OldDebts.com is your resource for flat fee landlord debt collection agency services. Through our network of licensed and bonded collection agencies, you can submit delinquent tenants to OldDebts.com for debt collection. Let OldDebts.com help you collect late rent from past due tenants. OldDebts.com is the perfect debt collection agency solution for landlords, property managers, rental property owners, and even roommates! If you are owed money and need to collect it now, OldDebts can help you!
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Looking for contingency based landlord debt collection? Check out Rent Recovery Service for aggressive landlord collection services including skip tracing to locate your tenant, wage garnishments and bank levies. They have no up-front fees or costs, report all tenants to the major credit bureaus, and more!
With OldDebts.com you can report delinquent tenants to the credit bureaus. Delinquent tenants reported to the credit bureaus will help you recover more money and increase your bottom line. Currently the credit bureaus do not allow good tenants to be reported but every landlord and property manager should be reporting delinquent tenants!
OldDebts.com rent collection services include:
- tenant debt collection
- tenant debt collection letters
- tenant delinquency notices
- collection letters for skipped tenants
- collection letters for evicted tenants
- ability to report evicted tenants to the credit bureaus
- landlord debt collection agency services
Here are some additional tips for landlords from a collection agency. These tips will help landlords collect debt on their own as well as use a rent collection agency
Debt Collection Tip #1 : Try to Contact Your Tenant
Before your tenant moves out of your apartment building or rental unit, attempt to contact them by telephone or mail to make payment arrangements for their past due balance. Some delinquent tenants will respond and save you the time of having to contact a debt collection agency. Other tenants may ignore your request for payment and leave you with no choice but to use a debt collection agency specializing in delinquent rent collection.
Debt Collection Tip #2 : Keep All Correspondence
Keep proof of all correspondence between you, the landlord, and the tenant. Communication may include delinquent email notices, certified mail demand letters, even voicemails. You never know what may help you in the future when trying to collect from your former tenant. Plus the collection agency helping you collect from your tenant may request for additional documentation.
Debt Collection Tip #3 : Find a Landlord Collection Agency / Rent Collection Agency
Find a collection agency that specializes in landlord / tenant collections. OldDebts.com has been providing delinquent rent collection services for over 10 years! There are many debt collection agencies that can be found online or in your local area, however, not every collection agency is willing to accept rent related debt. When selecting a collection agency just ask them "Do you provide debt collection services for rent?".
Debt Collection Tip #4 : Contingency Debt Collection Agency vs. Flat Fee Debt Collection Agency
Some debt collection agencies work on a contingency basis. This mean the collection agency keeps a percentage of the money they collect. Other debt collection services provide a flat fee service, like OldDebts.com. This means you pay a small flat fee up front and keep any money collected. Did you know that OldDebts.com is the only collection agency service that provides a flat fee option plus credit bureau reporting services? It's true! No other collection agency service will allow you to select flat fee debt collection and report a delinquent tenant to the credit bureaus! Just another reason why OldDebts.com is the perfect choice for landlords to report tenants to the credit bureaus. Still not convinced? Visit our partner, Rent Recovery Service, for landlord contingency collections.
Debt Collection Tip #5 : Learn About the Collection Agency You Select
Don't look for the cheapest collection agency to collect your debt. Just because a collection agency is cheap doesn't mean its going to work hard to collect your money. Do some research. Does the collection agency help landlords collect late rent? Will the collection agency report debt to the credit bureaus? Does the collection agency report to Experian? Does the debt collection agency report to Equifax? What about Transunion? Will the collection agency offer to send certified mail with tracking through the United States Postal Service? Does the collection agency offer friendly customer service via phone, email, and online chat? These are just some of the questions landlords should ask themselves when selecting a collection service. By the way, OldDebts.com would answer them all YES! Learn more about OldDebts.com!
Debt Collection Tip #6 : Get Your Proof of Debt in Order
When submitting your claim to a collection agency be sure to have all of your documentation to show the tenant owes you rent money. For example, you'll want to provide the debt collection agency with a copy of the lease agreement, rental application, and rent move out / security deposit itemization form. Did the renter have a security deposit? Be sure to give them credit for it. Is rent owed for additional months because the tenant skipped out early? Don't forget to add those extra months. If you're not sure how much you can charge the tenant, OldDebts.com advises discussing the debt with an attorney and/or accountant to ensure you are submitting the proper amount due.
Debt Collection Tip #7 : Stay in Touch with the Collection Agency
Stay in touch with the debt collection agency you choose. Some collection agencies, like OldDebts.com, provide easy account updates through a website. Other debt collection agency services require you to call and speak to someone. Whatever collection agency you select, make sure they know how to handle rent collection and you are able to speak to someone should you ever have any questions. Contact us today!
Debt Collection Tip #8 : Local Collection Agency is Not Necessary
Some advice you may read online advises you to select a local debt collection agency, however, many collection agencies are able to collect on a nationwide basis. As a matter of fact, a small local debt collection agency may not be able to provide the services a nationwide collection agency can. Many local collection agencies do not report to credit bureaus, OldDebts.com does. Many local debt collection agencies are not licensed to collect nationwide, OldDebts.com contracts with collection agencies that are. What if your tenant moves out of state? How will a local collection agency help in that situation? They won't. Select a national collection agency or collection service like OldDebts.com ensuring no matter what state your tenant moves to they can be collected from legally