Innago provides the ability for your tenants to boost their credit score by reporting their rental payments to the three major credit bureaus. For more detailed information on the tenant credit reporting feature and how tenants can sign up, click here.
Your tenant is the one who ultimately turns off/on their credit reporting feature, but there are cases in which you can negatively impact your tenants credit score if….
1. A tenant pays you directly, outside of Innago, and you fail to record their invoice as paid.
a. If a tenant pays you offline and you don’t record this invoice as paid within 30 days of the due date, the invoice will be considered unpaid and we would report a late payment. This could negatively impact your tenant’s credit score, until you update their invoice with the payment details and an on-time payment submission date.
2. A tenant has moved-out or you’ve decided to no longer use Innago, but you have not terminated their lease in Innago, and have not removed their outstanding invoices.
a. If your tenant is no longer responsible for making payments, or you’re no longer using Innago to collect payments, it is pertinent that you terminate their lease and remove any outstanding invoices. This is especially the case if the tenant is on a Month-to-Month lease term, where invoices will continuously generate each month. After 30 days of being “overdue” in Innago, these invoices will be reported as late.
b. If a tenant has a payment reported as late that they should not have been responsible for, we can update their reports. You would just need to contact our Support Team at 513-964-0172, or Support@Innago.com to submit your request. Tenants would not be able to make this request, since we’d need your confirmation that they did not truly owe the amount that was reported as late.