Tenant rent reporting ‘first’ for letting agents launches

Letting agents who use SME Professional can now report their tenants' rental payments or lack of them via CreditLadder.

creditladder rent reporting

For the first time in the UK letting agents can report their tenants’ rental payments to the big credit agencies using their own lettings software.

That’s because rent reporting service CreditLadder has integrated its Connect service into SME Professional, the market-leading property software solution for the lettings and sales sectors.

CreditLadder says that, with just under 40% of people in the UK renting their homes, this partnership will help bring “financial fairness to millions of tenants”.

If a letting agent report a tenant’s using SME Professional, they will see an improvement in their credit history and credit score because their rent payments will be reported to the UK’s leading credit reference agencies.

The main appeal for agents is that it also encourages on-time payments as missed rental payments can also be added to their credit files.

Payments

Fraser Sutherland (main image, inset), Managing Director SME Professional, says: “Rent Reporting not only benefits tenants by helping them access fairer finance but has been shown to improve on-time rental payments to landlords.

sheraz dar
Sheraz Dar, CEO, CreditLadder

“We look forward to our continued partnership with the UK’s first and biggest rent recognition platform.”

Sheraz Dar (pictured, right), CEO at CreditLadder, says: “We are committed to helping tenants improve their credit position and this is yet another way we will bring rent reporting to more and more tenants.”

Unfair
Stuart Williams Director, Northwood
Stuart Williams Director, Northwood

Stuart Williams (pictured), Director of two Northwood branches, says “I have always felt it is unfair that tenants do not get credit for making their rent payments.

“On the flip side, rent arrears are becoming an ever-increasing burden but we’ve noticed that all of our tenants on CreditLadder pay their rent on time, every time, which makes us and our landlords much happier.

“Their solution promotes good behaviour and it’s something we can now build into all new tenancy agreements for the first time.”


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