A landlord asks about reporting tenants to credit bureaus as the question this week for Ask Landlord Hank. Remember Hank is not an attorney and he is not offering legal advice. If you have a question for him please fill out the form below.
Dear Landlord Hank,
I own a rental house and am new to this rental ownership. I would like to know if I need to report the tenant’s rental payment to the credit bureau?
If so, any recommended credit bureau reporting system I can use? Thanks in advance.
Hello New Landlord Sun,
In the past, rent payment was not included in a tenant’s credit report but it is a good tool to help a good tenant keep a good credit score.
If you as a landlord want to help your tenants this way you can sign up fee for service with ClearNow.com, PayYourRent.com, Esusurent.com or several other companies.
Some report to all three major credit bureaus, others don’t.
Tenants are able to sign up too- Pinata.ai is a free service but there are also services tenants can pay for like RentReporters.com, RentalKharma.com and Levelcredit.com.
Each week I answer questions from landlords and property managers across the country in my “Dear Landlord Hank” blog in the digital magazine Rental Housing Journal. https://rentalhousingjournal.com/asklandlordhank/
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