A good credit score goes a long way these days. Your credit score is used to determine if you can finance that new car you always wanted, and at what interest rate, as well as determine if you qualify for some jobs, apartment rentals and everything in between.
This issue that some have, is that they cannot build credit history, because they do not have a credit history to approve getting credit, catch 22. Experian, known as one of the major credit reporting agencies, is now including on time rent payments towards calculating a credit score. This will be extremely beneficial for those making on time cash payments that currently do not have any credit history. So it may take some time for Experian to get to your management company to start recording your on time payment, but look forward to it eventually impacting your credit.