Reduce Delinquencies :: Improve Cash Flow
"Adding credit reporting to a self-storage operation should increase operational cash flow, which directly increases the net value of the business."
Scott Zucker of Weissmann Zucker Euster Morochnik & Garber P.C. in "The Positive Impact of Consumer Credit Screening and Reporting in the Self-Storage Industry" - www.insideselfstorage.com
SELF-STORAGE RENTAL PAYMENT REPORTING
For Self-Storage Owners, Operators, and Managers, delinquencies can be a major nuisance. Storage Renters who do not pay their monthly storage fees on time start an endless collection cycle that begins again every thirty days for the unit. This leads to expensive legal fees and countless hours spent chasing money in a very inefficient manner.
Sperlonga is currently working with Equifax, largest of the three credit reporting agencies. Our technology provides management companies the ability to attach the monthly storage unit rent to the renter's credit score, incentivizing on time payments.
By providing an immediate reporting mechanism when payments are due, renters have additional reasons to make their payments on time. Timely storage unit payments will positively impact a renter’s Credit Score and conversely, late payments will negatively impact a renter’s Credit Score.
Increase portfolio value
Less expensive process
Higher credit scores
Build credit faster
Lower your interest rates