Lease Addendum: Getting Consent for Credit Reporting, Tenant Screening, and Debt Recovery

Author
Weiting Bollu
| Published at
December 18, 2024
| Updated on
December 18, 2024
Author
Weiting Bollu
Published at
December 18, 2024
Updated on
December 18, 2024
Disclosure of rental payment history and relevant information to consumer reporting agencies or other authorized third parties for purposes including credit reporting, tenant screening, and debt recovery.

KEY TAKEAWAYS

The following addendum explain exactly what information can be collected and who it can be shared with. The first applies when you're submitting a rental application, while the second covers the entire period of your tenancy and afterwards.

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CLAUSE 1: Consent to Collection and Disclosure of Information Before Lease Commencement

  • The Tenant consents to the Landlord’s use of personal and financial information provided in the rental application to conduct tenant screening, which may include sharing information with consumer reporting agencies or other verification services.
  • The Tenant acknowledges that the Landlord may disclose the Tenant’s information to determine eligibility for tenancy and creditworthiness.

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CLAUSE 2: Consent and Disclosure for Credit Reporting During and After Lease Term

  • The Tenant agrees that the Landlord may report monthly rental payment activity to a consumer reporting agency. This includes whether payments are made on time, late, or missed, and such reporting may affect the Tenant’s credit score positively or negatively based on payment behaviour.
  • The Tenant authorizes the Landlord to disclose necessary information, including but not limited to: payment records, lease compliance, and account details, to consumer reporting agencies or other third parties for the purpose of maintaining accurate records and ensuring compliance with applicable laws.
  • In the event of unpaid rent or outstanding balances after the termination of the lease, the Tenant agrees that the Landlord may disclose relevant account and payment information to consumer reporting agencies, collection agencies, or legal counsel for debt recovery purposes.
  • The Landlord reserves the right to continue reporting outstanding balances to consumer reporting agencies or other third parties until the debt is fully paid or otherwise resolved.

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Affordable Housing
Community
Credit Reporting
Education
Justice
Housing Crisis
Landlord
Law
Ontario
Tenant
Property Management
Procedural Fairness
LTB
Rental Debt
Weiting Bollu
Mom, Rental Housing Provider, Rental Housing Advocate, Educator, and Openroom Co-Founder & CEO

About the Author

Weiting's entrepreneurial journey began with a costly lesson in rental property management, where she experienced losses exceeding $35,000 due to non-paying tenants. Determined to prevent others from facing similar challenges, she built Openroom to pave a future towards a transparent and connected rental ecosystem.

Drawing from her extensive background in software product management spanning education, telecommunications, insurance, and artificial intelligence, Weiting has become a trusted advisor to founders of venture-backed companies. Beyond the tech sphere, Weiting managed properties for over a decade and made significant contributions to community leadership. She’s served on the Board of Rotary District 7070 and chaired various organizational committees.

Weiting balances her professional endeavours with being a parent of two kids under two. Alongside thousands of other parents, she was awarded participation trophies in innovative improvisation, ever-changing expectations management, daily roadmap planning, and hardcore patience!

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https://learn.openroom.ca/post/
rent-reporting-lease-clauses
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