This week Toronto’s Casalova, an end-to-end real estate rental platform, launched with a $50,000 Rent Guarantee for landlords.
Casalova is a platform for tenants and offers a solution to the rental process, enabling users to search for listings, book viewings, make offers, and pay their rent all through the platform. Once matched, a tenant can pay rent through pre-authorized debit, visa-debit or credit card payments all online.
Casalova is the first rental marketplace in the world to offer a $50,000 Rent Guarantee. The service is available for any residential property in the Greater Toronto Area that is owned or operated by a landlord or property manager.
“Casalova was built from our own renting experiences. We were shocked at how long, broken, and fragmented the renting process was so we set out to create a solution that worked for both landlords and tenants,” said Ray Taaeb, CEO and co-founder of Casalova. “Every landlord’s biggest fear is their tenant not paying rent, which is a loss the majority cannot afford to risk.”
Landlords who list their properties through the platform are offered the Casalova Care Package, which allows Casalova to handle the entire process of finding, vetting, and securing qualified tenants. Casalova’s proprietary algorithm matches landlords with qualified tenants by determining a Tenant Risk Score which takes into account factors that have historically been shown to predict whether a tenant is high risk or not. Everything from professional photography to showing properties and securing rent payments is handled by a team of professional Casalova agents.
With Casalova’s Rent Guarantee, every tenant booked through the platform is guaranteed for $50,000 in rent payments for the duration of the lease agreement in case the tenant defaults. Casalova’s fee to landlords for the Care Package is one month’s rent, which is only paid when a tenant leases the unit.