Beginning July 1, 2021, California Senate Bill 1157 (SB 1157 or the California Rent Reporting Bill) requires property managers who own or operate at least 15 affordable housing units to offer rent reporting to their renters. Rent reporting is the process or furnishing rental payment data to the credit bureaus, it serves as an effective way for on-time payers to build credit with one of their largest monthly expenses—rent. Property managers can cover the cost of rent reporting or pass the fee onto the renters that opt in.
As an FCRA-compliant data furnisher, Boom reliably reports rental payment data to all three major credit bureaus.
End-to-end software that can integrate with your property management system.
Easy renter rollout with pre-made email templates, marketing materials, lease addendums, and more.
Certificates and reporting to prove you're in compliance.
Options to charge your renters directly or have them pay via the Boom app.
Dedicated team members to answer questions from you and your renters.
Boom reports rent payments to all three major bureaus—Experian, Equifax, and TransUnion—so your renters get maximum credit impact across the board.
California Senate Bill 1157 (SB 1157 or the California Rent Reporting Bill) went into effect on July 1, 2021.
Property managers must offer on-time only rent payment reporting at the time of leasing and once annually thereafter.
Use BoomReport to ensure your portfolio is compliant with SB 1157.