Reporting to credit

LADYLIFT1

Does anyone report unpaid to credit agencies?

ESS

We don't, but sometimes I really wish we did. I tell tenants that we do though. I've even been known to tell some that I will add them to the statewide Do Not Rent List - Wish that existed. 

MamaDuke7

According to Jeffrey Greenberger, self storage attorney, storage debt is not a reportable debt as far as the credit agencies are concerned.

lhill

I work for a larger operator in the US and we do report to credit agencies. When we made that switch, our collections efforts became far more effective. I could give you numbers but you wouldn't believe them.

teamcapitola

Back when we were with Management companies, they always taught to send any remaining balances (after an auction) to a collections company. In fact our internal policy is any outstanding balance above $200 is sent to collections once an account is closed.

There is no "trade line" for self storage debt, so prompt payment/ late payments cannot be reported to the major agencies (like you would see on credit card or loan payments); The issue has been that credit reporting agencies appear not willing to treat self storage rent debt the same as they would a credit card late payment.

However, you can certainly send the debt to a collection agency, which can then take steps to collect any outstanding debt owed on your behalf, which would then appear on a credit report as an unpaid debt or judgement (if taken to court).

So yes, you can report storage debt to credit agencies... in a round a bout way.