TTR Completes Asset Dsposition and Closes Property Management Firm.

Toronto, ON - December 15, 2013 - Due to the economics of real estate and decreased profitability and margins, TTR has decided to follow its business risk management strategy to cease operations in corporate housing rental operations in Toronto.

"Because of the high intensity conflict regarding and fraudulent activities on the part of real estate agents and owners, it quickly became unprofitable with the new level of risk in leasing operations," stated Al Leong, Principal. 

"Excess inventory and relatively high prices drove prices down by $50/night in 2013. With owners scrambling to get long term tenants before the inventory and price corrections, owners were more willing to find their own tenants and take on the work of leasing and operations."

Tenants, therefore are more able to find great deals in new buildings and towers.  The market quickly became unattractive with nearly perfect competition for accommodations and new entrants tested waters in Toronto.

"Several firms established boutique housing providers began the consolidation process and closed shop in 2011 and consolidation and exit are a part of the normal business cycle with excess supply," he continued.  Despite getting an "A" rating from the Better Business Bureau and establishing long-term trusted partnerships and clients, our firm was not able to withstand the negative caustic events in Toronto in corporate housing to deliver on or promise a superior customer care experience to our tenants.

The company website has been taken offline, and customers and owners have been contacted to finalize return of any remaining assets, deposits and securities. The final proper winding-down of the company will be completed between the next three to six months.

About Three Towers Residential

Three Towers Residential was a privately held condominium unit management firm and leading provider of furnished executive rentals for the corporate relocation industry in Toronto, Canada.

TTR tenants and clients include professionals and executives from General Motors, IBM Global Services, Rogers Communications / Ericcson, Scotiabank, IIROC, TD, Citibank, RBC, Aon, Porter, National Bank of Canada, University of Ottawa, Cisco, CIBC, Canadian Tire Corp., Cogeco Data, and Trump International. TTR also partners with Brookfield GRS to deliver housing search services for the RCMP, Canadian Armed Forces and Public Works Employees. In the entertainment industry, executives from Degrassi (TV), AEG Live (King Tut Exhibit at the AGO, Britney Spears and Michael Jackson Tours), Sony Entertainment / Total Recall 2012, the Toronto Blue Jays and Global TV (Entertainment Tonight Canada) have called us home. TTR provided superior price-to-comfort value and concierge services including pet care management, grocery stocking and delivery service, dedicated driver or limo, personal or executive assistance, dry cleaning and laundry pick up, errand and shopping services, enhanced security detail, and personal or private chef service to our guests stays more convenient and enjoyable. The firm earned an A rating from the Better Business Bureau within its 5 years of operations.

 

TTR Issues 2013 Average Hotel Rates for Toronto Canada; Rates Drop $50/night on average.

TTR has conducted a survey of hotel rates and average nightly rates for the hotel industry as part of its property management research for executive relocation housing.

The findings are issued as tabular and graphic data for the months January 2013 through December 2013.

The rates by comparison have dropped by approximately $50/night across all 10 properties surveyed from 2012, largely as a result of increased supply in the housing market and the ability of individual home owners to find more affordable accommodations with executive suites which typically price 75% below hotel rates as an industry average.

The closure of The Delta Hotel and conversion into an furnished long term stay suite provider is also an indicator of the changes taking place in the industry.  AirBnB allows individual home owners to rent their accommodations on a nightly basis.  And Marriott's cross-licensing and sale of ExecuStay to Oakwood Global Solutions provides another indicator of the cost and structural changes taking in the hotel and long term stays industry.

For a copy of the pricing, please contact pricing@threetowers.ca

ABOUT TTR

Three Towers Residential is a condo suite management firm and leading provider of furnished executive rentals for the corporate relocation industry. We commission condominiums and homes for executive rental and match the best owners and tenants at key strategic business locations in downtown Toronto and in operations for 5 years.

Be in great company—our clients and tenants are AAA—and include professionals and executives from The Government of Canada, General Motors, IBM Global Services, Rogers, Scotiabank, IIROC, TD, Citibank, Desjardins, RBC, University of Ottawa, Cisco, CIBC, Canadian Tire Corp., Cogeco Data, and Trump International. TTR also partners with Brookfield GRS to deliver housing search services for the RCMP, Canadian Armed Forces and Public Works Employees, and Oakwood Global Solutions.

In the entertainment industry, executives from Degrassi (TV), AEG Live (King Tut Exhibit at the AGO, Britney Spears and Michael Jackson Tours), Sony Entertainment / Total Recall 2012, the Toronto Blue Jays and Global TV (Entertainment Tonight Canada) have called us home. We align ourselves with the most trusted agents and brokers and strive to provide the safest, most secure and relaxed residential climate to empower business executives to perform on their relocation assignment.

