Positive Rent Payment Reporting Advisory
AAOC is reminding its rental housing provider members that the deadline to comply with California’s AB 2747 Positive Rent Payment Reporting law is Tuesday, April 1, 2025.
Rental housing providers are now required to provide their tenants with the opportunity to pay for (at the tenant’s expense) positive reporting of their on-time rent payments to credit agencies. Details about the law were detailed last November in Apartment News Magazine’s “Sacramento Report” (pg. 8).
Rental housing providers must provide their tenants by Tuesday, April 1, 2025:
- A notice that positive rent payment reporting service is available
- That positive reporting is at their expense
- Information about the reporting service being utilized
AAOC has a new lease addendum available that will help you comply with this new legal obligation. To download the addendum, CLICK HERE.
EXEMPTIONS
This does not apply to either of the following:
- A landlord of a residential rental building that contains 15 or fewer dwelling units, unless both of the following apply:
- The landlord owns more than one residential rental building, regardless of the number of units in each building.
- The landlord is one of the following:
- A real estate investment trust, as defined in Section 856 of Title 26 of the United States Code.
- A corporation.
- A limited liability company in which at least one member is a corporation.
- An assisted housing development, as defined in Section 65863.10 of the Government Code.
LEASE ADDENDUM NOW AVAILABLE
AAOC has a new lease addendum available that will help you comply with this new legal obligation. To download the addendum, CLICK HERE.
Additionally, AAOC has begun evaluating positive rent payment reporting providers and compiling a list in order to help members identify providers that may fit their specific needs.
Please note, AAOC has not fully vetted these providers and has not endorsed the providers or their services. This list is simply a resource for members as they research their options based on our preliminary conversations with the providers.
If you have questions about AB 2747 compliance, contact an AAOC team member at (714) 245-9500 or info@aaoc.com.