landlord’s rights to refuse tenants based on having pets, enforce a no-pet policy within a lease agreement, and request pet deposits or pet fees. Decide What Pets You’re Willing To Allow If your province allows landlords to impose restrictions on the types of pets, consider what pets would be appropriate in your rental unit. It’s perfectly fine to be picky with the kind of animals you’re comfortable renting to. Landlords should research pets and breeds best-suited to the type of unit they own. For example, some of the best dog breeds for small condos and apartments are Boston terriers, bulldogs, and pugs.Some provinces don’t allow landlords to choose how many pets a tenant can have in a household. If it’s not stated in the Residential Tenancy Act, contact your city or municipality to check for local by-laws. Include a Pet Policy In Your Lease If you decide to rent to pet owners, it’s important to include a pet policy within your lease agreement. A pet policy should go over your expectations for pet care and obligations, liabilities, and enforcements for the tenants if they own pets. The policy should lay out all rules the landlord wishes to have regarding renting to tenants with pets. Ensure the pet policy follows your province’s Residential Tenancy Act, or it may not be enforceable. Sample pet addendums for rental agreements can be found on the Humane Society’s website. While Screening Tenants With Pets Ask For Proper Identification, Licenses, and Vaccinations Requiring valid identification, licenses, and vaccinations allows landlords to ensure everything is up to date and gives the notion of applicants being responsible pet owners and possible tenants. Pet licensing regulations can be found in your city municipal by-laws. Require That All Dogs/Cats Be Neutered Most responsible pet owners will have their pets neutered as it’s typically vet-recommended. Studies show having pets neutered helps cut down on potential messes and improves the general attitudes of pets. Landlord References It’s always recommended to seek previous landlord references when screening tenants. Especially when screening tenants with pets, speaking with their current landlords may be a great way to understand the pet itself better and any incidents that may have occurred. Questions you may ask previous landlords include: Does the previous landlord consider the tenant a responsible tenant and pet owner? Were the pets well behaved and well cared for? Did any other tenants or neighbours complain about the tenant’s pet? Did the tenant’s pet cause damage to the property in any way? Tenant Insurance Some policies may cover damages caused by pets within their liability coverage. If the tenant’s dog bites and injures a person, the insurance company may cover that situation. If the tenant’s pet causes extensive property damage and the landlord sues for damages, the insurance may cover the cost. Requiring tenants to have coverage over liability can help landlords recover damages caused by the pets. Pet Damages Deposits In some provinces, landlords have the right to request a refundable pet damage deposit used to cover any damages caused by the pet. If no damages occur other than normal wear and tear, the landlord must refund the deposit at the end of the tenancy. It is legal for a landlord to request a non-refundable pet fee either upfront, monthly, or both in certain provinces. These fees are to cover either maintenance or other potential future costs. Interview Pets With Tenants Meeting the tenant’s pet before making a decision could give a landlord better insight into the general characteristics of the pet. Consider some questions to ask the tenant regarding their pet: How long have you had your pets? How often will your pet be left alone, and for how long? How often do you walk/exercise your dog? Will you have a dog sitter/walker? Do you have someone to care for the pet while you’re away? Are there any known behavioral or medical issues, and what’s the current treatment? Are your pets housebroken? How well does your pet get along with strangers? While Renting And At The End Of The Tenancy Perform Annual Property Review It’s always best to check for yourself if any damage has been caused by pets. In cases of extensive damage, landlords can recover the costs or file an eviction order. If you refuse to allow pets in your rentals, it can be a good idea to follow up that there are no breaches of the lease agreement. If so, in provinces that allow the enforcement of “no pet” provisions, the landlord may take action to request the pet be removed from the rental unit, or the tenant can face eviction. Evicting A Tenant Due To Their Pet If the provincial act allows “no pet” provisions, a landlord can take action upon tenants who have pets in the rental unit. Landlords must give proper written notice of eviction for a breach of the lease agreement and provide reasonable time for the tenants to remove the pet from the property. If the tenants do not remove their pets from the property, the landlord can proceed with the eviction process. In provinces such as Ontario, “no pet” provisions are void and not enforceable, even if included in the lease agreement, and the landlord cannot evict tenants for having pets. However, this is only provided that the pet is not causing damages, disturbances, allergic reactions to other tenants, or a breed inherently dangerous, which could all be a reason for a landlord to evict. If a tenant’s pet caused extensive damages to the rental unit, the landlord could serve an N5 based on damages. Returning Or Claiming The Refundable Pet Deposit If the provincial Residential Tenancy Act allows landlords to charge a refundable pet deposit, both the landlord and tenant should inspect the property for damages at the end of the tenancy. The pet deposit can only be used to cover the damages caused by the tenant’s pet. If the damages exceed the deposit amount, the landlord may claim the rest against the security damage deposit or the tenant if damages exceed both amounts. Once the tenancy ends, the landlord must refund any unclaimed amount from the pet deposit to the tenant. Deadlines for the landlord’s time to return the deposit can be found in your provincial Residential Tenancy Act. Rent To Pet-Owners With Ease Pet-friendly rentals don’t have to be a burden on the landlord. There are many benefits to renting to pet owners, from having more applications to receiving more rent. Following our tips on renting to pet owners could help you manage your pet-friendly rental without the stress of excessive damages and liability. With over half of Canadian households owning a pet, it may be time for more landlords to consider welcoming their tenants’ furry friends. Quickly Screen Tenants With Pets Our tenant pre-screenings with credit and background checks allow tenants to provide landlords with descriptions and photos of their pets. Order your Tenant Report today and learn more about who’s moving into your rental. Order a tenant report --- ### Why is my credit score different on SingleKey? [Why is my credit score different on SingleKey?](https://www.singlekey.com/en/ownerkey/tenant-screening/why-is-my-credit-score-different-on-singlekey/) Date: January 3, 2022 Author: SingleKey Content: The Real Reason Why Your Credit Score Is Different When you run your report through Equifax, what you receive is something called the FICO Score, which is a model that’s mainly intended for your own educational use. The FICO Score is also used by large institutions to determine risk and is only one of many score models used by lenders. The score you receive through SingleKey, on the other hand, is called the Equifax Risk Score, or ERS 2.0. Both the FICO and the ERS 2.0 are popular and legitimate scores powered by Equifax’s data, but because the two models factor in different information in their calculations, they will produce slightly different results. Equifax Risk Score (ERS 2.0) The Equifax Risk Score is a risk prediction tool that evaluates a your economic behaviour. It forecasts the likelihood of you going more than 90 days delinquent within the upcoming 12 months.  Click here to learn more about what is considered to be a good or bad tenant credit score.  FICO Score (Fair Isaac Corporation) The FICO Score is another metric that lenders use to determine the likelihood of  you repaying your debt. It takes a look at  your financial history and looks for consistency. FICO Scores are calculated based on: payment history, credit utilization, length of credit history, credit mix, and new credit. The Canadian average FICO Score is 650 – 700. Where does your FICO credit score compare to others? <em>Remember: both credit score ratings are typically within similar ranges. If there is a variance of 100+ between one’s credit score on both scales, there is a chance that either one has been altered.</em><br> Why Are There Different Credit Score Models? Through Equinox alone, there are more than seven different proprietary score models. All of them are true reflections of your credit score and shouldn’t be compared in terms of “accuracy.” Each of these models weigh your data and information differently, which is why they result in different scores. The varying score models are used by different institutions depending on their needs. In addition to scores mainly used to educate, there are also score models based on lending criteria. What your bank will look at when deciding your credit limit or issuing a new card, for instance, will not be based on the same score model as your mortgage lender. This is why SingleKey’s tenant report, in addition to weighing a tenant’s financial health through the ERS 2.0 credit score, also considers other factors specific to the rental process. Final Thoughts If you’re looking to compare your credit score across different platforms, always ensure that you are using the same scoring model. Additionally, because your scores are constantly being updated, make sure that you’re comparing these scores at the same time. As the credit bureau’s model receives live information, it’s likely that your credit score today won’t be the same tomorrow. Now that you have a better understanding of SingleKey’s credit score model, you can get started on running your own tenant credit check – it only takes five minutes! If you have more questions about your tenant report or understanding your credit score, don’t hesitate to get in touch with our team of experts to clear up any confusion. Contact us today           --- ### Podcast: SingleKey’s Founder & CEO on Reducing Investment Risks and More [Podcast: SingleKey’s Founder & CEO on Reducing Investment Risks and More](https://www.singlekey.com/en/ownerkey/investments/podcast-singlekeys-founder-ceo-on-reducing-investment-risks-and-more/) Date: December 22, 2021 Author: SingleKey Content: In discussing the pain points that SingleKey targets, Mr. Lika touches on the risks behind the residential leasing process, and how landlords and property managers can better handle the varying risks involved. He stresses that, in selecting tenants, landlords can do their part to reduce risk upfront by leveraging SingleKey’s thorough tenant reports, customizable questionnaires to potential tenants, and auto reference checks. On top of helping landlords choose the right tenants for their properties, Mr. Lika finds that, especially in this COVID climate where landlords experience higher vacancies, lower rent, and stressful evictions, SingleKey’s Rent Guarantee can significantly help cover mortgage(s) when they’re faced with delinquent tenants. Since its foundation in 2017, SingleKey has been a great help to smaller landlords who don’t have access to big budgets and help. But, as Mr. Lika explains in the podcast, SingleKey’s innovative features also provide enterprise solutions for landlords with more properties to manage. The episode also touches on SingleKey’s many positive customer reviews, with Mr. Lika expanding on SingleKey’s priority to support customers every step of the way with caring team members, a live online chat, plus a 1-800 number if customers ever run into any issues. Going into 2022, SingleKey recently launched the first free rent collection service for Canadian landlords, a win-win service that automates monthly rent payments while helping tenants improve their credit scores, giving them incentive to pay their rent on time. Check out the podcast for more details on current rental market trends and how landlords can cope with delinquencies and evictions, even in a time of uncertainty. Listen to the podcast   --- ### SingleKey’s Charity Highlight: Inn From The Cold [SingleKey’s Charity Highlight: Inn From The Cold](https://www.singlekey.com/en/singlekeys-charity-highlight-inn-from-the-cold/) Date: December 14, 2021 Author: SingleKey Content: Beyond providing shelter and hot meals, their 8-week self-discovery program, “Getting Ahead in a Just-Gettin’-By World,” offers participants employability training, job site mentorship, and a wage for community work to help them achieve financial stability. What’s more, their “Stability Now” transitional housing program helps people find affordable rentals with wrap-around support, including a case manager and group activities. In 2020, the Stability Now program saw an 80% success rate in transitional housing, all thanks to the hard work of local communities and volunteers. Their mission began in the winter of 2004, when Mayor Tom Taylor received a call asking where a homeless person could stay when the emergency shelters were filled due to extreme cold temperatures. This led to the opening of a warming center at the Old Town Hall, where people could get hot beverages and a warm place to stay for nights when temperatures dropped below -15C. At the start, the warming center was mainly supported by 25 Town of Newmarket employees who volunteered their time. Soon, word spread, and Inn From The Cold began to expand their services to reach more people in need of help. Fast forward to 2020, Inn From The Cold is now the combined effort of over 250 volunteers. This past year, they successfully: Registered 5,853 shelter stays Prepared 25,851 meals Welcomed 2,500 drop-in visits Distributed 1,015 articles of clothing Housed 30 individuals Clocked 6,432 volunteer hours It is all thanks to the support of partners and volunteers that Inn From The Cold has been able to fulfill their mission of providing shelter, dignity, and safety for those in need throughout the York Region. SingleKey’s “The Giving Season” Initiative This year, SingleKey is proud to join their efforts with our holiday campaign, The Giving Season. With the help of our customers, we’re raising $15,000 for Inn From The Cold and providing housing support for 187 people. Learn more about our initiative and how you can help If you’d like to get directly involved with Inn From The Cold, visit their website for information on volunteer opportunities and more. It’s time to share our warmth. More about the initiative   --- ### Safe Ways to Spread Cheer to Your Tenants and Community (Plus, Free Holiday Cards!) [Safe Ways to Spread Cheer to Your Tenants and Community (Plus, Free Holiday Cards!)](https://www.singlekey.com/en/ownerkey/tenant-relationships/safe-ways-to-spread-cheer-to-your-tenants-and-community-plus-free-holiday-cards/) Date: December 8, 2021 Author: SingleKey Content: Guarantee Someone Else’s Housing This HolidayKeep your communities in mind as you prepare for the season. To help keep everyone safe and nourished, SingleKey has partnered with Inn From The Cold, a local organization that gives housing and warmth to those who need it most.In Canada alone, more than 235,000 people experience homelessness every year. Together with Inn From The Cold, SingleKey is providing them with safe places to stay during these coldest months. We need your help!From December 10th, 2021 to January 15th, 2022, our team will donate 10% of proceeds from every Tenant Report purchased, plus another $100 for every new sign-up of our Rent Guarantee. Our goal is to donate $15,000 to Inn From The Cold and give housing to 187 people for five whole nights.Read more about this initiativeSend Your Tenants or Landlord a Holiday Card (Free Templates Below)The power of words is especially potent around the holidays, especially when we still have to be mindful of safety and social distancing. Thank your tenants for their support and friendship this year with thoughtful messages written just for them. Have an amazing landlord? Show them how grateful you are!Download our free holiday card templates below and personalize them with your own holiday greetings. Remind them they can count on you for any emergency holiday requests and beyond.=Download our printable holiday cards --- ### The Landlord’s Guide to Online Rent Collection [The Landlord’s Guide to Online Rent Collection](https://www.singlekey.com/en/rent-collection/the-landlords-guide-to-online-rent-collection/) Date: October 22, 2021 Author: SingleKey Content: Finding the best tenants is the first step to running a thriving rental business. Ensuring they pay their rent on time is the next. And while collecting rent may seem like an easy and mundane duty on the surface, it can prove to be challenging once you begin collecting rent from your tenants. Depending on how many rental properties you own and how much you charge, you could be responsible for handling large sums of cash or numerous cheques. The task can be tedious and stressful: money can go missing, cheques can get lost in the mail, etc. Even the slightest mishap can lead to big mistakes that hurt your bottom line. One way to eliminate some of the headaches associated with this monthly task is to collect rent from your tenants online. In this article, we’ll highlight the advantages online rent collection offers and why it’s ideal for landlords. And we’ll also cover the different ways you can go about setting up your digital rent collection system. The Key Benefits of Online Rent Collection Online money transfers play an increasingly vital role in facilitating financial transactions. Landlords across the country have embraced the opportunities to employ fast, reliable, and safe methods to collect rent from tenants online. Here are some reasons why online rent collection trumps traditional offline methods. 1. You Have Access To A  Paper Trail Cash is a risky payment method to collect rent from tenants. The reason is that you receive no document that functions as proof of payment. Similar problems can arise with cheques. You’ll have no way of knowing whether or not your tenant sent payment in the first place. An online payment platform reduces the risk of lost rent payments in transit and disputes with tenants over unpaid rent. And you’ll have every receipt at your fingertips to keep track of rental income for accounting and tax purposes. 2. You Save Time And Effort The amount of time and effort you can save by collecting rent online from tenants is perhaps its most appealing benefit. Online platforms automate every step (or most) of the rent collection process. As a result, there’s no need to travel to your rental properties to gather payment directly from tenants. And no need to wait for days or weeks for cheques to arrive in your mailbox nor make multiple trips to the bank to deposit them. By streamlining your rent collection, you also gain more time to focus on other aspects of your rental business. 3. You Minimize The Risk Of Late Payments Have you ever called up a tenant to ask for their rent payment? How often do you hear them say, “I forgot to write a cheque,” or discover that they mailed it out one day before the due date? Ensuring timely rent payments can be challenging and cause undue stress for landlords. Thankfully many rent collection services offer preauthorized automatic deposit (PAD). This payment technology enables you to collect rent in your bank account without initiating phone calls, emails, or texts. Once the system is in place, it runs on auto-pilot. You can also set up additional PADs to collect other types of payments: Utilities Damage deposits Charge-backs Late fees 4. You Gain Flexibility Online rent collection platforms offer numerous tools to help you better gather, track, and manage your rent. Depending on the software’s features, you may be able to: View rent payment status in real-time and receive instant notifications  Set up recurring payments Change payment due dates Skip or delay next month’s rent for tenants who request an extension Cancel rent collection once the lease ends 5. You Build Stronger Relationships With Your Tenants Implementing online rent collection can help develop a stronger landlord-tenant relationship. By disassociating yourself from the rent collection process, you can have much more friendly and relaxed conversations with your tenants, which helps to cultivate trust and openness. This means they’ll be more likely to contact you if something in the rental units needs to be fixed or looked after. Is Collecting Rent Online Safe? Financial security is crucial regardless of how you gather rent from your tenants. The last thing you want as a landlord is to have your rent money stolen or go missing. Conducting rent collection online removes many of the risks associated with the offline world. By avoiding cash and cheques, you significantly reduce the chance of funds getting lost in transit or being the victim of fraud. It’s also better security for the tenant. If they send a cheque, it could get lost in the mail, and since their banking details are on the cheque, they risk having it exploited by thieves. Online rent payment services and other electronic payment systems are designed to keep your transactions safe and secure. Payments are encrypted to ensure the funds aren’t lost or compromised by thieves. However, each platform differs in the level of privacy and protection it offers. Thus, you’ll need to do some research to understand the risks and benefits. Four Ways to Collect Rent from Tenants Online Direct Deposit Direct deposit is a form of bank-to-bank electronic payment transfer. Most people are familiar with it since it’s how they receive payment from their employer. Essentially, the payee provides the payer with their banking information to receive the funds directly into their bank account. However, setting up direct deposit can be a struggle – and it’s not entirely safe. It requires your tenants to sign up for online banking, and you must provide them with your banking information to receive payment. The latter requirement can impose privacy and financial security risks. Direct deposit isn’t worth setting up to collect rent from only one or two properties. However, it can be suitable for landlords with ten or more tenants. E-Transfer E-transfer enables your tenants to set up automatic payments. And unlike direct deposit, you don’t need to divulge your banking details to them. They only need your email address to send payment. The process is similar to paying bills; it’ll only take your tenants a few minutes. Once payment has arrived, you’ll receive an email notification. You can then click on the link in the email, which will transfer you to your bank’s login screen. Upon logging in, you can accept the deposit. Most of Canada’s large banks offer E-transfer as a free service. Check out these links for more bank-specific information.       TD       RBC       CIBC       Scotiabank       BMO While E-transfer is fast and reliable, it’s also susceptible to fraud and payment errors, which can be difficult to reverse. Peer-To-Peer Money Transfer While many peer-to-peer (P2P) money transfer apps exist, not all are available in Canada. For example, you cannot connect Venmo, Zelle, and Apple Pay to a Canadian bank account. So, if you want to use a third-party P2P, PayPal is one of your only options. PayPal was the original peer-to-peer (P2P) payment platform, so most tenants will be familiar with it or even have an account. The app is easy to navigate, and most payment types are free of charge. A notable drawback is that receiving the funds in your bank account takes more time than direct deposit and E-transfer. First, you’ll have to wait for the rent payment to arrive in your PayPal account. Then you’ll need to transfer the amount directly to your bank account. The whole process can take a week. In addition, PayPal doesn’t offer many features or much in the way of flexibility. You cannot set auto-reminders for tenants, customize payment options, etc. Property Management Software Rent collection software caters precisely to landlords’ needs. It streamlines most aspects of the rental business: tenant screening, accessing credit reports, advertising rental properties, and rent collection. To set up online rent collection, your tenants typically provide you with their banking details, which you can then use to set up PAD payments. Property management software provides a broader array of features compared to other apps and platforms. These can help you better track payments, customize tenant payment options, set up reminders for upcoming rent, issue late payment notifications, etc. The only downside is that it may be too expensive to justify if you run a small rental operation. For Fast, Safe, and Flexible Online Rent Collection, Choose SingleKey As part of our Rent Guarantee for landlords, we offer landlords and property owners pre-authorized debit (PAD) services at no extra charge. This add-on service complements the Rent Guarantee program, which ensures landlords receive their monthly rent when tenants encounter 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 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. Say goodbye to the hassle of dealing with cash, cheques, and money transfer apps! [Learn More About Our Rent Guarantee] Final Thoughts Offering tenants fast, easy, and reliable methods of online rent payment can go a long way to ensure they pay you on time. Ensure you specify how tenants should send rent payments in your lease agreement. It’s also wise to include more than one option to give your tenants some flexibility in case they experience issues sending payments. Try SingleKey’s Tenant Credit and Background Check report to add an extra layer of security to your payments. Our detailed metrics will help you find a high-quality and reliable tenant for your rental property. Free rent collection tool for landlords --- ### What Are The Requirements For A Legal Basement Apartment In Canada? [What Are The Requirements For A Legal Basement Apartment In Canada?](https://www.singlekey.com/en/ownerkey/product-marketing/what-are-the-requirements-for-a-legal-basement-apartment-in-canada/) Date: July 27, 2021 Author: SingleKey Content: If you answered “yes” to these two questions, you’re in luck! You have an excellent opportunity to earn a nice side income by becoming a landlord. Basement apartments are an increasingly popular rental option for tenants. And with some creative work and prudent planning, you can capitalize on the demand.  