Rent Advantage allows tenants to report their rent payments to Equifax Canada without needing landlord approval. Our Rent Advantage service(s) help Canadian renters improve their credit scores by leveraging their rental payment history.
Rent Advantage services include:
- Monthly rent reporting: A credit building product that allows tenants to report their current and future rent payments to Equifax Canada.
- Past rent reporting: A credit building product that allows tenants to report their past rental payments from up to 2 years ago, to Equifax Canada.
- Rent reporting plus: Our bundled offering, which includes both monthly rent reporting and past rent reporting, at a discounted price.
Note: Once you choose an option, you won't be able to switch or add another later. For example, if you pick Monthly rent reporting, you won't be able to add Past rent reporting down the road, and vice versa. We know that's a bit limiting, and we appreciate your understanding, so please take a moment to pick the option that's best for you.
Key Features:
- No Landlord Verification: We verify rent payments using electronic bank records or manual submission. Landlord involvement will not be necessary.
- Comprehensive Reporting: Current, future, and past rent payments are reported to Equifax Canada. **Depending on the service you are subscribed to.
- Easy Sign-Up: Enrollment is quick and easy. If you have any questions or concerns, our team can be easily reached by contacting us.
Impact on Credit Score:
Lastly, reporting rent payments can positively affect credit scores by enhancing payment history, establishing a credit history for those without other credit accounts, and diversifying credit types.