WASHINGTON — Starting this spring, Nest DC residents will notice a new financial service tacked onto their rent: a $10 monthly credit reporting program through Boom. While the company says it’s all about helping tenants build better credit, the automatic enrollment has raised questions from some renters.
“We care about your credit—even if you move!” That’s Nest DC’s message as it rolls out the new service.
The new service means beginning April 1, all residents will be automatically enrolled in Boom’s on-time rent credit reporting. The service reports your monthly payments to all three major credit bureaus—Experian, TransUnion, and Equifax—to help renters build credit in the same way mortgage-holders do…