Thursday, June 9, 2016
Experian, Yardi Link Rent Payments To Credit History
Costa Mesa-based Experian, the consumer credit ratings bureau, and Santa Monica-based real estate software developer Yardi said Wednesday that the two are in a deal, which will report rental payments to Experian's RentBureau. The two said that Yardi's property management clients can sign up to automatically have their rental payment history reported from Yardi's Voyager software. According to the two companies, the move will enable consumers to "build credit history" through on-time rental payments; the two also acknowledged that the connection will help property managers prevent lease skips, enhance faster debt recovery, and help make sure more residents are paying their rent in a timely manner. Yardi also said that rental payment history data will be available in another of its products, Yardi Resident Screening, which helps property managers vet rental applicants.