How to Include Rental History on Credit Report
Your rental history is an important aspect of your payment history and it’s important to ensure your rental history is included in your credit report.
So lets start by talking about where thing currently stand with your rental history and your credit report. Today, less than 1% of the nation’s renters are currently in a position where their rental history is on their credit report.
That means the vast majority of the nation’s renters are in a position where they are not getting credit for rent and that stinks!
The problem is that there has traditionally not been a single way for a renter to self report his or her rental history to the credit bureaus. Rent is typically the largest monthly expenditure for a renter and there really needed to be a way for renters to get the credit they deserved for paying rent on time.
We at Rental Kharma thought it was time for rental history to be on credit reports so we built the first system that enables renters to self report rent payments and build their credit history.
Our system enables renters to self report up to two years of past rent payment history all at once! We think this is a great way for renters to quickly, and affordably include their rental history on credit reports and seeÂ significantÂ improvement to their credit score.
Here’s how it works
The first step in the process is our incredibly easy and quick registration process. All that you need to complete the registration is the basic details of your current rental property. It should take you only a few minutes and leave youÂ decidedlyÂ stress free. Remember, you only need your current rental details for this step.
Once you have finished registering your rental account there’s only one more thing you have to do, verify your payment record.
We’ve made this step really easy by providing rental release forms that you simply fill out and take (or mail) to the bank that handles your rent payments. Your bank will verify that the payments did take place and then send the form stamped and sealed to our processing center.
Want to take full advantage of our system and report two past years of rent payments?
No problem all you have to do is complete multiple release forms so your bank can validate your rental payment history for the past 2 years.
Couldn’t be simpler. And that is how you put rental history on credit report.