Did you know that payment history accounts for 35% of your credit score? While all three major credit bureaus use payments made toward credit cards, personal loans, and similar accounts to determine your payment history, you can also request that they add your rental payment history to your credit report too.
Have you ever wondered what your rental history report looks like? If you're like most people, you probably haven't given it much thought. But, if you're thinking about reporting your rent payments to credit bureaus to boost your score, you’ll need to know what’s on your rental history report.
In this quick guide, we'll explain how to check your rental history report and what information is included. Read on to learn more!
What Is a Rental History Report?
Ever been turned down for a rental because of your rental history? Chances are, the landlord checked out your rental history report. But what is a rental history report, exactly? It's a document that contains: information on your rental past, including rental evictions or late payments.
A rental history report is different from a credit report, although in some cases your rental history will be included in your credit report.
Landlords often use both rental history reports and credit reports as factors in deciding whether or not to rent to you. In some cases, you may even be able to dispute incorrect information on your rental history report. This is why it's important to check yours and make sure all the information is correct — it could mean the difference between getting your dream rental and being turned down.
How to Check Your Rental History
It's a good idea to stay on top of your rental history as it can affect your chances of securing a new place to live. So, how do you check your rental history?
First, you can request a copy of your credit report from the major credit bureaus: Equifax, Experian, and TransUnion. Every 12 months, you’re entitled to one free credit report from each of the three major credit reporting bureaus.
This may include information on past rental payments. In most cases, you would know if your rent was being reported to a credit bureau, though, as a landlord needs consent to report rent to credit bureaus (unless they’re reporting unpaid debts or consistently missed payments).
You can also contact any previous landlords and ask for a written reference or review of your performance as a tenant. In addition, some agencies provide rental histories for a fee.
If you’ve been denied an apartment lease then the Fair Credit Reporting Agency Act rental history agreement states that you’re legally able to obtain a copy of all consumer reports to see exactly why you were denied.
FAQ: What credit bureau do apartments use? They don’t work with one specific credit bureau. Rent reporting agencies report to two or three credit bureaus (most report to TransUnion and Equifax at the very least). Apartment managers or landlords will report to whichever bureaus the rent reporting service chooses to report to.
Does Your Rental History Affect Your Credit Score?
Does rental history show up on your credit report? It does if you request to have it show up! If you’ve consistently made on-time payments, requesting that a rental reporting company report those payments to the major credit bureaus can not only show up on your credit report but also boost your credit score.
While it may not have as much weight as paying your credit card debt on time, some landlords do report positive rental activity to the credit bureaus. That means that consistently paying your rent on time can build up your credit score.
Note that if you ask your landlord to do it, they won’t likely report past rent payments to a credit bureau. It’s a good idea to include past rent payments, which is why it makes sense to sign up for a rent reporting service yourself.
FAQ: Which credit bureau shows rental history? All three major credit bureaus will include rent payments in your credit report if it’s reported to them.
How to Get Your Rental History Show Up on Your Credit Reports
Many landlords and property management companies choose not to report past rental payments to the credit bureaus. This means that you’ll need to be proactive in getting your rental history added to your credit reports.
First, check with your landlord or property management company to see if they do rent reporting. If not, there are services like Rental Kharma and RentTrack that allow tenants to add their rental payment history to their credit reports for a small fee.
*Cheese’s rent reporting service is going live in December 2022! We’ll offer simple, straightforward rent reporting services that can help increase your score between 35 to 50 points (depending on certain factors) in as quickly as 15 days! We also charge a low monthly fee and report rental history as far as two years back.
Whichever route you choose, taking action and ensuring that your rental history is included in your credit reports can have a significant positive impact on your overall credit score instantly.
Report Your Rental History With Cheese
By reporting your rent payments to credit bureaus, you can improve your credit score in a short period. Cheese has made this process simple and easy for you. All you need to do is sign up for our rent reporting service and we will take care of the rest!
We will report your rent payments to all three credit bureaus monthly so that you can start seeing an improvement in your credit score in a short period of time. We’ll also report your up to two years of rental history to the credit bureaus.
Stay tuned! We’ll introduce you to Cheese Rent Reporting very soon!
