The combination of rental credit reporting and debt collection services provide a powerful way for Property Managers to lower payment delinquency.
Columbia Debt Recovery (dba Genesis) and CredHub announce collaboration to increase ease of access for the nations’ Multi-Family Providers when it comes to submitting tenant payments, or missed payments to the credit bureaus, and if necessary, directly to collections.
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Genesis and CredHub are combining their credit reporting and debt collection services to help Property Managers and Landlords reduce payment delinquency and outstanding receivables when they need it most. The two best-of-breed service providers now provide a full service “pre” and “post” collections option for the industry.
Increasing on-time rent payments is the single biggest reason that property owners and managers are interested in resident credit reporting. Credit reporting creates an incentive for residents to pay rent on-time. And the results prove that this incentive system works. CredHub’s clients see an average of 50% reduction in delinquency once fully implemented.
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If your efforts fail to bring the tenant current and they leave your community with an unpaid balance, Columbia Debt Recovery (dba Genesis) will handle the attempted recovery. Genesis is one of the most trusted Multi-Family Industry partners handling the collections of nearly 10% of the unpaid Doors in the Nation.
The nation’s largest providers have depended on Genesis to navigate the complex and diverse compliance landscape created by the unprecedented regulatory changes in connection with Covid -19. Genesis not only works to resolve unpaid balances, but also serves as a trusted compliance consultant to the multifamily industry.
The landscape of multifamily is changing in ways that can challenge the very best of our established practices and management models. The combination of tenant credit reporting and debt recovery represents an innovation needed to meet the challenges that our new normal presents.
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