OMAHA, NE — Once a little-known industry, the cleaning of foreclosed residences has exploded as the recession forced millions of homeowners to lose their houses, according to The World-Herald.
Although there aren't readily available statistics, several owners of Omaha metro property preservation companies, which are also known as cleanup companies or "trash-out" crews, said new competition seems to pop up every day and they're as busy as ever, the article stated.
"It's one of those things that's like, 'Yay, I got a lot of work. But, that means somebody lost their house,'" said Todd Robinson, owner of Robinson Enterprises in Papillion.
According to the article, while the bank is the one that takes direct control of a foreclosed building, someone else is generally responsible for checking those properties for vacancy, securing them, inspecting for hazards, changing the locks, boarding windows if necessary, maintaining the landscaping, removing snow, winterizing pipes and cleaning out trash and debris.
For the most part, banks or the U.S. Department of Housing and Urban Development (HUD), which acquires foreclosed properties insured by the Federal Housing Administration, will contract with asset management firms who then link with local vendors and act as the lenders' foot soldiers on the ground, the article noted.
Click here to read the complete article.