""Green River Capital"":http://www.greenrivercap.com/ (GRC) announced Wednesday that the company has enhanced its rental and property management program.
[IMAGE]
The Utah-based asset management and loss mitigation provider says its program serves as an REO alternative to help lenders preserve and maintain their properties by taking on tenants.
GRC's rental program enhancements come at a time in which the Obama administration has requested proposals for new rental strategies for foreclosed properties.
GRC says the benefits of its rental program are two-fold: it gives financial institutions a viable option for managing their bank-owned inventory while helping consumers regain some financial stability as renters.
GRC's program provides residential property management and rental services on a national and regional basis. Additionally, the program handles the disposition of properties identified for liquidation.
[COLUMN_BREAK]The program includes single-family residences, two-to-four family homes, and most condominium and townhome properties.
Occupant participants of the rental program are former borrowers and bona fide tenants as defined by the Protecting Tenants at Foreclosure Act (PTFA), as well as newly sourced tenants.
""With the housing market's continuing challenges and President Obama's recent request for firms to propose alternative rental approaches, GRC's enhanced, non-traditional servicing program allows our clients to conserve their properties and prevent losses,"" said Joe D'Urso, president of Green River Capital.
D'Urso added, ""We have built a large network of agents across the country. We have also established strong partnerships with local and national property management and preservation companies, which ensures positive results for our rental program and success for our clients, while also producing a winning situation for tenants.""
While the rental program is operated from GRC's headquarters outside of Salt Lake City, the company's nationwide network of real estate agents provides local property management in most states.
GRC specifically qualifies its agents to provide management services based on each agent's level of expertise and industry experience. GRC also engages local property management companies in states that do not permit agents to provide these services.