Today we launched Cozy Credit Reports - a huge step toward fundamentally changing how credit data is purchased, controlled and used.
Renters are empowered for the first time.
Security, privacy and control
With Cozy Credit Reports, you never have to share your Social Security Number or Tax ID Number with a potential landlord again. You pay for your report. You get the results. You share the results. You control who sees your report, and who doesn't.
The end of application fees
The application fee is a ridiculous concept, and it’s high time we squash it. If a Cozy landlord ever requires your credit report as part of the application, you’ll simply pay for and obtain your own report, then you can choose to share the results. If a potential landlord doesn’t require a credit report, there’s nothing to pay.
Landlords, say goodbye to the burden of handling and storing sensitive tenant information.
The most common thing we hear from landlords regarding tenant screening is, “I dread handling and storing someone else’s private information.” And that’s the good, honest landlords - there are cases of identity theft in the news nearly every day.
Cozy Credit Reports alleviate the burden of handling sensitive data. The report comes securely and directly from Experian in real time, so you can rest easy that you’re getting the most accurate data in the industry. We take care of the rest.
It's that simple. It's integrated. It's part of your Cozy subscription.
Cozy + Experian: making the world better.
Since day 1, we’ve been hyper-focused on fundamentally improving the landlord-tenant relationship. Before today, that relationship started with a renter handing a potential landlord a paper application with everything needed for identity theft, plus a pointless application fee that the landlord could use for whatever purpose they chose. In competitive markets renters often go through the process three or four or even a dozen times before they land a place to live. (We know one renter in NYC who spent $3400 on application fees alone!) Those days are gone, and we’re excited to be the company changing how the industry and the process works.
We approached Experian 20 months ago with our idea to completely rethink how the tenant credit report process should work. With our design leadership, they have been an amazing and supportive development partner. The empowerment and security we’ve given renters and landlords with Cozy Credit Reports is just the beginning of a massive set of change.
Together, we have not only created this first version of Cozy Credit Reports, but Experian has also released the API that we created together. It's available to anyone - including Cozy competitors.
We’re in this to change how the world works, and are excited to see innovative ways that other companies use what we’ve created with Experian. It’s a huge market, so let’s make it better together.
If you’re a landlord, you can sign up for Cozy right here. You can also learn more about what to look for in a tenant credit report in this Landlordology article.
If you’re a renter, you should invite your landlord to use Cozy!