The AASEW is proud to announce that we have partnered with Rent Recovery Service to provide bad debt reporting. AASEW members receive a 15% discount.
I am very excited about this as it will give our community the ability to help each other identify potential problem applicants, while also encouraging tenants to satisfy rent debts.
Rent Recovery Service has been well recommended to us from other associations that we have worked closely with in the past on national legislative issues. Be sure to give me feedback on how well it works for you. – Tim Ballering
Benefits to landlords:
- Reporting the debt as a collection account alerts future landlords and credit grantors that your ex-tenant left owing you money.
- Previously, the only way to report a skip debt was to hire a commissioned collection agency.
- Not all evictions and judgments appear on credit reports. Reporting the debt as a collection account ensures the debt will appear on the report.
- Unless paid, the debt will remain on the debtors credit reports for up to seven years.
- The service is online and very easy to use. The landlord is in full control of the account.
- No commissions, just one low flat fee.
- Option to send either one collection letter or a series of letters to the debtor included in the flat rate price.
- Association members receive a 15% discount off our already low retail prices. Report a debtor to all three major credit bureaus for as little as $14.40 per debtor!
- Increase the likelihood that your debtor will pay you what he owes you!
- Close the account at any time and turn over to a traditional collection agency.
To set up your account contact Bill Gray, account manager, at:
Note From Bill Gray:
I have received a couple emails and have talked with members regarding the service. The question has come up about contingent collections. This would not be my first choice if I were owed by a tenant, but it is an option. Our normal rate is 50% of what we recover, but for members we will discount to 45%.
If it were my debt, I would use the reporting service first. If I did not receive payment in 9 – 12 months I would roll it over to a contingent collection effort. Contingent collections reports to the bureaus also.