Dallas-based Riverstone Residential Group announced Wednesday that all of its properties will now report resident payments to Experian RentBureau, a company that collects updated rental histories from property management companies every 24 hours and makes its rental history data available to other multifamily owners and managers.
Riverstone argues that storing this data will encourage residents to pay their rent on time. It will identify residents who might have great credit but delinquent rents payments, but also those who have poor credit but always pay their rent on time. Mark Stringer , senior vice president of Riverstone Screening Services and Riverstone Receivables, thinks collecting this information is a positive move for the company.
Read more...Riverstone to Report Resident Rental Payment History to Experian - Rent Trends - Multifamily Executive Magazine
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