According to a Canada Mortgage and Housing Corporation (CMHC) study, over 15% of houses in Toronto have basement rental units. The study also notes that basement apartments are more prevalent than alternatives like laneway homes and second-floor suites. Their popularity is partly due to cities encouraging their development to address rental shortages and steep home prices. Despite their lucrative income potential, renting out your basement isn’t something you can do on a whim. There are specific requirements you must meet before you’re allowed to convert it into a rental unit.  In this article, we’ll walk you through the rules for setting up a legal basement apartment in Canada. What Are the Rules for Legally Renting Out Your Basement Apartment? Making your basement rent-ready isn’t as simple as putting new drapes on the windows. In fact, you could unknowingly be breaking the law if you’re already renting out your basement. According to a survey by Square One Insurance, about 17% of all secondary suites in Ontario, Alberta, and British Columbia are illegal. Each jurisdiction has specific rules and regulations that determine whether a basement suite is legal. By failing to adhere to the minimum legal requirements, a basement apartment can present a substantial risk. And not just to its occupants but to the community at large.  Your basement apartment must comply with local: Zoning laws Building codes Fire codes Electrical safety standards Zoning Bylaws Each municipality has zoning criteria determining whether you can legally convert a basement into a rental unit. Depending on your home’s location, your city may not allow you to operate a basement apartment in the first place. For example, the city of Nelson in British Columbia allows basement apartments only in areas classified as R1, R3, and R6 zones. In addition, your home’s lot size must be a minimum of 276 square metres if it’s in an R1 zone.  Building Codes Building codes encompass a wide range of health and safety requirements established by your municipality: Floor area and ceiling heights Entrance doors Bedroom windows Plumbing Ventilation Heating  You’ll need to closely follow your local building code regulations to ensure any renovations you do are legal and safe. Fire Codes This category covers fire safety, including smoke alarms, fire separation between units, and exits to escape a fire. For your basement suite to be deemed safe, your municipality may require a Fire Prevention Officer to conduct an inspection and issue a safety certificate. Electrical Safety Regulations Your existing electrical service must be able to handle the extra load generated by your new basement apartment. A licensed electrician can determine if your current configuration is adequate or not. You may need to add an extra electrical panel (and possibly an electrical meter) if it’s insufficient. However, before performing any electrical work on your property, you’ll need to obtain an electrical permit from your province. There are also other factors you need to consider, some of which are easy to overlook. For example, is there enough space on your driveway for your tenant to park their car? If not, you’ll need to find out if parking in the street overnight is legal in your neighbourhood. In addition, you also need to account for the excess garbage your home will produce and potential problems with water draining into the basement. Getting The Right Permits To convert your basement into a rental unit, you’ll need to get, at minimum, a building permit from your municipality. To obtain one, you need to submit an application form that typically includes the following details: Site plan with your home’s address and drawings showing the building, parking spaces, and basement suite entrance location Floor plan of the basement suite that indicates all dimensions, ceiling heights, plumbing fixtures, etc. Fire separations between units Photographs of the exterior of your home Elevation drawings (if you’ll be altering the outside of your home) Engineer-stamped drawings (if you’ll be making changes to the structure of your home) Depending on the size and scope of your project, you may need to obtain additional permits for heating, plumbing, fire, gas, and electrical work. The 13 Basic Requirements for a Legal Basement Apartment Now that we’ve covered the basics, it’s time to go in-depth. Below, you’ll find the 13 basic requirements you’ll need to follow to rent out a basement apartment.  Remember, the requirements may differ based on where you live, so verify your municipality’s regulations before you list your property on rental sites. You may need to do some serious renovations! The property must be at least five years old. You cannot alter the front of the house in a way where it no longer resembles a one-unit building. The basement must be smaller than the rest of the dwelling. The minimum ceiling height must be 6’5” and continuous. Suspended (T-bar) ceilings and exposed joists aren’t permitted. Also, the furnace room ceiling must be dry-walled or plastered. The doors in the basement suite must be made of solid wood or metal, with a minimum thickness of 1.75”. Interior doors must have a half-inch gap at the bottom to allow for sufficient air movement within the unit. Exterior doors must be at least 32” x 78.” The windows must be a minimum of 18” in size and their opening at least 600 sq in. In addition, all windows must be within 3’ of the ground, and if there’s a window well, it must extend at least 3’ to allow a person to crawl out. The bathrooms must have either windows or fans. The basement suite must have a refrigerator and a functioning stove. The cupboards must have a capacity of at least four cubic feet multiplied by the number of persons occupying the unit. You must obtain a building permit before you begin construction. Plus, you may need to provide a parking space on your property for tenants. Typically, if the main dwelling has a parking space, it’s mandatory for the basement suite to have its own parking space, too. You must install and maintain smoke alarms. Depending on the bylaws, a smoke alarm may be necessary on every floor, including those with a bedroom. The alarms must be audible when bedroom doors are shut. Carbon monoxide detectors are required in buildings equipped with a fuel-fired appliance or an attached garage. An electrician must conduct an electrical inspection of the basement apartment. Any deficiencies must be fixed before a tenant moves into the unit. Once the review is complete, you must retain the letter of compliance issued by the electrician. You must present this letter to the chief fire official in your municipality upon request. A continuous fire separation with a minimum Fire Resistance Rating of 30 is required between each dwelling unit and other areas of the property. A lower Fire Resistance Rating may be acceptable if your property has interconnected smoke alarms or sprinkler protection. The basement apartment must provide a means of escape in the event of a fire. Two means of escape are necessary if one leads to the main dwelling unit. Adequate soundproofing is needed between dwelling units. The minimum sound transmission class rating is STC 50. source: thefutureyouwant.ca Final Need Some Help Renting Out Your Basement Apartment? Singlekey Can Help Converting your basement into another living space sounds like a lot of work, right? Obtaining the essential permits, performing renovations, and adding sleek furnishings can take considerable time and effort. But the benefits a basement apartment offers can pay off handsomely.  In February 2022, for example, the average rent for a one-bedroom basement apartment in Canada was $1,400.  An extra source of income like this can bolster your monthly budget. You can pay off credit card debt, enlarge your savings account, or book an extra vacation at your favourite resort. If you’re looking to list your brand new basement apartment soon and start earning some passive income, be sure to contact us. We have the expertise and resources to help get your rental unit up and running and find a high-quality tenant. Learn about our rent guarantee program --- ### The Top 3 Tenant Screening Services in Canada [The Top 3 Tenant Screening Services in Canada](https://www.singlekey.com/en/ownerkey/tenant-screening/the-top-3-tenant-screening-tools-in-canada-singlekey-vs-naborly-vs-rentcheck/) Meta: Here's how SingleKey, RentCheck, and FrontLobby rank as the top tenant screening services in Canada based on key features in credit and background reporting. Date: July 16, 2021 Author: Logan Zloty Content: Choosing a great tenant can save landlords from a lengthy and troublesome eviction process in the future. That’s why screening tenants is so important. Tenant screening services are available to assist landlords through this screening process by providing comprehensive reports on rental applicants. Using a tenant screening service helps landlords consider multiple tenants quickly and find the perfect match for their rental property. When choosing from the top tenant screening services in Canada, it’s important to understand what information is needed to screen tenants properly. The data provided in tenant screening reports can vary based on the service provider you use. Although these services can all provide a landlord with useful information, the level of detail, additional features, and price can differ.Ranking the top tenant screening services in CanadaSingleKeyWith results provided in less than 5 minutes, SingleKey offers a comprehensive tenant report that is easy to understand. It includes a full Equifax report with tradelines and records of bankruptcies and collections, as well as a background check, court record search, social media scan, and income and employment verification. SingleKey offers a number of other free tools: A pre-screening tool that landlords can use before running a credit check to help narrow down the number of applicantsPre-filled leases after you approve a tenant (available in ON, BC, and AB, with more provinces coming soon). A free Rent Collection tool to help manage your monthly rent paymentsTeam accounts that enable property management teams to stay connected For an additional cost, SingleKey also provides a Rent Guarantee Program that helps reduce the risk of renting by covering rent payments—even if your tenant stops paying.With SingleKey, there are two ways to order a report: you can either send the applicant an invitation through the platform so that they enter their own information and upload any supporting documents. If you already have the individual’s information and consent, you can also enter the tenant's information. Tenant reports cost $24.99 per report, and there are no subscription fees. There is also an option to have the tenant pay for their report when you send them an invite.RentCheck RentCheck is an established tenant screening service that has been around since 1976. They have several membership levels, with a $75 annual membership fee for the basic individual membership, and non-refundable, one-time fees for a credit card account setup ($29.95) and an invoicing account setup ($59.95). Members of approved associations may have the annual fee waived.     RentCheck’s credit reports for landlords start at $38, which gets you a report from Equifax or TransUnion with tradelines and other financial details, as well as the applicant’s tenancy history. Other reports can be added for a cost, including criminal records checks and PeopleTrace, which “tracks, monitors and locates individuals intentionally evading debt-repayment or legal authorities.”FrontLobby FrontLobby is another provider that offers a tenant screening service. They offer an Equifax credit report along with a background check that you can order separately or as part of a package. FrontLobby also provides other services, such as rent reporting to credit bureaus and a debit reporting tool, which can help landlords collect rent debt from a past tenant.FrontLobby’s reports vary in price depending on the membership plan you sign up for. Their basic plan allows you to get the tenant screening bundle (credit report and background check) for $24.99, but you’ll only get one support email a month. With the premium plan, the tenant screening bundle costs $18.99, but there is a monthly fee of up to $30.50 per month. To access many of FrontLobby’s resources, tools, and unlimited support, a paid membership is required.Key features that matter most for landlordsSo, how do you decide which tenant screening service is best? Here are the key features that will help you streamline the rental application process and improve how you screen potential renters.Detailed credit reportInformation is power: a valuable credit report is one that contains everything you need to know to make an informed decision and choose the right tenant. If you only have a credit score though, you’re not getting the full picture of an applicant’s financial stability. Will the individual make rent payments on time? Are there any missed payments on the applicant’s credit accounts? Without these critical details, you could end up choosing the wrong tenant.Fast credit checksToday’s competitive rental market, combined with the backlog of cases in key tribunals, requires landlords to consider rental applicants quickly and carefully. To avoid potential tenant issues, it’s important to choose a tenant screening service that’s fast and thorough. A provider that can deliver an applicant’s credit score in less than an hour is incredibly useful in helping you make your decision.Reporting that’s easy to understandHave 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 easily understand it.Most credit reports are written for lenders, not the average landlords. The most useful screening reports have key metrics, like rent-to-income ratio and monthly debt payments, spelled out in clear terms so that you have the information you need to to pick the perfect tenant.Streamlined rental application processImagine having rental applicants complete an application by hand and then having to input all of that information online to receive a tenant screening report. Now picture doing that for dozens of applicants. If you’re looking to save time, automate the rental application process. By having prospective tenants complete their application online rather than by hand, you’ll simplify the entire rental application process. Extra support with tenant issuesOne of the biggest fears as a landlord is that you’ll have a tenant who refuses or is unable to pay their rent. After all, you’ll still be expected to make your mortgage payments even if you aren’t receiving regular rent payments. That’s why a tenant screening service that also offers a rent guarantee program is an asset. You’ll have some financial support to cover unpaid rent when unexpected issues arise. Responsive customer serviceSome customer service departments leave a lot to be desired. You can wait days for an answer or never receive one. When you need help, a responsive support team that can walk you through any issues in a timely manner is a key differentiator when looking for the best tenant screening service. Our final thoughtsCanadian landlords have many great options when finding a tenant screening service to fit their needs. Many of the providers use different levels of membership plans to cater to different needs. SingleKey is the only tenant screening provider that offers a detailed, reliable, and easy-to-read report that’s ready in minutes. There is no subscription plan required with SingleKey, and all users get access to their free tools and resources. Learn more about the benefits of using SingleKey and start screening tenants more efficiently. --- ### Landlord’s Guide: How to Recognize Tenant Red Flags [Landlord’s Guide: How to Recognize Tenant Red Flags](https://www.singlekey.com/en/rent-guarantee/landlords-guide-how-to-recognize-tenant-red-flags/) Date: June 25, 2021 Author: SingleKey Content: Still, that doesn’t mean that an individual with a series of blemishes on their rental application will necessarily cause you grief as a tenant. Nor does it imply that a renter with a cheerful demeanour and squeaky-clean background will be a perfect tenant.  For example, in a recent Toronto ruling, a tenant was convicted on three counts of fraud for failure to pay rent. Landlords had no reason to believe he wouldn’t honour his payment obligations due to his impeccable attire and respectful attitude. Some called him a “professional tenant.” Unfortunately, when it came time to pay his rent, he refused.  For this reason, and many others, knowing how to spot tenant red flags is an invaluable skill to master as a landlord. We’ll discuss the best ways to uncover these warning signs below. Let’s get going! Singlekey’s 4 Ways to Discover Tenant Red Flags 1) Ask for Tenant Details (and Get Them on Record!) The rental application is your first line of defence against low-quality tenants. When you meet a prospective tenant for the first time, provide them with a rental application to fill out that covers the basics, including: Name  Current address Photo identification Job history Proof of monthly income Three to five years of rental history  Once they submit their rental application form, you should first take note of any sections left blank. An incomplete application is the first red flag to look for, especially concerning income and employment history. Follow up with the applicant to determine why they left out specific details. Next, you must verify whether the rental application information is correct. Proper documentation, such as bank statements and pay stubs, can help validate it, but be aware that it’s possible to forge almost any paperwork. For further confirmation, contact the applicant’s current employer and landlord. If you discover that their work and rental history don’t align with what’s on the rental application, that’s a red flag. For example, by speaking with prior landlords, you may learn of tenants’ troublesome behaviour toward their neighbours. A fact like this is a huge red flag and should set off alarm bells. One unruly tenant can dissuade others from renting nearby units, resulting in a lower income for you if you own multiple units in a single building.  Finally, consider the applicant’s overall circumstances. Ask yourself if the information provided indicates a stable and responsible individual. For example, scattered work history and lack of a steady income are red flags to watch for. A credit check can reveal tenants’ financial situation, which can help you predict if they can manage to pay their rent. By examining a tenant’s credit history, you can gain insight into their payment habits, the type of debt they carry, how often they use credit, and more.  2. Always Perform A Credit And Background Check A credit report riddled with late payments may indicate a pattern of poor money management, which increases the chance of them missing rent payments. Similarly, the presence of payday loans and other high-risk debt points to a tenant strapped for cash and desperate for credit. You must first obtain the applicant’s permission before accessing their credit report. If they’re unwilling or hesitant to grant you permission, you should view the response as a red flag. They may have something to hide that’s problematic, like a delinquent account that a creditor shut down for non-payment. In addition to a credit check, a general background check can also unveil troubling details about an applicant’s past. For example, a tenant with several recent convictions involving violent crimes or drug offences is a definite red flag. They could be dangerous to you and your neighbours, so never take these details lightly. Manually gathering information about a candidate’s background and finances is crucial, but it’s also tedious and time-consuming if done manually.  With SingleKey’s Tenant Report, you can access all these vital details on your computer or phone in just a few minutes. The easy-to-read report offers a wide range of metrics that will enable you to screen your tenants effortlessly, including a comprehensive Equifax credit report. Our credit and background check reveals a treasure trove of information about tenants, such as Records of rent payments  Accounts sent to collections agencies Bankruptcies  Past-due accounts Credit score Social media scan Public document scan from over 200,000 databases  None of these details will provide a definitive answer about the quality of the tenant in question. However, they’ll help highlight many red flags you may otherwise overlook. 3. Never Rush To Fill A Vacancy When renting a property, taking one’s time is necessary to ensure things go smoothly and you make the right decisions. Doing proper due diligence is essential, which also applies to tenants. Typically, tenants begin searching for rental properties six to eight weeks before their current lease ends. If a tenant wishes to move into your unit immediately, you should view their eagerness with suspicion. It could indicate upheaval, a lack of thought and planning, or something even more severe. Not surprisingly, this behaviour is a major red flag if you’re looking for a dependable and responsible tenant. Similarly, if an applicant moves around frequently, they could be a poor choice for a long-term tenant. Of course, they could have legitimate – even urgent – reasons to relocate, so you shouldn’t disqualify them based on this one red flag alone. It’s important to put things in context. However, it does mean you should be on the lookout for other red flags, just in case. 4. Trust Your Gut As a landlord, you can make shrewd observations about tenants through interactions with them in person, online, or during a phone conversation. Let’s say a tenancy applicant arrives late to a property viewing or repeatedly fails to reply to your texts or emails. You guessed it – it’s a red flag. Similarly, you can learn much about an applicant’s personality when interviewing them. Are they providing you answers that are convoluted, drawn-out, or vague? Do they seem comfortable when speaking to you? Are they rude, demanding, or condescending? If you answered “yes” to these questions, the applicant could be trouble. If an applicant seems dishonest, there’s a good chance they are. For this reason, it’s not wise to accept a credit report directly from a tenant – it could be fake. You should always obtain one on your own. As you can see, finding a good tenant is a lot of work. Of course, the savviest landlords avoid the extra stress and time required to vet tenants. Instead, they choose professionals like Singlekey to handle tenant screening. Our Tenant Red Flag Rundown Okay, so we’ve gone through lots of potential red flags. Here are some questions to ask as you decide on a tenant. Key Takeaways Does the applicant’s basic information match your research? Do previous landlords or employers speak highly of them? Does the credit and background check seem healthy? Are they willing to move in at a reasonable time and date? Do I feel good about the applicant in general? Spotting Tenant Red Flags Easily With Singlekey By following the steps above, you’ll have more success in landing high-quality tenants. But, even with so much information and resources at your fingertips, there are no certainties.  One day, you can wake up and discover that your tenants have no money to pay their rent because they lost their job – or maybe lost it by day trading stocks. Or perhaps they’re causing severe damage to your property and threatening other tenants.  Perhaps the most troublesome situation resulting from taking in a problem tenant is eviction. The eviction process can be messy, tiresome, and costly (check out our eviction calculator to see how much you can expect to pay). That’s why we created the SingleKey Rent Guarantee program. By signing up, you’ll receive monthly compensation for lost rent, no matter your tenant’s financial situation. You’re covered for up to 12 months of rent, to a maximum of $60,000. And should you have to evict your tenant, we’ll reimburse for up to $1,500 in legal fees, too!  Learn more about the Rent Guarantee program and how it can shield you from catastrophic losses to your rental business. Get a tenant background check --- ### Long Term vs. Short Term Rental: What’s Right for You? [Long Term vs. Short Term Rental: What’s Right for You?](https://www.singlekey.com/en/ownerkey/investments/long-term-vs-short-term-rental-whats-right-for-you/) Date: June 3, 2021 Author: SingleKey Content: What’s The Difference Between Long-Term And Short-Term Rentals? A short-term rental is a residence that provides accommodation for people looking to stay for a few days to one month, on average. This type of rental property is also referred to as a vacation rental since it primarily appeals to travellers. The short-term rental niche has enjoyed impressive growth during the last decade, capturing market share from traditional hotel chains. A significant contributor to this surge is the rise of online vacation rental platforms like Airbnb and Vrbo, which connect property owners with travellers seeking accommodation on their getaways.  Long-term rentals are properties that cater to those tenants looking to stay for an extended time, usually longer than six months.  A variety of residences serve as long-term vacation rentals: apartments, condos, townhouses, and detached homes. Commercial and industrial also fall under the category of long-term rentals.  In most cases, property owners require tenants to sign up for at least a fixed, one-year lease, though some allow periodic tenancy. In the latter case, tenants commit to a lease on a month-to-month basis. Short-Term Rental Pros 1. You Can Earn More Money. A short-term rental property can generate a very lucrative income, especially if people rent it for a week or two at a time. You can command high rates easily if your property is also in a popular tourist spot. For example, if you own a condo that sits along a beach, you can increase your rates liberally during the summer months, when demand soars. 