FLAG Property Management

With over 50 years of cumulative experience, FLAG Property Management understands how to take control of your asset, its cash flow and streamline operations to increase your assets value.  We are well-acquainted with the court proceedings involved in the foreclosure process and are able to participate in the legal process, with both clients and attorneys, ensuring that the Order appointing a Receiver is adequate in its scope and authority.  Our goals are simple:  Protect the integrity of the asset and income stream by securing the physical property, accounts, and records; and, establish procedures that protect and preserve the financial flexibility to maintain and create value in the asset during the transition period and beyond.  Our receivership services include:

• Inspecting property for needed improvements and deferred maintenance, with a focus on safety and potential liability concerns;
• Completing all insurance requirements, including needs of courts and lenders;
• Evaluating financial picture and taking control of banking, cash management and other financial elements of the asset;
• Preparing operating budget and streamlining efficiencies;
• Maximizing investment value by leveraging buying power and lowering expenses;
• Supporting all leasing efforts to fill vacancies;
• Stabilizing property operations and vendor contracts/services;
• Ensuring world-class tenant relations and retention;
• Analyzing expenses and stabilizing revenues;
• Developing/implementing a strategic plan, including annual budget and monthly financial reporting;
• Evaluating and creating marketing, advertising and leasing strategies;
• Devising and carrying out an optimal exit strategy; and
• Extensive experience with the Rent Escrow Account Program (REAP).

Coupling our receivership and property management expertise with our keen awareness of both owners’ and tenants’ needs and strong focus on cash flow enhances your leasing success and bottom-line performance – whether in receivership or not. 

Receivership & Asset Management