Specialist, Central Collections

Property Name:
Centralized Collections

The Collections Specialist is responsible for ensuring optimal financial performance for a portfolio of properties by managing resident account ledgers, maximizing collections, minimizing bad debt, and maintaining accurate billing practices. The role involves proactive collaboration with onsite team members, diligent follow-up on delinquent accounts, and effective communication with both current and former residents.

Key Responsibilities:

- Collections Management: Actively track, manage, and minimize monthly bad debt to maintain below 2%.
- Conduct timely follow-ups for first payments, delinquent rents, and late fees.
- Engage residents proactively to facilitate timely payments, negotiate and set up payment plans when necessary.

- Account Management: Accurately update and maintain resident ledgers, ensuring proper mapping of charges and fees.
- Audit resident ledgers regularly to verify billing accuracy and compliance.
- Ensure timely and correct collection of security deposits and application of charges.

- Eviction and Debt Recovery: Generate and distribute demand notices and eviction notices in compliance with company policies and legal requirements.
- Coordinate eviction filings and court processes through collaboration with legal counsel.
- Manage accounts sent to debt collection agencies, maintaining communication and updates as needed.

- Financial Move-Out (FMO): Review and approve financial move-outs following Property Manager approval
- Facilitate post move-out collections and resolve outstanding account balances.

- Dispute Resolution: Professionally handle resident disputes regarding charges, billing accuracy, and account balances.
- Investigate and resolve disputes promptly, clearly communicating outcomes and next steps to residents.

- Collaboration and Teamwork: Partner effectively with onsite leasing teams, management, and finance teams to streamline processes and achieve financial objectives.
- Provide training and support to onsite staff on billing and collections best practices.

Performance Metrics:

- Maintain monthly bad debt below 2%.
- Achieve or exceed monthly collections percentage targets.
- Meet or exceed budgeted goals for other income streams.
- Ensure ledger accuracy and compliance with company and legal standards.

Qualifications:

- Experience in multifamily property management or accounts receivable strongly preferred.
- Strong attention to detail and accuracy.
- Excellent communication, negotiation, and conflict resolution skills.
- Ability to prioritize workload, meet deadlines, and effectively collaborate with team members.
- Knowledge of eviction procedures, fair housing regulations, and collections practices preferred.
- Proficiency with property management software (e.g., Yardi, RealPage) highly desirable.