SERVING THE REAL ESTATE INDUSTRY SINCE 1991 

  1. Meeting with financial institutions for initial background information.
  2. Meet with and receive direction from the mortgagee’s solicitor regarding the authorization to take control of the building.
  3. Delivery of notices or directions to tenants and occupants.
  4. Meet with existing tenants to establish a relationship.
  5. Property Evaluation and Assessment Report.
  6.  Coordination of Environmental Audit, if required.
  7. Immediate evaluation of Life Safety and Security systems.
  8. Rent collections and arrears.
  9. Accurate monthly financial reporting.
  10. Notify local Utilities of the change in building possession.
  11. Notify Assessment Office to direct Realty Tax Statements to mortgagee or Cheval for payment.
  12. Advise mortgagee or their solicitor of current income and expenses when requested.
  13.  Budget preparation.
  14. Market evaluation of rental rates and competitive analysis.
  15. ​Leasing and Marketing Strategy Program if the building may be deemed a long-term hold.
  16. Cooperate with listing agent if property is for sale.
  17. Project staffing requirements and evaluation of existing personnel.
  18. Project Performance and  Future Potential.

Cheval Property Management's expertise and services have also been highly regarded and utilized by financial institutions, solicitors, mortgagees, bankruptcy trustees and private lenders during economic down turns.  All types of properties being residential, office, retail and industrial  are handled carefully and professionally giving consideration to the sensitivity of the situation towards owners and tenants.

The Real Estate Industry refers to these economic situations as "work-outs", "take-backs" or "distressed properties".  Cheval provides detailed analysis and budget conscious management when properties are in this situation and employs a team of experienced professionals who have the expertise and experience to ensure that the market value of the property is maintained.

A listing of the various levels of involvement that Cheval provides from our initial appointment are as follows:

For more information, please contact 905-726-3586 or submit the inquiry form below

FINANCIALLY DISTRESSED PROPERTIES