Reporting late rent to Credit Bureaus
I have a couple of past due tenants (include 2 who have moved out). I want to report to the Credit Bureaus -- has anyone used Rent Recovery Service or any of the other services?
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It might but I think you've done your due diligence in having it in the lease and having their SSN, you can try to proceed with it. However, you should start including a dedicated 'Disclosure Notice: Credit Reporting and Tenant Performance', notice, which you would include when they first sign the lease. Landlords don't have very much success with debt collections for rent, so any little advantage you can gain to make it easier on your part and convey to the Tenant what the consequences are should be taken. With that said your lease might do since it does have that clause in there, but you again you should not only include a clause but a dedicated notice as well. As far as actually reporting it you can pay a third part to report it to the main 3 for you... I'm not quite sure you can report it directly to them yourself but you can definitely call them and find out. I personally use the LPA for that.