Rent Reporting Resources
Flyers you can use to help raise awareness of Rent Reporting among your staff and residents.
RealPage Rent Reporting
Your Residents Have an Easy, Affordable Way to Build Their Credit Profiles
Good Credit is Good For Your Community
Consumers recognize that good credit scores impact them on many levels — from their ability to rent without a co-signer to securing good interest rates on car loans and other revolving credit. That’s why more than 60% of renters will choose an apartment that offers rent reporting over one that does not3, and those same renters are more likely to make on-time rent payments.
RealPage® Rent Reporting is an optional $4.99/month subscription that helps build residents’ credit profiles1 by automatically reporting monthly rent payment activity to Equifax®, Experian®, and TransUnion®.2
Frequently Asked Questions
Why would residents want RealPage Rent Reporting?
Consumers recognize that good credit scores impact their ability to rent without a co-signer, get good interest rates on car loans and other revolving credit, and qualify for a mortgage.4 A recent TransUnion study found that when rent payments were included in the credit file, consumers experienced an average increase of nearly 60 points to their credit score.1
Why should my community offer RealPage Rent Reporting?
Rent Reporting makes financial sense for both you and your residents. According to one credit bureau study, more than 60% of renters will choose an apartment that offers rent reporting over one that does not, and those same renters are more likely to make on-time rent payments.2 Also, RealPage Rent Reporting requires no administration or change to your existing processes.
To which credit bureaus do you report rent payment history?
RealPage currently reports rent payment history to all three major credit bureaus: Equifax®, Experian®, and TransUnion®. The specific bureaus to which we report are subject to change without prior notice, but a resident’s monthly rent payments will be reported to at least one of the three major bureaus during their subscription to RealPage Rent Reporting. Please note, RealPage is not a credit bureau and does not have direct influence over any aspect of credit bureau consumer profiles or credit scores calculated by the bureaus. Each bureau will determine, in its sole discretion, whether and how to use reported rent payment information.
How is Rent Reporting billed to residents?
Rent Reporting is billed each month in advance to report the following month’s rent payment to the credit bureau(s). Rent reporting services for new residents will begin the later of the calendar month following (i) the lease start date communicated to us by the resident upon enrollment; or (ii) the actual lease start date. Services for existing residents will begin the calendar month following the date of enrollment. In either case (for new or existing residents), the subscription and billing will continue until the service is cancelled or terminated or the resident moves out.
Can more than one resident per unit report their rent payments?
Yes. Each individual on the lease can choose to have their rent payments reported. A RealPage Rent Reporting subscription per lease-holding resident is required.
Can you report rent payment history for previous leases?
Not at this time. The reporting of rent payments will initially be available on current active and future leases.
Will a subscription end automatically if the resident does not renew their lease?
Yes, we will cancel the subscription automatically if the lease is not renewed.
Does the subscription continue if the lease is renewed?
Yes. If it is a renewal on a current lease, the monthly subscription will continue. A new lease will require a new sign-up for RealPage Rent Reporting.
What happens if any of our properties stops using OneSite Leasing & Rents?
Properties converting from OneSite Leasing & Rents to another property management system will no longer provide us with access to rent payment data, so those subscriptions will be automatically cancelled.
How does a resident cancel a subscription?
Residents can cancel their subscriptions by visiting realpage.com/rent-reporting and clicking on the “Manage Subscription” button. The cancellation will take effect at the end of the requested cancellation month.
Can a resident get a refund for Rent Reporting if they cancel?
Refunds are not available for previously reported rent payment history records.
How long does it take for the credit bureaus to report payment history?
Depending on the credit bureau, the response time might vary. However, once submitted, if the credit bureau opts to incorporate the data, rent payment history is typically reflected on a credit report within 30 days.
How do residents dispute a rental payment inaccuracy shown on their credit reports?
Residents should contact the credit bureau that reported the inaccuracy, and the bureau will assist.
Is there any guarantee that a resident’s credit history or score will improve as a result of RealPage Rent Reporting?
No. RealPage is not a credit bureau and does not have direct influence over any aspect of credit bureau consumer profiles or credit scores calculated by the bureaus. Each bureau to which we report your resident’s rental payment information will determine, in its sole discretion, whether and how to use that information.
Will rental assistance or subsidies paid by third parties on the resident’s behalf be considered reportable?
No. The bureaus will not accept payments that are not made by the renter. If a renter has an obligated amount that they must pay towards rent each month, any payment towards the obligated amount made by the renter is reportable and will be used.
1
Alternative Data Such as Rent Payment Reporting Bridges the Gap for Unscorable Consumers and Increases Financial Inclusion Opportunities. TransUnion (2021). See also https://www.usatoday.com/story/money/2019/06/26/credit-score-your-rent-can-boost-your-fico-score-instantly/1556743001/
2 This is subject to change without prior notice, but your residents’ monthly rental payments will be reported to at least one of the three major bureaus during their subscription to RealPage Rent Reporting.
3
Rent Reporting Will Motivate Seven in 10 Renters to Make More On-time Payments (globenewswire.com) (TransUnion (2019).
4 Please note, RealPage is not a credit bureau and does not have direct influence over any aspect of credit bureau consumer profiles or credit scores calculated by the bureaus. Each bureau to which we report your residents’ rental payment information will determine, in its sole discretion, whether and how to use that information.