Hi Everyone, If I only have tenant's birthday, driver license number, and phone number, can I still have a collection agency to help me to collect the delinquent rent?

What rent collection software do you recommend and why?

My banker is too busy for me to hassle her on that.If you have a multi unit you can nominate 1 tenant to collect all the rent and mail it to your bank or PO Box.

This is a business, not some mob collection system.

Quote from @D'Ann Melnick: Saw this was an old question, but it came up in search - this is all part of the rent stabilization laws passed in 2024 - https://www.montgomerycountymd.gov/DHCA/Resources/Files/tena...The pet deposit cannot exceed $300 and the total amount of security deposits collected cannot exceed two month's rent.

Is there specific tool you like to use in order to manage your property in regards to rent collection, report maintenance issue etc.?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I plan to kindly follow up with collecting.Trust but verify - I looked it up & there was a news story about itAnyone know of any resources out the there to help him in the short term with rent? 

I'll also add that Bonnie's group is a great resource with operators from 0-Bonnie.

Ensuring transparency and efficiency in managing owner resources is critical1.Clear Communication on Costs: Provide owners with detailed breakdowns of repair costs and explanations for necessary expenses.