Frequently Asked Questions
Answers to our most common questions
LCB is an independent, neutral, third party reporting agency (also known as a Credit Bureau) that is working to improve the lives of landlords, property managers and tenants. We maintain a database of rental records and offer a variety of services.
For the benefit and protection of our landlord, property manager and tenant members, LCB has automated protections in place to ensure that usage is compliant with relevant legislation, that the data provided is accurate, and that all users identifications are verified before they use the platform.
There are also several dispute resolution processes available should there be any concerns.
Landlord Credit Bureau empowers landlords to reward their responsible tenants, motivate on-time payment habits and introduce consequences for delinquencies. Through LCB, landlords have the same capabilities as other credit grantors have always had with the major credit bureaus.
Increase ROI – LCB helps landlords prevent and stop delinquencies such as late payments, bad debts, and damages by impacting credit reports and creating permanent records of tenancy. On average landlords see a 36% reduction in delinquencies.
Reward Tenants – LCB enables landlords to reward tenants who pay rent on-time and are responsible. Finally tenants can use their rent payments to build credit and create a positive tenant record they can use to receive priority when next applying to rent.
Reduce Risk – By using LCB, landlords significantly reduce the occurrence and risk of unpaid rent, damages and other delinquencies for only the cost of a coffee per lease per year. Tenants will know their behaviour is being recorded, shared and can now impact their credit report. If a tenant chooses to not pay their rent on-time, they will find it more difficult to obtain housing and credit in the future.
LCB puts a spotlight on responsible and delinquent behaviour. This particularly enables small landlords, who provide the majority of rental housing, to avoid the serious financial damages delinquent tenants cause and to continue providing housing for responsible tenants.
Responsible tenants benefit from being able to use their rent payments to improve their credit report and built a positive, verified tenant record they can use to receive priority when next applying to rent.
LCB puts a spotlight on responsible and delinquent behaviour. This particularly enables small landlords, who provide the majority of rental housing, to avoid the serious financial damages delinquent tenants cause and to continue providing more housing for responsible tenants.
Yes, while these are not necessary for using LCB, we strongly recommend adding them to your Application and Lease Agreements.
LCB is designed to be managed in less than 10 minutes per month.
Both current and former tenancies may be quickly added. When tenants pay on time, the landlord is not required to take any action. If a payment is missed, a landlord simply logs in and records the amount owing.
In addition to tenant reporting LCB offers several optional features including various notifications and reporting to other credit bureaus (i.e. Equifax).
Yes, LCB networks landlords and property managers. When considering a new candidate, you can search our Tenant Records to view ID verified records which include payment history and reviews from previous Landlords along with their contact information.
LCB is free to sign up and use. No credit card required. Many of the services are free with optional paid features available.
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