Gid property management3/1/2023 ![]() ![]() To enroll in free rent reporting, Bilt Rewards members living in Windsor Communities can opt-in through the Bilt mobile app starting today. "By taking advantage of this service, renters will have the opportunity to boost their credit scores, gain access to lower interest rates, and approve their ability to qualify for a mortgage when they are ready to buy a home." ![]() "Offering free rent reporting is a huge step forward in breaking down the barriers to establishing credit for millions of Americans," says Jonathan Lawless, Director of Homeownership at Bilt. This can be a disadvantage particularly for Gen-Z and Millennial renters, many of whom carry "thin files" due to their short credit histories, making it difficult for lenders to see them as strong borrowers.Ī recent TransUnion study, however, showed that when rent payments were included in a credit file, consumers experienced an average increase of nearly 60 points to their credit score, which can make a significant difference in access to loans and mortgage rates. ![]() counts over 109 million renters across nearly 45 million apartments today, it's estimated that less than 10% of those renters currently see their on-time rental history reflected in their credit scores. Our partnership with Bilt allows us to offer services that extend beyond traditional amenities and will make a difference for our residents for years to come."Īligned with Bilt's mission to improve the financial outcomes and quality of life for renters, Windsor Communities will work with Bilt to include resident rent payments within their consumer credit files, free of charge for residents. Of the new offering, Tom Sloan, Executive Vice President of GID and President of Windsor Communities says, "At Windsor Communities, we are invested in the wellbeing of our residents and aim to create value for them by offering amenities that truly benefit their day-to-day lives. Starting today, renters at the more than 130 properties will be among the first to receive access to free rent reporting with each on-time rent payment, helping renters to build their credit score and in turn, qualify for lower borrowing rates and greater financial opportunities when they look to buy a future home. NEW YORK, J/PRNewswire/ - GID, a fully integrated real estate company with a wholly-owned property management company, Windsor Communities, and Bilt Rewards, the leading rewards platform for renters, today announce a partnership enabling free rent reporting to landlords and residents within Windsor Communities, a network of over 46,000 rental units across the country. ![]()
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