What is rent reporting?
Rent reporting is a great feature that reports your rent payments to the credit bureaus and helps to build your credit history and build your credit score. When you pay rent through the system, your payments are reported to the following credit reporting bureaus in the US:
You can build a credit history with rent payments. Ongoing reporting of your on-time payments helps to establish your good record. Higher scores mean access to better properties.
Please note! Make sure you have written your full name as it is on your legal documents.
If you are a tenant who lives in the US, you can enable reporting to credit bureaus for the active shared lease with monthly recurring rent invoicing. The report to credit bureaus functionality is strictly connected to the recurring transactions listed on the lease.
You can enable rent reporting for future rent payments only. Past leases and invoices would not be taken into account.
You will be automatically charged $6.95 on the 21st of each month to report the rent payment to the following credit bureaus.
Please note! Both positive (paid) and negative (unpaid) rent payments are reported to Credit Bureaus. The system sends a feed to the partners on the 22nd of the month with the invoice status at that moment. Your landlord and you will want to make sure that all the necessary invoices are marked as paid by the 21st of the month at least.
Please note! This feature is only available for residents of the US.
Apr. 27, 2023