Aviva Canada partners with RentHaven
Aviva Canada has partnered with RentHaven, a Canadian startup offering renters an alternative to security deposits.
As part of the partnership, RentHaven’s product, which replaces traditional cash deposits with a bond, will be backed by Aviva.
The insurer says that while alternative to security deposits are common in the US, UK, and Europe, there are currently no rent deposit alternatives in the Canadian market.
“Many renters are straining under the pressure of rising rents and trying to keep up with inflation and the cost of living. This first-of-its-kind partnership is the way of the future. We are making things easier for Canadians renting, they will no longer have to pay large upfront deposits and at the same time, protecting landlords from unpaid rent.” – Andy Armstrong, head of Developer Surety & Home Warranty, Aviva Canada.
“RentHaven is proud to offer our innovative solution to address housing affordability in partnership with Aviva Canada. The traditional model of cash deposits is antiquated and inefficient, especially at a time when pressure on renters is at an all-time high and so many are under financial strain.” – Ian MacLeod, CEO, RentHaven.