COVID-19 Notice: We continue to offer our Rent Guarantee and Tenant Report service uninterrupted during this time.
Rent Guarantee
Sometimes even the best tenants may have difficulty making rent. Rent Guarantee protects your property and rental income so you can take the risk out of renting.
Main Benefits
Guarantee Your Rental Income
You get paid even when tenants miss their rent payments. Singlekey covers up to 12 months or $60,000 of missed rent payments.
Protect Against Property Damage
Protect your property with $10,000 of damage protection in the event of vandalism or willful damage by the tenant.
No More Headaches
Removing bad tenants is often a stressful and time-consuming process. SingleKey offers unlimited coverage of paralegal costs incurred during the tenant eviction process.
ADDITIONAL BENEFITS
Tenant Credit & Background Check
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 with pre-authorized debit. SingleKey collects your rent and guarantees you get paid on time if tenants fall behind on their payments.
Delinquency Resolution
Tough tenant? Our paralegal team will deal with bad tenants through mediation or eviction if necessary, saving you time and stress.
HoW IT WORKS
As easy as 1-2-3
Built to last
Market rated A+ by A.M. Best.
DON'T JUST TAKE OUR WORD FOR IT
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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
– Unlimited coverage of Legal Fees incurred during the eviction process
– Automatic Rent Collection via PAD
– Tenant Credit & Background Check
The program fee is 4.99% of the monthly rent, charged monthly.
We can deduct the fee when we process your monthly rent payments (optional) or we can charge your credit card on a monthly basis for the term of the lease. After the initial lease term the Rent Guarantee goes month-to-month and you can cancel by providing 30 days notice.
Since we collect the rent for you, we will know right away if the tenant hasn’t paid and we will take action to contact the tenant and collect the rent. If the tenant is unresponsive, we will continue to pay your rent for up to 12 months while working with our paralegal team to remove the delinquent tenant.
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. Signed lease agreement by the tenant
3. Proof of income in the form of recent Paystubs, T4, Bank statement or Employment Letter
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.
EXTRAS
JOIN OUR NEWSLETTER
CONTACT
- 1 (877) 978-1404
- [email protected]
- 10 Dundas St E, Suite 600, Toronto, ON, M5B 2G9, Canada
, 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.
Looking to Learn More?
Download a brochure of the Rent Guarantee Program.