anyone have any experience with a local collection agency that you recommend? I have some ex-tenants that owe money after they moved out and want to pursue them.
Just a thought…Is a collection agency the way to go, or small claims court? The agency is going to collect a percentage of the debt just for handling it, WITHOUT any legal jurisdiction to collect for you. My thought is to take it to court and at least try for a judgement.
Property Management company’s use small claims court. There must be a reason.
Capt. Justin
“A foolish faith in authority is the worst enemy of truth”
Albert Einstein
Most collection agencies wont accept work unless you guarentee X amount of business each year. Depending on how much they owe may have an impact on whether they accept the challange. I have a friend who owns a business and he had the same problem. He usually had a couple hundred dollars in accounts where people didn’t pay. Every collection agency he called didnt want to be bothered with such a small amount.
I have to agree with those above. Take them to court. No guarentee you will get your money out of them, but at least you wont lose a large percentage if you do and you can also add in court costs and time into your claim…
Key West 19’6" CC 115hp Merc
14’ Fast Craft w/ 60hp Merc
Having been in property management for about 15 years, hire an attorney and have a demand letter sent. Should be a small fee ($100 or so) and see where that goes. 75% of the time that will get a result if the debtor has the money to pay. The cost of the attorney can be added to total owed.
If that does not yield results, persue a judgement against the debtor.
HIGHLY recommend using an attorney so that you do not make a mistake in the process. Many times these debtors know the game and are just looking for you to slip up with the process so they can walk away with no obligation.
Just my .02.
CAW CAW - I won a small claims judgement 3 years ago against former tenants that left in the middle of the night and damaged my property. every year i go downtown to reinforce the judgement to see if they " own " anything that a lien or judgement can be set against. so far no good, they mysteriously have nothing in their name yet, even though i know where they live and work. good luck is all i can say.
SAKATUMI TRAE
19’ SEA PRO CC // 150 HP YAMAHA
thanks for the replies. First born, I sent you an email.
Caw Caw,
I had an old email address associated with my profile, I have updated it. Can you resend your message?