Make sure you have met the RentTracking criteria here before you start tracking rent. This feature is available on all CanopyGrow subscription plans.
Ensure you have selected a subscription plan before setting up RentTracking, we have more information on the different plans in app or here.
Setting up RentTracking
Click the 'CanopyGrow' icon at the bottom of the page. Here you will find the RentTracking tile. Please select this to move on to the next step.
Further information on our RentTracking service can be found here, click on 'Get Started' once you are happy to proceed.
Enter your current rental address. You can use out postcode search to find the full property address.
We can only track the rent of your current address. If you live at multiple properties, make sure it is the address you primarily reside at.
Now we need to know when you moved into the property. Select your move in date and click continue.
Next, you will need to tell us about your rent payments. this includes:
- Your rent amount.
- The payment frequency.
- The payment date.
- Who your rent is paid to?
If you have not already done so, you will need to connect to your bank in order for us to track your future rent payments. Click 'connect bank account' and you will be asked to provide consent for our intermediary, Plaid. This is to retrieve your data in order to share your read-only transactions with us. If you are happy to continue with Open Banking, select 'Continue'.
Please note we will only see the transactions you choose to share and that neither Canopy nor Plaid will gain access to your login details for your bank.
- Search your bank, or select from the list provided. Make sure to select the bank account that you pay your rent out from.
- Click 'Continue' and you will be taken to your online/mobile banking to sign in to your account.
- Once you have signed into your account, your bank will ask you to consent to share your data through Open Banking.
Please note that neither Canopy nor Plaid will be able to view or access your login details. At this stage, you have been redirected to your banking provider, and are entering the login details on their site.
You will be directed back to the Canopy app, where you should click 'Continue' to proceed with verifying your rent payments. The app may take a moment to retrieve and organise your transactions.
You will now be shown a list of your transactions. Please select a rent payment from this list, and you will be shown a list of transactions which we think are your rent payments. If these are correct, click 'Save' and then 'Submit'.
Now you will need to upload proof of tenancy. This should be a tenancy agreement between you and the landlord. To assess whether the document you have is acceptable please see RentTracking verification.
The final step is to review the details you have entered. You are able to edit the sections if you see any incorrect details. If everything is correct click "Confirm and continue".
- It is preferable to use the app rather than the website to set up RentTracking
- If you and your partner pay rent from a joint account only 1 of you will be able to use the RentTracking service
- RentTracking cannot be backdated nor previous tenancies that are added to your RentTracking.
- We will start reporting your rent payments to CRAs after seeing 2 consistent payments.
- It can take up to 6 months for your rent payment to appear on your credit history.
See our frequently asked questions on RentTracking here.
Please sign in to leave a comment.