Rent collection app that builds tenants' credit?

General Landlording & Rental Properties
2moFollow

Rent collection app that builds tenants' credit?

Jim StanleyPro Member
Denver, CO · Member since 2017 · 58 posts · 27 votes

A few years ago, I heard an ad on the BP podcast for a rent collection app that reports collected rent to credit bureaus as a bill paid to build up their credit.  I did not write the app down and have forgotten it.  I'd like to do this for my tenants.

Can any one point me in the right direction?
Thanks

1Reply
113 views

5 Replies

Jump to latestLatest
  • Ryan Fox
    Investor · NV and CA · Member since 2016 · 373 posts · 227 votes
    2mo
    @jim Stanley - There are a number of apps that do this now. Zillow Rental Manager, Turbotenant, Avail, and PayRent. I don’t use any of them.
    0Reply
  • Ed BaronePro Member
    Saratoga Springs, NY · Member since 2018 · 109 posts · 56 votes
    2mo

    Jim,

    There are a number of rent collection platforms that offer rent reporting to help tenants build credit by reporting on-time rent payments to the major credit bureaus.

    I’m one of the co-founders of RentRedi, so full disclosure, I’m a bit biased. 😊 RentRedi offers Credit Boost, which reports on-time rent payments to all three major credit bureaus. Either the landlord or the tenant can cover the cost, and it’s very inexpensive.

    That said, there are other platforms that offer similar features as well, so you have a few good options depending on what you’re looking for.

    One other thing to mention: if you’re a BiggerPockets Pro member, RentRedi is included with your membership, so there’s no additional cost to use the platform.

    Hope that helps, and hope to see you at BPCON in Orlando!

    Ed

    0Reply
  • Jim StanleyPro Member
    OP
    Denver, CO · Member since 2017 · 58 posts · 27 votes
    2mo
    Thanks for the reply.
    I am a pro member- how do I access the included rentredi?
    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2mo
    Quote from @Jim Stanley:

    A few years ago, I heard an ad on the BP podcast for a rent collection app that reports collected rent to credit bureaus as a bill paid to build up their credit.  I did not write the app down and have forgotten it.  I'd like to do this for my tenants.

    Can any one point me in the right direction?
    Thanks

    There are a few options that do this now. Esusu, Piñata, and RentRedi (through certain integrations) all offer rent reporting to the major credit bureaus, and there are also services like Boom that focus specifically on reporting rent payments. I'd just compare pricing, which bureaus they report to, and whether your tenants have to enroll themselves or if you can handle it on the landlord side. It's a nice perk that can help tenants build credit while also encouraging on-time payments. Happy to connect and answer any questions you have!
    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free