Property preservation tools

If you are a carpenter, you may also decide to add sheetrock and repair services, for example. The services you choose to offer when you first start your business will depend on what equipment you already have. You may also look at renting equipment for certain jobs before deciding to buy the equipment outright.

This wait-to-purchase period will allow you to do two things. Firstly, you can grow only as fast as you can afford to do, and secondly, it will give you the chance to see which services are the most in demand in your area before you invest money in equipment you may only use a couple of times.

If you have a certain amount of money set aside to start your business, it may be tempting to spend all your budget straight away. Vendors can send data in real-time. Communication with our staff and systems are seamless. Necessary documents are available for property postings, inspection and property repair. Everyone involved in the process can see, in real-time, the status of a project, right down to the photos.

Complete an application. We will gather information about your experience, licenses and insurance. Our onboarding process involves reviewing your licenses and insurance as well as completing a background check. Once onboarding is complete, you will be assigned a work order to see if you are a good fit for our network. An AREMCO representative will work with you during the entire process, from vetting to evaluation of your first work order.

If you have the proven experience in multiple areas, you are more than welcome to cross lines and perform numerous duties.

We are all about your growth! Due to compliance all vendors and employees have to have a background check completed. We have partnered with GoodHire which performs this service for our company in all 50 states. The fees associated with this service varies among states, counties and municipalities. Same day invoicing occurs as long as necessary documentation is provided such as pictures, reports and other supporting documentation needed to close the work order.

We will generate payment for completed jobs within the 21day cycle from completion. Some of the best recommendations in this business can come from word-of-mouth.

When you first start out in the property preservation business, you should only take the jobs you can handle with limited personnel, doing them well and rapidly to make a name for yourself. As your business grows, and word-of-mouth or marketing does its job, you may want to take on larger jobs. To do this, you may have to:. Google search property preservation in your states or counties and find out what the most-needed services are; gear your business toward those particular services and banks will be knocking on your door to give you business for their foreclosed properties.

Make sense? Bidding on jobs is an excellent way to get more business. The best way to do this is to:. HUD handles property preservation for properties that have been foreclosed on and will soon be foreclosed on — they also handle the property inspections, renovation permit, and access restrictions that they will pass on to you if you work with them. Always keep in mind while you are performing your work that part of your job is to make the properties look attractive to prospective buyers once the bank or management company is ready to resell them.

There is also a registration fee that property preservation companies must pay on each property they want to care for — this fee may be reimbursed if the company owner completes the proper forms and submits them to HUD. Next, you need to meet at the property with your contractors if you have them and determine which repairs are necessary, and that the property can sit without much maintenance for a long period of time.

Preparation for inclement weather is a large part of this step. Some inclement weather that may occur during the property foreclosure and resale process includes:. You may also want to read this recent HUD Mortgagee Letter from ; it includes more information that you might need to perform property preservation for the U.

When you start a business, you want it to succeed, so it should be one of the most important things in your life. Complete the work the way you were asked to, and take photos or write down issues you have for proof later. Remember, your clients need you, and your business will provide years of stability if you run it correctly.

I hope this information has given you a basic overview of the property preservation industry and what your role or the role of your new business will be within it.

This is an excellent business to be in, and can help you become an independent business owner, while making a great living. So I think this can be a great add on. Just not sure if I qualify.

No high school diploma etc. What else do I need to have to qualify? If you start a PP business and you have employees under you, do those employees need to be certified also? Very good information i want to start this kind of business but i have know idea where to start or where to get the capital should i apply for a small business loan what is the cost for starting this business? Thank you for your insight.

I am interested in this industry and would truly enjoy the opportunity to become more thorough in the application of this soon to be learned knowledge.

All I ask for is to become a successful business. With regards, K. Is it normal practice to subcontract with established handyman entities and use the price sheet modified to offer payment to them? My brother just started hiS Property Preservation business like literally.

Ensure that you check the sump pump is fully operational as part of your maintenance services. The Mortgagee should pay the bill and may claim reimbursement for utility costs covering the period from the date of vacancy until the end of the billing cycle that includes the date of conveyance.

A copy of the notice should be maintained in the claim review file. Domestic water: Unless an ongoing water supply is required, the local water supply company should be contacted, the water supply should be shut off, and a final meter reading should be arranged.

No waterlines or meters should be removed because this may incur a fee from the water utility company. These pre-approved limits include the cost of installation. The pressure tank itself should be fully drained. If it is surface mounted, the pump housing should be drained. If it is submersible, the valve should be disconnected, and all pump, suction, and piping equipment should be fully drained.

The purpose of this is to prevent backflow and protect the water supply from being contaminated. If the property has an RPZ in place, contact the local authority for specific instructions as to the regulations pertaining to the installation and use of these devices. If you are operating in a jurisdiction in which winterization is required, you will need to winterize the property between October 1st and Match 31st.

In the event that the property does need to be rewinterized for some reason, you will need to obtain prior approval. Winterization should include all of the following:. Dry Heat Systems: Drain all hot water heaters and piping to prevent frozen water from causing damage. Ensure that you keep valves and faucets open throughout the process and that you close them once the draining process is complete.

Place a suitable amount of antifreeze in all fixtures and in tanks and cisterns. Make sure all radiators are open throughout the process and do not remove any bleeder pins from the radiators. All pipes that supply the radiators should be drained and an air compressor should be used to fill them with air. Place a suitable amount of antifreeze in all radiator pipes. Steam Heat Systems: Complete the draining and preventative measures as per those used for dry heat systems.

Be careful to verify whether the heating system is hot water or steam heated in advance. A telltale sign is that steam heat systems will incorporate valves at the bottom of the radiator.

If you think there may be a problem with the heating system, report this to the AMC. As part of the winterization process, you should check that the system is working and that there are no leaks. To do this, use an air compressor to pressurize the system to 53 pounds and inspect for leaks. The general rule of thumb is that the system should be capable of holding the air pressure without leakage for at least 30 minutes. However, heat will remain in shut down mode.

Utilities are to remain off unless required to operate a sump pump. Florida The water supply should be shut off at the curb. Notify utility companies to cancel all services.

Do not drain the water heater or water lines. Do not winterize. Colorado Winterization is required from September 1 through April Heat is to remain on in condominiums and town-homes. However, the heat system will remain in shut down mode. Utilities and heat are to remain on. Wisconsin Winterization is required from September 1 through April Turn water off at meter in house ONLY.