P&P: Property Preservation

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Property preservation simply put is the way in which vacant properties are maintained. This is done by cleaning and performing maintenance to make sure that everything is both safe and secure. It is also known as foreclosure cleanup.

Foreclosure properties generally have debris, hazard waste, and garbage. So the property preservation personnel removes it. Additionally, the maintenance work includes maintaining the roof, pipes, and siding. An inspection is completed first and identifies the issues that need to be resolved at the site. Winterization and dewinterization are two critical elements of property preservation.

Winterization- Includes cleaning the toilets, draining all the plumbing, heating systems as well.

Dewinterization- Connect water supply tubes and pipes, turn on the main water supply, open the water heater, boiler, and water softener water values. Also check the exterior hose spigot faucets.

Another aspect of property preservation is REO ( Real Estate Owned) this is a real estate and property preservation term that is used in the United States to describe a specific class of real estate, or property. REO properties are owned by lending organizations such as government loan insurers, government agencies, and banks.

How is income generated from property preservation?

I. Inspections

II. Repair Contractors

III. Maintenance Contractors

Other Ways To Get Into Property Preservation

I. Become a Property Preservation Vendor

II. Start a Property Preservation Business

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