Equifax forges broader alliance with SingleKey, aiming to revolutionize the Canadian rental sector.

In a move aimed at enhancing housing accessibility and financial literacy, Toronto-based rental platform SingleKey has partnered with Equifax Canada to introduce new credit and financial tools.

Through this partnership, more than 180,000 Canadian renters are projected to gain free access to Credit Health by 2025. This tool enables tenants to monitor their credit information and gain insights into their financial habits, thereby helping them build a stronger financial future.

Renters will also benefit from the Rental Credit History service, which reports rent payments directly to Equifax Canada, thereby allowing them to build their credit profiles. This integration offers landlords access to the most comprehensive tenant screening reports in the industry, ensuring a secure and reliable rental process for all parties involved.

Viler Lika, Founder and CEO of SingleKey, stated that the partnership with Equifax is driving innovation in the rental space. Rebecca Oakes, Vice President of Advanced Analytics at Equifax Canada, emphasized the integration's role in breaking down barriers to housing accessibility.

SingleKey currently processes over 15,000 rental applications per month, and the partnership will bring three Equifax solutions to SingleKey customers: Credit Health, Rental Credit History, and Global Consumer Credit File. The latter allows newcomers to leverage foreign credit history when applying for housing in Canada.

The partnership aims to ensure renters have the same opportunities to build credit as homeowners. Equifax Canada reaffirms its commitment to financial inclusion through this collaboration with SingleKey.

SingleKey's goal remains to make the rental market more transparent, accessible, and empowering for both renters and landlords. The company's leadership details are not provided in the information available. However, Viler Lika's statement underscores the partnership's potential to revolutionize the rental industry.

In conclusion, the partnership between SingleKey and Equifax Canada is set to bring significant changes to the rental market. By providing renters with tools to build their credit profiles and landlords with comprehensive tenant screening reports, the collaboration is poised to increase credit transparency, improve financial literacy, and enhance housing accessibility.

Equifax forges broader alliance with SingleKey, aiming to revolutionize the Canadian rental sector.