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 rules for residential leases and introduce new rent reporting options. It maintains the existing requirement that leases lasting more than three years must be in writing, while confirming that shorter leases can be oral or written. Additionally, the bill mandates that landlords provide written notice to tenants about a building credit program where rent payments are reported to consumer agencies. This notice must be signed by the tenant at the start of the lease, regardless of whether the agreement is oral or written. The legislation also establishes a separate opt-in program allowing landlords to report on-time rent payments to consumer reporting agencies to help tenants build credit.