General Landlording & Rental Properties

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Andy Bauman
  • Phoenix, AZ
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Could this help you increase your on-time rent payments?

Andy Bauman
  • Phoenix, AZ
Posted Jul 25 2019, 09:50

I was reviewing a document online here and it talks about how the newest version of the FICO score factors in rent payments into a person's credit history.  From what I can see this new version of the FICO score was released in April 2019, found here.

From the document:

"
Rental history, when it’s reported, factors into FICO® Score 9. By
taking a more comprehensive view of your credit history, FICO®
Score 9 evaluates your creditworthiness even more fairly
"

So those of you collecting rent payment may want to share this booklet with your new tenants and stress upon them that you will be reporting their payment history to FICO and it can either be a good thing for them or a bad thing for them.

In case you are curious, here is an article on how to report rent to FICO.

Hope it helps someone!

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