3 minutes

Key's co-ownership model vs. renting for Property Owners

Key
03/29/2023
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The inaccessibility of homeownership is a significant and growing global issue, with so many of us locked out of homeownership, now more than ever we need new solutions to help Canadians start owning again.

At Key, we believe innovation is central to creating more accessible options in real estate. We’ve created a co-ownership model for homeownership that allows both property owners and aspiring owners to benefit from real estate.

Key’s Homeownership-as-a-Service (HaaS) technology creates a co-ownership platform that turns renters into Owner-Residents, while helping Property Owners achieve up to 10% better returns.

How Key works for Property Owners

Key is the world’s first all-digital on-demand homeownership platform. Through our technology platform we source, qualify, match and initiate ownership between the Property Owners and Owner-Resident.

For an initial investment that starts at 2.5% the Owner-Resident becomes a co-owner by signing a forward purchase agreement with the Property Owner while being the sole resident of their home. 

Key differs from renting for Property Owners in a few important ways. Here are some of the key differences.

Better residents

As a property owner, one of the main challenges that comes with managing a rental property is finding the right tenant. After all, having a bad or delinquent tenant can be a landlord's worst nightmare.

With Key, you won’t have to worry about bad or delinquent tenants. We source high quality residents faster, reducing vacancy costs, turnover and R&M costs. Owner-Residents are incentivized to treat their home like their own, making it easier and lowering the risks for property owners.

Lower vacancy rates

With Key, our Owner-Residents stay longer because they are co-owners in the home. 

Shared repair & maintenance costs

Unlike renting where Property Owners take on the cost of repairs and maintenance, with Key, both co-owners share pro-rata in repair and maintenance costs. 

Incremental liquidity

With Key, Property Owners benefit from easier and faster capital turnover. With co-ownership you are able to gradually sell home equity with tax deferred deposits that can be deployed in other investments sooner.

A hassle-free process

Key makes the experience of co-ownership seamless for Property Owners. All Owner-Resident sourcing is managed by Key (and, for many of our Property Owners, we also manage repairs). Key’s digital platform handles tenant background and credit checks, monthly payments, property management and asset reporting.

If you’re a Property Owner interested in learning more about co-ownership as a solution for you, you can learn more about the financial benefits of co-ownership for Property Owners here or get in touch with our team today. 

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