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Rent Guarantee

Protect your rental income against tenant default with a flexible solution combining rent guarantee insurance, legal assistance and damage protection.

About

Tenants stop paying their rent for plenty of reasons — job loss, relationship turmoil, health issues, cash flow problems, — and the list goes on. SingleKey’s Rent Guarantee acts as your safety net if your tenant doesn’t make rent. With our Rent Guarantee program landlords eliminate the significant risk and loss due to rent arrears, eviction costs and property damage.

What’s Covered

What does rent guarantee cover?

tenant background check and verification services

Guaranteed rental income for up to 12 months & CAD $60,000

tenant verification services

Lease break protection for up to 30 days until you find a new tenant

tenant background check and verification services

Property damage protection up to $10,000

tenant background check and verification services

$1,500 coverage of eviction legal fees incurred

tenant background check and verification services

Parallegal team hired to handle eviction process if necessary 

landlord rent guarantee insurance

Automatic rent collection via pre-authorized debit

Why Do I Need Rent Guarantee?

Because dealing with Delinquent Tenants
can be very costly

Landlords will lose an average of $12,000 when going through a tenant eviction.*

In most provinces, it takes 4 months to evict a tenant.*

Legal, court and bailiff fees for an eviction will add up to $1,250 on average.*

Testimonials

What our clients are saying

Play Video

Norman - Landlord

Find the right tenants with SingleKey and clear your path for long-term rentals.

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Joe - Landlord

Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee.

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Raza - Landlord

Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools.

Process

Your peace of mind is just a few clicks away

How Our Rent Guarantee Works

01-

Screen Your Tenants

Invite your tenants to apply online and receive a detailed report including an Equifax credit check, income and employment history, criminal records, a social media scan and more.

02-

Guarantee Your Rent

Upgrade to the Rent Guarantee program and say goodbye to dealing with missed payments, early termination, tenant evictions and legal fees.

03-

Enjoy Hassle-Free Renting

We will collect your rent and be there every step of the way to ensure that your rent is always paid.

How to place a claim

Submit your claim

With our quick and simple reimbursement process, you get paid within 15 days by filing your claim if your tenant misses their rent payment.

LEARN MORE

Why Singlekey

We protect your rental income
from unreliable tenants

Get reimbursed right away in case of non-payment of rent with no deductibles

From single family rentals to 1000+ unit properties and everything in between

When tenants break the lease, we will cover the rent for up to 60 days until you find a new tenant

Who’s behind my coverage?

Backed by Lloyd’s of London

SingleKey is a participating member of a Protected Cell Captive insurance company that is 100% re-insured within the Lloyd’s Market, rated A+ by A.M. Best.

Reviews

Landlords are renting
safely with SingleKey

Dale Hughes
Dale Hughes
May 26, 2022.
Excellent service from this company. The reports came quickly and a representative followed up to make sure I had all of the information that I was looking for. I highly recommend Singlekey’s background check.
Amit Chakraborty
Amit Chakraborty
May 18, 2022.
Really good experience in using the service. Obtaining the credit history was painless and even got the reference at the same time!
J Wasney
J Wasney
April 10, 2022.
I used Single key for a background check and it has helped me find higher quality, more financially stable tenants. I have been using Single Key's rent guarantee and automatic rent collection for almost a year now too. The tenants like it because they never have to worry about forgetting to pay the rent and as a landlord, it's really worth it because I never need to worry about nonpayment of rent. Humans can forget but Single Key does not! 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.
don ost
don ost
March 29, 2022.
Thank you for your great service. I experienced some problems with getting through but they were at my end. Your service people were great in assisting me with my difficulty. This is a great and necessary service for landlords in Ontario or any where. I have just got rid of a nightmare tenant who was a brother of a "friend" . Don't ever accept a tenant without a tenant check. A Single Key tenant check is A1 excellent. Thank you so much.

FAQs

Your Rent Guarantee Questions Answered

The Rent Guarantee program includes:

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

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.

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

To start the Rent Guarantee we need the following documents:

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

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

3. Valid signed lease agreement

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

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

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.

Ready to Guarantee your Rent?

Click for the BBB Business Review of this Screening - Tenant in Toronto ON
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The SingleKey Rent Guarantee coverage is provided by Lloyds Lloyds Crest Lloyds, rated A+ by A.M. Best. Coverage is offered in the form of a surety performance bond. SingleKey is a participating member of Protected Cell Captive insurance company that is one hundred percent reinsured within the Lloyd’s Market rated A+ by A.M. Best. 

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