Property Management Debt Recovery
Join hundreds of property management companies in Washington, Oregon, and Idaho using Atlas Financial Services as their partner in property management debt collections. Atlas works with some of the most well-known property management companies in the Pacific Northwest. We help collect past-due rent during this challenging time, aka post-covid pandemic. Since the “tenant eviction moratorium” has ended, property managers can place accounts in collections with some required steps. However, all the accounts that become past due after the moratorium are worked semi-normally. Continue reading to learn more about property management debt recovery!
What do I need to do before sending a tenant to collections?
You need to send the final accounting on what was done with the security deposit within 20/30 days of the tenant’s move-out date. It is highly recommended that you give the tenant an additional 30 days to pay the final bill before sending them to collections unless they have already refused to pay.
Can I place a past-due tenant in property management debt recovery accrued during the Washington & Oregon State moratorium?
Yes, landlords and property management companies can place accounts accrued during the moratorium in collections if they have offered a reasonable, individualized repayment plan and the tenant has refused or not made payments. There cannot be any fees or charges added to the unpaid rent.
Can I place a past-due tenant in property management debt recovery accrued during the covid-19 emergency in Idaho State?
Yes, Property Management Companies and Landlords in Idaho can place accounts in collections.
Can Independent Landlords place accounts in property management debt recovery?
Yes, if you have a well-written lease agreement, you are no different from a property management company. If you own a couple of homes, you rent out and stop receiving payments; you can place them in collections. Suppose you live in the state of Oregon or Washington. In that case, you still need to send the final accounting on what was done with the security deposit within the 20/30 days of the move-out date, and again strongly advise you to wait an additional 30 days before placing it in collections unless the tenant refuses to pay.
Does Atlas Collect for Self-Storage Warehouse?
Yes, we have several self-storage facility clients. Self-Storage Warehouses that assign accounts 90 days past due can considerably reduce accounts receivables.
What documents do I need to get started with debt collection services?
- Lease Agreement
- All ledgers/invoices related to current delinquent account balance.
- All notices related to current delinquent account balance.
Everything leading up to the current delinquent account balance is all the documentation we will need. That way, our collectors can reference or provide this documentation to our debtor. We can show them the signed lease agreement, the notices of any rent changes or damages accrued, etc. If you have any questions, please call Brandon at (564) 208-4838.