Until recently, longtime tenants who regularly paid their rent on time could not use those payments to prove that they are reliable renters. Prospective landlords could not look at the applicant’s credit report and see a rent history. Read About the New CA Law & Benefits to Landlords Nationwide A person paying $1500 a month for their apartment over a period of 20 years would have paid $360,000 in rent. That’s a number that can significantly increase a credit score and influence a landlord’s decision to rent to them. For some, rent payments are the only way for credit invisible consumers to have any credit history with the three nationwide credit reporting agencies, TransUnion, Experian and Equifax. For years, property managers and renters alike have wanted a way to include on-time rent payments as part of a tenant’s credit report. Now, companies like FrontLobby are making it possible to report rent payments, both positive and negative, to the credit bureaus to be included in most credit reports. RENT PAYMENTS CAN NOW IMPACT CREDIT SCORES:
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