Your tenants can build or improve their credit score by having their on time rent payments reported to the credit bureaus – and tenants who know this are more motivated to pay their rent on time, each month.
If you’re a property manager, we can help you by working directly with you to confirm on time payments and verify the identity of your tenant. We do this by:
- Your tenant signs up for a RentReporters account
- We contact you to verify their on time rent payments
- We report your tenant’s payment to TransUnion
- Your tenant’s score will most likely increase by 20-30 points in 15 days or longer
Your role as a property manager is important in this process, as your tenant’s rental history needs to be independently verified in order to be reported to TransUnion. We won’t need much of your time— the verification process takes place in a short 5-minute call. During that call, we confirm that you are the property manager and then we ask you to verify the amount of rent paid, the date it was paid, and if rent was paid on time.
Together, we can motivate your tenants to pay rent on time to build or improve their credit score.
For more information, visit our Ambassadors page.