2. You Can Also Use The Property Since your guests will only be staying for a brief period, you have the convenience and flexibility to set aside time to use the property for yourself. If you want to go on holiday or spend the long weekend with your friends or family, you simply reserve the block of time in your calendar for personal use. 3. You Can Limit Some Of The Renting Risks Being a landlord of a long-term rental can be financially rewarding, but it also comes with risks that can hurt your bottom line and cause you stress. Two issues frequently arise in long-term rentals: tenants who fail to pay their rent and tenants who cause severe damage to the unit. However, these unpleasant scenarios are more avoidable if you own a short-term rental property. The risk of travellers reneging on payment is low, as they’ve likely already accounted for this expense in their vacation budget. Plus, their commitment isn’t ongoing. And since your guests will occupy your rental unit only for a brief period, there’s less chance of them damaging it significantly. Short-Term Rental Cons 1. Your Rental Income Can Fluctuate. Your rental income may vary widely with a short-term rental property. At times, you’ll be booked for months in advance, but there’s also the possibility that your unit will remain vacant for part of the year. 2. You’ll Spend More On Cleaning Costs With a higher turnover rate, you can expect to dish out more money to keep your rental unit tidy and presentable. Every time a tenant moves out, you’ll need to get your hands dirty and thoroughly clean your rental. The resulting expenses can easily hurt your bottom line, even if you outsource the work to a cleaning company. 3. You May Need To Hire A Property Manager Because you’ll be renting your property to new tenants frequently, you must repeatedly check your appliances, sinks, and toilets to ensure they function perfectly. No one will want to rent a home with a broker refrigerator or one rife with plumbing issues. So, you’ll have little choice but to conduct such inspections or risk garnering a slew of negative reviews. You’ll also need to continuously market your rental, deal with questions and complaints from tenants, and adjust your rates to ensure you generate a profit at year-end. Not surprisingly, you can find yourself overwhelmed quickly. The only solution may be to hire a property manager to attend to these day-to-day tasks. However, doing so can significantly inflate your expense budget. The higher turnover of guests ensures the property manager will be far busier, keeping your rental in top shape. Thus, you can expect a hefty bill from them each month. Long-Term Rental Pros 1. You’ll Earn Steady Income The primary benefit of a long-term rental is predictable and reliable income, usually for at least a year. As a result, you can better ensure your property’s financial security and further scale your rental operation by acquiring more units. 2. You Might See Fewer Maintenance Fees With a low turnover rate, your rental will demand much less time, effort, and money when it comes to maintenance. You won’t need to pay a cleaning company to tidy up your property too often, as your tenants will likely remain living there for a while. 3. You’ll Have Fewer Responsibilities There’s far less work involved in successfully managing a long-term rental property than one that caters to short-term guests. You won’t need to constantly market your property, monitor your listings on rental websites, perform tenant credit and background checks, draft lease agreements, perform inspections, etc. At most, you may need to perform these tasks only once per year, should your tenant choose not to renew their lease. Long-Term Rental Cons 1. You’ll Have Less Flexibility In Adjusting Your Rental Rates When you rent out your property for the long term, the rent price you set must remain fixed for the period specified in the lease agreement. While this ensures a consistent and reliable income, you forego the ability to increase your rate until the lease agreement expires. As a result, you won’t be able to adjust your monthly rent to cover a sudden spike in your operating costs. Nor can you increase it to capitalize on a surge in demand for rental spaces in your location. 2. Your Tenants Will Live In Your Rental For A Long Time Depending on the types of tenants you have living at your property, they could spur endless headaches and sleepless nights for you. Problem tenants can: cause severe damage to your property neglect their cleaning responsibilities, engage in petty quarrels with neighbours routinely miss rent payment deadlines To help you avoid troublesome tenants, SingleKey offers a thorough yet easy-to-read Credit and Background Check. Our screening report gives you the information you need to feel comfortable with who is living in your rental property. As a landlord of a long-term rental, you’ll be able to exercise less control over your property. The tenant will have more rights when they occupy your property than if they lived in a vacation rental. As a rule of thumb, you’ll need to treat your tenants as though they’re the rightful owners of the property. For example, you can’t simply show up unannounced to conduct an inspection – you must provide them with written notice. Further issues can arise if you need to kick out a tenant. Each province has specific laws and procedures you must observe concerning eviction. The entire process can be cumbersome and drawn-out and cost you a considerable sum in legal fees, court fees, etc. Try our eviction calculator to see how much you can end up paying. Key Takeaways Short-Term Rental Pros Potential for big financial gains You can use the property as well Limit some risks of renting Short-Term Rental Cons Income can fluctuate month to month Higher cleaning costs May need to higher property manager Long-Term Rental Pros Earn steady income Fewer maintenance Fees Long-Term Rental Cons Rental rates are locked in Harder to evict bad tenants Short-Term vs Long-Term Rental: How To Decide Which Option Is Right For You There’s no easy answer when choosing between a short-term and long-term rental. Both types offer their share of advantages and disadvantages. But, you may find that you naturally prefer one of the other once you evaluate each on various factors. Before arriving at your decision, you should consider your budget, your profit targets, and the amount of time and effort you’re willing to dedicate to maintenance, repairs, and tenant interactions (and arguments, too!). Suppose you prefer a hands-on approach, enjoy the day-to-day tasks of managing a rental property, and don’t mind periodic fluctuations in your income. In that case, you should opt for a short-term rental.  Let’s say your goal is to generate consistent income over many years. And, you wish to avoid the hassle of constantly searching for tenants, doing paperwork, and fixing clogged sinks. In this case, you’d be better off with a long-term rental. Whether you rent out your property for three months or three years, one thing hinges on your success or failure more than anything else: the quality of your tenants. Choose the right one, and you’ll earn a steady income for years to come, trouble-free. Choose the wrong one, and you find yourself in court, desperately spending time and money in an attempt to evict them. A thorough background check can help you find perfect tenants for your property. Book a call to learn more about SingleKey’s Tenant Credit report for landlords. Learn About Our Rent Guarantee Program --- ### What Should Landlords Look for in A Tenant Credit Report? [What Should Landlords Look for in A Tenant Credit Report?](https://www.singlekey.com/en/ownerkey/tenant-screening/what-should-landlords-look-for-in-a-tenant-credit-report/) Date: May 14, 2021 Author: SingleKey Content: In today’s competitive rental market, being a landlord requires diligence, attentiveness, and savviness, especially when selecting who’ll be living on your property.After all, the last thing you want to experience is endless quarrels with your tenants about unpaid rent and having to serve and enforce a slew of eviction notices!In your quest to separate the risky tenants from the safe ones, it’s always wise to perform a credit check on each applicant. It’s a foundational component of the tenant screening process. It’ll pay for itself over time by helping you identify quality candidates – one that’ll make rent payments like clockwork.While these checks provide valuable insight into prospective tenants, even seasoned landlords can overlook crucial details. Thus, it’s always worth reminding yourself of the items to look for when evaluating credit reports. That way, you can quickly pinpoint the red flags, as well as easily identify a solid tenant.SingleKey offers an excellent way for landlords to screen tenants via our Tenant Credit & Background Check. We’ve helped landlords across Canada screen and verify thousands of prospective tenants, providing valuable details that make renting a far less risky and hassle-free experience. To help you learn how to read the SingleKey tenant screening report, we’ll review the top 5 tenant credit check metrics.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: 6 Key Tips1. Know the Difference Between Poor, Good, and Great Credit ScoreThe first indicator you should review is the applicant’s credit score. This financial metric measures their creditworthiness or the riskiness of lending money to them. In Canada, credit scores range from 300 to 900, with the average hovering around 630.Though primarily used by lenders, a credit score is also valuable data for landlords. It paints an accurate picture of a tenant’s history with credit and how responsible they are when it comes to payments.In Canada, two private firms assign credit scores to individuals: Equifax and TransUnion. Both organizations collect and store borrowers’ credit data and incorporate it into complex scoring models to calculate their scores.Here’s a breakdown of what components go into a credit score and the relative importance of each.If an applicant possesses a high credit score, they handle debt responsibly and make timely payments. Naturally, this is a favourable attribute, as they’ll have little or no trouble paying their rent on time.On the other hand, a low credit score indicates the applicant has a history of poor debt management and is more likely to default on the payment obligations. As a result, you should think twice about offering them tenancy, as they may fall behind on their rent easily.Since the average Canadian has a credit score of 630, you should review rental applicants with scores below this number with greater scrutiny. A credit score below 500 likely stems from an excessive debt load, numerous missed payments, or a recent bankruptcy, suggesting a high-risk applicant.SingleKey uses an Equifax ER 2.0 score to create an accurate profile of a tenant’s financial health. Here’s a snapshot that shows what you can expect from each report:While a low credit score doesn’t mean that a tenant will be delinquent on rent, we can safely assume that a tenant who fails to pay their bills on time is more likely not to pay their rent on time.2. Assess the Tenant’s Payment HabitsAs a landlord, you want tenants who’ll diligently keep up with their rent payments, so you want to take a peek into their payment history.Lenders report consumer debt payments to Equifax and TransUnion whether they’re late, on time, or missed entirely. Thus, all will have an impact on an applicant’s credit report.Specific sections of our report that relate to an applicant’s payment history include:Past due amount – the amount they owe on a particular credit account(s).Payments 30/60/90 – the number of times they made a payment late by 30 days, 60 days, and 90 days.Payment status – shows whether they’re current or behind with their payments.Last payment – shows the date of the last payment made.3. Identify The Type of Debt Of Debt The Tenant OwesAnother critical detail on our credit report is the type of debt an applicant is responsible for servicing. While an immense debt load of any type can be troubling, it’s essential to understand that not all debt is equal. Some debt products are inherently riskier than others.High-Interest DebtHigh-interest debt comes with greater risk because the tenant can quickly become overwhelmed with interest charges and struggle to make timely payments. Lenders typically charge high interest rates on loans where the borrower has not pledged an asset as collateral.Examples include credit cards, payday loans, and unsecured lines of credit.Low-Interest DebtLow-interest debt poses much less risk for the tenant. Since they accrue few interest charges, making debt payments is more manageable. In addition, an asset typically secures these loans, which provides an extra layer of security should the tenant default.Examples of low-interest debt include mortgages, home equity lines of credit, and auto loans.4. Tally Up the Tenant’s Monthly Debt PaymentsCredit reports outline the number of regular payments a person has to pay towards an auto loan, credit card, cell phone, etc. It’s important to review these monthly payments because you can determine what percentage of the applicant’s income goes toward covering recurring expenses and bills.For example, in SingleKey’s sample credit report, the “Payment Term Amount” shows how much the applicant must pay, and the “Narrative” explains the frequency of paymentsNaturally, the higher their debt burden, the greater the chance they’ll encounter issues making prompt payments, which increases your risk as a landlord.For example, suppose an applicant earns a pre-tax income of $3,000 per month but pays $1,000 in credit card and car loan payments every month. In that case, they’ll have little funds left over to cover rent and living expenses.5. Calculate The Rent To Income RatioIt’s important to know if an applicant can afford to rent your unit. Thus, you should examine their monthly income and determine what percentage would cover rent. Luckily, SingleKey’s tenant credit report calculates the rent-to-income ratio for each applicant, so you won’t have to worry about crunching the numbers yourself.Evaluating tenants’ rent-to-income ratio allows you to gauge affordability. If an applicant earns $3,000 per month but is applying to rent a unit that costs $2,000 per month, that’s a red flag. Many landlords prefer to rent to tenants with a rent-to-income ratio no higher than 30%. This figure is a good rule of thumb to keep in mind when deciding whether or not to consider a particular applicant.However, studies show that the 30% threshold is not attainable for many individuals. As a result, it’s not uncommon for landlords to accept 50% or higher rent-to-income ratios. Still, our data shows affordability is one of the top predictors of tenant rent default. If tenants spend more than 50% of their income on rent, they risk having insufficient funds to dedicate to rent payments. In this scenario, unexpected expenses or job loss would cause the tenant to stop paying rent. Thus, it’s wise to be patient and seek out tenants with ratios closer to 30%.We also suggest going one step further and using the (rent + debt payments) to income ratio. With this formula, you combine the tenant’s monthly debt obligations and rent to better grasp how much they can afford.6. Focus on Derogatory MarksA derogatory mark is a negative item on a credit report that has significant long-lasting financial repercussions for an individual’s credit standing. Here are some scenarios that can cause one to appear on an applicant’s credit reportTheir credit card provider issued a charge-off on a past due balanceThey filed for bankruptcyA creditor has sent their account to a collection agencyA creditor has repossessed their home or car due to a default  Derogatory marks can remain on individuals’ credit reports between three and seven years, depending on the nature of the item and the province in which they reside. While they happen, it’s important to put things in context and ask the right questions should you spot them on an applicant’s credit report.1. What was the amount owing?The amount owing is crucial in determining how detrimental the outstanding payment is to the applicant. A small write-off isn’t as big of a concern as a large one2. How old is the default?A bankruptcy that occurred five years ago is not as ruinous as one that happened recently. The more years that have passed since the bankruptcy, the less financial strain the applicant is likely under currently.3. What type of debt was it?If a collections item relates to a payday loan, that is much more worrisome than if it’s tied to an outstanding phone bill.Find The Right Applicant With SingleKey’s Tenant Credit ReportBeing smart with your tenant screening process will drastically cut down on the risks that come with renting. A quality tenant won’t only have a stable income, but a reassuring financial history, so it’s vital to review these details.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. --- ### Want to Learn How to Choose Better Tenants? Watch SingleKey’s Viler Lika Explain How with REIN [Want to Learn How to Choose Better Tenants? Watch SingleKey’s Viler Lika Explain How with REIN](https://www.singlekey.com/en/rent-collection/want-to-learn-how-to-choose-better-tenants-watch-singlekeys-viler-lika-explain-how-with-rein/) Date: March 22, 2021 Author: SingleKey Content: In the interview, we dive into the real costs of evicting tenants, and how SingleKey can really help landlords across Canada deal with one of the most stressful and costly experiences of their landlord journey. Francoeur and Francy bring up some good points as well. They ask how SingleKey determines the worthiness of a prospective tenant and why we never decline tenants based on credit score alone. Some of the questions we answer in the interview are: What sort of expenses does home insurance not cover? How can SingleKey’s Rent Guarantee help you cover eviction expenses? Are the best tenants always the ones with the best credit scores? When is it okay to ask a prospective tenant for a credit check? How detailed should you be with a tenant’s references? The video also includes a detailed rundown of SingleKey Tenant Credit Check and Background Check. Viler explains how landlords can use the information they find here to find the best tenants and to support the gut feeling they may have about a prospective tenant. The tenant screening report goes far beyond a simple credit report. If you’ve been interested in seeing our comprehensive tenant credit and background check in actions, this is a great time to see it explained in detail. You can watch the entire video on Facebook Live below. REIN is a news and resource company that helps thousands of Canadians protect their investments and better prepares them for navigating the challenges of managing a rental property. They offer Canadians unbiased real estate education and advice through webinars, a membership program, and a free weekly podcast called “The Everday Millionaire.” REIN has been featured on CNN, The Globe and Mail, and CTV Canada. --- ### Best Rental Websites for Property Listings in Canada [Best Rental Websites for Property Listings in Canada](https://www.singlekey.com/en/ownerkey/finding-tenants/cost-of-evicting-a-tenant-the-ultimate-guide-for-canadian-landlords/) Date: December 23, 2020 Author: SingleKey Content: However, you can quickly become overwhelmed by the amount of online property rental websites at your disposal. Which one do you select to post your ad?Ideally, you want a platform that allows you ample freedom in showcasing and promoting your rental property. It should also help you attract top-notch tenants as you want individuals who’ll treat your property with respect – and won’t skip out on rent payments! Plus, you don’t want to strain your wallet by overpaying for a listing service, so paying attention to listing fees is a crucial factor to consider.Luckily, we’ve done the grunt work for you by evaluating the best rental websites in Canada and compiled all the essential details and the pros and cons of each. That way, you can better navigate your options and choose the one that’ll provide you with the best exposure for your property listings.Let’s dig in!1. Facebook MarketplaceWith over 27 million Facebook users in Canada, Facebook Marketplace is another excellent place to list rentals. As long as you have a Facebook account, you can post as many free ads as you like, with up to 10 photos and no expiry date (be sure to renew them, though, so they appear at the top of the listings!).  The interface is intuitive and convenient and offers a dynamic preview that changes as you fill out information for your ad. You can also leverage Facebook’s massive network by cross-posting your ad onto your Facebook Timeline, Newsfeed, and various Facebook groups.  Prospective tenants can easily message you through Facebook’s platform, and all correspondence goes into a unique folder separate from your Messenger chats. Each message even links to its corresponding listing and sets reminders! Facebook also provides a nifty security feature that allows you to see each tenant’s profile as a real person. You can also change the status of your listing from Available to Pending or Sold. For tenants, there’s a handy map view that allows them to locate potential listings quickly; however, there are limited filtering options based on listing details. The feature also automatically provides nearby transportation and walking scores for each listing.  Unfortunately, many realtors post fake listings onto Facebook Marketplace in a deceitful attempt to get more clients, which is its primary drawback.Recommended For: Individual Landlords & RealtorsProsDynamic preview that changes as you edit your adAds do not expire The Messenger app organizes your message and allows you to view tenants’ profilesConsHigh volume of fake listings by realtorsLimited filtering options for tenants2. CraigslistCraigslist receives tremendous web traffic, with 13.21 million Canadian visits alone in February 2022. Posting ads is straightforward, with no sign-up or fee required, and you’re allowed up to 24 images. Prospective tenants can contact you through email and other contact information you add to the listing. Each ad expires within 45 days, or seven if the listing is in a larger city.  However, the website’s dated appearance may dissuade tenants and landlords alike from using it to search for rental properties and listing them, respectively. The website, populated with mostly legacy users, resembles those from the early 2000s, and it doesn’t provide the most user-friendly experience. From a tenant perspective, the search and filter functions are awkward, making it difficult and frustrating to sort through available listings. Also, the ad layouts are very disorganized, and listing details are tough to read.There’s little vetting done on Craigslist to ensure each listing is legitimate – you can post an ad without needing to create an account. While convenient, the result is that many fake rental property ads end up cluttering the website. Many landlords also find that the website attracts a considerable number of lower-quality tenants, and many inquiries they receive aren’t from serious prospects.Recommended For: DIY Small LandlordsProsNo sign-up required.No fees to pay to post basic listingsConsTraffic is split between rental ads and other categoriesSince it is easy to post ads, occasional scams can occur Tenant inquiries aren’t always serious3. KijijiWhether you’re a budding Canadian landlord or a seasoned pro, you’re likely familiar with Kijiji, a classified advertising website with massive traffic garnering 46.9 million visitors in February 2020. In fact, it’s the 26th most visited website in Canada! Kijiji offers three different tiers when it comes to posting a property listing:Free: You can post a basic ad with ten pictures. You can only have two ads running simultaneously, and you’ll have to keep reposting them to ensure they appear on top of search results or pay additional money to boost them.$130.95/month: You can post an ad with 20 pictures and an urgent flag. The website automatically bumps them up every seven days.$392.95/month: In addition to the previous perks, your ad receives priority in search results, appearing as a top ad, and you can add a link to your listing.The website offers several features to maximize your ad’s exposure to ensure it reaches as many users as possible. These include posting a second copy of your ad in Kijiji’s homepage gallery, or highlighting it, which displays it against a blue background, so it stands out. Ads generally expire after 60 days.Kijiji has a simple layout, making it easy to list properties. You can even set up virtual viewing features, such as virtual tours or video chats, and check how many people have viewed your listing.  