How to make sure on-time rent payments are recorded for tenants?

4 Replies

I'm in a neighborhood where some folks don't have the greatest credit. I just recently heard that some spots where you rent, it doesn't count on your credit report. I would like to make sure that when my tenants rent from me, that on-time (and late!) payments show up so they can someday move up to nicer areas. It looks like there are some programs that request a lot of money to do this, and some are "free". Any recommendations of places I can report to so I can be sure that good tenants can improve their credit?

Edit: We use TenantCloud for rent payments if that matters

Cozy.co is what I use. Free, and can build tenants credit up too

Is there anything I can report to without collecting money from sites other than TenantCloud?

I'm told cozy won't report late paymets. Only on time.

I use cozy to schedule my payments (free).  In addition to that I do monthly ledgers that list the running log of payments received to date.  Ledger shows rent due date, as well as when previous rents were received, thereby keeping a record of all rent receipt dates.  Reason for monthly ledgers too?  I tend to provide copies of utility bills for shared utility bils.  Cozy does not allow you to upload bills, at least not when I last checked thus the seemingly double effort here. Use of cozy though allows me to stop rent collections without issue should an eviction start.

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