What you need to be able to track rent:
- A current renting address. You need to be paying rent in order to track rental payments. Please be aware we collect and send data of rent payments only to Experian.
- Pre-existing rent payments on your RentPassport™ verified using open banking. We are unable to implement rent tracking manually. For more information on Open Banking, please click here.
- A signed tenancy agreement. This is in order to validate your payments are for rent.
- A completed RentPassport™.
For RentTracking™ to work effectively the rent needs:
- To be paid regularly. Our system can pick up payments made within +/- 5 days. Anything outside of this will be considered late or missed.
- A similar amount for every payment. If payments are not a regular amount the system will pick them up as rental arrears or missed payments.
- Have a consistent transaction ID. As this is tracked using Open Banking we pick up payments with their reference ID as well as the amount, if this changes on each payment we will not be able to track this as your rent payment.
- Setting up you RentTracking™ in the app works better than a web browser as most people have their phones connected with their banking app. This makes the set up with Open Banking smoother.
- If your bank account is a joint account, unfortunately only 1 of the account holders will be able to connect via Open Banking on their RentPassport™ and use the RentTracking™ service.
- RentTracking™ cannot be back dated nor previous tenancies added to your RentTracking™.