We’ve updated our screening process to use SingleKey, as a way to protect our landlords!
How we’re helping Toronto Landlords have an additional layer of protection, we’ve adopted SingleKey!
If you’re a landlord in Toronto, SingleKey makes renting safer and easier, and we’ve now integrated this as part of our listing process as a way of protecting our landlords! It provides landlords the option of purchasing rent guarantee protection (covering up to 12 months of missed rent). Less stress, fewer risks, and more predictable income, exactly what every landlord wants.
What is SingleKey?
SingleKey is a Canadian platform built for landlords who want less hassle and more security. It tackles the parts of renting that cause the most stress: avoiding falsified documents during the screening stage, collecting rent on time, and protecting income if tenants stop paying.
Not all agents use tools like this, but in my experience, including SingleKey as part of due diligence makes a noticeable difference for my landlord clients. It’s not just screening tenants, it’s about reducing risk and making rentals run smoother.
How SingleKey Helps Toronto Landlords
Smart Tenant Screening
Tenant issues are usually the top headache for landlords. SingleKey helps us dig deeper than basic references and provides:
Allows us to run the Equifax credit report
Income and employment verification
Debt-to-income ratio
Rental history and background checks
Note: While SingleKey is helpful, I still call references and conduct a meeting with the tenants, as part of my due diligence process to get a clearer picture. On top of that, I cover the $29.99 screening fee (per tenant) for my landlord clients, an easy step that adds peace of mind and helps ensure you get a reliable tenant.
Automatic Rent Collection
Chasing rent payments is awkward and time-consuming. With SingleKey:
Rent is pulled automatically every month
Money is deposited directly into your account
Tenants get reminders from the system, not you
Cost: Free via PAD (Pre-Authorized Debit).
Rent Guarantee Program
This is the real safety net. If a tenant stops paying rent, SingleKey:
Covers up to 12 months of lost rent
Pays legal fees related to eviction
Cost: About 5.5% of monthly rent if paid monthly, or 5% if paid annually upfront.
Why It’s Better Than DIY Landlording
Going the DIY route often means:
Unsure about rules, regulations, procedures that best protect them
Stress chasing late payments
Risking thousands on unreliable tenants
Expensive and drawn-out eviction battles
With SingleKey, and careful oversight, we help landlords reduce these risks dramatically. It’s not just about saving time, it’s about protecting your investment and keeping your rental property reliable.
Is SingleKey Worth It for Toronto Landlords?
Short answer: yes. SingleKey addresses daily risks, helps with tenant screening, ensures rent collection, and offers protection if something goes wrong. Used as part of a thoughtful process, it can make renting far less stressful.
Ready to Rent Out Your Place?
SingleKey makes screening tenants, collecting rent, and providing rent protection easier. From my experience as a Toronto realtor, a little personal guidance goes a long way. Technology can help catch a lot of issues, but personal guidance is invaluable. Our goal is to give landlords peace of mind and make sure you find the right tenant. If you want a hand with that, feel free to reach out.
