ReportResidentREPORT BAD RESIDENTSEducating your residents (from Day One) that "poor" performance and non-payment of debts will be reported to national credit bureaus and that poor performance in general will be kept on file and made available to other landlords, lenders, creditors and others whom the resident may need to interact with in the future to rent another apartment or buy a home or car. In other words, residents need to know that they will be held accountable for their actions, and can not simply perform poorly and it not have a negative impact on their future renting or buying desires. Such accountability can serve as a powerful incentive to encourage residents to either abide by all your rental terms or to correct their performance quickly (within 72 hours) before being reported. In fact, that is the reason for using the "Report Your Resident" strategy. And, that is why it is recommended and so important to incorporate the 72 Hour Warning Notice and the Good Resident Letter into your total rental management program and procedures.
In addition, if residents fail to pay all their debts, MrLandlord.com has developed an alliance with a national collection agency so that our regular website visitors can indeed report bad debts of tenants to the three major credit bureaus for one low fee of $12.95. This reporting can be done right on-line. Click here! |
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