Borrowell vs. KOHO: Which Rent Reporting Tool is Better?
Compare Borrowell Rent Advantage vs. KOHO Rent Reporting. See which tool offers better value, cash back rewards, and ease of use for Canadian renters.
For most Canadians, rent is their single biggest monthly expense. Yet, for decades, paying rent on time did absolutely nothing for your credit score. Miss a payment? Your landlord might report you. Pay on time for 5 years? Crickets.
Fortunately, fintech companies like Borrowell and KOHO have changed the game. Both allow you to report your rent payments to credit bureaus, turning your biggest expense into your biggest credit builder.
Start building your credit history today with a $65 value bonus. Use code C4MNILZARC. Claim your credit builder bonus →
But which one is better? Let’s compare Borrowell Rent Advantage vs. KOHO Rent Reporting.
At a Glance: The Comparison
| Feature | Borrowell Rent Advantage | KOHO Rent Reporting |
|---|---|---|
| Cost | ~$8/month (Subscription) | Included in Extra/Everything plans (or add-on) |
| Bureau Reported To | Equifax | Equifax |
| Landlord Involvement | None required | None required |
| Cash Back? | No | Yes (up to 0.25%) |
| Payment Method | Connects to bank account | Pay via KOHO app (E-transfer/PAD) |
The Major Difference: Cash Back on Rent
This is where KOHO takes a massive lead.
Borrowell is strictly a reporting service. You pay them a fee, and they report your rent. It is a one-way street.
KOHO turns rent into a rewarding transaction. If you are on the right plan, you can earn Cash Back on your rent payments.
- Example: If your rent is $2,000/month.
- KOHO Reward: 0.25% cash back = $5.00/month.
- Result: The cash back can effectively subsidize or even cover the cost of the subscription!
With KOHO, you are essentially getting “paid to live,” whereas with Borrowell, you are paying for a service.
Landlord Independence
Both services shine here. In the past, rent reporting required your landlord to sign up for a platform (which most landlords were too lazy to do).
Both Borrowell and KOHO allow you to verify your rent payments yourself—usually by scanning your bank transactions or setting up the payment through their platform. Your landlord doesn’t need to lift a finger, and they don’t even need to know you are doing it.
Which One Should You Choose?
Choose Borrowell If:
- You already use Borrowell for credit monitoring and just want a simple add-on.
- You don’t want to switch your banking or payment method.
Choose KOHO If:
- You want to earn money. The cash back feature is a game-changer.
- You want an all-in-one solution. KOHO handles the payment and the reporting.
- You are already using KOHO for credit building or spending.
The Verdict
While Borrowell offers a solid product, KOHO offers superior value due to the Cash Back on Rent feature. Why pay to report your rent when you could get paid to do it?
Learn more about building credit in our guides on How to Build Credit with a Prepaid Card and Cash Back on Rent in Canada.
💰 Start Earning Cash Back on Rent
Turn your biggest expense into rewards. Use KOHO referral code C4MNILZARC to get up to $65 in sign up bonus value.
Claim Your KOHO Referral Code →
