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Adopting Rent Reporting to Build Credit and Advance Upward Mobility
Many renters in the U.S. face significant barriers to buying homes and building wealth. That’s because renters are seven times more likely than homeowners to have no credit score. Rent reporting – the monthly reporting of tenant rent payments to at least one of the major consumer credit bureaus for inclusion on a traditional consumer credit report – is a strategy that can help renters build the credit they need for stable financial growth.