Do you know how to go about reporting tenants’ payment histories to the four credit bureaus? As a property manager, adding this knowledge to your arsenal helps you educate past-due customers as to the long-term effects of their payment behaviors. It also helps you prepare new tenants with the consequences […]
Part One: Reporting Tenants to the Credit Bureaus
September 17, 2018 By Leave a Comment
An unfortunate reality of property management is the inevitability of dealing with slow-pay and no-pay tenants. Even though a tenant may pass your initial creditworthiness processes at application time, it’s impossible to predict if circumstances or intentions will change and the tenant will become a problem payor. When that happens, […]
Reporting Evictions: Are There Long-Term Effects?
August 31, 2018 By Leave a Comment
Have you ever considered reporting evictions to the four major credit bureaus? It’s not as difficult as you think, especially with the help of a credit reporting service. But first, it’s important to understand the credit-related effects of reporting evictions. One of the questions consumers are most curious about is […]
Can Property Managers Report Rental Payments to Credit Bureaus?
May 14, 2018 By Leave a Comment
Most landlords aren’t able to report rental payments bad tenants directly to the four major credit reporting agencies. The bureaus require a merchant account to report a tenant’s late payment activity. Many landlords don’t create enough monthly transactions to qualify for this particular support. Options to report rental payments So […]
How to Report Rent Payments to Credit Bureaus
May 9, 2018 By Leave a Comment
Having a great credit rating is the key to opening several important doors in your life: it will help qualify you for car loans, mortgages, credit cards, and more. A sound, positive credit track record can also allow you to procure bigger loans at better rates. One fairly new way […]