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Rent Recovery Services Advice Tips

Read these 5 Rent Recovery Services Advice Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Collection Agency tips and hundreds of other topics.

Rent Recovery Services Advice Tips has been rated 3.2 out of 5 based on 266 ratings and 2 user reviews.
What should I ask a rent recovery collection agency?

Questions for Your Rent Recovery Collection Agency

What costs will I incur from a Rent Recovery Service? What is the difference between contingency based collections and flat fee collections?

Are all collection files reported to the credit bureaus, Experian, TransUnion and Equifax?

How long does it take to get money from the average bad debtor?

If the judgement is older, is it too hard to collect? Is it more expensive?

What if I don't have a judgment against my tenant? Should I take them to court before or after I find a collection agency?

   
What is the process for rent recovery and the courts?

Rent Recovery

Rent recovery services advice:

You may be able, or be forced, to take a tenant to Court to resolve issues such as damage charges, fees, non-payment of rent or early lease termination. We should all try to avoid this by knowing what we (both Landlord and Tenant, are agreeing to when we agree to accepting and paying rent. Both parties are obligated to each other.

Many states and courts have a district Landlord-Tenant Court to handle Tenant-Landlord disputes. Those that do not, you proceed in Small Claims Court. Small Claims Court normally handles matters less then a certain dollar amount, typically under $3500 or less. Check with your local court house for details.

Be sure to have completely thought through the circumstances of the events that bring you to this decision. Fully document the details as well as a summary. Have receipts, pictures or any other items to back-up your claim. If you are a using a collection agency, you may be able to get documentation from them.

If you are scheduled to go to court, be sure to show on that day and time. Failure to show usually results in a judgment for the other party.

   
What does a sample rent recovery letter look like?

Sample Rent Recovery Collection Letter

Landlord Name
Street Address
City, State, Zip RENT RECOVERY SERVICE
a division of
Fidelity Information Corporation
17383 Sunset Blvd., Suite A370
Pacific Palisades, CA 90272
1-310-573-9944

(date)
Landlord Name
Street Address
City, State, Zip
Telephone Number
tenant
street address
city, state, zip
AMOUNT DUE:$

Detach Upper Portion And Return With Payment CREDIT IS A VALUABLE ASSET !

AMOUNT DUE:$

Dear (TENANT),

Our collection agency has been retained to collect the aforesaid balance due resulting from the breach of your Landlord/Tenant lease agreement. You can avoid further collection action on this account by remitting payment in full to the creditor directly at:

Landlord Name
Street Address
City, State, Zip
Telephone Number

As required by law, you are hereby notified that a negative remark on your credit report may be submitted to a credit reporting agency if you fail to fulfill the terms of your obligations.

Unless you notify us in writing within thirty (30) days after receiving this notice that you dispute the validity of this debt or any portion thereof, we will assume the debt is valid. If you make a request in writing within thirty (30) days after receiving this notice, we will obtain verification of the debt or obtain a copy of the judgment and mail it to you. In addition, if you wish to know the name and address of the original creditor, if different from the current creditor, this information can be provided to you.

This collection agency is attempting to collect a debt and any information obtained will be used for that purpose.

Sincerely,
Rent Recovery Service
RENT RECOVERY SERVICE

   
What can I expect from rent recovery services?

The Flat Fee Program

More rent recovery services advice:

Beyond tenant screening and invoicing, the Internet also has opened new options in delinquent rent collection. In addition to traditional contingency-based rent collection services, landlords now have the ability to utilize a Web-based flat fee service that can significantly reduce the cost of pursuing delinquent tenants.

Available through rent recovery services, this new flat fee alternative allows property owners to initiate debt collection proceedings simply by setting up an account and inputting information about delinquent tenants online. The tenant then receives one or more collection letters, depending on the option selected, with instructions to pay the property owner directly. The rent recovery service also automatically notifies the three credit bureaus and the Delinquent Tenant Cooperative of the delinquency.

If the tenant pays the debt, the property owner receives 100% of the amount due, eliminating the need to split the proceeds with the debt collection agency.

If the debt collection letters sent under a flat fee program fail to secure payment, the property owner or manager can switch to a Rent Recovery Service's more aggressive contingency collection program with one mouse click.

The Internet therefore offers new opportunities for efficient tenant management. Property owners and managers can now screen, invoice and initiate debt collection action against delinquent tenants quickly and cost-effectively through these new automoated online collection services. It's just another way that technology is changing the way the world does business.

   
What would a final debt collection recovery letter look like?

Sample Final Rent Recovery Letter

Landlord Name
Street Address
City, State, Zip RENT RECOVERY SERVICE
a division of
Fidelity Information Corporation
17383 Sunset Blvd., Suite A370
Pacific Palisades, CA 90272
1-310-573-9944

(date)
Landlord Name
Street Address
City, State, Zip
Telephone Number
tenant
street address
city, state, zip
AMOUNT DUE:$

Detach Upper Portion And Return With Payment FINAL NOTICE!

AMOUNT DUE:$

Dear (TENANT),

Because you have failed to respond to our previous notices please be advised of the following:

1. We are recommending that our client consider pursuing collection of this debt through every means available.
2. A negative report on your personal credit report may impact your ability to obtain credit, rent an apartment or obtain employment in the future.

Send your payment for the balance due directly to the creditor at:

Landlord Name
Street Address
City, State, Zip
Telephone Number

Sincerely,
Rent Recovery Service
RENT RECOVERY SERVICE

   
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Lynne Christen