Reporting Rental History

[RitaB]

I was wondering if anyone has experience with or known someone who has used a service that reports on time home rental payments to credit agencies. It sounds good in theory, I was just wondering if it would actually increase the individual's credit score or not.

 

[RitaB]

bump

just one bump. I'm surprised no one has heard of this.

 

[Mike Boyd]

I was wondering if anyone has experience with or known someone who has used a service that reports on time home rental payments to credit agencies. It sounds good in theory, I was just wondering if it would actually increase the individual's credit score or not.

Nope. However, if you include the rental on your loan app. most credit agencies will will check that reference. If you have been LATE, it will be reported. If you are always on time, that also will be reported in most cases. The absence of late notices serves as affirmation of payments made on time.

 

[RitaB]

Thanks

Very interesting, thanks for the info Mike. So someone who provides this service for a fee-is it redundant?

I actually rent and I don't think my landlord reports one way or another.....he's a private individual not a corp.

Someone I know is doing rental reporting services as a business and I was trying to find out if it's legitimate.