rent reporting for credit pilot ends, final report sent to colorado general assembly

The Rent Reporting for Credit Pilot Program, which CHFA has administered since October 2021, concluded on April 1, 2024. This program, created by the Colorado General Assembly, aimed to help renters build credit by reporting timely rent payments to consumer reporting agencies. The program enrolled 443 tenants across 33 properties throughout Colorado. Tenants participating saw an average credit score increase of 62 points during the pilot period.

Pursuant to statute, CHFA recently submitted the final report summarizing program outcomes to the Colorado General Assembly. In addition, the report highlights recognition earned by the program including its feature by Urban Institute, and receipt of a 2024 Eagle Award from Housing Colorado.