Blanket Receivership for HOAs and COAs

Evolution Residential has partnered with American Group Advisors (http://www.aga-us.net/) to provide condominium owner associations (COAs) and home owner associations (HOAs) with Blanket Receivership services. 

Blanket receiverships can help an association bring all delinquent home or condo owners current on their association dues in 6-8 months.  Evolution / AGA assists associations in navigating the legal process of obtaining the receivership from the court.  Once appointed , Evolution / AGA becomes the manager of the delinquent units, collecting rents and insuring that the association is paid its fees.  Only after the assocation has become current are owners then paid from the rent collected in their units.

Evolution / AGA, the receiver, is paid from the rent it collects of the units and reports all collections and payments monthly to the court and association.  The receivership poses no cost to the association.  Also, the blanket receivership in no way interferes with the ongoing activities of a building's existing management company.  Once the blanket receivership has achieved its goal of bringing the association current, Evolution / AGA ends the receivership and turns the units back over to their respective owners.

Evolution / AGA has expertise in the three critical areas: 

• Receivership and Reporting: Russell Jacob (www.rsjpa.com) has extensive experience in real estate law Building Management: American Group Advisors (http://www.aga-us.net/) has experience developing, constructing and managing over 10,000 multi-family of all qualities.  AGA also acts as receiver for bank-owned properties in South Florida
• Leasing: Evolution Residential (www.evolutionresidential.com) has experience with $500 million of residential and commercial leasing and sales

Please contact Jonathan Oleinick, principal, Evolution Residential at 305-672-6011 or jo@evolutionv.com for more information.