Distressed Property and Receiver Work-outs

DISTRESSED PROPERTY AND RECEIVER WORK-OUTS:

Fairman & Associates, Inc., when given a court award, can quickly secure and stabilize real property of any size to insure that further deterioration does not take place in either physical property or income streams.

OUR SERVICES:

  • Property Management
  • Financial Management and Reporting
  • Project and Construction management
  • Repairs and Maintenance
  • Asset Disposition

PROPERTY MANAGEMENT:

The property and tenants are visited weekly. Lease administration (including tenant retention and lease renewals), rent collection, property maintenance, and property expense control are a main focus. We can provide a marketing plan to assure that maximum market rents are achieved with tenants that are prequalified.

New leases, with the courts approval, are coordinated to ensure that all parties are kept up to date with the latest timelines for any new lease commencement.

FINANCIAL MANAGEMENT & REPORTING:

Financial management services include: annual operating budget development, annual CAM reconciliations, customized monthly reporting, preparation and analysis of monthly budget comparison and variance reports, monthly rent roll, monthly receivables, aging report, monthly rent statements, expense reconciliation, and cash management.

Fairman & Associates, Inc. compiles a monthly manager’s report to keep the court and all parties advised of the performance of the property. This report consists of detailed tenant activity, maintenance summaries, expense explanation, and comprehensive financial reporting.

PROJECT AND CONSTRUCTION MANAGEMENT:

Services range from fitting out individual tenant spaces to complete renovation, redevelopment and expansion. Fairman & Associates, Inc. will coordinate with contractors, architect, tenants and local government agencies to ensure the project is completed on time and on budget.

REPAIRS AND MAINTENANCE:

Our team of licensed and insured repair and maintenance technicians have the resources and technical skills to address nearly all repair and maintenance needs. All work orders are recorded and tracked through a computerized system. Maintenance services include: responding to tenant service calls, and preparing of  preventive maintenance programs and hurricane/storm preparation programs. Fairman & Associates is on call for all emergencies 24/7.

ASSET  DISPOSITION:

After a property is settled in the courts, the party that receives the property for final disposition can be assured that the asset will be turned over in a condition that will allow for the highest and best return of the investment.



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