Some rent reporting products have portfolio size minimums and property management software requirements. Be sure that you meet those requirements before pursuing that option! 

This depends on how you choose to report. If you report directly to the bureaus, you must ensure that you are able to comply with the Fair Credit Reporting Act. If you go through a third party, they may handle compliance for you. 

There is a cost to most rent reporting options. While most affordable housing providers choose to pay for the service on behalf of their residents, some reporting options have revenue cost share structures through which housing provider can pass on or split the cost with residents. In addition, some companies may be more willing to negotiate pricing then others. Regardless, be sure that the cost is sustainable for your agency, and if you are passing on some of the cost to residents, consider whether this will be a barrier to their participation.

Having rental tradelines show up on the traditional credit reports from all three of the major credit bureaus has the highest impact for renters, but even reporting to one bureau can be beneficial. 

Landlord administered options may require the resident to opt in or out of rent reporting, but likely the resident will not need to do anything else to participate. Consult with your residents to explore what they might be most comfortable with.  

Some companies report both positive and negative payments and others just report positive payments. 

Most of the third-party servicer companies have features to complement their rent reporting service. Some of the features may be resident facing such as credit education, score monitoring, or identity theft protection, while other features are geared towards property managers such as impact dashboards. These can be helpful for engaging residents and providing added tools and information to staff.