For Lenders in possession and Receivers, we provide full property management support, right from the delivery of Notices of Attornment of rent, through to assisting with the disposition of the real estate asset.
In today's market, many small investment property owners, not knowing how to deal with the declining rent and collection problems, increasing building operation costs and the constant of relatively high mortgage payments, face a cash flow crisis. This often leads to a vicious downward management spiral.
Cutting back on maintenance costs because of declining or defaulting rents makes marketing much more difficult. Ultimately, the cash flow crunch comes when they themselves default on their mortgage payments.
For the Lender who opts for power of sale proceeding and who decides to become a Lender in possession, we essentially put ourselves in your position as managers. We do all that is necessary to assist you in mitigating your exposure to lawsuits and loss of your mortgage interest in the property.
The ultimate objective is to sell the real estate asset and our experienced team assists by preparing the property to make it as attractive as possible to prospective purchasers. All the while, we manage the tenants and leases, maintain building safety, and focus on value added spending only.
Assess it, arrest it, address it, and dress it. This is what we do to assist you to get it off your troubled account list.