Paying Rent to Increase Credit

Beginning in June 2021 we will be offering The Landlord Credit Bureau services to our landlord clients and residents. 

Until now a credit score check was only a necessary step in the tenant approval process. 

Now tenants can use their on-time rental payments to bolster their credit score and landlords can create credit consequences for those who do not make timely payments. 

Paying rent has been historically discluded from a person's credit score. Landlord Credit Bureau CEO Zachary Killam states "There are many renters with poor credit scores who actually have a good record of paying their rent on time, and they have a harder time getting housing because landlords check credit scores. We should be giving credit to consumers for paying their rent on time."

The Landlord Credit Bureau is linked with Equifax, a main credit bureau in Canada. We will be reporting tenants' payments, or non-payments, to the Landlord Credit Bureau, which will then be reported to Equifax and influence credit scores.

New tenancy agreements, approved by our landlord clients, will include a clause that tenants must consent to, to have their rental payments reported to Equifax. 

We feel this positive development we will soon be offering empowers property managers and landlords to motivate and reward responsible tenant behavior. Tenants are able to build a positive rental record of payments while using their largest monthly expense to build positive credit.

Featured Testimonial

Ashley and her team have been helpful and professional in all ways. Initially, we were out of the country and in need of a place to live rather quickly. Ashley not only answered all of our questions immediately, but she also provided us with the details and paperwork to help us finalize the arrangements within 48 hours. Since that time we've thoroughly enjoyed our villa and the experience of living by a lake. And we greatly appreciate the care and attention to repairs, maintenance and general ongoing rental processes demonstrated by Ashley and RE/MAX. Many thanks, Ashley, to you and all involved.   -Lori Dean and Kim Meyer