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ResidentCredit

What if you could stand out from the competition with rent payment reporting?

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Reward

Reward responsible renters and discourage late payments with ResidentCredit®. Rental payment history helps establish and build the credit history of your residents.

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Differentiate

Set yourself apart from the competition and convert more and better leads into actual residents by promoting rent payment reporting as a renter benefit.

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Attract

Appeal to conscientious residents who care about their financial reputation and want to increase their credit score.

Get the Details
Resident Credit Steps

Features

Reporting monthly rent payments to TransUnion makes it matter to your residents’ credit scores

 

Encourages residents to pay on time
Only TransUnion ResidentCredit accepts and discloses both positive and negative data. This motivates residents to pay on time and lets you see delinquencies in real time as you screen applicants — not just as collections or public records.

Everyone benefits
By paying online and on time, residents can build their credit history and see the potential impact to their credit score. As for property managers, the on-time payment incentive for residents has shown to help improve cash flow through reduced delinquencies.

It’s hassle-free
Reporting rental payment information to TransUnion is fast, easy and costs nothing.

Start Reporting Today

Partner Testimonial

“TransUnion’s rent payment reporting solution is impacting people’s lives in a positive way. Residents who report their rent payments to TransUnion are going from credit invisible to being able to get loans for automobiles or mortgages. It’s finally making someone who is renting an apartment more like someone who has an established mortgage.”

Jim Rowley, Head of RentPlus at Rent Dynamics

Quick Facts

(based on previous surveys)

26%

of residents whose payments were reported decreased their late payment rate by 26-50%

67%

of renters would choose the apartment with payment reporting in place, in case there are two identical options

9%

of consumers, reporting rental payments went from unscorable to scorable with an average credit score of 631 - placing them in the near prime score band

60

points average increase to the credit score was experienced by consumers when rent payments were included in the credit file* 
*Disclaimer: Unscorable and subprime consumer cohorts stood out with the largest credit score growth.

70%

of those whose rent payment are reported say that their scores have improved due to reporting.

Why have property managers who report payment taken the plunge?

Top reasons include:

80%

desire to help residents build credit

71%

encourage residents to pay rent on time

49%

attract residents  who are financially responsible

TransUnion is proud to partner with these rental data processors

If you’re a consumer with questions or issues related to your personal credit report, drivers history report, disputes, fraud, identity theft, credit report freeze or credit monitoring services, please visit our Customer Support Center for assistance.

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