Purpose
This article explains the discrepancy that may arise when the reported amount reflected on a resident's credit report does not match their rent payment amount. It clarifies how Esusu integrates with the property management system and ensures transparency regarding reported rental payment data.
Overview
Esusu collaborates with property management companies to facilitate the reporting of residents' on-time rental payment data to the credit bureaus. The amount reported on a resident's credit report is directly sourced from the information provided by the property management system.
Integration with Property Management System
Esusu is integrated into the property management system to streamline the reporting process. The amount reported to credit bureaus is based on the data shared with Esusu by the property. This includes the exact rent payment amounts or base rents recorded in the property's ledger.
Reasons for Discrepancy
Discrepancies between the rent payment amount and the amount reported on the credit report can occur due to various reasons:
- Additional Charges: Certain properties may include additional charges (e.g., utilities, fees) in the rent payment that should not be included in the rent reporting
- Timing of Reporting: Differences in reporting timelines between the property management system and credit bureaus can lead to temporary mismatches in reported amounts.
- Adjustments: Changes or adjustments made to the rent payment after the initial reporting may not immediately reflect on the credit report.
Ensuring Accuracy and Resolving Discrepancies
Esusu strives to ensure accuracy in reporting by regularly syncing with the property management system's data. Residents can verify the amount reported on their credit report against their rent payment receipts to identify any discrepancies. If residents notice discrepancies between their rent payment and the amount on their credit report, they are encouraged to contact their property management or Esusu's Rent Reporting team promptly. This allows for clarification and, if necessary, correction of any inaccuracies in the reported data.