Peace, described in a statement by TTA Property as "one of the most influential people in the UK property sector", takes up her new role on 1 September after announcing her retirement from the BPF earlier this year.
She will provide strategic advice to the business and top-level guidance to clients as well as acting as a figurehead for the company.
Peace said: "As the recovery gathers pace, we are entering an exciting but potentially challenging period for the property industry, with ever more scrutiny from central government, local authorities and communities.
"It has never been more important to have the right communications team behind you, whether you operate in the commercial or residential arenas."
TTA Property is part of the Good Relations Group, a group of specialist PR firms formed by parent company Chime in 2012.
When Peace takes up her role in September, TTA Property will rebrand as Good Relations Property to "closer align itself with the group".
Peace joined the BPF in 2002 and played a key role in the establishment Real Estate Investment Trusts, which are companies that hold investments in income-producing property.
She also had a hand in legislative changes in the property sector around planning, taxation and commercial leasing.
Jackie Brock-Doyle, group CEO of the Good Relations Group, described Peace’s appointment as a coup, adding: "Her insight and rich experience within the property sector will prove invaluable in helping to maintain our position as a market-leading property communications agency."
TTA was launched in 1989 by Tricia Topping, who left the firm last summer, and acquired by Chime 11 years ago.