""PropertyAccess"":http://www.PropertyAccess.com, an Austin, Texas-based provider of national property management services for institutional investors, is taking the guesswork out of the REO-to-rental market by offering investors a solution that addresses the full lifecycle of property management, including assessment, evaluation, renovation, management, maintenance, and future disposition.
[IMAGE]""The industry's support to release the excess of REO properties from government-owned enterprises through bulk sales to investors is growing,"" noted Paul Hayman, CEO of PropertyAccess.
Hayman points out that 33 senators recently sent a letter to the administration urging it to adopt new programs to alleviate the housing crisis, while the Federal Housing Finance Agency (FHFA) received over 4,000 responses to its RFI supporting a national rental program. He also cites numerous reports â€" such as those from Morgan Stanley, Harvard, and the Government Accountability Office â€" which demonstrate REO-to-rental as a sound strategy.
""Investors have the capital and are eager to jump into the game, but access to larger pools of assets is quickly becom-
[COLUMN_BREAK]ing a challenge,"" Hayman said. ""Needless to say, 2012 is going to be a pivotal year for investors in the REO-to-rental market and we need to begin sooner rather than later.""
According to financial filings at the close of the third quarter 2011, there were more than 220,000 foreclosed and REO properties held by HUD, Fannie Mae, and Freddie Mac combined. These numbers do not include the shadow inventory that has yet to hit the market, and that has been projected to be in the range of 1.6 to 2 million properties.
Owning and maintaining these properties is exerting pressure on the GSEs, banks, servicers, and the housing market in general, while at the same time making neighborhood revitalization and stabilization a challenge, Hayman says.
""The opportunity is real. The convergence of high REO inventory levels and depressed housing prices, along with an increased demand for rentals, is creating a perfect storm for investors,"" according to Hayman. ""The time for investors to get their feet wet is now. Gaining knowledge, finding trusted partners, and proving their investment models will be critical.""
PropertyAccess, a division of ""TenantAccess"":http://www.TenantAccess.com, offers investors access to a national network of over 500 local property managers, in addition to 13,000 local contractors and 7,000 professional inspectors performing more than 40,000 inspections per month.
Additionally, PropertyAccess provides property management services with enterprise-level oversight and back office management. The company says it can guarantee investors a single-source solution with visibility and scale to meet all of their property management needs today and in the future.