Interested in offering rent reporting to your residents? Boom is a pioneer for streamlined, tri-bureau reporting with better revenue margins, more configurability, and faster implementation than CredHub.
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.
VS
Despite being a well-known player in rent reporting, Esusu over promises and under delivers on usability, data accuracy, and tri-bureau reporting.
VS
CredHub's rent reporting solution offers a less than ideal user experience for property manager and renters, while in return, charges more per renter per month.
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.
CredHub’s pricing is $2-$8 per renter, per month. Boom’s pricing will always be on the lowest end of the range, and likely less than $2, depending on portfolio scale.
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!
With CredHub, you will only be able to make your rent reporting program mandatory. In contrast, Boom is configurable to easily allow residents to opt-in or opt-out, enabling you to more clearly position rent reporting as a resident amenity.
CredHub’s implementation can take up to two months, 4-5x longer than Boom’s onboarding. One of the main reasons Boom is able to offer a streamlined implementation experience is our credentialing process. The Boom team will manage all bureau communications, property managers will go through credentialing once and get verified within days.
Residents can track their credit score progress for free via the Boom app. Additionally, the app offers a number of other resources such as monthly reporting statuses and rental assistance navigation.
On average, Boom users that pay rent on time see a 28 point increase to their credit score in 2 weeks–a real impact that makes rent truly rewarding. Property managers can track their residents’ credit score changes via Boom’s real-time Impact Reporting Dashboard.
With customizable subscription options—required vs. optional—you can customize your rent reporting solution to fit your goals: deterring delinquencies, upgrading your resident benefits package, supporting ESG initiatives, and/or increasing ancillary revenue.
Yes, however, by charging $2-$8 per renter, per month, your monthly margins with CredHub are significantly less than with Boom. At most, Boom only charges $2 per renter, per month—a price that can decrease based on portfolio scale. Therefore, as your portfolio grows, so does your revenue share.
“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.
