Reporting rent payment to credit bureaus

7 Replies

Hello,

I've had tenants on fixed term leases who wanted to break their lease and move out early. According to CA law they remain responsible for rent until I find a new tenant. Every time I've had a situation like this, tenants cannot swallow it and try all kinds of maneuvering to get out of paying their rent until a new tenant is found. I wanted to explore the possibility of reporting rent payments/ non-payments to the bureaus so that they have an incentive to pay and not negatively affect their credit score. I am a small LL and the fees seem very high from cos that appear when I do a Google search for such rent reporting services. Do any of you know of/ use reasonably priced rent reporting services? Many thanks

Thank you Rick. I am not looking for collection agencies. I just want to report rent payment regularly, both when the tenants pay (which would help their credit history) and when they don't (therefore an incentive to pay rent and not damage their credit score.

Yes, regular reporting of rent. It can be done; several services available but the ones I find through Google search are expensive. I am looking for more cost-effective alternatives for small investors/ LLs