Rent Reporting platform CreditLadder has integrated into SME Professional, a software service sold to the letting and sales industries. It says that for the first time, letting agents will be able to offer Rent Reporting directly to their tenants based on the rent they’ve received.
The PropTech firm says tenants will benefit from an improvement in their credit history and credit score when their rent payments are reported to credit reference agencies. It will also encourage on-time payments as missed rental payments can also be added to their credit files.
An SME Professional spokesperson says: "We are excited to be partnering with CreditLadder to provide our clients’ tenants with the option to report their rent to credit referencing agencies and help improve their credit score. Rent Reporting not only benefits tenants by helping them access fairer finance but has been shown to improve on-time rental payments to landlords."
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