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What if two or more residents split rent?
What if two or more residents split rent?
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Written by Team Boom
Updated over a week ago

Yes, all residents on the lease are eligible for BoomReport as long as there is a formal lease agreement and they are on the lease.

A formal lease agreement can be a lease, sublease, roommate agreement, or other legal document that shows the tenant name, monthly rent amount, lease start / end date, rental address, and landlord information.

All users are required to enroll with their own BoomReport account.

All residents need to link a bank account which they use to pay their rent (even if it's to a roommate). The credit bureaus require each renter to have a formal lease agreement in order to use BoomReport.

For example:

  • Chris lives in a 2-bedroom apartment with John. They are both on the lease agreement. Their combined rent payment is $2,000, but they choose to split the payment 50/50 so each pays $1,000 per month.

  • John and Chris can each sign-up for BoomReport since they each pay $1,000 in rent per month.

  • Even if John pays Chris $1,000 via Venmo and Chris pays their combined $2,000 rent payment via rental portal, that is acceptable and our system will recognize each rent payment.

A formal lease agreement can be a lease, sublease, roommate agreement, or other legal document that shows the tenant name, monthly rent amount, lease start / end date, rental address, and landlord information.

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