One of the reasons people look for rent to own properties is that they don’t have the credit score to qualify for a mortgage. For those people, renting to own seems to be a pathway to home ownership. However, one of the biggest challenges for rent to own companies is that many tenants don’t improve their credit score during the lease period and therefore still can’t qualify to purchase the home. However, rent to own companies can offer credit repair for rent to own tenants.

Instead of signing a lease option to purchase and hoping a tenant can qualify at the end of the term, rent to own companies can offer an affordable credit repair program. The company can even monitor the progress of the tenant’s credit reports and credit scores. Our program will work to remove derogatory information from the tenant’s credit report and add positive accounts as well during the term. They can even have the payments that they are making to rent the home reported on their credit reports at no cost to the rent to own company.

  • Tenants will see their 3 credit scores and be able to monitor that score in real time.
  • They will have access to their 3 credit bureaus reports and derogatory items
  • Tenants can then choose which items to be disputed through the credit bureaus
  • Derogatory items can be disputed in less than 10 minutes
  • Tenants can have monthly bills such as cable, water, electric, and cell phone reported to the credit bureaus
  • They can also have the payments made to the rent to own company reported each month

This combination of removing negative tradelines and adding positive ones can give tenants a boost in credit scores from 50 to 150 points in a 2 to 8-month period.

The cost of our program is $179 to set up the account, and just $79/month thereafter with no contract and no minimum time on service. For someone that wants to purchase a home, this is a nominal cost to get themselves in a position to qualify for a mortgage by the end of the lease term.

By offering this service directly, the rent to own company receives $75 upon enrollment of the tenant and $10.month each time the tenant makes their payment. Or, if they simply want to refer the tenant to us, we can enroll them.

credit repair for rent to own tenants
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