Rent Recovery Service

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Rent Recovery Service

Rick BassettBusiness Member
Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes

I am considering using the company Rent Recovery Service for some collections and wanted to get some feedback from others.

According to their website their flat fee service reports to Experian, Equinox and Transunion once action is begun.

I know that collecting from deadbeats is a crap shoot at best but I'm hoping that having a negative event on their credit report might motivate a few to pay or at least offer to settle. 

Any thoughts?

Rick

475-900-3100
Bassett Property Management5108 Reviews
WebsiteView Page
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Mary Young
Atlanta, GA · Member since 2015 · 8 posts · 6 votes
6y

So glad to find this!

I have called many collection agencies, seven, and they do not service landlords?!! One company told me they get 10-15 calls a day from landlord. So I am very surprised there are not a lot of companies would collect for landlords.

Also thinking of using Rent Recovery Services. On another post there is a Yelp review on this company and was not great. Anyone out there has success with Rent Recovery Services or other agencies?

I came across several collection companies mentioned on www.multifamilyinsiders.com and will need to check out if they work with individual landlord -

Landlord Doctor
Rent Recovery Service
Hunter & Warfield - www.huntwar.com
Vista Financial Solutions
Federated collection bureau in Atlanta
Rent collect global

5Reply
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  • Marcia Maynard
    Investor · Vancouver, WA · Member since 2013 · 3k+ posts · 4k+ votes
    10y

    Take it through the regular collection agency route. They will report it to the three bureaus and use their expertise to recover the lost rent and other money owed to you. They get paid (their percentage) and so do you (your percentage) when they get results. I would not pay anyone a flat fee up front for this matter.

    That said, I took a look at the Rent Recovery Service website and I was favorably impressed. Hadn't heard of the flat fee approach before. Might be worth a try with tenants who you think are likely to respond to the letters of a collection agency, over the letters of your own. Thanks for planting the seed. We might try this in the future.

    1Reply
  • Jeff Gates
    Investor · Cathedral City, CA · Member since 2014 · 481 posts · 170 votes
    10y

    Keep us posted. I have the need to know how well this works.

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    10y

    The title is misleading because they don't actually attempt to collect anything for you under the "flat fee" program. All they do is send out an official collection notice to scare the tenant into paying you directly. If the tenant refuses to pay, nothing happens. They aren't reported to the credit reporting agencies, they are not tracked, nobody tries to confiscate assets. You pay for one letter or you pay for three letters and then three months later realize you just wasted a small amount of money. I suspect their success rate is probably somewhere around 1%.

    The "contingency collection" is a standard collection process you would get through any collection agency. However, I do notice they are licensed in all 50 states whereas the agency I am using is unable to touch clients in about six states. But do you know how much they charge for the full service? Neither do I!!! They don't post it on their web site which tells me it is probably a pretty hefty percentage.

    There's nothing wrong with giving them a try and comparing them to whatever you currently use. Collections can be filed without a court judgment but be sure to provide everything you have for supporting documentation (rental application, lease agreement, copy of driver's license, tenant ledger, police reports, pictures, etc.) I also include a cover letter to explain exactly what happened so the collection agency can better present my case if they are ever contacted by the tenant.

    If you try them, please let us know how it works out!

    The DIY Landlord Book4.7248 Reviews
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    1Reply
  • Rick BassettBusiness Member
    OP
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    10y

    @Nathan 

    The flat fee route seems like a pretty good way to get someones attention as for less than $20 they get a letter (no big deal) but get reported to all 3 credit bureaus (a bigger deal for those who care about getting any credit). It also demonstrates that we are serious about turning them over for collection.

    The contingency route, which costs 50% plus court costs if it ever get there, is expensive but for the hard cases where collecting on our own doesn't seem remotely possible it could be a plausible path to collect even a small amount owed or at least to let the deadbeats know that we aren't rolling over without a fight. 

    I've always been a believer that it's better to have 50% of something rather than 100% of nothing.

    I don't know if RRS is a good company or not but their materials are professional as have been their initial interactions with me. 

    Just looking for opinions of others who might've used them in the past.

    Rick

    475-900-3100
    Bassett Property Management5108 Reviews
    WebsiteView Page
    0Reply
  • Virgil T.
    Realtor · San Antonio, TX · Member since 2013 · 9 posts · 5 votes
    10y

    Attempting to revive this thread...I am considering using Rent Recovery Service for a rather large sum owed.  One of my issues is the ability to report the debtor to the three credit bureaus without a judgement.  The debtor's exact location is unknown so serving him may take a lot of time.  For that reason alone I am considering using them.  If anyone has additional experiences with the company I would appreciate it greatly.  A private message or a post here would be great.

    3Reply
  • Patrick Smith
    Investor · Summerfield, NC · Member since 2016 · 11 posts · 5 votes
    8y

    Just wanting to see if anybody has had any luck with using Bent Recovery Service. I've been thinking about it.

