Period of Performance: January 2009 to present
ISN – is a client with whom Colonial Property Group has done some work throughout the state of Virginia. The scope of work was primarily through their contract with the US Marshalls. Colonial serviced properties completing janitorial in preparation for sale of properties as well as repairs/maintenance for their tenant occupied properties; replacing hot water heater, repairing issues with the HVAC system, leaking roof repair as well as minor repairs.
Colonial Property Group also completes pre-foreclosure work per investor guidelines for other mortgage field servicing companies performing initial and conveyance services such as lock changes, winterizations, trash/debris removal including hazards, board-ups/window re-glazing, remediation of code violations, if present, capping of gas lines, exposed electrical wires, repair/replacement of sump pump, removal of graffiti, removal of rodents/animals, insects and other pests, appliance cleaning and/or removal, removal and storage of personal property, installation of handrails, if needed, remediating trip hazards, gutter cleaning, removal of carpet and tack strip when needed, recurring services such as grass cutting, bush trimming, pool cleaning, raking, bagging and removal of leaves, etc. Repairs are done to the property if needed for conveyance such as roof repair. Eviction services are also provided and Colonial also acted as a liaison with code enforcers, HOA/POAs, brokers, sheriff’s departments, utility companies and third party contractors such as land surveyors, pest control companies, mold remediation and lead based paint remediation companies.
This list is a summary of the many facets of residential property maintenance work that Colonial Property Group fulfills our contracts with multiple mortgage field servicing companies throughout the state of VA.
A2Z is a HUD contractor with whom we have performed HUD property inspections and system checks (HPIR) in the past. We worked with them in the state of VA and completed over 5,000 initial inspections to determine whether a property was in conveyance condition.
National Field Reps (NFR) – primarily handles property preservation, maintenance, repair and inspections. The scope of work completed for NFR consists of initial services including but not limited to lock changes, winterizations, debris removal, systems check, turning on utilities, hazard removal/abatement, janitorial services, recurring services, eviction services, curing code violation, coordinating with third party vendors for environmental work/inspections, repairs, coordinating cash for keys, etc. All work is completed per investor guidelines with bids submitted to work outside the given guidelines. Colonial Property Group ensures that the properties are in convey condition and the properties that are REO work is performed to ensure they are prepared and in ready to show condition. Inspections are performed bi-monthly as well as janitorial services to refresh and other bi-monthly recurring services are performed(until sold) to ensure property maintains a market ready appearance.
Spectrum Field Services – Colonial Property Group’s work with Spectrum is comprised primarily of REO properties that are inspected to verify condition of property, providing a systems check and what is needed to prepare the property for sale. When property is determined to be vacant, initial services are performed that include lock changes, securing of entire property, winterizations, all debris removed/disposed, janitorial services performed including removal of nails, installing light bulbs, smoke and carbon monoxide detectors, all appliances cleaned inside/out, windows and sills cleaned, fireplaces – wood/ashes removed/cleaned, carpet vacuumed/cleaned if needed/removed if necessary along with tack strip, bushes/trees trimmed, flower beds mulched, leaves raked as well as any environmental abatement or pest/animal removal.
These lists for past/present performance are basic summaries of the many services that Colonial Property Group completes for our clients.
Colonial Property Group is a regional real estate management company with over 26 years of experience placing properties in market ready condition. This management begins with initial property inspections and ends with the property being placed in ready to show condition and is maintained until the property is marketed and sold.
Initial inspection after vacated to acquire baseline condition report and determine whether property meets conveyance condition guidelines
Insurance loss- damage inspection
Environmental inspections – Chinese drywall, lead paint, mold testing, etc.
HUD – Property Inspection Report (HPIR)
QC inspections – after preservation work completed to verify all work done
As per requested – also to verify if in ready to show condition
Coordinate Cash for Keys/relocation on occupied properties
Well and septic systems
Property Preservation and Maintenance services include but not limited to:
Initial secures – lock change
Obtaining baseline property condition report
Trash out – removal of all debris, hazards, etc.
Remove/store personal property
Sales Clean, ready to show condition
Activating utilities – provide systems check
Cap gas lines and exposed electrical wires
Install missing outlet and switch covers
Vacant property registration
Installation/testing of sump pumps
Removal and abatement of safety hazards
Obtain police reports in cases of vandalism Snow removal
Demolition of condemned property
Removal of any animals or bee/wasp hives or insect/rodent infestation
Code violation remediation
Coordinate with code officials to ensure timeline for remediation of violation
Contact with HOA/POA regarding property upkeep/maintenance in accordance with standards
Recurring services are also done on each property including; grass cutting, tree trimming, pool cleaning/maintenance, bi-weekly maid service and ensuring that the property remains free of debris inside and out always in ready to show condition.
Recurring services: grass cutting, tree trimming, pool cleaning, bi-weekly maid service, etc.
Several of Colonial Property Group’s executive team hold Virginia Real Estate licenses and have experience in real estate property management of rental properties as well as management of custodial properties for existing clients. These services include but are not limited to: coordinating routine maintenance and repairs – emergency and non-emergency, vetting of tenants. Colonial has on-line applications for prospective tenants. Collecting of rents, coordinating and setting up utilities, routine quarterly inspections, contract negotiation, property valuations (bpos), and rental market valuation and analysis.
Bank of America
Initial 3 year contract extended 2 more years
Sept. 2009 –March 2013
Our contract with Bank of America was awarded for two states: Virginia and Maryland. We completed in excess of 30,000 inspections per month during the height of the real estate down turn. Our average scorecard reflected over 96% consistently. The inspection work consisted of occupancy inspections for the state of VA along with insurance loss, interviews and specialty inspections.
Colonial Property Group completed an average of 2,000 work orders monthly including recurring services consistently scoring over 95%.
Colonial Property Group was also awarded preservation and maintenance for the state of VA. The scope of work consisted of initial inspections to verify if property met conveyance condition, if additional work was needed to place the property into convey condition beyond the allowables, bids and photos were submitted for approval to complete.
Colonial Property Group completed work per Investor guidelines performing initial and conveyance services such as lock changes, winterizations, trash/debris removal including hazards, board-ups/window re-glazing, remediation of code violations, if present, capping of gas lines, exposed electrical wires, repair/replacement of sump pump, removal of graffiti, removal of rodents/animals, insects and other pests, appliance cleaning and/or removal, removal and storage of personal property, installation of handrails, if needed, remediating trip hazards, gutter cleaning, removal of carpet and tack strip when needed, recurring services such as grass cutting, bush trimming, pool cleaning, raking, bagging and removal of leaves, etc. Repairs were done to the property if needed for conveyance such as roof repair. Eviction services were also provided and Colonial also acted as a liaison with code enforcers, HOA/POAs, brokers, sheriff’s departments, utility companies and third party contractors such as land surveyors, pest control companies, mold remediation and lead based paint remediation companies.
Colonial Property Group was awarded the REO services for the state of Maryland. However, Bank of America Field did not open all 50 states for servicing prior to the sale of their field service division in Q4 2012.
This list is a summary of the many facets of residential property maintenance work that Colonial Property Group fulfilled within the contract with Bank of America Field Services.