We report positive and negative payment status to Experian (one of the 3 major credit bureaus) when our tenants pay on time or pay late. This helps them both build their rental history and credit and motivates them to be on time. Not all property managers perform this extra step to get certified to report to a credit bureau. During COVID we have not been able to use this as effectively so we looked for other alternatives.
We started a partnership with a company called Piñata to reward tenants for on-time rent payments. They receive ‘pinata cash’ for rewards and are entered into raffles when they pay on time. Last month one of our tenants won $1000. One of the many ways we foster a great relationship with our tenants and why we have great online reviews from both property owners AND tenants.
Prices in our market are going up, we are going to be the next Seattle or Bay Area. Now is the time to buy! Visit our website and under the ‘owners’ tab look for the properties for sale page. Any of these would be great investments.