Ah, I see.

You REALLY need a lease to not be a type of credit, and hence not be within the scope of a credit reporting agency? Or included in a credit score?

Though, notably, not like anyone necessarily needs to care if it fits the nominal term on their sign if they want to take on new business right? (though various regulations can of course come into play in some cases)

Hell, a ton of their revenue now seems to come straight from 'credit monitoring' services which are only thinly veiled scams near as I can tell.

The issue I have with the argument you're making, is that as you yourself note - investment risk is fundamentally the umbrella under which credit risk lives. And that is the same umbrella that landlord/tenant risk lives under. And in fact, the risk that a landlord takes on with a tenant is SO CLOSE to the risk that someone takes on with lending someone money, that it's an ALMOST artificial distinction.

Near as I can tell mostly due to historical reasons.

Renting existed long before standardized currency (and hence the ability to loan someone currency). And since having a roof over ones head is rather fundamental to being able to survive at all in most places, the power dynamic is prone to abuse in many concrete ways unique to property.

But, for example, leasing a car is 100% tracked by credit reporting agencies on a credit report. And the difference between leasing a car and leasing a house is... the car can move? and isn't generally a primary residence for anyone. and is cheaper.

So actually aren't renters being screwed here, because paying their rent on time could actually help them build a better credit score by showing they CAN do credit-like activities on time - without having to go into 'debt'?

In fact, wouldn't it actually HELP renters move to owning (by having lower costs to borrow on their mortgage), if they could build a better credit score by renting? And it seems like companies have picked up on that, which is why they're offering it for a fee.

One of the biggest complaints I've heard from folks (and felt myself) for instance, is that paying an equivalent amount in rent does nothing to qualify oneself for paying a similar mortgage. But if reported on credit and included in credit score, it would.

So if you really don't want the credit agencies to be reporting on it, I guess the question is - why?

Too much centralization in an already too powerful set of entities?

Too much transparency in an area prone to really screw some people who have a hard time behaving? After all, the downside would be someone who can't pay their rent would also have a hard time getting a mortgage, but that generally already happens.

Too much absolutism/numericalism for something that "shouldn't be"?

Think they're a bunch of assholes who need to die?

I can see some reasons why you'd object, I'm just not buying the reason you're using on it's face. It's like saying home depot can't sell furniture because they're a 'home improvement' store, and furniture doesn't improve the home itself, but just the experience of living in it. And that no one would benefit from buying furniture there.

And besides that there are other places who specialize in selling furniture.

Which okay maybe?
But perhaps you just hate Home Depot?
Or maybe you own a furniture store?

I can certainly empathize if that is the case! I don't know though.

Unfortunately, they do provide a lot of value in specific situations which others are unable to do, which is why they continue to do pretty well. Lame.

It also isn't clear that them also just selling furniture and 'eating' all the local furniture stores like almost everything else they have done is anything anyone is going to work hard to stop, and maybe Home Depot is good enough.