Capital Square, a national sponsor of tax-advantaged real estate investments and an active developer of mixed-use multifamily communities, has partnered with Esusu, a financial technology company advancing rent reporting and data solutions for credit building. As a result of the partnership, Capital Square will empower its residents to improve their credit scores through rent reporting and provide the opportunity to apply for 0% interest rent relief funds when families encounter financial hardship that impacts their ability to meet contractual rent obligations.
“This is a powerful expansion of Capital Square’s rent reporting and relief program for thousands of multifamily residents and expansion of our commitment to ESG,” said Louis Rogers, founder and chief executive officer of Capital Square. “It is a win-win that benefits residents while improving the stability and occupancy of multifamily communities.”
Capital Square currently manages a multifamily portfolio totaling approximately 12,000 units across 47 properties in nine states. The multifamily portfolio has averaged 96% occupancy and 99% rent collection during 2022 as of May 30, 2022. Capital Square also is an active developer of multifamily communities throughout the Southeast, with eight communities totaling 1,520 apartment units currently under development.
“Adoption of the Esusu platform clearly underscores Capital Square’s partnership with thousands of residents,” said Whitson Huffman, chief strategy and investment officer. “It will strengthen residents’ ability to improve their financial health and long-term wealth accumulation, while strengthening the financial underpinnings of Capital Square’s multifamily portfolio.”
Capital Square is enabling Esusu’s rent reporting platform at no cost to its multifamily residents. Residents will have their rent payment history reported to the three major credit reporting companies, Experian, Equifax and Transunion. Esusu’s service only reports on-time rent payments, helping residents establish and improve their credit scores and long-term ability to generate wealth. For renters who encounter temporary financial challenges, the platform provides the opportunity to apply for 0% interest rent relief loans that help residents meet their rent obligations and avoid eviction.
