RentBureau's New Rent Payment Tracking System May Help/Hurt Tenants

A new program offered by RentBureau, a specialized credit reporting agency in the multifamily rental industry (and recently acquired by Experian, one of the big three credit reporting agencies), allows participating property management companies to report renters' positive and negative rent payment information to the agency. RentBureau touts this program as a boon to renters, since on-time payments may help boost credit scores. Of course, tenants' delinquencies and late payments will be reported as well, which could have a negative effect on tenants' credit histories, and make it harder for tenants to get a new lease somewhere else. Some advocates worry that this "real-time" access to payment histories will mean that tenants will have to think twice before exercising their right to withhold rent to remedy habitability problems or pay for necessary repairs.

To learn more about this new program and its possible ramifications, check out Nolos article Rent Payment History on Your Credit Report? What Tenants Need to Know.