Rent Payments reported


This is what the Residential Rental Industry has been waiting for. A repository that identifies good and bad tenants, low and high risk.

High risk tenants have been using and abusing landlords for years. Going from landlord to landlord, not paying rent and causing thousands in property damage. There was never a consequence. Until now!

Landlords and property managers report rent payments to www.landlordcreditbureau.ca. EG: On Time, 7 days late, 14 days late, 30, 60, 90, 120.

The tenant is notified that rent payments are reported to LCB via Notice to Tenant and consequences for late rent payments and non payment of rent.

Good tenants benefit and bad or high risk tenants are negatively impacted. Tenants can monitor their account and are more likely to make on time rent payments where they know that it is reported.

Reporting rent payments benefits good tenants because many do not have a stellar credit history, so reporting on time rent payments leads to a good tenant history, and you the landlord can issue a Certificate of Satisfactory Tenancy at the end of the tenancy. Now instead of a tenancy application being rejected for a bad credit history, they can be accepted because they have a good tenant history.

Reporting rent payments or tenant pay habits, benefits the entire Residential Rental Industry. LCB networks landlords with good tenants. Bad or high risk tenants will no longer be able to rip off numerous landlords. If every landlord and property manager reported rent payments, then one high risk tenant should only be able to rip off one landlord, one time.

LCB has features, such as email reminder to tenant advising that rent is due at the end of the month. And auto settings that negate having to spend a lot of time reporting. Property Managers will like this.

There is NO COST for landlords or property managers to report rent payments. Tenants will pay a small annual fee to monitor their account.

Landlords and property managers who are members of TVS at www.tenantverification.com can obtain Equifax Canada Consumer reports that show rent payments, and report directly from that site.

Tenants wishing to create a good tenant history should refer a landlord to this site.