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Updated almost 3 years ago,

User Stats

158
Posts
45
Votes
Jonn Vidal
  • Bel Air, CA
45
Votes |
158
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?

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