Waypoint Homes, a pioneer in the REO to rental industry, today announced a promotion to benefit local food banks in areas where the company has a footprint. For each “move in” to a Waypoint home during November and December, the company will donate $25 to a local food bank. The company will also match employee gifts up to $25 per employee during these months.
“Making a difference in our communities is the foundation of our business,” said Doug Brien, co-founder and managing director. “Instead of letting foreclosed homes sit empty, bringing down property prices and becoming hot spots for blight and crime, we purchase them, renovate them to a high standard of quality, and rent them to residents looking for a stable home where they can put down roots in the community. Food is one of the things that makes a house a home. We’re proud to help.”
Colin Wiel, also a co-founder and managing director, said, “Innovative technology is the thing that makes Waypoint’s business possible, and we admire the creative ways food banks have incorporated technology to amplify their results. Through surplus food, good connections, and an effective distribution network, a food bank can take $1 and turn it into multiple dollars worth of food. That’s an amazing impact.”
Larry Sly, executive director of the Food Bank of Contra Costa and Solano, the area where Waypoint Homes got its start, said, “As we finish up the third year of the recession, food insecurity remains a big challenge for families in the U.S. – one in six Americans doesn’t have enough to eat. It’s a big help when companies like Waypoint throw their support behind our efforts to feed our communities.”
Waypoint Homes works with local realtors and contractors in the regions where it operates to purchase, renovate, and rent single-family homes. Residents can take advantage of the company’s trademarked Lease Plus Rewards program, qualifying by completing a personalized Financial Fitness consultation and earning points during their lease term 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, exchange the value in cash or choose from a variety of different upgrades to their home provided they are current on their rent.
About Waypoint Homes: Based in Oakland, Calif., Waypoint Homes (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 2,500 homes in California, Arizona, Illinois, and Georgia and is rapidly expanding nationwide.