    2Reply
  • Gary Abner
    Rental Property Investor · Kitsap county Washington · Member since 2017 · 117 posts · 39 votes
    8y

    Anybody use Rent Recovery Service?   I'm thinking about it.

    0Reply
  • Ray Fisher
    Rental Property Investor · Higginson, AR · Member since 2015 · 123 posts · 101 votes
    8y

    apparently not many used this? I also would be interested in finding more about this.

    0Reply
  • Rich Lopes
    Rental Property Investor · San Jose, CA · Member since 2016 · 114 posts · 54 votes
    8y

    Same here.. In fact I started a new thread yesterday since this post never showed up when I initially search from within BP but it did today when I searched it thru Good old Google :) 

    Perhaps @Joshua D. & team should take a note of this and see how the search can be improved.

    0Reply
  • Lenny Machin
    Property Manager · Miami, FL · Member since 2013 · 21 posts · 3 votes
    8y

    I'm interested also!

    0Reply
  • Elliot O.
    Member since 2017 · 4 posts · 5 votes
    7y

    Never, Never Ever skip the background check... had a prospective give me a song and dance about how they could not complete the background questions due to identity theft years ago and it hasn't cleared up... I'm sure they are nice people and will be good tenants for someone else, not me. Got burned before, not again.

    I just used the rentrecoveryservice dot com (u get it). Not sure how it will work but letters and report to the credit bureaus sound like what I am willing to invest in trying to collect the uncollectable.

    Also, everyone please go through the eviction process... it helps all of us in this landlord thing when we get the background check report. Thanks and happy landlording. 

    2Reply
  • Joseph None
    Beverly Hills, CA · Member since 2011 · 7 posts · 1 vote
    7y

    https://www.yelp.com/biz/rent-recovery-service-gle...

    Looks like they have bad reviews.

    0Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    7y

    I was wondering with these rent recovery service if you later decide you want to go with a Lawyer, or private eye to skip trace, do you just have to cancel the original order?

    Or will their collections take 100% control over the recovery and you can't get out of their contract?

    0Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    7y
    Originally posted by @Marcia Maynard:

    Take it through the regular collection agency route. They will report it to the three bureaus and use their expertise to recover the lost rent and other money owed to you. They get paid (their percentage) and so do you (your percentage) when they get results. I would not pay anyone a flat fee up front for this matter.

    That said, I took a look at the Rent Recovery Service website and I was favorably impressed. Hadn't heard of the flat fee approach before. Might be worth a try with tenants who you think are likely to respond to the letters of a collection agency, over the letters of your own. Thanks for planting the seed. We might try this in the future.

    What are some examples of Collection agencies with good service?  Do you or anyone know any?  And what is the fee structure on lets say $4500 in back rent owed?  We haven't received a judgement just the tenant owed this much in back rent

    1Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    7y
    Originally posted by @Elliot O.:

    Never, Never Ever skip the background check... had a prospective give me a song and dance about how they could not complete the background questions due to identity theft years ago and it hasn't cleared up... I'm sure they are nice people and will be good tenants for someone else, not me. Got burned before, not again.

    I just used the rentrecoveryservice dot com (u get it). Not sure how it will work but letters and report to the credit bureaus sound like what I am willing to invest in trying to collect the uncollectable.

    Also, everyone please go through the eviction process... it helps all of us in this landlord thing when we get the background check report. Thanks and happy landlording. 

     Hey Elliot did you end up using them?  Howd it go? 

    0Reply
  • Elliot O.
    Member since 2017 · 4 posts · 5 votes
    7y

    @Susan O. I did end up using them.  I tried the extra collection letters (3) and the single collection letter (1) ... have not received a dime from the debtors but the accounts have been reported to the credit agencies so I am happy with that (note to self, only use the single collection letter option)...

    I actually received back one of the collection letters due to the debtor not having a forwarding address.  The letter is well formatted and professional.   

    I may end up turning the account over to them for the contingency option... as another posted a percentage of something is  better than 100% of nothing.   

    The user interface is easy to use.  

    2Reply
  • Elliot O.
    Member since 2017 · 4 posts · 5 votes
    7y
    Originally posted by @Susan O.:
    Originally posted by @Elliot O.:

    Never, Never Ever skip the background check... had a prospective give me a song and dance about how they could not complete the background questions due to identity theft years ago and it hasn't cleared up... I'm sure they are nice people and will be good tenants for someone else, not me. Got burned before, not again.

    I just used the rentrecoveryservice dot com (u get it). Not sure how it will work but letters and report to the credit bureaus sound like what I am willing to invest in trying to collect the uncollectable.

    Also, everyone please go through the eviction process... it helps all of us in this landlord thing when we get the background check report. Thanks and happy landlording. 