However, the website offers limited search and filter options, so renters may struggle to find their desired listing. Communication between yourself and prospective tenants is done through Kijiji’s inbox, which can get messy if you have multiple ads running. Like Craigslist, Kijiji’s lax vetting can result in fake listings appearing on the website and inquiries about properties that aren’t always serious. As a result, it’s wise to be aware of scams and follow best practices when screening tenants.Recommended For: DIY Small LandlordsProsMultiple tiers and upgrades are available to customize your adHigh website traffic means that your ad is visible to many peopleConsCommunication between yourself and inquiring renters is done through Kijiji’s inbox, which is difficult to manage and organizeThe free tier restricts you to two active ads at a time4. PadmapperUnlike the previous websites, Padmapper is focused only on housing. By signing up for Padmapper, you can showcase your ad to over 464.4K monthly viewers for free. Each ad allows you to post over 20 images, and ads don’t appear to expire.Unfortunately, the platform is not very user-friendly for tenants and landlords alike. As a landlord, you can post a listing only if you download the mobile app – there’s no way to do so on a desktop. Communication with tenants is done through the site’s messaging system.Tenants can freely use a desktop to view listings and filter rentals by price, location, and utilities. A helpful map feature also allows them to explore listings by proximity.However, numerous bugs seem to affect Padmapper’s mobile app, such as the need to log in multiple times before it functions properly.Recommended: Landlords, Realtors, Property ManagersProsSimple to use with no complicated add-on featuresTenants can easily search and filter for listings on a desktopConsCannot post a listing through a desktopMobile app is often difficult to use because of glitches5. Realtor.caAnother option besides posting your listing online is to hire a professional. Realtor.ca helps connect you with realtors in your area who have the knowledge and expertise to market your property effectively and find a suitable tenant. Though the cost varies from agent to agent, most realtors charge a commission equal to one 1-month’s rent if they can close a deal for you.There are numerous benefits associated with using a realtor. As industry professionals, they’ll:Take photos and list your property on Multiple Listing Services (MLS)Hold property viewings on your behalfScreen the applicants and ensure you get a quality tenantSet up your lease agreement with the new tenantTenants can freely use a desktop to view listings and filter rentals by price, location, and utilities. A helpful map feature also allows them to explore listings by proximity.However, numerous bugs seem to affect Padmapper’s mobile app, such as the need to log in multiple times before it functions properly.Recommended: Landlords, Realtors, Property ManagersProsSimple to use with no complicated add-on featuresTenants can easily search and filter for listings on a desktopConsCannot post a listing through a desktopMobile app is often difficult to use because of glitches6. Viewit.caFor $54.95/month, Viewit allows you to post property rental listings to their 378.6K monthly viewers. No account is necessary to post an ad, which expires after one month and enables you to post up to 10 photos.Viewit reviews ads before they go live on the site to ensure each is legitimate. Thus, you can rest easy knowing no one will be reusing your listing information as part of a scam.On the flip side, any edits, changes, or cancellations you would like to make to your listing require contacting their team. Their turnaround time is within a business day, but some landlords may prefer a platform that provides them with more control in modifying their ads.Viewit offers additional paid upgrades to enhance your ad and can even send professional photographers to take photos of your property. Tenants can utilize their map view to view nearby listings or the search and filter functions to narrow it down based on their utility preferences. They can message landlords through Viewit directly.Recommended for: Property ManagersProsVetted postings ensure that the listing information you provide won’t be used to scam othersConsAny changes you wish to make to your listings require contacting their staff, which takes editing and posting out of your hands7. Rentals.caA relatively new rental platform, Rentals.ca averages around 1.5 million monthly views and is still growing. It also boasts a mobile app.Posting requires signing up for an account, and you can select if you want your ad to expire in 15 or 30 days.There are three different ad tiers to choose from:Free: no special perks for listings.Promoted: for $24/15 days or $49/30 days, your listing receives added exposure on the map/list and syncs with Facebook Marketplace and mobile app notifications.Featured: for $124/15 days or $249/30 days, you get top listings and priority, a “Featured” tag, and your ad appears highlighted on the map. This is in addition to all the perks in the previous tier.You need to provide a floor plan and at least two images for each ad. The website allows you to keep track of your listings and their status and even save drafts. Tenants can contact you through the website or the phone number you provide directly on the listing.Rentals.ca reviews and approves each listing, so the website contains very few. Most listings on the website are for apartments/condos.The website provides good search and filter options for tenants, including a map view that displays nearby listings. Each listing also comes generated with a neighbourhood and transportation information.Recommended for: Property Managers and Individual LandlordsProsThe website is easy to use and navigatePostings are vetted, which means very few scam listings appearConsThe company is relatively new, so there’s not as many reviews on it and users have little experience with the websiteThe target market is mostly larger cities and apartment or condosThe Final Verdict: The Best Rental Sites in CanadaBest Rental Websites in Canada by ProvinceBesides the top Canada-wide rental sites we featured above, each province has specific rental websites popular in the region. We highlight some of the best ones below.British ColumbiaRentBoard (415K visitors per month)RentBoard has an ad credit system where you buy a certain number of credits to post your listing. For example, you can purchase 30 days’ worth of credits and use them to list one ad for 30 days, two ads for 15 days, or even 30 different ads for one day each. If you take an ad down early, RentBoard saves them for the next time you decide to post.Point2Homes (5.7 million visitors per month) Signing up for an account on Point2Homes requires approval from their team, and prices vary by region. Real estate agents, property managers, and brokerages primarily use the site.AlbertaRentfaster (1.28 million visitors per month)Rentfaster lets you post an ad for 60 days at $45. Some limitations apply as outlined on their website. Once you’ve found a tenant, you can deactivate the ad and reactivate it for $40 at a later date.RENTcafe (474K visitors per month)RENTcafe is very popular with tenants. However, signing up to post your listing requires multiple steps, including registering with its affiliate company, Yardi, to use their property management software. The website is well-suited for property managers.Immediate Rent (2K visitors per month)Immediate Rent is one of the newest entrants in the online property rental space. What sets them apart from the competition is they allow payments in crypto-currencies (over 200 in total) – the first rental portal to do so. As a landlord, you can advertise your property for free – there are no listing, monthly, or platform fees to pay.OntarioTorontorentals.com (153K visitors per month)TorontoRentals is now part of Rentals.ca, so listings on TorontoRentals will also appear on Rentals.ca and vice versa.Condos.ca (1.9 million visitors per month)Condos.ca boasts a vast database of users looking to rent or buy condos. The site will put you in contact with a realtor/condo professional to help you list your property.QuebecLouer.com (83K visitors per month)Louer specializes in rental units in Quebec and has a French version of their website. It allows you to post listings for free, but your account must be approved before you can use it.Duproprio.ca (5.3M visitors per month)Duproprio is the largest real estate website in Quebec for buying and selling homes and renting out property. They offer three tiers for ads: free, $49.95/3 months, and $199.95/3 months. Each tier differs in the number of weeks you can display your ad on the site and the number of photos of your property you can include.Finding great tenants for your rental property in Canada is one of the hardest things about being a landlord. It’s a lot easier when you know where to list your ads, so finding a reliable and trustworthy website is always a good first step.  If you’re looking to rent out your apartment or home to a quality tenant, SingleKey can help make the process easier, faster, and safer. With our Tenant Credit Check in Canada, you can screen your potential applicants in less than 5 minutes to find the perfect renters for your property.Finding great tenants for your rental property in Canada is one of the hardest things about being a landlord. It’s a lot easier when you know where to list your ads, so finding a reliable and trustworthy website is always a good first step.  If you’re looking to rent out your apartment or home to a quality tenant, SingleKey can help make the process easier, faster, and safer. With our Tenant Credit Check in Canada, you can screen your potential applicants in less than 5 minutes to find the perfect renters for your property.Get your tenant screening report today --- ### Cost of Evicting a Tenant: the Ultimate Guide for Canadian Landlords [Cost of Evicting a Tenant: the Ultimate Guide for Canadian Landlords](https://www.singlekey.com/en/ownerkey/tenant-relationships/cost-of-evicting-a-tenant-the-ultimate-guide-for-canadian-landlords-2/) Date: November 11, 2020 Author: SingleKey Content: In addition, tenants may also become a nuisance, blatantly violate the rules of the lease agreement, or cause damage to your rental property.  Sometimes, negotiating a payment schedule with the tenant for past due rent or issuing a verbal or written warning can solve the problem. But, in some cases, there’s no other solution but to evict them from your property. So how do you go about evicting a tenant in Canada? What does the process entail, and how long will it take to get the job done? And most importantly, how much will it cost you? A. Loss of Rental Income During Evictions The only recourse that landlords have to deal with non-payment of rent and tenants who refuse to leave the unit is to go through the provincial tribunal or court to file for tenant eviction. The problem is that the process of eviction in most provinces suffers mainly from long delays due to a high backlog of hearings. So it takes a long time  to carry out eviction procedures from start to finish. The duration of the eviction process in Canada depends on three things: Statutory Delays A statutory delay is the length of time you must wait before requesting an eviction order through the tribunal or Court to remove a tenant. It varies from province to province. This time frame gives the tenant a chance to pay you any outstanding rent. Once the statutory delay expires, you can apply for an eviction order based on non-payment of rent. How Long Does It Take To Evict A Tenant For Non-Payment Of Rent In Each Province? British Columbia   In British Columbia, a landlord must issue a 10-day notice to end tenancy for unpaid rent when a landlord fails to pay rent by the agreed upon date. Within the 10 days, if the tenant fails to pay the outstanding balance of rent, a landlord must wait the respective 10 days before they can apply to the Residential Tenancy Branch to claim the lost rental income. Alberta   When a landlord wishes to remove a tenant in Alberta, the landlord is to serve the tenant with a 14- day notice to vacate the unit. Saskatchewan   In Saskatchewan when a tenant is 15 days late to paying rent, the landlord has the right to immediately end the tenancy by serving the tenant with an eviction notice. Manitoba   In Manitoba a landlord is entitled to evict a tenant 5 days after the rent is due. On the 5th day, the landlord can ask the tenant to vacate the unit and has full discretion in determining how soon the tenant should vacate the unit. The average amount of time given to tenants to allow them to leave is between 5 and 10 additional days (this is at the discretion of the landlord as there is no guidance on this). Ontario   In Ontario, eviction proceedings take at least 25 days. First, a landlord must issue a Termination Notice (N4 Form) when the tenant is late on rent, then they have to wait 14 days to file an application for eviction (L1 Form) with the Landlord and Tenant Board to evict the tenant. In addition to this initial 14 days, and unlike any other province, there is also a statutory requirement that the landlord must wait an additional 11 days to allow the tenant to either pay the outstanding balance or vacate the unit before the landlord is allowed to hire a sheriff to enforce the standard order. Quebec   In Quebec, the landlord must wait 3 weeks from when the payment was initially due before filing to evict a tenant. Once a tenant is 21 days late, the landlord can then apply to the Tribunal to end the tenancy, remove the tenant, and recover the lost rent. Following the application for eviction after 21 days, if the tenant pays the outstanding balance to the landlord before the Tribunal reaches a conclusion, then the termination of the tenancy is avoided. Nova Scotia   In Nova Scotia, a landlord can only serve a delinquent tenant with a notice after their rent is 15 days late. Further, a landlord must wait an additional 15 days from the date the tenant is handed the eviction notice before the eviction can be carried out, totalling a minimum of 30 days of mandatory wait time before a tenant can be evicted. Prince Edward Island   In PEI, a landlord can issue a notice to evict the tenant as soon as rent is 1 day late. The tenant then has 20 days to vacate the unit. If they manage to pay the outstanding balance within 10 days, then the eviction notice is invalidated. New Brunswick   Similar to PEI, in New Brunswick the landlord can issue an eviction notice to a tenant as soon as rent is 1 day late. The tenant then has 15 days to vacate the unit. Newfoundland and Labrador   In Newfoundland when a tenant is 5 days late in paying rent, a landlord will then serve a tenant with notice that the tenancy has ended, and the tenant then has 10 days to vacate the unit amounting to an average of 15 days for the entire eviction process. Court Delays Court delays refer to the time between issuing an eviction notice to the tenant and when the arbitrator decides on a verdict. This time frame includes delays in scheduling a hearing date and all the arbitration proceedings until a final decision is made regarding the case. British Columbia   In British Columbia, after a landlord files the appropriate 10-day notice to end tenancy for unpaid rent and a tenant has not paid all outstanding rent or vacated the unit, the landlord must then proceed to claim the unpaid rent amount with the provincial tribunal (the RTB). In BC, the tribunal can take 1-2 weeks to schedule a hearing for the two parties to plead their case depending on the availability of arbitrators and their caseload. Following the end of the arbitration, the tribunal will make the final decision within 30 days of the hearing. Alberta   In Alberta, it can take as little as 5 days to as much as 48 days for a landlord to have a hearing scheduled. On average, it takes 25 days after filing a dispute to get a hearing scheduled. Following the conclusion of the hearing, it takes an additional 10 days for the arbitrator to reach a final and binding decision. Depending on the outcome of the possession order, a landlord may further need to wait between 10 to 30 days before they can regain possession of the unit. Saskatchewan   In Saskatchewan, due to the lighter caseload, hearings are scheduled approximately 7 days from when the claim is brought the tribunal. Manitoba   Manitoba’s court system adds an additional 15 days in lost time. This is because it takes approximately 12 days for the hearing to be scheduled. Following the hearing, the arbitrators release the final outcome after 3 days. Ontario   Ontario’s court delays total an average of 51 days. It takes 14 days for the provincial tribunal to schedule a hearing. When the hearing date is set, it is typically scheduled for 4-6 weeks later. Quebec   Similar to Ontario, Quebec’s tribunal system is subject to heavy delays. It can take up to 3 months in some cases for a tribunal to release a final decision. However, on average, it takes 30 days for a final and binding decision to be made. Nova Scotia   For Nova Scotian landlords, it can take up to an additional 20 days to receive a verdict for eviction. This is a combination of delays in scheduling the hearing and waiting for a conclusion by the arbitrator to be reached.  Prince Edward Island   In PEI, the provincial tribunal prioritises eviction hearings over other landlord-tenant disputes. So hearings are scheduled between 7 – 10 days after the landlord brings forth the claim to the tribunal. New Brunswick   New Brunswick boasts the shortest court delay length across Canada. Landlords there face shorter wait times as it takes an average of 5 days for the court to issue their decision. Newfoundland and Labrador   In Newfoundland, after requesting a hearing at the Residential Tenancies, there is an additional 14 day wait before the hearing is conducted. While the average length of delay is 14 days, tenants, in some cases, can have up to 18 days to file an appeal and have the case reconsidered. How Long Does It Take To Get An Eviction Court Order? Sheriff Delays In some cases, you’ll need to hire a sheriff to enforce an Order of Possession or a Court order to remove the non-paying tenant. Naturally, this step will lengthen the eviction process. How Long Does A Sheriff Take To Evict A Tenant? In every province except Ontario, it takes between 1 and 6 days for the sheriff to enforce an eviction.  Due to a backlog of cases in the Landlord and Tenancy Board (LTB), removing a tenant in Ontario takes much longer. As a result, you can expect to wait up to 30 days for a sheriff to uphold an eviction order.  The delay in enforcement is one of the reasons carrying out an eviction in Ontario takes much more time than in other provinces. As the graph below illustrates, the process takes approximately eight times longer than the rest of Canada. How Long Does The Eviction Process Take In Total? It takes between two and three months to remove a delinquent tenant, depending on your province. Ontario has the most prolonged procedural delays in the eviction process, while Saskatchewan experiences the shortest delays. So How Much Rent In Total Can A Landlord Expect To Lose? You can calculate the total amount of rent you can expect to lose during an eviction using the following formula: TOTAL LOST RENT $ = AVG EVICTION TIME (+1 MONTH TO FIND A NEW TENANT) X AVG MONTHLY RENT $ To determine the total cost in lost rent, you’ll need to estimate the monthly average rent and utilities in your province: Besides the loss of regular rent payments, you can expect to spend about one month posting ads, screening applications, and signing a lease with a new tenant. You may also need to include the cost of repairs to your rental unit resulting from damage done by the delinquent tenant.  In addition, you’ll need to tally up all the legal expenses, court fees, etc., you’re likely to incur during eviction proceedings. B. Eviction Legal Costs In addition to lost rental income during the eviction process, you may face thousands of dollars in legal expenses. There are 3 types of legal costs: Legal Fees Legal expenses mainly include the cost of hiring a paralegal to deal with a case on your behalf. Paralegals will file relevant paperwork, handle the eviction hearing, and conduct negotiations that may be necessary throughout the process. Legal Costs For Eviction In Canada In British Columbia, Alberta, Saskatchewan and Manitoba, it costs between $700 and $800 to hire a paralegal to carry out the eviction process.  However, in New Brunswick, Nova Scotia, PEI, and Newfoundland, the average cost ranges from $400 to $500. Unsurprisingly, Ontario and Quebec are the most expensive provinces for legal assistance due to longer eviction processes. In Ontario, legal fees cost $2,000 on average, and in Quebec, they cost $1,000 on average. Court Fees Court fees cover the cost of filing a claim through a Court or a tribunal. Generally, you can expect to pay between $50 and $100. Once again, Ontario remains the outlier, as the cost to file an eviction application with the LTB is $186. Sheriff Fees The cost of hiring a sheriff to enforce an eviction order varies widely across Canada. On average, you can anticipate paying $100 to $200. In Ontario, due to the high demand for sheriffs, a landlord can spend approximately $400 to remove a delinquent tenant. On the other hand, landlords in Newfoundland, PEI, and New Brunswick pay a measly $50 to $75 for the same service. C. Estimated Property Damage Costs Lost rental income is already one of the scariest expenses you can face as a landlord. But it’s much worse if the delinquent tenant causes damage to your unit before vacating it. In Canada, 1 in 6 eviction cases includes a claim for compensation for damages to the unit on top of lost rent. The average landlord claims $1,500 and $3,500 in court against a tenant for property damage  Damages caused by a tenant can substantially increase your financial loss following an eviction, as you must spend money on repairs. You also lose rental income over an extended period since you need more time to make the unit move-in ready for a new tenant.  It can take 1-2 weeks to do simple repairs to the property. You may not be able to recover the total amount in damages through the court system and be forced to cover some expenses out of pocket. What Is The Total Cost Of Eviction? The costs that come with evicting a tenant can be substantial. Over the entire eviction process, you can expect to lose about two months of rental income if you decide to end a tenancy. And this figure doesn’t include, on average, the additional month of lost income before you find a replacement tenant. The average cost shouldered by landlords across Canada is $4,000 to $5,000 in eviction expenses. These costs can even reach $11,000 in more expensive provinces with lengthy processes, such as Ontario. How Do Landlords Protect Their Rental Income And Keep Renting Risk-Free? As a landlord, the first step you should take to protect your rental unit from delinquent tenants is to properly screen them before signing a lease agreement. A solid screening service will provide valuable insight into tenants’ financial history and background. You can then use the information to help you choose the ideal tenant. SingleKey offers a comprehensive Tenant Credit and Background Check that includes a full credit check and a background check with a social media scan. All these vital details are packed in a single report, which you can have at your fingertips in as little as 5 minutes! Dealing with non-paying tenants can be a financial nightmare, even more so if you need to remove them from your property. After all, you become a landlord to earn passive income, not pay a mountain of expenses! If you’re looking for peace of mind when it comes to your rental income, be sure to check out  SingleKey’s Rent Guarantee Program. By signing up, you’ll receive coverage for up $60,000 in lost rental income should your tenant fail to pay their rent. Learn more about our Rent Guarantee Program --- ### How to Screen for Great Tenants [How to Screen for Great Tenants](https://www.singlekey.com/en/ownerkey/tenant-screening/how-to-screen-for-great-tenants/) Date: August 12, 2020 Author: SingleKey Content: 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:  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. Payment Behavior – how often the applicant is late on their debt payments. Poor payment behaviour will be reflected in the credit score.  Credit Accounts Information –  the types of accounts, when they were created, the limits and amounts for these accounts as well as payment history. 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. Type of Inquiry –  hard credit bureau inquiries can negatively impact the tenant’s credit score if done too often; soft inquiries do not. Public Records and Collections – from public court records such as bankruptcies, collections files, convictions and sometimes past eviction judgements. 2. No income, no rent Credit check looks good? Great! 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. Pro Tip: Create a rent-to-income ratio by taking your prospective tenant’s monthly rent and dividing it by their monthly household income. If the rent is over 30% of their income, recognize they are more likely to be delinquent. 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: Tenant’s Full Name Driver’s license or Social Security Number (both optional) Date of Birth Current Address 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.   4. Contact the previous 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?  