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.
Find the right tenants with SingleKey and clear your path for long-term rentals.
Recover rent, fix damages, and simplify evictions with SingleKey’s Rent Guarantee.
Scale your rental portfolio and ensure cash flow with SingleKey’s risk mitigation tools.
Your peace of mind is just a few clicks away
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.
Upgrade to the Rent Guarantee program and say goodbye to dealing with missed payments, early termination, tenant evictions and legal fees.
We will collect your rent and be there every step of the way to ensure that your rent is always paid.
With our quick and simple reimbursement process, you get paid within 15 days by filing your claim if your tenant misses their rent payment.
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.
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.