Last modified on January 6th, 2016
By Stephanie Vernon

With co-hosts NARPM, we hosted a fantastic webinar on the topic of “Tips for Successful Rent Recovery.” Our presenter (Robert Locke, Real Estate Professional) shared real world examples from his experience of running a successful rent recovery business – we all learned something new!

An interesting highlight from the webinar was that in an audience poll we found that 41% of attendees said that they currently turn over rent collection to traditional collection companies.

During Robert’s presentation he referenced some great resources that can help you with the basics of starting a Rent Recovery Business, here are a few options he suggests:

• RentRecovery.com
• Count Clerk’s Office
• Judges
• Your Attorney
• The Tenant’s Attorney

A few words of wisdom from the Rent Recovery expert when considering starting your own Rent Recovery Business:

“Learn from your mistakes”
“Don’t be afraid – just dive in and learn the rent recovery business just like you did with your property management business.”

Check out the recorded webinar and slides to learn even more.

Video

Slides

Q & A
What legal training is needed to start a Rent Recovery Business?
None. What you know as a property manager is all you need. You’ll learn as you go…much easier then learning property management. I was a property manager and that’s all I needed.

What licenses or legal experience are needed to start a Rent Recovery Business?
Absolutely none. No license. No escrow accounts. No brochures. No offices. No maintenance requests. Just a phone.

How often do clients get an attorney to push back on collection efforts?
One out of 40.

Besides Experian, where would you recommend a landlord to gain credible information regarding eviction, criminal or rent history?
First I’d use Appfolio Property Manager. They can help with tenant screening, reporting and receive information about a renter’s rental payment history. Other options would be The National Tenant Network or NTNOnline.com has lots of experience with good service and good people.