Pro 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 Ontario Alberta Manitoba Saskatchewan British Columbia Nova Scotia Newfoundland 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. Pro 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. Our final thoughts 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. --- ### When To Offer A Rent Concession [When To Offer A Rent Concession](https://www.singlekey.com/en/ownerkey/finding-tenants/is-it-worth-it-to-offer-a-discount-on-rent-in-order-to-secure-the-ideal-tenant/) Meta: Learn expert tips for landlords on when to offer a rent concession and what other types of concessions attract high quality tenants. Date: March 9, 2020 Author: Mark Gregorski Content: Rent concessions are a powerful tool for attracting and retaining quality tenants. While the immediate impact is a hit to your bottom line, concessions that genuinely help your tenants and make their stay pleasant can set up your rental property for long-term financial success. However, rent concessions aren’t something to hand out liberally. Being too generous can leave you struggling to make a profit while only your tenants reap the benefits. In this guide, we’ll explain what you must consider before adding concessions to your lease and explore situations where they work best.What is a rent concession?A rent concession is a discount or benefit a landlord offers a tenant as part of the lease agreement. One of the most common concessions is a reduced rent fee for a specific period, but it can also include waived security deposits, complimentary amenities, and various other financial incentives. A rent concession can provide a one-time benefit upfront or span the entire lease term.Rent concessions are a tried-and-true strategy landlords use to draw attention from renters in competitive markets, fill vacancies faster, and incentivize lease renewals. If done right, they lead to positive outcomes for the tenant and landlord, making them a win-win component of a lease agreement.When do I offer a rent concession?While rent concessions can positively contribute to your rental business, you should offer them only when it's to your advantage to do so. Before deciding to incorporate a concession or two in your lease, here are some factors to consider.Rental market conditionsIn a market where demand for rentals is weak but scores of properties are available for rent, tenants have the upper hand. They're spoiled for choice and will take time to sign a lease agreement, so properties remain vacant longer. In such a hyper-competitive environment, offering a concession can help your rental stand out and get more attention from renters.When assessing rental market conditions, remember to consider seasonal trends, too. For example, during the winter, demand for rentals drops, as people aren't keen on moving when it's snowing and bitterly cold. However, adding an enticing concession to your lease may spur them to act.Property vacancyHas your property been sitting empty for a prolonged period? If so, you're losing money, as no tenant means no income (unless you have a cushy reserve fund). In this scenario, adding a rent concession to your lease can help you acquire a tenant faster and minimize the financial losses that come with vacancies. Competitive advantageYour rental property must, at minimum, match your competition's selling points to attract a reliable tenant. Suppose the home next door offers one month's free rent and a complimentary Netflix subscription. In that case, consider providing the same or similar incentives in your lease.Tenant qualityLet's say you've interviewed a potential tenant who earns a solid income, has excellent credit, and glowing landlord references. However, they have reservations about your rent price, and you're worried about them seeking other properties. In that case, offering a prorated rent deduction or similar concession may be enough to sway them into accepting your deal. Tenant retentionAdding one or more concessions can encourage your existing tenant to renew their lease. As a result, you'll save time and money on finding their replacement once they move out. So consider brainstorming ideas for concessions as the lease expiration date approaches.Tenant financial hardshipIf your tenant is experiencing financial distress, a temporary rent concession, such as flexible payment terms or reduced rent, can provide much-needed relief. Aside from being a compassionate gesture, incentives like these can help build a positive landlord-tenant relationship. Tenants who are treated with respect and kindness are more likely to take proper care of their rental and stay for the long term.Types of rent concessions for prospective tenantsNow that you know when rental concessions work best, let's explore the different types you can offer to tenants.Free month’s rentPerks like a month of free rent can be very enticing for tenants. Consider adding this sought-after concession to your lease if you urgently need to fill a vacancy—tenants will be motivated to move in quickly to take advantage of the complimentary month.Reduced rentDiscounting your regular rent fee for a brief period, such as two or three months, is a great way to draw more attention from renters, especially when the economy heads south, and money is hard to come by. Alternatively, you can prorate your reduction over the entire lease term.Free parking or storageParking spaces and storage units are scarce or expensive in some residential areas. You can score points with tenants seeking these amenities by providing free or discounted parking spots and storage units.Utilities includedIncluding utilities like water, gas, electricity, cable, and internet with your rent can give you an edge over your competition, especially if utilities are costly in your area. This concession simplifies tenants' rental obligations as they only have one bill to manage and are spared from having to set up the services personally.Lease term flexibilityTo generate interest in your property from a larger pool of renters, consider loosening your lease terms and minimizing lease break penalties. Renters who value flexibility regarding their housing needs, such as local college students, may be more willing to give your rental a chance.Waived feesIn addition to the monthly rent, tenants pay other fees, such as screening costs, security deposits, and pet fees. Consider eliminating or reducing these extra charges. Tenants who are strapped for cash will appreciate the financial relief, as these fees are typically payable upfront before the move-in date.Reimbursement of moving costsBesides being stressful and time-consuming, moving to a new home can cost tenants a bundle. But you can help them make things more affordable by covering expenses like truck rentals and storage units.Property upgradesAsk your tenant to create a wish list of items and amenities they would like to have in the rental unit. For example, if they loathe traveling to a laundromat, consider purchasing a washer and dryer for the property. Improving the living space can enhance your tenants' comfort, convenience, and security, making them more likely to renew their lease.What are the benefits of offering a rent concession?There’s no doubt that rent concessions are advantageous for tenants. But, as a landlord, they offer numerous benefits as well, including the following:Maintaining a competitive edgeFinding a tenant in a crowded housing market won't be easy. It could take weeks or months to fill your vacancy, especially if there's nothing that sets your property apart from competing units. Including one or two enticing concessions will generate more interest from renters, helping you find a suitable tenant faster.Lower vacancy costsAn empty property is one of the most significant risks you face as a landlord. Without rental income to offset your mortgage payments, utility fees, insurance premiums, and other recurring expenses, you can quickly find yourself in the red. Adding a compelling rent concession to your lease can help you fill vacancies faster, helping you maintain a steady cash flow to cover your renter's operating costs.Recurring lease renewalsIf your tenant moves out after their lease ends, you must spend time and money onAdvertising your propertyTidying up the premisesAnswering inquiries from renters Vetting new tenantsDrawing up a fresh rental agreementAnd more.However, you can avoid all those hassles and expenses by offering a compelling incentive for them to stick around. Upgrading appliances, discounting the rent, paying for a streaming service, and other gestures may convince them to renew their lease. Improve tenant retentionTenant retention is a foolproof way of evading problematic tenants. The higher your turnover, the more tenants you’ll see over the lifetime of the property. This will increase the chance of getting a tenant who doesn’t mesh with your management style. If you value your current tenants, provide a concession that genuinely helps them—they'll be less likely to move out.Additional help with maintenance tasksAn often overlooked advantage of rent concession is assistance from your tenant in maintaining your property. While tenants are accountable for keeping the living space clean and doing menial tasks like changing burnt-out light bulbs, the bulk of rental maintenance rests with you as the landlord.However, you can offer your tenant a concession in exchange for taking on additional maintenance work. By doing so, they can enjoy the benefits of the new perk while you have more time to attend to other duties.Positive reputation as a landlordBy offering generous rent concessions, you can establish a positive reputation as a landlord and build goodwill with renters and your broader community. If you treat tenants well, word gets around, resulting in increased referrals, enthusiastic reviews online, and more visibility for your rental, all of which can help you boost your income. What are the risks of offering a rent concession?While rent concessions can be an effective tool for attracting and retaining tenants, they have some potential disadvantages to be aware of:Reduced revenueA rent concession will negatively impact your revenue. If you waive the first month's rent or provide a discount on amenities, that's money out of your pocket. Depending on how high your operating costs are, offering concessions may not be a sustainable strategy for keeping tenants happy.Unrealistic expectationsYour tenant might grow accustomed to your concessions and expect more in the future. For example, if you offer a deep discount on rent, raising it in the future could be problematic, as you risk agitating your tenant. The more accommodating you are with your concessions, the more pressure you'll face to maintain them.Negative perceptionsWhile tenants usually respond favorably to rent concessions, sometimes they can be skeptical of your offering. Discerning tenants might wonder why you're being so generous, fearing that there are issues with the property, hidden fees, or that you're operating a rental scam.Tenant turnoverRent concessions may attract tenants motivated primarily to benefit from them rather than secure long-term housing. Once the concessions end or they find a better deal elsewhere, they may move out. As a result, your turnover rate and the costs that go with it will increase.Legal and regulatory complianceRent concessions may lead to legal disputes with tenants, especially if the terms are vague and complex. You could also be subject to fines and penalties if your concessions violate local residential tenancy laws. Exposure to unforeseen risksA rent concession may be helpful in the short term, but it could cause issues down the road. For example, suppose you waive the security deposit requirement for a tenant who later damages your property. In that case, you'll be responsible for the total cost of repairs once they move out.Pro landlord tips on how to offer a rent concessionPut yourself in your renter’s shoes. When deciding how much to discount off rent, Weigh the benefits, costs, and efforts of moving versus the potential savings of how much is being offered for the rent concession.So, how much would you save to prevent you from moving? Generally, this means $100 or more. Our final thoughtsRent concessions can help you minimize turnover costs, fill vacancies quickly, and retain quality tenants, making them an indispensable tool for ensuring the success of your rental business.However, it's crucial to use rent concessions only when they make practical and financial sense; otherwise, you risk losing money on your property investment or getting stuck with problem tenants who don't appreciate them. So, always put thought and planning into deciding on the type of concession to put in your lease. Consider the needs and preferences of renters in your area, the state of the market, and what your competition offers.Adding an enticing rent concession can grab the attention of renters, but always remember that proper vetting is essential to securing a quality tenant. Find out how to find and secure reliable tenants using tenant screening platforms. --- ### How Can You Ensure Your Tenants Pay Their Rent On Time? [How Can You Ensure Your Tenants Pay Their Rent On Time?](https://www.singlekey.com/en/rent-collection/how-can-you-ensure-your-tenants-pay-their-rent-on-time/) Date: March 9, 2020 Author: SingleKey Content: So why is it so hard to collect the rent on time? Many landlords complain of having to “run down” their tenants in order to make sure that their rent is collected in a timely manner. Is there any easier way to go through the process of getting paid each month? The following are some ideas that many landlords have tried. Collect A Year’s Worth Of Post-Dated Cheques You just might be able to take the whole running-down-your-tenants thing out of the equation if you insist upon being paid in advance. Many landlords ask their tenants to provide them with post-dated cheques. A total of twelve to cover the forthcoming year is generally part of a standard request. Admittedly, this process doesn’t guarantee that enough money will be in the accounts of the tenants who provide the cheques. The last thing you want is for them to bounce. On Landlordology.com, Sara Thompson also points out a couple of other issues that may arise with this method. “Most tenants I know are uneasy about writing 12 post-dated cheques especially to a landlord they just met,” she notes, “ Remember, it’s illegal to cash a cheque before the date mark.” Have A Heart To Heart With Your Tenants Last month, we blogged about the importance of developing and growing the landlord/tenant relationship. Naturally, it makes life a lot easier when you can get along with the people who rent your property. One of the reasons is that it opens the doors for important conversations. Are your tenants going through rough financial patches? Perhaps, you can get to the bottom of why the rent is always late by simply talking it out with your tenants. “Discuss whether changing the payment date or method would help,” suggests GoCardless.com, “For instance, some tenants may prefer to make smaller payments on a more frequent basis. Asking your tenants to set up a Direct Debit or standing order will reduce the chances of them forgetting to make a payment.” Sign Up With Single-Key! We’ll be frank about it. We simply can’t come up with an easier and more effective way to ensure that you collect your rent on time than to enlist our expert services! For a monthly fee, we guarantee that you will receive your rental payments on time. While you are able to sit back, relax and avoid worrying about collecting your money yourself, we offer your tenants flexible payment options that help them find easier ways to get their rents paid every month. And in your worst-case scenario – one where your tenants are unable to pay at all – Single-Key will handle the eviction process as part of the service we provide to you. Enjoy the peace of mind in knowing you’ll never have to worry about running down your tenants for rent money again. Leave it up to us! --- ### 3 Ways To Develop And Maintain Strong Landlord-Tenant Relationships [3 Ways To Develop And Maintain Strong Landlord-Tenant Relationships](https://www.singlekey.com/en/ownerkey/tenant-relationships/3-ways-to-develop-and-maintain-strong-landlord-tenant-relationships/) Date: February 19, 2020 Author: SingleKey Content: Being a landlord is not easy. Depending on the size of your property, you may be responsible for a lot of homes. And you know the old saying: "A man’s home is his castle." Naturally, people put a great deal of care into selecting the places they call home. They need to know that they can trust their property owners to quickly attend to their concerns. Of course, a landlord’s job requires a lot more than property maintenance. The fostering and growing of positive relationships between yourself and the people who rent your property is hugely important. It’s likely you have many different personalities to deal with. But knowing how to manage them all in an effort to bring about high-quality living situations for everyone involved is the key to being a top-of-the-line landlord. Here are three ways to develop and maintain strong landlord/tenant relationships: 1. Screen potential tenants as if they were applying for a job Hiring managers have the tough task of composing job postings, reading resumes and conducting job interviews – all in the name of locating the perfect fits for their companies. Recruitment experts will tell you that expert hiring practices involve a vetting process that seeks to find individuals who mesh well within a company’s culture – not just trying to find people with ample skills and experience. Your job as a landlord should not just entail doing your own background checks on potential tenants, but also include a process by which you gauge the personalities of the people showing interest in your rental property. According to Imperial Properties, “not only does this afford you the opportunity to review a potential tenant’s credit history, references and background, but meeting with your tenant prior to leasing will also allow you the ability to establish expectations for both parties early in your relationship. This helps build trust and understanding from day one.” 2. Be accessible Developing and maintaining strong relationships with your tenants has a lot to do with how much they’re able to trust you. As is often said, trust is the cornerstone of any strong relationship. And a big part of gaining trust is being accessible. Make it known, to each of your tenants, the times that are best to reach you and be sure to provide various methods of contact. “One of the biggest pet peeves for tenants is not being able to get in touch with their landlords,” says Paul Esajian of FortuneBuilders, “Many landlords view calls as an annoyance, and simply avoid them all together. This is the worst thing you can do for your property. Ignoring calls or emails is basically telling your tenants that they aren’t important enough for you to deal with. If you do this enough times, your tenants will feel the same way about you and the property.” 3. Offer flexible payment options Emergency situations arise in all of our lives. We’ve all encountered instances when the car broke down, forcing us to exceed our monthly spending budgets to secure the repairs. Your tenants will likely come to you with stories of their own, detailing why their rents may be late. You have a business to run. The rents must be paid. But your ability to help your tenants find ways to make those payments with a lot less stress will go a long way in providing everyone with more peace of mind. At SingleKey, we offer landlords a unique way to receive timely payments without having to go through the hassle of running down their tenants. We manage rental risks so landlords can rest easy, and we offer tenants payment flexibility options. This includes the ability to postpone rent payment for a month and the acceptance of payments by cheque or Interac. By developing stronger relationships with your tenants, you'll make your job as a landlord a whole lot easier. --- ### 4 Simple Tips For Finding Yourself The Perfect Place To Rent [4 Simple Tips For Finding Yourself The Perfect Place To Rent](https://www.singlekey.com/en/4-simple-tips-for-finding-yourself-the-perfect-place-to-rent/) Date: January 5, 2020 Author: SingleKey Content: 1. Be On The Lookout For “For Rent” Signs In Your Favourite Areas There’s nothing like a little (and literal) legwork to get the ball rolling on the whole “finding a place to live” thing. If you’re interested in a particular area of your city – perhaps, because it’s close to where you work – take a walk through the neighbourhood. Be on the lookout for properties that are up for rent and be sure to inquire within. There’s nothing like seeing a place for yourself to determine if it’s the right spot for you. This do-it-yourself practice is encouraged by Stacey Sleightholm of BlogTO.com. Among her tips for finding an apartment in Toronto, she suggests that you walk around neighbourhoods of your liking. “If you know the general area you’re interested in, take a stroll around the neighbourhood and keep an eye out for ‘for rent’ signs,” she advises, “Not only will you get the jump on any great units in the area, but you’ll also learn where local amenities exist.” 2. Try An Age-Old Tradition: Contact A Real Estate Agent Sometimes, it’s best to leave it to the experts. If you’re one of those individuals who would rather let a professional find a rental space for you, don’t hesitate to reach out to one. After all, there should be no cost to you for using a real estate agent. They generally receive commissions from the owners of the properties they find tenants for. Lauren Pelley of CBC News recommends real estate agents and cites Toronto-based renter, Ben Singer as an advocate for them. “Singer…swears by the real estate agent who did all the legwork,” she reports, “And he didn’t have to pay a penny for the service — the fees are actually paid by whoever is trying to rent out their unit.” Singer adds that real estate agents “have the capacity to filter out a lot of stuff and save you a lot of time.” 3. Seek Out Referrals Today’s consumer is very savvy. He/she will often look for word-of-mouth recommendations before making buying decisions. As well, most people will take to the internet to read online reviews about businesses before giving them their support. When looking for a place to live, this is a great strategy. Ask around. Try to attain information about living spaces from a variety of sources you trust, both online and offline. 4. Find A Landlord Who Is A SingleKey Customer! At Single-Key, we make it so that once you’ve found the perfect place to rent, the rest is easy. That is, of course, if your landlord is a Single-Key customer. If so, we offer you payment flexibility like no other rental agreement can. At no cost to you (the monthly fee is paid by your landlord), you will be able to postpone your rent for a month and also be able to choose between cheque and Interac as your payment method! --- ### What Is The Hardest Part About Being A Landlord? [What Is The Hardest Part About Being A Landlord?](https://www.singlekey.com/en/ownerkey/being-homeowner/what-is-the-hardest-part-about-being-a-landlord/) Date: December 20, 2019 Author: SingleKey Content: Many Will Tell You That It’s The Non-Stop Ringing Of The Phone In most cases, the “phone is ringing off the hook” scenario is one that conveys that business is booming. In a landlord’s case, it may just mean that, as well. A ringing phone can signify a potential renter calling to look at the property. But, most often, the phone calls are complaints. On BiggerPockets.com, Kevin Perk tops his list of things he hates most about being a landlord with the inundation of phone calls he receives. “When you become a landlord, your phone begins to ring,” he details, “Sometimes that can be good; other times it can be bad. Good or bad, there comes a time when you’ll be ready to throw your phone in the river because it never seems to stop ringing. Prospective tenants call looking to rent an apartment. Current tenants call to tell you something is broken, that they will be late with their rent or to complain about something else. There is always someone calling.” Others Will Say That It’s The Carrying Of A Mortgage Renters aren’t the only ones who are required to make monthly payments. Quite obviously, landlords – a.k.a. property owners – have monthly payments of their own to make. And, in many cases, they have several properties to pay for. Paying the mortgage is a monthly obligation that can often be a tough task. This is especially true if there is difficulty with collecting rent from tenants on a timely basis. On ClubThrifty.com, Greg Johnson lists carrying a mortgage at the top of his “Being A Landlord – The Bad” list. “Don’t run out and finance a rental house just yet!” he advises, “Borrowing on a rental house means some fairly major risk for you. If your renter doesn’t pay, is late, or the property is empty, you still have to pay that mortgage bill every month. Before making the leap, be sure you’ve got the money to cover the costs for a few months if needed.” Most Will Complain About Having To Collect The Rent Each Month Depending on how many tenants you have living in your property, monthly rent collection can be an intimidating duty. Hopefully, the majority of your tenants are the types who promptly pay their rents without having to be constantly reminded. However, nearly every landlord has experienced altercations with tenants who list numerous excuses as to why they don’t have enough money to pay their rents by their due dates. At Single-Key, we sympathize with this dilemma. In fact, we understand the difficulties that are presented on both sides. This is why we offer a service that provides both landlords and tenants with great peace of mind. For landlords, we take over the responsibility of collecting rent from your tenants! As a result, you are guaranteed to receive all of your rent money on time, each and every month. For tenants, we make it a lot easier for you to pay your rent if your landlord is a Single-Key customer! We offer payment flexibility that includes allowing you a choice to pay with either cheque or Interac. And we also allow you to postpone your rent for a month, if absolutely necessary. For more information about SingleKey’s Rent Guarantee, please don’t hesitate to give us a call at 416-518-3489 or email us at contact@single-key.com. --- ### What Are The Necessary Steps To Evicting A Delinquent Tenant? [What Are The Necessary Steps To Evicting A Delinquent Tenant?](https://www.singlekey.com/en/ownerkey/laws-regulation/what-are-the-necessary-steps-to-evicting-a-delinquent-tenant/) Date: November 13, 2019 Author: SingleKey Content: Are they constantly throwing parties and damaging your unit? Do they elicit constant noise complaints? Are they regularly late with rent? Have they not paid their rent in months? If you’ve answered “yes” to any of these questions, you’ve likely already contemplated taking the steps to evict your tenants. How do you go about it? If we’re being perfectly honest, it can be a super annoying process. What steps are necessary to evict a delinquent tenant? 1. Fill Out A Form N4 For Ontario-based landlords, a Form N4 must be completed. This is also known as the “Notice to End a Tenancy Early for Non-payment of Rent”. The form requests of you to provide information pertaining to the issues you’re having with your tenant. It also informs that your tenant has until midnight on the day his/her rent is due to pay the rent and that you must wait until after that day to give the tenant notice of his/her eviction. It’s also vital you carefully check your math. The form will eventually be submitted to your tenant and it is imperative that the exact amount of the past due rent is listed in the tables provided. Of important note: “If your tenant pays rent by the month or year, you must give at least 14 days notice. If your tenant pays rent by the day or week, you must give at least 7 days notice." 2. Fill Out A Form L1 If The Tenant Does Not Make A Payment Within 14 Days If you’ve provided your tenant with your completed N4 notice and he/she still doesn’t pay the rent within 14 days, you’ll need to complete a Form L1 – Checklist. It is also known as the “Application to Evict a Tenant for Non-payment of Rent and to Collect Rent the Tenant Owes”. There is no less than seven-part of this application. Completing them requires you to provide information about the address of the rental unit and the total amount owed by the tenant. As well, you are asked to provide information about the tenant’s rent amount, the rent deposit and whether or not the tenant is still in possession of the rental unit. You’ll also need to show how you’ve calculated the amount owed you. 3. Hire A Lawyer And Go To A Hearing At The Landlord And Tenant Board If you believe this sounds expensive and time-consuming, you’d be right. Not to mention, hearings can often take months to schedule. The process is generally a long and drawn-out one that also tends to be very tenant-favouring. 