Rent reporting is affecting tenants’ credit scores

Source: Amy Scott & Sofia Terenzio, Marketplace

In New York City recently, more landlords have started reporting tenants’ rent payments to credit bureaus. While on time payments can help build tenants’ credit scores, tenants who miss payments or withhold their rent may see their credit scores negatively affected.

One of the biggest things that landlords look at when they’re deciding whether or not to rent to a tenant is their credit score. So if your credit score is affected negatively, because of a dispute that you’re having with your current landlord, and they’re reporting your late rent, or missed rent, even if it’s for a totally legal reason, that might affect your ability to move out of that place, and get a new apartment. It’s sort of this like savvy way to soft blacklist tenants from getting apartments.

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