Assembly Bill 1057 mandates that landlords provide residential tenants with an annual offer to report their positive rental payment information to a consumer reporting agency. Positive rental payment information is defined as complete and timely rent payments, excluding any instances of late or incomplete payments. If a tenant accepts this offer, the landlord is required to report the information regularly, corresponding to the tenant's rental payment schedule. The bill stipulates that landlords may charge a fee for this service, which cannot exceed the actual cost incurred or $10 per month, whichever is lower. Importantly, landlords cannot charge this fee if the tenant has not accepted the offer, and a rental agreement that waives the landlord's responsibilities under this bill is deemed void.

The bill also outlines specific conditions under which it does not apply, such as for landlords of residential buildings with 15 or fewer units, unless they meet certain criteria related to ownership and corporate structure. Additionally, the bill protects tenants receiving rental payment assistance, stating that landlords are not required to report their payment information during this time. Furthermore, it ensures that tenants' rights to rent abatement are not forfeited by accepting the reporting offer, and it prohibits landlords from terminating a tenancy for failure to pay the reporting fee.