Q: What is Rent Reporting?
A: Rent Reporting is a way to ensure that your recurring monthly payments are communicated to Credit Bureaus.
Having your rent payment history reported can be a positive signal for creditworthiness. Improving your credit helps you with future financial milestones such as getting a mortgage, purchasing a car, and renting a new apartment.
Q: How do I sign up for Rent Reporting?
A: Once your property has enrolled, residents begin receiving recurring communications from Flex confirming opt-in for rent reporting. No additional actions are needed from the resident.
Actively enrolled residents are able to opt-out at any point during the program.
Q: Which bureaus does Flex report to?
A: Flex reports directly to TransUnion. We are looking to expand to Experian and Equifax shortly.
Q: Can Flex Rent Reporting hurt my credit score?
A: No, Flex will only report successful rent payments as a way to help build-up your credit history.
Note: Rent Reporting is separate from existing credit reporting for users who have a credit line with Flex.
Q: How do I know if my property offers Flex Rent Reporting?
A: Residents at enrolled properties will receive monthly emails confirming their enrollment.
Q: What do I do if I am an existing user on Flex to split my rent?
A: No additional action is needed from your end. A resident can be a part of both Flex’s flexible rent and rent reporting offerings.
Q: How do I unenroll from Flex Rent Reporting?
A: If you are actively enrolled, you will receive an enrollment confirmation email from Flex each month several days prior to the start of the month. You are able to unenroll directly through that email.
Q: How much does rent reporting cost?
A: For enrolled properties, Flex Rent Reporting is complimentary to all residents.