Hey, Mr. Wonderful here and I want to talk about credit scores. Why? Because if you have a bad credit score it’s really expensive. People with bad credit scores have a hard time borrowing money, cause lenders don’t want to take the risk and they charge really high interest rates. So one of the best things you can do is drive up your credit score so you drive down your interest expense. It’s kind of crazy that anyone pays a bill and doesn't get credit for it. So, what I say is pay your bill, report it and lower your interest expense. Well how do you do this? You have your property management company get with Sperlonga. It's a great idea, that’s why I’m doing this shout out for Matt Martin. He’s driving this whole process. Sperlonga helps you reduce your interest expense by making you have a higher credit score. A very good idea. In today's world you want to be the best you can be, particularly when it comes to credit score. Sperlonga can help. Self Storage Payment Reporting | Sperlonga Data

SELF-STORAGE
RENTAL PAYMENT
REPORTING TO
THE CREDIT BUREAUS

Reporting self-storage payments to Credit Bureaus benefits the consumer and the self-storage industry:

  • Helps consumers build credit and increase credit scores

  • Makes the self-storage payment as important as other consumer debt payments

  • Decreases delinquent payments and improves cash flow

  • Negative remarks can last on credit report for up to 7 years

THE SPERLONGA SOLUTION

Sperlonga offers a proactive solution that can help improve the financial health of homeowner associations, rental property owners, timeshares, and self-storage businesses. As a full service data aggregator, our service reduces delinquencies, improves cash flow, positively impacts credit scores, disincentivizes late payments and equalizes the importance of alternative credit and debt payments.
 

Sperlonga’s mission is to aggregate and build the largest and most dynamic non-traditional assessment payment reporting solution. Our goal is to stay consumer focused and contribute toward rewarding consumers who pay their debt obligations on time with positive impacts to their credit scores and disincentivize consumers
from making late payments.


A streamlined approach to improving cash flow and leveraging the reporting of non-traditional payment data

THE SPERLONGA SOLUTION

HOW DO PAYMENTS GET REPORTED and WHAT DOES A NON-TRADITIONAL CREDIT OR DEBT ACCOUNT LOOK LIKE ON A CREDIT REPORT?

A sample of a how a non-traditional account will appear on a credit report:

Each reported account will list both the "Balance Amount" and the "Amount Past Due". 
The "Balance Amount" is the total amount of reportable transactions, such as assessments, rent, late fees and interest on unpaid balances. The "Amount Past Due" is the portion of the "Balance Amount" that is past due as of the time of the report. The following image illustrates this scenario for payments due within 30 days. 

A WIN-WIN FOR NON-TRADITIONAL CREDITORS AND THEIR CUSTOMERS

Benefits for self-storage companies:

  • Stronger penalty for non-payment of storage fees

  • Increase the value of a storage unit project

  • Improve cash flow

  • Provide catalyst to increased credit scores for tenants


Benefits for self-storage customers:

  • Higher credit scores for those who pay timely

  • Build credit faster

  • Lower your interest rate for future loans and credit cards with higher FICO scores

  • Start getting credit for payments that you have been making for years

  • Reduce the likelihood of increases to your payments on non-traditional debt becausemore consumers pay on time

6800 Owensmouth Ave., Suite 135

Canoga Park CA 91303

info@sperlongadata.com  |  818-200-0530 

© 2019 by SPERLONGA DATA & ANALYTICS SYSTEMS LLC

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