Consumers tend to prioritize payments for items reported to credit bureaus, such as car loans and credit cards, as late payments can adversely impact their credit scores. Consequently, when landlords or property managers report rental payments, tenants are more inclined to make timely payments. Research indicates that incorporating rental payment reporting significantly reduces instances of late payments and delinquencies.

Moreover, recent surveys indicate that the majority of today’s renters prefer landlords who report rent payments, recognizing that timely payments can positively impact their credit scores. Therefore, rent payment reporting becomes a valuable service that attracts responsible, credit-conscious tenants to your properties.

More than 45 million adults in the United States fall into the category of “credit invisible,” lacking a substantial credit history. This demographic primarily includes immigrants, minorities, and households with low to moderate incomes. Additionally, there are approximately 44 million renting households and around 110 million renters facing financial challenges.

Traditionally, rent payments have not contributed significantly to credit building, unlike the impact of mortgage payments. This traditional approach puts renters at a disadvantage when attempting to enhance their credit profiles and secure financing for significant investments such as a car, home, or education.

Policy changes enabling the reporting of rent payments to credit bureaus began around 2013. In recent years, this practice has gained momentum, with TopLine playing a pivotal role in promoting wider acceptance of rent reporting for credit benefits.

Consequently, rent reporting is now recognized as an equitable and inclusive solution, allowing renters to establish credit by consistently paying their largest monthly expense—rent—on time.

Moreover, recent surveys indicate that the majority of today’s renters prefer landlords who report rent payments, recognizing that timely payments can positively impact their credit scores. Therefore, rent payment reporting becomes a valuable service that attracts responsible, credit-conscious tenants to your properties.

Yes. The federal Fair Credit Reporting Act (FCRA) and consumer protection and privacy laws enable landlords to report to Credit Bureaus without obtaining consent, so long as the information provided is accurate and complete, and tenants’ disputes of the accuracy of furnished information is investigated as required by law.

For reporting purposes, it is necessary to have a tenant’s date of birth (DOB) and/or Social Security Number (SSN). In certain instances, providing the last four digits of the SSN is satisfactory.