Residential Rental Reporting Guidelines & FAQ

These guidelines are specific to property management companies and third party aggregators reporting residential rental information.

How should an account with multiple tenants be reported?
  • If tenants have separate lease agreements, report each tenant under a different account with a unique Consumer Account Number. Use ECOA Code 1 (Individual) for both accounts.
  • For joint lease agreements with multiple financially liable tenants, report a single account with one unique Consumer Account Number. List one tenant as the main Customer and the others as Joint Customers, checking the Same Address box if applicable. Use ECOA Code 2 for each tenant.
How should regular fees be reported?

Include any utilities, parking, or other fees bundled with rent in the Highest Credit/Original Loan Amount, Scheduled Monthly Payment, and Current Balance fields.

How should one-time fees or security deposits be reported?

Do not include one-time fees or security deposits that may be refunded, partial or full, in any amount fields.

How should vouchers, subsidies, rent credits, concessions be reported?

When a consumer's payment obligation is reduced due to vouchers, subsidies, rent credits, or concessions, the reported amount due/scheduled monthly payment should reflect the adjusted repayment responsibility rather than the total rental unit amount. The Original Loan Amount and Scheduled Monthly Payment Amount should be reduced by the applicable amounts to determine the lessee's expected payment—the difference from the standard market amount.

Example 1:

  • Market rental amount = $1,200 per month for 12 months ($14,400/year)
  • Lessee is given a concession of one month's rent that is prorated over the year.
  • Total lease amount = $13,200 ($14,400 - $1,200)
  • Highest Credit/Original Loan Amount = $1,100
  • Scheduled Monthly Payment Amount = $1,100

Example 2:

  • Market rental amount = $1,200 per month for 12 months ($14,400/year)
  • Lessee is given a concession of one month's rent that occurs in the sixth month.
  • Months 1 through 5: Highest Credit/Original Loan Amount and Scheduled Monthly Payment Amount = $1,200
  • Month 6: Highest Credit/Original Loan Amount and Scheduled Monthly Payment Amount = $0
  • Months 7 through 12: Highest Credit/Original Loan Amount and Scheduled Monthly Payment Amount = $1,200
How should an account be reported when a tenant withholds rent as permitted by local law?

Refer to General Reporting FAQ for available options for reporting an account that has regular payments temporarily postponed.

How should an account be reported when a temporary relief payment plan is negotiated between tenant and lessor?

Refer to General Reporting FAQ for available options for reporting an account that has regular payments temporarily postponed.

How should lease renewals be reported?

When a consumer's lease is renewed, it can be reported in one of three ways. To ensure that the original tradeline continues to be reported as a single account with the original Date Opened use option 1 or 2.

Option 1: When keeping the original Account Number and Date Opened, report amounts based on the renewed agreement. You can update Highest Credit/Original Loan Amount, Terms Frequency, Scheduled Monthly Payment, and Current Balance fields to reflect the new agreement.

Option 2: For accounts where the original Account Number changes and the Date Opened remains the same, follow the above reporting guideline, and use the Change Account Number button in the M2R program to change the Account Number. The new account number will not be permanently changed until after you create your Metro 2® report for the reporting cycle.

Option 3: If the original Account Number and Date Opened change:

  • First - Report the original account as follows:
    • Account Status Code = 13 (Paid)
    • Payment Rating = the appropriate code that identifies whether the account was current or past due prior to the status and within the current month's reporting period
    • Current Balance and Amount Past Due = zero
  • Second - Report the lease renewal account as a new account with all applicable fields making sure the account has:
    • New unique Account Number
    • New Date Opened
    • New lease renewal financial information
How should transferred accounts be reported?

Refer to General Reporting FAQ for reporting guidelines for transferred accounts.

Note: Ownership of the accounts is not affected. For example, accounts are being transferred from one aggregator to another aggregator for processing and credit reporting.

How should Sold/Purchased accounts be reported?

Refer to General Reporting FAQ for reporting guidelines for accounts sold to or purchased by another company.

How should accounts with post-lease outstanding balances be reported?

When a lease is terminated, but has an outstanding balance owed by the consumer, report the following fields as specified:

  • Highest Credit/Original Loan Amount = zero
  • Scheduled Monthly Payment Amount = zero
  • Account Status Code = 11, 71, 78, 80, 82, 83, 84, 93, or 97, as applicable. Note: Even though the lease is terminated, the account should not be reported as paid since there is an outstanding balance.
  • Current Balance = Report the outstanding current balance as of the Date of Account Information, which should include any additional charges on the account; such as damages.
  • Amount Past Due = Report the total amount that is 30 days or more past due.
  • Date Closed = zero fill

Once the account is paid in full, report Account Status Code 13, 62 or 64, as applicable. Also report Current Balance and Amount Past Due as zero and Date Closed as of the date the account was paid in full.

If the outstanding balance is not paid and is charged off, report Account Status Code 97 (Unpaid balance reported as a loss -- charge-off). In subsequent reporting periods, follow General Reporting FAQ guidelines.