Chase Outstanding Rent
From Standout Property Manager Wiki Help
Chase Outstanding Rent
Use this workflow when tenancy financials show unpaid/overdue rent and you need to contact the tenant with a clear record of what is outstanding.
Before chasing
Check the tenancy/payment record first. Make sure the balance is genuinely overdue and that any recent payment, credit or agreed arrangement has been recorded.
Review the agreement
The arrears screen shows the agreement, property, landlord, tenant and the relevant financial transactions.
Focus on the individual overdue transactions and how long they have been overdue rather than only the total balance.
Select the transactions to chase
Choose the outstanding items to include. This allows the resulting communication to explain exactly what is being requested.
Prepare the communication
Standout can prepare an email or Word document using the selected transactions. Review the subject/body before sending.
Where using a document, options can include agency details, tenant/address, today's date and staff details.
Send/record the chase
Send the email or produce the letter according to agency procedure. If the tenant agrees a payment date or arrangement, record the conversation and create a task for the agreed follow-up date.
After payment
Make sure the payment is recorded/reconciled in the tenancy financials. Do not leave an arrears task open after the balance has been resolved.
Escalation
Standout records the arrears and communication workflow, but legal/escalation decisions should follow your agency's approved process.