When you hear the phrase property preservation, you probably instantly think about the preservation of a property because it has historical value or it is a burial ground and so on. The reality, however, is that often property preservation will not reference this whatsoever, it's all about getting a piece of property into shape so that it's in compliance with local and state laws.
Typically, although not all the time, a piece of property reaches this stage because it has been abandoned or it may be foreclosed upon. If this is the truth, the lender that owns the property is in charge of maintaining the property, to a certain degree. There aren't any laws that state a house has to be in pristine state, only that it has to remain safe.
In today's housing market, there are more and more houses which can be standing vacant. As time passes and others realize that a house is vacant, squatters, drug dealers and much more may end up using the house for their own means. When this occurs, the state requires the mortgage company that now owns the house to do something about it.
In many cases, the mortgage company chooses to use a property preservation company to come in and do some cleaning and protect the house against future vandalism and other issues. What this type of organization does is cleanup any broken glass or debris, eliminate everything of worth from the home and then board it up to stop people from getting into the property through windows or unsecured doors.
Something that many individuals don't consider when a home is foreclosed upon is the swimming pool in the back yard. Once a lender forecloses on a homeowner, the lender then will become accountable for anything that happens on the property. In places like Florida, there have been numerous instances where children and grown ups alike have been injured by entering the pool on a piece of property that's been foreclosed.
The issue is, despite the fact that those people were trespassing, the bank is liable for any injuries that occur on the property or home, much like homeowners will be when they were still in ownership. The expectation is that the bank will secure the property, along with the pool, as part of the property preservation. What this suggests is that they will make sure that the pool is unavailable or that it is drained and protected to avoid injuries or death.
A property preservation business can be very successful in this era. After all, there are many houses standing empty in states all over the US, more than any one company could handle on their own.
Property preservation is a crucial process on foreclosed or abandoned property since it can prevent further loss in terms of damages to the home and stop injuries of people that try to go where they really don't belong.