Eastern Idaho Apartment Association - Self Directed IRAs

Self Directed IRAs
You do not want to miss this one!  James Magee from Equity Trust will be providing a live webinar to teach us about Self Directed IRAs.  This creative investment strategy gives investors the opportunity to use tax sheltered funds to invest in real estate and other investments.  James Magee will inform us on some of the rules and laws regarding these investments.  He will be addressing traditional IRAs and Roth IRAs along with different structures in which to fund these investments.  Networking will begin at 6pm on November 14th with dinner.  The presentation will begin at 7pm.  Please forward this message to anyone you think may be interested.

Special Thanks
Special thanks to Barbara Dahlin-Solinsky for the standup job she did on the presentation regarding the Navigations Program and their role in prevention homelessness in Idaho Falls.

More information and benefits at http://eiaa.info

BMG Attends National Property Management Convention in D.C.

4 year lease required, utilities included.

New property might be available soon. The current tenant is trying to keep his job. If he succeeds he will sign another 4 year lease. If he loses his job this winter, there is a family waiting to sign another 4 year lease . . . If only we managed the White House!

We just returned from the 24th Annual Convention of the National Association of Residential Property Managers (NARPM) held in Washington D.C. The association celebrated their 24th convention anniversary during the event while the various general sessions emphasized professionalism and leadership by example. Workshops offered current attendees information to help residential property managers keep abreast of the latest developments in the industry. Suppliers and vendors were also present with samples of goods and services for improving the management of property.

Fall colors were worth the walk.

"The NARPM Annual Convention is a great way to keep up with current trends and changes in our industry and to locate products helpful for efficient property management and professional development" said Clint Collins. "We have been using video more in our marketing efforts. After learning some new techniques in D.C. our tenants and owners are going to see even more reliance on video for inspections and marketing vacancies." Workshop topics ranged from the latest trends in social networking to ethics to managing effective and profitable teams. As always there was a strong emphasis on the NARPM designation program in residential property management. Members of our staff in St. George and Salt Lake, UT and also in our Idaho Falls office are working on their designations and education in the property management industry.

Over 600 individuals were in attendance at the annual event. There are over 3,700 members of NARPM, the nation's only professional organization dedicated exclusively to enhancing the professionalism and ethics of the residential property management industry.

More Apartment Companies Requiring Renters Insurance

According to a survey of apartment companies conducted by the National Multi Housing Council (NMHC), 66 percent of lessor respondents required renters insurance, which is up from 44 percent in 2009, and in 2008 only 24 percent required the insurance.


There are a variety of reasons why apartment companies are beginning to implement renters insurance more, the most important benefit being the owner’s ability to recover damages. If a resident happens to damage the property the apartment company’s master insurance may cover the cost, but there’s the possibility of a deductible and raised rates.  With renters insurance the landlord would simply recover the costs from the resident’s insurance company. Landlords are also protected in the event that there is a theft or loss that a tenant blames on the property owner.

Coverage under a renters insurance policy usually covers damage caused by smoke, fire, explosions, and water. The typical policy has three fundamental components of coverage: Liability coverage, personal possession coverage and external living expenses coverage.

Although landlords are increasingly electing to require tenants to carry renters insurance, there are often state statutory limits on the amount of control a lessor can exercise over the resulting insurance purchase transaction.  Under most states’ laws, apartment companies are not allowed to require residents to use a particular insurance company. However, the landlords are allowed to provide a list of insurance companies as an option to residents. Indeed, landlords may identify favored insurance companies with which they have agreements for lower rates and pre-approval. Such arrangements offer incentives for both the landlord and tenant.

As the requirement of renters insurance becomes more common in the apartment marketplace, there appears to be little push back by renters. In fact, it is reported now that residents have begun to not only accept, but almost expect the requirement.