How to report rental payments to credit agency

5 Replies

Hi.  I'm about to buy my first rental home and it's already tenanted.  I'm going to self-manage the property. 

How can I ensure that my tenant gets the "credit" for his on-time rental payments from the credit agencies?  I read something on experian that said they collect data from property management or rent collection companies, but what can I do as an individual landlord?

Thanks.

@Aaron Fowles

I don't believe that individuals can report directly to the credit bureaus, however, several payment services like eRentPayment.com are partnered with the credit bureaus and do offer an option to report for you, if you are utilizing their services. I also heard that rentreporters.com allows you to report payments even without using the electronic service, however, I have never tried it. 

-Christopher

Originally posted by @Christopher Brainard :

@Aaron Fowles

I don't believe that individuals can report directly to the credit bureaus, however, several payment services like eRentPayment.com are partnered with the credit bureaus and do offer an option to report for you, if you are utilizing their services. I also heard that rentreporters.com allows you to report payments even without using the electronic service, however, I have never tried it. 

-Christopher

Cool. Thanks.

I have wanted to do this also but self manage everything (payments) which makes this more difficult.  I know Experian has the option with "Experian Rent Bureau" that uses rent payment services who report to Experian to build the credit history.

It seems like a viable business opportunity for the credit reporting agencies as long as the info is coming from legitimate verifiable sources.

This is something I want to try, but I may be stifled at first.  The house I just bought, my first rental property, is tenanted and the tenant has been paying with money order.  I'm going to look into if I can report manually (thought I highly doubt it's possible).