Rent reporting to Equifax — does it actually help tenants and landlords?

Short answer: yes, especially for tenant retention and screening quality. Longer answer:

**For tenants:**
- On-time rent payments now appear on their credit report, building credit history
- Especially valuable for newcomers to Canada, young adults, and credit-thin profiles
- Studies show rent-reported tenants are ~15-20% more likely to pay on time (the reporting itself becomes an incentive)

**For landlords:**
- Better tenant retention: tenants who are building credit through your unit have a tangible reason to stay current and renew
- Better screening of incoming tenants: applicants with prior rent reporting on their credit file are a more reliable signal than a clean credit report alone
- Defensible record at any future LTB dispute: "the tenant's payment history is reported to Equifax monthly" is hard to dispute

**The mechanics:**
- LandlordEzy's rent reporting is FREE and submits a monthly TXT file directly to Equifax
- Tenants must consent (and can opt in or out at any time)
- Late payments and missed payments are also reported, with the same credit-bureau impact as any other late payment
- The reporting is monthly (Equifax accepts files by the 25th of each month)

**Common landlord concern:** "Does this expose me legally?" — No. You're reporting facts (paid / didn't pay) to a credit bureau the same way every utility company does. The tenant consented. There's no defamation or privacy issue.

Free tier on LandlordEzy. Cheapest way to improve both tenant retention and screening quality at the same time.