Connecticut Real Estate and Green Build Blog.

Increase your Credit Score with Online Rent Payment.

Increase your Credit Score with Online Rent Payment.

Experian RentBureau

Experian Credit Reporting agency is now tracking rent payments to help increase your credit score. Experian in the first credit reporting agency to do so and it recently conducted an analysis that showed that on time rental payment history can increase your score.

If you are renting from a property management company ask if it reports payments data to Experian RentBureau.

If renting from an individual landlord you can sign up through a rent payment service that is working with Experian RentBureau. These services will allow for the payment and collection of your rent electronically and then you have the ability to opt-in to reporting your rental history to Experian RentBureau. The three rental payment service providers currently working with Experian are:

ClearNow

WilliamPaid

RentTrack

Out of the three companies participating in this WilliamPaid is FREE for electronically debit bank account payments, ClearNow and RentTrack have monthly fees.

 

Note to tenants when you are signing up your bank account will be debited the same day of each month.

 

LANDLORDS FOR MORE ON PAYING RENT ON LINE CHECK OUT THIS ARTICLE:

https://www.rentapplication.com/39-ways-to-accept-rental-payments-online/

 

 

Assisting Home Buyers & Sellers with step by step guidance in Fairfield County, Connecticut contact DMK Real Estate, Darien, Ct.

David Popoff
Connecticut Licensed Real Estate Broker
Realtor® Green
Seller Representative Specialist
Accredited Buyer Representative
candidate
LEED AP Homes

 

DMK Real Estate, Darien, CT.
Cell (203) 228-0646
DMKrealestate.com

 

 

 

DMK Realty, 06820 

 

 

 

 

Facebook    Twitter    Linked in

 

 

 

  AFFILIATED ORGANIZATIONS

click on logo to go to website

 

                                           

                      

 

 

 

Find David Popoff Ct on Google+
Comment balloon 5 commentsDavid Popoff • August 11 2014 02:59PM

Comments

I had no idea about the rent payment service that records credit history.  Great option for youngsters building credit!

Posted by Angela Griffith (Downing Frye Realty, Inc.) over 4 years ago

This is a great idea and service for the rental industry...a win win for all.

Posted by David Popoff, Realtor®,SRS, Green ~ Fairfield County, Ct (DMK Real Estate ) over 4 years ago

WOW!  This is HUGE for renters to help with securing a mortgage in the future.  Makes you wonder what took so long doesn't it?

Posted by Karen Mathers - Vero Beach FL, When it Matters, Choose Mathers! 772-532-3221 (Keller Williams Vero Beach) over 4 years ago

This is great information for the FTHB. My underwriter is always asking for proof of rental payments. This would serve to establish payment and credit history for the borrower.

Posted by Jerry Wilson, California Loan Officer (Paramount Residential Mortgage Group) over 4 years ago

Very nice, This could be a lot more helpful to a borrower/buyer than simply collecting cancelled rent checks. If they don't have a lot of debt reporting and now this gets introduced to their credit report, this could be a big boost to their score and ease of getting approved.

Posted by Jason Potrzeba, Mortgage Banking Officer (Webster Bank) about 4 years ago

Participate