BUSINESS: Esusu, And Related Affordable Expand Partnership To Bolster Residents’ Financial Well-Being Nationwide

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The Partnership will Scale Esusu’s Innovative Rent Reporting Platform across the Entire Related Affordable Portfolio

November 24, 2021 16: 22 ET | Source: Esusu Financial Inc.

NEW YORK, Nov. 24, 2021 (GLOBE NEWSWIRE) — Esusu, the pioneering fintech company, today announced an expansion to their partnership with Related Affordable, one of the largest private developers, financiers and preservationists of affordable and workforce housing in the country, to implement rent reporting for credit building to benefit all Related Affordable residents. This partnership empowers residents in over 50,000 units to have their on-time rent payments reported to the three major credit bureaus to build their credit at no cost to them.

Related Affordable has been working closely with Esusu for over a year, and the collaboration continues to yield significant results. Esusu’s financial resiliency platform has enabled 71% of enrolled Related Affordable residents to boost their credit scores by 32 points (on average). For Related Affordable residents without a credit score, Esusu has already helped 2,300 enrolled renters establish credit scores and financial identities. Related Affordable has taken advantage of Freddie Mac’s recent rent reporting initiative for multifamily borrowers. This includes a preferential cost structure to implement Esusu’s technology.

“Over the past year, we have seen what Esusu’s rent reporting platform can do for Related Affordable residents to help improve their financial health,” said Jeffrey I. Brodsky, Vice Chairman of Related Companies. “We are thrilled to further our partnership with this forward-thinking company to better serve all Related Affordable residents.”

“We are deeply proud to partner with Related Affordable, an innovative leader transforming the housing landscape in the United States, to create more opportunities for renters,” said Esusu Co-Founders, Abbey Wemimo, and Samir Goel. “With less than 10% of renters in the United States seeing their rent captured in their credit scores, our partnership is critical to scaling rent reporting to millions of people nationwide and dismantling systemic barriers to credit and housing.”

Esusu continues to deploy win-win solutions for landlords and renters nationwide providing a system that uses rental data to empower renters and improve property performance nationwide. Esusu’s technology ensures that renters are only charged for their rent on time to improve credit scores, financial aid access, and stability.

About Esusu:
Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu’s rent-reporting platform records rental payments and reports them to credit bureaus for credit score improvement. This helps renters build their credit score and protects property owners from being evicted. Founded in 2018, Esusu reaches over two million rental units across all 50 states in the United States. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.

About Related Companies:
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 45 years ago, Related is the largest private owner of affordable housing and a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing, and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately 4,000 professionals. With over $60 billion in assets owned or under development including the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, Rosemary Square in West Palm Beach, The Grand and Related Santa Clara in California and The 78 in Chicago. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World. For more information about Related, please visit www.related.com.

Press Contacts:

Related Companies
Kayla Parker
Communications@related.com

Esusu
Chanel Cathey
Chanel@cjcinsights.com

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