Property Evaluation

D.A. Rich Company provides property preservation, maintenance, repair, inspection, tenant occupied services, and additional services. We provide these services to commercial, industrial, multi and single-family properties, financial institutions, REITs, commercial real estate developers, receivers, and insurance companies. We understand the unique challenges facing the default services industry and offer comprehensive solutions that streamline the management of assets, providing solutions to the industry’s growing needs.

Property Evaluation

Evaluation services are offered in support of clients at various stages of default management and REO liquidation process. Services include:

Occupancy checks
Review, analyze and obtain BPO evaluations by experienced REO realtors to establish asset values
Property inspections

REO Property Preservation

Our asset managers can support needs anywhere in the country by administering the maintenance and repair of our clients’ REO properties including work on budgeting, bids, and other tasks including:

Boarding/securing the property
Debris removal
Cleaning and janitorial services
Extermination
Winterization
HVAC maintenance
Environmental maintenance
Basic property maintenance such as lawn care and snow removal

Property Evictions

D. A. Rich Company works in conjunction with eviction attorneys, real estate agents, and local authorities to manage eviction processes. Services include:

Rent control management
REO evictions management
Rental lease analysis in accordance with the Tenants in Foreclosure Act
Rental management for tenant occupied REOs
Management of the “cash for keys” process

Property Monitoring

Services include:

Supervision of repairs and maintenance
Overseeing timely payment of all property expenses
Regulation of monthly inspection reports to ensure the property is upheld to client guidelines and local and state regulations
Organization of property inspections with realtors and appraisers
Coordination with attorneys, realtors, auction companies and financial institutions with regard to the sale of the property

Risk Mitigation

Our managers continually review and monitor state and local guidelines on default and REO properties including redemption and confirmation rights. Services include:

Organizing attendance at meetings
Advisement for clients on liability and risk exposure created from properties
Ensuring all vendors and service providers are aware of any changing regulations
Preparation of historical records on all default and REO actions for a comprehensive audit trail

Property Finances

Services include:

Rent and income collection
Production of monthly delinquency reports
Coordination with owner’s attorney on collection matters
Receipt of bills, verification and payment
Preparation of financial statements
Preparation of comprehensive annual budget, if applicable
Assistance with and/or initiation of long-range planning
Coordination of the year-end tax filing and audit with the accountant if applicable

Marketing, Sales and Liquidation

D.A. Rich Company, LLC provides creative solution-oriented REO marketing, sales and liquidation strategies for our clients that yield superior turn times and maximum return of capital. Our goal is to generate cash recovery for our clients as quickly as possible so that their capital investment can be returned. We support a wide range of REO marketing programs, including traditional listings, short sales, auctions and bulk sales. Our asset management professionals manage every step of the sales process, including offer negotiations, closing coordination, disclosures and contract document packages for settlement. We provide complete administration of the closing process.