Rent Reporting to help build credit.
Ongoing Reporting Only
Reporting ongoing payments is similar to opening a new credit card account. It takes a few months of reporting activity for your score to increase.
This is because the credit scoring model sees this as a new account and no history established yet to reward you for your on-time payments.
On average you will see a 29 point increase after the 2-3 months of ongoing reporting. You will see continued growth into the future.
Past & Ongoing Reporting
The best of both worlds
You get quick results for your past payment history
Average score increase is 40 points when you report 2 years of past history
Continue to build credit into the future
Renters that report 2 years of past history and 1 year ongoing see 100+ point increases on average.
You are only eligible to report if any of the following apply
1. You pay rent to a property management company.
2. You pay rent to a landlord, the landlord must be the owner of the property.
3. You pay rent to a family member, the family member must be the owner of the property.