Pensam and Esusu Partnership Puts Over 14,000 Residents on the Path to Financial Success

With a tech-forward approach to multihousing initiatives, new partnership brings innovative perspective to the sector

Pensam, one of the country’s largest private real estate investors and capital providers in the multihousing sector, today announced a new partnership with Esusu, the leading financial technology company leveraging rental data for credit building. The partnership will make Esusu’s rent reporting platform available to over 14,000 residents across cities nationwide, expand Pensam’s social impact initiatives, and promote tech-forward paths to financial success for residents of all property types.

Esusu reports on-time rent payments to the three major credit bureaus (Equifax, Experian, and TransUnion) to establish and boost credit scores for residents. The program, which launched in August 2022, has been rolled out at no cost to residents across all 34 Pensam-owned properties being managed by BH Management.

Where property amenities usually take the form of fitness classes, health information, or social engagement, Pensam will also provide a differentiated and technologically-focused offering, enhancing the quality of life for residents across its Class A and affordable housing properties. In addition to establishing credit scores for those without a strong credit profile, renters who have established good credit already will be able to use monthly rental payments to maintain that strong foundation, encouraging improvement across asset classes.

Esusu improves financial wellbeing for residents and helps properties maximize net operating income (NOI). Using Esusu’s platform, Pensamunlocked the opportunity for residents to apply for Esusu’s 0% interest rent relief program in times of hardship, preventing eviction and keeping cash flows healthy. Additionally, Pensamnow has access to quarterly impact data optimized for ESG (Environmental, Social and Governance) reports containing tangible ‘S’ metrics that demonstrate an improved quality of life and financial opportunity for residents, as well as property efficiency and performance. This solution provides strong motivation for property owners to utilize these methods at scale and influence a wider asset portfolio across multiple owners.

“At Pensam, we are constantly on the lookout for partners that offer unique solutions that are sustainable, scalable and show real results,” said Hen Shoval, Director of Investments at Pensam. “Through this partnership, we have been able to expand the ways we extend our property value and performance and hope we have provided a model to other property managers to pursue similar measures within their own portfolios.”

The partnership also helps residents establish a financial identity and build a better financial future. The platform automatically reports on 12 months of rental payment data, allowing residents to immediately establish or see improvements to their credit scores. This partnership will allow Pensam to prioritize stability in credit and financial wellbeing for its residents at a time of rising inflation costs, as well as assist residents to maintain and improve credit scores to achieve the best loan rates.

“Esusu and Pensam are both committed to creative solutions rooted in the core needs of residents across the country,” said Samir Goel and Wemimo Abbey, Co-Founders and Co-CEOs of Esusu. “This partnership is designed to find and advance financial solutions for both renters and property owners, and Pensam’s willingness to take a trailblazing approach and work with us to dismantle barriers to financial wellness at scale made them a natural partner in our overall mission to bridge the racial wealth gap.”

About Pensam

Pensam is one of the country’s largest private real estate investors and capital providers specializing in the vibrant U.S. multihousing sector. Pensam has invested in over 48,000 units spanning across 170 communities and 28 states, both in primary and secondary markets. As an integrated firm, the company is also uniquely positioned to leverage the synergies of its three service lines – equity, debt and development.

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 captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the U.S. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.