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View Full Version : Anyone else doing foreclosures?


HARRIS Property Management
03-05-2011, 09:49 AM
Anyone else out there maintaining foreclosures? We picked up a contract about a year ago. We were not crazy about it in the beginning and you do have to jump through a few hoops to keep them happy but on the overall its pretty standard maintenance. The money was a little less than our normal residentials but the volume has jumped so tremendously that it has actually attributed to about 50 percent of our monthly gross revenue.

nobagger
03-05-2011, 09:57 AM
Anyone else out there maintaining foreclosures? We picked up a contract about a year ago. We were not crazy about it in the beginning and you do have to jump through a few hoops to keep them happy but on the overall its pretty standard maintenance. The money was a little less than our normal residentials but the volume has jumped so tremendously that it has actually attributed to about 50 percent of our monthly gross revenue.

We got a call last year from a prop. maintenance company out of NY and they did everything from mowing to interior work to to what I call cleaning up a "Sanford and Son's" yard. You needed this that and the other for equipment which we have but never heard from them after we submitted the 43 page contract. I'm sure a typical 40 dollar lawn is probably in the high 20's to low 30's and dealing with all the garbage, trash etc.

HARRIS Property Management
03-05-2011, 10:08 AM
We got a call last year from a prop. maintenance company out of NY and they did everything from mowing to interior work to to what I call cleaning up a "Sanford and Son's" yard. You needed this that and the other for equipment which we have but never heard from them after we submitted the 43 page contract. I'm sure a typical 40 dollar lawn is probably in the high 20's to low 30's and dealing with all the garbage, trash etc.

You are right, they do manage it from cleanups to interiors. We opted out of doing those though, we strictly do lawn maintenance and we do go inside once a month and do a quick sweep and mop. They are pretty typical lawns, none are less than 35 bucks a hit. Very good source of revenue in my book. Those alone we have close to 80 properties.

ALC-GregH
03-05-2011, 10:12 AM
Sounds like you're putting all your eggs in one basket. Best be careful.

HARRIS Property Management
03-05-2011, 10:17 AM
Sounds like you're putting all your eggs in one basket. Best be careful.

Good point. We have considered that as well.

nobagger
03-05-2011, 10:20 AM
We don't see too many homes in foreclosure around here. There seems to be a lot for sale but I rarely see an actual "foreclosed" one and we don't get into the crappy part of our city very often but I really don't feel like getting mugged, equipment stolen and dealing with all that.