1. Doesn't my rent already show on my credit report?
No, your rent payments are not already being reported to
credit agencies. This misconception is further strengthened
because when you don’t pay your rent on time, or have
a landlord action against you, this is reported to the credit
agencies in the form of collections, or unlawful detainer
filing in the public records. Rent Reporters has the solution
for tenants. As a service bureau we enable any landlord
to be able to have tenant accounts reporting to the credit
agencies.
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2. Will this impact my Credit score?
When your rent payments are reported this helps to strengthen
your credit profile and will give more accurate information
for credit scoring systems to make a better evaluation according
to their individual credit criteria needs. Having your rent
account show your good payment record can only help your
credit score.
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3. How much will my score improve?
No one can predict your credit score improvement and it
will vary according to the model that is being used and
for what purpose the lender is requesting the score be given.
Every point counts and adding this account with timely payments
can go a long way to adding valuable scoring information.
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4 . How long does it take?
Usually, a verified member can see their first rent payment
on their credit report within 30 days of the final verification
of rent by our service. This means that depending on the
reporting cycle, you may have this information appear no
later than 60 days from the time you sign up for service.
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5 . I have a roommate, can we both report that?
RentREPORTERS can report the rent
payments of any person or persons on the lease.
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6 . I rent a room in a house, can I report that?
RentREPORTERS is available in all
50 states. It doesnt matter if you rent from a large property
management company or a single household owner. However,
three factors are required for RentREPORTERS to serve you.
First, you must be paying rent for a residence in the United
States. Second, you cannot live with your landlord. Third,
you cannot be related to your landlord. If you meet these
three requirements, RentREPORTERS can help you.
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7 . I pay my rent in cash, can I report that?
It doesn't matter what methoud you
use to pay, as long as you have a lease in place, and you
pay your rent on time, RentREPORTERS can serve you.
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8 . What if I move?
If you notify us of the change during
the first 6 months of being a RentReporters Client, then
a change location fee of $19.95 will be charged. Our service
will contact your new landlord and continue rating your
rent account at the new location. This will continue to
the end of the original expiration date of your present
service. There will be no further charges. Near the end
of this period you will be reminded vie e-mail prior to
your expiration date where a discounted renewal fee will
be available.
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9 . Will my landlord let me report my rent?
Your landlord likes RentREPORTERS
for a few reasons. First, they know that you are concerned
with paying your rent on time. Second, they know that by
helping you report your rent, they're helping you to a
better future. Third, they know that by reporting your
rent, it will make it easier to verify you in the future.
Everyone wins.
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10 . What do I have to do?
All you have to do is sign up. RentREPORTERS
takes care of all the verification and reportting. Your
job is to simply sit back, relax, and benefit from reporting
your rent.
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11 . Can I cancel?
RentReporters serves you. So, if
you want to cancel your reporting at anytime with us you
can. However, remember that the longer RentReporters reports
your rent payments, the better your credit report will
look to future landlords and lenders.
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