Property Services
Navigating the property preservation landscape of the mortgage services world can be tricky for inexperienced vendors. But knowing just a few of the common pitfalls of property preservation work can help you stay on a path to success. By avoiding these top eight pitfalls, you’ll be on your way to growing your workload in property preservation—and your business.
Property preservation work can yield a solid revenue stream for service providers who understand how to navigate it. But because property preservation profit margins tend to be thin, finding success and longevity in this line of work requires mastering a few key best practices. Here are six essentials for growing your handyman services business and increasing your returns on property preservation work.
Mortgage servicers have a never-ending list of responsibilities, and one critical item is vacant property registrations (VPRs). VPRs can cause headaches for many servicers, as small fines add up to major penalties. If fines pile up, municipalities may enact liens that could prevent a servicer from selling a property. Plus, registration requirements change frequently, necessitating constant monitoring to ensure compliance.
As Q2 2024 starts, mortgage servicing professionals have used many forums to discuss what’s in store for the industry throughout the year. Events like the MBA Servicing Conference and industry-sponsored webinars have hosted industry professionals to share their perspectives. MCS’s team of mortgage experts share five key items that continue to resonate across the industry.
When you work in property preservation, work orders are the lifeblood of your business—as important as the actual property preservation services you’ll be providing. To help set yourself up for success, it’s important to understand work orders, including what to look for, the common work order types, how to avoid some common mistakes and how to ensure your success in fulfilling work orders.
Even if you’re new to property preservation, you’ve probably already discovered the industry is driven by its own processes and regulations—and even its own language. And learning to speak it is critical to your future success. To help you get started, we’ve compiled a few key terms you’ll need to understand to communicate with confidence.