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REO Property Preservation Services

property preservation services

At Brooklyn NYBPO, our clients rely on our property preservation services to help them prevent the declining conditions of their properties while working to quickly restore the property to a marketable condition.

We work with the best servicers throughout the five boroughs: Brooklyn, the Bronx, Staten Island, Queens, and Manhattan to ensure your properties are preserved and maintained in a manner that complies with the regulatory guidelines for the loan type as well as any code compliance legislation for your area.  We work with our vendors to secure the property, remove any debris, conduct regular lawn maintenance, and winterize when necessary.  We share a common goal of getting a property into conveyance condition.

Conveyance Condition Management

Brooklyn NYBPO will ensure that all work required by the regulatory guidelines for each loan type is complete and that the property is in conveyance condition. If any work is needed to bring the property into conveyance condition and can be completed per the published investor guidelines, the services will be completed in conjunction with this work order. If the work cannot be completed per the published investor guidelines, an estimate will be provided to bring the property into conveyance condition.

Initial Secure

This property preservation service authorizes Brooklyn NYBPO to perform required services based on the applicable investor guidelines and/or client requirements. For loan types with no applicable regulatory guidelines, the HUD guidelines will be followed. Services typically include changing an entry lock, locking all windows and doors, winterizing to the applicable specifications, and maintaining the exterior grounds, when in season.

Winterization

This property preservation service authorizes Brooklyn NYBPO to winterize the plumbing at each property to prevent freeze damage, according to the investor requirements for each loan type.

Lock Change

Brooklyn NYBPO will change the lock(s) at each property to the key code according to the regulatory requirements and/or client requirements. For loan types with no applicable regulatory guidelines, the HUD guidelines will be followed. No additional property preservation will be completed in conjunction with this work order type, unless otherwise specifically requested.

Also, Our Property Preservation Services Include Nut Are Not Limited To

  • Initial inspection
  • Initial secure
  • Evictions
  • Photo documentation
  • Personal property removal
  • Repairs
  • Initial grass cuts and re-cuts
  • Systems checks
  • Vehicle removal
  • Initial janitorial service and ongoing maid service
  • Board ups

Our Property Preservation Process

We will secure and adequately protect vacant and abandoned properties throughout default, foreclosure, and conveyance by offering a multitude of services and abiding by the appropriate client preservation guidelines as required. Also, we will monitor and maintain property conditions utilizing inspection results and information from our field staff as well as our partner contractors to prevent declining conditions.

Our team communicates with code enforcement offices as necessary to address and correct issued or pending violations on properties managed for our clients with an overall goal of mitigating code violations completely.

Our goal at Brooklyn NYBPO is to help you maximize your property values, boost asset returns while saving you time and lowering your administrative costs. Regardless of your portfolio size, our team is ready to discuss how to assist you with your asset management needs.

Get the best execution on your properties with our full-service REO asset management services and capabilities. Our network of real estate professionals and service providers has the tools, knowledge expertise to help you take advantage of single-family residential homes and rental market opportunities, and minimize losses on REO. Contact us today for more information.

Want to learn more about how we can aggressively protect your properties with our services?

Please contact us for a no-obligation Personal Consultation today. 

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