From my experience, it is a waste of time (when I self-managed). That being said, my property managers will turn over back rent to collection agencies, but I can't remember the last time I ever received any money from back rent that was turned over to a collection agency. We might have a lien on someone's home for back rent that was turned over to a collection agency (I had to pay to file the lien) for a thousand or so dollars, but they have to sell their home before I will be paid off.