Job Summary:
The Collections Specialist is responsible for communicating with clients to collect rental dues and negotiating financial defaults, in addition to monitoring regular payments, to ensure timely collection of payments.
Duties and Responsibilities:
- Build a database to monitor accounts and identify overdue payments.
- Communicate with clients via phone, email, or in-person visits to determine reasons for delayed payments.
- Negotiate with clients to resolve any issues affecting payments and propose solutions or repayment plans for outstanding amounts.
- Prepare regular reports on collection activities.
- Coordinate with the Accounting Department and relevant departments regarding collected payments and payment receipts.
- Refer delinquent accounts to the Legal Department.
- Maintain accurate records of outstanding payments.
- Communicate with clients to gather information about their accounts and needs.
- Develop and implement collection strategies to increase collection rates.
- Collaborate with other departments in the company to resolve collection-related issues.
- Participate in ongoing training and development to enhance collection skills.
- Generate periodic lists of clients and accounts due for collection from the system.
- Create invoices in the system and share them with clients.
- Issue and send collection notices to clients.
- Respond to client inquiries and provide clarifications regarding amounts to be collected.
- Perform and adhere to other duties or responsibilities related to the role or department as assigned by the Department Manager.
Technical Skills:
- Knowledge of basic accounting principles.
- Understanding of rental laws and regulations.
- Proficiency in using computers and Microsoft Office programs.
- Ability to monitor and track payments.
- Familiarity with customer account details.
- Ability to read and understand contracts and payment terms.
Behavioral Skills:
- Problem-solving and decision-making skills.
- Customer negotiation skills.
- Effective verbal and written communication skills.
- Time management skills.
Qualifications, Experience, and Competencies:
- Education: High school diploma or equivalent.
- Experience: Minimum of 3 years of proven experience in collections.
- Competencies: Strong understanding of collection processes, excellent communication and negotiation skills, and the ability to manage accounts efficiently and follow up on overdue payments
