If such is not the case, the Receiver should allow in his fee the amounts of legal expense necessary for the Receiver to file the final accounting in pro per or to hire an Attorney to do it. It is wise to maintain a sense of urgency to get the Receiver on the property or into the board room of an equity Receivership or at the controls of an operating company as swiftly as possible. Usually, when orders are issued from the court, it is almost always possible to have the Receiver's oath and bond filed within an hour or less of the order being signed. With such the Receiver can be at the location with his people quickly and can take possession or impound the goods before the defendant can spirit them away. Make sure the fee charged is a fair one for the estate and for the Receiver.
Receivers work on differing types of fees.
Some charge by the hour, and if they hire a property management company, the property management fees are extra. Some Receivers charge a minimum monthly fee against a percentage of the gross collected from the property and combine the Receiver fee and the property management fee into one fee. This method has become popular with lenders as they can then understand as fully as possible their commitment to fund the Receiverships estate as they are required to do. Of course, disclosure of ownership percentages in management companies is required. Determine special needs are for special properties.