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SingleKey Rent Guarantee: What’s Included and How Tenants Qualify

rent guarantee, tenant eligibility, demands, BVI

Written by Cigdem Kara

Protect your rental income and rent with confidence. SingleKey’s Rent Guarantee Program helps landlords manage unpaid rent, malicious tenant damage, and eligible eviction expenses with support when you need it.
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Here’s what’s included, how tenants qualify, and what you’ll need to apply.
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What does Rent Guarantee include?

  • Rent protection: Receive reimbursement for eligible unpaid rent for up to 12 months or $60,000, whichever comes first, subject to your agreement

  • Malicious damage protection: Up to $10,000 for eligible intentional damage caused by your tenant, with a $1,000 deductible. Regular wear and tear is not included

  • Eviction support: Up to $2,000 in eligible paralegal fees for eviction services when needed

  • Two free Tenant Reports: Get a clearer picture of your applicants before choosing a tenant

  • Online rent collection: Set up automatic rent payments through Pre-Authorized Debit (PAD)

All benefits are subject to the eligibility requirements, limits, and conditions in your Rent Guarantee agreement.
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How much does it cost?

The monthly fee is 5.5% of your monthly rent.

For example, if your monthly rent is $2,000, your Rent Guarantee fee is $110 per month.
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What does my tenant need to qualify?

For a new tenancy, we review the tenant’s income, employment, and screening information to confirm eligibility.
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Key requirements include:

  • Proof of employment and income: Typically, recent pay stubs or an employment letter

  • Affordable rent: Monthly rent must be no more than 50% of the household’s gross income—the total income before taxes and deductions

  • A recent SingleKey Tenant Screening Report: Dated within the past 30 days

  • A completed rental application and valid government-issued ID

  • No recorded evictions or bankruptcies within the past three years

Meeting these requirements does not automatically enrol the tenant. SingleKey must review and approve the application.
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What is Bank-Verified Income?

Bank-Verified Income (BVI) helps confirm income using information provided directly by the tenant’s bank, with their consent.
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Rather than relying only on uploaded documents, BVI helps us check whether the income listed on the application matches deposits into the tenant’s account. It can be especially helpful for applicants who are self-employed or have income that varies from month to month.
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What documents do I need to apply?

Have the following ready:

  • The tenant’s consent, their completed rental application and government-issued ID

  • A recent SingleKey Tenant Screening Report

  • Proof of employment and income, and/or completed Bank-Verified Income verification, as requested by our team

  • A lease agreement signed by the landlord and tenant to complete enrolment

Self-employed tenant? Contact our team to confirm which income documents are needed for their situation.
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Submitting an application does not mean protection has started. Our team will confirm approval and the steps needed to activate your Rent Guarantee.
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Can I enrol a tenant who already lives in my property?

Yes, of course! Existing tenants may also qualify. Requirements can differ for tenants who have lived in the unit for 12 months or longer. Contact our team to confirm what is needed for your tenancy.
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Ready to get started?

Apply through your SingleKey account, or contact our Customer Success Team. We’ll walk you through the requirements and help you take the next step.

Support hours (Eastern Time):

  • Monday to Friday: 8:00 a.m. to 7:00 p.m.

  • Saturday: 10:00 a.m. to 2:00 p.m.

  • Sundays and holidays: Closed

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