The new proptech platform allows tenants’ rental payments to be linked with their Experian credit report to provide a full rental reporting service.

This can be shared with future landlords and financial institutions, such as mortgage providers and other lenders.

Under the system, tenants will consent to the use of the rent reporting service as a condition of their tenancy agreement with their details imported into the Credit Builder platform.

Every subsequent rental payment would then be reported to Experian.

Henry Yates, founder and CEO of Credit Builder, said: “The groundswell of opinion that tenants’ rental payments should count towards their credit report is beginning to drive real change in the industry.

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“Many renters are understandably keen for this to happen as they view it as good opportunity to enhance their credit score and improve their chances of being approved for a mortgage.

“With this in mind, agents should consider offering a rent reporting service as this is likely to become an important consideration for new and existing tenants, as well as landlords.

“Credit Builder is a truly innovative platform that will ensure that [the founder of The Big Issue] Lord John Bird’s vision for a fairer rental market becomes a reality.

“The system will benefit millions of renters in the UK, while also providing a valuable proposition for agents by enhancing the service they provide to tenants and landlords.”