How many times have you wished that you could report a bad tenant to warn other landlords?
We have found that when a prospective tenant is warned that the landlord reports positive and negative information affecting the tenant's credit, the rent becomes a priority. We let all applicants know that if they value their good or clean credit, they must make the rent a top priority. We ask the tenant not to sign a lease with us unless he or she is absolutely sure that paying the rent in a timely manner will be no problem. We tell him that we would not want to see him ruin his excellent credit standing and damage his future creditworthiness when it comes to applying for a mortgage or other credit. Once a tenant knows that his own actions will determine what information will go on his permanent record, the importance of paying the rent and honoring the agreement will be seen in a whole new light.
- The National Tenant Rating Bureau or Deadbeat Database is used by Boca Raton Property management
- For delinquency reporting to the credit bureaus is part of our service (additional fee).
This tenant reporting service is designed to make it easy for landlords to report information on tenants. Whether the information is positive or negative, it can be a source of reference for landlords everywhere. We now hold a powerful tool in our hands that we need to make the tenants aware of. The fact is, tenants are more careful with payments that will reflect on their record. As a landlord, you are now in a position to give the tenant another incentive to prioritize the rent and have it paid before the tenant's other bills.
The Deadbeat Database is not meant to be a weapon to punish bad tenants, but rather an effective tool for enforcing your lease right from the start.
For collection purposes, you may decide to report on the tenant's credit report...
Credit for the article is given to the author and The Landlord Protection Agency, www.theLPA.com