Experian RentBureau, by working with electronic rent payment services, now offers property managers, individual landlords and independent rental owners with 500 or less units the opportunity to realize many of the same benefits available to larger apartment owners that currently report their rental payments.
Once you and your tenants sign up for a rent payment service, your tenants' rent payments are automatically deducted from their bank account and transferred into yours. Now you can spend less time following up with tenants to get their rent checks, waiting for checks to arrive in the mail or worrying if the check will clear.
Because tenants can opt-in to reporting their rental payment data to Experian RentBureau and their positive rental payments may be reported on their Experian credit reports, tenants have an incentive to consistently pay their rent on time. This results in landlords receiving more steady cash flow and on-time payments.
By offering tenants a service that allows them to report their rental payments to Experian RentBureau you give them the ability to build their credit history. This helps your tenants get the credit they deserve for managing the payments for the place they call home and allows you to stand out from your competition.
“In the long run, having a two-year excellent credit line for my rental payments will add value by helping me to potentially receive lower interest rates on a mortgage and car and consumer loans. I may even get a better rate on insurance premiums.”
— B. Scott, Multifamily resident
All you and your tenants need to do is sign up for a rent payment service working with Experian RentBureau. These services allow for the payment and collection of rent electronically. And as an added benefit, your tenants can opt-in to reporting their rental payment history to Experian RentBureau. To learn more about these services, visit the rent payment service providers working with Experian RentBureau:
Hear what Equity Residential, ALCO Management and others have to say about accessing and sharing rental payment data.
Learn about the benefits of accessing and sharing rental payment data.
Learn about the impact of rent reporting.
See what CNN, The Wall Street Journal, The New York Times, Multifamily Executive, UNITS and others have to say about rental payment data.
CNN’s The Situation Room reports that Experian is now including rental payment history data on its credit reports. This change could impact millions of renters nationwide.
As a landlord or small property manager, it is essential to protect yourself and screen your potential tenant's credit.
Experian Connect will let you view the personal credit reports and scores of your potential tenants who have granted you access.