We are working with Experian as part of The Rental Exchange Scheme. The Rental Exchange is a way for you to strengthen your credit history by having your rent payments reflected in your credit report.
This scheme means we will share details about your rent payments with Experian every month. Your rent payments are then included in your credit report. This means:
- If you pay the correct amount of rent regularly and on time it could have a positive impact on your credit report.
- If you do not pay the correct amount of rent, regularly and on time, it could have a negative impact on your credit report.
Having a good credit history can help you access a range of goods and services and can sometimes mean you are offered better deals on things like mobile phones, TV and broadband packages or home contents or car insurance. Reputable companies will normally use your formal credit history to assess your creditworthiness before making a lending decision.
To understand more on how we use your information please see our Privacy Notice Section.
Important things to know about the scheme
To opt out of The Rental Exchange scheme
If you do not want your data to be shared with Experian as part of The Rental Exchange scheme you can opt out by:
- emailing us at email@example.com
- telephone 0303 123 890
- or write to us at Customer Services, The Guinness Partnership, Bower House, 1 Stable Street, Oldham OL9 7LH
Please ensure you provide your full name and address.
How your data will be handled
Experian could use the information we supply to them to assist other landlords and organisations to:
- assess and manage any new tenancy agreements you may enter into;
- assess your financial standing to provide you with suitable products and services;
- manage any accounts that you may already hold, for example reviewing suitable products or adjusting your product considering your current circumstances;
- contact you in relation to any accounts you may have and recovering debts that you may owe;
- verifying your identity, age and address, to help other organisations make decisions about the services they offer;
- help to prevent crime, fraud and money laundering;
- screen marketing offers to make sure they are appropriate to your circumstances;
- for Experian to undertake statistical analysis, analytics and profiling,
- and for Experian to conduct system and product testing and database processing activities, such as data loading, data matching and data linkage.
If you would like to see more information on these, and to understand how the credit reference agencies each use and share rental data as bureau data (including the legitimate interests each pursues) this information is provided in this link: www.experian.co.uk/crain (Credit Reference Agency Information Notice (CRAIN)). (For a paper copy, please get in touch with Experian).
We will continue to exchange information about you with Experian while you have a relationship with us (unless you opt out at any time). We will also inform Experian if you end your tenancy with us – if you have outstanding rental arrears at this point, Experian will record this outstanding debt.
Experian will hold your rental data for the set time limits outlined in CRAIN (www.experian.co.uk/crain). Rental data falls into the Identifiers (eg. your name, address, date of birth) and Financial Account categories (eg. rental payment information).
We will work with Experian to ensure that your information is treated in accordance with UK data protection law, so it will be kept secure and confidential and your information will not be used for prospect marketing purposes.
Other useful information
If you would like advice on how to improve your credit history you can access independent and impartial advice from www.moneyadviceservice.org.uk. You can get a copy of your Statutory Credit Report by visiting www.experian.co.uk/consumer/statutory-report.
If you are unhappy with anything relating to The Rental Exchange, please contact us. If you are unhappy with the way your information has been handled by us within The Rental Exchange scheme you can also contact our Data Protection Officer at firstname.lastname@example.org
For further information on how we handle your personal information please see our privacy notice.