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The Receiver Group (TRG) understands that being a tenant in a receivership property is a bit different from a typical rental property. If you are a current tenant or are planning to be a tenant of TRG, please know that we will do everything in our power to make sure your tenancy is seamless, stress-free and as normal as possible. Please read the following Q’s and A’s:

What is a Receiver?  

  • A Receiver is an officer of the court, appointed by a Judge, to administer a property under the authority of the Court Order.
  • The Receiver will act as your Landlord, collecting rent and making any necessary approved repairs.

Who am I renting the property from?

  • You are now renting the property from the Receiver, The Receiver Group (TRG), while the property is in receivership.  
  • TRG is administering the property under the authority of a Court Order, acting as the owner of the property.  The Court Order will be provided to you for record.

What if I received a Notice of Receiver and Appointment on my door?

  • The Notice of Receiver is the Receiver’s first attempt to contact a tenant.  Sometimes when the Receiver is appointed, the tenant information is unavailable, so the Notice is our first effort to reach you.
  • Please call the TRG to start communications about who you are, the monthly rent you pay and whether or not a lease is in place.
  • It is the Receiver’s goal to protect you as a tenant and make sure to uphold any active leases and secure your tenancy throughout the receivership period.

Will the property I rent go into foreclosure?  

  • Every property is treated differently by different banks (lenders), but majority of the time, “yes”, the property does have a chance of going into foreclosure.  In most scenarios the owner of the property has abandoned their property, therefore it is doubtful they are staying current on their mortgage.

If a foreclosure sale date is scheduled, what should I do?  

  • The simplest answer is – nothing.  Typically foreclosure sale dates are postponed by weeks or sometimes months on end.  It is expensive for a bank to foreclose, therefore they might be looking at other options rather than foreclosing on the property.  The Receiver (your Landlord) will be monitoring the scheduled foreclosure sale date closely and will communicate with you whenever information is available.

If a foreclosure sale occurs, do I have to vacate the property?  

  • Short answer, yes…eventually.  If the property sells at foreclosure and the new owner(s) does not want to keep you as a tenant, they must provide you written notice to vacate by the time frame stipulated in your lease (typically thirty (30) days’ notice).

What if the real owner of the property knocks on the door and tries to collect rent?  

  • The owner of the property and/or the owner’s Agents (Realtor, property manager) are enjoined from the property.  This means, while the property is in receivership, the owner is not allowed to collect any rents or interfere with the receivership estate.  This is clearly stated in the Court Order, typically Section 6 or Section 14. 

How do I know what repairs will be approved?  

  • A receivership property is already in distress, therefore the Receiver has limited capabilities when it comes to conducting repairs.  
  • Necessities, i.e. heat, running water, working appliances and adequate toilets/showers will be repaired to keep the property habitable.  
  • Requested repairs such as, new flooring, dishwasher replacement, A/C replacement, sprinkler repair, automatic garage door repair, etc. will all be addressed on a case-by-case basis.  The case-by-case basis is most crucial if there is a pending foreclosure scheduled on the property.  Please read the “as-is” clause, No. 7, in your Receivership Lease if one is in place.

What is the easiest way to have a seamless and normal tenancy when involved with a receivership property?  

  • Easy!  Pay your rent, on time, in full, each month to the Receiver and be a good citizen.  The only person who will tell you that a receivership has been terminated will be the Receiver.