Rental Exchange is a scheme that allows tenants’ rent payment information to be shared securely with Experian, helping to build a credit history through regular, on-time payments.
While this can benefit some tenants, it’s important to understand that if your rent account falls into arrears, this could have a negative impact on your credit score.
That’s why it’s essential you’re aware of the scheme and can make an informed choice about whether it’s right for you.
Your choice matters
Taking part in Rental Exchange is completely optional. You can choose to opt out at any time if you don’t want your rental payment information to be shared.
We want to make sure all tenants — both new and existing — are aware of their right to opt out and can review their decision based on their individual circumstances.
Things to consider
Rental Exchange may help improve your credit score if your rent is paid on time and in full. However, if you are worried about keeping up with payments or are already in arrears, you may want to consider whether remaining in the scheme is the best option for you.
If you’re struggling with your rent, please get in touch. Our team can offer support and advice to help you manage your payments.
How to opt out
If you decide that Rental Exchange isn’t right for you, you can opt out quickly and easily.
Full details, including how to remove your data from the scheme, are available from our Rent team if you need support or have any questions.
