Experian Now Reporting Rent Payment History

Experian has become the first credit bureau to begin reporting a consumer’s rent payment history on credit reports. Doing so will help Experian identify risky potential renters, reduce bad checks, and minimize property damage. In addition, the reporting of this information will help those with limited credit but a favorable rent payment history be able to more easily qualify for a mortgage as it will add another key account on their credit bureau.

¬†Experian is having success getting the larger property management companies to report this info and we are starting to see these accounts show up on credit reports. There really isn’t a system in place at this time to enable smaller landlords to report rent information, but there is no reason that a landlord could not report directly to the credit bureau if asked. The bottom line is that Experian collecting and reporting rent history information will help more people gain the great American dream of home ownership and, hopefully, Equifax and TransUnion will soon follow suit!

September 25, 2012 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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