The short-term nature of receivership management differs dramatically from traditional investment property management procedures. Under “normal” circumstances, the property manager works closely with owners’ specific goals and objectives. In a receivership situation, the operational decisions are based on short-term priorities, which are set by the receiver using his or her experience and expertise. The receiver’s assignment is to protect the property’s value on behalf of the court while preparing for the possible sale, foreclosure, or redemption of the property in the near future.
Quite often, the property manager will receive only a few days notice before assuming management of a property. HHS&G has the internal experience and systems to be up and running at a moment’s notice.