Credit reporting for tenants?! Yep, you heard that right! Every time a tenant pays their rent on time, their credit score is impacted. How does this work with Real Property Management? Let’s talk about it…
Online Rent Payments for Tenants
At Real Property Management, we offer online rent payments that are available on both desktop and mobile for all tenants! Whether you’re relaxing on a beach across the world or hanging out at home, tenants can pay rent from anywhere! No more rearranging your life to accommodate a landlord or Property Manager’s schedule. Tenants have more options to pay rent, such as:
- Bank Account (Chequing Account)
- Visa Debit
- MasterCard Debit and Credit
- Visa Credit Card
- American Express Credit Card
Not to mention, rent is automatically collected on the first of the month. There is no need to set a reminder in your phone to pay rent, we’ve already got you covered!
Tenants Receive Credit Reporting for On-Time Rent Payments
As a tenant with Real Property Management, your monthly rental payments are reported to a credit bureau. This means that each time you make a rental payment on-time, your credit score is positively affected. Considering rent is automatically pulled on the first of the month, your credit score should be positively affected each month. In fact, some of our tenants saw their credit scores increase by 60 points in one year!
How does Credit Reporting Benefit Tenants?
Lenders and creditors examine an individual’s credit score to help determine the riskiness of lending to you. Sequentially, this determines the interest rate you will be charged. Individuals with a lower credit score may find it difficult to obtain financing.
At Real Property Management, we understand that homeownership may be a tenant’s long-term goal and renting is just short-term. Regardless, we value our tenants and want to set them up for success in their future endeavors.
Conclusion
Partnering with Real Property Management benefits not only investors, but tenants too! We make the rental search easy and provide additional benefits throughout the lease too.