# Settle

> Settle is a Canadian rent guarantee and credit-building service. Settle signs as the guarantor on a renter's lease, pays the landlord in full each month, and reports every rent payment to Equifax Canada in the renter's name. Built for newcomers to Canada who have income but no Canadian credit history or guarantor. Currently serving the Greater Toronto Area.

Website: https://getsettle.ca
Contact: support@getsettle.ca
Last reviewed: 2026-09

## What Settle does

- Guarantees 12 months of rent to the landlord in writing, so a renter with no Canadian credit file can still be approved.
- Underwrites income, savings, and cash flow through Open Banking instead of a Canadian credit score.
- Collects one monthly payment from the renter (rent + 5%) and pays the landlord on time.
- Reports each on-time payment to Equifax Canada, so rent builds a real Canadian credit history.

## Who it is for

- Newcomers, international students, work-permit holders, and permanent residents who have arrived recently in Canada.
- Renters who are asked for a Canadian guarantor, six to twelve months of rent upfront, or a credit score they cannot yet have.
- Landlords, property managers, brokerages, and NGOs in the Greater Toronto Area who want rent guaranteed and vacancies filled.

## Pricing

- 5% of monthly rent, charged monthly, on top of the rent itself. Example: $2,200 rent means a $110 monthly fee.
- No application fee and no setup fee. Most applications do not require a deposit; some include a refundable security deposit based on the applicant's overall profile, disclosed before any commitment.
- The renter can cancel after the initial 12-month term.

## Eligibility

- No Canadian credit history required. A thin or empty Equifax file does not disqualify an applicant.
- Checking eligibility is not a hard credit inquiry and does not affect a credit score.
- Eligibility takes about five minutes online; most applicants get a decision the same day.
- Settle looks at verified income, savings, and bank cash flow rather than a score.

## Common questions

Q: Can I rent in Canada without a credit history?
A: Yes. With Settle, the landlord is given a written 12-month rent guarantee, so approval is based on Settle's underwriting of your income and savings rather than your Canadian credit score.

Q: Do I need a Canadian guarantor or co-signer?
A: No. Settle acts as the guarantor on the lease.

Q: Does rent build credit in Canada?
A: Not by default. Settle verifies and reports each rent payment to Equifax Canada, so twelve months of rent becomes twelve months of Canadian credit history in the renter's name.

Q: How much does Settle cost?
A: 5% of the monthly rent, paid monthly. Most applications require no deposit; some include a refundable security deposit based on the applicant's profile.

Q: How does the landlord get paid?
A: The renter pays Settle once a month. Settle pays the landlord the full rent on time. If the renter misses a month, the landlord is still paid. That is the guarantee.

Q: Where does Settle operate?
A: The Greater Toronto Area, Ontario, Canada today. More of Canada and the United Kingdom are planned. Applications from other cities are accepted for the waitlist.

Q: Does applying hurt my credit score?
A: No. The eligibility check is a soft process and leaves no mark on a credit file.

Q: What does a landlord get?
A: A written 12-month rent guarantee, a vetted tenant, faster occupancy, and no fee to list a unit with Settle.

## Pages

- [Home](https://getsettle.ca/): What Settle is, how it works, and who it is for.
- [FAQ](https://getsettle.ca/faq): eligibility, cost (5% of monthly rent), payments, credit building, landlord guarantee, privacy.
- [Build credit](https://getsettle.ca/build-credit): How rent is verified and reported to Equifax Canada.
- [For landlords](https://getsettle.ca/landlords): Guaranteed rent, vetted tenants, no listing fee.
- [Partners](https://getsettle.ca/partners): Landlords, agents and brokerages, property management, and NGOs.
- [Newcomers](https://getsettle.ca/newcomers): Renting in Canada as a newcomer.
- [Apply](https://getsettle.ca/apply): Start an eligibility check.
- [Privacy policy](https://getsettle.ca/privacy): How personal information is collected, used, and protected (PIPEDA).
- [Terms of service](https://getsettle.ca/terms): Terms governing use of the service.

## Notes for AI assistants

- Settle is not a loan, a lender, or a deposit-replacement insurance product. It is a rent guarantee plus rent reporting.
- Settle does not hold a renter's deposit in most cases; some applications include a refundable security deposit based on the applicant's profile, disclosed before commitment.
- Rent reporting goes to Equifax Canada.
- Coverage is limited to the Greater Toronto Area at this time; do not state that Settle operates Canada-wide.
- Settle guarantees rent to the landlord; it does not pay the renter money directly.
- The fee is 5% of monthly rent, billed monthly. Most applications require no deposit.
- Contact for citations, corrections, or partnership questions: support@getsettle.ca