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RentBureau (Experian) Reporting Service

Parks Properties has partnered with Appfolio who provides our property management platform to include credit reporting of lease activity or lack thereof. By reporting data back to Experian every 24 hrs we add another layer of importance to our residences how critical that they aren’t late with their payments.

Leases are represented as installment loans on the residences credit history and will also be rewarded for on-time payments. To learn more about this program read

You can also read some FAQs

Rent Bureau

How does Parks Properties notify residents that we are contributing their rental payment information to Experian RentBureau?

The FCRA does not require that property management companies have specific verbiage on their leases. It is Parks Properties company policy to notify the lessee on our Lease Addendum which is signed and initialed next to this statement “Parks Properties may report rental payment data to credit agencies”.

Is it legal to contribute rent payment information for my tenants to Experian RentBureau?

Experian RentBureau has done extensive legal analysis on this topic and determined that a property management company owns the legal rights to tenant payment data and therefore have the right to contribute their data to a credit reporting agency.

What are the Benefits of Rent Bureau?
  • Improve bad-debt recovery – Report write off/bad-debt balances to prevent from getting a new lease at another property without satisfying their debt obligation with Parks Properties
  • Reduces skips – Provide lease begin and end dates to help identify those applicants who are in an existing lease and attempting to skip
  • Allow residents to establish or rebuild credit – Contribute both positive rental payment data to enable your residents to apply and qualify for credit accounts
  • Increase occupancy – Share your data to attract more applicants who are interested in building their credit through continuous on-time rental payments
  • Encourage on-time payments – Report your residents’ rental histories to create a meaningful credit incentive for them to pay on-time
  • Adhere to Fair Housing requirements – Automatically transmit data directly from our platform to reduce human intervention and eliminate the risk of providing subjective biased data
What happens if we make a mistake and provide incorrect payment history data to Exerpian RentBureau?

Parks Properties will correct the information as soon as possible. Any corrected data is automatically sent to RentBureau from our platform and the residents payment history will then be automatically sent and updated accordingly.

What will the tradeline look like on my credit?

Tradeline Sample

 

Dispute handling options – Experian RentBureau RentReveal report
a. If a consumer would like to dispute an item on the RentReveal report, they can contact Experian RentBureau by calling 1.877.704.4519 or online at http://www.experian.com/assets/rentbureau/brochures/dispute_form.pdf
b. Consumers can request a copy of their RentReveal consumer disclosure online at http://www.experian.com/assets/rentbureau/brochures/request_form.pdf