Waypoint Homes Launches in Florida

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Waypoint’s Professionally-Managed Single-Family Home Rentals & Trademarked Lease Plus Rewards® Program now available in Tampa and Fort Lauderdale

Between our Lease Plus Rewards program and our new Waypoint Green energy savings standard, we are raising the bar for the experience of renting a single family home.

Waypoint Homes, Inc., a leader in the fast-growing REO to rental industry, announced today that it now has homes for rent in Tampa and Fort Lauderdale, Florida. “We believe our commitment to ‘reinventing renting’ will appeal to people in Florida who are looking to have a great rental experience in a single family home,” said Doug Brien, co-founder and managing director of Waypoint Homes. “We’re looking forward to partnering with local businesses and creating jobs at the same time we help to stabilize communities in central and south Florida that have been hard hit by the real estate downturn and are now looking toward a recovery.”

Waypoint Homes works with local realtors and contractors in the regions where it operates to purchase, renovate, and rent single-family homes. The company owns more than 3,000 homes. Most are in California, where the company was founded, but a growing number are in other areas, including Phoenix, AZ, Chicago, IL, and Atlanta, GA.

With Waypoint’s innovative Lease Plus Rewards program, residents sign a two-year lease on a newly renovated home. They qualify for the program by completing a personalized Financial Fitness consultation and during the course of the lease they earn points for paying their rent on time, maintaining their home, and completing additional financial education seminars. At the end of the lease term, they can convert their “Waypoints” toward the purchase of any home in any market where Waypoint does business, or take a portion of the value as cash back. Additionally, during the lease term, they can use their Waypoints to choose among different upgrades that customize their home. Beginning in 2013 the company is implementing a standard Waypoint Green energy savings plan for its homes with flow reducers for faucets, programmable thermostats, and compact florescent bulbs (CFLs), which the Company believes can save its residents hundreds of dollars per year on their utility bills.

“We’re confident our programs will appeal to Florida renters who are looking for a higher quality single family rental experience,” Managing Director Gary Beasley noted. “Between our Lease Plus Rewards program, which is designed to create a more rewarding rental experience, and our new Waypoint Green energy savings standard, which could save our residents several hundred dollars per year in utility bills, we are raising the bar for the experience of renting a single family home.”

About Waypoint Homes: Based in Oakland, Calif., Waypoint Homes (http://www.waypointhomes.com) has created a next-generation real estate company with an innovative business model to help address the lack of liquidity contributing to the prolonged U.S. housing crisis. The Waypoint solution centers on buying distressed single-family houses, renovating them, and then leasing them to residents via innovative leasing programs that are designed to provide a path to future home ownership for the residents. A leader in the emerging REO-to-rental industry since its founding in 2008, Waypoint has acquired more than 3,000 homes in California, Arizona, Illinois, Georgia and Florida and is rapidly expanding nationwide.

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Beth Haiken
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