It’s bad enough when a bank, credit union, mortgage company or other lender gets saddled with a property they never wanted. These foreclosure and abandoned properties, known as REO properties, can be a serious drain on your finances as a business. The problem gets even worse when you discover that tenants live in the building.
In some cases, these tenants are there quite legitimately, in which case you’ll need to manage their lease agreements and keep the building up to code, honoring your responsibilities towards them. In other cases, the tenants aren’t living up to their responsibilities or are there illegally. Evicting them can present a real challenge. Let’s look at how specialized REO eviction services and tenant management can help you keep peace of mind and keep your property in sellable shape.
What Are REO Eviction Services
REO Eviction services, quite simply, are provided by a company that is expert in removing tenants who are no longer legally permitted to occupy a premises. It’s very simple to have your attorney draft an eviction notice and file the paperwork to have it served. Actually enforcing the notice and getting the tenants out is another issue entirely. Many REO property owners are stunned at just how hard it is to force people to leave a place once they set up there.
Eviction Services Companies Know the Law
As a lender, you likely have attorneys in your corner that you count on for many tasks. Eviction services, however, can vary widely from state to state and often require specialized knowledge to use in your favor. You have to follow them by the letter of the law, and an REO Eviction company knows how to make sure it happens.
Dealing With Volatile Situations
Evictions can turn very bad, very fast. Tenants who may be going through tough times or simply get angry and bitter can do damage to the property and can even get violent toward the landlord. An eviction services company knows how to shield you from the potential dangers of removing tenants.
Delivering You Peace of Mind
When all this is put together, it means a much easier time getting rid of squatters or tenants who violate the conditions of their lease. It puts someone in charge of clearing your property who has experience with the laws involved and who can handle the job efficiently and quickly. It means that you’ve got peace of mind in knowing you’ve been shielded from the difficulties and dangers of evicting tenants and that the process will go as smoothly as possible.
Where to Find Tenant Eviction Services
For many years, First Freedom Preservation has provided tenant management and tenant eviction services to the entire DC/Maryland area. We’re ready to step in and help you to make sure that your properties are free from illegal residents and that they’re in great shape, so they can sell quickly and at a high market value. Learn about our services, and get in touch with us for more information or to get started today.