An investor with a new acquisition of 22 apartments in a tourist complex in Fuerteventura, whose headquarters are in Valladolid and who operates from Valladolid and Madrid, chose to hand over the responsibility to Black Fox Corporation to take an inventory of the asset and to develop a status and needs report, as well as take possession and put the asset into operation.
Our status as a local company facilitates the comprehensive real estate management and the corresponding periodic reporting.
As of the moment we took possession, we set up a team perfectly suited for the project: A lawyer, a security team, a technical architect, and a locksmith intervened as part of the contingency plan.
We analyse the conditions of the real estate and develop the inventory report with an exhaustive photographic record.
In real time, while we were changing the locks, we requested the intervention of a cleaning unit that arrived in the minimum timeframe possible.
The detection of two units of undefined dwellings and two other units with illegal occupants were tackled using two different procedures. The first cases were correctly identified by the lawyer and the chief executive and the lock was changed.
In dwellings with illegal occupants, the act of taking possession was reported, as well as the criminal offences incurred, and coherent alternatives were offered. The illegal use of water and electricity services was detected and action was taken to put an immediate end to it.
During the same day, alarms were installed in the most vulnerable units.
Rapid intervention resulted in:
- exhaustive reporting of units, conditions, services, primary needs, etc.
- within 2 weeks, the property had at its disposal plans with a costs analysis and detailed reporting, with insured possession and availability of 21 flats.
- the dwelling became vacant in one week, and its immediate refurbishment process was started.
- an eviction order was sent to the second dwelling within 14 days as of the taking of possession, and it became vacant in 60 days, following the agreement reached between our detective service and the illegal occupants
- 40-day refurbishment process on 17 units for rental, and development of a suitability report for a long-term rental plan.
- recovery of all the units within 60 days, with capability to do business with them under contract and all of them insured.