My tenants want to build their credit history, how do they do that?
Tenants can choose to report rent payments to help build their credit history. Here's how:
1. After a landlord sets up a new payment and the tenant accepts, there will be an option for the tenant to opt-in to build credit history on the same page where they can view their payment details.
2. The tenant clicks 'Enroll' to get started and a box will pop up.
3. After a tenant sets the status to 'On', rent payments will automatically be reported each month to Experian RentBureau. Experian will then include rent payments reported by Rentler to Experian RentBureau in credit reports.
How it works:
We’ve collaborated with Experian RentBureau to enable tenants to opt-in to have rent payments reported. Once the tenant opts-in, rental payment data will be reported by Rentler to Experian RentBureau. Experian includes rent payments reported to Experian RentBureau in credit reports. These reports are used by banks, financing companies, and more to determine a consumer’s eligibility for loans and opening credit accounts.
Note: To turn off credit reporting, a tenant can click 'Manage' and then switch the status to 'Off'.