Property Receiver Services is a bonded, licensed and insured Court Appointed Receiver located in Melbourne Beach that offers a No-Cost Receivership Program throughout the State.
As Receiver, Property Receiver Services rehabs, manages, maintains, secures and rents the vacant delinquent properties at no cost to the COA/HOA. The COA/HOA has no liability or cost and is held harmless. Property Receiver Services pays the COA/HOA 30% of the rent or their monthly assessment, whichever is greater.
Property Receiver Services can include any properties that are delinquent and vacant or renter-occupied, including abandoned; Lender or COA/HOA owned or in foreclosure; and Probate.
Property Receiver Services prepares and files the petition to gain appointment as Receiver, at no cost or effort to the COA/HOA. Once appointed by the Court, Property Receiver Services does a complete inspection, including photos, then creates work orders for the clean-out, repairs, improvements, and replacements, which are reviewed and approved by our Licensed General Contractor. Once the rehab is complete the unit is listed to occupy. Property Receiver Services places vetted and COA/HOA approved individuals into these properties. These individuals are issued an occupancy license, in lieu of a lease, to ensure they comply with all COA/HOA rules and regulations. Property Receiver Services maintains the unit while it is under Receivership and issues quarterly reports to the COA/HOA.
Prior to removing the property from Receivership, Property Receiver Services recovers for the COA/HOA the statutory “Safe Harbor” where applicable or the entire delinquent balance. 100% of what is collected for the COA/HOA is paid to the COA/HOA. Property Receiver Services is paid separately by the First Lien Holder or Purchaser. There is never a cost to the COA/HOA. Property Receiver Services’ properties are often sold at the foreclosure auction to third party purchasers since they have been rehabbed, maintained and occupied, permitting the COA/HOA to collect the entire delinquent balance, versus the “Safe Harbor” collected when the Lender takes back an abandoned unit.
Property Receiver Services has a team with over 39 years of Property Management and General Contracting experience. Managing Partner, Harold B. Klite Truppman, is an attorney with over 29 years of experience, receiving his Juris Doctor, Law from the University of Miami. Additionally, Mr. Truppman also holds an MBA in Business from the same. All vendors are vetted, licensed and insured.
Property Receiver Services reduces COA/HOA debt and liability; beautifies the community by eliminating code violations and maintaining and preserving the homes; improves the community’s economy; increases property and adjacent property values; and ensures the safety of residents, communities, and properties by eliminating infestations and reducing neighborhood crime, vandalism, and unlawful occupation.