Reporting Rent Payment to Credit Bureau

[David M.]

Hello,

I have a young couple renting from me who is interested in possibly buying the home at the end of our lease next fall. However, they have little credit. I've considered setting up a system to report late payments/on-time payments in the past as an added incentive to be timely with rent payments, but I never got around to it. This seems like a good time to investigate the process, however.

Does anyone report rent payments to the credit bureaus? If so, what's the process like, and what are the pitfalls that I'm not anticipating?

Thanks in advance.