Toronto, Ontario – TheNewswire - January 30, 2024 - Zonetail Inc. (“Zonetail'' or the “Company”) (TSXV:ZONE) (OTC:ZTLLF) is pleased to announce that it has signed a reporting agreement with Equifax Canada, that allows property management companies to have the ability to submit rent payment data to Equifax Canada on behalf of a tenant's request to help consumers build their credit score.
The solution is available to multi-family Property Management Companies (PMCs) and their tenants across Canada. For tenants whose PMCs offer the solution, tenants are given the option for a minimal fee to have their payment history shared with Equifax Canada. Harmonizing how renters and PMCs can report rent payments to be included in consumers’ credit histories puts the financial mainstream within reach for more consumers.
"We are thrilled to be working with Equifax on this new initiative, as it can significantly help people who otherwise might lack the means of establishing or building their credit history,” said Mark Holmes, CEO of Zonetail.
“Rent is the single largest monthly expense for many households, yet many responsible renters don't receive credit for on-time payments. Giving consumers the ability to report their monthly rent payments has the potential to help responsibly expand consumer access to credit opportunities and support a more inclusive economy,” Shawn Maidenberg, Head of Consumer Data Strategy, Equifax Canada.
“There is a real need for this in our industry,” said Ben Scott, Director of Operations for Starlight Investments, one of Canada’s largest multi-family Asset Managers. “In fact, we have had recent discussions internally about this exact topic and how we can help our residents establish credit.”
Zonetail will offer this service directly to multi-family Property Management Companies and their tenants, across Canada and the U.S.
Zonetail Inc. (TSXV: ZONE) (OTCQB: ZTLLF) is a mobile platform and market network. Our Mission is to provide a state-of-the-art mobile platform that enables high-rise residents to better manage their homes by connecting people to products, amenities, and services. Our Vision is to build a critical mass of users in the hard-to-reach, high rise residential vertical, through a unique mobile market network model - providing vital information, products, and services at the tap of a screen. We are the search engine to optimize your home. Zonetail is partnered with Yardi, Shiftsuite and now MRI Software which together account for an estimated 50 million households across North America.
Please visit: https://www.zonetail.com.