No lender wants to end up owning a property. After all, you’re not in the business of managing people and repairs. You’re in the business of helping people buy. When you get left with a foreclosure or abandoned property, you often wonder what the next step is. You don’t have the resources to take care of what needs to be done to turn that financial hole into a profit, or at least get the money back that you lost on the transaction.
It gets even more difficult if the property requires ongoing upkeep, such as a business unit or a residential rental property that currently has tenants living there. Some lenders try to manage these properties themselves, only to discover complexities in handling the process for which they were unprepared. Learn how having a property manager in an experienced REO services company can help take care of the frustration and get the property sold.
REO Property Management
The right REO Property management and REO services company can take the stress out of having tenants and managing your property. They will have years of experience in managing tenant-occupied spaces, whether residential or business and can fulfill all your obligations to the tenants, while also upgrade and improve the property overall.
The right company can perform services like lead paint abatement, make sure the building is up to code, handle abatement of violations, and provide inspection and reports of the property’s condition. Any issues with the property can be repaired and the property brought back up to spec and code to enhance its marketability.
Tenant Occupied Services
Dealing with tenants is an essential part of property management. Your REO company will handle leasing services, prepare the property to be rented out, and deal with issues related to the current tenants. This means renewal of leases or eviction of poor tenants who are in violation. It can also mean taking care of squatters who illegally occupy a property that you own.
These tenant services can be the trickiest part of managing an REO property. A broad variety of details, complexities and complications can arise, and the legalities of tenant management are very specific. It’s easy to issue an eviction notice, for example — enforcing it is something else entirely. The right tenant occupation services company can take care of these and other problems to ensure that your property stays legal, in good shape and ready to sell.
Expert REO Services
First Freedom Preservation is a different kind of REO services and property management company. Not only do we provide full-service care for your properties, but we provide the best craftsmen and live, real-time updates the whole time we’re working with you. We give all-inclusive bids with no hidden costs, and our budget portal allows you to track where every cent goes. You’ll pay nothing up front, and in return, you’ll get total peace of mind.
From updates, repairs and upgrades to tenant management and eviction services, we can help. For more information on how our REO property management services can help you, get in touch with us today.