HELP! I can’t post demands for payment, and I need tips for getting my delinquency under control

Why can't you post demands?

I found out yesterday after I already posted demands that our equity partner does not want any demands for rent posted until end of year. It’s crazy. I had 2 nsf’s this month and now I’m thinking they are just going to ride it out.

Same! it's so frustrating. we had a really stern letter prepared by our attorneys that basically said that per the eviction Moratorium they still needed to comply by communicating with us and if possible set up a payment plan. I have over $150k in delinquency

Door knocks ... people don’t really like when they have company and you knock asking where their rent is

I am not working right now, so my heart goes out to dealing with this level of delinquency... but I had an asset manager that required I call all my delinquent residents every single day. I had to chart it and email him before I left daily. I would tell the resident to expect my call daily, and that it was a requirement of my job. If I went over 4 days with no response or acknowledgement, I would post a 24 hour notice to enter to check for abandonment. (That always gets a response if they are there) The asset managers theory was, the one that annoys them the most gets paid. It pretty much works. I’ve used it on every property since... most months at zero delinquency. I’ve worked on all levels of properties. Good luck!!!

Remind them that the debt continues to accrue, and they will be responsible for it when (if?) things open back up.

Help them by dropping a note with who to contact for rental assistance and explain they will be better served to get help rather than wait for the day and be left with a judgement and a mountain of debt. There is help out there, we need to show them the way to the outcome we all want. It has been working for me.

Offer payment plans if you have to. Something coming in is better than nothing. Why are you not able to proceed with evictions right now? VA lifted their moratorium for evictions and now we just have the CDC to deal with. So far we only have 1 that has brought us the declaration from the CDC.

Check with your legal but you can send balance due notices just not court demands.

Take partial payments

Continue to provide statements of the balance so they are aware of it and that it’s accruing. Continue doing most everything you normally do, just abide by what has been taken. Currently to avoid eviction the tenant needs to complete and turn into you the cdc form, certifying certain requirements. If they have not, they are not protected. It’s my understanding that in Colorado there are not any new local moratoriums, so other than the cdc eviction rules you should be able to handle business. I believe it says 30 days notice for Colorado, but again I’m not from there so I might be wrong.

As the “owner” or “agent for owner” you are able to call, letter, contact employers, contact emergency contacts to request rent, verify employment, etc. I’ve called employers to verify that the resident was unemployed - surprise! They were still working.
Collection agencies are much more governed than the owner.

Keep texting..calling..that's about all you can do at this point...find rental assistance agencies in your area...keep texting them the info..follow up to see if they contacted the agencies...if they aren't responding at all and ignoring you start texting that if you dontnhear back from the ask them if they have moved..if that doesn't get a response..text them and then give them notification that since you aren't hearing back from them you are going to post a 24 hour notice to enter to make sure the property is ok ...idk..its a screwed up world and some people suck

For the tenants who have lost their income, being as understanding & lenient as possible is definitely warranted. For the ones you know are still working & just taking advantage of the situation, no mercy on late charges & other collection methods available, such as liens & lockouts.

Hi Sheila! Why can’t you post 30 day demands?
We are and still able to physically evict people. If they sign the declaration, it can still be successfully contested if they haven’t sought help. If they have, we get more details about the amounts pending. We get more people to sign the Colorado DOLA POP app once a demand is given so they can stay in their homes, for now. We have a demand given during the cares act that isn’t official, but looks like it is, if ownership is not allowing official demands to be posted that could help you too. Hope these ideas help you and your residents!!

HI!!! 1) our company decided not to do the POP & 2) the company feels like even with posting balance due letters, I have to supply the CDC documents which will give the residents too much ammunition.

You will always have people who will take advantage of the situation. It sucks. It truly sucks. Sometimes some kindness and compassion goes far.
Have you reached out to them to make any sort of payment arrangement?
Explaining -kindly- that the money will come due eventually, and an eviction stays on your housing record forever might help, if you offer to allow them to make incremental payments. It won’t erase your delinquency, but it might work to knock it down a little.

Many agencies out there helping people to pay rent. Unfortunately, you have to help your residents so their rent can get paid.

This is a huge problem this year, and many property management teams are being squeezed. A new industry, credit bureau reporting for property management, has helped tremendously.

Monthly, renters pay a fee to their PM or Landlord to have their payments reported to the credit bureau, the fee is set at a fixed rate and can be up-charged. The property creates a new revenue stream, and renters are incentivized to pay on time!

The ones that pay on time have great rewards! Their credit score goes up, they have longer payment history, and if/when they apply to a new apartment, their payment history is on their credit report - it's the most accurate landlord verification on their tenant history.

The Fair Credit Reporting Act protects landlords and property management groups to auto-enroll this monthly, state and city mandates haven't regulated this.

It's a win-win-win!

I'm totally free to speak more about this service and industry for questions.

Hello,
This is very interesting, but my question is: if I have a person with delinquency of $15000 he would not be interested in reporting it to a credit bureau... Are there any other leverages?
Thank you very much!