HELP WANTED: List of Property Preservation Companies with Which to Register Your Foreclosure Cleanup Business for Jobs
Many smaller foreclosure cleanup businesses get work from property preservation companies. Here is a key list of companies with which to register your business for foreclosure cleanup jobs.
Many smaller foreclosure cleanup businesses get work from property preservation companies. The foreclosure cleanup industry is on the rise, as is evident in foreclosure industry reporting data from sources like RealtyTrac, an online marketplace for foreclosures. According to RealtyTrac, 3,825,637 foreclosure filings were reported in 2010 on U.S. properties. That’s an increase of 23% from the year 2008.
Foreclosure cleanup companies handle the clearing out, cleaning up and ongoing interior and exterior maintenance of homes that have been foreclosed upon by banks and mortgage companies. Services offered by foreclosure cleaning companies can include a wide spectrum of services, well beyond cleaning. Services offered by these businesses include cleaning, debris removal, painting, minor repairs, lawn maintenance, applying tarps to roofs and full roof repairs, pressure washing, gutter cleaning, one-time and ongoing inspections, vehicle removal, tree cutting, winterization, lock changing, window and door boarding, and more.
Establish Your Business First
Many smaller foreclosure cleanup companies get work from property preservation companies. While there are a plethora of property preservation companies in existence, it can be a time-consuming process signing up with all of these entities. The best way to start getting work is to establish your business with the proper license, insurance, and equipment.
License: Often a business occupational license from your county’s County Clerk Office is what is needed. Each county is unique, so call your government office that handles business licensing in your county to find out what type of license you will need based on the services you choose to offer.
Insurance: Next, contact a local insurance agency and discuss your business so you can best determine the type of coverage your company will need. At minimum, you will need liability insurance coverage. Also plan to discuss securing workmen’s compensation insurance and the appropriate coverage for your vehicle.
Equipment: There are a few routes you can take when it comes to getting equipment for your business. You can either a) purchase equipment, b) rent equipment, or c) use the equipment you already have on hand in your garage or basement to start your business. Plan equipment based on the services you plan to offer in your business.
NOTE: If you niche your services, or offer one-stop shop services based on subcontracting or referring out services, you will need limited equipment to start. However, if you choose to become a one-stop shop and do everything yourself, you will need more equipment. Keep this in mind as you plan your business and equipment needs.
After you have properly researched the industry, planned your business and marketing strategies, secured proper license and insurance, and have your equipment needs in order, it will be time to start signing up for work.
The best way to start is to register your business with larger property preservation companies. Below is a list of five large property preservation companies. Contact them for their vendor packets and start signing up your company so you’re part of their databases.
List of Five Top Property Preservation Companies
2. Cyprexx Services: Cyprexx is a national field services business that provides property preservation, inspection, repair and maintenance services to some of the largest financial organizations, government institutions, asset management corporations, and brokers in the U.S. (Website: www DOT cyprexx DOT com)
3. Five Brothers: This company has been in business for more than 40 years providing property preservation, inspection, and REO management-related services. (Website: www DOT fivebrms DOT com)
4. Field Asset Services, Inc.: Field Asset Services is an REO asset management servicing and property preservation company responsible for more than 7.3 billion dollars in residences on behalf of almost 30 major nationwide clients. They regularly care for 120,000 plus properties. (Website: www DOT fieldassets DOT com)
5. Lenders Asset Management Corp. (“LAMCO”): LAMCO has been in existence since 1989 providing residential REO asset management and outsourcing solutions for national lending institutions, banks, servicers, and investment firms. (Website: www DOT lendersreo DOT com)
Be Prepared for Property Preservation Tests
When you register your foreclosure cleanup business with these large property preservation companies, be prepared to show proof of insurance, business registration, and quite possibly be prepared to take a property preservation quiz. Most of these quizzes are straight-forward tests that simply judge your comprehension of basic industry terms and tasks. Much of the test information is quickly available online — if you don’t already know it.
Foreclosure Cleanup Jobs for Years to Come
Remember, once you get registered with these companies and your credentials check out, these larger entities can provide your company with bulk foreclosure cleaning work for years to come.
Much success registering your foreclosure cleanup business with these companies for field asset services and foreclosure cleanup jobs!
For a larger list of property preservation companies with which to register for foreclosure cleanup work (with direct vendor job links), see the Property Preservation & Real Estate Industry Contracting and Subcontracting Directory.