The National Rental Home Council (NRHC), a trade association representing the single-family rental (SFR) home industry, and Esusu, a fintech company leveraging rent reporting for credit building, have entered a partnership. Esusu will offer its financial health platform to residents in single-family rental homes owned and operated by NRHC members.
“Esusu and NRHC share an unwavering commitment to preserving economic mobility and fortifying the financial fabric of neighborhoods throughout the nation,” say Samir Goel and Wemimo Abbey, co-founders and co-CEOs of Esusu. “This momentous partnership will empower communities across the country to tap into Esusu’s comprehensive platform for resident financial health. By joining forces with NRHC, we aim to catalyze significant strides toward our vision of bridging the racial wealth gap and paving pathways to prosperity for residents in single-family rental homes.”
By enabling rent reporting through the partnership, both organizations hope to champion financial inclusion and empower renters to build credit histories. Rent reporting provides SFR residents with an opportunity to establish and enhance their credit profiles, granting improved access to credit, mortgages, and other financial services that previously have been out of reach for some renters.
“NRHC is proud to be at the forefront of this transformative partnership with Esusu,” says David Howard, CEO of NRHC. “Together, we are ushering in a new era of financial empowerment for residents of single-family rental homes. By embracing rent reporting, we are laying the foundation for a more inclusive and equitable housing landscape, ensuring that all residents have the opportunity to achieve their financial goals.”
Founded in 2018, Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. The reporting allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions. Alongside credit-building opportunities, the Esusu platform offers renters tools, including financial literacy content, community resources, and rent relief funds to navigate financial emergencies.
With the partnership with the NRHC, Esusu will expand its reach within the SFR industry, addressing a segment of the population that has often been underserved, according to the company.