chfa’s investment in rent reporting

Colorado Housing and Finance Authority’s (CHFA’s) Rent Reporting Program is an innovative housing solution that enables multifamily property owners of CHFA-supported properties to connect with a leading rent reporting provider to report residents’ positive rent payments directly to credit bureaus to help establish or improve residents’ credit scores. 

The Program was created as a pilot in 2020 as a result of legislation authorized by the Colorado General Assembly. The pilot saw strong outcomes that helped raise and establish credit for enrolled residents (PDF). Recognizing the benefits for renters, CHFA expanded the Program in 2025, to sponsor rent reporting for up to 20,000 residents across Colorado.

CHFA invests in positive rent reporting for residents living in CHFA-supported properties to help residents establish and build their credit.

How Rent Reporting Supports Residents

For many renters, monthly rent is one of the largest and most consistent financial obligations. Yet, unlike mortgage payments, rent payments are not traditionally included in the information used by major credit bureaus to calculate credit scores. This creates a significant gap for renters who consistently pay their rent on time but have limited or no credit history. Rent reporting offers a solution by allowing positive rental payment information to be reported to credit bureaus, giving renters an opportunity to establish or improve their credit using a regular expense. 

Credit scores play an important role in accessing financial opportunities, including loans, housing, and other forms of credit as well as long-term financial goals like homeownership. By documenting a history of consistent payments, residents have the opportunity to establish or raise their credit to help them reach their financial goals.

Rent reporting can also benefit property owners and housing providers. When residents recognize that timely payments can positively impact their credit histories, they have additional incentive to pay rent on time. Further a TransUnion report found that renters are more likely to rent from property managers who report on-time rental payments.

Equity Considerations

Rent reporting has important implications for financial inclusion and economic equity. Renters, particularly those with limited access to traditional credit, may make years of reliable payments without receiving the credit-building benefits available to homeowners who pay mortgages. This creates an imbalance in how financial responsibility is recognized. Rent reporting helps to address this gap by allowing renters to establish credit histories without taking on additional debt or purchasing assets.

Rent reporting is also an important tool for historically underrepresented and “credit-invisible” renters. Demographic factors associated with having low or no credit include age (under age 25), individuals living in low-income neighborhoods, and certain racial and ethnic groups who have faced longstanding barriers to wealth building. Research from the Urban Institute suggests that incorporating rental payment histories into credit scoring could help narrow the Black-White homeownership gap.

While rent reporting alone cannot eliminate disparities in unequal access to financial resources, it is a helpful tool in harnessing the housing sector to address equity gaps.

CHFA’s Investment in Rent Reporting

CHFA’s Rent Reporting Program offers a practical way to recognize residents’ consistent housing payments and translate that financial responsibility into stronger credit histories while upholding important tenant protections to safeguard against harm. CHFA’s rent reporting provider ensures only positive and on-time payments are collected, so residents are not penalized for missed or incomplete payments. Further, CHFA is sponsoring the cost of the rent reporting service for a period of three years, so participation comes at no cost to the resident or the property manager. Finally, CHFA’s program utilizes an opt-in model meaning participation in the program is voluntary for both property managers and residents. Participants who choose to enroll may opt out at any time. These safeguards help to promote a relationship of trust between residents and landlords.

By combining responsible implementation with efforts to address credit barriers, CHFA’s Rent Reporting Program is seeing success by strengthening financial stability and promoting a more inclusive housing and financial ecosystem.