Turn Move-Out Training

Purpose (Why we do this):

As the financial move-out statements are closed on site level, they are transferred to Pay Ready (previously Debt Logic)/Corporate Collections. Our goal is to create a steady flow of transferred accounts as opposed to an influx close to Accounting Month End (AME).

Policy (What you're supposed to do):

Refund deadlines vary by state. These deadlines determine how many days you have to complete all FMOs.

• Texas: 30 days
• Florida: 30 days
• Oregon: 31 days
• California: 21 days
• Indiana: 45 days
• North Carolina: 30 days
• Washington: 30 days

For states that allow 30 or more days, the FMOs must be completed prior to AME. For 2019, August 28th falls on a Wednesday & September 28th falls on a Saturday. Please check with your accountant on exact closing dates.

We understand that turn can be an incredibly busy time. We urge you to create a schedule that best fits your need. 

Here is a hypothetical example:

• Number of move-outs: 500
• State requirement: 30 days, but remember AME! 28 days
• Accounts to be closed every week: 500 / 4 weeks = 125 per week
• Accounts to be closed every day: 125 / 5 days = 25 per day

Account/Property Managers can alter this schedule to match property deadlines as needed. As accounts are transferred to Pay Ready & past residents receive payment reminders, the call/inquiries regarding precious accounts increase as well.

Adhering to this schedule will prevent an influx of calls/inquiries & therefore help us better manage bad debt.

Procedure (HRA Way!):

• Training Video