Limited credit history creates a lot of headaches. For example, it can feel impossible to find an apartment or rental home without a credit report. Many landlords and property managers require a credit check when you apply to lease a property. That means that without credit history you may not qualify.
Building credit history can be a challenge. Lenders may not want to give you credit without an established credit score. Without credit that helps you build credit history, credit bureaus may not be able to determine your credit score. So, how do you build credit history and get a credit score if you cannot get any credit in the first place? The whole system can feel circular.
Homeowners benefit from a consistent stream of large monthly payments reported by mortgage lenders. What about renters?
We’re proud to announce that Safely Finance now offers rent reporting to help tenants build positive credit history. Our technology makes it easy for property managers to offer rent reporting as a financial amenity and community benefit. Properties can help tenants boost credit scores without any additional debt by simply reporting the rent payments that tenants already make.
Safely Finance offers two solutions for rent reporting. We offer communities the technology to easily report rent on behalf of tenants. We also offer renters the option to sign up online to start reporting directly with Safely Finance.
Working together, Safely Finance and property managers can easily report rent payments to credit bureaus. Safely Finance’s technology handles bureau-compliant reporting. Our technology is fully customizable for the partnership options that best suit your community goals. Our team helps you track score improvements, user acquisition, and retention. Rent reporting also introduces a new way to monetize or subsidize, and Safely Finance provides you with the turnkey marketing assets you need to deliver compliant, conversion-optimized content.
Working directly with renters, Safely Finance offers an effortless way to build credit history without taking on new debt. Renters can build or rebuild credit using their existing rent payments. Safely Finance will report payments to major credit bureaus and gives tenants a modern, simple interface for viewing and tracking credit score changes over time.
If you are a property manager or owner, email sales@safelyfinance.co.
If you are a renter, simply visit https://www.safelyfinance.co/rent-reporting.
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