Affirm and Esusu Test Buy Now, Pay Later Option for U.S. Rent Payments

Financial technology firm Affirm is preparing to let certain U.S. tenants divide their monthly rent into two bi-weekly, interest-free installments under a new pilot program developed with housing-focused fintech company Esusu.

The initiative, announced by both companies, extends the fast-growing buy now, pay later (BNPL) model to one of the largest household expenses in the country. While neither firm disclosed an exact launch date, the product is expected to become available to qualified renters who already maintain an Esusu membership and reside in properties participating in Esusu’s network.

How the pilot will work

According to Affirm, eligible users will be able to apply through the Esusu platform for the option to split their rent into two equal payments every month. The arrangement carries 0% interest, no late fees and relies on Affirm’s customary underwriting process, which assesses each applicant individually and approves only the amounts the company believes the borrower can repay.

Esusu, best known for its rent-reporting services that help tenants build credit files with major bureaus, currently offers three membership tiers:

• Standard membership at $10 per month, which focuses primarily on credit-reporting features.
• Plus membership at $35 per month.
• Premium membership at $50 per month.

The Plus and Premium plans, available only to residents of Esusu-partnered properties, already include a split-pay tool that lets members break up rent across the month after an initial down payment. The new collaboration with Affirm will give those subscribers an additional BNPL alternative that requires no upfront charge beyond the first half-month installment.

Rising rental costs provide the backdrop

Affirm and Esusu are introducing the program at a time when housing affordability remains strained. Average rents nationwide rose about 3% year over year in December 2025, Bureau of Labor Statistics data show. Separately, the U.S. Census Bureau’s 2023 American Community Survey found that nearly half of all renters spent more than 30% of their income on housing, exceeding the threshold widely regarded as the limit for staying financially balanced.

The companies frame the new BNPL feature as a cash-flow management tool that can align large, fixed obligations with workers’ pay cycles. “Providing a flexible option for managing one of their largest monthly expenses” is how an Affirm spokesperson described the concept in statements shared with multiple outlets.

Expert concerns about borrowing for fixed expenses

Despite the potential convenience, several financial planners caution that BNPL may not be well suited for recurring, non-discretionary costs. Certified financial planner Chris Jackson of South Carolina notes that the structure could help in a genuine emergency but warns against relying on credit to meet routine rent obligations. “Borrowing to cover rent does not address the underlying affordability issue,” he said.

Douglas Boneparth, a New York-based CFP and member of CNBC’s Financial Advisor Council, echoes that sentiment. Boneparth argues that installment plans sometimes encourage overspending and can lead consumers toward “slippery slopes” of debt. He advises tenants facing financial stress to negotiate directly with landlords rather than seek third-party credit arrangements whenever possible.

Affirm’s approach to risk management

Affirm insists that it mitigates such risks through strict underwriting. The company evaluates each application individually, approves only what it believes borrowers can handle and forgoes deferred interest or hidden fees. Those policies, the firm says, distinguish its model from certain legacy financing tools that can compound costs when payments are missed.

Still, critics point out that even interest-free borrowing carries obligations. A missed payment could damage a renter’s credit profile if it eventually becomes a collection item, and short-term fixes may delay rather than solve deeper budget challenges.

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Limited availability during test phase

During the pilot, access will be confined to Esusu’s property-partner network, which spans multifamily buildings, affordable housing developments and other residential communities across the United States. The companies have not indicated how many units will participate initially or how quickly the service could expand if the trial succeeds.

The controlled rollout allows both firms to observe repayment behavior, measure demand and fine-tune underwriting criteria before deciding on a wider release. It also gives property owners time to integrate the BNPL feature into their management systems without disrupting existing payment workflows.

Rent reporting and credit building

For tenants, using Affirm through Esusu preserves the platform’s core benefit: positive rent payments continue to be reported to major credit bureaus. Consistent, on-time records can help improve credit scores, potentially lowering the cost of future borrowing on car loans, mortgages or credit cards.

Esusu’s standard membership, which costs $10 per month, remains available to renters outside the firm’s property-partner network, but those users will not have access to the Affirm BNPL option during the pilot.

Broadening the BNPL footprint

The partnership marks a new frontier for BNPL, which has historically focused on retail purchases ranging from clothing and electronics to travel bookings. Extending the model to housing may test whether installment financing can safely coexist with essential, recurring expenses or whether it amplifies financial vulnerability for cash-strapped households.

Affirm already collaborates with thousands of merchants and recently expanded into categories such as groceries and utilities. Esusu, launched in 2018, has emphasized financial inclusion by enabling tenants—especially those with limited credit histories—to generate tradelines through rent payments.

Next steps

Neither company provided a timeline for when the pilot might become a permanent offering or reach a national scale. Updates are expected once initial performance data are collected and analyzed.

For now, tenants interested in the service must confirm whether their building participates in Esusu’s programs, evaluate membership costs and consider whether splitting rent aligns with their broader financial plans. Advisers recommend that any renter contemplating BNPL should assess income stability, budget discipline and potential alternatives before taking on new obligations, even those marketed as fee-free.

Crédito da imagem: CNBC Make It