The Department of Housing and Urban Development (HUD) awarded a single-award Indefinite Delivery Contract (IDC) valued up to $50.3M to 24 Asset Management Corp, a minority-owned small business, for field service management (FSM) services covering properties across multiple geographic areas.
The IDC supports HUD's efforts to effectively manage and dispose of its inventory of single-family real estate owned (REO) properties acquired through foreclosure proceedings. Under this contract, 24 Asset Management will provide a range of property management services including inspections, security, repairs, utility payments, ongoing maintenance, and disposition tracking for HUD's REO properties located in Miami, Florida and other regions. The contract has a base period of 12 months with four 12-month option periods, and HUD has issued task orders valued between $4.8M to $10.2M to 24 Asset Management for this work. This contract aligns with HUD's objectives of preserving communities, maintaining property values, and maximizing returns to the Federal Housing Administration's insurance funds by efficiently managing foreclosed homes.
Generated 11/27/24, 9:06 AM