Delinquent rent collection

[Antonio Cerqueira]

Hi,

We manage a 1,500+ units portfolio and are looking for a debt collection agency to get delinquent rent for us.

 I have the feeling none of them are worth but just in case, any positive experience? 

Thanks!

Antonio

[Cody L.]

Originally posted by @Antonio Cerqueira:

Hi @Cody L. well, I always heard they were BS...  but I will be very happy if they are not! 

In your experience, what is the aprox. success % of Rentdebt?

Any other BPer with a positive experience with this or any other delinquent rent collection company?

Thanks!

Antonio

Success rate is low.  But normally I'm sending tenants who don't give a crap about their credit to collections.  I just send all debt to them.  Every month it seems like we get a few hundred bucks that they've collected.  And we don't pay except as a % of what they collect.  

I do it in part because that's our process.  And I want tenants to know that if they don't pay we file eviction (goes on their record) and we do send them to collections (which goes on their record - both credit and rental)

I've had tenants call me to work something out to get it off their record so they could find another place.  Or buy a home.  or a car.  Since most other companies want to know it's been resolved.

But I'll be honest - part of it is spite.  If someone rips me off I don't want them just getting away with it. 

There might be better companies. That's just the one I started with a while back and they've been good enough to not bother switching.