The growing barriers to traditional homeownership have made becoming a homeowner an impossible goal for far too many. With a significant portion of the population locked out of this opportunity, it’s time to look towards innovation.

At Key, we believe in building innovative solutions that truly address the needs of both aspiring buyers and property owners, so  everyone can prosper from real estate.Through our tech-enabled co-ownership model we’ve developed the world’s first all-digital, on-demand homeownership platform to create a third, hybrid option beyond traditional homeownership and renting.

How Key benefits Owner-Residents

For aspiring homeowners, Key’s model removes the two largest barriers to traditional ownership; saving enough to put down a large down payment and the need to qualify for a mortgage. Co-ownership serves as a more accessible and flexible option than owning the traditional way.With co-ownership, instead of spending at least a decade saving for the recommended 20% down payment, you can start owning with a much smaller initial investment. With Key, it starts at just 2.5% of the value of your home, depending on the building you’re in (this is around 10-15k for most of our suites!). Plus, with no mortgage required, you don’t need to worry about servicing your debt and rising interest rates, or being locked into a long-term commitment.

For aspiring homeowners that are stuck renting, co-ownership offers a number of benefits over renting, such as the ability to build home equity, improved security of tenancy and the ability to decrease your monthly payments. You can learn more here. Our hybrid model allows aspiring homeowners to have the benefits of owning while still maintaining the freedoms typically only available to renters, making it one of the best alternative homeownership models for first-time homebuyers.

How Key benefits Property Owners

Property Owners benefit from Key’s model in a number of important ways.

For one, we make the experience of co-ownership seamless and easy for you, right from the beginning.We source higher quality residents faster, reducing vacancy costs. From there, Key’s digital platform simplifies the process of managing tenant background and credit checks, automated resident onboarding, property management, and more all in one place. This saves our Property Owner partners both time and resources.

With Key’s tech-enabled co-ownership model, property owners also benefit from offer configuration, and automated monthly payments, and rich monthly reporting. Property owners benefit from better residents with Key. As co-owners, the residents are incentivized to treat the home like their own, which makes it easier and lowers the risk for property owners. The owner-residents also stay longer and share pro-rata in repairs and maintenance, which delivers lower OPEX and vacancy for property owners.

Finally, with Key, Property Owners are able to benefit from faster and easier capital turnover. Instead of the traditional all or nothing approach to selling real estate, with co-ownership you are able to gradually sell home equity with tax deferred deposits that can be deployed in other investments sooner.

Aligning the needs of Owner-Residents and Property Owners

At Key, since day one our mission has been to create a world where real estate is a source of freedom and prosperity for everyone. And our co-ownership model is working to do just that. By creating a model that is two-sided versus an all or nothing approach, like the traditional mortgage model, we are giving both aspiring homeowners and property owners the opportunity to benefit from real estate. If you’re a property owner who’s looking for more information on our model, you can learn more about how Key works with Property Owners and the Financial Benefits for Property Owners here. And for aspiring homeowners, learn more about what it means to co-own your home and if co-owning makes sense for you.

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