Receivership Services

Receivership Services have been a strength of Heritage Property Management Services for decades. Our experienced management team combines receivership, property management, and disposition services under one roof, providing a comprehensive approach to properties involved in foreclosure, financial distress, or other court-directed situations.

As a court-appointed receiver, Heritage can take responsibility for the day-to-day operation and preservation of property. We work closely with lenders, attorneys, and other involved parties to help protect property values and minimize further loss. Our focus is to maintain, stabilize, and improve the condition and operation of properties throughout the receivership process.

Heritage provides the experience and resources necessary to oversee all aspects of property operations. Our services may include collecting rents, communicating with tenants, hiring and coordinating vendors, overseeing maintenance and repairs, marketing and leasing the property, maintaining detailed financial records, and providing reports as directed by the court. If appropriate, Heritage can also assist with the disposition or liquidation of property assets, including brokering the sale of real estate.

Our Receivership Services Include

• Conducting a comprehensive physical inspection of the property and preparing an overall assessment of current conditions, including the identification of any immediate safety or emergency concerns.
• Notifying and communicating with tenants and providing appropriate contact information and emergency numbers.
• Notifying creditors and other required parties of the receivership, as directed by the court.
• Providing written reports regarding property conditions and operations as required or directed by the court.
• Performing routine property inspections and providing timely reports regarding conditions, concerns, and recommendations.
• Collecting rental income, paying approved invoices and expenses, and providing monthly financial statements detailing income, expenses, and rent rolls.
• Hiring, coordinating, and overseeing vendors for maintenance, repairs, and other necessary property services.
• Marketing and leasing property to help maintain occupancy and preserve income.
• Maintaining detailed financial and operational records throughout the receivership.
• Assisting with the sale or disposition of real estate and other assets when liquidation or disposition is determined to be the appropriate course of action by the court.
• Overseeing the distribution of proceeds from liquidation or disposition as directed by the court.

With decades of experience in property management and receivership services, Heritage Property Management Services offers the personnel, resources, financial expertise, and hands-on management necessary to effectively manage complex properties and challenging situations. Our goal is to protect and preserve the value of the property while providing professional, responsive management throughout the receivership process.