Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on . Most recent reply

User Stats

165
Posts
45
Votes
Jonn Vidal
  • Bel Air, CA
45
Votes |
165
Posts

Even $100 limit credit card reported monthly, but not $5,000 apt?

Jonn Vidal
  • Bel Air, CA
Posted

Whilst all credit cards and even most residential & commercial landlord companies (Blackstone, Spectrum, LeFrak, GE, ING, etc) report rent payments (or lack/lateness) each month to major credit bureaus, virtually no landlords do this in my experience, despite likewise laxing laws enforcing default; for example in NY it is now illegal to refuse to rent to an applicant just because everywhere they've ever lived, they've always ended up exiting via Eviction!


So for those who do still rent despite the phasing out of private ownership already in some states like NY, how do you encourage timeliness with recent legislature making late fees and even collections and evictions obsolete?


Do Landlord Credit Bureaus exist in US yet? If so does anyone here even report tenant payments and/or sometimes send tenants to Collections? or just rely on eventual eviction and write off the entire unpaid rent total even if its a year or 2 as now is the case with courts backed up so bad post-Covid?

Most Popular Reply

User Stats

349
Posts
418
Votes
Dave G.
  • Investor
  • Phoenix, AZ
418
Votes |
349
Posts
Dave G.
  • Investor
  • Phoenix, AZ
Replied

The judgement I file for an outstanding balance after eviction shows up on their credit report.

If a current or previous tenant is pursuing a loan for an auto or home purchase, my prop manager will provide rent payment history in support of underwriting that loan. This is common for the lender to request this, even if timely payments don't show up on a credit report.

I would never deploy investment capital in a state where "collections and evictions (are) obsolete". If that is a new law, I would get the hell out...fast.

Loading replies...