Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
Hello All!
I wanted to get your thoughts on the new legislation that passed. Basically if you own more than 15 units you have to provide the option for the tenant to report positive rent payments. It doesn't mean you have to pay for it, just provide the option.
What have you all been seeing? Are you excited for tenants (it could be a way to hold them accountable)? If you saw consistent rent payments on their credit report would that change how you vet prospective tenants?
We offer tenants for a small charge the ability to have all of their rent payments reported. We don't just do positive. Knowing that their credit can take a hit if they are late is a little extra incentive to make sure they get that payment in on time. So it helps them and it helps us and helps the owner. Win, win, win is always the goal.