Question and Answers

Debt Collection

As my property managers what can you do to ensure non paying tenants are dealt with and how do you ensure the debt isn’t lost forever?

The only thing which we feel that makes us good property managers are the mistakes we have made in the past, for every mistake made a lesson was learnt, which means that we became stronger and more able to deal with, what is in actual fact a very complicated part of this investment process. As the most established company in the market place in our field, we now know from actual experience what works and what doesn’t. What the law allows for and what process to follow in order to minimize the bad debt situation from happening. We also now know what the end game is as far as non collected debts are concerned.

Our process’ range from automated sms alerts to tenants, to warning letters, to personal site visits to serving notice on tenants and ultimately handing the debt file to professional long term Debt Collectors such as our new partners Intrum Justicia http://www.intrum.com/en/ when we have employed all of our process’ and efforts and energies but without a successful return then we hand the case to our new partners and therefore the debt never dies it will take time to collect but it never dies. We have negotiated special rates exclusively for our clients and if the time ever comes when their services are required then your day to day point of contact at ERS will take you through the process.

Please email us on info@europeanreality.com with any questions on the debt collection process.