b) Standard line items and leave is under client approval required.a) Delegated authority ($2,500 and Life safety ($5,000)).h) Steps contractors must take to perform specific types of repairs.g) Difference between debris and personal property.e) How to determine property vacancy status.b) Federal Housing Administration (FHA).a) Department of Housing and Urban Development (HUD).government agencies you may end up working with include: In order to do this, you should become a Property Preservation Repair Vendor or an REO (real estate owned) Repair Vendor. Another great option is to work as a subcontractor for a company who also works with national servicing companies. Property preservation is also called “mortgage field services,” and getting involved with completing REO rehabs and property preservation repairs directly for national servicing companies will help your business succeed. Property preservation businesses work with banks and asset management companies to provide services such as repair, inspection, insurance claim management, and maintenance. Property preservation is the process of caring for the inside and outside of a foreclosed property, be it vacant or occupied.

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