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Receivership Services

In today’s challenging real estate market, Piper Management Group fully understands the unique and trying situations that your firm may be coming in contact with on a regular basis. With 90 years experience in Property Management, Piper Management Group is proud to be a local, Michigan based company offering extensive receivership services that help maintain an uninterrupted operation of the property, while representing both the plaintiff’s and the defendant’s interest.

  • Maintain an uninterrupted operation of the property by securing, operating, repairing, and preserving the property, while representing both the Plaintiff’s and the Defendant’s interests.
  • Take possession of and collect all monies pertaining to the operation of the Receivership Property and apply such monies to the expenses and debt relating to the Property.
  • Manage property cash flow to satisfy any delinquent accounts and keep current on any bills relating to the operation of the Received Property.
  • To prepare and maintain complete books, records and financial reports of the Receivership Property, including, but not limited to, operating statements, income statements, budgeting, balance statements, and all other statements prepared for the Receivership Property in a form acceptable to both the Plaintiff and Defendant. Statements shall be sent out monthly via electronic format to both Plaintiff and Defendant.
  • Employ, discharge and supervise all employees, leasing agents and contractors considered by the Receiver as necessary for the operation and management of the Received Property.
  • Obtain replacement insurance coverage (if necessary) naming the Defendant as the insured and loss payee and the Plaintiff and Receiver as additional insured’s.
  • Conduct a physical inspection of the property identifying any health or safety concerns that require immediate attention.
  • Engage contractors and skilled trades on a competitive bid basis to complete repairs or tenant improvements to the property and execute such contracts for such purposes the Receiver deems appropriate upon approval.
  • Conduct property tours, provide information and share financial documents (upon approval) with parties interested in purchasing Received Property.