Affordable housing is historically more stable in a downturn, less volatile and often has better credit quality than class-A....
Tech Partnership to Focus on Affordable Housing Applicants
March 28, 2022
On both the consumer side, and the business side, the emergence of insuretech, fintech and, of course, proptech is still playing out. How those technologies interface with clients varies – as do their successes or failures.
The key players, per a news release:
- Esusu is a fintech company that reports rent payments to the three major credit bureaus (Equifax, Transunion, and Experian) with the goal of helping renters boost their credit scores and assist property managers with maximizing returns.
- KIMC is a firm that focuses on value-based real estate investments with favorable risk/reward characteristics.
Critical is just how the proptech gets into the realm of fintech and, ultimately, consumer tech.
KIMC launched a new program for its affordable housing communities to help residents improve their credit profiles led by Esusu with the goal of helping renters boost their credit scores. Esusu partners with property owners and housing providers like KIMC to create credit-building opportunities for renters.
Residents who pay their rent on-time will automatically have those payments reported to the top three credit bureaus by Esusu, allowing residents to build their credit at no cost.
As part of a larger initiative announced in November 2021, Esusu is working with Freddie Mac to enable KIMC to bring these rent reporting and credit-building capabilities to 19 of its affordable housing communities.
* The information contained herein is for general, informational purposes only and is not intended to constitute an offer to sell or buy any securities or other assets or promise to undertake or solicit business, and may not be relied upon in connection with any offer or sale of securities or other assets.
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