Continuing with our series on #ChangeTheConversation, I help to coach agents on how talking about the forbidden C word (CREDIT) with your prospects, and clients, can do wonders to the growth of your book, the amount of referrals you get, and the loyalty you get from your clients.
On that note, I wanted to give a quick tip that you could be talking about with ALL of your renters in your book of business.
Ok, this tip is pretty awesome – Let’s face it – If you’re renting, the largest bill you pay every month is your rent, right??
But yet, 99% of the time, your rent does NOT show up on your credit reports because most landlords have no idea that this can be done. Now, it’s not something you can just go add on your own, but there are several companies who can do this for you.
One issue, though, is that most of the companies who will do this are only reporting it to 1 bureau, not all 3.
The only company I know of (and have been recommended by several clients) that reports to ALL 3 major bureaus is a company called RentTrack. I am not affiliated with RentTrack in any way, by the way. RentTrack.com is their website. It basically enables you to pay your rent THROUGH them for I believe $6.95 per month. THEN… they will report your payments on your credit reports – That’s it!!
Now, something that I see they’re about to start doing shortly is make it to where you can just pay them to put it on your reports (and they will just verify with your landlord that you are in good standing), and they are ALSO about to start doing something cool where they will report the last 24 months of PAST rent for you onto your credit reports. That’s pretty sweet!
In any case, I know of a TON of clients who have been able to get their credit score boosted 20, 30, 50+ points by doing this. Try it out!