Are payments with the status of "Paid Late" reported to the Credit Bureaus?
No, late payments made within the calendar month are not reported to the Credit Bureaus as a debt.
Credit Bureaus only record rental payments as paid or a debt.
When reporting rental data:
- The “Paid Late” status is for your internal Recordkeeping in FrontLobby only
- Only debts outstanding for 30+ days are reported as a debt
- Reporting debts never requires consent
- Rental payments made within the month due are not reported as a debt or negatively impact a Tenant’s credit, they are reported as paid in full and require consent
- Debts outstanding at month’s end are indicated by a dollar value under Total Balance and a status of “Owing,” and may be reported