MIAMI, FLORIDA – Pensam, one of the country’s largest private real estate investors and capital providers in the multihousing sector, announced a new partnership with Esusu, the leading financial technology company leveraging rental data for credit building. The partnership will make Esusu’s rent reporting platform available to over 14,000 residents across cities nationwide, expand Pensam’s social impact initiatives, and promote tech-forward paths to financial success for residents of all property types.
Esusu reports on-time rent payments to the three major credit bureaus (Equifax, Experian, and TransUnion) to establish and boost credit scores for residents. The program, which launched in August 2022, has been rolled out at no cost to residents across all 34 Pensam-owned properties being managed by BH Management.
Where property amenities usually take the form of fitness classes, health information, or social engagement, Pensam will also provide a differentiated and technologically-focused offering, enhancing the quality of life for residents across its Class A and affordable housing properties. In addition to establishing credit scores for those without a strong credit profile, renters who have established good credit already will be able to use monthly rental payments to maintain that strong foundation, encouraging improvement across asset classes.
Esusu improves financial wellbeing for residents and helps properties maximize net operating income (NOI). Using Esusu’s platform, Pensam unlocked the opportunity for residents to apply for Esusu’s 0% interest rent relief program in times of hardship, preventing eviction and keeping cash flows healthy. Additionally, Pensam now has access to quarterly impact data optimized for ESG (Environmental, Social and Governance) reports containing tangible ‘S’ metrics that demonstrate an improved quality of life and financial opportunity for residents, as well as property efficiency and performance. This solution provides strong motivation for property owners to utilize these methods at scale and influence a wider asset portfolio across multiple owners.
“At Pensam, we are constantly on the lookout for partners that offer unique solutions that are sustainable, scalable and show real results,” said Hen Shoval, Director of Investments at Pensam. “Through this partnership, we have been able to expand the ways we extend our property value and performance and hope we have provided a model to other property managers to pursue similar measures within their own portfolios.”
The partnership also helps residents establish a financial identity and build a better financial future. The platform automatically reports on 12 months of rental payment data, allowing residents to immediately establish or see improvements to their credit scores. This partnership will allow Pensam to prioritize stability in credit and financial wellbeing for its residents at a time of rising inflation costs, as well as assist residents to maintain and improve credit scores to achieve the best loan rates.
“Esusu and Pensam are both committed to creative solutions rooted in the core needs of residents across the country,” said Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. “This partnership is designed to find and advance financial solutions for both renters and property owners, and Pensam’s willingness to take a trailblazing approach and work with us to dismantle barriers to financial wellness at scale made them a natural partner in our overall mission to bridge the racial wealth gap.”
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