The Rent Tracker is an approved credit reporting company dedicated to multifamily property owners and management companies.
The Rent Tracker reports tenants’ monthly rental payments (positive and negative) to the major credit reporting agencies (CRA).
*We anticipate that by April 2024 we will report to Experian®
as part of the “Premium Plan”.
of nonreporting property managers would begin reporting in order to attract renters who pay on time.
increase in the number of property managers who said they reported rent payments to credit agencies in 2022.
of those that don’t report rent indicated they were in the process of setting it up or were already doing so through a third-party data provider.
of those whose rent payment are reported said that their scores have improved due to reporting.
of Millennials saying they’d be at least somewhat interested in having rents reported.Â
of Gen Z and 64% of Millennials said they’d prefer a property manager who reports their rental payments.
Unlike mortgage payments, rent payments (or the lack thereof) have generally only been included in your credit in the event of nonpayment that a landlord might report. In other words,...
More than one-third (36%) of property managers who are aware of the practice of reporting rent payments to credit reporting agencies do so. The finding comes from new research from...
According to a recent study by TransUnion, renters in their 20s and 30s want their landlords to report rent payments to the major credit bureaus. The main reason: Gen Z...
Regardless of your current management platform, we will work with you to guarantee a smooth rent reporting process
Join the long list of owners now experiencing the economic benefits of rent reporting
“In at least the last five years, this is by far the best and most effective service I have ever subscribed to”
“We have engaged services with The Rent Tracker in August 2022, the money spent has been the best investment ever. Our monthly distributions have increased significantly…Every landlord in the USA should be using this service.”
Tenant Notification: After the contract is signed, and before beginning to report, the landlord is required inform all tenants, 30 days in advance, that the owner will begin reporting to the credit agency. We have a simple form letter to provide to you. This will keep us in compliance with the Fair Credit Reporting Act.
Reporting Setup & Test: We are fully integrated with the most commonly used management software which makes for a seamless and effortless reporting process. If you are using a management software that we are not yet fully integrated with, it is a very easy to produce the data required to report in a format that we can use. We then conduct a test to ensure proper integration.
Compilation and Submission: We compile the date and report all the tenants in your portfolio to the credit agencies.
Our experienced service team will work with you to roll out the service and start experiencing the clear economic benefits of rent reporting with Renttracker
Consumers typically prioritize payments for expenses that are reported to Credit Bureaus; i.e., car loans, credit cards, etc., since late payments can negatively affect their credit score. Consequently, when a landlord/property manager is reporting rental payments, tenants are more likely to pay on time. Research has proven that implementing rental payment reporting has dramatically decreased late payments and delinquencies.
Furthermore, recent surveys show that most renters today are more likely to rent from a landlord that reports rent payments, as timely payments can help them improve their credit score. Thus, rent payment reporting is a service which can help attract more 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.
A tenant’s DOB and/or SSN is required for reporting. In some cases, the last four digits of the SSN is sufficient.
TRT is an approved API integration partner with many of the leading PM software programs, including:
Yardi Voyager
Entrata
ResMan
Remote Landlord
Rent Manager
RentRite
(Realpage – coming soon)
Below is a partial list of additional PM software programs that we have report customization available:
Appfolio
Buildium
MRI
Yardi Breeze
We report to TransUnion® Equifax® and Innovis®. We anticipate that by the end of the first quarter of 2024 we will report to Experian® as well.
There is no minimum! We service clients of all sizes.
We have a dedicated dispute department whose function is solely to investigate and resolve consumer credit disputes expeditiously within FCRA regulations, with minimal involvement from the landlord/property management office.
Together, the Renttracker team has over 100 years of experience in the Real Estate Industry
Contact us today and capitalize on the benefits of rent reporting.Â
