Jonathan Rose Companies is “a leading developer of affordable residential communities.” In May 2022, the company announced that, because of its two-year rent reporting partnership with Esusu, 95% of the tenants in the program saw a “positive long-term credit impact.”
Esusu and Jonathan Rose Companies launched their partnership…with residents from four Low-Income Housing Tax Credit (LIHTC) properties centered in Harlem, New York, and Stamford, Connecticut. The partnership enabled Jonathan Rose’s Harlem and Stamford residents to have their rental data reported to the three major credit bureaus (Equifax, Experian, and TransUnion) in order to build credit. Jonathan Rose Companies’ residents also had access to rent relief funds throughout the pandemic enabling dozens of residents to navigate financial shock and stay current with their rental payments.
In addition to helping renters establish new credit scores, Esusu and Jonathan Rose Companies saw a 10% reduction in poor credit scores; a 10% increase in the percentage of residents with excellent credit; and 95% of residents improve their credit scores.
Success is contagious. “Jonathan Rose Companies recently expanded this partnership to include its full portfolio of 80 properties and 12,500+ units across 11 states. To aid their efforts to scale rent-reporting, Jonathan Rose Companies is amongst the first to leverage Freddie Mac’s recently announced rent reporting initiative for multifamily borrowers, which provides benefits for borrowers implementing Esusu’s technology at scale.”
Esusu and Jonathan Rose Companies Partnership Leads to 95% of Residents Improving Their Credit Scores, Financial IT, May 20, 2022.
Eric J. Ellman is Senior Vice President for Public Policy and Legal Affairs at the Consumer Data Industry Association (CDIA) in Washington, DC. He also served for eight months as Interim President and CEO of the Association. More