FAQs.

How it
works.

01

What do I actually own?

You co-own the suite you live in, and you can stay there as long as you want. If you decide to move, you can do so easily, and with only two month's notice.

 

And because we’re co-owners, we’ll take care of the 6-8% in moving costs typically required with traditional homeownership.

02

Where does Key operate?

We're starting in Toronto in fall, 2020, and then scaling globally. We're thrilled with the high interest in Key. So, to meet the demand, we’re buying existing suites in premiere condominiums in downtown Toronto. Plus, we're offering an option for people to find a suite they love in Toronto and we'll co-own it with them.

We’ll also have $1B in residential real estate to create buildings from the ground up in Toronto. Everyone living in these Key communities will be an owner-resident.

03

Are the suites RRSP eligible?

Yes. We're on track to enable first-time buyers to access their RRSP for the initial investment of 15k or 2.5% of the suite's value.

04

What’s stopping other investors from buying units and renting them at a higher rate?

Our strict social policies ensure that Key Suites do not become secondary income properties for people simply looking to buy in order to rent out. Everyone who lives in a Key building is an owner-resident, like you.

05

What’s the minimum initial contribution if I want to move in?

It only takes 15K or 2.5% of the suite's value to become an owner-resident.

So, if you're interested in living in a suite valued at $600,000, your initial home equity investment would be $15,000. If the suite is $500,000, your initial investment would be even less ($12,500). And you don't need to commit to a mortgage.

06

Can I contribute more to start?

Absolutely. And the more home equity you own, the less you pay to live in your gorgeous suite each month.

07

Does my monthly payment add to my equity?

Yes. Each month $50 of your monthly payment goes towards growing your equity in Key. The rest of the monthly payment covers important things like maintenance costs, shared building expenses, and property taxes.

08

Can I contribute more on a monthly basis?

Yes, and we encourage it. You can roll in a monthly contribution, adding it to your monthly payment. Even a little extra each month goes a long way over the years.
 
Try our home equity calculator to see how adding to your equity impacts your monthly payment.

09

Are dogs allowed?

Only the cute ones. So…all dogs, yes.

10

What does my monthly residency payment cover?

Since you own a portion of the suite, the monthly payment covers rent for what you don't yet own. The majority of this payment covers the typical costs of living in your home -- important things like maintenance costs, shared building expenses, most of the utilities, and property taxes. Plus, $50 of your monthly payment goes towards growing your equity in Key.

 
The amount you pay is reduced based on your initial investment. Each time you invest more equity, your monthly residency payment is reduced.

11

How does Key make money?

Key makes money a few ways. First, we're building equity in the real estate, just like you. We will also make money through professional property management and by driving greater efficiencies in how the suites are managed. Plus, Key is developing a digital exchange and curated marketplace that will benefit our owner-residents.

12

Is there a waiting list for the suites?

Yes. We created a Keychain program to meet the high level of demand. It allows you to hold your place in line. It's filling up fast, so contact us today if you're interested.

Learn more about building home equity with Key.