4. Book The Sheriff To Evict The Tenant This step is only necessary if you’re successful at your Landlord and Tenant board meeting. It will also cost you $500 to book the sheriff. Keep in mind that, on average, it takes approximately 89 days to successfully evict a tenant in Ontario. Unfortunately, most bad tenants are known for their tendencies to keep their homes in disarray. If this is the issue you’ve encountered, you’ll likely have to fork out thousands of dollars for repairs and renovations. How Can You Avoid These Headaches As A Landlord? SingleKey proudly offers Rent Guarantee. This program has helped many an Ontario landlord to evade unnecessary headaches and time-wasting stress. By taking advantage of Rent Guarantee, you put the burden on SingleKey to manage the time-consuming, tenant-evicting hassle for you. So, how does it work? Firstly, we invite tenants to apply online for your rental property. After receiving their pertinent information, we screen them for you. As part of the process, we pull credit reports, call references and verify employment and income information. We also collect your rent for you! Rent is collected via pre-authorized debit and is deposited directly into your account. This has been proven to be much faster than either cheques or Interac e-transfers, guaranteeing you an end to late payments. We don’t use the word “guarantee” lightly, by the way. We ensure that your rent is paid for up to 12 months or $60,000 – even in the event that your tenant misses his/her payment. In fact, we guarantee payment of your rent up until the tenant is removed from your property. We even protect that property of yours. We cover up to $10,000 in property damage due to tenant vandalism. Finally – and this may be the best part – we handle evictions for you! For more information about SingleKey’s Rent Guarantee, please don’t hesitate to give us a call at 416-518-3489 or email us at contact@single-key.com. --- ## EN Knowledge Base ### How long does information stay on your credit report? [How long does information stay on your credit report?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-long-information-stays-on-your-credit-report/) Date: February 9, 2024 Author: Karen Wong Content: Credit bureaus may keep positive or negative information on your credit report. Credit bureaus keep this information on your credit report for a certain period of time.The exact time varies based on:The type of financial informationYour province or territoryThe credit bureau that created the reportPlease find attached a link with more information on how long the information stays on the credit report.  --- ### What is Rent Collection? [What is Rent Collection?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/what-is-rent-collection/) Date: February 1, 2024 Author: Karen Wong Content: You can streamline your rental income and avoid the hassle of checks and late payments with our Rent Collection tool. It works similar to a Pre-Authorized Debit system, it's free for the first 3 tenants!You can schedule the start date for rent collection and even skip or reschedule payments as needed. Typically, transactions take about 5 business days to complete.  --- ### Does the coverage extend to instances where the tenant breaks the lease? [Does the coverage extend to instances where the tenant breaks the lease?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/does-the-coverage-extend-to-instances-where-the-tenant-breaks-the-lease/) Date: January 24, 2024 Author: Karen Wong Content: 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 with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### How should I complete the application if I'm currently unemployed? [How should I complete the application if I'm currently unemployed?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-should-i-complete-the-application-if-im-currently-unemployed/) Date: January 22, 2024 Author: Karen Wong Content: Step 1: In case you are currently unemployed, you can select the most suitable option from the dropdown, under “Employment Status”. Step 2: Select “unemployed” from the dropdown present in the “Employment status” box. Step 3: This will allow you to proceed to the next step in the application.   --- ### Can I use Google Authentication to log in? [Can I use Google Authentication to log in?](https://www.singlekey.com/en/knowledge-base/admin/can-i-use-google-authentication-to-log-in/) Date: December 21, 2023 Author: Karen Wong Content: If you created your account using Google Authentication, you can continue using the "Log in with Google" option. If you prefer to use a password, you can change this within your “Account Settings”. Select the option “Login and Security” and select the “Unlink” option on the right corner.You will have the option to create a new password. --- ### What if the tenant damages my property? [What if the tenant damages my property?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/what-if-the-tenant-damages-my-property/) Date: December 20, 2023 Author: Karen Wong Content: 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 the amount of the damages.For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### What is the process to raise a demand? [What is the process to raise a demand?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/what-is-the-process-to-raise-a-demand/) Date: December 19, 2023 Author: Karen Wong Content: If you need to make a demand through your SingleKey account, follow these simple steps:Step 1: Log into Your SingleKey AccountGo to SingleKey's website and sign in to your account.Step 2: Navigate to "Rent Guarantee"Once logged in, select "Rent Guarantee" from the menu at the top of the page.Step 3: Select the AccountFind the account for which you need to submit a demand and click "View Details."Step 4: Initiate the DemandScroll to the bottom of the page and click "Make a Demand." You will be prompted to answer a series of questions related to your request.Step 5: Next StepsOnce your submission is received, the Demands Department will review it and contact you for further steps. Typically, we will reach out to both the landlord and tenant to ask a few follow-up questions.If you have any questions or need assistance, feel free to reach out to our support team. --- ### Enrolling existing tenants on Rent Guarantee [Enrolling existing tenants on Rent Guarantee](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/enrolling-existing-tenants-on-rent-guarantee/) Date: December 19, 2023 Author: Karen Wong Content: 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 property, if any.For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### What do you look for in a tenant? [What do you look for in a tenant?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/what-do-you-look-for-in-a-tenant/) Date: December 19, 2023 Author: Karen Wong Content: 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 the past 3 years. This helps assess their financial stability and reliability as a tenant.Source of Income: At least one person listed on the lease must have a verifiable and stable source of income. This requirement adds a layer of assurance regarding the tenant's ability to meet their financial obligations.These criteria are in place to maintain a responsible and secure leasing environment for all parties involved.For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### Can we use Rent Collection to collect a one-time deposit / first and last month? [Can we use Rent Collection to collect a one-time deposit / first and last month?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/can-we-use-rent-collection-to-collect-a-one-time-deposit-first-and-last-month/) Date: December 19, 2023 Author: Karen Wong Content: Currently, this is a feature that our system does not support. We can only collect monthly pre-authorized payments. We recommend collecting the security deposit/first and last month manually when signing the lease. --- ### Micro-Deposit Process [Micro-Deposit Process](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/micro-deposit-process/) Date: December 19, 2023 Author: Karen Wong Content: For our users' and tenants' financial security, our Risk Management team is required to verify bank information before we can activate rent collection accounts.We have introduced using micro-deposits to help verify banking information. After Submitting your bank account information we will deposit a small amount between $0.1 and $2.00 to your account. Please enter that amount on the next page. The deposit would be labeled as “Vopay International,” this may take up to 15 minutes to see in your account. Once you receive the amount, please enter the correct amount, click “Confirm” and submit. --- ### Update Landlord's banking information [Update Landlord's banking information](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/update-landlords-banking-information/) Date: December 18, 2023 Author: Karen Wong Content: Update Banking Information:Step 1: To update the banking information, please navigate to the tenant's rent collection contract and select the option “View Contract”.Step 2: On the “Rent Details” page, click “Change” under “Rent Deposit Account”.Step 3: Next, you will be brought to a page to update your bank details. You will have 2 options to update your bank account. You can either manually link your bank account by choosing the option "Enter account details manually". If you select "Enter account details manually", you will have to enter your details and upload a void cheque.Using your online bank account, you’ll find your account number details on the “My Accounts” screen. The first five digits are the transit number and the last 7 digits are the account number. If you are set up to receive eStatements, you’ll find your account number at the top of each statement.If you have a copy of a void cheque handy, you can input the transit number, institution number, and account number by using the following reference photo:We also require you to upload a scanned copy of the voided check, or a direct deposit slip to support our records verification process.If you select "Connect via Bank", you will have to choose the financial institution and proceed to connect.  --- ### What can I view on my account settings? [What can I view on my account settings?](https://www.singlekey.com/en/knowledge-base/admin/account-settings/) Date: December 14, 2023 Author: Karen Wong Content: Under your "Account Settings," you can view the following information listed below:Your Profile Login & SecurityReport Preferences TeamRental UnitsTenantsPayment Information --- ### Customize Pre-Screen [Customize Pre-Screen](https://www.singlekey.com/en/knowledge-base/pre-screen-2/customize-pre-screen/) Date: December 14, 2023 Author: Karen Wong Content: You can customize your pre-screening application by following the steps below:Please navigate to the Pre-Screen page once you log in to your account and click on "Preview Form".Once you click on "Preview Form", you have the option to customize the form present on the left hand side.  --- ### What is the difference between Pre- Screen and Tenant Report? [What is the difference between Pre- Screen and Tenant Report?](https://www.singlekey.com/en/knowledge-base/pre-screen-2/what-is-the-difference-between-pre-screen-and-tenant-report/) Date: December 14, 2023 Author: Karen Wong Content: FeaturePre-ScreenTenant ReportFunctionalityA questionnaire form used to collect basic information and insights on a potential tenant.A comprehensive report that includes credit check, public record search, and social media scan/check.Price✅ Free to use. $29.99 per report in the US and Canada.Customizable✅ Yes✅ YesTurnaround Time⚡ Immediate — view answers as soon as the form is submitted.⏱ Approx. 5 minutes after submission. --- ### How do I create a new Rent Collection? [How do I create a new Rent Collection?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-do-i-create-a-new-rent-collection/) Date: December 12, 2023 Author: Karen Wong Content: You can set up a new Rent Collection contract by following the steps below:Step 1: The first step is to log into your profile and navigate to "Rent Collection".Step 2: Select “New Rent Collection” in the right corner.Step 3: You will need to select the tenant in the dropdown menu and the information of the rental property.  In case you choose to "Add Tenant", you can enter the name, email ID, and phone number and click on "Add". Step 4: You will now have to enter the rent amount along with the start and end date. Step 5: Once complete, you will have to link your banking account where you would want the rent to be deposited. When you click on "Add new bank account", you will have 2 options to link your bank account. You can either manually link your bank account by choosing the option "Enter account details manually" or log in using Plaid, by choosing the option "Connect via Bank".If you select "Enter account details manually", you will have to enter your details and upload a void cheque.If you select "Connect via Bank", you will have to choose the financial institution and proceed to connect. Step 6: At the final step, you must complete the verification process and you can add a document for proof of ownership as it is optional. --- ### How do I view a tenant's information? [How do I view a tenant's information?](https://www.singlekey.com/en/knowledge-base/admin/editing-tenants/) Date: December 12, 2023 Author: Karen Wong Content: To update/ add Tenant's, please follow the steps below:Step 1: Please navigate to "Account Settings" once you log in to your profile.Step 2: Select the option "Tenants" on the left pane.Step 3: You can add a new Tenant by clicking on the blue button in the right corner, "New tenant".Step 4: You can enter the name, email ID, and phone number of the new tenant and click on "Add". Step 5: Additionally, you can archive the tenant by selecting the button "Archive" button. --- ### How do I update an address/rental units? [How do I update an address/rental units?](https://www.singlekey.com/en/knowledge-base/admin/updating-address-rental-units/) Date: December 12, 2023 Author: Karen Wong Content: To update/ add Rental Units, please follow the steps below:Step 1: Please navigate to "Account Settings" once you log in to your profile.Step 2: Select the option "Rental Units" on the left pane.Step 3: You can add a new Rental Unit by clicking on the blue button in the right corner, "New Rental Unit".Step 4: You can enter the address and click on "Add". Step 5: Once complete, you can "Edit" the Rental Unit by selecting the button "Edit".You can edit the address and select "Update".Step 6: Additionally, you can "Archive" the Rental Unit as well, if required. You can select the 3 dots on the right corner and select the "Archive Property".  --- ### How do teams work on SingleKey? [How do teams work on SingleKey?](https://www.singlekey.com/en/knowledge-base/admin/adding-team-members/) Date: December 12, 2023 Author: Karen Wong Content: Collaborating on SingleKey just got easier. You can create multiple teams for different buildings or brokerages within the same company or add another company to your account. You can assign admin roles within teams and manage teammates' access. All users will have their own log-ins, and reports can be shared seamlessly between team members.This article will show you how to:1. Create a new team for your account2. Invite teammates to your team3. How to switch between teams in your accountHow to Create a New Team:Step 1: Please navigate to "Account Settings" once you log in to your account. Step 2: Select the option "Team" on the left pane.Step 3: To add a new team, please click on the button "Add new team". Step 4: Customize the name of the team and choose the associated business from the dropdown menu. Then click create once completed.How to Invite a New Teammate:Step 1: On the Teams page in your account settings, select the team you want to add the new member to.Step 2: Click the "+Member" button in the right corner.Step 3: Enter the team member's name and email ID, and select the team role.Admins will have access to see the team's reports and manage the team and billing information.Members will be defaulted to only viewing their own reports which can be updated in the next step.Click on "Create." An email notification will be sent to them to create an account to join the team.Step 4:  Edit the permissions for team members by toggling on/off the "All Access" button.If on, the team member will be able to view other member's reports.If off, the team member can only see the reports that are run by them.How to Switch Between Teams:Once logged in, click your profile avatar in the top right to access the dropdown menu and click the side arrow. The highlighted team is the one you are currently in. To switch, simply click the other team name. When you order a report, whatever team that is highlighted is the team the report will be under.  --- ### How do I edit my report preferences? [How do I edit my report preferences?](https://www.singlekey.com/en/knowledge-base/admin/report-preferences/) Date: December 12, 2023 Author: Karen Wong Content: You can customize your report preferences by following the steps below:Please navigate to "Account Settings" once you login to your profile.Select "Report Preferences" on the left pane.You can customize the preferences based on your requirements and save. --- ### Pre-screening walkthrough [Pre-screening walkthrough](https://www.singlekey.com/en/knowledge-base/pre-screen-2/pre-screening-walkthrough/) Date: December 11, 2023 Author: Karen Wong Content: Pre-screening a rental applicant is an easy way to gather basic information and gain quick insights about a potential applicant before running a credit report. SingleKey offers a free tool allowing landlords to pre-screen their tenants using a customizable form. Log in to your SIngleKey account and click the “Pre-Screen” option at the top of the screen to get started.Step 1: Log in to your accountLog in to your SingleKey account and click the Pre-Screen option at the top of your screen.Step 2: Customize your formUnder “Narrow down your list of inquiries,” select the Preview form button. This will take you to a new screen with fields on the right-hand side to toggle on and off. Decide from a variety of criteria, such as household income range and source of income, to include on the pre-screening form. Step 3: Invite the tenantNow that you’ve customized your pre-screening form, click the blue Get Started button to invite a potential tenant to complete it.In the pop-up window, choose your rental unit from the first drop-down menu, or add a new property. Next, enter up to five renter’s email addresses. You may also copy the link to share the form. Click the Send button if you’re ready to invite your tenant to fill out the form, or select Preview form if you’d like to review or change the pre-screening criteria. Step 4: Manage the status of pre-screeningsOnce you send a pre-screening invitation, the tenant will receive an email within minutes from SingleKey requesting that they complete the form. Through your SingleKey dashboard, you’ll be able to see which applicants haven’t filled out their pre-screening form yet and decide if you’d like to send them a reminder. Our pre-screening tool also has search and filter options, so you can find applicants quickly by their name, address, email, the date the application was sent, or by your rental unit’s address.Step 5: Select your top candidatesAs pre-screening forms are completed, you can easily sort rental applicants by credit score and income.Narrow down your top choices and choose which prospective renters to continue screening by running a full credit report on them.Visit How to Pre-screen Tenants Using SingleKey for a step-by-step guide on how to use our pre-screening tool. --- ### How do I fill out the SingleKey application? [How do I fill out the SingleKey application?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-do-i-fill-out-the-application-that-my-landlord-property-manager-has-sent-me/) Date: December 7, 2023 Author: Karen Wong Content: You will receive the link in the email ID provided, please click on “Start Application”.Step 1: Once you click on Start Application, you will view the screen shown below, please click on “Apply Now”Step 2: You can begin by filling out your Personal information such as your:Full Legal NameDate of birthPhone number (can be edited) For Canadian applicants, the SIN or driver’s license number is optionalFor US Applicants, the SSN (Social Security Number)  is mandatory. Now, you can enter the Current address (address present on the government-issued photo ID).Step 3: In the next step, you can fill in your “Address History”.You can now add in the details for Landlord reference and continue to the next step.Step 4: Please enter your Employment Details. You can add additional notes as well. Additionally, you can add the details for “Employment reference” and proceed to the next section.Step 5: In this section, you can add your Income details. Once complete, you can add documents to confirm the proof of income and proceed to the next step.Step 6: In this section, you can add pictures of pets and proceed to the next step.Step 7: Now, you can fill in some additional information requested.Along with the additional information, you can add documents to indicate proof of ID, like a driver’s license, and proceed to the next step.Step 8: In the last step, if the landlord/property manager requests you to pay for the application, you will view the payment page after which you can submit the application.In case you have any additional questions, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### International Student [International Student](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/international-student/) Date: December 7, 2023 Author: Karen Wong Content: It is important to note that international students who do not have a consistent credit history of more than 6 months will generate a "No Credit Hit" when a credit check is conducted as they are still new to Canada. --- ### How to do a new credit check - "Enter Tenant Info" [How to do a new credit check - "Enter Tenant Info"](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-to-do-a-new-credit-check-enter-tenant-info/) Date: December 7, 2023 Author: Karen Wong Content: Step 1: Log in to SingleKey and select the Tenant Report option from the top menu. Then, click on "Order new report" on the top right corner of the page.Step 2: Choose whether you would like to:(A) Send an invitation to the tenant to fill out their information or(B) If you already have the consent form, you can enter the information manually yourself.Option B: If you choose to enter the tenant's information manually: "Enter Tenant Information"Step 1: You will need to provide theirNameDate of birthEmailPhone numberOptional information includes SIN or a driver's license (for Canadian Applicants)For US Applicants, the SSN number is mandatory. Current address (their address is present on their government-issued photo ID)Upload a consent file stating that the applicant has given consent to run a  credit check, this is usually obtained from the standard rental application forms. Step 2: Enter the address of the rental unit. You can edit an address, If required as well. Step 3: Enter the payment details and complete checkout. Please find attached the link for more information on how to order a report:https://help.singlekey.com/how-to-order-a-singlekey-credit-and-background-check-report/ --- ### How do I view my date of deposit for Rent Collection? [How do I view my date of deposit for Rent Collection?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-do-i-view-my-date-of-deposit-for-rent-collection/) Date: August 18, 2023 Author: Karen Wong Content: To view the Rent Collection date of deposit:Please login to your SingleKey account.Navigate to Rent Collection at the top toolbar.Under the tenant's rent collection transaction history, you would be able to view the "Estimate Date of Deposit" for the month. --- ### Does Rent Collection occur during Weekends or Holidays? [Does Rent Collection occur during Weekends or Holidays?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/does-rent-collection-occur-during-weekends-or-holidays/) Date: May 10, 2023 Author: Karen Wong Content: Rent Collection only occurs and processes during Business Days as per banking standards. Holidays and Weekends do not fall into business days. If rent is to be deposited and a weekend or holiday comes up, the rent will deposit the next business day. --- ### Do you offer services / reports in french? [Do you offer services / reports in french?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/do-you-offer-reports-in-french/) Date: February 16, 2023 Author: Karen Wong Content: Currently, we do not have the option to provide our reports in French. However, we are in the works of implementing a site-wide update on many of our services to enhance our customer’s experience.At this time, our team is unable to provide a set date for the release of a French version of the report. We are working hard to ensure this will be implemented in the coming months, as this is a delicate process overall.If you leave your email with us, we can be sure to reach out once our French version is available! --- ### When can the Landlord contact us to raise a demand? [When can the Landlord contact us to raise a demand?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/when-can-the-landlord-contact-us-to-raise-a-demand/) Date: January 27, 2023 Author: Karen Wong Content: 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 the next steps. For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### Update Tenant Banking Info [Update Tenant Banking Info](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/update-tenant-banking-info/) Date: January 26, 2023 Author: Karen Wong Content: For updating the banking information for the tenant under Rent Collection, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### What is the pricing for adding a second applicant? [What is the pricing for adding a second applicant?