TTR provides superior price-to-comfort value and concierge services including pet care management, grocery stocking and delivery service, upgraded Egyptian Cotton linens, bedding and sheets, dedicated driver or limo, personal or executive assistance, dry cleaning and laundry pick up, errand and shopping services, enhanced security detail, and personal or private chef service to our guests stays more convenient and enjoyable. We have earned an A rating from the Better Business Bureau in 5 years in the property management category.

 

TTR Staging Systems Marketplace Platform

TORONTO / May 13, 2013 / TTR is announcing the development of owner and agent enhancement services to help accelerate sales and leasing for qualified agents and brokerage networks.

TTR's system will provide deep analytics including multivariate analysis to provide agents with real time and relevant data on the business impact of staging with detailed analysis including fabric, design, designer brand, condo unit floor height, view direction, kitchen upgrades, floor upgrades, fresh paint, price, time of listing, average days on MLS to provide agents with predictive data on final sale and time to sell within a confidence level of +/- 5% error.

This system will also enable marketplace transactions to allow owners, agents, designers, contractors, project managers, builders, developers, corporate clients and human resources departments, relocation firms, movers, truck rental and storage rental companies to collaborate and conduct business more efficiently.  We expect the rollout of the beta technology platform to be in September 2013.

This system is designed to help alleviate a perceived slowness in sales demand and possible risk to investor property portfolios and reduce owner risk and increase options for agents and their clients to reduce distressed sales, improve cash flow options through furnished leasing, and reduce foreclosure risk.

 

About Three Towers Residential

Three Towers Residential is a condo suite management firm and leading provider of furnished executive rentals for the corporate relocation industry. We commission condominiums and homes for executive rental and match the best owners and tenants at key strategic business locations in downtown Toronto and in operations for 5 years.

Be in great company—our clients and tenants are AAA—and include professionals and executives from The Government of Canada, General Motors, IBM Global Services, Rogers, Scotiabank, IIROC, TD, Citibank, Desjardins, RBC, University of Ottawa, Cisco, CIBC, Canadian Tire Corp., Cogeco Data, and Trump International. TTR also partners with Brookfield GRS to deliver housing search services for the RCMP, Canadian Armed Forces and Public Works Employees, and Oakwood Global Solutions.

In the entertainment industry, executives from Degrassi (TV), AEG Live (King Tut Exhibit at the AGO, Britney Spears and Michael Jackson Tours), Sony Entertainment / Total Recall 2012, the Toronto Blue Jays and Global TV (Entertainment Tonight Canada) have called us home. We align ourselves with the most trusted agents and brokers and strive to provide the safest, most secure and relaxed residential climate to empower business executives to perform on their relocation assignment.

TTR provides superior price-to-comfort value and concierge services including pet care management, grocery stocking and delivery service, upgraded Egyptian Cotton linens, bedding and sheets, dedicated driver or limo, personal or executive assistance, dry cleaning and laundry pick up, errand and shopping services, enhanced security detail, and personal or private chef service to our guests stays more convenient and enjoyable. We have earned an A rating from the Better Business Bureau in 5 years in the property management category.

  

 

 

TTR Completes staging Projects, Delivers 1700% ROI

TTR announces that it has completed staging projects for Sutton Realty Systems, Keller Williams and Tradeworld Realty at the Distillery District, Liberty Village and at Weston Road.  The projects have helped our partner agents and brokers sell 2 properties in 14 days and lease 3 units within 45 days during the winter months.

We are pleased to be part of these successes and look forward to forging new partnerships with agents, brokers and owners.

From staging fees as low as $2,995, for TTR's QuickStage, the typical home owner or agent will reduce sell time by 50% and realize final sales prices 6-17% more (98% list vs 93% list to final sale price ratio).  Research from the National Association of Realtors, Proctor and Gamble, HomeGain, and Maritz Research validate our findings and case studies.  TTR QuickStage includes professional designer assistance, project management coordination furniture rental, installation, move-in, labour, cleaning, photography and move-out.  Standard design and market analysis (return to owner for staging) is focused on delivering a 500-1700% return on invesetment (breakeven period of 22-45 days).

Based on these cases, TTR is expanding its core services to assist home owners and agents help expedite sales through our network of ARIDO-licensed interior design assistants. We are now also beginning to work with high end designers such as A. Bottechia, former creative director for HGTV's Designer Guys on major projects like at Trump Toronto, slated to be completed within 30 days.

ABOUT TTR

Three Towers Residential is a condo suite management firm and leading provider of furnished executive rentals for the corporate relocation industry. We commission condominiums and homes for executive rental and match the best owners and tenants at key strategic business locations in downtown Toronto and in operations for 5 years.

