The ownership transfers and foreclosure documents that go unedited by management can cause loss of revenue and potential legal problems if not discovered. REDS property monitoring system ensures fees are collected and potential problems are avoided by not having accurate and up to date property data.
The basic facts:
- Deeds are recorded that transfer ownership without management company knowledge.
- No property goes into or out of foreclosure without our knowledge. All foreclosure related documents are tracked by REDS
- Percentages range from 5% to as high as 68% and occur across the country.
- Some are discovered later and some are not. Our monitoring system informs you of these transfers daily.
- Collecting full or partial ownership transfer fees generates REVENUE.
- The expense of locating or tracking down these owners is reduced if not eliminated by having the service.
- Catching new owners early can also help to reduce delinquencies from past owners.
- Having unauthorized board members and voters at board meetings is eliminated.
- Legal issues are prevented by ensuring your staff does not provide sensitive property information to the wrong individuals.