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/add-second-applicant-pricing/) Date: January 25, 2023 Author: Karen Wong Content: When adding a second applicant, you will be charged for two reports. This is because each individual’s credit and background check file is unique to them and would produce their report, hence there would be an additional charge for each applicant. --- ### Naborly user, why do I need to verify again. [Naborly user, why do I need to verify again.](https://www.singlekey.com/en/knowledge-base/admin/naborly-user-why-do-i-need-to-verify-again/) Date: January 25, 2023 Author: Karen Wong Content: Thank you for transitioning over to Singlekey. As a final step, we do require our customers to complete the verification process. Given we work with sensitive financial information, we require all users of SingleKey to undergo a verification and anti-fraud process to avoid malicious activity on our platform. We have implemented a security system where every landlord has to go through an identity verification process before we can release any reports to you as they contain tenant's personal financial information.The verification process used with Naborly was done under their terms and conditions and privacy standards. Since you are now migrating over to our platform under new terms and conditions and as our compliance with Equifax, we do require the verification process to be completed. --- ### Our Service Locations [Our Service Locations](https://www.singlekey.com/en/knowledge-base/admin/our-service-locations/) Date: January 25, 2023 Author: Karen Wong Content: SingleKey was established in 2017 in Toronto, Canada. Currently, we provide services all over Canada and the USA.We currently provide our Tenant Reports and Rent Guarantee Program for the USA. The Rent Collection Tool is currently unavailable. Feel free to email us at info@singlekey.com or call 1-877-978-1404 if you have questions. --- ### I'm experiencing technical issues [I'm experiencing technical issues](https://www.singlekey.com/en/knowledge-base/admin/im-experiencing-technical-issues/) Date: January 25, 2023 Author: Karen Wong Content: If, for any reason, you're experiencing a technical issue, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you.If reaching out via email, kindly attach screenshots to illustrate the issue you are experiencing which will enable us to determine the best course of action.  --- ### How do I update my payment information? [How do I update my payment information?](https://www.singlekey.com/en/knowledge-base/admin/update-payment-info/) Date: January 20, 2023 Author: Karen Wong Content: To update your payment information, please follow the steps below:Step 1: Please navigate to "Account Settings" once you log in to your profile.Step 2: Select the option "Payment Information" on the left pane.Step 3: Click on "Add credit card" under "Payment Method".Step 4: Enter your credit card details and click on "Save".Step 5: You can have multiple cards saved as well. Additionally, you can choose the card which you would like to have as a "Default" for billing.  --- ### How do I update my login credentials? [How do I update my login credentials?](https://www.singlekey.com/en/knowledge-base/admin/applicant-did-not-fill-out-invitation-landlord-paid/) Date: January 20, 2023 Author: Karen Wong Content: You can update your email ID and password by navigating to "Account Settings".Please select the option"Login and Security" on the left pane. You can change/update your email ID, and password and enable two-factor authetication as well.   --- ### What are the modes of payment for Tenant Report? [What are the modes of payment for Tenant Report?](https://www.singlekey.com/en/knowledge-base/admin/modes-of-payment-for-tenant-report/) Date: January 20, 2023 Author: Karen Wong Content: The different payment channels supported at SingleKey areUnion PayPayPalAMEXVisaMastercardVisa Debit cards --- ### What happens at the end of the 12 months from signing for the Rent Guarantee? [What happens at the end of the 12 months from signing for the Rent Guarantee?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/what-happens-at-the-end-of-the-12-months-from-signing-for-the-rent-guarantee/) Date: January 20, 2023 Author: Karen Wong Content: 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' notice. If a Landlord wishes to terminate this Agreement before the end of the initial agreement, the Landlord must provide a thirty (30) day notice of the termination and will be liable for the immediate payment of any outstanding Program fees.For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### Can students qualify for Rent Guarantee? [Can students qualify for Rent Guarantee?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/can-students-qualify-for-rent-guarantee/) Date: January 20, 2023 Author: Karen Wong Content: 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 book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### Can self-employed tenants qualify for the Rent Guarantee program? [Can self-employed tenants qualify for the Rent Guarantee program?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/can-self-employed-tenants-qualify-for-the-rent-guarantee-program/) Date: January 20, 2023 Author: Karen Wong Content: 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 information on qualification criteria, please click here. For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact. --- ### How can I claim property damage on Rent Guarantee? [How can I claim property damage on Rent Guarantee?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/how-can-i-claim-property-damage-on-rent-guarantee/) Date: January 20, 2023 Author: Karen Wong Content: If the tenant maliciously damages your property, you can start a demand by following the steps here.For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### When does Rent Guarantee start? [When does Rent Guarantee start?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/when-does-rent-guarantee-start/) Date: January 20, 2023 Author: Karen Wong Content: The coverage begins when the landlord has had the tenants approved, submitted all of the required documents and the tenant moves into the unit. For more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact. --- ### Address Duplication on profile [Address Duplication on profile](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/address-duplication-entering-property-information/) Date: January 20, 2023 Author: Karen Wong Content: When you are filling out the property information, you can select an existing property as well.If you observe duplicates in the dropdown: Under Account Settings, there is an option “Rental Units”, you can remove it in that section.Navigate to Account Settings and click on  “Rental Units” on the left pane.Here you will be able to add/remove addresses in this section.  --- ### Why is a segment of my report appear incomplete, partially complete or blurred out? [Why is a segment of my report appear incomplete, partially complete or blurred out?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/why-is-a-portion-of-my-report-blurry-blurred/) Date: January 20, 2023 Author: Karen Wong Content: Certain sections of the report could be blurry if Equifax is waiting on information from the courts and databases to reply. This can sometimes take a few business days and then the report will update with the new information.  The court records system is quite fragmented, and sometimes the national database cannot provide all the information we'd like to receive. This triggers a state-level and county-level court records search, which sometimes requires manual intervention, which is why it may take a few more days. If the report is still showing some sections blurry or processing after more than 4-5 business days, please email us at info@singlekey.com or call us at 1-877-978-1404 to further assist you. --- ### New to Canada ? List of documents needed to qualify! [New to Canada ? List of documents needed to qualify!](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/new-to-canada-list-of-documents-needed-to-qualify/) Date: January 19, 2023 Author: Karen Wong Content: Employed applicants:Proof of income ie job letter, paystubs, etc. Some applicants may continue working in Canada for the same company they were working for abroad, in this case, a transfer letter may be helpful.ID, work permit, student permit, etc.International credit information if they have it Unemployed applicants:Proof of Canadian bank account. This way if they have funds in Canada, and additional savings back home they are showing they have somewhere to transfer funds too.Proof of savings from abroad if applicable.If they are not employed, rent to income ratio of no more than 50% is based on savings. Rent to income ratio would be based on the conversion of any international savings to CAD. International credit information if they have it.ID, work permit, student permit, etc.Refugee:ID, work permit, student permit, etc.Proof of income and or savingsProof of govt. funding if applicable (I.e. for Ukrainian refugees they may be receiving funding from govt or other organizations once they arrive in Canada)Any other applicable documents --- ### Requirements for the Rent Guarantee Program? [Requirements for the Rent Guarantee Program?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/requirments-for-the-rent-guarantee-program/) Date: January 19, 2023 Author: Karen Wong Content: For New Tenants:No tenant evictions or bankruptcies on the credit report in the past three years.Tenant rental application with two forms of government identification.The monthly Rent-to-Gross Household income should not exceed forty-five percent (50%).Current credit report (not more than 30 days old).Proof of income.For Existing Tenants with >12 Months of Occupancy:No current rent payment defaults.No impending, current, or outstanding malicious tenant damage claims or orders at the time of property registration.Credit report/proof of income back from the time the tenant applied for the property, if available.One form of government-issued identification.To schedule a call with our Rent Guarantee Specialist, please choose a time that suits you here. --- ### How long does it take to view the report ? [How long does it take to view the report ?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-long-does-it-take-to-view-the-report/) Date: January 19, 2023 Author: Karen Wong Content: Once the account setup process has been completed, and the potential tenant/landlord has filled out the information and submitted the application, it would take about 5 minutes for the report to be generated. After which you would be able to view the report results. The account user will receive an email informing them that the report is ready to be viewed in their profile.In case you have not received the report in about 5-10 minutes, kindly follow this link here.  --- ### Is data secure? [Is data secure?](https://www.singlekey.com/en/knowledge-base/safety-and-privacy/is-data-secure/) Date: January 19, 2023 Author: Karen Wong Content: Protecting your information is our priority. All tenant and landlord data is securely stored and encrypted. For more details see our Privacy Policy. --- ### Terms and Conditions [Terms and Conditions](https://www.singlekey.com/en/knowledge-base/safety-and-privacy/singlekey-terms-and-conditions/) Date: January 18, 2023 Author: Karen Wong Content: You can view our terms and conditions by following the link attached below:Canada - Terms and ConditionsUS - Terms and Conditions --- ### General documents and forms pertaining to Landlords [General documents and forms pertaining to Landlords](https://www.singlekey.com/en/knowledge-base/admin/general-documents-and-forms-pertaining-to-landlords/) Date: January 18, 2023 Author: Karen Wong Content: For Resources for Canadian Landlords, please click here.For Resources for US Landlords, please click here. --- ### I could be a victim of identity fraud via Singlekey. [I could be a victim of identity fraud via Singlekey.](https://www.singlekey.com/en/knowledge-base/safety-and-privacy/i-could-be-a-victim-of-identity-fraud-via-singlekey/) Date: January 18, 2023 Author: Karen Wong Content: In the unfortunate event that you might be a victim of identity fraud via our services,  please email us at Info@Singlekey.com or call us at 1-877-978-1404. We will then gather as much information as possible to determine the best of course of action to help you. Please note we may ask for information pertaining to any police investigation you have started to work with law enforcement to assist you.  --- ### Where to get Tenant Insurance [Where to get Tenant Insurance](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/where-to-get-tenant-insurance/) Date: January 18, 2023 Author: Karen Wong Content: SingleKey is currently in partnership with Duuo which is one of the Tenant Insurance providers. You could opt for this in case you don't currently have a provider.Duuo Insurance link. --- ### Do we notify the tenant(s) when rent is due? [Do we notify the tenant(s) when rent is due?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/do-you-notify-my-tenants-when-rent-is-due/) Date: January 18, 2023 Author: Karen Wong Content: Yes, we do notify the tenant's when their rent is due. We will send a notification email to your tenant(s) 2 days before the rent is due so they ensure that they have sufficient funds in their account.When setting up the rent collection contract, you will invite your tenant(s) through email to accept the Rent Collection terms and to connect their bank account. --- ### How safe is my banking information ? [How safe is my banking information ?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-safe-is-my-banking-information/) Date: January 18, 2023 Author: Karen Wong Content: 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. --- ### How long does it take for the rent collection deposit? [How long does it take for the rent collection deposit?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-long-does-it-take-for-the-rent-collection-deposit/) Date: January 18, 2023 Author: Karen Wong Content: Typically, it takes 4-5 business days for the rent transfer to be completed. Note that if the payment date falls on a weekend or a holiday, the rent collection process will begin on the next business day.If after 5 business days from the day of withdrawal, you have not received the rent, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### Modify Rent Collection contract [Modify Rent Collection contract](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/can-i-make-changes-to-my-rent-collection/) Date: January 18, 2023 Author: Karen Wong Content: You can make the following changes to your rent collection contract: Modify Contract: Delay/Skip next month’s rent collectionCancel your contractUpdate banking informationTo make updates to your rent collection, please navigate to the "Rent Collection" page once you log into your account. Modify Contract To Skip/Delay the upcoming rent collection transaction for your tenant, please follow the steps below:Step 1: Please navigate to the tenant's rent collection contract and select the option “Modify next payment”.Step 2: There will pop up that will appear with two options that you can choose from, "Reschedule" or "Skip".When you choose to delay a payment, you are essentially changing the date of the collection to another for the current month only. To do so, select “Reschedule”.Enter the date you want the payment to be withdrawn from the tenant’s account and click “Continue”.Note: Your tenant will receive an email letting them know you changed the date. To skip the rent payment on SingleKey for the month, select “Skip” and click “Continue”.You and your tenant will both receive an email with confirmation that the rent payment has been skipped for that monthUpdate/View Rent Details To update the banking information, please navigate to the tenant's rent collection contract and select the option “View Contract”.You will be able to view and update the following information:Tenant: View the tenant’s informationNote: you cannot change the tenant’s banking information. If the tenant needs to update their bank account, please have them reach out to us directly and we can send them a link to let them update their information.If you need to switch to another tenant, you will need to cancel the contract and sign up for a new rent collection with that tenant.Property: Property information. Rent Amount: Update the rent amount and date of transaction. Start and end date: Change the end date. Review your schedule:  You can review your rent collection schedule here. Rent Deposit account: Update your banking details. Cancel Contract: Cancel the rent collection contractCancel Contract To cancel your rent collection, please follow the steps below: Step 1: Please navigate to the "Rent Collection" page once you log into your account. Step 2: Please navigate to the tenant's rent collection contract and select the 3 dots in the corner, you will have a drop-down where you can select the option “Cancel Contract”.Step 3: Once you select “Cancel Contract”, you will receive a pop-up box that requests confirmation of the contract. Additionally, you can add a reason for the cancellation as well and click on “Cancel Contract”. Note: Please note that once cancelled, the rent collection will no longer be active.Alternatively, you can also Click “View Contract”  which will take you to the page where you can view the details of the rent collection contract. Then, you can click on “Cancel Contract” at the left bottom of the page.  --- ### How much does Rent Collection service cost? [How much does Rent Collection service cost?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/what-is-the-cost-for-the-service-and-what-is-included-for-free/) Date: January 18, 2023 Author: Karen Wong Content: The rent collection service is free for up to 3 concurrent transactions per month - so if you have 3 leases, you will typically pay $0 per month.For up to 10 leases, we would charge $5 per transaction (10-3 = 7 * $5 = $35).For over 10 leases, we charge $3 per transaction.For more information on rent collection please view https://www.singlekey.com/free-rent-collection/.For additional inquiries, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### How do I cancel Rent Collection? [How do I cancel Rent Collection?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-do-i-cancel-rent-collection/) Date: January 18, 2023 Author: Karen Wong Content: To cancel your rent collection, please follow the steps below: Step 1: Please navigate to the "Rent Collection" page once you log into your account. Step 2: Please navigate to the tenant's rent collection contract and select the 3 dots in the corner, you will have a drop-down where you can select the option “Cancel Contract”.Step 3: Once you select “Cancel Contract”, you will receive a pop-up box that requests confirmation of the contract. Additionally, you can add a reason for the cancellation as well and click on “Cancel Contract”. Note: Please note that once cancelled, the rent collection will no longer be active.Alternatively, you can also Click “View Contract”  which will take you to the page where you can view the details of the rent collection contract. Then, you can click on “Cancel Contract” at the left bottom of the page.   --- ### What are SingleKey's Services? [What are SingleKey's Services?](https://www.singlekey.com/en/knowledge-base/admin/what-are-singlekeys-services/) Date: January 18, 2023 Author: Karen Wong Content: SingleKey provides the following three services:Tenant ReportsWe provide our Tenant Reports in Canada ($29.99) and the US. ($29.99) As part of the Tenant Reports, you will receive a comprehensive report containing the following information:    (i) A Full Equifax Credit Report(ii) A Social Media Scan(iii) A Public document scanRent Guarantee ProgramWe provide our Rent Guarantee Program Reports in Canada and the US. Rent Guarantee protects against tenant delinquency. For 5% annual or 5.5%  monthly rent, we cover Guaranteed Rental income for up to 12 months or $60,000 per leaseDamage protection from willful tenant damage up to $10,000 per leaseLegal Fees incurred during the eviction process covered up to $1,500Automatic Rent Collection via PAD2 FREE Tenant Credit & Background Checks3) Automated Rent Collection Tool    Our Rent Collection tool is currently available only in Canada. The Rent collection is a pre-authorized debit (PAD) system that Landlords can use to collect their rental payments directly from the tenants’ accounts each month.For the first three tenants, Rent Collection is free to use. For up to 10 tenants, we would charge $5 per transaction (10-3 = 7 * $5 = $35).For over 10 tenants, we charge $3 (23 - 3 = 20 * $3 = $60). --- ### How to skip/delay a payment on Rent Collection [How to skip/delay a payment on Rent Collection](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/how-do-skip-delay-a-payment-on-rent-collection/) Date: January 18, 2023 Author: Karen Wong Content: To Skip/Delay the upcoming rent collection transaction for your tenant, please follow the steps below:Step 1: Please navigate to the "Rent Collection" page once you log into your account. Step 2: Please navigate to the tenant's rent collection contract and select the option “Modify next payment”.Step 3: There will pop up that will appear with two options that you can choose from, "Reschedule" or "Skip".When you choose to delay a payment, you are essentially changing the date of the collection to another for the current month only. To do so, select “Reschedule”.Enter the date you want the payment to be withdrawn from the tenant’s account and click “Continue”.Note: Your tenant will receive an email letting them know you changed the date. To skip the rent payment on SingleKey for the month, select “Skip” and click “Continue”.You and your tenant will both receive an email with confirmation that the rent payment has been skipped for that monthFor more information on our rent Collection tool, please click here https://www.singlekey.com/free-rent-collection/In case you have additional questions please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### Rent Collection has not yet deposited, how long does it take? [Rent Collection has not yet deposited, how long does it take?](https://www.singlekey.com/en/knowledge-base/rent-collection-faqs/rent-collection-has-not-yet-deposited-how-long-does-it-take/) Date: January 18, 2023 Author: Karen Wong Content: Transaction Completion TimeRent collection typically takes 4-5 business days to be finalized. Please keep in mind that if the payment date falls on a weekend or holiday, the process will begin on the next business day.Support for Missing PaymentsIf it has been more than 5 business days since the withdrawal date and you have not received the rent, we're here to help. Reach out to us via:Email: info@singlekey.comChat: Use our chatbot located at the bottom right corner of our website.For more information, visit: https://www.singlekey.com/free-rent-collection/We’re committed to resolving any concerns promptly and ensuring your experience is seamless.  --- ### Book a call with our Rent Guarantee Specialist [Book a call with our Rent Guarantee Specialist](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/book-a-call-with-our-rent-guarantee-specialist/) Date: January 18, 2023 Author: Karen Wong Content: To book a call with our Rent Guarantee Specialist, please select a time that works best for you here:https://calendly.com/rent-guarantee/contact --- ### How much does Rent Guarantee cost? [How much does Rent Guarantee cost?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/how-much-does-rent-guarantee-cost/) Date: January 18, 2023 Author: Karen Wong Content: You have the option to either pay monthly or annually for the rent guarantee program. The Rent Guarantee program costs:5% of the monthly rent amount paid annually (10% savings) or,5.5 % of the monthly rental amount paid monthlyFor more information on our Rent Guarantee Program, please click here.To book a call with our Rent Guarantee Specialist, please select a time that works best for you here: https://calendly.com/rent-guarantee/contact --- ### Can I stop Rent Guarantee at any time? [Can I stop Rent Guarantee at any time?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/can-i-stop-rent-guarantee-at-any-time/) Date: January 18, 2023 Author: Karen Wong Content: The landlord has 10 days to reconsider this Agreement and can notify SingleKey contact. After ten (10) days, the landlord must stay committed to the Rent Guarantee program for the entire twelve (12) months to get the twelve (12) months' worth of protection as indicated in the terms of the Agreement.After the initial lease term, the Rent Guarantee payments go month-to-month, and you can cancel at any time by providing thirty (30) days' notice.If a Landlord wishes to terminate this Agreement prior to the end of the initial Agreement, the landlord must provide a thirty (30) day notice of the termination and will be liable for the immediate payment of any outstanding Program fees.For more information on our Rent Guarantee Program, please click here https://www.singlekey.com/rent-guarantee/ --- ### How do I Start a Rent Guarantee? [How do I Start a Rent Guarantee?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/rent-guarantee/) Date: January 18, 2023 Author: Karen Wong Content: Protect your property and secure your Rental Income!Additional Info:- Reviews & Testimonials- Quote- Singlekey.com/rent-guarantee- How to Sign Up for the Rent Guarantee Video If you would like to learn more about the program, please book a call with one of our specialists.  To enroll in the program click here and follow the steps. --- ### In Which Countries is Rent Guarantee Offered? [In Which Countries is Rent Guarantee Offered?](https://www.singlekey.com/en/knowledge-base/rent-guarantee-program-faqs/where-do-we-offer-rent-guarantee/) Date: January 18, 2023 Author: Karen Wong Content: Our Rent Guarantee service is presently available exclusively in Canada and the United States.For detailed information about our Rent Guarantee Program in Canada, please visit SinglekeyFor comprehensive details regarding our Rent Guarantee Program in the United States, kindly SinglekeyTo schedule a call with our Rent Guarantee Specialist, please click here: Book a Call --- ### Does Singlekey offer property management? [Does Singlekey offer property management?](https://www.singlekey.com/en/knowledge-base/admin/does-singlekey-offer-property-management/) Date: January 18, 2023 Author: Karen Wong Content: Currently, SingleKey does not offer property management resources. However, for more information on Property Management Resources, please click here.  --- ### Where can I find a rental application? [Where can I find a rental application?](https://www.singlekey.com/en/knowledge-base/admin/where-can-i-find-a-rental-application/) Date: January 18, 2023 Author: Karen Wong Content: You can set up an application here: https://www.singlekey.com/en-ca/tenant-report/You can access this link for 5 tips to streamline the Rental Application Process:https://www.singlekey.com/en/ownerkey/tenant-screening/5-tips-to-streamline-rental-application-process/ --- ### Can I purchase reports at a bulk rate? [Can I purchase reports at a bulk rate?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/can-i-purchase-reports-at-a-bulk-rate/) Date: January 18, 2023 Author: Karen Wong Content: We offer volume discounts for users that run over 10+ reports monthly.If you would like to purchase reports at a bulk rate, please email us at info@singlekey.com or call us at 1-877-978-1404 and let us know your full name, how many properties you own, and how often you wish to run reports monthly.We also support many property management companies by setting up team accounts to allow reports to be easily accessed by their management from different accounts. You can set up team accounts under “Manage team” in your Account Settings to add team members or reach out to us for help. --- ### Can the report be edited once complete? [Can the report be edited once complete?