Be in great company—our clients and tenants are AAA—and include professionals and executives from The Government of Canada, General Motors, IBM Global Services, Rogers, Scotiabank, IIROC, TD, Citibank, Desjardins, RBC, University of Ottawa, Cisco, CIBC, Canadian Tire Corp., Cogeco Data, and Trump International. TTR also partners with Brookfield GRS to deliver housing search services for the RCMP, Canadian Armed Forces and Public Works Employees, and Oakwood Global Solutions.

In the entertainment industry, executives from Degrassi (TV), AEG Live (King Tut Exhibit at the AGO, Britney Spears and Michael Jackson Tours), Sony Entertainment / Total Recall 2012, the Toronto Blue Jays and Global TV (Entertainment Tonight Canada) have called us home. We align ourselves with the most trusted agents and brokers and strive to provide the safest, most secure and relaxed residential climate to empower business executives to perform on their relocation assignment.

TTR provides superior price-to-comfort value and concierge services including pet care management, grocery stocking and delivery service, upgraded Egyptian Cotton linens, bedding and sheets, dedicated driver or limo, personal or executive assistance, dry cleaning and laundry pick up, errand and shopping services, enhanced security detail, and personal or private chef service to our guests stays more convenient and enjoyable. We have earned an A rating from the Better Business Bureau in 5 years in the property management category.

TTR Wins Legal Claims against Grace Lee, Homelife Best-Seller Realty, Courts issue threat of Contempt and Jailtime against Lee.

January 28, 2013 - Toronto / / TTR is pleased to announce the successful conclusion of its first legal claim against respondent Grace Man C. Lee, agent and broker, Homelife Best-Seller Realty, 477 Ellesmere Road, Scarborough, ON.  Court File No. SC-12-00008189-0000 in the Suprior Court of Justice, Small Claims Court.

TTR successfully won its claim in Small Claims Court despite evasion and delay tactics of the defendant Grace Lee.

The public court record and hearing transcription for the examination on October 3, 2012, Deputy Judge A. Mintz, ordered to Ms. Lee, "If in fact, you continually disregard my orders, if you do it often enough and you do it once, then you will continue to do it, I will then have authority under the case law to hold you in contempt and put you in jail, with or without your half-a-million-dollar income a year, doesn't mean anything to me. You disobey my orders often enough and I will put you in jail."

Greg Mckechnie, paralegal for Three Towers confirmed, "So, Ms. Lee has had this money now actually for almost a year, I think it is almost rewarding her giving her 60 days to pay when she has the money, this matter can go on for quite some time, she has made one payment of $44.14 which is a rather odd and arbitrary number to begin with."

Four is a number rarely used in Chinese condo towers because it sounds like the word "death" in Chinese, intimating veile death threats issued by the defendant against the plaintiff.

We are pleased this case is now behind us and look forward to continuing to do business with our trusted real estate agents, partners and affiliates.


ABOUT TTR
Three Towers Residential is a condo suite management firm and leading provider of furnished executive rentals for the corporate relocation industry. We commission condominiums and homes for executive rental and match the best owners and tenants at key strategic business locations in downtown Toronto.

Be in great company—our clients and tenants are AAA—and include professionals and executives from The Government of Canada, General Motors, IBM Global Services, Rogers, Scotiabank, IIROC, TD, Citibank, Desjardins, RBC, University of Ottawa, Cisco, CIBC, Canadian Tire Corp., Cogeco Data, and Trump International. TTR also partners with Brookfield GRS to deliver housing search services for the RCMP, Canadian Armed Forces and Public Works Employees, and Oakwood Global Solutions.

In the entertainment industry, executives from Degrassi (TV), AEG Live (King Tut Exhibit at the AGO, Britney Spears and Michael Jackson Tours), Sony Entertainment / Total Recall 2012, the Toronto Blue Jays and Global TV (Entertainment Tonight Canada) have called us home. We align ourselves with the most trusted agents and brokers and strive to provide the safest, most secure and relaxed residential climate to empower business executives to perform on their relocation assignment.

TTR provides superior price-to-comfort value and concierge services including pet care management, grocery stocking and delivery service, upgraded Egyptian Cotton linens, bedding and sheets, dedicated driver or limo, personal or executive assistance, dry cleaning and laundry pick up, errand and shopping services, enhanced security detail, and personal or private chef service to our guests stays more convenient and enjoyable. We have earned an A rating from the Better Business Bureau in 5 years in the property management category.

October Rental Update - NEWS RELEASE

NEWS RELEASE

Grace Lee Receives RECO warning for false advertising and dealing with honesty and fairness...

Grace Lee, Agent and Broker, Homelife Best-Seller Realty receives warning from Real Estate Council of Ontario (RECO) for multiple offences - including dealing with honesty and fairness, false advertising, failing to act in the best interests, conscientious and competent service, disclosure of interest, acquistion and divestiture by registrant.  TTR filed the complaint against grace lee in December 2011.