Credit Building Programs

Credit Building Programs

HB21-1134: Report Tenant Payment Information to Credit Agencies

Bill Sponsors

  • Rep. Ricks

  • Sen. Bridges


Rent reporting establishes a basic foundation from which communities of color, lower-income households and residents of rural communities can begin to establish or build credit. HB21- 1134 will establish a statewide pilot program enabling residents residing in properties selected by the Colorado Housing and Finance Authority (CHFA) to opt to have rent payments reported to consumer credit bureaus.


According to the Urban Institute, “Homeownership is currently the largest single source of wealth building.” In Colorado a significant racial gap in homeownership rates exist. In 2018, 68 percent of homeowners were white compared to 37 percent of homes owned by Black households and 52 percent of homes owned by Hispanic households. Everyone in Colorado deserves the opportunity to advance economically. But rental payments currently are not regularly reported to credit agencies and it could have a significant impact on future access to homeownership.

Nationally, the overall mortgage loan denial rates for Black applicants were double those of White applicants – 18 percent versus 9 percent.4 Among Black and Hispanic households, Debt to Income and Credit history were the most prevalent reasons for denial.

According to the Consumer Financial Protection Bureau, Blacks and Hispanics have higher rates of credit invisibility and unscorable credit records than Whites. This credit invisibility is a barrier to financial opportunity that has adverse effects lasting generations.


Reporting rental payments is a way to even the playing field and enable communities of color to generate and build credit without taking on additional debt. Communities of color find it difficult to gain access to credit, especially when it comes to mortgages. Reporting rental payments allows renters to build credit in much the same way as homeowners build credit through the reporting of mortgage payments.

Improving your credit also enables you to get access to less expensive auto loans, cell phone contracts, small business financing and opens doors to future financial security.



  • Colorado Association of REALTORS®

  • Colorado Competitive Council

  • Credit Builders Alliance

  • Denver Metro Chamber

  • Habitat for Humanity of Colorado

  • Loveland Housing Authority

  • Aspire 3D

  • Colorado Association of Homebuilders

  • Metro Mayors