Helping tenants build credit simply by paying rent is easier than ever with the Rentec Direct and RentReporters integration. Your tenants can automatically report rent payments to all three credit bureaus and experience an increase in credit scores, helping them reach credit stability.
Rentec Direct and RentReporters
The seamless integration of Rentec Direct with RentReporters has been a game-changer for landlords, property managers, and tenants. This automated solution, available since 2022, makes it a breeze for tenants to improve their credit by paying rent on time.
Rent payments recorded in your Rentec Direct account are automatically validated and sent to RentReporters to share with the major credit bureaus. This feature reports on-time rent payments to demonstrate financial responsibility to the credit bureaus, resulting in positive credit data.
All Rentec Direct clients have access to the RentReporters features at no additional cost, empowering your tenants to enhance their credit scores and take control of their financial future while simplifying management for you.
People who do not use the RentReporters feature, need to manually report tenant rent payments. It also requires RentReporters to contact both the tenant and landlord to validate the payments.
Now, Rentec Direct automatically handles this process, significantly relieving this administrative task and giving you more time to focus on growing your business. Plus, Rentec Direct tenants have a special deal with RentReports and are not required to pay the sign-up fee—that’s a $100 savings for your renters!
Here are a few of the Key Benefits of the integration of RentReporters with Rentec Direct:
- Free for You: The integration is provided at no additional cost to Rentec Direct clients.
- No Initial Signup Fee: Thanks to our integration, your tenants will save around $100 as the initial signup fee is waived, a gesture they will surely appreciate.
- Tenant Choice: It’s up to your tenants if they want to enroll and cancel whenever they like.
- Affordable for Tenants: RentReporters has a small monthly subscription fee for tenants, making it a cost-effective way to boost their credit scores with a cost of $10.95 per month (California renters only pay $10 per month).
- Hands-Free Reporting: Rentec Direct automatically sends payment data directly to RentReporters
- Higher Credit Scores: Tenants often see their credit scores improve in as little as 10 days.
- Less Work for You: Automation means fewer manual tasks and more free time.
Getting Started with RentReporters to Report Rent Payments to Credit Bureaus
How Tenants can Enroll in RentReporters
Tenants can easily enroll with RentReporters in two quick steps:
- Log into their Tenant Portal
- Click on More Info on the Summary Page of their Tenant Portal.
Once tenants’ have signed up, Rentec Direct will automatically share up to two years of past rent payment history and keep reporting future payments for RentReporters to share with all three credit reporting bureaus: Equifax, Experian, and TransUnion.
Note: In order to waive the $100 sign up fee, tenants must sign up for RentReporters in their Tenant Portal.
Property manager and landlord next steps: Once your tenant is enrolled in RentReporters the software will automatically begin reporting on time payments to RentReporters. Tenants can choose to cancel at any time.
Laws about Rent Payment Reporting to Credit Bureaus
A new law in California requires landlords to offer rent payment credit reporting if requested by a tenant for leases starting April 1, 2025. Rentec Direct’s integration with RentReports makes it extremely easy for California landlords to be compliant with this new requirement.
Read the Bill: California AB-2747 Tenancy: Credit Reporting Requirements
It’s advised that everyone review their local and state rent reporting and tenant communications regulations to ensure compliance.
Final Thoughts
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Suggest a Feature
Our goal is always to make your tasks as a landlord, property manager, or investor simpler, quicker, and more efficient. One of the ways we accomplish this is by reviewing valuable feedback and input from our awesome clients. If there is anything you would like to see added to enhance your Rentec Direct experience, please send your ideas and suggestions to success@rentecdirect.com and help us shape the future of Rentec Direct.
About Rentec Direct
Rentec Direct provides industry-leading property management software and tenant screening solutions for real estate professionals. Key features include online rent payments, a mobile app and tenant portal, vacancy listing syndication, and accounting tools. Founded in 2007, Rentec Direct is the third-largest software in its sector and is consistently the highest-rated by investors, landlords, and property managers. Recognized on the Inc. 5000 list of fastest-growing private companies for eight consecutive years, Rentec Direct was also named Real Estate Company of the Year in the 2024 American Business Awards and listed among the U.S. Chamber of Commerce’s Top 100 Small Businesses. www.rentecdirect.com