{"id":15966,"date":"2018-03-14T15:28:15","date_gmt":"2018-03-14T15:28:15","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=15966"},"modified":"2018-06-29T11:02:15","modified_gmt":"2018-06-29T11:02:15","slug":"what-is-rentscore","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/what-is-rentscore\/","title":{"rendered":"What is RentScore?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n[vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">For years now, rental payments have been consistently unrecognised when it comes to someone\u2019s credit score, despite the fact that, on average, tenants spend <\/span><a href=\"http:\/\/www.bbc.co.uk\/news\/business-42179119\"><span style=\"font-weight: 400;\">27% of their monthly salary on rent<\/span><\/a><span style=\"font-weight: 400;\">. It seems bizarre that such a high regular expenditure does not affect a person&#8217;s credit rating. <\/span><\/p>\n<p><a href=\"http:\/\/www.bbc.co.uk\/news\/business-42179119\"><img loading=\"lazy\" class=\"aligncenter wp-image-15967 size-large\" title=\"Earning Vs Rent\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-600x414.png\" alt=\"\" width=\"600\" height=\"414\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-600x414.png 600w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-260x180.png 260w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-100x69.png 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-150x104.png 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-200x138.png 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-300x207.png 300w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent-450x311.png 450w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/bbc-income-spent-on-rent.png 624w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-15968 size-full\" title=\"What factors should count towards a person's credit score\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore.png\" alt=\"\" width=\"314\" height=\"273\" srcset=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore.png 314w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore-237x206.png 237w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore-100x87.png 100w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore-150x130.png 150w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore-200x174.png 200w, https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/rentscore-300x261.png 300w\" sizes=\"(max-width: 314px) 100vw, 314px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">A recent YouGov survey, undertaken by <\/span><a href=\"https:\/\/www.thehouseshop.com\/\"><span style=\"font-weight: 400;\">TheHouseShop.com<\/span><\/a><span style=\"font-weight: 400;\">, revealed that almost three quarters (72%) of Brits support rent recognition in credit scores. And why shouldn\u2019t they?! Rental payments, as we have already established, are often a large portion of a person&#8217;s monthly income and approximately <\/span><a href=\"http:\/\/www.experian.co.uk\/consumer\/questions\/askjames370.html\"><span style=\"font-weight: 400;\">98% of tenants<\/span><\/a><span style=\"font-weight: 400;\"> pay this large expenditure on time. So the fact that these payments are not recognised in any way is rather <\/span><span style=\"font-weight: 400;\">out-of-step<span style=\"font-weight: 400;\"><\/span>, especially in a society where almost <\/span><a href=\"https:\/\/www.theguardian.com\/money\/2017\/jun\/12\/one-in-four-households-in-britain-will-rent-privately-by-end-of-2021-says-report\"><span style=\"font-weight: 400;\">1 in 4 houses are privately renting<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<h3 style=\"text-align: center;\"><a href=\"http:\/\/www.propertyreporter.co.uk\/landlords\/could-adding-rent-payments-to-credit-scores-help-tenants-become-future-buyers.html\"><i><span style=\"font-weight: 400;\">\u201cMany tenants have been paying rent on time for years, if not decades. The fact that this does not carry the same weight as a mortgage payment is hard to believe\u201d<\/span><\/i><\/a><\/h3>\n<p><span style=\"font-weight: 400;\">So what is being done to help level the financial playing field between mortgage-holders and renters? <\/span><\/p>\n<h2><b>Let me introduce, <\/b><a href=\"https:\/\/www.thehouseshop.com\/rentscore\"><b>RentScore<\/b><\/a><\/h2>\n<p><span style=\"font-weight: 400;\">RentScore is the first service that allows DIY landlords the chance to offer rent recognition to their tenants. It is essentially a rent collection scheme with a twist. So it does your usual rent collection for as little as \u00a314.99 a month, organising a direct debit with your tenants and getting payment processed on the same day. But there is the middle-man, <\/span><a href=\"https:\/\/www.experian.co.uk\/\"><span style=\"font-weight: 400;\">Experian<\/span><\/a><span style=\"font-weight: 400;\">, who registers the tenant\u2019s rental payment date and records it on their credit score. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">RentScore makes rent a number 1 priority for tenants. With the possibility that they can increase their credit score, Rent Score acts as a motivator, providing an incentive for tenants to consistently <a href=\"https:\/\/www.thehouseshop.com\/rent-on-time\" title=\"pay their rent\">pay their rent<\/a> on time. <\/span><\/p>\n<p><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/why-is-a-good-credit-score-so-important\/15869\/\"><span style=\"font-weight: 400;\">A good credit score is so important<\/span><\/a><span style=\"font-weight: 400;\"> in our current society. While it has many applications, a credit score, most importantly, is a major factor towards whether a lender will accept a mortgage application. The fantastic thing about RentScore is that it gives tenants the opportunity to enhance their credit report and ultimately improve their access to financial products and services, such as mortgages. