At Key, our mission is to create a world where real estate is a source of prosperity and freedom for everyone. We believe there is a way  to deliver the key benefits of owning, such as building home equity and security of tenancy, without the large barriers of traditional homeownership such as the need to take on a large mortgage and a massive amount of debt, or sacrificing the freedom typically only available with renting. 

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We are proud to have created a model that enables the benefits of owning with the freedom of renting, so that more Canadians can prosper from real estate

Start owning years sooner

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Instead of spending decades saving up for a 5-20% down payment, with Key you can start owning and building equity many years as sooner, For as little as 2.5% of the value of your home, which is approximately 15k for most of our properties you can start owning and living in your home. 

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Build home equity that suits you with ease

‍One of the most important benefits of Key compared to renting is that Key’s co-ownership model enables you to build home equity from day one.

Like with traditional homeownership, as a co-owner you have an equity position starting from day one that can grow in value over time. You can contribute more to your equity at any time, and the more you own the less you pay monthly. 

Key makes the process of building equity seamless. As an Owner-Resident with Key, you have access to your own personal dashboard which allows you to view the value of your home on a month-over-month basis and contribute to your equity.

Increased security of tenancy

One of the challenges renters face today is the possibility of their owners evicting them. With co-ownership, both of the co-owners are signed to a predetermined term, which provides security of tenancy and predictable monthly payments. 

After the end of the initial term, the Owner-Resident has the option to purchase the unit the conventional way with a mortgage, but this is not a requirement. They can continue to co-own and add to their equity over time. If the Property Owner wants to sell, the Owner-Resident has the first option to buy the home. If they decide not to, then Key can buy it, in which case the Owner-Resident can continue to co-own. If neither the Owner-Resident or Key is ready to buy the home, the Property Owner can then sell it on the open market. 

Once it’s sold, the Owner-Resident will get all their investments back, plus their portion of how the value of the suite appreciated while they lived there. In this situation, the Property Owner must give the Owner-Resident six months' notice, so they have lots of time to decide where they want to live next. During that time, if the Owner-Resident wishes to continue co-owning, Key will do everything they can to help them find another Key home to co-own.

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No need to worry about a mortgage

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Something that’s unique about Key’s model is that you are never required to qualify for a mortgage. This allows you more financial flexibility, as well as removes one of the largest barriers to traditional homeownership, something that can be especially hard for those who are self-employed. 

Freedom and flexibility

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Part of Key’s mission is to help enable freedom and flexibility for our Owner-Residents. By eliminating the need to take on a mortgage, our model allows for frictionless moving after the first year. 

Once you are ready to move out of your suite, after your first year you simply give us 75 days' notice and, based on the value of your home, you will receive your home equity and your portion of appreciation if the value of your home has increased during your time living there. 

Key's model also saves the hassles and many of the costs involved with buying and selling traditional real estate.

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A budding community

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Another perk of Key? Access to our budding community of Owner-Residents!

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Community means a lot to us, whether it’s the physical community you’re residing in or a community of minded people. At Key, we are committed to creating a welcoming community, and connecting our Owner-Residents with one another through the events we host. We strive to create an inclusive  community where everyone is welcome and celebrated. 

If you’re an aspiring homeowner interested in Key’s co-ownership model as a solution for you, you can learn more about if co-owning makes sense for you or book a call with someone on our team. 

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