Increase your Credit Score with Online Rent Payment.

By
Real Estate Broker/Owner with DMK Real Estate Ct RE Broker 0789963
http://actvra.in/4m7S

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.

Posted by

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 

 

 

 

 

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Topic:
Lending / Financial
Location:
Connecticut Fairfield County Stamford
Groups:
Realtors®
Connecticut Professionals
Property Management Professionals
Westchester County
Investment Property (USA)
Tags:
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pay rent online service
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Rainer
48,655
Angela Griffith
Downing Frye Realty, Inc. - Bonita Springs, FL

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

Aug 11, 2014 09:27 PM #1
Rainmaker
749,742
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

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

Aug 11, 2014 10:01 PM #2
Rainmaker
149,497
Karen Mathers - REALTOR YOUR
Keller Williams Vero Beach - Vero Beach, FL
When it Matters, Choose Mathers! 772-532-3221

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?

Aug 12, 2014 01:39 AM #3
Rainer
286,182
Jerry Wilson
Paramount Residential Mortgage Group - Corona, CA
California Loan Officer

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.

Aug 12, 2014 01:17 PM #4
Rainer
210,064
Jason Potrzeba
Acadia Advisory Group - East Providence, RI
Private Money & Commercial Mortgage Broker - MA/RI

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.

Aug 23, 2014 09:32 PM #5
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Rainmaker
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David Popoff

Realtor®,SRS, Green ~ Fairfield County, Ct
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