Multifamily positive rent payment reporting is a win-win
Did you know you can help renters establish, maintain, or improve their credit scores? When they pay rent on time, their positive rent payments can be reported to the credit bureaus to help build credit. Rewarding on-time rent payments could also help improve a property owner’s net operating income (NOI) by reducing delinquencies and turnover.
Fannie Mae’s Positive Rent Payment pilot connects property owners of Fannie Mae-financed buildings with fintech providers that can report the positive rent payments of their residents directly to credit bureaus.
Since the pilot launched in September 2022, we’ve been monitoring the impact.
Poll results indicate that over 80% of renters want rent reporting.
For property owners
Participate in the pilot at no cost.
Fannie Mae will cover the cost of one year of Positive Rent Payment reporting services via one of the three designated vendors. To simplify the process, Fannie Mae will pay the vendor directly. The pilot ended June 30, 2025.
Reporting rent may increase timely rent payments.
When rent is reported, renters may be motivated to pay on time, which could help reduce delinquencies, evictions, and turnover.
According to a TransUnion study, 73% of renters are inclined to pay rent on time when their rent payments are reported.
Help renters establish or improve their credit scores.
Informed and responsible residents are good for you and your property(ies).
Offer the amenity of rent reporting to your renters.
Rent payment reporting can help you attract and retain renters as it can be viewed as an amenity to help them establish or improve their credit scores. According to a TransUnion study, 58% of renters surveyed are more likely to rent from someone who reports rent payments.
For renters
Make rent count. Rent is the largest recurring monthly expense that many households pay. Having on-time payments reported to credit bureaus can help prepare renters to buy a home or get a better rate on a loan.
Open the door to homeownership. Having sufficient credit can help individuals qualify for a mortgage.
Access lower-cost credit. Reliable, on-time payments, when reported to the credit bureaus, can help renters increase their credit score. Better credit scores lower the cost of financing to purchase a car, start a small business, or borrow for education.
Establish credit profiles. Rent payment reporting enables “credit-invisible consumers” (individuals without credit history) to build credit.
Find housing in higher-opportunity neighborhoods. Credit scores are a factor used to screen prospective renters. Individuals with stronger credit scores may qualify for housing in a wider array of areas.
Possibly lower future rent security deposits. A renter’s credit score can impact the size of their security deposit. If a renter has a low credit score, a landlord might request a higher security deposit amount. If a renter has a high score, they could lower their security deposit.
Positive Rent Payment Reporting Initiatives
Discover how positive rent payment reporting can help renters build credit, help enable lenders to qualify more homebuyers, and assist multifamily property owners in attracting and retaining tenants.