Quality of Collection Services Act
The Collection Services Quality Act (Wki) aims to improve the debt collection industry by imposing stricter rules on collection agencies and services. The law focuses on ensuring a professional and transparent debt collection practice, where the interests of both the creditor and the debtor are treated fairly. This applies to all organizations that collect money for third parties, including property managers.
Property managers who collect rents or service charges on behalf of third parties and take collection measures also fall within the scope of the Wki. They are therefore classified as collection service providers and must meet the legal requirements in the areas of professional competence, transparency, complaint handling and codes of conduct. This means that property managers who carry out these activities must register with the Justice and Security Inspectorate and may have to adjust their working methods to meet the requirements.
What does the Quality of Collection Services Act (Wki) entail?
- Registration and certification: This guarantees that the service meets the requirements of the law.
- Ethical and transparent communication: Strict requirements are imposed on communication with debtors. Debt collection services must provide clear information about payment terms, costs and the consequences of non-payment.
- Responsible collection approach: Property managers may only take legal action if this is proportionate. A fair and reasonable resolution should always be sought, with alternative payment arrangements and mediation considered before legal action is taken.
- Maximum costs for collection: The law limits the costs that a collection agency may charge a debtor. This prevents debtors from being burdened with unreasonable costs.
- Integrity and expertise of employees: Employees have a Certificate of Good Conduct (VOG) and follow various training courses to deal with debtors and their circumstances in an ethical, careful and respectful manner.
What does the Quality of Collection Services Act mean for 365 management?
- Compliance and certification: We ensure that our procedures meet the requirements of the law.
- Improved communication: We will further improve communication with tenants who are in arrears. We provide clear information about payment arrangements and collection costs, and ensure that tenants always know where they stand.
- Responsible collection: Our collection strategies will always be in line with the new law, which means that we will first look for other solutions (such as payment arrangements or mediation) before taking legal action. We want to prevent tenants from getting into financial problems due to unjustifiably high costs.
- Cost limits: The new law sets limits on the fees we can charge to defaulting tenants. This is in line with our principles of fair and reasonable costs.
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