Being a property manager brings with it the potential for serious risk, liability and consequences at a time when the scales of justice seem tipped in favor of delinquent or “bad” tenants. Once a tenant has gone delinquent, property managers must decide whether to proceed with legal action, and after all, if there is minimal probability of recovering the debt, why incur the costs of a suit?
The QCR “Asset Accumulation Report” is designed specifically with your skipped or delinquent tenant in mind. It is the most comprehensive report offered in today’s market and has been successful in assisting the property management industry in making decisions regarding the next course of action. The Asset Accumulation Report will identify assets and liabilities and locate the skipped tenant for service purposes. This report will help make decisions at different stages, from the time the tenant first falls into arrears to the time the tenant makes the midnight move. The report assists in dealing with a rent abatement request or when considering terminating a tenant’s lease for unpaid rent. The report is an excellent decision making tool for property managers, giving them the answers they need prior to sending a case to collection or a law firm.
Asset Accumulation Reports not only look at assets owned by the delinquent tenant but also liabilities. This will help give you and/or your lawyer a better idea of the probability of debt recovery.
When investigating your delinquent, QCR will look at the following:
While it is better to go into any debt recovery process with the most information possible, it is never too late to take a better look at your debtor or defendant to determine whether there is a probability of debt recovery.
An Asset Accumulation Report can help you at the following stages:
At Quality Credit Reporting, we have years of experience helping property managers evaluate a tenant’s status, specializing in timely reports that assist in pre-judgment collections and post-judgment recovery.
For more information about our Asset Accumulation Report, download our Identify Delinquent Tenant’s Assets and Liabilities Brochure or contact us today.