How to report money owed to landlord to credit bureau

2 Replies

Hi all, 

If tenant moves out but owes money to Landlord. Is there any way we can report it to the credit bureau as a company without filing at small claim court. 

I heard someone said it's possible but I don; know how  to do it. Any help would be appreciated. 

Thanks.

Yes.  You can use a company like AOA Debt Reporting or Rent Recovery Service that report the debt to the three major credit bureaus, and you don't even need a judgment to do it.  Maybe some day your ex-tenant will want to pay the debt off to have it removed from their credit report, but another benefit is that it warns other landlords (at least the ones who bother to run a credit report) that they left owing you money.

You don't need any of that. You can file a claim with a collection agency and they will report it to the credit reporting agencies. You do not need a judgment to file a claim.

I recommend checking with other investors or property managers in your area to see who they use for collections. The typical collection agency sucks and collects on about 20 - 25% of all claims and then they take 30 - 40% of what they collect as their fee. But at least it puts it on the Tenant's credit report and you may eventually get something, which is better than nothing.