California Landlords and the New Law Requiring You to Report to Credit Bureaus скачать в хорошем качестве

California Landlords and the New Law Requiring You to Report to Credit Bureaus

California Landlords and the New Law Requiring You to Report to Credit Bureaus Some Riverside, Moreno Valley, Corona, Inland Empire Rental Property Owners now must report on-time rent payments to credit bureaus Starting this month, a new California law gives rental home residents the power to choose whether or not they want their on-time rent payments reported to credit bureaus. Similar to the what homeowners get when they make their mortgage payments. What does this mean for renters in California? If you opt in and consistently pay your rent on time, positive credit reporting can help: Build or boost your credit score Strengthen your financial profile And open doors to better loan and rental opportunities Opting in is totally voluntary — and there’s no penalty if you decide not to participate. Most of our current residents already have this benefit as part of their Resident Benefits Package. But for those who don't subscribe to that package, you can now elect the credit reporting a la carte. The service charge for any household that opts in a la carte is just $3.50 and that covers all adults named on the rental agreement. Emails went out this week with notices and a link to opt-in. If you did not receive one, check your spam folder, or give us a call at 951-778-9700 and let us know. What about property investors? If you own 15 or more residential units in California, or just more than one property, regardless of number of units (yes, just two single-family homes will qualify), you must offer this option to your residents. Dream Big is handling all of the paperwork, notices and compliance requirements and has the credit-reporting service set up with a trusted partner. This is a great service for our residents. It helps people build their credit scores, which can lower their costs of big-ticket items and put them on the road to homeownership, which is the sure-fire way for people to build wealth over time. If you have any questions about this new law or any questions about preparing for homeownership, give us a call at Dream Big Property Mgt. 951-778-9700. Or visit our website, dreambigpm.com. To Your Success! Dream Big Property Management 951-778-9700 Riverside, CA 92506