Seven Vital Tips to Help Collect Tenant Debt - Part Six of of Seven

Seven Vital Tips To Help You Collect Your Tenant Debt - Part Six 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 chances for debt recovery on the back end.

TIP NUMBER SIX

Background Check Co-Signers.  One way to rent to someone with questionable credit or rental history is to require a co-signer. But avoid the common mistake of accepting a co-signer without checking their credit and rental history. It is crucial to collection to have the co-signer complete a rental application and sign an iron-clad agreement.  In fact, it is extremely important for every adult moving into the apartment to complete an application and sign the lease.  This gives you far more leverage and ability to collect any future debts.

Miss the other tips in our series?

Click here for TIP ONE  

Click here for TIP TWO

Click here for TIP THREE

Click here for TIP FOUR

Click here for TIP FIVE

Come back soon for Tip #7 - 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. 

Premium and Premium Plus members receive discounts on debt collection. Sign up now, or upgrade your membership to enjoy the savings. 

Premium Plus members receive a copy of Real Estate Investment Secrets, twelve interviews with industry leaders, including “How to Collect Debts When Your Tenant Leaves Owing You Money” by Jeff Cronrod, CEO of Fidelity Information Corporation.  To find out how to purchase Real Estate Investment Secrets,visit www.joinaaoa.org.

Tags: tenant+debt+collection, tenant+background+check, real+estate+investment+secrets, apartment+associations, apartment+owners+associations

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Filed under: AAOA Forum, Collections

This entry was posted on Friday, November 30th, 2007 at 10:42 am 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. TENANT BACKGROUND CHECKS: ALERT! HOW TO SPOT RED FLAGS said at December 13th, 2007 at 1:03 pm

   […] For tips on how your tenant background check can affect your chances for recovery of unpaid rent, check out our series on the blog “Seven Vital Tips to Help You Collect Your Tenant Debt”. […]

2. Anonymous said at January 2nd, 2008 at 3:38 pm

   […] For tips on how your tenant background check can affect your chances for recovery of unpaid rent, check out our series on the blog “Seven Vital Tips to Help You Collect Your Tenant Debt”. […]

3. TENANT BACKGROUND CHECKS: How-To Tips for Tenant File Maintenance said at January 17th, 2008 at 9:35 am

   […] For tips on how your tenant background check can affect your chances for recovery of unpaid rent, check out our series on the blog “Seven Vital Tips to Help You Collect Your Tenant Debt”. […]

4. TENANT BACKGROUND CHECKS: Checking Personal References said at January 31st, 2008 at 12:22 pm

   […] For tips on how your tenant background check can affect your chances for recovery of unpaid rent, check out our series on the blog “Seven Vital Tips to Help You Collect Your Tenant Debt”. […]

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