tenant debt collection: An Alternative to Security Deposits? - 10/28/09 07:40 AM
Some Landlords Choosing Surety Bonds Over Security Deposits: But Will It Work for You?
by Bill Gray
As with all of my articles, this one is from the perspective of a landlord collecting tenant debt. Remember, I am on the back end of the deal, looking at damaged rental units and unpaid rent.
I will limit my comments about tenant surety bonds to my experience and how they affect debt collection after a tenant moves out.
What is a surety bond?
A bond is not a deposit. A surety bond is a product that a prospective tenant can purchase in lieu … (1 comments)

tenant debt collection: Avoid This Debt Collection Nightmare - 08/01/08 07:55 AM

Tenant debt collection expert Bill Gray is seeing a disturbing trend:
"We are getting more and more collection requests from owners who inherited the existing tenants from the seller," Bill explains. 
"Problem is, all they have is the lease. They don't have the information we need for collection. Sometimes they don't even have the debtor's Social Security Number."
The demand for tenant debt collection is growing, and you need to be one step ahead, especially if you are shopping for an investment property that is subject to a tenant lease. Read more.
In need of tenant debt collection? Call 303-938-8280 or send an email … (1 comments)

tenant debt collection: HOW TO COLLECT DEBTS WHEN YOUR TENANT LEAVES OWING YOU MONEY - 02/12/08 09:06 AM
"The nature of tenant debt collection is very different than collecting other types of debts," explains Jeff Cronrod with FIC, an expert in collecting tenant debt. "With other types of debt, time is of the essence.  You have a better chance of collecting a medical debt, for instance, if you collect it right away.  The opposite is true of tenant debt.  You will be far more successful if you wait it out until the tenant is back on his feet."
"But often landlords don't understand the value of their old debt files," Jeff continues
From our series Real Estate Investment Secrets.  Read more How to Collect … (3 comments)

tenant debt collection: Two Secrets to Help You Save Money On Tenant Debt Collection - 02/04/08 07:52 AM
Many landlords hold on to their tenant debt because they believe the hassle of collection, especially the cost, outweighs the gain.  Why bother when you stand to lose 50% of anything you recover to collection costs anyway? 
But you may be able to collect tenant debts quickly, and much cheaper than that, if you know these secrets:
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tenant debt collection: How-To Tips for Tenant File Maintenance - 01/17/08 03:46 AM
Screening the tenant before you rent is only half the battle. Circumstances can change, and your ideal tenant can become a potential rent collection problem. Maintaining a current and complete tenant file is a simple way to protect your valuable investment. 
Remember, the sooner you are aware of a potential problem, the sooner you can gain control and minimize your losses.
Here are some tips for Tenant File Maintenance:
 
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tenant debt collection: Seven Vital Tips To Help You Collect Your Tenant Debt - Part Six of our Seven Part Series - 12/05/07 07:08 AM
by Bill Gray, Fidelity Information Corporation
Take advice from someone who knows the tenant debt collection business:
Your debt recovery may depend on what you do before the tenant moves in!  
Get the right information from your prospect before they move in, and you will always increase your chances for debt recovery on the back end.
TIP NUMBER SIX
Background Check Co-Signers.  One way to rent to someone with questionable credit or rental history is to require a co-signer. But avoid the common mistake of accepting a co-signer without checking their credit and rental history. It is crucial to collection to have the co-signer complete … (0 comments)