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">RentScore acts as a leg-up the property ladder, but <\/span><i><span style=\"font-weight: 400;\">you <\/span><\/i><span style=\"font-weight: 400;\">need to provide the legs. If you do not respond to the motivation and regularly miss or make late payments then these will also be recorded on your credit file, resulting in a low credit score. A low credit score can lead to possible rejections of mortgage applications and even <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/dont-let-a-poor-credit-rating-prevent-you-from-renting\/2804\/\"><span style=\"font-weight: 400;\">rejected tenancies<\/span><\/a><span style=\"font-weight: 400;\"> as many <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/can-landlords-do-credit-checks\/11370\/\"><span style=\"font-weight: 400;\">landlords complete credit checks<\/span><\/a><span style=\"font-weight: 400;\"> now before renting. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">RentScore, therefore, acts as an <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/rentscore-whats-in-it-for-me\/15958\/\"><span style=\"font-weight: 400;\">incentive for tenants<\/span><\/a><span style=\"font-weight: 400;\"> who can gain from an increased credit rating if they consistently pay their rent on time. Subsequently, landlords can take a step back and relax as they feel confident in Rent Score and its ability to achieve on-time rent payments which are 100% hassle-free.<\/span><\/p>\n<h2><b>How much does it cost?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">From as little as \u00a314.99 per property, per month, RentScore completely takes over your monthly rent collection, removing all possible stress and optimising on-time rental payments. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The fee is automatically deducted from your rental income each month so you don\u2019t even need to worry about paying the fee! RentScore takes care of everything, it really is hassle-free.<\/span><\/p>\n<h2><b>How does it work?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">What is great about RentScore, is its simplicity. All you have to do is fill out a simple online application form and let RentScore do the rest. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">They contact your tenants directly and organise all future payments with them. They chase tenants in those cases where tenants have missed dates and have accumulated arrears. RentScore keeps you up-to-date with everything, whilst taking care of it all for you.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All you have to do is sit back and wait for your consistent rental income. <\/span><\/p>\n<h2><b>Is it safe?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">RentScore is 100% safe and secure. All payments are processed through a bank-grade encrypted and secure service, which ensures that your details and money are 100% safe. Payments made by tenants are immediately stored in a ringfenced client account; an account which is completely separate from Rent Score, so if, touch wood, anything were to happen to the company, your payments and money are always protected. RentScore adheres to all current data protection laws and goes above and beyond to make sure that all details and finances are safe and sound.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Like I said, hassle-free!<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-weight: 400;\">Any questions? Call them!<\/span><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u00a0Their lines are open Monday &#8211; Friday 9 am- 5:30 pm on 0800 048 8910<\/span><\/p>\n[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_btn title=&#8221;Become a Super Landlord now&#8221; color=&#8221;danger&#8221; size=&#8221;lg&#8221; align=&#8221;center&#8221; link=&#8221;url:https%3A%2F%2Fwww.thehouseshop.com%2Frentscore||target:%20_blank|&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_tweetmeme type=&#8221;follow&#8221; follow_user=&#8221;@RentScoreUK&#8221; large_button=&#8221;true&#8221;][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_facebook][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]\n<h4><i><span style=\"font-weight: 400;\">Related Articles:<\/span><\/i><\/h4>\n<h4><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/rentscore-whats-in-it-for-me\/15958\/\"><i><span style=\"font-weight: 400;\">RentScore, What\u2019s In It For Me?<\/span><\/i><\/a><\/h4>\n<h4><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/how-to-be-a-diy-landlord\/15789\/\"><i><span style=\"font-weight: 400;\">How to be a DIY Landlord<\/span><\/i><\/a><\/h4>\n<h4><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/why-you-should-check-your-credit-score-before-you-move-home\/12531\/\"><i><span style=\"font-weight: 400;\">Why You Should Check Your Credit Score Before You Move Home<\/span><\/i><\/a><\/h4>\n<h4><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/can-landlords-do-credit-checks\/11370\/\"><i><span style=\"font-weight: 400;\">Can Landlords do Credit Checks?<\/span><\/i><\/a><\/h4>\n[\/vc_column_text][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]For years now, rental payments have been consistently unrecognised when it comes to someone\u2019s credit score, despite the fact that, on average, tenants spend 27% of their monthly salary on rent. It seems bizarre that such a high regular expenditure<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/what-is-rentscore\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":15821,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[1,581,10,16,9,646],"tags":[650,640,638,547,51,204,30,274,649,652,47,462],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/03\/RentScore-Email@2x-1-1.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/what_is_rentscore_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15966"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=15966"}],"version-history":[{"count":12,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15966\/revisions"}],"predecessor-version":[{"id":17359,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/15966\/revisions\/17359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/15821"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=15966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=15966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=15966"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=15966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}