While not in abundance, I have been getting some recent interior BPOs that are bank owned and tenant occupied. Has anyone else noticed this?

I wonder if this means that some of the banks have resigned themselves to the fact that they plan on owning these properties for a while and might as well make some money on them? I can't but help think that this may be the latest twist in the foreclosure scenario that always seems to be changing in one way or another.

Tenant occupied REOs are not the norm in my Tampa Bay market, it's just that I am seeing more of them in my encounters. Anyone else experiencing the same?

It's a result of the Protecting Tenant Law passed last year.

Yes, Jack nailed it.

I'm working with Tenant Access and they are managing bank owned properties and collecting rent in the process. However, my experience is that the banks are still moving forward and selling the properties whenever and wherever possible, some with the tenants in them. With some, they offer relocation assistance, but they have to abide with city rent ordinances. So, the relocation assistance I've seen is many times over $10K. I just handed a check to someone for $15,500.

how is working with Tenant Access? do they give you a decent volume of properties to manage, and is the pay worth your time? how is their online system?

Currently have an assignment I recently received with a Sec 8 tenant. Luckily for me the tenants are very cooperative and prefer to do a Relo agreement oppose to continuing with the property.

Shana,
Everyone at Tennant access is wonderful to deal with. Met one of them in person one time. There system is VERY tedious, volume on the low side. Last I checked there not hiring. There a kick off to FAS. All in all A+ once you figure there system out which is actually very professional just very large which is confusing.... Pay is ok however for some reason most of the tennants I deal with are diffacult to deal with and never sure who is more in charge TA or the LA which makes it diffacult sometimes...

Overall, my experience has been good. As for their system, they have mandatory training for their new agents, so navigating their system was never an issue for me. I've seen many emails going out to all of the agents stating that many were not using it correctly. A monthly task was even taken away from us because agents couldn't upload pictures and invoice correctly.

My volume is steady, currently above 60 properties and for now, I feel it is worth my time.

I currently have a couple of tenant occupied SFR listings in rent control in Los Angeles. It is becoming the norm now with current laws in place. Just glad it sold in the first week.

The lender finally decided to start selling with the tenants (Like they had a choice if they are cooperative) with some gentle nudging from me.

Cuts down on holding time significantly.

I had a tenant in a REO house I was getting to list. The bank made me offer than $1700 they move out on the exact date I ask them too. It depends who it is. And clean the place spotless

Nice stay for free and make money to move....only in America.