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Credit Reporting Agency Now Tracking Rent Payments.
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July 13th, 2015
Credit Reporting agency Experian is now tracking rent payments to help increase your credit score. This is a win-win for both tenant and landlords who can sign up for this service. Experian in the first credit reporting agency to do so and it recently conducted an analysis that showed that on time rental payment history can increase your score.
If you are renting from a property management company ask if it reports payments data to Experian RentBureau.
If renting from an individual landlord you can sign up through a rent payment service that is working with Experian RentBureau. These services will allow for the payment and collection of your rent electronically and then you have the ability to opt-in to reporting your rental history to Experian RentBureau. The three rental payment service providers currently working with Experian are:
Note to tenants when you are signing up your bank account will be debited the same day of each month.
LANDLORDS FOR MORE ON PAYING RENT ON LINE CHECK OUT THIS ARTICLE:
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