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TenantAccess Provides Nationwide Coverage with More Than 300 Local Property Managers
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Suzanne Tormollen
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TenantAccess Provides Nationwide Coverage with More Than 300 Local Property Managers

AUSTIN, TX - November 13, 2009 - TenantAccess, a leading provider of property preservation, management and leasing services, today announced the company has expanded its presence with 348 property managers located throughout the United States.  With the responsibility for maintaining the property, paying bills, collecting rents and communicating with tenants about other local issues, TenantAccess property managers offer customers peace-of-mind that their property will be supported and maintained 24/7, no matter where it's located.

Today's housing crisis is causing increasing numbers of foreclosures nationwide. RealtyTrac reported a record high 937,840 foreclosures in Q3 2009, a 23 percent increase over 2008.   The opportunity to bring financial stability to the market relies on the industry's ability to quickly occupy the surplus of foreclosed properties. TenantAccess is taking hold of this opportunity and has uniquely created an all-inclusive turnkey solution for property owners, renters, communities and government agencies to more easily and rapidly qualify, rehab, lease and manage residential properties.

"TenantAccess was born out of the industry's need for a single residential rental and property management company," said Paul Hayman, President of TenantAccess.  "Our mission is to maximize portfolio returns for our clients by eliminating the worries of property management.  Through our services and dedicated team of local property managers, our clients can quickly rent their properties while providing an optimal lessee experience.  It's been proven that if renters are happy they are more likely to maintain the property, pay their bills on time and have greater potential to be the ultimate property buyer."

TenantAccess scrutinizes prospective property managers before they are added to the roster.  The property management firms must show proof of general liability insurance, E&O insurance, and be licensed per local requirements.  TenantAccess also performs a rigorous background and reference check.  "The firms that meet our standards are really an all-star team of property managers," said Hayman.  "On average they have more than 19 years of relevant REO experience and add tremendous local credibility and knowledge to our team."

End-to-End Suite of Services Creates New Standard for the REO Market
As a subsidiary of FirstService Corporation and in partnership with Field Asset Services, TenantAccess offers clients more than 30 years of industry leading REO, residential property management and leasing experience.  In addition to a national presence of local property managers, TenantAccess provides a robust suite of services that cover the entire set of requirements for residential property preservation and management.  Each of TenantAccess' solutions is completely comprehensive enabling customers to focus on portfolio management, not on property management.  These solutions include:
  • Tenant Protection Response Program (TPRP) is a turnkey solution for banks, servicers and property managers to face the challenges of responding to the Protecting Tenants at Foreclosure Act.  The TPRP is a scalable program that handles the complex case by case reviews and decisions that are required by the Act.
  • Deed In Lieu (DIL) Lease enables mortgage holders to approach at risk homeowners proactively with the option to convert their lien into a lease and to stay in their home as a tenant. This allows the lender to avoid costly foreclosure expenses and allows the homeowner to avoid damages to his financial and personal well being.
  • Lease and Hold (L&H) Program provides a simplified means for investors and lenders to generate cash flow from their portfolios of distressed properties.  The L&H Program is designed to help these investors as well as traditional mortgagors to generate rental income through the management of the entire process.
  • Rehabilitate and Resell (R&R) Program enables qualified investors an easy means to buy, rehabilitate, and ultimately sell large quantities of distressed properties. TenantAccess brings the scale and experience to manage a large number of projects which require evaluation, initial rehabilitation work, and ongoing property maintenance.

About TenantAccess
The TenantAccess team has more than 30 years of industry leading REO, residential property management, and lease experience. The company provides a full range of services, with a national presence of local property managers. TenantAccess integrates the resources and capabilities of the nation's leading property preservation, REO maintenance and repair company, Field Asset Services. TenantAccess and FAS are subsidiaries of NASDAQ listed FirstService Corporation. This strong ownership enables significant operational capacity and infrastructure to support current volume, as well as provide additional scaling capacity for our clients' incremental property realization strategies.  For more information about Tenant Access visit www.tenantaccess.com.