Rent Payments Are Becoming Part of the Credit Picture 4 In recent years, rent reporting has become more accessible and affordable for housing providers of all sizes. Rent reporting allows landlords to report on-time or missed rent payments to the three major credit bureaus. Positive rent reporting can strengthen an application, and where allowed, missed payments may also appear when a tenant is 30 days or more late. Landlords can also participate in rent reporting as an ongoing practice, which has been shown to encourage timely rent payments. When rent is paid on time, tenants also have the opportunity to build their credit over time.
RENT REPORTING ALLOWS LANDLORDS TO REPORT ON-TIME OR MISSED RENT PAYMENTS TO THE THREE MAJOR CREDIT BUREAUS.
Click here to learn more about how to set up rent reporting and incorporate it into your lease.
TAKEAWAYS FOR LANDLORDS Landlords who adapt their screening practices will be better positioned as eviction data becomes less reliable. While eviction searches still matter, some courts will produce fewer visible eviction judgments, making it important to look beyond a single report by calling previous landlords, verifying income carefully, reviewing collections, and using rent reporting tools. Strong screening remains one of the most effective tools landlords have to reduce risk and make confident leasing decisions.
ALEXANDRA ALVARADO Director of Marketing and Education American Apartment Owners Association
Since 2015, Alexandra has been a trusted resource for landlords across the country. In 2016, she launched the American Apartment Owners Association’s (AAOA) educational division and has since hosted and moderated over 200 webinars for thousands of landlords nationwide on topics including screening compliance, evictions, emotional support animals, and more. She curates breaking news and original content for AAOA Today, a biweekly newsletter reaching over 83,000 rental industry professionals, and for RENT Magazine. Alexandra has been interviewed by major outlets such as The New York Times, Fox News, CNBC, CNN, Business Insider, The Washington Post, Wall Street Journal, BISNOW, and Realtor.com.
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