One of the major consequences of the present real-estate clutter is it has increased demand for property management companies. Normally, a bank is in charge for the routine maintenance of properties that are repossessed. Banks and real estate businesses usually delegate these tasks to property preservation companies who ensure that these properties are kept in excellent condition in order that they can be sold at a later time.
Nearly all property management companies have employees that handles all maintenance tasks. They furthermore have a steady supply of supplies that are used to fix up properties. Fixes can range from simple items, such as pain jobs, to more intricate plumbing and electricity jobs. Most banks and real estate firms do no pay for these services in advance though. Instead, they ask to be billed on net 30 to net 40 terms. This means that the property management company is accountable for paying staff members and vendors while waiting around to get paid by the bank. The problem – few business owners can afford to wait.
We have the solution, You might delay paying vendors or maybe you could try and build a cash reserve to cover payments when you wait to get paid. A better remedy may be to get Property Factoring to help cover your obligations. NeeBo Capital property management funding and loans option will get you on track in no time. Our solution that works well for this problem and integrates well with the industry is invoice factoring financing. It provides the equal of a quick payment, getting rid of that 30 day wait to get paid and fixing your cash flow. It works by using an intermediary financing company that stands between your company and your customer. The NeeBo Capital factoring company provides you with an advance against your invoice and then waits to get paid by your customer. Once your customer pays the invoice the transaction is settled and closed.
If you are in the property management business and you are looking for a loan, property Factoring, or funding to meet payroll or cover expenses give our staff a call today!