Understanding the
Rent Reporting Law:
AB 2747
Rent reporting laws are changing quickly. Ensure you're up-to-date, prepared, and compliant with help from Foxen.
What is AB 2747?
California Assembly Bill 2747 (AB 2747) is a California bill that was signed into law on 9/19/24. The bill requires property owners and operators to offer their residents the option of having positive rental payment information reported to at least one nationwide consumer reporting agency (“CRA”).
Who is Affected?
AB 2747 will only apply to California property owners and operators with 15+ units.
Other states may pass similar regulatory laws in the future. Start preparing with Foxen Rentistry >
What are the Requirements?
All Roommates Must be Included
All residents on the lease must receive the option to have their rental payment information reported to a CRA.
Reporting Must be Optional
It must be clearly explained to the resident that rental reporting to a CRA is optional.
Clearly State the Name of the CRA
The resident must be informed which CRAs will receive the rental payment reports.
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Opt-in at Anytime
Residents are required to have the option to opt-in at any time throughout their lease.
Six Month Reporting Bar
If a resident opts out of rent reporting, they cannot opt back in for at least 6 months from the requested opt-out.
No Markups on Rent Reporting Service Fees
The rent reporting service fee to residents must not exceed the lesser of 1) The actual cost to the landlord to provide the service or 2) $10 per month.
When Does AB 2747 Go Into Effect?
or After April 1, 2025
of January 1, 2025
April 1, 2025
Requirements after Initial Lease
See rent reporting options with Foxen >
Implications of Not Complying
Costly Legal Disputes
Noncompliance could open the door to tenant lawsuits, resulting in expensive settlements, damages, and attorney fees.
Regulatory Scrutiny
By offering a compliant rent reporting solution, you could sidestep potential scrutiny from regulatory agencies.
Tenant Turnover
According to a TransUnion study, 61% of renters said they are more likely to rent from someone that reports rent payments.
Less Incentive for On-Time Rent Payments
In the same study, 83% of renters said they are more likely to pay their rent on time when payments are reported.
Rent Reporting Best Practices
Make it Easy for Residents
Offer residents frictionless enrollment and unenrollment plus the ability to check their credit scores at any time.
Automate
Reporting
Find a solution that manages rent reporting charges and invoices with credit bureau integrations and automation.
Consolidate and Integrate
Ensure efficiency, accuracy, and cost savings with a solution that integrates with your PMS and provides value outside of just rent reporting.
No Admin for Your Team
Prevent enrollment monitoring and administration from falling on your lap with a solution that absorbs rent reporting logistics.
Go Beyond Basics
Give residents reporting for the last 24 months and get a roll up of the impact rent reporting has had on credit scores across your portfolio.
Report to All 3 Bureaus
Provide the most value to your residents with a solution that reports rental payments to all three credit bureaus.
Foxen Rentistry
The Most Flexible Rent Reporting Solution on the Market.
Differentiate your properties and incentivize on-time rent payments with Foxen Rentistry, a powerful solution that reports rent payments to all three major credit bureaus, integrates with your PMS, and manages all program logistics and administration.
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Have questions? We have the answers.
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