Collections

It is not uncommon for a tenant to owe their landlord money when they vacate. On rare occasions the former tenant will make arrangements to pay the balance off. But typically, we must contact them to make arrangements for collection. But how does a property manager go about posturing for this in an effective way? Well, the first step towards collecting real debt began way back at the application process. The application carries the most useful data when trying to find a debtor. Their social security number, bank info, date of birth, former addresses, etc. This data combined with a thorough and accurate move out report will give the corporate office and/or the collection agents all the bullets they need to try and collect the debt. The best way you can assist this process is by always collecting good information from the tenant and trying your best to make sure you have a tangible FORWARDING ADDRESS when the tenant vacates. Those tools will greatly increase your ability to collect old debt.

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