Business
Zonetail has Signed a Reporting Agreement with Equifax Canada, Enabling Tenants to Build Their Credit Rating When Paying Their Monthly Rent
(TheNewswire) Toronto, Ontario – TheNewswire - January 30, 2024 - Zonetail...
About this update from Zonetail, Inc.
[{"type":"text","content":"Zonetail has Signed a Reporting Agreement with Equifax Canada, Enabling Tenants to Build Their Credit Rating When Paying Their Monthly Rent\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario –\n \n \n TheNewswire -\n \n \n January 30, 2024 - Zonetail Inc. (“Zonetail'' or the\n“Company”) (TSXV:ZONE) (OTC:ZTLLF) is pleased to announce that it\nhas signed a reporting agreement with Equifax Canada, that allows\nproperty management companies to have the ability to submit rent\npayment data to Equifax Canada on behalf of a tenant's request to help\nconsumers build their credit score.\n \n \n \n \n The solution is available to multi-family Property\nManagement Companies (PMCs) and their tenants across Canada. For\ntenants whose PMCs offer the solution, tenants are given the option\nfor a minimal fee to have their payment history shared with Equifax\nCanada. Harmonizing how renters and PMCs can report rent payments to\nbe included in consumers’ credit histories puts the financial\nmainstream within reach for more consumers.\n \n \n \n \n \"We are thrilled to be working with Equifax on\nthis new initiative, as it can significantly help people who otherwise\nmight lack the means of establishing or building their credit\nhistory,” said Mark Holmes, CEO of Zonetail.\n \n \n \n \n “\n \n \n Rent is the single largest\nmonthly expense for many households, yet many responsible renters\ndon't receive credit for on-time payments.\n \n \n Giving consumers the ability to report their monthly rent\npayments\n \n \n has the potential to help responsibly\nexpand consumer access to credit opportunities and support a more\ninclusive economy,”\n \n \n Shawn Maidenberg, Head of\nConsumer Data Strategy, Equifax Canada.\n \n \n \n \n “There is a real need for this in our industry,”\nsaid Ben Scott, Director of Operations for Starlight Investments, one\nof Canada’s largest multi-family Asset Managers. “In fact, we have\nhad recent discussions internally about this exact topic and how we\ncan help our residents establish credit.”\n \n \n \n \n Zonetail will offer this service directly to\nmulti-family Property Management Companies and their tenants, acros...