Top 3 Rent Problems and How to Address Them

If you’re a landlord or a property manager, you’re no stranger to the ups and downs of the industry. And no matter how hard you try, unpredictable problems arise that leave even the experienced property managers scratching their heads. From dealing with late or non-payments, hard-headed renters destroying your property, and running after outstanding rent from previous tenants, these issues are often challenging, demanding more than just a band-aid solution. Fortunately, these problems are not unsolvable. Here are some common rent problems and a guide on how you can address them.


Late or Missed Rent Payments

One of the most frustrating parts of the job as a property manager is chasing down rent payments. Late or missed payments are often signs of deeper issues; your tenants may be dealing with unexpected financial challenges or even forgetfulness. Often times, there is a lack of motivation to pay on time, knowing that there are only minimal consequences.


Lack of Tenant Accountability

Managing a property is more than just making sure the rent is paid on time. Ideally, you want your renters to take their rental obligations as seriously as you take your role: you want them to preserve the property and adhere strictly to the lease terms. Unfortunately, it’s not always the case. Despite the clear terms laid out, some tenants may still display a lack of responsibility, leaving landlords and property managers dealing with the aftermath.


Post-move-out Debt

Saying goodbye to a renter can sometimes feel like a breath of fresh air, especially after a love-hate relationship. But what if they leave behind a trail of unpaid rent and utility bills? This creates an entirely new set of challenges. Running after a tenant’s debt who has already moved out can be an exhausting process, often requiring costly legal actions.


Fortunately, these issues can be addressed holistically by reporting rent payments to the credit bureaus, and it is a game-changer for property managers and landlords.


Rent payment reporting can significantly reduce late payments. When tenants know that their rent payments are reported and can affect their credit score, they are far more likely to prioritize paying their rent on time. When they pay on time, they get to build their credit report or boost their scores. When it comes to resolving post-move-out debts, rent payment reporting comes in handy as well. Did you know that the Fair Credit Reporting Act (FCRA) allows landlords and property managers to report previous renters’ unpaid balances for up to 6 years and 9 months from the original delinquency date? If you can’t reach them, this will surely catch their attention and convince them to finally settle what you are owed.


Reporting rent payments to the credit bureaus through Sperlonga Data and Analytics serves as a proactive way of securing consistent rent payments. The best part is, this is mutually beneficial. By enrolling your properties, you’re protecting your income stream, promoting a more responsible rental community, and rewarding tenants for timely payments.


Leverage rent payment reporting to turn these recurring problems into opportunities for mutual growth. If you want to learn more, reach out to [email protected] or visit this link to schedule a free consultation.