Decision details
The Rental Exchange Project (EDR36)
PDF 62 KBDecision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
An initiative known as the Rental Exchange has
been developed by Big Issue Invest (the social investment arm of
the well known Big Issue Group), in association with the credit
referencing agency Experian. The initiative involves Registered
Social Landlords providing tenant rental payment records to
Experian on a monthly basis so that tenants are recognised for
paying rent on time, similar to how homeowners are recognised for
paying their mortgage each month.
Stockport Homes has been approached by Experian to join the Rental
Exchange. This report provides some background to the project and
details the results of some initial ‘proof of concept’
analysis carried out by Experian to demonstrate how Council tenants
would benefit if we were to start sharing their rent payment data
on a regular basis. The report seeks approval from the Council
Executive to participate in the project.
Decision:
The Executive approved a proposal for Stockport Homes to participate in the Rental Exchange project with the Experian Credit Reference Agency. This arrangement would allow Stockport Homes to provide Experian with rental payment records for tenants in order for this to be recognised and potentially to improve their credit rating.
Alternative options considered:
None
Reason Key: Affects 2 or more wards;
Wards Affected: (All Wards);
Equality and/or Environmental Impact Assessment: N/A
Decision Reference: ED1728
Declarations or conflicts of Interest: None
Forward Plan Reference: EDR36
Other reasons / organisations consulted
Stockport Homes
Board
Housing Strategy Board
Adult Social Care
& Housing Scrutiny Committee
Executive Councillor (Economic Development & Regeneration)
Contact: Andy Kippax, Services to Place Email: andy.kippax@stockport.gov.uk Tel: 0161 474 4319.
Report author: Shamim Miah
Publication date: 22/04/2015
Date of decision: 21/04/2015
Decided at meeting: 21/04/2015 - Executive
Effective from: 29/04/2015
Accompanying Documents: