The Flat Fee Program
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The Flat Fee Program
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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.
Comments
9/2/2006 3:34:11 PMArlene Noble said:
I think it could be an effective way to collect
on a final judgement for rent collection and attorney fees for a small amt.I would like to request help to collect $1400 rent for one mo. and the $1800 attorney fees I was awarded by my signed final judgement from the court. Could you offer me some assistance?
1/21/2012 12:55:01 AM
Rosalynn Crawford said:
How can I find this internet service offer?
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