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As millions of homes are being closed down due to foreclosure, banks and financial institutions need vendors who can cleanup and maintain the properties for them. This business is otherwise termed property preservation. Under the stress of current financial positions, over three million houses have been foreclosed. Property preservation is a pretty easy business to start with. The initial requirements would be general liability insurance, a business license and a drivers license. You can then sign up with a bank as an independent contractor by submitting a W9 form duly signed. The contract amount would vary from $900 to $10000 per property depending on various factors. Property preservation vendors can easily service anywhere between 20 to 300 homes each month.

In order to help maintain your investment, finding a well qualified tenant is only the beginning. Next, you need to make sure that your property is maintained whether your current tenant will live there one year or 10 years. During the lease signing, it is imperative that you make the tenant aware of inspections. As the landlord, you can dictate how often an inspection will occur. Whatever you decide, remember, you have to give at least 48 hours notice, and the inspection time (ex. between 8am and 5pm) must be specified. You cannot just show up one day and do what is called a surprise inspection unless you feel something unlawful is occurring, and law enforcement is present with you.

Depending on the reports of the inspection, vendors may sometimes have to handle eviction of the inhabitants. Eviction should be done with the collaboration of the Sheriffs department and all the personal belongings of the family should be removed from the premises and placed on the nearest public street. Municipal local codes should be strictly followed and preferably under the instructions and guidance of an Eviction lawyer. The eviction process should begin with a 3-30 day notice depending on the agreement existing between the habitants and the bank or financial institution involved. Once the time period lapses, the bank (through the vendors) can contest a case in court and seek eviction orders. After winning the case and receiving the eviction orders, a representative from the bank should meet the Marshall or Sheriff on the property and with the help of the vendor start the eviction process.

As any property owner can attest to, the damages that can be done to your property can add up very quickly, and well beyond what any one month security deposit will cover. With a complete inspection of the property before hand, your property preservation company can not only prepare accurate damage estimates for you, but in most cases, they are able to repair any damage for you and possibly restore your property to its original condition.

You properties are valuable and the costs of not protecting them far exceed the cost of making sure that your investments are protected. A qualified property preservation company can take over all of the work that goes into maintaining and protecting your property. Whether your needs are simple lawn maintenance, eviction support services, damage estimates or anything in between, professional property preservation companies can be there for you to protect your investment when you can not be.