The Openroom Rental Debt Ledger
It’s time to hold people accountable when they don’t pay the lawful rent owing.
Get startedHow does the Rental Debt Ledger work?
A one time payment of $88 per court order that helps you:
Track Interest
Every cent counts when you are owed rental debt. Let us worry about the math.
Report to Equifax
On the 15th of every month, we send the entire outstanding amount to Equifax.
Record Payments
When tenants pay back rent, record it into the ledger to stay on up to date.
See Transactions
Monitor the ledger transactions, dates, and amounts to follow along.
$135M+ Non-Payment of Rent, per Openroom
Based on the Landlord and Tenant Board Orders inside Openroom today, there is an outstanding $135 Million of unpaid rent.$16,000 average loss, growing by 27% year over year
If a landlord ends up with a tenant who does not pay rent, it is an average loss of $16,000. Since 2021, this grew 27% year of year.$35K in rental arrears and 7 LTB orders later
I was 30 weeks pregnant, I went to the Tribunal Hearings and finally got the order to evict. It was a near 2 year dispute that was mentally exhausting.Looping in Equifax
My team asked Equifax how we can get the non-payment of rent onto a tenant's file so it can negatively impact their score and credit history.Beta Testing Phase
Hundreds of housing providers tested with us to help us ensure our experience reflects what we all need in the rental ecosystem.The birth of Rental Debt Ledger
You are now experiencing over a year's work of testing with Equifax and the Openroom community. Are you ready?
The situation
Step 1: Create an Openroom account
Signing up takes less than 1 minute
You'll be able to come back at any time to see the progress of your Rental Debt Ledger application.
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Step 2: Tell us about the rental debt
You gather the documents
You share information with Openroom so we can verify the authenticity of who you are, the rental agreement, the court order, and the amounts owing. After that, we'll do a review.
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Step 3: We'll do a review
We check the authenticity of documents within 48 hours
Our Nika Bot does a first pass of the information you've supplied to us. The Tenant only receives a notification email once we have verified this is a legitimate rental debt application.
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Step 4: You follow the progress
Review each transaction
We'll show you exactly how we arrived at the balance amount across the arrears, interest, and payments.
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Record the payments
Hitting someone's credit score is serious and it better be accurate. You'll need to let us know when payments are made.
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Step 5: How it looks
When Openroom hits the Equifax credit report for unpaid rent, 5 distinct attributes are shown.
- It's under the COLLECTIONS section.
- It says OPENROOM.CA RENTDEBT.
- It says the Landlord's name.
- It says the amount owing.
- It indicates it is UNPAID.
Try the Rental Debt Ledger
Get started for $88 one time fee.
No surprises, we promise.
Still Unsure? Chat with the Co-Founders
Frequently Asked Questions (FAQ)
You pay a one-time fee of $88.00 CAD + HST per Rental Debt Ledger application you choose to file with Openroom. If you have more than 3 to do, you can reach out to us at hello@openroom.ca and we will provide a bulk discount to you.
Only court orders issued from the Ontario Landlord & Tenant Board issued on or after January 1st 2019. Court orders must contain rental debt due to unpaid rent or damages. If you would like us to expand coverage, please email hello@openroom.ca with province and document type that you would like to see supported.
You can still use Openroom to accurate track and report your rental debt owing. However, you should notify the other services that you no longer wish to use their services because it's best practice to only choose one service to do reporting with.
Yes you can! Tenants owe rent until they vacate the rental unit either by handing you the keys are with the help of sheriff. Openroom will help you keep track of the total rent owed along with the interest and report it to Equifax after you have received vacant possession.
Yes. As long as you have an Ontario Landlord and Tenant Board (LTB) order that states the tenant party owes you for a set amount of money, you can use the Rental Debt Ledger. This means it does not need to be only for the monthly rent owing to you.
There is an option for you to enter in amounts paid by the tenants who owe you the rental debt. To learn more about how to do this, you can view our Help Center Article on: How to record a payment.
It can take anywhere from 2 weeks to 6 months for it to show up on a report. The entire process is not a transparent process as we’d like it to be with credit bureaus. After 6 months of using the Openroom Rental Debt Ledger, you will have an option to work with our official Openroom Partners to pull a credit score report on the respective tenants. To learn more about how to do this, you can view our Help Center Article on: How to verify on the Equifax report.
Our partnership with Equifax is all of Canada. However, right now we are only accepting Ontario court records. Not to worry, the Openroom Rental Debt Ledger and associated partners is in the works for other Provinces.
There are occassions your tenants will disagree with the amount calculated by the rental debt ledger. In these cases, Tenants have the opportunity to dispute. The disputes must come with evidence or they will be rejected. All disputes are looked at within 3 business days of submission. We reach out to the Filer/Landlord if a dispute warrants a pause on the rental debt reporting to Equifax. To learn more about how to do this, you can view our Help Center Article on: How to dispute a rental debt record inside Openroom.
In August 2023, Openroom has signed an official agreement with Equifax to work with them as a Data Furnisher partner. Throughout 2023-2024, we have completed several tests to ensure that the data we are providing to Equifax is factual, verified, and complete to the best of our abilities. To learn more about this, you can view our Help Center Article on: Openroom & Equifax Partnership.
No. Openroom does not touch or take any of the rental debt money you are owed. We only facilitate the outstanding balance calculations and record transfer to Equifax. If a tenant wants to pay back their rent, they will need to connect with you to make arrangements to pay back. To learn more about this, you can view our Help Center Article on: How to use the rental debt ledger or you can view our Help Center Article on: how to pay back rental debt I owe to the landlord.