RECOVING APARTMENT DEBT
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|Despite rapidly improving multifamily fundamentals, landlords still need help recovering back rent. Rent Recovery Solutions' Saul Wertzer tells us he's seeing a better than 50% jump in debt contracts (an individual former apartment resident with back rent due) from a year ago, and well up from the levels when he first started the company in 2006. That translates into thousands of individual debt collection jobs and is helping his company expand beyond Atlanta into Houston, Dallas, and San Antonio. ?Texas probably has the most potential. It's the best state of all,? he says. ?The economy is better there, but their Class-C properites in Dallas have just as many collections as the C properties here.? Saul, in his Cumberland area office, is a veteran of the collections world, having founded and eventually sold National Credit Systems, another apartment rent debt collection agency.|