What You Need to Know About Rent Reporting Companies

Credit Education

June 5, 2017
2 mins read

Did you know that monthly rent payments are highly correlated with the ability to repay debt in a timely manner? And did you know that historically, rent payments were not accepted as data sources for calculating credit scores? Simply put, your on time rent payments had NO impact on your credit score! Until now…

RentReporters is helping renters like you change your credit score to change your life. We do this by reporting your on time rent payments to TransUnion, one of the three major credit bureaus.

So, if you’re looking to build or improve your score to change your life – like get approved for a credit card, buy a home or car, or rent that better apartment – do your homework on what’s required and fees to sign up for a rent reporting company. For example, we are a consumer-initiated company, meaning you – the renter – can sign up for service. Other rent reporting companies may require that both you and your landlord initiate service.

So, here’s what you need to know about RentReporters and Rental Kharma, another popular consumer-initiated rent reporting company.

Our process is simple – you pay your rent, we report it to TransUnion, and your score will likely improve. In fact, our customers see an average score increase of 35 to 50 points in 10 days!

For more information on RentReporters, visit here. 

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