Author Topic: Rental payment history/credit score building  (Read 1793 times)

Paul der Krake

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Rental payment history/credit score building
« on: June 12, 2017, 07:44:17 PM »
So I got this email from my apartment building:

Why would they want to offer this to residents, and can I game it? Is it just to hold it over my head if we have a dispute? Or is it just some analyst going on big data binge?

What kind of credit will it show up as on my report? There may be something to be gained from having more than one type of credit, as I only have credit cards.


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Re: Rental payment history/credit score building
« Reply #1 on: June 13, 2017, 01:39:29 AM »
Very interesting...  The thing with rentals is, in most jurisdictions, if someone goes more than 30 days past due, you can start eviction proceedings.  Those are something almost all property management companies look for before renting.

One one hand, since credit reports don't report past due payments before 30 days, I'd be hard to get a late payment without an eviction.  On the other, I wonder if it would be an easy way for them to report an amount owed for lease fines or cleaning/repairs over a security deposit upon move out?  I would think normally a couple hundred bucks isn't worth filing a judgement and they might just write it off, but if they can just report it for free?

One last thought, how would the FICO modeling even take rentals history into account?  Like a mortgage? or would they modify the scoring system specifically for something like this?  I find the later unlikely unless it became the norm to report.
« Last Edit: June 13, 2017, 01:41:15 AM by Classical_Liberal »