Rent Reporting Deadline Approaching!
Effective April 1st, California landlords with 16 or more units are required to offer their renters the option to have their positive rental payments reported to a major consumer credit bureau. This offer must be provided in writing and sent via email or first-class mail. AOA offers two easy ways to help you comply.
Option #1 – FREE for AOA Members & Their Residents
AOA members who subscribe to AOA’s low-cost property management software can access a FREE rent reporting service. Plus, residents who opt in before April 1st will receive a $10 Amazon gift card!
How It Works:
✔ Subscribe – Sign up for Property Manager Cloud (AOA’s property management software).
✔ Input Info – Enter resident rent details for automated tracking. AOA’s Fast Track Video Series will help guide you through setup.
✔ Verify – Upload documents to confirm your identity and property ownership (no site inspection required) or use the ID verification tool within your member account (found under User Profile menu).
✔ Opt In for Owners – Consent to the terms and conditions (paperless) from the settings page.
✔ Invite Residents – Use the tenant portal to invite residents to opt in.
✔ Record Rent – Enter monthly rent payments to be reported to TransUnion.
Option #2 – $5 Per Renter Monthly
You pay $5 per month, while you bill your resident on a monthly basis. There is no long-term contract. This is just one of the many AOA membership benefits!
How It Works:
✔ Contact AOA – Email [email protected] to request the “white-glove” version of the Positive Rent Reporting Option form (form #127A) and/or the Full Rent Reporting Option form (form #127B) for Section 8 residents.
✔ Notify Residents – Send Form 127A or Form 127B via email or first-class mail and collect completed forms along with a copy of residents’ state-issued IDs.
✔ Submit Documents – Securely upload collected forms and a rent roll to your AOA membership account or email them to [email protected].
✔ Verify – Confirm ownership by uploading a few documents or use the ID verification tool within your member account (found under User Profile menu). If your AOA Tenant Screening documents are up to date, you can skip this step.
✔ Pay monthly – $5 per unit, regardless of the number of renters in the unit.
✔ Send Monthly Reports – Upload the rent roll or email [email protected] monthly rent reports for each enrolled resident to AOA.
Take advantage of this opportunity to encourage on-time payments, help residents build credit, and stay compliant with AB 2747. Act now to meet the April 1st deadline!