At Apex Property Management, we understand that unpaid balances after a resident move-out can be stressful. Our goal is to protect your investment and handle every situation with diligence, transparency, and professionalism. We want you to feel confident that every possible step is taken to recover outstanding balances before they become a loss.

🧾 How We Handle a Balance

When a resident moves out leaving a balance, such as unpaid rent, damages, or utility charges, our team will immediately begin our collection process.

We take a proactive and fair approach that includes:

• Direct outreach: We contact the former resident promptly to notify them of the balance owed.
• Follow-up efforts: We complete multiple follow-ups to encourage resolution and maintain a clear record of all communication attempts.
• Payment plan options: If a former resident wishes to pay but is unable to do so in full, we may offer a structured payment plan to support recovery efforts while keeping things manageable for them.
• Collections escalation: If no response, payment, or payment plan is in place within 30 days of completing the deposit reconciliation, we escalate the balance to a professional collections agency to maximize recovery.

Our focus is always to seek a resolution that benefits you as the owner while maintaining professionalism and compliance at every step.

📉 What Is Bad Debt?

Bad debt is a balance owed by a former resident that becomes uncollectible, typically because the resident has filed for bankruptcy. In these cases, collection efforts must stop by law, and the balance is considered a loss.

🏠 Why Does This Matter for You as an Investment Owner?

Initially, when a resident vacates a property with a remaining balance:

• Owner responsibility: Any outstanding balance is the owner’s responsibility until it is recovered. Apex will not cover maintenance, utility, or other balances on behalf of the property owner.
• Reimbursement: Should a former resident ultimately pay the balance, either directly or via collections, you will be reimbursed for those funds.

If a resident files for bankruptcy and a court issues an Order for Relief, that debt can no longer be collected by us or any agency on your behalf. In those cases:

This means: