MULTIFAMILY COLLECTIONS

ResidentCollect offers an experienced collection team focused exclusively on multifamily collections. Our account managers are specialists that understand industry terms, policies and procedures.

ResidentCheck is uniquely positioned to offer you detailed management reports that validate resident approval guidelines by correlating front-end screening with delinquency and bad debt. By providing combined resident screening, employee screening and multifamily collection services, ResidentCheck offers a complete risk management solution.

As a full turnkey accounts receivable management service, we maximize results by using
an automated letter series and our national attorney network to supplement direct telephone collection efforts.

ResidentCollect
also uses proprietary state-of-the-art software to automate the collection
process by:

    • Our Web based negotiating tool allows consumers to effectively negotiate payment terms without the need to speak with a collector. Online communication is the preferred method for many of the Gen X and Y multifamily consumers. As a result, more accounts get collected without the risk of alienating former residents.
    • Electronic reporting and dispute response to all three national credit bureaus (Experian, Equifax and Trans Union)
    • Individual account managers access credit reports online for more informed efforts
    • On-line skip tracing using the latest information available from various national locator databases
    • Dialer continually calling debtors and routing calls to account managers while automatically updating debtor files
    • Document imaging allowing account managers full access to instantly view the Lease Agreement, security deposit disposition accounting, dispute letters and special notes making recovery negotiations more effective
    • E-payment solutions allowing online Credit Card payment 24/7 and, as a Western Union affiliate, money order payments processing directly in our office.


Instead of making optimistic marketing claims of expected results, we prefer to explain the factors that most influence successful bad debt recovery. No collection agency can guarantee 100% results. However, the tailored partnership approach that we adopt will ensure the best possible results for you. By addressing these factors together we can achieve the highest recovery percentage potential.

Our experience has shown two factors play a key role in determining the success of collection efforts:

    1) Initial resident screening approval standards
    2) Lapse time between move-out and account placement with ResidentCollect

We can help with both!



    There is a direct correlation between the initial resident screening and collection results.

    It has been proven that quality initial resident screening will affect resident payment performance both during and beyond occupancy. ResidentCheck is uniquely positioned to partner with you by directly linking your applicant screening process with your collection results.

    Now you can adjust resident approval standards based on actual community specific occupancy demands and acceptable credit risk factors.

    We provide you a truly custom comparison of initial approval scores and the resulting collection recovery outcome so that you no longer need to rely on instinct or subjective information to adjust resident approval standards!
    For more information about Resident Screening, click here.



Studies conducted by the American Collectors Association (ACA) concluded that for every thirty days an account remains dormant, it is 16% less likely to be collected. Thus, it is easy to see that accounts that are not worked on a consistent basis and sit dormant will affect your recovery rate. Several reasons are attributed to this:
  • Debtors are more difficult to locate. After six months, “address forward requests” are removed from the United State Post Office and phone numbers through Directory Assistance are dropped
  • Debtors that have already secured another apartment, home, automobile, or other large purchases, are less likely to pay. Placing the negative information on the credit bureaus quickly can greatly increase collection returns. Most debtors realize they are going to have a negative credit rating and therefore apply for a new apartment or credit before they have the negative rating
  • Many consumers assume if they have not been contacted immediately after the debt has occurred it has somehow been forgiven


  • Electronic Submittal — As a result of our onsite IT Department we are able to accept a variety of formats for upload into our system, including: ASCII (Flat Text File), CSV (Comma Separated Values) File, Excel, Access, XML.
  • Online — Access ResidentCollect online to:
      a) report new files.
      b) update balances on files already placed
      c) report payments received
      d) review current file placements 24/7
  • Account Placement Envelope — Simply mail the pertinent information in the convenient postage-paid, self-addressed, envelopes we provide
  • Facsimile — You can use our toll-free number to submit files via facsimile
  • U.P.S. — We pay the shipping for U.P.S. delivery to us while tracking the package arrival
ResidentCollect partners with you beyond the traditional collection agency relationship to identify preventive measures your team can undertake to reduce bad debt and help increase recovery of existing receivables. Personal attention to your portfolio drives increased results and our custom management reports will help you measure improvements to your Net Operating Income (NOI).


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4230 LBJ Freeway | Fourth Floor | Dallas, TX 75244 | 800-491-2580