Most Toronto landlords know the routine: list the unit, run showings, screen applications, hope the rent arrives on time, and start all over when the tenant leaves. Guaranteed rent replaces all of that with one simple arrangement: BookedHosts leases your unit and pays you a fixed rent on the 1st of every month, whether the unit is occupied or not.
Here's exactly how it works, what you get, who lives in your unit, and how to tell if your unit qualifies.
What is guaranteed rent?
With guaranteed rent, BookedHosts becomes your tenant. We sign a lease on your unit for a term you choose (one to three years) and pay an agreed rent on the 1st of every month. If the unit sits empty for a week, you still get paid. Your rent never depends on bookings, seasons or anything else on our side.
It isn't property management. You don't pay us a fee or a commission, and you don't split the income. We're renting your unit, and the rent we agree on is yours in full, every month.
How it works, step by step
- Apply in about 60 seconds. Tell us the address, unit type, bedrooms and condition, and you'll see the range your unit could qualify for.
- We walk the unit. If it qualifies on paper, we book a walkthrough within days, not weeks.
- You get a same-day answer. A clear yes or no. If it's a yes, your guaranteed rent can start this month.
- We sign one lease. One signature, one fixed monthly rent, one fixed term. That's the whole relationship.
- We furnish and insure the unit at our cost. Furniture, styling and insurance are on us, not you.
- Rent lands on the 1st. Every month for the full term, occupied or not.
What you get as the owner
- The same rent every month. A fixed amount on the 1st, with no vacancy gaps and no chasing late payments.
- Rent that's often a little above market. We're selective about the units we take, and the ones we take get paid a premium over what a typical long-term tenant would pay.
- No fees or commissions. Nothing comes off the top.
- No showings, applications or screening. You never have to find a tenant again for the length of the lease.
- Small repairs handled. A leaky faucet or a loose handle gets fixed without a call to you.
- Damage is our responsibility. The unit is insured and professionally maintained, and anything damaged is ours to fix.
- Full ownership and control. It's still your deed and your building, and you're never locked in past the term you choose.
- Your unit back in better shape. When the lease ends, the unit comes back professionally cleaned and inspected.
Who actually lives in your unit?
We place professionals and corporate clients who are in Toronto for a while: consultants on contract, relocating families, and people in town for work who need a proper home base. Every stay is on a signed agreement with a strict no-party policy, and the unit is kept to a professional standard because it's our product.
You can see the kind of suites our guests stay in at CareStay Suites.
Which Toronto units qualify?
We take on a handful of Toronto units each month and pass on most of the units we see. A unit is a strong fit when it's:
- Above grade. Main floor or higher. We don't take basement units.
- Self-contained, in a duplex, triplex, house, small building or a condo that allows short-term rentals.
- Bright, with real natural light.
- In clean, solid condition. It doesn't need to be furnished or styled. We handle that.
- In the right part of the city. Some Toronto neighbourhoods qualify for more than others, and the application shows the range for your area.
Unit types we look at
- Units in a duplex, triplex or fourplex
- Studios and 1-bedrooms on the main or upper floor of a house
- Laneway and garden suites
- Apartments in small buildings
- Condos in buildings that allow short-term rentals
We focus on studios, 1-bedrooms and 2-bedrooms.
A note for condo owners
If your unit is in a condo, your building's own rules decide whether it can qualify. We only take condos in buildings whose declaration and rules allow short-term rentals. If your building is long-term only, guaranteed rent isn't an option there. Look your building up in our free Toronto condo STR checker, which covers over 180 buildings.
Guaranteed rent vs. a regular long-term tenant
With a regular tenant
- You find, screen and choose the tenant yourself.
- Empty months between tenants come out of your pocket.
- Late or missed rent is yours to chase.
- Repairs and wear are on you, and every turnover means cleaning, repainting and re-listing.
With guaranteed rent
- One tenant, BookedHosts, on one lease you sign once.
- Rent on the 1st for the whole term, occupied or not.
- Small repairs handled, and damage is ours to fix.
- The unit comes back cleaned, inspected and in better shape.
The honest trade-off: you commit to a fixed term up front, and you can't move into the unit yourself during it. If you might need the unit back before a year is up, guaranteed rent isn't the right fit.
Is guaranteed rent right for you?
It's a strong fit if you own a bright, above-grade unit in Toronto, you want the same rent every month without managing tenants, and you're comfortable with a one- to three-year term.
It's not the right fit if your unit is in a basement, your condo building is long-term only, or you'd rather keep the upside of short-term bookings yourself. In that case our full-service management is the better fit, and the free revenue estimator shows what your property could earn.
Common questions
Do I pay anything?
No. There are no fees and no commissions. We're not managing your unit, we're renting it.
How long is the lease?
You choose the term up front: one to three years. You're never locked in past it.
Who's responsible for damage?
We are. The unit is insured and professionally maintained, and damage is ours to fix, handled and documented without dragging you into it.
What happens when the lease ends?
The unit comes back professionally cleaned and inspected, in better shape than it started.
How much rent could my unit get?
It depends on the unit's location, size and condition. The application shows the range your unit could qualify for in about 60 seconds, and you'll get an answer either way.
See what your unit could qualify for
If you own a bright, above-grade unit in Toronto (a duplex or triplex unit, a suite in a house, a laneway suite, or a condo in a building that allows short-term rentals), see what your unit could qualify for. It takes about 60 seconds, and you'll get an answer either way.
