How can landlord report payment history to 3 Major Credit agencies?

Question

Hi there - I have rented the same home now for over two years with a perfect payment history. However, our landlord is just an individual that moved out of her place and rented it to us. She is not a business, etc. so she does not report this to anyone.

My wife and I are in the process of rebuilding our credit and got to thinking if there is a way that we could have her report our payment history to the three major bureaus? Is there an account that you can set up with someone that does this, etc.? We would be willing to pay for any fees that she would incur, as it would be worth it in the long run, but after looking at each of the three agency website, I am getting nowhere.

Any help would greatly be appreciated!

Thanks,
Shaun

Shaun Minton · Answer

LOL, I understand all of the above.  I am not saying that my landlord is "obligated" to do this for me!  We are excellent renters, have a great relationship with her, and SHE HAS AGREED to do it for us if we could find a way to go about getting it arranged.  What is wrong with that????

Again, your missing the whole intent of this post.  I am not sure what your intent is for even posting?  I asked a simple question, you either know if it is possible, or whether it is not possible.....if so, we are looking for how to go about doing it.  I am not here to debate whether our landlord should be any different the reporting policies of utility companies, etc.

Armando C. · Answer

For credit building tips check out myfico.com/forums or look at creditboards.com/forums. There are tons of articles and posts that might help you rebuild your credit.

George P. · Answer

Non-payment or delinquency or judgement are more likely to be reported. Pay your rent on time and avoid these.

Andy D. · Answer

Since rent payments are not technically "credit" payments, I don't think it can be reported to the major credit bureaus.  Credit reports only reflect payment history on borrowed money, not monthly bills like rent, utilities, car insurance, etc..

But even though it doesn't report and affect your score, the payment history is very valuable.  When you apply for a mortgage loan at some point, the lender will want to see verification of rental payment history.  Other trade lines that do not show on credit, such as regular payment of utility bills, can be used as "alternate tradelines" when you're doing an FHA loan and don't have a sufficient number of open trade lines.

In my opinion, the best way to improve your credit score over time is to establish at least 4 tradelines, even if they have to be secured credit cards, and keep the balances low, below 40% of available credit, and of course make the payments on time.  It helps to have different kinds of credit, both revolving and installment, but just make sure everything is paid on time.  Your rental history will count, just not on the actual credit report.

Hope this helps.  Good luck!
Andy

Account Closed · Answer

good luck...i have a tenant i'd be willing to do this for if he paid for it....let us know if you find anything

Account Closed · Answer

i'm not positive, but i think a 3rd party may report it...you can call cashflow services or another 3rd party and at least ask.

Apryl McDowell · Answer

I know this is an old thread. But there is a way to get your rent reported to all three credit bureaus. You won't be able to it for your past payments but moving forward you can. You use the company www.WilliamPaid.com, it is a charge of $5.00 a month to report your rent paid to the credit bureaus. How it works is that you pay them your rent and then they pay your landlord every month (by either sending landlord a check with your name or by depositing money into landlord's account). Go to the website to find out more information. I use it to pay my own rent, and also I have tenant buyers in my "Subject To" rent to own homes that use it to build their credit. And it works wonderfully.

~Apryl

Rob Gillespie · Answer

Shaun,
I am giving you a link to a member here on BP. His name is Joe Lieber. He owns ReportRent.com it is tough to do! Look at his site and call him up. He is an athority on the subject, but I gotta tell ya, he is having a real tough time doin it. Last we talked, he was shutting it down. They are tough on reporting.  :mrgreen: 
(please do not remove, I am not promoting this site)

Jeff Solberg · Answer

I know this an old topic but I think its a win/win for both landlord and resident. People renting usually dont have great credit otherwise they would purchase a home. This allows them to build their credit. Landlords have a small way to hold the resident accountable. I found two websites that do this sort of thing ( I am not connected to either and if its not supposed to be posted I apologize in advance)

https://www.rentreporters.com/index.php
(not sure of the pricing with this one and it looks as though its initiated by the resident)

https://www.aoausa.com/SECURE/mrLdebtreportingservice.asp
This one is through mrlandlord.com. and is a flat fee 12.95

Seems worth it to me.

Riel Angou · Answer

I'm sure she's well aware, considering she stated that she currently has poor credit.

Your reply was in no way helpful.

How can landlord report payment history to 3 Major Credit agencies?

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