Can Renting a Manufactured Home Help Improve Your Credit?

There are lots of excellent reasons why a person would choose to rent a manufactured home instead of buying one. Perhaps they’ve never lived in a manufactured housing community before and want to be sure they like it before committing to buying a home in one. Or they could have a job that requires them to move around every couple of years so owning a home simply isn’t practical for them. They may also have a less-than-perfect credit score or not have a lot of established credit and want to improve their credit score before buying (although many people are able to own a manufactured home even with damaged credit). If you’re looking for a way to improve your credit score, renting a manufactured home is one way to go about it!

It used to be that making home rental payments did nothing to help improve your credit score and could only harm it. This is no longer true, but rent payments having a positive impact on your credit  is a relatively new practice. Experian became the first of the major credit bureaus to start taking a person’s home rental payments into account in December of 2010 through their RentBureau program. TransUnion also includes rent payments in their credit scores. If you have damaged credit, simply paying your rent on time can help improve your credit score and if you don’t have a lot of established credit, paying your rent on time is a great and easy way to build some good credit. However, not all landlords report rent payments to credit bureaus so be sure to ask your landlord if they do or not.

If you’re able to pay your rent online using a credit card, this can also help improve your credit rating. All you have to do is make your rent payments using a credit card and pay off the balance on your card in full and on time each month. Our HomeFirst™ residents have the option of making rent payments online, so this is a very easy and convenient way to take steps toward an improved credit score.

Living in a HomeFirst™ community can help improve your finances in other ways, too. Whether you rent or own a manufactured home in one of our communities, you’ll be able to take advantage of complimentary financial advice from GreenPath Debt Solutions. Whether you’re looking for other ways you can improve your credit score, need help setting up a household budget or learning money management skills, or have any other question about your personal finances, their counselors are ready to help!


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