Reducing Investment Risks in Property Management

"Our focus and the way that we've taken a different approach is that instead of providing other property management tools or just another tenant screening tool, we said, 'Hey, what can we do to actually take away that risk of tenant delinquency for the landlord?'" — Viler Lika

During his time in consumer credit risk, Viler Lika started thinking about renter creditworthiness and how it impacts rental properties. In 2017 he founded SingleKey, the mission of which is to remove the common headaches of renting, and provide risk management for landlords. A major pain point for any landlord or property manager is a delinquent tenant, and while these bad tenants can cause huge issues for landlords, the occasional bad apple tenant provides a good insurance use case for a company like SingleKey.

Tune in to find out how SingleKey works (for landlords of all types), who underwrites their Rent Guarantee insurance, and how it is being used to address vacancy issues. Viler breaks down the costs of a delinquent tenant, and how SingleKey provides support for both the tenant and landlord. We hear about the worst-case scenarios for property owners, and how the COVID-19 pandemic has affected the Canadian rental market.Tune in to find out about the latest tool being released by SingleKey (an automated rental collection tool), and how SingleKey has maintained such a stellar 4.9-star rating on Google Reviews. Press play to find out more!

Key points from this episode:

Welcome to today's guest, Viler Lika, founder and CEO of SingleKey Vila's transition from engineering to finance and where the idea of SingleKey came from How SingleKey helps landlords through tenant screening and evictions Making SingleKey easy to use for landlords of all ages The cost of an eviction: more than just missed rent Why the occasional bad tenant is bad for the small-time landlord but is a good insurance use case The impact of COVID-19 on the rental property market in Canada How SingleKey is addressing the vacancy problem The underwriting underlying SingleKey and why it works as a company Playing a mediator role between landlord and tenant: how SingleKey helps both parties  Hear about the worst-case scenarios Viler has seen Why SingleKey is different from other property management and tenant screening tools: taking away the risk of tenant delinquency How SingleKey has garnered over 400 Google Reviews with a 4.9-star rating Find out about the launch of SingleKey's new automated rent collection tool The benefits of the automated rent collection tool: from credit history to tenant ratings

Links mentioned in today's episode:

Viler Lika on LinkedIn SingleKey website Viler's email address

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