No matter how you screen, unfortunately someday a tenant will trash your property. So what now? Here’s the best way to handle this sticky situation.
Sourced through Scoop.it from: www.biggerpockets.com
What to do when tenants owe more than their deposit will cover?Send It to Collections!
Collection agencies are designed to pursue individuals for their past-due payments. They use a variety of techniques to get this money, including tracking down the tenant and calling them repeatedly until the debt has been paid. These collection accounts also show on the credit report – for future background checks. Many landlords will not rent to a tenant who owes money on a rental.