For property managers and renters across the U.S., 2020 was a challenging year. As residents face unemployment or underemployment, more people than ever are paying rent with credit cards. Rent collection continues to be difficult. With eviction moratoriums in place, property managers are seeking new incentives and means of collection to reduce delinquency. We’ve highlighted some of Rent Manager’s integrations here, as these services may help your efforts to collect from your residents.*
Credit Reporting With RentTrack
Offering credit reporting to tenants is a useful incentive to drive down delinquency. As we climb out of the current economic situation, building or rebuilding a good credit score will be a key factor in securing a stronger financial future. Offering rent reporting services gives your residents an additional reason to pay rent on time. RentTrack is revolutionizing the multifamily rental industry by providing tenants the option to report rent payments to all three major credit bureaus—TransUnion, Experian, and Equifax—with no added monthly cost. Renters are also empowered to monitor their credit progress with a comprehensive dashboard that includes their credit score and credit summary.
Extra Funds With Rent Advance
Whether it’s because of a lost job or unexpected year-end bills, many residents could benefit from access to extra cash. Rent Advance offers a great solution for tenants who are short on funds. Residents can simply submit a free application to Rent Advance to see if they qualify for an advance on their rent or security deposit. Rent Advance’s rapid response time allows property managers to receive funds via ACH as soon as tenants are approved. Best of all, this is a no-cost service for property managers.
Risk Resolution With NCCI
It can be tough to determine the best way to move forward with residents who are behind on rent payments without having all the information. NCCI National Creditors Connection, Inc. (NCCI) delivers actionable intelligence data through a platform of robust Risk Resolution Outsourcing (RRO) solutions. Through enhanced communication, scalable and flexible data collection, compliance-driven process excellence, secure technology protocols, and actionable reporting, NCCI creates the highest return on property managers’ investments. As a nationally licensed debt collection company, NCCI’s experienced field representatives are SOC II compliant and ready to help.
Manage Delinquency With Resident Interface
Property managers are juggling all sorts of extra tasks during this new normal. These include sanitizing common areas, acting as IT support, and much more. Having the ability to outsource one of the industry’s most difficult jobs—managing late residents—gives your team time to focus on other aspects of their long to-do lists. Resident Interface. is a leading provider of delinquency management services to the multifamily industry. Their secure platform, experienced staff, and law-firm partners deliver peace of mind by managing all elements of rent disputes. Through customized solutions, Resident Interface creates a consistent and compliant process that delivers remarkable value.
Rent Manager and our Integrations Program are committed to easing the burden property managers face as we continue to navigate the current challenging economic conditions.
* Always check your local and state laws for the most up-to-date information on collections and evictions.