We report your tenants’ rent payments to the credit bureaus, so paying rent on time counts and paying late has a cost. We pull the data from your management software. You don’t have to send us anything.
No change to how your tenants pay. For landlords, property managers, and management companies.
Illustrative example. Your summary lists every tenant reported each month.
Rent reporting sends your tenants’ rent payments to the credit bureaus. Late payments are reported for every tenant at the properties you enroll, and tenants who pay on time have the option to sign up for positive reporting.
Each reported tenant gets a rental tradeline on their credit report, just like a car loan or a credit card. Renters build credit with a bill they already pay, without taking on new debt.
of renters say they would be more likely to pay on time if rent were reported to the credit bureaus.
NMHCof renters would choose an apartment with rent reporting over an identical one without it.
TransUnionof renters may see their credit score go up in the first month of reporting.
TransUnionSources: TransUnion renter research on rental payment reporting; National Multifamily Housing Council (NMHC), Nov. 2022. Results vary by tenant.
All your other tenants get the option to sign up for positive reporting of their on-time payments, so your good payers build credit too.
Five steps. Your only job is the first one.
Complete our client form and reporting agreement, and give us access to your management software.
This is your partWe give you the notice to send residents before reporting begins.
Each month we pull the rent information straight from your management software.
We check the data, build the bureau file in Metro 2 format, and submit it.
A report by property showing which tenants were reported.
New to rent reporting? Read our guide for landlords.
No. Tenants keep paying you the same way. We pull the rent information from your management software each month.
Late payments are reported for tenants at the properties you enroll. Tenants who pay on time can sign up for positive reporting.
Once rent is 30 days or more past due, following the credit industry’s Metro 2 standard.
Yes. Tenants get a written notice before reporting begins. We give you the notice and tell you when it needs to go out. Tenants can read what it means for them.
We handle it. We review the account with you and answer the dispute within the deadline the law requires, correcting it if needed.
The account is updated in the next monthly file, so the tenant’s report shows the current status.
Usually within about 30 days of the first month we report.
Contact us for pricing. We’ll put together a quote based on your properties.
Tenant data is stored securely and only the people who need it can see it. We use it only for reporting.
We can collect that balance too. Octopus is a full-service collection agency for rental debt, including Section 8 and HUD balances. See rental recovery.
Accurate data, proper notice, and a fair dispute process.
Accurate reporting, updated when accounts are paid or disputed.
The credit industry’s format for reporting account data.
Written notice before reporting begins, following state rules.
Access limited to the people doing the work, and used only for reporting.
Tell us about your properties. We’ll set up access, send you the tenant notice, and get your first month ready.
We usually reply within one business day.
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