Renters Can Develop GOOD CREDIT By Paying Their Rent On Time

We don't contact the credit agencies for our renters, but we take copies of each check and the date we got them.  Renters can have a copy anytime they ask for one.

Debbie, this is great for tenants as this is usually their largest monthly payment. It's great that its so easy that the software does it all for you.

Debbie- Thanks for posting this.. building or rebuildingcreditvery important.

Paying rent on time is a great way to establish credit. 

Debbie, Great point and as a landlord I want everyone of them to have good credit to buy a house so I can sell them the homes.

Debbie, I was not aware of this software.  My office has a property management division, and I am going to check that out tomorrow.  What a great tool to help those tenants when they decide to purchase.

Debbie,

Congrats on the well deserved feature.  I didn't know that kind of software was available either.  One more reason for tenants to choose a rental that is managed by Cedaredge Land Company. 

I hope you have a great week. 

We used to get loans based on Rent, Power Bill and Car Payments now those days are gone

GOOD MORNING DEBBIE!  Which software does your company use?  Many lenders also have a rent form that they use - but automatic credit reporting is good!

VERY GOOD ADVICE!! Thanks for sharing ...

I like William #7 contribution to this worthy post...proof of payment on time is a great gift to give to someone who needs it

That's great advice. Yes, rent can be used as a credit supplement. Thanks for the tip and post!

Congratulations on your feature. That is great news for tenants and for property managers which not too long ago was too hard or costly to make these reports to Experian. Have a great Monday

A lot of people, especially renters, have no idea this exists.  I'm glad you are pointing this out because it can help those looking to buy eventually.

Debbie:  Thank you so much for this info ... and the instructions to make sure that the landlord is maintaining verifiable, trackable records for credit.  At minimum, receipts (cancelled checks) showing consistent, timely payments are necessary when applying for loan.  Your method is best, if possible ...

Gene

Good job on the feature.  And, thanks for that sign....that will be very helpful, too.  You are the busiest person I know!

Hi Debbie -- excellent advice for renters who want to become homeowners!  Well-presented and definitely gold star worthy.   

Hi, Debbie! Debbie Reynolds reblogged this post and sent me over. I did not know that renters could build credit this way. We do not really have a rental market in my town so I don't have much experience with this. It's good to know, though, as people are always asking me real estate questions. Btw, I love the bright yellow sunflowers on your blog border! Just what I need to see at this time of year with all the snow around. :)