Reporting evictions, skips, and judgments to the four credit bureaus can help property managers in several ways. When you report your tenants’ payments, the credit bureaus add these records to their credit reports. Also, sometimes just letting your tenants know that you report to the bureaus encourages them to pay on time.
Using a credit reporting service company like Datalinx simplifies the credit reporting process. In fact, we’ll make sure your tenants’ data is reported accurately and on time to each of the major credit bureaus.
Reporting tenant payment and eviction data is easier than you think, especially when you partner with Datalinx. We simplifly the process of getting approved by the bureaus, and help you get started quickly. And rest assured, our experienced team will work closely with you through each of the following steps.
Step One: Data Furnisher Setup
Your first step is submitting an application to the credit bureau to become a data furnisher. We will help you complete the following requirements to verify your company’s:
- Identity: one copy of a valid form of ID for property owner or manager
- Ownership: one copy of an acceptable form of proof of ownership for each property to be rented
- Contract: one copy of standard rental contract used by property owner and/or manager
- Authorization To Report: signed Service and Support Agreement with Datalinx
If you have questions about any of these requirements for setting up your company as a data furnisher, don’t worry. Your Datalinx rep will be on hand to help.
Step Two: Property Management Reporting Package
Next, you’ll review the reporting requirements included in your Property Management Reporting Package. This way, you’ll be sure you can provide the data necessary to report evictions.
Step Three: Testing and Final Approval to Report Evictions
Lastly, we’ll help you assemble your input file using the File Layout Template tab in your Property Management Reporting package. Please populate all necessary fields within your simple reporting template. You’ll send your data in this format in all future transmissions.
You will submit your initial test file using the connectivity path established by your Datalinx representative. This will ensure that the Datalinx servers receive your data securely.
Once received, Datalinx will perform a series of tests to make sure your data is valid. We’ll also make sure your data adheres to all defined rental data requirements. We perform these tests to be absolutely sure your data will always arrive on time and accurately. When we approve your transmission, you can begin reporting your tenants’ data in our production environment. If concerns or issues are present your Datalinx team member will work with you to resolve them.
Please contact your Datalinx rep or the support team (support@datalinxllc.com) with any questions or concerns.