By Renters
What is a Rent Deposit Alternative?
Renting a new apartment is a financial challenge for most Renters. Canada has a serious housing affordability issue and moving costs, new furniture and landlord deposits all add up. Instead of handing over cash to their Landlords for security deposits, Tenants can keep their hard-earned money by using a Rent Deposit Alternative product. RentHaven receives a small monthly fee from the Tenant in order to provide Landlords with a guarantee that all Tenant payments will be made. The guarantee to the Landlord is backed by a major Canadian insurer.
Rent Deposit Alternatives to are common in the US and EU – RentHaven brings an innovative solution to rental affordability and convenience to the Canadian market.
How do I sign up?
Ask your prospective landlord’s representative if they are partnered with RentHaven. Partner landlords will confirm their participation in the security deposit alternative and, with your consent, RentHaven will email you with an invitation to visit our site and to sign-up quickly and safely.
How much does it cost?
RentHaven charges a $50 start-up fee at signing and then a small monthly fee for the period that you rent the apartment. The monthly fee depends on you rent amount and where in Canada you live and will never increase once you have signed up. RentHaven works hard to keep that fee as affordable as possible. A typical fee is $10 per month.
Your rent is due to the Landlord in the last month of your tenancy as are any other normal, legal amounts owing to them.
How do I qualify?
Your application to RentHaven will ask for personal information that allows us to complete a quick credit check. RentHaven will quickly provide a quote for your review and acceptance.
How do I pay?
RentHaven is paid directly from your account at the start of each month. You will need to provide your account information at sign-up.
What if I do not pay my rent to the Landlord?
RentHaven is essentially guaranteeing your payment of rent. As per the terms of your Agreement with RentHaven, you are required to continue paying rent throughout the term of your lease with the Landlord. Should you not pay, RentHaven is entitled to pursue you to recover the unpaid rent, similar to typical consumer debt. The Agreement contains the legal requirements of both the Tenant and RentHaven.
By Landlords
How much does this cost?
The RentHaven security deposit alternative has no cost cost to the Landlord. No cost, no risk.
How do I become a RentHaven partner?
Please contact info@myrenthaven.ca to learn more about the partnership and to start offering the product to new tenants.
RentHaven manages contact with the Tenant, administers monthly payments and integrates with most property management software.
What happens if a Tenant defaults?
RentHaven protects the Landlord by guaranteeing payment of last months rent or a security deposit in the event of a Tenant default. Payment to the Landlord is made within 3 days of claim to RentHaven.
By Renters
What is a Rent Deposit Alternative?
Renting a new apartment is a financial challenge for most Renters. Canada has a serious housing affordability issue and moving costs, new furniture and landlord deposits all add up. Instead of handing over cash to their Landlords for security deposits, Tenants can keep their hard-earned money by using a Rent Deposit Alternative product. RentHaven receives a small monthly fee from the Tenant in order to provide Landlords with a guarantee that all Tenant payments will be made. The guarantee to the Landlord is backed by a major Canadian insurer.
Rent Deposit Alternatives to are common in the US and EU – RentHaven brings an innovative solution to rental affordability and convenience to the Canadian market.
How do I sign up?
Ask your prospective landlord’s representative if they are partnered with RentHaven. Partner landlords will confirm their participation in the security deposit alternative and, with your consent, RentHaven will email you with an invitation to visit our site and to sign-up quickly and safely.
How much does it cost?
RentHaven charges a $50 start-up fee at signing and then a small monthly fee for the period that you rent the apartment. The monthly fee depends on you rent amount and where in Canada you live and will never increase once you have signed up. RentHaven works hard to keep that fee as affordable as possible. A typical fee is $10 per month.
Your rent is due to the Landlord in the last month of your tenancy as are any other normal, legal amounts owing to them.
How do I qualify?
Your application to RentHaven will ask for personal information that allows us to complete a quick credit check. RentHaven will quickly provide a quote for your review and acceptance.
How do I pay?
RentHaven is paid directly from your account at the start of each month. You will need to provide your account information at sign-up.
What if I do not pay my rent to the Landlord?
RentHaven is essentially guaranteeing your payment of rent. As per the terms of your Agreement with RentHaven, you are required to continue paying rent throughout the term of your lease with the Landlord. Should you not pay, RentHaven is entitled to pursue you to recover the unpaid rent, similar to typical consumer debt. The Agreement contains the legal requirements of both the Tenant and RentHaven.
By Landlords
How much does this cost?
The RentHaven security deposit alternative has no cost cost to the Landlord. No cost, no risk.
How do I become a RentHaven partner?
Please contact info@myrenthaven.ca to learn more about the partnership and to start offering the product to new tenants.
RentHaven manages contact with the Tenant, administers monthly payments and integrates with most property management software.
What happens if a Tenant defaults?
RentHaven protects the Landlord by guaranteeing payment of last months rent or a security deposit in the event of a Tenant default. Payment to the Landlord is made within 3 days of claim to RentHaven.