CHICAGO--(BUSINESS WIRE)--Today’s economy runs on credit. Building a strong track record of on-time payments is vital and can impact everything from your ability to open a credit card or buy a home. Yet, many of the 43 million renter households in the United States aren’t having their regular on-time rent payments reported on their credit reports.
To help renters more easily build their credit history, Rentalutions, the online platform that makes it easy for independent landlords to manage their properties, today announced a new partnership with TransUnion. Starting in early 2018, Rentalutions landlords will be able to report tenants’ rent payments to TransUnion, free of charge to both tenants and landlords. This allows tenants to demonstrate a history of regular, timely payments to potentially improve their credit standing, while landlords can incentivize online and on-time payments.
“As more people put off buying homes or cars, it’s become increasingly difficult to build credit. Yet many folks who don’t have much credit history, often do have a history of paying rent on time,” said Ryan Coon, CEO and cofounder of Rentalutions. “Until now, there hasn’t been a convenient, cost-effective way to report rental payments. We’re excited to partner with TransUnion to continue making the rental experience better for both landlords and tenants.”
“Monthly rent payments are one of the biggest financial responsibilities for millions of Americans, yet too many renters aren’t seeing their timely payments on their credit report,” said Maitri Johnson, Vice President, Multi-Family & Background Data Solutions at TransUnion. “We’re excited to work with Rentalutions to provide this service for independent DIY landlords and their tenants.”
Rentalutions currently services more than 50,000 landlords across the nation, providing digital tools to advertise vacant units, screen tenants, collect rent and manage maintenance. To learn more about Rentalutions, visit www.rentalutions.com.
Rentalutions empowers do-it-yourself landlords and their tenants with knowledge and resources to make renting easy. More than 50,000 landlords and 100,000 tenants across the U.S. use Rentalutions to save time and make money through simplifying and digitizing the entire rental process, including: rental listings, tenant screening, customized leases, online payments and maintenance requests. Learn more at https://www.rentalutions.com.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide. We call this Information for Good. http://www.transunion.com/business