Understanding HB 938: What Missouri’s Rent Reporting Bill Means for Your Rental Business
Rent payment reporting is no longer just a “nice-to-have” perk, especially if you own or manage properties in Missouri.
House Bill 938 (HB 938) is making its way through the state legislature and could soon require landlords to offer residents the option to report on-time rent payments to credit bureaus. This bill mirrors California’s AB 2747 and represents a broader nationwide movement to increase financial inclusion through rent reporting.
If you’re a landlord or property manager in Missouri, this post will break down what you need to know, how it may affect your operations, and why it’s worth getting ahead of the law.
What Is Missouri HB 938?
HB 938 is proposed legislation that would require landlords to give tenants the option to report on-time rent payments to at least one major credit bureau. The goal: help renters build or improve their credit history through payments they’re already making… rent.
The bill recognizes rent as one of the largest monthly expenses for most people and aims to give tenants the same opportunity to build credit as homeowners with mortgages.
Who Needs to Comply?
If passed, the bill would apply to:
- All new leases starting February 1, 2026
- All existing leases by August 28, 2025
Landlords must offer tenants the option to opt in for rent reporting at the time of the lease and once annually thereafter.
There are exemptions. For example, landlords with fewer than 15 units may be exempt, unless they are part of a corporation, REIT, or LLC with corporate membership. Assisted housing developments are also exempt from the requirement.
What the Law Requires Landlords to Do
Under HB 938, landlords and property managers must:
- Offer residents the option to have on-time rent payments reported
- Notify tenants in writing of the reporting option, including all details and any fees
- Keep accurate payment records to ensure clean reporting
- Allow tenants to opt in or out at any time, with a 6-month re-enrollment restriction if they opt out
- Cap any associated fees at $10/month or the actual cost of reporting, whichever is lower
The bill is focused on reporting positive payment information. This means tenants who consistently pay on time may see a credit benefit. Late or missed payments are not part of the required reporting under this law.
What Happens If You Don’t Offer It?
If the bill passes and you don’t comply, you could face legal consequences. But even before then, not offering rent reporting may put your property at a disadvantage.
Rent payment reporting isn’t just about meeting legal requirements. It’s a strategic move that can improve your operations and give you a competitive edge. Landlords and property management companies who fail to implement it may:
- Miss out on increased on-time payment behavior
- See higher rates of turnover
- Struggle to compete with properties that offer credit-building benefits
- Face compliance headaches later down the line
Why Get Ahead of the Law?
California landlords have already adapted to similar requirements under AB 2747, and Missouri appears to be next. Waiting until the last minute to implement rent reporting may put you in a bind, especially if you need time to integrate software, train staff, or update lease language.
By implementing a rent payment reporting solution now, you can:
✅ Prepare early for HB 938 compliance
✅ Start reducing delinquencies through tenant accountability
✅ Offer a credit-boosting amenity that supports resident retention
✅ Stand out to credit-conscious renters in a competitive market
HB 938 is a clear signal that rent reporting is becoming the new standard. Whether or not the bill passes this session, the shift is already happening and forward-thinking landlords and property managers are acting now.
If you want to explore how rent reporting works and how it can benefit your Missouri rental business, reach out to info@sperlongadata.com or book a free consultation here with our team.
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