Credit Reporting for Rent Payments

For properties that work with PayLease online payments, residents may choose to have rent-related payments applied to their credit history, empowering them to improve their credit and enabling property managers to differentiate their property. PayLease Credit Reporting shares a resident’s rent-related payments with Experian RentBureau® and TransUnion®, which are used by various types of credit-granting institutions such as banks, auto finance companies and telecommunications providers. Only positive, on-time rental payment data is submitted. This is an important distinction, as it’s a powerful incentive and draw for responsible, reliable tenants. Credit Reporting with PayLease is a win-win for residents and property managers.

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Why Residents Love It

Residents can build their credit history and potentially improve their credit score without taking on additional debt

Having a positive credit history and a high credit score has many benefits including the opportunity to get loans with lower interest rates, higher chances of getting approved for a car or home loan, and an easier time in getting rental housing

Why Property Managers Love It

Credit Reporting is a differentiating feature for a property and attracts responsible residents

Cash flow is improved thanks to the on-time payment incentive for residents

Staff saves time when more residents pay online to take advantage of credit reporting

Contact us to learn more about taking advantage of PayLease credit reporting for you and your residents.

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