CASHFLOW
BAAAAD DEBT
DELINQUENTS
BEST PRACTICES
Misc...
100
Name at least 3 charges that are included in Bad Debt on your Cash Flow
Unpaid Rent / Unpaid Fees / Unpaid Cleaning Charges / Unpaid Damage Charges
100
What percentage of the bad debt does the collection company take?
40%
100
How many days in advance must the Sec 8 offices by notified of a rental increase?
You must notify the HA 60+ days in advance in order to avoid a possible 1-2 month forfeiture of the increase.
100
Name at least 3 things that should be done from a collection standpoint when rent becomes due
OCN should be sent out on the 1rst / Rent Due signs posted at the entrance and exits of the property /Calling delinquent residents / Texting / Emailing / Door Knocking
100
True or False: You can continue to contact the emergency contacts after the resident has moved out in an effort to collect Bad Debt
TRUE - Remember to not give out personal balance information
200
What are the categories for the 2% club?
Gold, Silver, Platinum, Diamond
200
How long do the properties have to collect bad debt before turning it over to collections?
90 Days
200
True or False: Should you accept a payment agreement if a resident has been sent to collection
FALSE - You must refer them to the collection agency
200
Name 3 outside resources that you can give to residents as a way of coming up with rent money
Churches / Payday Loan Centers / Family & Friends / Credit Cards
200
What % of the balance will we settle for if paid in full before going to collections?
100% Question for discussion - Should there be a standard settlement percentage on a district level?
300
What is the calculation used for the line item End Delinquency?
Difference between last month's delinquency and current month (shooting for a positive number!)
300
What report in Onesite can you pull to look at who owes "in house" and who is in collection?
Collection Status Report
300
Given Florida and Georgia's new lease break option, how do you code this in OS and where does it hit the Cash Flow?
The Code is GA-FL Term Fee This will hit Other Income on your Cash Flow keeping this out of your Bad Debt!
300
How much of the balance is required to enter into a PTP? And what is the last day for payment on an agreement?
1/2 Down. The 15th
300
True or False: Your manger did not send the HA a notice of rent increase 60 days in advance. The HA has approved your increase, but will not pay it until 2 months after the renewal resulting in a loss of $200. You can charge the tenant for the $200 and then begin collecting it from the HA on the approved date.
False. You can't collect any RENT from the voucher holder other than that listed on their contract.
400
What is the formula for the 2% club?
Current Delinquency / Bad Debt Written Off, Income Collection, fees
400
What report can you pull to see what was written off / collected?
Transaction detail by code
400
If a current resident is under eviction, and a partial payment is left in the drop box. What should the staff do?
Call the Supervisor if any payment is received after filing. Many factors will weigh into this decision. Can you name a few?
400
What steps do you follow when a new move in has more than one past due electric bill and the bill is not in their name?
Send Electric Start Letter and a Past Due Balance Notice - Tip: Your leasing agents should be calling the utility companies at the lease signing table or requiring a receipt
400
What report do you pull to make sure that all of your deposits have been paid?
Resident Deposit Audit
500
What report/reports can you pull to back-out sub balances of Sec 8 voucher residents to project for the 2% club?
Resident Summary Balance Report
500
On the Transition Detail by Code Report, what codes are used for Bad Debt and Collections?
PV & PZ
500
You receive a portion change letter from the HA on Feb 15, 2016. The tenant portion is going from $580 to $720, and the Sec 8 portion is going from $320 to $180. The change will be retroactively effective Oct 1, 2015. Both the HA and the Tenant have been paying their full portions of $580 and $320 since move in including Feb 2016. Sec 8 has a zero balance as of this letter and the tenant has a balance of $25 for an unpaid late fee. Who will you collect from after the change is made? How much will you need to collect?
5 mos. x $140 = $700 tenant owes + $25 late fees = $725
500
Can you name 2 specific outside resources for tenants to go for rent money for one of the properties in your district. Or a specific name of a contact that has worked for you in your district?
Any SPECFIC name or agency will be correct
500
What line item do damages and cleaning income reflect on the cash flow?
Maint. Damage Income
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