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Real Estate Resources
Welcome to the AAOA Forum, where we discuss the the topics our members want to hear and want to talk about. We like to take an active roll in the online community to help our members learn and help educate landlords new and old. We encourage you to participate and join in our discussions. Thanks.
Top 10 Money Saving and Money Making Tips of 2008
We’ve brought you dozens of money saving tips over the year. Here’s a countdown of some of the best technology and money making ideas of 2008, so you can save even more in 2009:To subscribe to our blog, click here.
Posted by Kim Ezzell on 12.22.2008. 1 Comment »
Filed under: AAOA Forum, Collections, Going Green, Insurance, Make Extra Money
Premium Advice: Avoid This Property Insurance Trap
While every dollar saved on insurance costs is a Net Operating Income dollar that can find its way back into a property’s bottom line, multifamily owners should remember that a low premium does not necessarily equal a good deal. To learn more, contact Commercial Insurance Solutions
See a related feature, Over-insuring is Killing Your Profits.
To subscribe to our blog, click here.
Posted by Kim Ezzell on 12.17.2008. 1 Comment »
Filed under: AAOA Forum, Insurance
Should I Buy Earthquake Insurance?
by Bill and Kevin Burnett, Inman News Q: I read your column on earthquake preparedness. And although I don’t think our 11-year-old house needs structural changes, I was wondering if you have any advice on whether to buy earthquake insurance. We are new to the area, so we have no experience or feel for it. A: Your question is a little far afield for our do-it-yourself column. But it’s a subject we’ve had to consider over the years, and, as you mention, we have addressed earthquake preparedness from a structural perspective. We’re both 40-plus-year residents of the San Francisco Bay Area — earthquake country — and have lived through our share of shakers. We’ve seen pictures rattle and chandeliers swing. We’ve owned homes and income property and have had to grapple with the same question: to insure or not to insure against the Big One. Here’s our take today.
Posted by Kim Ezzell on 10.27.2008. CLICK to Leave a Comment »
Filed under: AAOA Forum, Insurance
How Savvy Investors Do Property Insurance
“For investors with a portfolio of properties, greater opportunities exist to save on premiums, and thereby increase your investment income, by purchasing insurance on the portfolio, just like insurance carriers do on their portfolios as a whole,” according to Patrick Nugent, CCIM, JD with Commercial Insurance Solutions in Dallas.
For example, take an owner who has a $500 million portfolio that includes properties in California, Texas, and Florida. The highest valued property does not exceed $30 million, but $50 million of the portfolio properties are in a concentrated area of California.
Posted by Kim Ezzell on 10.23.2008. CLICK to Leave a Comment »
Filed under: AAOA Forum, Insurance
Over-Insuring is Killing Your Profits
How One Landlord Saved $86,000 in Premiums
Insuring the Market Value Wastes Your Money
“What property owners need to understand it that there’s a big difference between market value that lenders use and the replacement cost carriers use,” says Patrick Nugent, CCIM, JD, with Commercial Insurance Solutions out of Dallas.
”A property insurance policy is intended to make an insured whole and will not act as a profit center.”
With that in mind, Nugent recommends that a property owner take a hard look at the insurable values with an eye toward replacement costs because this will lower premiums. Read the rest of this entry »
Posted by Kim Ezzell on 10.02.2008. 3 Comments »
Filed under: AAOA Forum, Insurance
Got Renter`s Insurance?
by Ilyce Glick, Inman News
The number of foreclosures has doubled since last year. That means a lot of former homeowners are now looking for a new place to hang their hats.
Many former owners are becoming renters again for the first time in a long time. And there are new lessons to learn: You’re not quite the master of your own domain, because you merely lease the property instead of owning it. You have to live by the landlord’s or building’s rules and regulations. And, you have to remember to change your insurance coverage. Read the rest of this entry »
Posted by Kim Ezzell on 08.14.2008. 6 Comments »
Filed under: AAOA Forum, Insurance
Is Your Tenant Covered?
by Mina V. Garrey, Commercial Capital Properties
Just recently I was reading through one of my residential leases to make sure that every paragraph is up to date and to see if there is anything I need to include due to changes and updates of local rental laws.
