Building tenants credit?? Best program to use??

[Matthew Hollister]

Hello I'm an agent/landlord/property manager and I want to start building my tenants credit. Right now they can through buildium and a credit card with a 3% charge. I am wondering is there any other service that reports to all 3 and if there is any other way to report they paid if they don't use a credit card. Thanks Again!

[Colleen F.]

@Matthew Hollister  haven't used it and don't know the cost but these are only if you have certain FannieMae loans and personally  I think it is not great because they have an opt out option. Imagine if you could opt out of late cc payment reports?    Help renters build credit | Fannie Mae Multifamily

[Alison Brenner]

Experian Boost? I use Buildium as well. My tenants love that feature. I've heard Experian Boost offers something similar.

[Spencer Abeyta]

There is a service called BoomPay we have looked into using. They report to all 3 credit bureaus in exchange for a small fee per month. They only report on time rental payments but if someone looked at their credit you could tell there was a late payment because that month wasn't reported. It would be up to you if you wanted to eat this cost or pass it onto the tenants (it depends on local legislation of course). They say it does increase tenant credit scores.