Avoid This Debt Collection Nightmare

By
Commercial Real Estate Agent with American Apartment Owners Association

Debt photo

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 to collections@joinaaoa.org. Write the word "COLLECTION" in the subject line.

Premium and Premium Plus members receive discounts on debt collection. Sign up now, or upgrade your membership to enjoy the savings.

American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

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Groups:
Commercial Real Estate
Real Estate Investors
Property Management
Tags:
tenant debt collection
landlords

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Rainmaker
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Robert Machado
CPM MPM - Property Manager and Property Management - Sacramento Area
HomePointe Property Management, CRMC

When possible the buyer should insist on getting the original application on each tenant.  That may be easier said than done, but not having it increases the buyers risk.

August 02, 2008 02:33 AM
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