Attention: CMs, AMs and Bookkeepers

We have received several inquiries about balances due from applicants that provided a deposit transaction, but for whatever reason, never moved in.

Collections would like to provide further information about why this happens and what to do when this occurs.

Why Does This Happen?
Having a balance due is usually a result of an application being denied or cancelled by either party.

This typically happens when the applicant paid a deposit before cancelling or getting denied. We then refunded the deposit back to them, as they simultaneously either put a stop pay on the original check or disputed their credit card charge.

What Should I Do?
Because Collections has minimal access to these accounts, it is the property’s responsibility to follow up with the applicant to try and recover the funds.

If you are unable to recover the funds, you may notify Collections at that time and they can write off the balances.

Questions?
Please direct any questions relating to this to coll@essex.com.