diff --git a/sftpman/model.py b/sftpman/model.py
index <HASH>..<HASH> 100644
--- a/sftpman/model.py
+++ b/sftpman/model.py
@@ -134,7 +134,7 @@ class SystemModel(object):
             errors.append(('auth_method', 'Unknown auth type.'))
         else:
             if self.auth_method == self.AUTH_METHOD_PUBLIC_KEY:
-                if not is_valid_path(self.ssh_key):
+                if not os.path.exists(self.ssh_key):
                     errors.append(('ssh_key', 'Invalid ssh key path.'))
         if not is_alphanumeric(self.user):
             errors.append(('user', 'Usernames can only contain letters and digits.'))
Perform a real key path check.