An Act amending the act of April 6, 1951 (P.L.69, No.20), known as The Landlord and Tenant Act of 1951, in creation of leases, statute of frauds and mortgaging of leaseholds, further providing for leases for not more than three years and for leases for more than three years and providing for notice of building credit through rent reporting program for residential leases; and providing for reporting rent payment information to consumer reporting agency program.

This bill updates Pennsylvania's Landlord and Tenant Act to clarify lease rules and introduce a rent reporting system. It maintains the existing requirement that leases longer than three years must be in writing while confirming that shorter leases can be oral or written. Additionally, the bill establishes a program allowing landlords to report on-time rent payments to consumer reporting agencies, which tenants must opt into. Landlords participating in this program must provide written notice and a signed receipt to tenants at the start of the lease to ensure they are aware of the reporting option.