Equifax enhances its partnership with SingleKey to revolutionize the Canadian rental sector
Toronto-based rental platform SingleKey has expanded its partnership with Equifax Canada to offer a suite of new credit and financial tools aimed at reshaping the rental experience for both landlords and tenants across the country.
The collaboration brings three distinct Equifax solutions to SingleKey customers: Credit Health, Rental Credit History, and Global Consumer Credit File.
Credit Health enables renters to monitor their credit information and gain insights into responsible financial habits, enhancing financial literacy. Rental Credit History, on the other hand, allows tenants to build their credit profiles by reporting rent payments directly to Equifax Canada, helping renters establish or improve credit history. The Global Consumer Credit File offers newcomers to Canada the ability to leverage their foreign credit history when applying for housing, improving access and reducing barriers for immigrants.
Equifax is committed to providing more inclusive financial opportunities and aims to ensure renters have the same opportunities to build credit as homeowners. The partnership is designed to break down barriers to housing accessibility and drive innovation in the rental space.
Landlords also benefit from the partnership, gaining access to the most comprehensive tenant screening reports in the industry. This enhances tenant screening and risk management tools, providing landlords with the necessary information to make informed decisions.
SingleKey processes over 15,000 rental applications per month and projects to provide free access to Credit Health to over 180,000 Canadian renters in 2025. The expanded partnership is aimed at helping renters build their credit history and potentially gain access to more housing opportunities.
Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada, emphasized the partnership's role in expanding financial inclusion. Viler Lika, Founder and CEO of SingleKey, stated that the partnership with Equifax is driving innovation in the rental space.
Renters gain tools to monitor their credit, build a stronger financial future, and improve their chances of securing housing. These solutions collectively aim to improve housing accessibility, credit transparency, and financial inclusion. The partnership is expected to benefit more than 180,000 Canadian renters in 2025 alone.
The partnership integrates Equifax's credit data and solutions into SingleKey's services, making the rental market more transparent and empowering for both renters and landlords. These innovations are designed to enhance housing accessibility, improve financial literacy, and increase credit transparency.
In conclusion, the partnership between SingleKey and Equifax Canada is set to revolutionize the rental experience across Canada, providing both landlords and tenants with the tools they need to make informed decisions and build a stronger financial future.
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