Property preservation companies clean and repair foreclosure properties for banks and asset management companies. Maintaining vacant homes that people have left abandoned is a need that is currently being filled at record rates. There is currently a shortage of these companies, and many people would be wise to take note and begin offering services of their own.
It’s often an easy job that encompasses a wide array of tasks, that many people can handle on their own. Of course, a background in home repair is often a requirement that helps, but definitely not needed. Cleaning companies are always going to be in demand. With the foreclosure rates at all time highs, banks are in desperate need for these homes to be taken care of. This is an area that they must resort to outsourcing to companies and individuals that can handle what needs to be done.
Getting into the property preservation market isn’t as complicated as it sounds. Just like any other business you want to start, you’ll need to create it, and get your business license. Once you have the basic business set up, you’ll want to look into getting some type of liability insurance. There have been reported cases of people fixing homes, and things happening that caused damage they were unaware of. For example, if you are assigned the task of cleaning up a home and repairing some things, and the water heater blows up, you may be held responsible. All businesses require some sort of insurance, and property preservation is no different.
Once you have your property preservation business set up and ready to go, it is time to start looking for contracts to work. You will want to register your business with all the banks and reo asset management companies out there. You can easily Google these terms, and find the necessary places to file your business with. You want your business to placed on their preferred property preservation vendor list. Once you have done this, you should begin seeing an influx of contracts appearing in no time.
The process works like this. You’ll see contracts for homes near your current location. You read it over, and see what needs to be done. You then have the opportunity to bid on the contract. If they like your rate, you’ll usually become selected to perform the job.
Marketing your property preservation business is something you’re going to need to do to become successful. One of the tricks many businesses use to get more jobs is through real estate agents. If you can become acquainted with an Reo agent, one who lists foreclosures, you can find contracts through them more effectively. These are often the best jobs with the higher rates of pay. You can’t rely on simply posting your business out there with no marketing behind it. If you want to grow your business into something that can sustain your lifestyle, you need to put some time and effort into it all.
There are many free resources across the Internet that can help you grow your property preservation business. You should spend the time and energy researching the industry, and finding all the websites to list your business at. By putting your name out there, you’ll be sure to receive many more contract opportunities, and get into contact with the companies hiring for the jobs you’re in search for. By making the right connections, you are setting yourself up for the success you deserve. Take advantage today while this golden opportunity continues to present itself to you.
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