Year: 2017

“Tenants Sue Property Management Company Over Outstanding Fees” – Now that is not a headline you expect to see in the multifamily industry. But that was the case for Dunn Wright Services, who was a defendant in a class action suit by more than 1,400 tenants. The claim? Residents accused the property management company of…
Collecting rent is one of most fundamental responsibilities of a property manager. Unfortunately, not all residents pay their rent on time, and some won’t pay at all. As we’ve shared in previous articles, delinquency management in multifamily properties is an important, and often overlooked contributor to operational performance. In addition to the obvious and direct…
According to our research, accommodating late rent payments from tenants only reinforces negative behavior and leads to steady unwanted delinquency rates. Surprisingly, an automated filing process actually yields lower delinquency and eviction rates. So why, then, are so many property managers reluctant to file? Here are the top five reasons we see property managers hesitant…
Delinquent rent is a costly distraction for multifamily property managers. Legal expenses. Court fees. Reduced working capital. Unproductive staff time. Lost rent. And ultimately the unfortunate costs of turning over a unit through eviction. These costs are a painful reality of multifamily management, particularly in affordable housing, where delinquency rates commonly exceed 20%. No one…