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Home · Property Management · Collections : Seven Vital Tips to Collect Tenant Debt – Part Four of Seven

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

by Bill Gray, Fidelity Information Corporation

Identity photoTake 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 FOUR

Check Their Driver’s License. Make a photocopy of the prospects’ driver’s license and Social Security card. It is not uncommon for a bad ex-tenant to avoid a bad reference by claiming identity theft and saying he or she “never lived there”. Copies of these documents will be crucial in identifying the debtor and collecting your money.

Miss the other tips in our series?

Click here for TIP ONE

Click here for TIP TWO

Click here for TIP THREE

Come back soon for Tip #5 – we will be adding a new tip every week.

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In need of debt collection? Call 303-938-8280 or send an email to [email protected]. Write the word COLLECTION in the subject line.

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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.aaoa.com.

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