Rent and Credit > What is a "Rent Passport"?

What is a "Rent Passport"?

Wollit Team1 minute read · Updated 17th September 2024

A Rent Passport is a digital profile that contains a renter's key information, such as their identity, employment details, credit history, and rental payment history. Think of it as a profile that is meant to simplify the rental application process and help you move into your new homes faster.

How does a Rent Passport work?

You can create a Rent Passport usually through a service like Canopy or Mudhut, which allows you to store and share your information securely with potential landlords or letting agents.

By using a Rent Passport, you can avoid the hassle of always providing the same paperwork for each single rental application.

To create a Rent Passport, you’ll usually need to provide information like:

Personal details (name, date of birth, address);
Where you work and how much you earn;
Bank account information (to verify both your income and your history of rent payments);
Proof of identity;
And your credit history;

Once your information is verified, you will receive a digital Rent Passport that you can share with landlords or letting agents during the application process. The Rent Passport includes a credit score and a reliability rating based on your previous rental payment history, as well as other factors.

Why should I get a Rent Passport?

A Rent Passport comes with three big advantages:

Landlords and letting agents will like the fact that they can now quickly figure out how suitable you are.
You will be able to avoid repeatedly providing the same paperwork for each rental application.
And the whole rental application process will be faster overall.

Can a Rent Passport improve my credit score?

Simply having a Rent Passport does not affect your credit score. However, some Rent Passport services, such as Canopy, can report your rental payments to credit agencies and add them to your credit report.

However, when it comes to building your credit, you still need to work on the most important piece: credit history.

Luckily, now there are many apps that can help you build and improve credit.

One such app is Wollit. Wollit is an app available both on Android and iOS, and it works by reporting a fixed-fee monthly subscription as a loan repayment to all three credit reference agencies. This helps you build your credit history and directly influences your credit score.

On top of this, Wollit can also report your monthly rent payment to Experian. This can add another line in your credit report that shows lenders that you’re reliable and pay your bills on time, helping you make the most of your rent while you prepare to become a homeowner.