Code Violation Services Launches New Technology for Vacant Property Registrations
As foreclosure rates remain high and vacant properties grow nationwide, states and local communities are enacting difficult ordinances during the registration process for these empty homes.
To help owners of defaulted properties, whether it is a bank, lender, servicer or asset management company, comply with the various code violations that often require upgrades, maintenance and fees in order to register vacant properties, Code Violation Services has launched VPR Plus.
Because the current vacant property registration process requires numerous documents such as notice of default, local property contact, name of bank as trustee, assessor’s parcel number, date of vacancy and foreclosure, proof of corporate entity, proof of liability insurance and foreclosure attorney contact information, this new Web-based portal will help businesses manage compliance and facilitate communication through a single point of contact during the entire registration process.
The platform will allow clients to identify if a registration is required for a specific property address, which support documentation is necessary, whether there are any registration fees and any other appropriate paperwork that needs to be signed. Another feature of the tool is that it can recognize the registration forms and process required for complete vacant property registration compliance.
Rudy Krupka, the CEO of Windsor, Colo.-based Code Violation Services, said the top code violation issue his company encounters when working with code enforcement officials is incorrect vacant property registration ordinances.
“There are literally hundreds of unique municipal compliance ordinances across the United States, and they are growing every day. VPR Plus cuts through all the confusion, providing a single resource for organizations to quickly identify what is needed to comply with local rules for any vacant property, regardless of the specific type of property or its location,” Krupka said. “The result is more clarity, fewer expenses and less stress.”
Clients who use the CVS tool will have complete access to upload orders, view the status of vacant property registration orders, support documentation requirements, registration fees, invoices and approve individual vacant property registration orders.
VPR Plus will also allow clients to determine the status of their vacant property registration throughout the default process from preforeclosure all the way through REO.
The tool processes vacant property registrations and notice of default, transfer of deed and rental property registrations for both residential and commercial units.