Owner of Salt Lake BMG recognized by the National Association of Residential Property Managers (NARPM)

Congratulations Chad Collins for being recognized by NARPM as a Next Generation Professional Superstar!

The Next Generation Professional group was formed to include individuals who are under 40 years old and recognize them for accomplishments to promote leadership.  Groups are formed across the nation with active members who take pride in their communities. 

Chad has held the following NARPM positions:

• Utah Chapter Founding Member
• Treasurer
• 2012 Utah Chapter President

 
As the Principal Broker / Owner at BMG Rentals Property Management in Salt Lake City, Chad leads a team that manages 500+ residential rental units. Chad and BMG Rentals Property Management participates locally in coat drives, food drives, and sponsoring youth sporting events.

Happy Holidays

More Coats for Kids 

No More Cards & Treats . . .
Thanks to the support of many, last year's coat drive was a success. This holiday season, we are going to put the resources that usually go to cards and treats towards the coat drive for local elementary kids. We appreciate your support!



It all started when a teacher was in our office paying rent on a cold day and mentioned that she couldn't believe how some kids don't have coats for winter. We thought she was talking about the crazy teenagers who just don't wear a coat, but she teaches 1st grade?? We asked for their sizes and it all grew from there. Other teachers and elementary school counselors started contacting us and we started spreading the word. The donations of coats and money kept coming in and we were able to provide over 60 coats to elementary age children last year.

Thank You For Your Business! 
We would like to thank all of our clients for their support this year. We hope you have a great holiday season and an even better new year!!!

Idaho multi-family properties may be eligible for insulation rebate

Available Multi Family Rebates for Attic Insulation (Electric Only Properties):

• Rocky Mountain Power Rebate for Electrically Cooled and Heated Property:
• R30 (12’’ fiberglass insulation) = $0.50 cents per sq ft

Pricing and Payment Information:

• Total Cost to install an R30 (12’’ fiberglass insulation) - $0.50 cents per sq ft. Assuming that a complex has been pre-qualified for the RMP Electric Rebate Incentive. The net cost after rebates to the customer is zero.
• It takes approx 6-8 weeks from the time the project is complete to the time the rebate is received. No payment is due until the rebate has been received. The Rebate incentive check will be sent direct to either your Management office or the apartment complex office and will be written in the name of the complex or the Management Company.

Key qualifiers that must be met in order to qualify for both the RMP and Questar Gas rebates:

• RMP:
• Unit must be heated using ducted Electric Furnace System (No gas Furnace)
• Pre-existing insulation level must be R19 or less
• Must be on qualified rate schedule with RMP Landlord Acct (residential rate customer)

Pre-qualification Process:

• In order to determine if an apartment complex meets the above criteria, Home Energy Solutions will need to have permission to work with the onsite apartment Manager. Once permission has been granted, a representative from Home Energy Solutions will schedule a time with the Manager to access 3-5 units depending on the size of the complex and take measurements of the existing insulation levels and pictures of both the furnace and cooling units. The only work required by the office in order to complete this process, will be to give notice to the tenants in order to access their unit. Once in the unit, the inspection process will take approx 5-10 min.
• In the event that there are vacant units or units with outside access to the attics, there will be no need to access the unit or provide notice to the tenant if vacant.
• Once we determine that a complex does meet the qualifications, we will notify RMP of our findings and a representative from RMP will then contact the office to verify our inspection results and confirm that the rebates are available.

Work Proposal (Approval to begin work):

• Once the “Work Proposal” has been signed, we can begin with the work. The basic outline of the Agreement requires that we are a licensed and insured contactor performing quality work with quality materials. It also reviews the payment details and how the utility rebates are used for payment.

Completion of Work:

• After the Work Proposal has been signed. Home Energy Solutions will work with the onsite Apartment Manager to complete the work. Home Energy Solutions will provide the apartment office with the schedule of work. The schedule will be used to give proper notice to each tenant. Other than providing notice to the tenants, no other work is required from the office. In the event that the apartment has outside access to the attic (breezeway or rooftop), we will not need to access the units and no work will be required by the office. When access to the unit is required, each apartment will take approx 30-45 min to complete depending on the size. All apartments will be left clean and in the same condition as when we entered.

Completion of Rebate Paperwork:

• All rebate paperwork will be completed and submitted to RMP by Home Energy Solutions. The only items needed to complete the paperwork from the Management or apartment office will be the following:
• A copy of the Rocky Mountain Power utility bill. This is usually called the “Landlord Tenant Agreement” account and is usually in the apartment complex or owners name. This is the account used when a unit goes vacant and needs to still have the electricity on. It will often include the commons area lighting and usually has several meters attached to it.
• Final signatures for the RMP rebate applications confirming that the work was completed.

Home Energy Solutions is licensed, insured, qualified and experienced contractor.

• We have worked extensively with Rocky Mountain Power and have insulated many large apartment complexes throughout Utah using the rebate programs to pay for the cost. We take pride in having as little impact as possible on all parties involved while completing the work in a timely and efficient manner.

When To Hire A Property Manager (Infographic)

Knowing when to hire a professional to manage your rental property can be difficult. In this infographic, we provide some pointers on how to narrow down and simplify your decision process.

Source: AppFolio.com

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.