With Esusu, residents who are part of SHIFT and Hanini Group’s portfolios now have the option of having their consistent rental payments reported to the three major credit bureaus – Equifax, Experian, and TransUnion – to build their credit scores. According to Esusu, residents see, on average, a 51-point increase in their credit scores. A record of good credit scores will enable residents to take advantage of benefits not typically afforded to renters: great lending rates, lower security deposits, no cosigner when applying for apartments, and reward incentives on credit cards.
The collaboration also provides the opportunity for rent relief for residents. Through Esusu, residents can access needs-based zero percent interest loans designed to provide rent relief for those experiencing financial hardship. These loans provide renters security and peace of mind knowing they will be able to stay current with their rental payments and maintain their home, while continuing to build their positive credit scores.
The partnership with Esusu continues to build on SHIFT’s and Hanini Group’s collective vision to create opportunity and shared prosperity for all in their housing communities.
“Esusu is a natural partner in our vision to provide access and opportunities for people and communities to reach their full potential. We are making Esusu a standard across our residential portfolios to offer residents credit-building tools and access to emergency rent relief funds,” says Ashton Simmons, SHIFT’s President of Operations. “SHIFT and Hanini Group are creating pathways for residents toward financial wellness and building a better financial future. Esusu is a gamechanger, and we’re happy to help lead the charge.”
“At Hanini Group, we take a resident-first approach to the communities we are helping to create. The more we invest in our residents, the healthier our communities become,” says Samer Hanini, Hanini Group’s co-founder and managing partner. “Our partnership with Esusu helps Hanini Group and SHIFT improve the quality of life for our residents by assisting them in attaining financial stability. Rent is one of the most consistent monthly payments our residents can make, and we believe they should get credit for it. With Esusu, now they can. Building more positive credit scores for more people creates equitable financial access for all, and that’s a huge success.”
SHIFT and Hanini Group will look to expand their Esusu partnership to additional communities as new residences come online.
About the Hanini Group
Hanini Group is an award-winning real estate firm with more than 10 years of experience developing high caliber loft-style residential, retail, commercial and corporate properties. With more than $300 million of development projects under its belt, the firm is especially known for its successful track record in taking historic properties in Newark, New Jersey and rehabilitating them, top to bottom. Many of these buildings, beautifully restored to their former glory, have quickly become landmarks and popular focal points in the city. The firm has expanded beyond Newark and has taken on large, marquee projects in the greater New York City metropolitan area, such as Northern New Jersey and Brooklyn. For more information, please visit: hanini.com.
Esusu is the leading financial technology platform leveraging data to empower renters and improve property performance. The Esusu platform provides rent reporting, rich property management analytics, and rental assistance to unlock financial access and stability for renters and property owners alike. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the United States. Learn more at www.esusurent.com on Facebook @myesusu, and on Twitter @getesusu.