Power Over Tenant's Credit
Power Over Tenants Credit
What is the service?
This new service connects you to the major credit bureaus so you have POWER OVER TENANTS' CREDIT to promote timely rent, clean up outstanding balances, collect post move-out balances and make money every month as you implement it.
Now YOU can have a relationship with the big credit bureaus and be able to mark tenants' credit (good or bad) substantially improving your performance as a manager and MAKE MONEY EVERY MONTH in the process.
Why does it work?
Americans are hooked on credit. Their lifestyles are defined by how much they can leverage their future income to borrow for homes, cars, cell phones, etc. The result is, they pay bills on time that can affect their credit and let the orthodontist, utilities and lawn care providers wait until they have extra money. The mortgage gets paid first, but too often landlords get paid later in the month because (other than filing an eviction) we have no power over the tenant's credit. UNTIL NOW.
What are the benefits to the property manager?
With this POWER OVER TENANTS' CREDIT you will enjoy the following benefits.
1. You can reward tenants for their timely rent payments. You become the good landlord that wants to help tenants with the next phase of their lives by IMPROVING THEIR CREDIT SCORE EVERY MONTH with this service.
2. You can motivate late payers by reminding them that you must report to the bureau if they don't pay their rent, gently reminding them that you have power over their credit.
3. You can collect on outstanding balances they don't want to pay because with this new service you must report unpaid balances to the bureau lowering their credit score and making it harder for them to buy a home or car.
4. You can collect outstanding balances AFTER MOVE OUT when you've lost the ability to evict them over those nagging unpaid balances. THIS IS WHERE THE BIG MONEY IS. (Note: This part of the service is a specialty of Crown; NOT CredHub)
5. You can MAKE MONEY EVERY MONTH (starting immediately) while you are implementing and administering the process.
6. You'll have a competitive advantage over managers that don't have this POWER OVER TENANTS. Owners love to hear you have the ability to report to the credit bureaus when tenants don't pay as agreed. This gives you POWER OVER TENANTS that other managers don't have.
7. It's all automated and takes 15 to 20 minutes a month to administer. Once it's set up, it's easy to administrate.
As Crown Management we had this POWER OVER TENANTS for 30 years managing rentals in Atlanta as direct members of the credit bureau EQUIFAX. We know this space. This membership gave us massive power over the tenant's credit and motivated them to PAY AS AGREED or watch their credit score drop every month. You can't become a direct member today (unless you're a mortgage company or other large financial institution) but back in the day, small operators could join and have all the privileges of membership. The advent of the tenant screening services eliminated the ability as a small property manager to become a direct member and report tenants payment history. UNTIL NOW.
CAUTION: BE CAREFUL SHARING THIS IDEA WITH COLLEAGUES AS IT WILL DILUTE THE COMPETITIVE ADVANTAGE THIS GIVES YOU IN THE MARKET.
Want to get down in the weeds and see HOW it works? Complete this questionnaire and the details will be sent to you immediately.