The Maintenance Exchange will create thousands of local jobs, each of them easily accessible from mobile or computer. Professional maintenance workers all over the U.S. will have access to a previously difficult to reach market, and as a result will build their businesses and reputations with a click of the mouse. Meanwhile, tenants and property owners or managers will no longer have to wait for important fixes on their homes.
Our 100% fully automated repair, rehab and Maintenance Exchange system integrates the property owner, tenant and maintenance professional. This is a game-changing development.
The need for a Maintenance Exchange
We have sites like Ebay, Amazon, Craigslist, etc… which facilitate a global market for goods. The result has been lower prices, greater selection, and faster turn-around times. Right now in the United States, there are tens of millions of homes which are underserved. Every home has its repair challenges, meanwhile for many contractors it is difficult to find enough work to fill their day. We intend to apply the economics of scale and the latest technology to this problem. Currently millions of dollars are being lost by all parties, but we believe we can fill that need. By using our platform, millions of dollars every year will be saved by home owners, and contractors will be able to add additional income to their business.
In addition, consider the following:
•Banks own millions of houses and currently have no systems in place to maintain them.
•Hedge funds own more the 200,000 residential homes today (an unprecedented market) and a large percentage of these homes are still in “vacant status” because they have not been repaired.
•A large percentage (over 40%) of homes that were built in the 90's are in desperate need of upgrades.
•The market is large and underserved. The U.S. Commerce Department estimated that 374,000 brand-new homes were sold in the country last year. Resale of existing homes in the same period totaled 5.1 million, according to the National Association of Realtors.
Market Research
We have gone out and surveyed 100s of resources across the country in many different states and they all say the same thing, the real estate rental market is out of control and no way to make all the necessary repairs timely enough to get the properties in rentable condition and that a service like this would be the solution to the problem for all land owners alike no matter how big or small they may be!!
In addition, consider the following:
• Today the Largest Financial Institutions (Blackstone, Colony Capital, American Homes for Rent, Etc.) own over 500,000 homes combined across the United States
• Whether the single-family rental market grows from “a $10 to $20 billion market" to a "$100 to $200 billion market” will depend on how successfully institutional investors are able to execute over the next few years. It’s a speculator feeding frenzy featuring some of Wall Street’s biggest names all plunging into the shark pool at the same time.
• 70% of all homes bought by the financial institutions stand in a vacant status due to the lack of there capability to get them remodeled and into renal condition!
• 75% of all homes that were built in the 90s and before have not had any upgrades to the physical structure. This makes up 60% of the entire United States housing market!
• 10% of all REOs in the country are listed by their owners? This includes mortgage giants Fannie Mae and Freddie Mac, as well as the Federal Housing Administration. This means that the 90% percent left will include short sales (that need repairs), and foreclosures (that also need repairs).
• Another fact: In short, there is a considerable amount of work that is needed foreign and domestically. and the losses for banks and mortgage holders of bad notes waiting to sell are in the 10s of millions of dollars of losses monthly.
RediRepair is the solution.