Riverside CA Landlords and the New Law Requiring You to Report to Credit Bureaus

By Brian Bean | April 4, 2025

Two Single-Family Homes Is Enough — If You Own Them, You Must Offer Rent Reporting

By BRIAN BEAN
Rental Home Advocate | Property Manager | Real Estate Broker

Some Riverside, Moreno Valley, Corona, Inland Empire Rental Property Owners now must report on-time rent payments to credit bureaus.

Starting this month, a new California law gives rental home residents the power to choose whether or not they want their on-time rent payments reported to credit bureaus. Similar to the what homeowners get when they make their mortgage payments.

What does this mean for renters in California?

If you opt in and consistently pay your rent on time, positive credit reporting can help:

  • Build or boost your credit score
  • Strengthen your financial profile
  • And open doors to better loan and rental opportunities

Opting in is totally voluntary — and there’s no penalty if you decide not to participate.

Most of our current residents already have this benefit as part of their Resident Benefits Package. But for those who don’t subscribe to that package, you can now elect the credit reporting a la carte. The service charge is just $3.50 per household, and it covers all adults named on the rental agreement.

Emails went out this week with notices and a link to opt-in. If you did not receive one, check your spam folder, or give us a call at 951-778-9700 and let us know.

What about property investors?

If you own 15 or more residential units in California, or just more than one property, regardless of number of units (yes, just two single-family homes will qualify), you must offer this option to your residents.

Dream Big is handling all of the paperwork, notices and compliance requirements and has the credit-reporting service set up with a trusted partner.

This is a great service for our residents. It helps people build their credit scores, which can lower their costs of big-ticket items and put them on the road to homeownership, which is the sure-fire way for people to build wealth over time.

If you have any questions about this new law or any questions about preparing for homeownership, give us a call at Dream Big Property Mgt. 951-778-9700. Or visit our website, dreambigpm.com.

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Full Transcript

Transcript of the video above — Brian Bean, Broker/Owner and Rental Home Advocate, Dream Big Property Management. CA DRE #01346382. Lightly edited for readability.

Hi, it’s Brian Bean with Dream Big Property Management in Riverside, California. Starting this month, a new California law gives rental home residents the power to choose whether or not they want their on-time rent payments reported to the credit bureaus, similar to what homeowners get when they make their mortgage payments on time.

So, what does this mean for renters in California? Well, if you opt in, your consistently on-time rent payments can build or boost your credit score, strengthen your financial profile, and ultimately open doors to better loan and rental opportunities. Opting in is completely voluntary, and there’s no penalty if you decide not to participate.

Most of our current residents already have this benefit as part of their Resident Benefits Package. But for those who do not subscribe, you can now elect just the credit reporting feature a la carte. That service charge for any household that opts in is just $3.50, but that covers all adults named on the rental agreement.

Emails went out this week with notices and a link to opt in or opt out. If you did not receive one, check your spam folder or give us a call at 951-778-9700. Let us know.

So, how about property investors? How does it affect them? If you own 15 or more residential units in California, or if you have just more than one property, regardless of the number of units, you must offer this option to your residents. Dream Big’s handling all the paperwork, notices, and compliance requirements and has the service set up with a trusted partner.

This is a great service for our residents. It helps people build their credit scores, which can lower their cost of big-ticket items, and it puts them on the road to homeownership, which is the surefire way in this country for people to build wealth over time.

If you have any questions about this new law or any questions about preparing for homeownership, give us a call at Dream Big Property Management, 951-778-9700, or visit our web page, dreambigpm.com. To your success.

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