Do you use a collection company for your damage claims?

[Jonathan W.]

I notice that apartment companies will sometimes send any money owed immediately to collections although it doesn’t actually go “into collections” for a month or two.

Does anyone, especially people in SFH do the same?

What are the pros and cons of this?

I imagine it’s taxing but also helps you move on and receive cash flow as I imagine you sold the debt to collections

[Marc Winter]

In our state, we normally get a judgment certified by the Justice and get it recorded at the Prothonotary's office (County Recorder).  It costs from $50 to $100, depending on the county, but that's the only sure way to have it on record and also alert other landlords or lenders.

You can turn the cases over to a collection agency.  We use a contingincy-based company, and their batting average is low.  That being said, I am not aware of companies that actually will purchase your judgments for cash for this type of case (bad residential tenant).  If you know of one, please post for the rest of us.