RECIEVER / TRUSTEE
MFG provides receivership services encompassing the complete oversight, management and disposition of a property. These services include the establishment of new bank and other financial accounts utilized by MFG (as receiver) to collect and process rent proceeds. MFG will also manage and pay property expenses such as the management of all payroll issues. Our team of in-house solution providers execute all of the management and control needs in these situations. Over the past ten years, we have been court-appointed receiver or trustee or property manager in more than 100 properties in the United States.
The financial and management professionals at Miller Frishman Group provide quick and proficient support for businesses and real estate in distress or litigation. Our goal as the receiver is to develop long-term solutions and comprehensive strategies that maximize recovery and value. Allowing Miller Frishman Group to take responsibility of the property can protect the lender from liability, because the receiver is not a representative of the lender.
In a receivership, an independent party is selected by a court or by creditors to receive, manage, preserve and/or dispose of a suffering property or business. Miller Frishman Group aims to not only preserve but increase the value of the distressed assets while under our management.
Miller Frishman Group inspects the property, works with tenants and vendors, reviews records from the owner and management company, and develops improved operational, maintenance and accounting procedures. Receiverships are an opportunity to use an unbiased manager to restructure and improve these processes.