Local property group purchases many houses once owned by 417 Rentals

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SPRINGFIELD, Mo. -- Many houses owned by Chris Gatley's 417 Rentals were auctioned off on courthouse steps Thursday and Friday. Gatley's personal bankruptcy case was dismissed by a judge this week.

Enterprise Commercial Group purchased 24 properties. Titus Williams, President of Enterprise Commercial Group, hopes to buy more in the weeks to come.

"Well, the goal is to make sure we are taking care of these people that are living in these properties," Williams said. "Investing money back into them so that they are nice safe places to live."

First, the group will notify current tenants of the change. Then, they will work to make sure every tenant is on a current lease.

"As well as doing property inspections to determine what is safe and what repairs need to be made," Jamie Thomas, Enterprise Commercial Group Vice President of Property Management, said. "Then prioritizing repairs as we move forward."

Thomas says they plan to keep tenants in their current homes. However, repairs must be made. Meaning tenants will have to temporarily move out so the contractor can make repairs.

"We've been getting houses ready throughout the past couple of weeks so that we have inventory in our portfolio," Thomas said. "Hopefully matching up with what they are paying in rent right now."

Both Thomas and Williams hope fixing up these properties will lead to stronger neighborhoods.

"When they start taking ownership of their house it really makes an opportunity for them to stay in place longer and invest more in the community," Williams said.

For tenants renting from 417 Rentals -- Community Partnership of the Ozarks will host a 417 Rentals Tenant Event Friday, April 26 from 2 p.m. to 6 p.m. and Saturday, April 27 from 9 a.m. to 3 p.m. at the Dream Center, 829 W. Atlantic. To RSVP, call 417-225-7499.

During the event, you will be able to talk to a lawyer and learn about additional resources.