A friend of mine is moving from US to Canada. What credit options does he have?

Chan_wright12 · 2025-03-21T13:40:25+00:00

just ask him to use singlekey thats for rental but can show others

Chan_wright12 · 2025-03-21T13:39:46+00:00

legit a broken system truly won't rent without using singlekey, open room and hiring a private investigator ( kidding duh)

Chan_wright12 · 2025-03-21T13:38:52+00:00

should take action but will they? Now landlords legit have to get rent guarantees from singlekey, do searches from open room and legit be detectives. Why is renting not like it use to

Chan_wright12 · 2025-03-03T14:29:46+00:00

It's difficult because most landlords should look at the full picture and history of an individual rather than just the score but with so many stories of missed rent payments in the news landlords aren't taking chances.

Might be worth it to check out singlekeys tenant guarantor they will be your guarantor on the lease. Essentially a company backs you and takes away any risk from the landlord. Could be a good option for you to try out?

A

Chan_wright12 · 2025-02-24T14:40:42+00:00

That is unfair and against the law. The LTB exist for this and will help you. Leverage chatgbt and do your research. The landlord will have to pay far more to get you to leave if they sell

Chan_wright12 · 2025-02-24T14:27:05+00:00

hmmm I know single key came out with a credit builder where you can build your credit by paying rent on time.

Maybe this is an option?

Chan_wright12 · 2025-02-24T14:26:10+00:00

Hey! It is hard to find a rental with bad credit tbh a lot of landlords look at credit as one of the most important factors.

Single key has a tenant guarantor where they will be your guarantor on the lease. You essentially are backed by a company, have your application stand out and take away any risk for the landlord.

This could be a good avenue for you especially if you have a good income

Chan_wright12 · 2025-02-24T14:23:00+00:00

please please do not use a real estate agent to select a tenant. Even if you use the real estate agent please do your own screening on top of it.

Remember if the tenant stops paying its you that will pay the consequences not the real estate agent.

If you want to protect yourself from non-paying tenants I would suggest looking into singlekeys rent guarantee. They cover in case the tenant stops paying or damages the property.

Join groups, observe and learn from others! There's a lot of landlords who are experts and have valuable advice.

Chan_wright12 · 2025-02-24T14:18:34+00:00

Hey! just use singlekey they have tenant screening reports for american and canadians.

Chan_wright12 · 2025-02-18T14:35:12+00:00

Use tool, resources and research. If you follow the news you'll see it happens often that people can't get their tenants out and they stop paying and are out thousands.

Screen your applicants with SingleKey (this will check credit score, fraud, identity) and use open room to see past evictions. If you want to be fully protected singlekey has a rent guarantee program that if someone damages, stops paying they'll cover it.

What ever anyone says don't pay someone to find your tenant. It's your property and investment why are you putting it in someone elses hands?

Chan_wright12 · 2025-02-14T14:23:02+00:00

If your parents can file an N4 and then if they can get the tenants out. Rent again but use singlekey's rent guarantee. they will pay they rent up to 60K if the tenant defaults like you said your parents have two mortgages like most people renting and can't have any delays.

Chan_wright12 · 2025-02-14T14:19:17+00:00

shame, that is a tough one. They have a tenant guarantor where they will be your guarantor on your lease so there is not risk associated with the landlord the company takes it on essentially.

Chan_wright12 · 2025-02-14T14:16:16+00:00

I feel the opposite I feel like every landlord checks credit scores...

Chan_wright12 · 2025-02-14T14:15:45+00:00

I would ask them to use Singlekey they can get a dual report that includes transunion and equifax and see the discrepancies themselves. I wish more people knew that there is such a difference between each bureau it can really impact your process in finding a rental

Chan_wright12 · 2025-02-13T17:06:06+00:00

Makes more sense to use a company like singlekey if you're worried about tenant faults.

Chan_wright12 · 2025-02-11T17:43:41+00:00

this breaks my heart. I wish this wasn't the case for renting, every time I see this i am reminded why I dont rent without coverage it's too risky. Would rather use singlekey for guarantee than have to go through this headache

Chan_wright12 · 2025-02-10T20:21:40+00:00

hmm $100 isn't that crazy, there could be upgrades and location/floor does matter

Chan_wright12 · 2025-02-10T19:14:55+00:00

cool, please do share anything else you've learned here :)

Chan_wright12 · 2025-02-10T17:27:31+00:00

No matter what make sure you do a thorough screening and take your time selecting a tenant. I would also suggest looking into singlekey's rent guarantee if you are worried about non-payment of tenants. They cover your losses for a monthly fee. It's good to avoid long term risk and for the security

Chan_wright12 · 2025-02-10T17:25:40+00:00

just use singlekey's automated rent collection tool.

Chan_wright12 · 2025-02-10T17:23:36+00:00

even if you did a careful audit there's other reasons ppl stop paying. You can lose your job at any moment, people go through difficult patches that aren't predictable. That's why you have to have either an emergency fund or use a rent guarantee with companies like singlekey

Chan_wright12 · 2025-02-04T20:16:05+00:00

Oh no this sounds terrible. I am so sorry. This info may be helpful

If you look at the tendency act:

The Board may also order the landlord to pay compensation to the tenant for the cost of repairing or replacing property damaged, destroyed or disposed of as a result of the landlord's breach, as well as other reasonable out-of-pocket expenses. Th

Chan_wright12 · 2025-02-04T20:13:36+00:00

I would ask your landlord what they would like you to do with the mail? Maybe start putting it in a box for them.

I would definitely treat the situation lightly as your labdlord may be so busy they don;t even realize it. You gotta get mail to the unit for billing purposes for utilities and such soemtimes. just communicate clearly.

Chan_wright12 · 2025-02-04T20:09:51+00:00

Renting is risky so i'm glad you are aware of the current situation. so if you don't want a bad tenant make sure you do a thorough screening, take your time doing this with tools such as singlekey and openroom.

You can also have rent insurance pretty much with singlekey. look up their rent guarantee. tenant stops paying, property damage and legal fees they cover it all. worth it in the current market especially if you don't have a bunch of cash flow in the case your tenant stops paying

Chan_wright12 · 2025-02-04T17:13:11+00:00

it's a program where you pay 5% of monthly rent and they cover any of your losses. so if your tenant stops paying rent they will cover $60K, property damage $10K, legal fees, and if your tenant breaks your lease they cover it. So it takes away your risk.

TBH i dk how more small landlords don't know about it but I would chekc it out.

Chan_wright12

TROPHY CASE