Giving Thanks for the Roof Overhead: How Turning Rent into Credit Is the Financial Gratitude We All Need This Thanksgiving
Thanksgiving has always been my favorite holiday. No gifts, no pressure—just family, food, and a moment to pause and count our blessings. This year, as I prepare to carve the turkey and pass the mashed potatoes, I’m especially grateful for something that didn’t even exist as a widespread reality a few short years ago: the ability for everyday renters to turn their largest monthly expense—rent—into a powerful credit-building asset.
It feels almost poetic. At a time when we’re reflecting on shelter, warmth, and the people who make a house a home, millions of Americans are finally getting credit (literally) for keeping a roof over their heads. And as someone who has spent the last decade helping property managers and residents unlock this potential, I can’t think of a better moment to say thank you.
Thank you to the lawmakers in California who kicked off the wave with AB 2747. Thank you to the advocates in Missouri who are pushing HB 938 across the finish line for 2026. Thank you to the forward-thinking property managers who are already turning compliance into a competitive advantage. And most of all—thank you to the residents who pay on time every single month, often without any recognition, and who now have a real shot at building the financial future they deserve.
The Quiet Financial Struggle No One Talks About at the Thanksgiving Table
Let’s be honest: money conversations around the holiday table are usually limited to “Who’s bringing the wine?” or “Did anyone remember the cranberry sauce?”
But for 44 million renting households in America, the biggest bill of the month—averaging $1,700 or more—has historically been invisible to the credit system. You could pay rent flawlessly for 10 straight years and still walk into a car dealership or mortgage lender with a thin credit file or a score that doesn’t reflect your true responsibility.
That’s changing fast.
In 2025 alone:
- California’s landmark AB 2747 is now fully in force, requiring landlords of 15+ units to offer positive rent reporting (with a $10/month fee cap).
- Missouri’s HB 938 is barreling toward enactment, with similar mandates set to begin in 2026.
- Bills are advancing in Illinois, Maryland, New York, Washington, Oregon, Colorado, New Jersey, and Connecticut—nine states where “offer rent reporting” could become the new normal in the next 12–24 months.
And the results speak for themselves.
Recent data from TransUnion shows that when on-time rent payments are reported:
- 79% of renters see their credit score increase
- The average boost is nearly 60 points (and often much higher for those starting with thin or subprime files)
- Many “credit invisible” consumers become scorable overnight, opening doors to better loans, lower insurance rates, and yes—future homeownership.
That’s not just a statistic. That’s a family who can finally qualify for a mortgage. That’s a young professional who gets approved for their first credit card without a cosigner. That’s real gratitude made tangible.
From Compliance Burden to Revenue & Retention Superpower
I’ll be the first to admit: when California’s AB 2747 passed, a lot of property managers panicked. “Another mandate? More paperwork?”
But here’s what we’ve seen with our partners at Credit Gnomes—and what thousands of managers across the country are discovering:
Rent reporting isn’t a burden. It’s the best resident benefit you can offer in 2026.
- Delinquencies drop 50–73% when residents know their on-time payments are being reported (TransUnion & NMHC data)
- Lease renewals jump up to 40% because residents don’t want to lose their credit-building tradeline
- You can legally bundle reporting into a Resident Benefits Package and add $10–$15 per door per month—without ever raising base rent
- Occupancy and applicant quality improve because “We report your rent to build your credit” is pure marketing gold
One Midwest owner we work with told me last month: “I used to dread November collections—everyone’s tight after Halloween and before bonuses. This year? On-time payments are the highest I’ve ever seen. Residents are literally thanking us for charging them $9.95 a month.”
That’s the kind of win-win that makes me grateful every single day.
A Personal Note of Gratitude
Fifteen years ago, property managers were staring at a stack of late rent notices, wondering why the system punished residents for circumstances beyond their control while ignoring the ones who always paid on time.
Today, as I look at the thousands of doors we now serve – and the hundreds of thousands of credit points our residents have collectively gained – I’m humbled.
So this Thanksgiving, while you’re counting your blessings, consider adding one more to the list: the simple act of paying rent on time is finally starting to count.
If you’re a property manager reading this – thank you for everything you do to keep communities running. Let’s make 2026 the year your portfolio leads the way.
If you’re a resident – thank you for your responsibility and resilience. You deserve credit for it (pun intended).
And if you’re somewhere in between, wondering how to get started before the next wave of laws hits—reach out. We’d love to help turn your rent (or your residents’ rent) into something truly worth giving thanks for.
From all of us at Credit Gnomes, have a safe, warm, and deeply grateful Thanksgiving.
Now, who wants seconds?
Dave Haldi Founder & CEO, Credit Gnomes
P.S. If you’re ready to launch rent reporting before the new year (and get ahead of Missouri HB 938 or the next state bill), book a 15-minute demo here – No sales pressure—just real talk about how to add revenue, cut delinquencies, and make your residents love you.
