Rental credit reporting
Attract and retain responsible residents who pay rent online and on time with Zego™ Pay LevelCredit Reporting.
Zego™ Pay LevelCredit Reporting
Offer prospective and current residents a unique benefit when they pay rent online with Zego™ Pay LevelCredit Reporting. Residents simply opt-in to LevelCredit to automatically have their rent payments reported to credit bureaus by LevelCredit and begin building credit from those payments. Providing rent payment credit reporting can help you attract and retain more responsible residents and help them develop stronger credit histories and scores.
Why residents love building credit by paying rent
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Easily build credit without debt:
Residents can build their credit histories by automatically reporting rent payments they are already making.
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Get a leg up on future plans:
Residents can work towards improving their credit scores and reaching their financial goals with greater access to lower interest rates for car and home loans.
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Enjoy a unique (and free) community benefit:
Residents can report rent to credit bureaus at no additional cost.
Zego™ Pay LevelCredit Lookback
Residents may choose to take advantage of the Zego™ Pay LevelCredit Lookback feature that automatically detects previous payments made through Zego Pay for up to two years on the same lease. Reported in bulk, this allows residents to benefit from their prior payments history if desired, for a one-time fee.
Are you a resident that has questions about how rental credit reporting works? Visit our FAQ page.
Why property managers should offer rental credit reporting
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Stand out amongst competitors:
Differentiate your community with rental credit reporting, which helps you attract and retain responsible residents. Research by TransUnion shows that 67% of renters would choose the apartment with rental payment credit reporting in place when selecting between identical apartments.
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Save time:
Reduce manual paper processing when more residents pay rent online so they can benefit from rental credit reporting. Research by TransUnion also shows that 73% of renters would be more likely to make on-time rent payments if property managers reported rent payments to credit bureaus.
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Improve cash flow:
Reduce delinquencies with a unique community benefit that encourages on-time rent payments online.
Start saving time & improving cash flow with rental credit reporting
Contact us to learn more about taking advantage of Zego™ Pay LevelCredit Reporting for you and your residents.
1. Residents opt in
Residents can opt-in with LevelCredit through the Zego™ Pay platform at no additional cost.
2. Rent payments are reported
All rent payments made through the Zego™ Pay platform (ACH, credit, debit, digital wallet, CashPay) are automatically reported to two of the three credit bureaus by LevelCredit.
3. Residents can build their credit
Help your residents achieve their financial goals, and attract and retain responsible residents with this valuable benefit.
4. Communities thrive
By encouraging residents to pay online and on time, you improve cash flow, reduce delinquencies and give valuable time back to your staff!
Please note that legacy Zego™ (Powered by PayLease) Credit Reporting clients are being transitioned to LevelCredit in phases. Zego™ will continue to report your resident’s rent payments until you are transitioned to LevelCredit Reporting. If you have any questions about your account please contact our support team.
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