Have you tried tools that report your tenants rent to credit bureaus?

[Rene Hosman]

I've seen some options recently for credit reporting for your tenants rent payments. Is this something you've ever done as an individual landlord, or is this something more for larger multi-family properties only? 

One positive I can see is it could help some tenants boost their credit scores, while also incentivizing them a little extra to pay on time.  I'm always looking for ways to provide value to my tenants while making our rental properties stand out & this seems like an innovative (and cost effective!) amenity. 

I know that BiggerPockets partner, Baselane has rolled out this feature. It allows landlords to offer tenants a financial perk that can improve their credit health. It seems like a win-win: tenants benefit financially, and landlords strengthen tenant relationships while making their properties more appealing. 

But I also want to hear from you:
Have you offered rent reporting to your tenants before?
How has it worked out for both you and your tenants?
Did it positively impact your relationship with your tenants?
If you haven’t tried it yet, what’s holding you back?

If you’re curious about how Baselane’s rent reporting works or have any questions about getting started, drop them here. Would love to hear from anyone who has decided to use this kind of feature and what your experience was? 

[Nathan Gesner]

I've been offering it for nearly two years. It allows tenants to increase their credit scores by an average of 60 points, and I provide it free of charge.

I have over 600 adult tenants. Fewer than 20 have signed up.

You can lead a horse to water...