HARLEM, N.Y., May 19, 2022 (GLOBE NEWSWIRE) — Esusu, the leading financial technology company advancing rent reporting and data solutions for credit building, announced today new data from the company’s two year partnership with Jonathan Rose Companies, a leading developer of affordable residential communities. The new data demonstrates the impact of the partnership between the two mission-driven companies, with 95% of residents seeing positive long-term credit impact.
Esusu and Jonathan Rose Companies launched their partnership over 24 months ago with residents from four Low-Income Housing Tax Credit (LIHTC) properties centered in Harlem, New York, and Stamford, Connecticut. The partnership enabled Jonathan Rose’s Harlem and Stamford residents to have their rental data reported to the three major credit bureaus (Equifax, Experian, and TransUnion) in order to build credit. Jonathan Rose Companies’ residents were also able to access Esusu’s rent relief fund throughout the pandemic enabling dozens of residents to navigate financial shock and stay current with their rental payments.
With the tremendous success of this initial program, Jonathan Rose Companies recently expanded this partnership to include its full portfolio of 80 properties and 12,500+ units across 11 states. To aid their efforts to scale rent-reporting, Jonathan Rose Companies is amongst the first to leverage Freddie Mac’s recently announced rent reporting initiative for multifamily borrowers, which provides benefits for borrowers implementing Esusu’s technology at scale.
“Esusu and Jonathan Rose Companies are both committed to creating equitable communities that unlock opportunity for all,” said Samir Goel and Abbey Wemimo, Co-Founders and Co-CEOs of Esusu. “As a long time pioneer of equitable and sustainable communities for all, they are a natural partner in our vision to unleash the power of data to bridge the racial wealth gap, and the initial numbers from this partnership prove that the work of dismantling the barriers to housing is possible at scale.”
In addition to helping renters establish new credit scores, Esusu and Jonathan Rose Companies saw:
- A 10% reduction in poor credit scores
- A 10% increase in the percentage of residents with excellent credit
- 95% of residents improve their credit scores
- 21 residents receive Rent Relief funding
“Our mission is to develop ‘Communities of Opportunity,’ communities in which every resident has equal access to opportunity, environmental quality, health, and well-being,” said Jonathan F.P. Rose, CEO of Jonathan Rose Companies. “Esusu’s program made a palpable difference in our residents’ opportunity by helping them improve their credit scores. We are eager to expand this offering across our entire portfolio.”
Esusu remains committed to providing property owners, managers, and investors with a turnkey solution to capture and report residents’ rental data to credit bureaus while maximizing net operating income and ESG reporting. For more information about Esusu’s offerings to help people build credit, visit www.EsusuRent.com.
Esusu is the leading financial technology platform that leverages data solutions to empower tenants and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows tenants to build and establish their credit scores while helping property owners increase revenue, lower evictions, and fill vacancies powered by differentiated data and insights. Esusu currently reaches over one million rental units across 43 states in the US. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.
About Jonathan Rose Companies LLC
Jonathan Rose Companies is one of the country’s leading developers and investors in sustainable, affordable, and mixed-income multifamily real estate, with more than 18,000 units owned or managed. Founded in 1989, Jonathan Rose Companies is a mission-driven company focused on enhancing the health and wellness of its residents with green, energy efficient property improvements and through its Communities of Opportunities programming. With offices in New York, Connecticut, Colorado, Ohio and California, Jonathan Rose Companies has developed or acquired more than $3.4 billion of real estate. For more information, visit www.rosecompanies.com.