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How to Get Work Orders and Contracts with Property Preservation Companies
The property preservation industry (also known as the foreclosure cleanup industry) has a plethora of subcontracting opportunities available as a direct result of HUD. See how to get contracts and work orders for your real estate service business.
By: Foreclosure Cleanup / Cassandra Black
Real estate service businesses such as REO cleaning companies, lawn maintenance businesses, handyman services, and the like, often seek subcontracting opportunities with larger companies. The property preservation industry (also known as the foreclosure cleanup industry) has a plethora of subcontracting opportunities available as a direct result of HUD.
Real Estate Agents and Appraisers – BPO Work
Also, real estate brokers, realtors, and appraiser professionals who specialize in completing BPOs (or broker price opinions) can benefit from subcontracting with larger property preservation and asset management firms.
REO Applications and the Registration Process
The application and registration process with these larger outfits often starts with an online application. Real estate professionals and REO service companies can visit a property preservation company’
W-9 Forms, Independent Contractor Agreement and Other Documents
The ancillary documents required to complete an application package often include the following: a W-9 form (see the IRS’ website), execution of an independent contractor’
Some companies also require potential independent contractors to complete an industry quiz.
HUD Responsible for Maintenance of Many Homes
Larger companies such as these property preservation companies often get work through a division of the Department of Housing and Urban Development. When these larger entities receive contracts, which often include thousands of properties that span across several states, they seek smaller vendors to help service these homes with initial securing and ongoing maintenance.
Type of Work Property Preservation Companies Provide
The type of work small businesses and real estate professionals who own service enterprises can receive include the following: lawn maintenance work, foreclosure cleaning, debris removal, boarding windows and doors, vehicle removal, pool securing and covering, property inspections, BPO and appraisal work, changing locks, home repairs, putting tarps on damaged roofs, painting, gutter clearing, pressure washing, electric and plumbing work, winterization duties, and similar tasks.
Get Bulk with Larger REO Outfits
It’s not unusual for independent contractors to receive several homes to service on one work order. Vendors must be diligent in setting their prices such that they are in line with what one of these larger entities will pay and also in line with their business’
Where to Find Property Preservation Companies with Vendor Sign-up Applications
To find subcontracting work, vendors can search online for companies and sign up at individual links. It can be time consuming, but the more applications completed, the more work independent contractors will receive. (Most property preservation companies handle properties in several states.)
Potential vendors can also visit HUD’s website and research contract opportunities with these companies.
To find a consolidated list of property preservation companies with direct vendor sign up links, see the 2013-2014 Master List of Property Preservation Companies Directory, 3rd Edition. The annual directory is available via Amazon, http://www.amazon.com/