Comparing rent reporting solutions? Zego is a great company for payments, but when it comes to rent reporting, Boom allows for more customization, higher adoption rates, and a better resident experience.
Boom is the first end-to-end software platform for property managers of any size to report rent payments to all three bureaus—Experian, Equifax, and TransUnion.
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Despite being a well-known player in rent reporting, Esusu over promises and under delivers on usability, data accuracy, and tri-bureau reporting.
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Zego offers a limited rent reporting solution via LevelCredit that under delivers on tri-bureau reporting, customizability, and usability.
Boom is the first end-to-end software platform for property managers of any size to report rent payments to all three bureaus—Experian, Equifax, and TransUnion.
Reporting to all three credit bureaus is important, and Boom, a furnisher to Experian, Equifax and TransUnion for years, delivers on this point. Zego only reports to two bureaus.
Property managers using Boom can offer rent reporting to residents as a lease requirement, as a part of their Resident Benefits Package, or as an add-on amenity. Whichever way they choose, property managers are in the driver’s seat to decide if they want to pass on the cost to residents and how much they want to charge.
Boom has the broadest and deepest integration coverage with property management systems. Once integrated, payment and verification workflows can be further simplified with automations—no manual spreadsheet uploads involved!
Boom’s Partner Platform gives property managers visibility into enrolled renters and ability to verify payments seamlessly. Boom’s Reporting Dashboard measures key impact metrics, like residents’ credit score changes, in real time.
Property managers using Boom can create a program that requires all residents to enroll (100% adoption), requires residents to opt out of rent reporting (~80% adoption), or allows residents to opt in (~10% adoption). Zego only offers the last—and least utilized—option.
When you select this option in Rent Manager, you are enabling an affiliate link to rent reporting (via LevelCredit) that residents must opt in to. As a result, property managers using Zego see less than a 10% adoption rate and have little to no visibility or control once implemented. With Boom, property managers can see an 80-100% rent reporting adoption rate and have full visibility into renter enrollments, reporting statuses, and their revenue generation.
LevelCredit is a third party rent reporting service that Zego uses, but they were recently acquired by another rent reporting service. We know—it’s confusing. With Boom, one company manages rent reporting, credit disputes, and customer service (for property managers and residents).
“Boom's rent reporting has been a great addition to our offering at Burgan. And the engagement and responsiveness has been A+, from initial onboarding to ongoing support. It's clear that the Boom team is really invested in making sure this is successful for us. Strongly recommend Boom!”
Owner @ Burgan Real Estate
“Reporting rent payments with Boom’s partner portal is so fast and simple! It takes less than 5 minutes of my time each month, and APS is able to help improve credit outcomes with all 3 credit bureaus for our residents. This service will continue to be a core amenity for our residents.”
Administrative Assistant @ Advanced Property Systems
We get it! We’ve made the process of switching rent reporting services seamless—all we need is the current rent roll and the contact at the previous furnisher. That’s it, the process takes less than two weeks and Boom will handle everything including:
Resident communications regarding the switch
Switching the furnisher of record with the credit bureaus
Coordination with the prior furnisher
The Boom team is here to help you every step of the way.
