Receivers: Alternative Method to Collecting Delinquent Assessments
A receivership is the court ordered appointment of a rental manager for a property. The receiver (rental manager) should be a disinterested person who manages the rental of the property, collects the rents and disburses the rents according to the court's orders. The receiver should be experienced and knowledgeable in rental property management.
The purposes for utilizing a receivership in the context of delinquent assessments include:
obtain payment of current assessments; reduce past due assessments; and prevent waste and deterioration of the property.
CRITERIA TO BE MET
- Assessments are not current.
- The property is not owner occupied, i.e., vacant or occupied by a tenant...
