Seven Vital Tips to Collect Tenant Debt – Part 3 of 7

Seven Vital Tips To Help You Collect Your Tenant Debt – Part Three of our Seven Part Series

by Bill Gray, Fidelity Information Corporation

 

Take advice from someone who knows the tenant debt collection business:  Your debt recovery may depend on what you do before the tenant moves in!

Get the right information from your prospect before they move in, and you will always increase your debt recovery on the back end.

TIP NUMBER THREE

Bank Accounts!

Make a photocopy of a prospect’s check, and the rent check every month. 

• That way, you will have the right information for recovery, and you may discover a secondary bank account or other changes crucial to collection. 
• If this person skips owing money, a record of their current back account numbers can spell the difference between successful collection and no collection at all.

Miss the other tips in our series?

Click here for TIP ONE  

Click here for TIP TWO

Come back soon for more from Bill Gray - we will be adding a new tip every week.

If you would like to be notified of new tips, please subscribe to our blog by clicking the box in the upper right side of the site.

In need of debt collection? Call 303–938-8280 or send an email to collection@joinaaoa.org.  Write the word “COLLECTION” in the subject line. 

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Tags: tenant+debt+collection, bad+rent+collection, american+apartment+owners+association

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Filed under: AAOA Forum, Collections

This entry was posted on Wednesday, October 24th, 2007 at 12:58 pm and is filed under AAOA Forum, Collections. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. AAOA - American Apartment Owners Association » Seven Vital Tips to Help Collect Tenant Debt - Part Seven of Seven said at July 31st, 2008 at 1:32 pm

   [...] Click here for TIP THREE [...]

2. AAOA - American Apartment Owners Association » Seven Vital Tips to Help Collect Tenant Debt - Part Six of of Seven said at July 31st, 2008 at 2:06 pm

   [...] Click here for TIP THREE [...]

3. AAOA - American Apartment Owners Association » Seven Vital Tips to Collect Tenant Debt - Part Five of Seven said at July 31st, 2008 at 2:07 pm

   [...] Click here for TIP THREE [...]

4. AAOA - American Apartment Owners Association » Seven Vital Tips to Collect Tenant Debt - Part Four of Seven said at July 31st, 2008 at 2:08 pm

   [...] Click here for TIP THREE [...]

5. david said at September 27th, 2008 at 5:54 am

   good info.
   what is the cost of tenant debt collection?

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