Recruiter's Glossary

Examples: Aged Receivables • Preventive Maintenance • Bid Process

Collections

Term from Property Management industry explained for recruiters

Collections refers to the process of gathering and managing rent payments and handling overdue accounts in property management. It's a crucial function that involves tracking payments, communicating with tenants about overdue balances, and following legal procedures to recover unpaid rent. This role requires both customer service skills and knowledge of local rental laws. Similar terms include "accounts receivable" or "rent collection." Property managers use this term to describe all activities related to ensuring timely rent payments and resolving payment issues with tenants.

Examples in Resumes

Managed Collections process for 200+ rental units with 98% on-time payment rate

Reduced overdue Collections by 40% through implementation of new payment reminder system

Supervised Collections and resident payment plans for luxury apartment complex

Typical job title: "Collections Specialists"

Also try searching for:

Collections Manager Property Collections Specialist Accounts Receivable Specialist Collections Coordinator Rent Collections Manager Property Management Collections Collections Administrator

Where to Find Collections Specialists

Professional Organizations

Job Boards

Professional Networks

Example Interview Questions

Senior Level Questions

Q: How would you develop a collections strategy for a large property portfolio with historically high delinquency rates?

Expected Answer: A strong answer should include creating systematic payment tracking, implementing early intervention procedures, developing payment plan options, training staff on communication strategies, and ensuring compliance with local laws while maintaining positive tenant relationships.

Q: How do you handle complex collections situations while maintaining resident satisfaction?

Expected Answer: Should discuss balanced approach between firm collections policies and customer service, including clear communication, documented procedures, payment plan options, and understanding of both business needs and resident circumstances.

Mid Level Questions

Q: What methods do you use to track and manage delinquent accounts?

Expected Answer: Should mention using property management software, maintaining detailed records, following up consistently, and knowledge of proper notice procedures and timelines.

Q: How do you handle difficult conversations with residents about past due rent?

Expected Answer: Should demonstrate professional communication skills, knowledge of company policies, understanding of payment plan options, and ability to maintain professionalism while being firm but fair.

Junior Level Questions

Q: What is the typical collections process for past due rent?

Expected Answer: Should be able to explain basic steps like sending notices, making reminder calls, documenting communication, and escalating to management when needed.

Q: How do you prioritize collection efforts when managing multiple past due accounts?

Expected Answer: Should discuss organizing by amount owed and days past due, following established procedures, and maintaining organized records of collection efforts.