Purpose (Why we do it):
In 2018, Horizon launched an internal collection department with a sole goal to maximize our bad debt collection. The database used for this is called Pay Ready (previously Debt Logic). Knowledge of this database & its processes will help you communicate more effectively to past residents with balances & increase overall efficiency of collections.
Policy (What you're supposed to do):
Here are the general steps for account integration:
- When the residents move out of their apartment homes, their move out is processed in Entrata.
- Once the final move-out inspection is completed, the charges are added to the account and the FMO is processed.
- After the completion of the FMO, the account is automatically marked “in collection” over night which triggers the integration with Pay Ready. This process takes 24-48 hours.
- The account is activated in Pay Ready, and the resident is sent login information with a payment link.
- Residents are sent payment reminders via email and phone for 45 days. They receive their final collection notice on the 44th day so they can pay by the 45th day.
Please keep the following in mind:
If the resident is interested in a payment plan or needs help logging in, please immediately refer them to the debt recovery team via hrarecovery@horizonra.com
The account is not actually transferred until the FMO is completed. If the inspection is not completed and the charges are not fully added, the account will not be at Pay Ready. If residents inquire about their balance during this period, please let them know that they will be notified when the account is closed.
Once the account is transferred to Pay Ready, you will still have access to their ledger, final account statement, final inspection pictures, etc. If the resident calls/comes in to discuss the final charges, feel free to access these resources and answer their questions.
Procedure (HRA Way!):
Please refer to Pay Ready (previously Debt Logic)- Corporate Managed for more information
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