What type of business is property preservation?
Property preservation is the process of caring for the inside and outside of a foreclosed property, be it vacant or occupied. Property preservation businesses work with banks and asset management companies to provide services such as repair, inspection, insurance claim management, and maintenance.
How do I become a property preservation repair vendor?
Establish your property preservation company
- Seek certification by taking courses or programs with learning institutions.
- Inform yourself about government guidelines.
- Approach major banks and apply with the REO department.
- Develop a preservation contract.
How do I get a property preservation contract?
Contacting the Real Estate Owned department of lenders in your area is a good way to find property preservation jobs. If a bank has already hired someone for their property preservation needs, you can request that they place you on a waiting list for future opportunities.
What is property preservation and how to get started?
Property preservation is also called “mortgage field services,” and getting involved with completing REO rehabs and property preservation repairs directly for national servicing companies will help your business succeed. Another great option is to work as a subcontractor for a company who also works with national servicing companies.
Who are the biggest players in the property preservation business?
The common attribute that lumps these properties together in the REO category is that they were obtained through foreclosure actions by a government agency, a bank, an asset management company or a government insurance agency. The following list details the government’s biggest players in the property preservation business –
What’s the difference between foreclosure cleanup and property preservation?
The main thing to know is foreclosure cleaning and foreclosure cleanup generally refer to smaller entities while property preservation generally refers to larger entities. What is REO?
What kind of jobs are there for property preservation?
Typical property preservation maintenance jobs include boarding up broken windows, winterizing properties, trash outs (which involves the removal of debris), maid services (basic cleaning), and lawn maintenance (grass cutting and weed control).