Multifamily Debt Collections: Best Practices
The National Apartment Association (NAA) has released its newest white paper, “Multifamily Debt Collections: Best Practices for Owners and Managers,” which outlines the best practices in the collection of bad debt or monies owed to an individual property or property owner.
With the number of lost collections increasing year over year, aggressive recovery procedures have become a hot topic with apartment owners across the nation. Although this paper doesn’t provide specific instructions on how to recover a debt, it is intended to serve as a guide as you review your company’s particular debt collection policy.
Free to members of NAA, the white paper provides collection standards and steps, best practices to create a well-crafted collection policy and how to reduce bad debt and increase overall recovery.