New Hope Receivership Group announces first group of apartments in the Skid Row Housing portfolio have passed HACLA inspection since taking over as receiver.

LOS ANGELES, CA, UNITED STATES, June 13, 2023/EINPresswire.com/ -- Mark Adams, president of New Hope Receivership Group and the health and safety receiver for the properties previously managed by the Skid Row Housing Trust (“Trust”), announced today that 11 units been approved for payment of Section 8 rents by the Housing Authority of the City of Los Angeles (“HACLA”) for the first time.

New Hope inherited a total of 2,000 units from the Trust on April 7, 2023. 878 units were either not rent-paying (approximately 378) or totally vacant (approximately 500). Some of those units were left vacant or non-performing for years before the start of the receivership.

“Clearly 11 units is only the start”, Adams said. “I think of it like the first cars rolling off a new factory’s assembly line. The hardest work was building the factory, hiring the auto workers, and gathering the building materials. The rest, while hard and demanding work, can now be done more smoothly since the foundational work is complete”, Adams concluded.

In another development, Adams announced that no tenant will be evicted solely based on failure to pay rent during the term of the receivership. Criminal activity? Yes. Drug dealing? Yes. Solely for nonpayment of rent? No.

Adams further pledged that any tenant rents actually paid will be used directly to rehab that unit or at least that building and will not be used to defray the substantial costs of the receivership.

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Kim Tate
California Receivership Group
+1 213-327-6860
email us here

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