Rent Advantage reports to Equifax Canada on a monthly basis. You will need to log in each month to confirm your rent payment.
Your first rent payment will be reported by Borrowell to the credit bureau one business day after you make your Rent Advantage subscription payment, and your rent payment has been confirmed. Typically, it can take up to 90 days for the first credit report update.
Your subsequent rent payments will be reported to Equifax Canada by the last business day of the following month that your rent payment was made. For example, any rent payment made in July will be reported to the credit bureau by the last business day in August. Depending on the credit bureau’s processing time after we report to them, it may take up to 4 weeks for rent payments to reflect on your Equifax Canada report.
You can keep track of the reporting status directly from your Rent Advantage dashboard!