New data affirms how positive rent reporting is helping renters turn on-time monthly payments into credit building and homeownership opportunities

Progress Residential^®, a leading provider of professional property management services for single-family rental homes, today announced results from its free positive rent reporting program.

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Progress was the first in the SFR industry to offer positive rent reporting to all three credit bureaus at no cost to residents. Since launching in 2022, the program has helped more than 11,000 residents establish first-time credit scores and thousands more improve existing scores by more than 47 points on average.

In addition, the latest data shows participants in the program have accessed more than $8 billion in mortgage loans. Progress is committed to supporting our residents in their journey to homeownership by providing resources like free positive rent reporting that can contribute to their long-term financial goals.

“For too long, renters have been left out of systems that support financial growth,” said Ama Romaine, General Counsel of Progress Residential. “This program represents Progress’ commitment to providing solutions that help our residents build credit, access financial tools and work toward their long-term goals. In turn, these efforts contribute to strengthening stable, thriving communities.”

Why it Matters: Closing the Credit Gap

Nearly 106 million people living in the United States, about one-third of the population, are considered credit invisible, credit unscoreable or have subprime credit. This limits their ability to access loans, qualify for competitive interest rates and achieve economic mobility.

Renters are disproportionately affected by credit invisibility because on-time rent payments, often their largest monthly expense, typically are not included in traditional credit reports. Positive rent reporting can help close this gap by making rent count toward credit reporting at no cost to residents.

Progress Residential is proud to set the standard for how professional property managers can contribute to expanding financial access and creating pathways of opportunity for renters across the country.

The free rent reporting program is administered to Progress residents in partnership with Esusu, a leading credit-building and financial wellness platform.

About Progress Residential

Progress Residential is a leading provider of professional property management services for tens of thousands of rental homes in more than 30 U.S. markets. We harness data and technology to innovate and invest in the leasing and living experience for the residents we serve, expanding access to secure, stable housing and empowering residents to live in the communities of their choice. Learn more at rentprogress.com.

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