BECP is prepared to provide the services as Receiver that are required by law and in the executed Court Order. The services generally needed, but not limited to, are detailed below:
Court Liaison
- Communicate with Court as necessary and submit periodic accounting and financial records as required
- Submit Final accounting at time of discharge
- Facilitate a smooth transition of the property to the new manager upon termination of the receivership
Billing and Collecting of Rents, Paying of Expenses
- Bill and collect rents pursuant to the leases at the property
- Use collection efforts to collect all rents due
- Review status of leases to ensure compliance
- Pay the property expenses in a timely manner to avoid any interruption of service
Tenant Liaison
- Maintain and promote a positive and professional relationship with the tenants of the property during the Receivership
Property Management
- Provide or procure the necessary services to protect the value of the real estate and as may be required by the court.
- Provide or procure all the necessary services to physically maintain the asset, and provide the services required of the landlord in the leases
- Serve as liaison between the court and the property team
Leasing Services
- BECP can coordinate and execute the leasing with the assistance of an appropriate leasing broker partner
- BECP can execute the sale of a receivership asset if that is the goal, by partnering with the appropriate Capital Markets broker
Posting of Bond
- Prepared to post any reasonable bond required by Court