AI Debt Collection
Colleen brings the ONLY AI Solution for debt collection automation in the real estate industry. Colleen approach past residents that left unpaid balance.
Colleen is Part of the Team
Analyze All Past Residents
According to NMHC study*, about 5% of residents in the Multifamily industry will never pay their rent, meaning they will lose their rented home and some will go through eviction process.
The moment Colleen AI gets credentials to your management system it analyze all the past residents and their financial behavior while they where residents in your property. This allows Colleen to understand who to communicate with and how to approach each and every one of them.
Approach Past Residents with Outstanding Balances
Colleen collaborates with all types of past residents who have outstanding debts, utilizing emails and text messages as communication channels. With each property and resident, Colleen strategically determines the optimal timing, frequency, and content of the messages.
Compared to the outdated and ineffective methods of contacting debtors through telephone conversations or letters months after the resident has left, Colleen offers a more efficient approach.
Past tenant
Past Resident
Converse with Past Residents
Colleen knows how to hold a conversation with any past tenant and knows how to answer any question relevant to the payment of their debt. The answers it provides is based on the experience of millions of interactions in the past.
If necessary, Colleen pulls the final account statement from the management software and explains how the debt is structured.
Maximize the collection
In certain situations, it is often preferable to reach a compromise in order to recover a portion of the debt left by a resident, rather than engaging in a lengthy and costly legal process. Initially, Colleen will make every effort to collect the full amount of the debt. However, if that proves challenging, she will work with the past resident to negotiate an agreement for a lower amount. The specific terms of such agreements will be determined by each manager.
Colleen strives to resolve outstanding debts without resorting to legal actions, which benefits the tenant by avoiding the need for a legal process and potential harm to their reputation and ability to secure alternative housing.
Transparency and full control
Colleen provides an advanced interface that allows full viewing and management of all collection activities related to past residents.
Colleen can present to the past tenant the property management software payment link / tenant app.
Colleen can collect the debt by provides a secure payment link* view many payment options** as well as in installments.
* Payments are powered by Stripe
** ACH, Money orders, Cash app, Credit card, Debit card and more
Colleen Can Send to a 3rd Party Collection agency
Colleen is not a debt collection agency!
Colleen actively assists the office team in collecting the debts left behind by tenants. Typically, Colleen takes the primary responsibility for debt collection on behalf of the managers for a duration of three months.
If Colleen’s efforts are not fruitful within this timeframe, the treatment of the debt is then handed over to either our collection agency partners or the management company, based on their preferred course of action.
