Residential property management companies work to provide clean, safe and well-kept homes for tenants to rent. Tenants not paying rent lead to time consuming follow up processes and once those efforts are unsuccessful, eviction of the tenant is the next step. Broken leases, evictions and property damages are almost always part of the unpaid amounts owed and attempting to collect from a former tenant can seem almost impossible.
A tenant leaving without fulfilling their lease creates an unoccupied home which costs money. Add up the amount of the unpaid lease obligation and it can easily end up being thousands of dollars owed and not paid. Eviction, loss of rental income and a vacant home is costly to any owner and management company. Trying to recover lost money from a past tenant can be a very difficult task. The tenant has moved on and isn’t likely to pay for their past mistake and in some cases, they can’t be located at all. No forwarding address or contact information was provided. Property management companies can’t create the necessary infrastructure needed to effectively pursue unpaid rent and damages from past tenants.
Our team of property management experts are skilled at locating a tenant who has skipped out and doesn’t want to be contacted. The ability to report the unpaid lease or eviction to the consumer credit bureaus can be a big help. Unpaid property management accounts appearing on a tenant’s credit report will be seen by other management companies when the tenant applies for rental housing again. The tenant is then faced with not being able to obtain housing without first dealing with the previous rental obligation. This may also keep them getting a car loan or credit card. We make sure the next time a tenant background check is pulled; the delinquent rent appears!
Southwest Recovery Services has proudly served hundreds of residential property management companies for over 20 years. We are a recognized member of NARPM and other industry associations. Partnering with us saves you the time you need to do the other things needed to successfully manage and maintain a property.