I came across the paragraph talking about Renter’s Insurance and it made me wonder how many of my tenant actually have this type of insurance coverage.
I know that when a Lease is signed, I make sure to point that out to the prospective tenant and go over the importance of having the insurance. At the end of the day however, people can choose whether they are going to purchase the coverage. Read the rest of this entry »
Posted by Kim Ezzell on 07.24.2008. 1 Comment »
Filed under: AAOA Forum, Insurance
Why Landlords Need Liability Insurance
by Janet Portman
Q: I manage a single-family home for an out-of-state owner. A branch from a tree on the front lawn fell on the tenant’s car, which was properly parked in the driveway. The owner’s insurance carrier refused to pay for the damage to the tenant’s car, claiming no damage was done to the actual home. So, the tenant had the work done on her own, and filed a claim with her car insurance company, who paid the bill ($3,000) except for the $1,000 deductible. She wants the owner to cover the deductible, and I agree. What do you think? –Will G.
Posted by Kim Ezzell on 04.25.2008. 1 Comment »
Filed under: AAOA Forum, Insurance
WHAT LANDLORDS NEED TO KNOW ABOUT RENTER’S INSURANCE
WHAT EVERY LANDLORD NEEDS TO KNOW ABOUT RENTER’S INSURANCE
By David Rush, Kistler Financial Group Inc.
Renter’s insurance is a “must-have requirement” for every tenant, especially in today’s litigious world.
WITH A RENTER’S INSURANCE PROGRAM, YOU CAN …
- Significantly reduce your liability risk. When someone is injured on your property, both the renter and the landlord may be liable. If your renter’s liability is covered by insurance, your liability as landlord could be significantly reduced.
- Help your renters’ protect the value of their personal property, which in turn can reduce or eliminate any claim against the landlord for property damage. This is the renter’s best bet for recovery after a catastrophe, like the California fires.
- Help your renters find great coverage, with quick, easy enrollment and low rates. Renter’s insurance is available for less than $.50 per day (based on the national average). Often coverage can begin by 12:01 AM the day after they call and make payment.
AAOA members can participate in Kistler’s Renter’s Insurance Program and enjoy special pricing. Call 1-866-483-5168 or visit our Insurance page for more information.
Not a member? Join AAOA. Upgrade to our PremiumPlus Membership and receive our CD series Real Estate Investment Secrets, featuring top national consultants- $1,000’s of dollars of consultants’ time for free!
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Posted by Kim Ezzell on 10.29.2007. CLICK to Leave a Comment »
Filed under: AAOA Forum, Insurance
California Fires Place Focus on Property Insurance
California Fires Place Focus on Property Insurance
Under a State of Emergency, Southern California residents wait in a shroud of smoke, and anguish over the unknown – how much damage will this latest series of wildfires inflict on property owners?
According to the Insurance Journal, the insurance industry is rallying in anticipation of a vast number of claims—
as homes and business are evacuated in the wake of these as yet uncontrolled fires. Their best advice, “Find out what you are covered for.”
That same advice is good for those not affected by these catastrophic losses. With the advantage of time, you can use this opportunity to review your property insurance policies and decide if the coverage is adequate to protect your investments.
The Insurance Information Institute reports that damage caused by fire and smoke is covered under standard homeowners, renters and business insurance policies and under the comprehensive portion of an auto insurance policy. There is also coverage for water or other damage incurred by fire fighters in the course of extinguishing the fire, according to the I.I.I.
Want more information on property and renter’s insurance? Check out our Insurance page.
Scroll below to find out more about making an insurance claim.
Coming soon … our interview with David Rush of Kistler Insurance. Find out how renter’s insurance can not only cover catastrophes, but it can be a profit center for apartment owners.
Not a member? Find out how American Apartment Owners Association can save you money on all of your apartment management needs. Join AAOA now.
Posted by Kim Ezzell on 10.23.2007. CLICK to Leave a Comment »
Filed under: AAOA Forum, Insurance