ORCHID GROVE

Case Highlights

• Responsible for property management and all homeowners' association matters
• Implemented program to rent unsold but completed townhomes
• Worked with the secured lender to maintain and enhance this partially completed development

Case Narrative

DSI was appointed as the successor receiver of a homeowners’ association and property development in Broward County, Florida. The property consisted of approximately 160 units, with 62 of those units completed but unsold. The Receiver and DSI oversaw property management, responded to requests from the city government and handled all operating matters relating to the homeowners’ association, including collection of monthly dues, reconciling homeowners’ accounts and preparing estoppel letters for potential resale of townhomes.  In addition,  DSI established and managed a rental program to rent completed but unsold townhomes and provide ongoing reporting to the secured lender and other constituents until the property is sold.