TVO North America is a real estate services company. We own and/or manage thousands of residential units, millions of square feet of industrial warehouse and medical office buildings across the United States. Over the years, we have created hundreds of millions of dollars in added value for our investors due to renovation programs and our ability to execute the fundamentals of property management: RENT, COLLECT and RETAIN.

TVO North America offers a full range of services to our residents, tenants and investors. We understand our industry and the markets in which we operate and work diligently to maximize returns for our investors.

Receivership Management

TVO and its affiliates provide receivership services when appointed by the Court to temporarily take control of income producing real estate and thereby receive the rent, pay the operating and all other expenses and perform such other functions as the Court instructs or may be approved by the Court.

Once TVO’s affiliate is appointed as receiver, TVO will inspect the property. After advising the on-site staff and notifying the tenants and vendors, TVO will obtain and review records from the owner and lender as made available. Operational, maintenance and accounting procedures are quickly put into place and an inventory of the property will be filed with the Court.

Monthly financial statements and operating reports are submitted to the Court and appropriate parties. At the conclusion of the Receivership, a final accounting is submitted to the Court and other appropriate parties.

Objectives:

• Objective #1: Immediately identify and rectify all life safety issues.


• Objective #2: Secure the physical asset, inventory, and receivables to protect the integrity of the asset and income stream.


• Objective #3: Establish property management services and procedures that protect and preserve the asset.


• Objective #4: Maximize collection of receivables.


• Objective #5: Prepare the property for the best possible sales price when and if desired.
• Objective #6: Assess current property management and other contractual relationships and recommend changes.

Services Outline:

• Install the Property Management Services team to ensure structure and provide confidence to the tenants and others.


• Fiduciary of the Court with full accounting responsibility for all income and expenses.


• Reports tailored to the needs of the Court and all secured creditors.


• Authorization, audit, control, and payment of payables.


• Satisfy all institutional requirements.


• Full review of all contractual services.


• Work with municipalities to address any building or other code violations.


• Construction and renovation experience to assist the lender in repairing deferred maintenance and addressing life safety issues.


• Oversee any necessary capital improvements to help reposition the asset for a future sale when and if desired.


• Potential continued property management services to the new property owner after the receivership period to continue the delivery of improving cash flow.

Return to our website soon for an updated Receivership Brochure.