HOA and Utility Services
MCS offers our clients many benefits with our Homeowners Association (HOA) and utility services. From reviewing and negotiating bills on behalf of our clients, our close relationships with utility providers and our centralized database that allows for real time tracking and reporting; MCS has the tools to provide these services effectively with the quality our clients expect.
Utility Activation and Deactivation
MCS will facilitate all utility-related functions for each REO property serviced. MCS will coordinate with local utility providers and municipalities to manage the activation, ongoing service, and deactivation for each utility service that is necessary for each property. MCS will review utility-related expenses and will submit invoices, including related supporting documentation and MCS fees, to the client for payment.
MCS notifies utility companies of our client’s ownership of properties and requests final bills from each utility provider. In the case that our clients are required to maintain utility services per investor regulations or to prevent damage to a property, we instruct the utility companies to have the service transferred to our client’s name. MCS determines and promptly advises our clients if there are any outstanding balances on their utility bills that may result in a lien being placed against the property that would hinder conveyance by the client.
MCS provides our clients with documentation supporting outstanding utility company bills and we provide certification to our clients to ensure compliance with HUD ML-2013-18.
Utility Payment Processing
MCS will process utility reimbursements to agents/brokers on behalf of the client for utility expenses related to properties serviced by MCS. Agents/brokers will submit documentation, including invoices and proof of payment, to MCS for their utility expenses related to the activation, ongoing service, and deactivation of all necessary utility services for each REO property. MCS will review the utility documentation to ensure that reimbursements to agents/brokers are properly supported and will reimburse agents/brokers timely. MCS will submit invoices to the client based on reimbursements paid to agents/brokers and the related MCS fees.
MCS performs utility research on behalf of our clients that does not result in a utility action.
If a client’s property is subject to HOA assessments, MCS identifies and notifies the HOA of our client’s ownership of the property and will request all final or recurring invoices for assessments. We provide our clients with these documents and consult with them on how to address. When paid, we will provide proof of payment to clients as well as certification to ensure compliance with HUD ML-2013-18.
HOA Research and Information
MCS researches the property and will provide the name and contact information for applicable HOA to our clients.
HOA Payment Processing
MCS processes HOA bills and pays for them on behalf of our clients.
Is Your Property Spring Ready?
Spring is here! Is your property ready? After the harsh winter, proper maintenance is vital to safeguard, maintain, and enhance the value of your property long-term. Use this checklist to ensure that your property is refreshed for spring.