Collection Services
We can do your invoicing and collections for your apartment leases, or residential leases.
The most common complaint I hear about being an apartment locator is the invoicing and collections side of the business.
Traditionally we have steered away from offering this service to other apartment locating firms due to its difficult nature, but we have come up with a process that allows us to manage several company’s invoicing and collection needs.
We do have a few requirements that accompany the service in order for it to run smoothly, but overall the amount of time and money you will save will be worth it.
How Much Does it Cost?
Optional Services
*These optional services are on a per-use basis, and are meant to increase your probability of receiving payment.
Get The Free Information Packet
What are the Requirements?
Use Our CRM
We have a very effective CRM that we actively manage and update since 2015 and it was with transaction management in mind. We come from apartment locating so we knew what it would take have a CRM that could efficiently manage a large number of transactions. Also, we would not be able to efficiently manage this service if our people had to switch to different CRM's every time that were working for a different real estate firm.
Pay For Your Own Vendor Compliance
We are happy to set everything up and manage the number of different vendor compliance companies and invoicing software's for you; however, all of the fees required for the service would have to be paid for by you.
Provide a Bank or Credit Card to Keep on File for Fees
We will only charge you the fees that you agree to which are listed below, but we have staff who are paid whether you pay or not, so we would need to setup a recurring payment that would be paid from your account. * Credit Card Payments will have a 3% transaction fee added on top, or setup EFT to avoid additional processing fee.
Frequently Asked Questions
No, we can provide invoicing and collection services to any real estate company or individual agent, or apartment locating company or individual agent in the US.
We handle all of the vendor compliance, invoicing, collections, what you do is up to you, but please update our collection team any information you receive. Our invoicing is done through the CRM that is provided with service. Once you have leased a client, we do ask that you verify the lease. We take it over after verification and work it until payment is received. If you are curious about our invoicing process, take a look at the blog article that we wrote.
The fees posted above are the only fees we charge for the invoicing and collections. The monthly $399 and the transaction fee of $25 per invoice.
Our average collection time is below 60 days from the invoice date. This is an overall average and includes properties that pay right away and properties that wont process until after 90 days.
First, let me say that if you have a signed lease verification from the property we will collect on 99% of those even if the property pushes back on it. Those transactions with no signed lease verification will have a reduced collection rate.
The invoices that go to Past Due status are continually called until we are no longer able to get any response from the property, its property management, or landlord. At which point, we will contact you to give you your options for next steps on getting paid.
