Rental Management

Key Aspects of REO Interim Property Management:

Property Preservation:

• This involves securing the property, changing locks, and preventing damage from vandalism or weather.
• It also includes regular maintenance like lawn care, debris removal, and winterization.

Property Maintenance:

• Addressing necessary repairs and renovations to make the property marketable.

Property Inspections:

• Regularly assessing the property's condition to identify and address any issues promptly.
• Providing detailed reports to the lender or asset manager.

Eviction Management:

• Handling the eviction process when necessary, including working with legal authorities.

Marketing and Sales:

• Listing the property, marketing it to potential buyers, and coordinating the sales process.

Vendor Management:

• Selecting and supervising contractors and maintenance crews.
• Negotiating contracts and managing project budgets.

Asset Protection:

• Protecting the asset from further deterioration, and maintaining the assets value.
• In essence, REO interim property management aims to: Protect the lender's investment.-Maintain the property's value.

Prepare the property for sale.