Hello all. I've got a question on rent reporting...
I've been at my same appartment since February, 2021 and in the 3 years I've been here, there have been two different property managment companies. Well here about two months ago, it changed again to this company called Rent Builder. My lease expires the end of this month, but have already agreed to my 3rd renewal. In the lease agreement, this new company uses a credit reporting service called CredHub, that "monitors" your credit and reports monthly rent payments to the bureaus. I asked the new manager to optout, and their response was its part of all their leases and opting out isn't an option. Fast forward to Yesterday morning, I received alerts that a new account was added to my credit. My score was not affected, but I noticed that my dept to income on creditkarma went from 31% to 54%, and this account is showing up as a loan that is paid off?
So my question to you all is, has anyone had experience with this stuff? Do I need to dispute the type of account for it to not mess with debt to income, or is it supposed to? Also, since i've been here for three years, and have never missed a rent payment, are they legally obligated to report all my past years of payment history?
