City Comptroller Promotes Program to Help Tenants Lift Credit Scores

Scott Stringer, New York City comptroller, recently issued a report encouraging owners and property management companies to give tenants the ability to opt in to reporting their rent payments as a way to boost their credit scores. Looking at a sampling of tenants paying less than $2,000 a month, Mr. Stringer’s office found that 76 percent of them would see their credit scores improve if their rental payments were included. An additional 18 percent of tenants would probably see no material change to their credit score but would gain additional depth to their credit report.