Questions
Everything you might ask before you apply.
Eligibility, cost, how payments work, how credit gets built, and what your landlord receives. If something is missing, email support@getsettle.ca.
Getting started
What Settle is and who it is for.
What does Settle actually do?
Settle guarantees your rent to your landlord in writing, so you can be approved for a lease without a Canadian credit score or a Canadian guarantor. You pay Settle each month and we pay the landlord on time.
Who can apply?
Renters in the Greater Toronto Area who have arrived in Canada recently or have a thin credit file. You need proof of identity, proof of income or funds, and a lease or a place you are applying for.
Do I need a job offer or a Canadian guarantor?
No Canadian guarantor is required. We look at your income, savings, and documents together, so students, newcomers on work permits, and people between jobs are all reviewed case by case.
How long does approval take?
Checking eligibility takes about five minutes and does not affect your credit score. Most complete applications get a decision within one business day.
Which cities do you serve?
Right now, the Greater Toronto Area. If you are outside it, apply anyway and we will tell you when we reach your city.
Cost and payments
What you pay, when, and what happens to your money.
How much does Settle cost?
5% of your monthly rent, billed monthly alongside rent. On a $2,200 lease that is $110 a month, roughly 18 days of rent over a year. There is no setup fee and no application fee.
Do I still pay my landlord directly?
No. You make one monthly payment to Settle (rent plus 5%). We forward the guaranteed rent to your landlord on time, every month.
How is the payment taken?
By pre-authorized debit from the Canadian bank account you connect during setup. You approve the mandate once, get a reminder before each rent date, and can see every payment in your portal.
Is the fee refundable?
The 5% monthly premium is a service fee covering the guarantee, credit reporting, and support. It is not a refundable deposit. You can cancel anytime after the initial 12-month term.
What if a payment fails?
We check your balance before the rent date and warn you early. If a debit fails, we still cover the landlord under the guarantee and work with you on a catch-up plan.
Building credit
How paying rent turns into a Canadian credit file.
How does Settle build my credit?
Every on-time monthly payment is reported to Equifax Canada in your name, which creates and grows a real Canadian credit file from your first payment.
When will I see a credit score?
Most people see a file appear within two to three reporting cycles. Scores build gradually, so the strongest results come after six to twelve months of on-time payments.
What happens after 12 months?
You graduate. With a stronger credit profile you can move to paying your landlord directly and keep every point of credit you built with us.
Does applying hurt my credit score?
No. The eligibility check is a soft review and does not affect your score.
For landlords and partners
What the guarantee means on the other side of the lease.
What does the landlord actually get?
A written 12-month rent guarantee from Settle. Rent arrives on the same date every month whether or not the tenant pays us, and we handle the collection conversation.
Does the landlord pay anything?
No. The 5% premium is paid by the renter. Landlords and property managers pay nothing to accept a Settle-backed tenant.
Are tenants screened?
Yes. Every applicant goes through identity verification, income and document review, and bank verification before we issue a guarantee.
Can agents and brokerages refer clients?
Yes. Agents, brokerages, property managers, and NGOs can refer renters directly. See the partners page for how each track works.
Privacy and security
How your documents and bank data are handled.
Is my bank information safe?
Your bank connection is handled by our regulated payment and open banking partners. Settle never sees or stores your online banking password.
What do you do with my documents?
Documents are used only to assess your application and are stored encrypted. We are PIPEDA compliant and do not sell your data.
Can I cancel and delete my data?
Yes. You can cancel after the initial 12-month term and ask us to delete your personal data, subject to records we must keep by law. Email support@getsettle.ca.
Looking for the landlord side of the story? See how the guarantee works for landlords.
Still deciding? Start with an eligibility check.
It takes about five minutes and will not affect your credit score.
Check eligibility