Lamar Station Apartments is piloting a new program, Rent Track, in conjunction with the Colorado Hotel & Financing Authority (CHFA). The program helps build assets for renters who might not have good or strong credit history by counting their on-time rent payments as part of their credit history.
“We currently only offer the program at Lamar Station, but could expand to other properties as the program is a huge success,” said Daniela Dillon, Resident Services Manager. “We’ve seen tenants’ credit scores increase by an average of 51 points and one resident whose credit score rose more than 200 points.”
There are 41 participants in the program. Other Lamar Station residents who may be interested may apply online through RentTrack.com.
MWHS receives a small stipend to be one of the pilot properties for this program which is used to further our residential services through lunch-and-learn classes on financial planning, credit building and more.
CHFA established the program as part of the Rent Reporting for Credit Pilot Program Act and its mission to strengthen Colorado by investing in affordable housing and economic development.