Q: Why should I report my rent?
A: If you pay your rent on time every month, reporting your rent to credit bureaus can be an easy way to add positive payment behavior to your credit report. Rent reporting could be a good alternative to taking on loans or lines of credit that might encourage additional spending.
Your credit score will depend on a number of factors that include, for example, your credit utilization ratio, the mix of credit you currently have open, and your payment history. So, while paying rent and having it reported to credit bureaus can make a positive impact on your credit score, it will only ever be one of many factors that affect your credit score.
Q: How does rent reporting work?
A: Once you enroll in rent reporting through Zillow payments, the following will happen:
- We’ll identify on-time payments made on our platform (within 30 days of the due date)
- We’ll report those to Experian and Equifax
- A new tradeline will mark each on-time payment as a positive credit action
- We’ll continue reporting your payments monthly as long as possible
Payments will no longer be reported if you opt-out of the service, you fail to make a payment for three consecutive months, or if your landlord stops accepting Zillow payments. Zillow reserves the right to terminate this service at any time, see our Terms Of Use.
Q: What counts as an on-time payment?
A: Any payment processed on our platform within 30 days of the due date counts as an on-time payment. Should your payment be later than 30 days past due, we will not report that late payment to Experian or Equifax. Our goal is to help you build credit, and you can opt-out of this service at any time.
Q: What happens if a payment is late?
A: Late rent payments won’t be reported to Experian or Equifax via Zillow Payments. However, if you want to improve your credit score, it’s important to consistently pay rent on time so those rent payments can be reported each month.
Q: When will I see a change in my credit score?
A: Please allow at least 30 days for your credit score (FICO® 9/XD/10/10T and VantageScore® 3.0/4.0) to be updated once you begin reporting rent payments.
Q: What information of mine is Zillow sharing with Experian and Equifax?
A: To verify your identity and enable reporting of your on-time rent payments, the following data is shared monthly via secure/encrypted systems:
- Your identifying data (name, address, date of birth)
- Your lease data
- Your payment data
Q: Can Zillow see my credit history?
A: No. We provide your payment data to Experian and Equifax, but we do not do any soft or hard credit pulls on your credit report as part of this service. For instructions on how to view your credit report for free, consider using this service.
Q: Can I opt out of rent reporting?
A: Yes, you can opt out of this service at any time via your payments dashboard. Please note that at this time we cannot support re-enrollment in this program once you have opted out during your current lease term.
Q: How much does rent reporting cost?
A: This service is free, when using Zillow payments. While many providers charge fees for rent payment reporting (which may include an initial enrollment fee and a monthly subscription fee), we believe renters should have the opportunity to build their credit at no cost.
Q: I already have great credit. Do I need this?
A: Even renters with excellent credit may still see a boost from this service when they pay rent on time.
Q: What happens if I see an inaccurate report on my credit report?
A: Renters have the ability to dispute any inaccurately reported payments. Keep in mind that it can take 30-60 days for the bureaus to process data sent to them about your payment history. Disputes can be filed by contacting Zillow Customer Support, as part of the full dispute process which is outlined in our Terms of Use.
Q: Which credit bureaus are my rent payments reported to?
A: Zillow currently reports to Experian and Equifax.
Q: Which credit scores will this impact?
A: When enrolled in rent reporting, your on-time rent payments could increase your credit score with each on-time rental payment (assuming all of your other credit accounts are also in good standing). Specifically you’ll want to pay attention to credit scores that are designed to incorporate rental data such as VantageScore® 3.0 and 4.0 and FICO® Scores 9 and 10.
Keep in mind that your credit utilization ratio may be impacted by using a rent-reporting service, but these effects may be minimal, depending on your recent history.
Q: I’m a landlord. How do I provide this service for my tenants?
A: This service is available to any renter who pays rent using Zillow Payments. Any landlord or property manager can provide access to this service by signing up for Zillow Rental Manager and setting up rent payments for their renter. Once a renter opts into the service, payments will begin being reported for that lease term. There’s no cost to renters or landlords for using our payments product. Get started here.
Q: If I opt-out of rent payment reporting, can I opt in again in the future?
A: Once you opt out of Zillow rent payment reporting on a current lease, there is currently no way to opt into the program again. This includes renters who are automatically unenrolled due to insufficient payment history after 3 months of no on-time payment history.