Be proactive..
Category Professional Services
ComProp is proud to be associated with Tenant Profile Network (TPN) a registered credit bureau and the most comprehensive and up-to-date data authority on tenant behaviour in South Africa. Please take time to review the following important information.
How it works…
TPN compiles information on tenant behaviour patterns and shares consumer credit information with the two leading international consumer credit bureaux, Experian and TransUnion, who maintain comprehensive data bases on the credibility of both juristic and individual parties. ComProp updates TPN on the payment records of all our tenants twice a month and this information is added to the credit bureaux data bases. More importantly this means that TPN compiles data on both adverse and positive tenant credit information.
· By paying your rental on or before the first day of each month you have the excellent opportunity of establishing a positive credit profile that will increase your ability to access credit in the market place.
Should you pay late…
· Late or non-payment of rental will adversely affect your credit record and this information will be available to all credit providers, including financial institutions, cell phone companies, shops and property rental companies who are obliged to perform credit checks on clients applying for credit.
· Non-payment of rent will result in an adverse credit record for yourself and/or your business. You will also be charged interest and administration fees and run the risk of being “black-listed” on the TPN data base which then feeds through to Experian and TransUnion, thereby significantly restricting your access to credit facilities.
This information has been brought to your attention as ComProp has a professional responsibility to both owners and tenants in working towards and encouraging an open, honest and trustworthy relationship with our clients.
Author: ComProp Ballito
