Horror stories abound of problematic renters and delinquent tenants who frequently fail to make rent payments, walk away from the property thus breaking the lease agreement, or end up being evicted. But these stories are no laughing matter for apartment owners and property managers who have to face this reality month after month. At Southwest Recovery Services, we offer tailor-made solutions for multi-family management companies so you can improve cash flow and protect your bottom line.
Improve Debt Collection from Evicted and Moved Out Tenants
The apartment rental economy is at its highest point in 50 years, recording 43.4 million households and composed of upwards of 100 million renters according to Pew Research Center. This makes up 36.6% of the entire U.S. population. But in a separate report, delinquency rates have also climbed, with an average rate of about 20% and reaching as high as 30% in many urban areas, costing landlords $15.6 billion in revenue lost to unpaid rent. Southwest Recovery Services offers a systematic approach to delinquent tenant collections that generates revenue that can help off-set eviction costs and legal fees.
We Help You Collect Lost Rent
Eviction Lab reports that an average of 217,000 eviction filings were made and 909,000 households were evicted yearly for the past 20 years. This makes up 2.3% of all renter households, which means that about 1 in 43 households is evicted every year. But tenant turnover costs a lot of money. As of 2018, the average loss is $1,750 per month for each month any apartment unit is left vacant. Southwest Recovery Services has worked successfully with thousands of evicted or former tenants and has a creative and professional approach resulting in high recoveries of lost rent and costly damage charges by former tenants.
We Understand the Plight of the Tenants
After the collapse of the housing market that triggered one of the worst economic recessions in recent memory, it has become more difficult to purchase and own a home. For many Americans, home rental is the only option they have to provide a home for their families. Our collection agents understand that many renters may be struggling to maintain a long-term and stable residence and are forced to rent and often the tenant doesn’t manage the obligation well. It’s difficult for former tenants to be able to pay for evictions or broken leases and damages. Additionally, they will find it difficult to get a new home to live in if they haven’t honored a prior lease. Southwest Recovery Services provides options to former tenants that can allow for a resolution to their obligation and provide them with a sense of accomplishment and maintain their dignity.
Southwest Recovery Can Help
Most apartment owners and management companies do not have the capacity to go through intricate legal procedures and lengthy court proceedings simply to go after evicted tenants. We at Southwest Recovery Services can help you by:
- Structuring repayment or settlement options
- Creating a system for monitoring payments
- Tracking down evicted or “midnight mover” tenants and holding them accountable
Allow us to help you protect your business and reputation and maximize revenue using our proven, professional and more effective approach to debt collection.
We are Proud Members of the Following Associations:
We have provided many years of superior recovery results for Apartment communities and Single family property management companies.