What is Credit Reporting?
It’s a feature that allows tenants to submit their information around their lease to a credit bureau to improve their credit score. As a Property Manager, reporting rent payments to the credit bureau, reduces the likelihood of tenants being late with payments. If you want to offer Credit Reporting to your tenants through LetUs, please contact your LetUs account manager. At the moment, this feature is only available for Property Managers and tenants located in the US.
To be able to set up credit reporting, tenants need to have recurring charges on their account. This is not the same as having AutoPay enabled. To learn how to set up recurring charges for your tenants, read this article here.
Credit reporting is available for a fee for tenants, but as a Property Manager you can choose to cover that fee for them. Purchasing credit reporting gives the tenant 1 year subscription. The subscription will be automatically renewed each year unless the tenant contacts us to end the subscription.
- If the Tenants pays for it: the fee will be charged annually and they payment must be made with a credit card.
- If the Property Manager pays for it: the fee will be charged annually. Please reach out to your LetUs account manager for more information about pricing