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/can-the-report-be-edited-once-complete/) Date: January 18, 2023 Author: Karen Wong Content: Once submitted, a report cannot be edited by either the landlord or the tenant. If there appear to be any discrepancies or missing information you can send us the correct information, and we can review or add it as necessary.If you require information to be updated or added, please email us at info@singlekey.com or reach us on our chatbot located at the bottom of the screen, and we'll be happy to review this for you. If there is a mistake on a report due to incorrectly entering the applicant's information, it will result in a “No Credit Hit.” If you would like to update the information, please reach out to us with a copy of the applicant’s driver's license to have the report rerun.Charges for re-running a report: Please note, we will be happy to update this free of charge for the first time but any additional updates to further reports will result in an additional charge of $12.49, as this requires us to submit a new request to Equifax.Additional Note: we can only update or add information that would've been entered in the application form. We cannot edit the Equifax report to provide additional information unless it was a "No Hit" and needs correcting to obtain a match, as that information comes directly from Equifax. --- ### I am a landlord, cannot access the report. [I am a landlord, cannot access the report.](https://www.singlekey.com/en/knowledge-base/admin/i-am-a-landlord-cannot-access-the-report/) Date: January 18, 2023 Author: Karen Wong Content: To ensure you can access your report on our platform please note the following:1) Is your profile completed?2) Is your account verified? Did you complete a Verification?3) Has the payment been completed?4) Reports can take up to five minutes to generate. If the above applies to you but you still have trouble accessing your report, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### Account Verification [Account Verification](https://www.singlekey.com/en/knowledge-base/admin/account-verification/) Date: January 18, 2023 Author: Karen Wong Content: To verify your identity as a user, any user who signs up with us will have to complete a quick verification process.Given we work with sensitive financial information, we require all users of SingleKey to undergo a verification and anti-fraud process to avoid malicious activity on our platform. We have implemented a security system where every user has to go through a verification identity process before we can release any reports as they contain the tenant's personal financial information.To complete the verification process, ensure that your computer/laptop/mobile phone has a camera. To complete the Verification process:STEP 1: Please click on Begin verifying.STEP 2: Select the country. STEP 3: Select the type of ID. STEP 4: Upload a picture of the front and back of the ID.STEP 5: Take a selfie and submit it!If you have completed Verification and you still have trouble accessing your account, please email us at info@singlekey.com or visit us on our chatbot which is located on the bottom right-hand side of our website and we will be more than happy to assist you. --- ### Tenant Information needed for Tenant Report [Tenant Information needed for Tenant Report](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/tenant-information-needed-for-check/) Date: January 18, 2023 Author: Karen Wong Content: To run a credit and background check on a Canadian resident, we usually need their:Full legal nameAddress (as it appears on their Government ID)Date of birth SIN number and Driver’s license number are optional. To run a credit and background check on a US resident, we need their: Full legal nameAddress (as it appears on their Government ID)Date of birth Social Security Number (required).For US citizens who recently moved to Canada, the most appropriate report would be the US report, which would show the most information. We request that you use the applicant's address that would've been present on their US driver’s license and include their SSN.  --- ### Naborly x SingleKey [Naborly x SingleKey](https://www.singlekey.com/en/knowledge-base/admin/naborly-x-singlekey/) Date: January 17, 2023 Author: Karen Wong Content: SingleKey acquired Naborly! Naborly users can look forward to the best screening experience in Canada, as we merge our screening platforms. We are committed to ensuring a smooth transition for all Naborly users. Naborly users transitioned to the SingleKey Platform on November 1st, 2022.Enhanced Tenant Screening services via the SingleKey Tenant ReportGuaranteed Rental Income with the SingleKey Rent Guarantee ProgramAutomated Rental Payments with the SingleKey Rent Collection ProgramPlease find attached the link to the press release https://betakit.com/singlekey-acquires-competitor-naborly-to-take-the-risk-out-of-Additional links: https://www.singlekey.com/en/singlekey-naborly-faq/https://www.singlekey.com/en/ownerkey/announcements/welcome-to-singlekey/ --- ### What are our business hours? [What are our business hours?](https://www.singlekey.com/en/knowledge-base/admin/business-hours/) Date: January 17, 2023 Author: Karen Wong Content: Support hours are from 8 am-7 pm EST every weekday and 10 am-2 pm on Saturdays. Note our Customer Support line is  +1 877-978-1404. Phone, chat, and email support.Our Customer Success Team will be available to answer questions:Weekdays: 8 am - 7 pm ESTSaturdays: 10 am - 2 pm ESTClosed Sundays & Holidays Email us at: info@singlekey.com  --- ### How do I customize the Tenant Screening invite? [How do I customize the Tenant Screening invite?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-do-i-make-tenant-information-always-mandatory-when-filling-out-an-application/) Date: January 17, 2023 Author: Karen Wong Content: You can update your mandatory fields in your Account Settings under Report Preferences. Select Account Settings from the menu bar at the top right corner under your name.Click Report PreferencesSelect the information you want to be mandatoryClick Save at the bottom  --- ### Our Purpose [Our Purpose](https://www.singlekey.com/en/knowledge-base/admin/our-purpose/) Date: January 17, 2023 Author: Karen Wong Content: SingleKey helps landlords find the right tenant and manage the risks that come with renting. Screen tenants, run background checks, and rest assured that your rental income and property are protected with our Rent Guarantee.Whether you’re an experienced landlord or just starting out, we’re here for the long run. SingleKey is a participating Member of Rentalis Insurance Company. Reinsured with the Lloyd's Market of Global Reinsurers rated A.M, Best A --- ### Can tenants order their own reports? [Can tenants order their own reports?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/can-tenants-order-their-own-reports/) Date: January 17, 2023 Author: Karen Wong Content: If you are a tenant looking to order a report on yourself, you will want to do our “enter tenant information” option. You will have to fill in your information as both the landlord and tenant and finish creating an account to access the finished report. --- ### What are the Monthly Debt Payments? [What are the Monthly Debt Payments?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/what-are-the-monthly-debt-payments/) Date: January 17, 2023 Author: Karen Wong Content: The Monthly Debt Payments are the summed-up amount of all recurring monthly (or bi-weekly) debt payments on the credit report.The individual monthly debt payments are shown in the Tradelines Payments section below. It’s important to take these obligations into account because they will have an impact on the tenant’s disposable income and ability to pay rent. --- ### What is the Debt Summary? [What is the Debt Summary?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/what-is-the-debt-summary/) Date: January 17, 2023 Author: Karen Wong Content: The Monthly Debt Payments are the summed-up amount of all recurring monthly (or bi-weekly) debt payments on the credit report. The individual monthly debt payments are shown in the Tradelines Payments section below. It’s important to take these obligations into account because they will have an impact on the tenant’s disposable income and ability to pay rent.The Revolving Credit section represents the total amount of credit card debt an individual has incurred.The Other Credit section shows other credit (everything other than credit cards) that is under the applicant. This includes items like credit lines with banks, phone payments, etc. The Other Debt section will include the personal debts of the applicant such as personal loans taken out from financial institutions.The Automobile Loans, Student Loans, and Mortgage Loans show whether the applicant has monthly payments toward any of these respective loan areas. --- ### Are reference checks done by SingleKey? [Are reference checks done by SingleKey?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/are-reference-checks-done-by-singlekey/) Date: January 17, 2023 Author: Karen Wong Content: We send out a quick optional survey to the landlord using the contact information from the application. If completed, you can view the answers from your account.We do not verify landlord references, but you are given their contact details to do so yourself. You can learn more about rental verification here. --- ### Do I have to conduct checks on both the tenant's who are living on the same property? [Do I have to conduct checks on both the tenant's who are living on the same property?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/do-i-have-to-conduct-checks-on-both-the-tenants-who-are-living-on-the-same-property/) Date: January 17, 2023 Author: Karen Wong Content: We would advise that it is a better option to carry out a Tenant Report on both the tenants and any person whose name will be on the lease agreement, including co-signers.If they are married, and the spouse contributes to the rental income as well, we would recommend carrying out a separate Tenant Report on both parties as they have different credit files. It would be considered as two applicants hence two reports will be generated.  --- ### Our old tenants' reports missing? [Our old tenants' reports missing?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/our-old-tenants-reports-missing/) Date: January 17, 2023 Author: Karen Wong Content: Reports are auto-archived from the Landlord's account after 60 days of completion, as per compliance from the credit bureau. Please note that the reports for the applicants are backdated to when they were generated. If you wish to view a previous report, please reach out to our team at info@singlekey.com with the names of the tenants, and we will email you a copy. --- ### US public document scan is in progress - Partial/Blurred Report [US public document scan is in progress - Partial/Blurred Report](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/us-public-document-scan-still-in-progress-only-can-see-partial-report/) Date: January 17, 2023 Author: Karen Wong Content: The US court records system is quite fragmented, and sometimes the national database cannot provide all the information we'd like to receive.This triggers a state-level and county-level court records search, which sometimes requires manual intervention, which is why it may take up to 4 business days to return, although we do usually see it come back quicker. In the meantime, we will provide you with a partial report showing all of the available information until it is completed.  a few more days.  In case it has been 4-5 business days, we request that you reach out to us at info@singlekey.com, so that we can look into this for you.  --- ### When do I get charged for the report? -Tenant Invite [When do I get charged for the report? -Tenant Invite](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/when-do-i-get-charged-for-the-report-tenant-invite/) Date: January 17, 2023 Author: Karen Wong Content: We only put a hold on your card. If the tenant doesn’t complete the application, the hold will be lifted on the 5th day of your invitation. You are not charged unless the tenant completes the application. You can cancel the invitation to your tenant if it has not yet been filled out. Just click the three dots to the right of your invitation. From there, click cancel the invitation, and the hold will be released.Note: Our Application links have an expiry limit of 5 days after which they auto-expire.  --- ### Does the tenant have to give consent for Tenant Report? [Does the tenant have to give consent for Tenant Report?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/does-the-tenant-have-to-give-consent-for-tenant-report/) Date: January 17, 2023 Author: Karen Wong Content: Consent is required to run a credit check on an applicant. You will be asked to upload a consent file when entering a tenant's information. This is usually obtained through rental application forms.If you do not have a consent document, you can use our "Create Invite" option. This will collect consent from the tenant when they enter their information. Additionally, you could also use our “Pre-screening” tool to gather more information.  --- ### Will this affect my credit score? [Will this affect my credit score?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/will-this-affect-my-credit-score/) Date: January 17, 2023 Author: Karen Wong Content: As of November 2024, both credit bureaus, TransUnion and Equifax, have classified rental credit checks as soft checks. This means our Tenant Screening Report will not appear as an inquiry on a tenant’s credit file. It will also not affect a tenant’s credit score, even if they are screened multiple times in a short time period. This will apply retroactively to any rental check that was done in the past two years.As a soft check, the credit inquiry will no longer show up for lenders on the credit report. However, a rental applicant will see the inquiry on their MyEquifax portal. --- ### Who pays for the Report? [Who pays for the Report?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/who-pays-for-the-report/) Date: January 17, 2023 Author: Karen Wong Content: When it comes to paying the application fee, we have 2 options:When you select the “Create Tenant Invite” option, you have the option to choose who pays for the application. You can either have the tenant pay for it themselves, or you can pay for it as the landlord.When you choose the “Enter Tenant Information” option, please note that the application fee will be the responsibility of the landlord. It is essential to gather all the necessary information from the tenant upfront to ensure a comprehensive and accurate credit and background check. This information should include the tenant's full name, date of birth, and social security number. Failing to provide this information may result in an incomplete or inaccurate credit check, potentially exposing you to the risk of accepting tenants who may pose a higher risk to your rental property. --- ### What is the cost of the Tenant Report? [What is the cost of the Tenant Report?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/what-is-the-cost-of-the-tenant-report/) Date: January 17, 2023 Author: Karen Wong Content: The pricing is per credit check and public document scan, and there are no monthly subscription or service fees. For Canadian reports:For Equifax or TransUnion, the price will be $29.99 per applicant.For Dual Bureau reports it would be $44.99 per applicant.  For Canadian residents, you can start a new report by clicking here.For US reports, The price will be $29.99 per applicant.For USA residents, you can start a new report by clicking here.For International Credit Checks,The price will be $59.99 per applicant.You can start a new report by clicking here.Note:For US citizens who recently moved to Canada, the most appropriate report would be the US report, which would show the most information. Please use the applicant's last US address that would've been present on their US driver’s license.Some states do not allow reports to be above $20 as per state law. If this is the case in your state, please contact us to review this and set the correct price.  --- ### How can I share the invite with multiple people - Shareable link [How can I share the invite with multiple people - Shareable link](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-can-i-share-the-invite-with-multiple-people-shareable-link/) Date: January 17, 2023 Author: Karen Wong Content: If you are a landlord or property manager, you understand the time-consuming nature of tenant screening. With multiple applicants for the same property, reviewing each application can become overwhelming. Benefits of Our shareable application link:Simplifies and enhances this process by allowing you to share the tenant application with multiple individuals while tailoring it to your preferences. The shareable application link is an excellent option to include in your listing posts. By using this link, tenants will be prompted to pay for their application. You can download the application and have a hard copy of the application during your property viewing.Step 1: To access the shareable link, navigate to the 'Tenant Report' section and click on the 'Create shareable link' button.Step 2: To preview the application before sharing, please select “Preview Form”. Step 3: There are 2 ways you can make use of the feature:You can copy the application link and share it through email/text or embed it on your website as well. Alternatively, you can download the PDF document with the QR code!Note: Save time and streamline your tenant screening process by customizing the application link (Report Preferences). --- ### How to do a new credit check - "Tenant Invite" [How to do a new credit check - "Tenant Invite"](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-to-do-a-new-credit-check-walkthrough/) Date: January 17, 2023 Author: Karen Wong Content: Running a credit check is a vital process for landlords when it comes to screening potential tenants. It provides valuable insights into a tenant's financial history and helps landlords assess their likelihood of paying rent on time. With SingleKey, you can easily and affordably run credit checks on your prospective tenants. Our platform offers a seamless and efficient process, guiding you every step of the way. Here is a walkthrough process for running a tenant report on SingleKey:Step 1: Log in to SingleKey and select the Tenant Report option from the top menu. Then, click on "Order new report" on the top right corner of the page.Step 2: Choose whether you would like to:(A) Send an invitation to the tenant to fill out their information or(B) If you already have the consent form, you can enter the information manually yourself.Option A: If you choose "Create Invite" to send an invitation to the tenant:Step 1: You will need to provide their Full nameEmail addressPhone number. The consent to run a credit check will be obtained when the applicant fills out the form. SingleKey also provides an option to pick who pays for the credit check if desired. With this option, you can also make it mandatory for the applicants to include additional details such as landlord references, employment references, and proof of incomeStep 2: Select any additional information that you would like to require tenants to upload, such as proof of income, identification documents, or references, under the "Required from tenant" tab.Step 3: Enter the address of the rental unit. You can edit an address, If required as well. Step 4: Select who pays for the report and complete checkout. Additionally, you can customize the report invitation under "Account Settings" so that it is automatically applied to future credit check invitations. You can also choose whether or not to include a personalized message to the tenant.Please find attached the link for more information on how to order a report:https://help.singlekey.com/how-to-order-a-singlekey-credit-and-background-check-report/ --- ### How do I create an account? [How do I create an account?](https://www.singlekey.com/en/knowledge-base/admin/how-do-i-create-an-account/) Date: January 17, 2023 Author: Karen Wong Content: You can use this link to create an account:https://app.singlekey.com/sign-up After you enter your information, you will be asked to go through our verification process. Once your account has been verified, you can run reports. You could always call us at 1-877-978-1404 or drop us an email at info@singlekey.com, and we will be happy to assist you with setting up your account. --- ### "No Credit Hit" on Report ["No Credit Hit" on Report](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/no-credit-hit-on-credit-check/) Date: January 17, 2023 Author: Karen Wong Content: Understanding "No Credit Hit" on a Credit ReportA "No Credit Hit" on a credit report means that Equifax could not find a matching credit file for the tenant information provided. This situation can occur for several reasons, which we outline below to help you resolve it:1. Information MismatchEnsure the tenant’s details are accurate and align with their government-issued ID (e.g., driver's license). Any discrepancies can result in a "No Credit Hit."What You Can Do:Double-check the information submitted for accuracy.If you identify an error, email us at info@singlekey.com with:A copy of the tenant's driver's license.Corrected or updated information.Our team will review the application for discrepancies and guide you on the next steps.2. Lack of Credit HistoryThis issue often arises if the tenant:Is young and has not yet established credit.Is new to Canada and does not have a credit history with Equifax.Next Steps:If the applicant has no credit history, you may need to consider:Requesting additional supporting documents, such as proof of income or references.Using alternative methods to assess the applicant’s reliability.If you have further questions or need assistance, please don’t hesitate to contact our team at info@singlekey.com. --- ### How do I reset my password? [How do I reset my password?](https://www.singlekey.com/en/knowledge-base/admin/change-password-log-in-issue/) Date: January 16, 2023 Author: Karen Wong Content: Customer may encounter problems logging in from time to time  Reset Password Password can be changed on the log in screen.  2. Change PasswordHaving difficulties logging in and want to reset your password. Click "Update Password" under "setting". Here, you can enter your current password & create a new password.3. Google Log inIf you created your account by signing up with Google, you would need to continue to use the "Log in with Google" option as there is no password saved associated with your email, or update your Google password within your Google account. --- ### Where are you located ? [Where are you located ?](https://www.singlekey.com/en/knowledge-base/admin/where-are-you-located/) Date: January 16, 2023 Author: Karen Wong Content: We are a Canadian company based out of Toronto, Ontario. We serve all of Canada and offer select services in the US. --- ### How to order a Report? [How to order a Report?](https://www.singlekey.com/en/knowledge-base/tenant-report-faqs/how-to-order-a-report/) Date: January 13, 2023 Author: Karen Wong Content: To order a report, follow these steps:1. Navigate to https://www.singlekey.com/en-ca/ or https://www.singlekey.com/en-us/ and complete your account set-up.2. Once your account set-up is complete, navigate to “Tenant Reports”.3. In the top right corner of the screen, click on "Order New Report".4. On the next page, you will find two options: "Invite Tenant" and "Enter Tenant Information".Choose the option that suits your needs and proceed accordingly.Option 1: INVITE TENANT By selecting this option, you can significantly improve the rental application process. An email with a rental application form will be sent to the tenant, allowing them to conveniently provide their information. By utilizing this method, the tenant automatically provides consent to run a credit check and public document scan report, saving you time and streamlining the process.Shortly after the tenant completes the form, you will receive an email confirmation. Additionally, you can easily access and review all completed reports by logging into your account.Option 2: ENTER TENANT INFORMATIONIf you opt to manually enter the tenant's details, ensure you obtain their consent to perform a credit check and public document scan. This can be done through a rental application form. Once consent is obtained, enter the information into the system to receive a comprehensive report within 5 minutes.Note:For Canadian applicants, you need their full name, date of birth, phone number, email address, and their address.For US applicants, you need their full name, date of birth, phone number, email address, their address, and their SSN (social security number).It's crucial to highlight that conducting background checks on potential tenants is of utmost importance in ensuring the security of your property and other tenants. These reports provide valuable insights into their public document scan history, eviction records, and credit scores. --- ### Adding a payment method [Adding a payment method](https://www.singlekey.com/en/knowledge-base/admin/adding-a-payment-method/) Date: August 9, 2021 Author: Karen Wong Content: To set up payment channels on your account,Select user preferences from the menu bar.Click the Update payment information under Billing.Click Add payment and fill in the required details.After you’ve added the details, click save.Click done once you’ve finished.Tip: You can always come back and add or delete more options, by following the same steps.The different payment channels supported  are -Union PayVisaAMEXMastercardPaypalNote: We also offer cash on delivery. --- ### How do I view my profile settings? [How do I view my profile settings?](https://www.singlekey.com/en/knowledge-base/admin/changing-user-preferences/) Date: August 9, 2021 Author: Karen Wong Content: Update your account details like name, phone number, or address, anytime by following these steps:Select Account Settings from the menu bar.Click Your profile.After you’ve added the updated details, click save. ---