Domuso Integration with Resident-Link

23 June 2021

Domuso Integration with Resident-Link Gives Residents a Path to Build Credit From Rent Payments

 

Multifamily operators can now offer credit reporting services to residents directly from within Domuso's advanced digital rent payment processing platform.

 

Domuso, a leading payment platform and financial services provider for multifamily operators, today announced it has partnered with Fraud Protection Network, Inc. (FPN), to offer Resident-Link, a unique resident amenity. This new service integration will give multifamily residents the opportunity to improve their credit standing simply by paying rent on time, with the added security of knowing their identity is being protected.

 

According to the Harvard Joint Center for Housing Studies, over 35 percent of U.S. households rent their homes, yet those monthly payments have no impact on consumer credit scores. A new California law (SB 1157) which takes effect July 1, 2021 will require owners and operators of rental housing developments with more than fifteen units that receive certain types of government assistance to give residents the option to have their rent payments reported to a major credit bureau.

 

Domuso’s integration with Resident-Link offers residents the ability to access their credit and payment information from a single location, with the added benefit of building credit, all while enjoying award-winning fraud and identity protection services. Once enrolled in Resident-Link, the service reports positive rental payment information as a credit tradeline, so every on-time payment helps improve residents’ credit scores, thereby impacting interest rates and buying power.

 

“We’re excited to offer Resident-Link as part of our digital resident experience,” said Michael Lightfoot, co-founder and CEO of Domuso. “Our partnership with FPN streamlines operations and ensures compliance for property managers, while helping residents gain crucial access to financial tools that protect against identity theft, fraud and help to build credit scores.”

 

The increasing incidence of identity theft in the U.S. makes protecting against it more important than ever. All Resident-Link users get access to FPN’s consumer protection, with proprietary, state-of-the-art monitoring and alert systems to notify subscribers when their information is at risk.

 

“We are committed to providing consumer-centric solutions that positively impact people’s lives, and we couldn’t be happier to partner with Domuso to provide residents with access to Resident-Link’s credit building tools via their payment platform,” said Ryan Moore, COO of FPN.

 

The integration gives all Domuso clients the ability to immediately provide Resident-Link to their residents. 

 

About Domuso

Domuso is driving the transformation of rent payments in the multifamily industry with a digital payment and communication platform to manage the entire resident lifecycle, from move-in to move-out. Domuso captures 100 percent of a property’s receivables electronically while giving residents the flexibility to choose multiple payment methods from any mobile device. Domuso removes paper payments from the leasing office by replacing money orders with Online Certified, the industry’s only digital certified payment method. Other Domuso innovations include secure off-site cash payments in partnership with MoneyGram and the ability for residents to pay with a photo of their check using Mobile Check Pay. Four of the top 10 NMHC property management firms use Domuso because it improves financial performance, reduces business risk and streamlines operations. Domuso is privately held and headquartered in the heart of Silicon Beach in Santa Monica, California. For more information, visit https://domuso.com.