     Hey Elliot did you end up using them?  Howd it go? 

     see my post a few minutes ago... sorry didn't see this option to reply until just now

    0Reply
  • Sam Hopkins
    OH (ohio) · Member since 2016 · 63 posts · 43 votes
    7y
    @Rick Bassett I just read a post that made a small mention to something I think it awesome. If someone skips and owes you money, forgive their debt and then file a 1099-C, canceled debt, with the IRS for the person. The person now has to claim the amount they owe you as income. If they don’t report it they will get a letter from the IRS. You have to give up any chance of recovery, but that’s so low as least you get a piece of mind.
    4Reply
  • Rick BassettBusiness Member
    OP
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    7y

    Sam, 

    Yes, this an excellent way to get back at a deadbeat debtor. I did this with someone who owed us a substantial amount of money about 15 years ago, this was recommended to us by an IRS Agent. Boy, was he mad at having to pay taxes on debt that he thought that he got away with. 

    Rick

    475-900-3100
    Bassett Property Management5108 Reviews
    WebsiteView Page
    3Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    7y
    Originally posted by @Sam Hopkins:
    @Rick Bassett I just read a post that made a small mention to something I think it awesome. If someone skips and owes you money, forgive their debt and then file a 1099-C, canceled debt, with the IRS for the person. The person now has to claim the amount they owe you as income. If they don’t report it they will get a letter from the IRS. You have to give up any chance of recovery, but that’s so low as least you get a piece of mind.

     Love that Sam I didn't know about that


    I will be doing a 1099 C I hope they don't try to retaliate on me but at least I can get htem back. They owe me $12,000 in back rent and damages.  I got a judgement from one of them and I had to spend $5k fixing it back up

    Also a tenant just skipped out on me for 2 months I think I'll try the rent recovery service just to dock their credit but I doubt they'll ever pay me.

    0Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    7y
    Originally posted by @Elliot O.:

    @Susan O. I did end up using them.  I tried the extra collection letters (3) and the single collection letter (1) ... have not received a dime from the debtors but the accounts have been reported to the credit agencies so I am happy with that (note to self, only use the single collection letter option)...

    I actually received back one of the collection letters due to the debtor not having a forwarding address.  The letter is well formatted and professional.   

    I may end up turning the account over to them for the contingency option... as another posted a percentage of something is  better than 100% of nothing.   

    The user interface is easy to use.  

    So Eliot, if they decide to pay you back what do you do?  Like can you get partial payment then remove them from the credit agency? Would you have to share it with the "rent recovery service" or do you just tell them if the debt has been paid?  I wonder how it ends or like if the tenant finally pays years down the line?

    How long does it stay on their credit agency report that they haven't paid the debt back and it's in 'default'

    0Reply
  • Mary Young
    Atlanta, GA · Member since 2015 · 8 posts · 6 votes
    6y

    So glad to find this!

    I have called many collection agencies, seven, and they do not service landlords?!! One company told me they get 10-15 calls a day from landlord. So I am very surprised there are not a lot of companies would collect for landlords.

    Also thinking of using Rent Recovery Services. On another post there is a Yelp review on this company and was not great. Anyone out there has success with Rent Recovery Services or other agencies?

    I came across several collection companies mentioned on www.multifamilyinsiders.com and will need to check out if they work with individual landlord -

    Landlord Doctor
    Rent Recovery Service
    Hunter & Warfield - www.huntwar.com
    Vista Financial Solutions
    Federated collection bureau in Atlanta
    Rent collect global

    5Reply
  • Susan O.
    Fresno, CA · Member since 2015 · 552 posts · 181 votes
    6y
    Originally posted by @Mary Young:

    So glad to find this!

    I have called many collection agencies, seven, and they do not service landlords?!! One company told me they get 10-15 calls a day from landlord. So I am very surprised there are not a lot of companies would collect for landlords.

    Also thinking of using Rent Recovery Services. On another post there is a Yelp review on this company and was not great. Anyone out there has success with Rent Recovery Services or other agencies?

    I came across several collection companies mentioned on www.multifamilyinsiders.com and will need to check out if they work with individual landlord -

    Landlord Doctor
    Rent Recovery Service
    Hunter & Warfield - www.huntwar.com
    Vista Financial Solutions
    Federated collection bureau in Atlanta
    Rent collect global

     So which of those have you used? Any recommendations of them?  Were you able to collect any debt or does it show on the tenant's credit score?

    0Reply
  • Roberta Eastman
    Rental Property Investor · Orcutt, CA · Member since 2012 · 19 posts · 12 votes
    5y

    Reviving this thread again.   I just submitted an order on Rent Recovery Services, for the 1 collection letter and reporting to the credit bureaus.  This is on a judgement received. 

    The attorney I use cannot do nation wide.   

    I didnt find any other way to report to the bureaus, so went with this. I will also contact a Texas attorney to do wage garnishment  As the person is a VP at a national bank.  My favorite saying:  You never know someone, even if you think you know them!!

    Will report back. Hope this helps...

    1Reply
  • Roshni Patel
    Member since 2022 · 2 posts · 0 votes
    4y

    Any follow ups on this?

    Edit: I just signed up.  With the Flat Fee plan, they send 1 letter, and give the debtor 2 months to reply before submitting to the credit bureaus.

    0Reply
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