Do-it-Yourself Tenant Debt Collection

by | May 31, 2010 | Past Due Rent Collection

Outstanding tenant accounts are a heavy drain on a rental property business.

Because there is a degree of uncertainty as to whether a debt can be collected, debt collection agencies typically adjust their fees accordingly, and take a large percentage of what they collect.

There is another option.

TVS has teamed up with Fidelity Information Corporation, a collection agency specializing in tenant debts to help landlords collect debts directly from tenants without paying a contingency fee.

This service is essentially an online, self-service collection agency, where landlords supply the information, and Fidelity sends out collection notices to delinquent tenants. The notices come from a bona fide collection agency, which often prompts the tenant to pay right away. The landlord pays only a low fee for the cost of the letter, and is free to keep any money collected.

If you would like to give it a try, visit Collect Tenant Debts, and select Option 2.

This post is provided by Tenant Verification Services, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).  

Click Here to Receive Landlord Credit Reports.

Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.

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