Commercial properties provide the rental space for national and international businesses everywhere. As the backbone of commercial real estate, it’s imperative that tenants continually pay their rent on time. If they don’t, it can be an incredibly stressful, costly, and timely process for commercial properties to collect the debt.
At Southwest Recovery Services, we have handled hundreds of commercial rent collection cases and continue to provide our clients with efficient, timely services. We offer many commercial rent collection services, including tenant contact, invoice management, and collection.
So, let your leasing firm take care of what you do best. Southwest Recovery Services can take care of the rest.
Challenges for Commercial Rent Collection Agencies
In-house debt collection—specifically from unpaid invoices—can be a major problem for commercial leasing companies. After 90 days, these debts becoming increasingly more difficult to collect and, more often than not, internal accounting teams are unlikely to have the experience and tools necessary to deal with delinquent accounts receivable management.
Special training and education are needed to understand debt collection best practices. This can be difficult to provide to an existing team as it takes time that most agencies simply don’t have. While most agencies might think it cost effective to hire new employees, this isn’t actually the case. Onboarding, creating new infrastructure, attorney cost, credit bureaus, and research tools are all required as a part of the hiring process and can end up costing a commercial property more than the debt they need to collect.
Hiring a well-respected, experienced commercial rent collection agency can cut down on cost, time, and overall stress that can arise from trying to collect unpaid invoices from multiple tenants.
Benefits of Working with a Professional Collection Agency
There are many benefits to working with a professional collection agency, including providing:
- Revenue Cycle Management
- Judgment Collection
- Consulting Services
- Accounts Receivable Management
Recovery agents are well-trained and educated specialists who are uniquely qualified to recover debt in a timely manner. They pursue every available strategy to collect unpaid debts as quickly as possible.
In addition to their skills, they also have a wide-range of tools at their disposal, such as: research software, contact systems, credit monitoring capabilities, and attorney relationships. Tenants are more likely to pay off debts after being referred to a commercial rent collection agency simply due to the standards adhered to by professional collectors.
Southwest Recovery Services is the Solution
While many debt recovery services have similar features and services, Southwest Recovery Services is unique among them. Our number one feature is our approach to collection. We are a contingency collection agency, which means that we don’t buy debt up front at rock bottom prices or charge high fees. Instead, we work on collecting the debt at no up-front cost, and charge our fee when the debt is paid.
Additionally, we are committed to respectful treatment of your customers through our entire collections process. Our firm but friendly approach ensures that your customers will be left with a positive impression of your company after the debt is paid, which helps you win repeat and referral business. These features combined mean we work with you and your customers to arrive at a debt resolution that is positive for everyone.
Learn More About Southwest Recovery Services
Southwest Recovery Services is here to help you regain your productivity and recover debts faster. Click here to learn more about our services. Call today to get started.