Aged Receivables
Aged Receivables refers to the money that tenants or property clients owe but haven't paid yet, organized by how long the payment is overdue. This system helps property managers track late rent payments or other fees, usually grouping them into categories like 30, 60, or 90 days overdue. It's an important part of property management because it helps identify which tenants are falling behind on payments and how serious the situation is. Some people also call this "Accounts Receivable Aging" or "AR Aging." Property managers use this information to decide when to send payment reminders, assess late fees, or take more serious actions like starting the eviction process.
Examples in Resumes
Managed Aged Receivables for a 200-unit apartment complex, reducing overdue payments by 40%
Created monthly Accounts Receivable Aging reports for property owner meetings
Implemented new collection procedures that decreased AR Aging by 60% within 6 months
Typical job title: "Property Management Accountants"
Also try searching for:
Where to Find Property Management Accountants
Professional Organizations
Online Communities
Job Resources
Example Interview Questions
Senior Level Questions
Q: How would you handle a situation where aged receivables have increased significantly across multiple properties?
Expected Answer: A strong answer should include developing a comprehensive action plan, analyzing patterns in late payments, implementing new collection procedures, and working with property managers to address underlying issues. Should also mention reporting to ownership and suggesting policy changes if needed.
Q: What reporting systems have you used to track and manage aged receivables?
Expected Answer: Should discuss experience with property management software, creating custom reports, tracking key metrics, and using data to make decisions. Should also mention experience presenting financial information to property owners and management.
Mid Level Questions
Q: Describe your process for following up on overdue payments.
Expected Answer: Should outline a clear timeline for different stages of collection, from friendly reminders to formal notices, and demonstrate understanding of legal requirements and best practices for payment collection.
Q: How do you prioritize which past due accounts to address first?
Expected Answer: Should explain factors like amount owed, length of delinquency, payment history, and lease terms. Should also mention importance of consistent and fair treatment of all tenants.
Junior Level Questions
Q: What is an aged receivables report and what information does it contain?
Expected Answer: Should explain that it shows unpaid tenant balances grouped by time periods (30/60/90 days), and helps track how long payments are overdue. Should mention basic components like tenant names, amounts, and due dates.
Q: How would you handle a tenant who disputes a late fee?
Expected Answer: Should demonstrate understanding of checking payment records, lease terms, and company policies. Should emphasize professional communication and documentation of all interactions.
Experience Level Indicators
Junior (0-2 years)
- Basic bookkeeping and accounting principles
- Using property management software
- Processing rent payments
- Creating basic financial reports
Mid (2-5 years)
- Managing collection processes
- Analyzing payment trends
- Handling tenant payment disputes
- Coordinating with legal teams on collections
Senior (5+ years)
- Developing collection strategies
- Training staff on receivables management
- Creating financial policies
- Managing large property portfolios
Red Flags to Watch For
- No experience with property management software
- Lack of understanding of fair housing laws
- Poor communication skills
- No knowledge of basic accounting principles
