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Coming in July!  "The New Mafia.

Are Institutional Corporate Investors Becoming Public Enemy #1

in the Residential and Commercial Real Estate Market?"

Thursday, July 13th
IREM Membership Luncheon

Scott Weiss, Esq., CCAL

Learn More.   Click here to register now!  


Upcoming events


Thank you to these Sponsors!

         


Is your management company interested in being a sponsor also?

The sponsorship for this event is only $250 which includes logo with link marketing on the website and 2 attendees.

Contact the chapter office today with your interest! 615.889.1944


REGISTER NOW!


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Congratulations to Crystal Waller, Winner of the Kayak donated by

Dave Barnett, Marketing/Business Development with Paul Davis Restoration of Middle Tennessee.


The collapse of Silicon Valley Bank and Signature Bank of New York within days of each other recently caused financial headaches for many IREM® members and their clients. To prevent a wider crisis, the U.S. Department of the Treasury, and the Federal Reserve Board joined the FDIC to make all depositors whole at both banks, even those with deposits in excess of the standard FDIC $250,000 insured deposit limit. Industry observers have indicated that the underlying weaknesses that led to these individual bank failures are not widespread. 



But many members are left wondering: Is there anything we can do to help our clients and communities avoid exposure to similar risk in the future?

Even if you aren’t directly responsible for vetting or monitoring the banks that hold your property’s operating or reserve funds, there are some simple steps you can consider taking to proactively minimize risk for you and your clients. Tom Elmer, CPM® and instructor of IREM’s course Budgeting Cash Flow, and Reporting for Investment Real Estate (FIN402), CPM Capstone, and asset management courses, offers this advice:

• Be mindful of your client’s bank balances and consider diversifying deposits across several banks when balances exceed insured limits or distributing excess funds to the owner to relieve your company of fiduciary liability for those funds.

• Check the stock price and financial performance of your clients’ banking institutions. These often react to abnormalities in operations.

• Watch for announcements about your clients’ financial institutions (to monitor the above), and for news that the bank is embarking on potentially risky strategies, like over-concentrating in any single sector. “There is a fine line between bank innovation and taking unnecessary risk,” says Elmer.

Below are some additional resources to share with clients and/ or tenants of your property’s community who are directly affected by these bank closures.

Curated resources on the crisis

What other banks have failed? The FDIC maintains a list of banks that have failed since 2000. 



Are other banks at risk? The Federal Reserve Board has made funding available to other banking institutions across the U.S. to avoid further bank collapses.



How to avoid a scam in the wake of the recent bank closures: Tell your clients they can protect themselves against phishing scams. Let them know that the FDIC will not send unsolicited email notifications regarding their accounts.
If you have an account with one of the banks in question, you must file a claim with the FDIC Claims Portal. 



IREM is here to support you

.  As always, IREM is your partner in preparing you for both the day-to-day and the one-of-a-kind challenges you face as a property manager. IREM offers training in real estate finance for your team through IREM’s Asset Management Track of skill-based courses.



Learn More.  Sponsorships are available!  Download form now to secure your sponsorship! 


REMINDER FROM THE CHAPTER OFFICE: TURN IN YOUR INCOME/EXPENSE DATA ASAP! SUBMIT BELOW.

As a CPM® and/or I/E IQ data submitter, you’re entitled to one free benchmark product that includes access to all metro areas for one asset class.

Additional benchmarks for other asset classes are available for purchase within the portal.

CLICK HERE TO GET YOUR I/E IQ BENCHMARK

New! IREM Skill Badge: Budgeting and Accounting

Own your numbers. If you want to maximize net rent revenue, reduce operating expenses, and raise net operating income (NOI), then Budgeting and Accounting is your skill badge. Sharpen your skills and learn how to create budgets, identify opportunities to increase cash flow, and report on the health of the asset.

Budgeting and Accounting Skill Badge advances your property and your team:

  • Achieve ownership goals in your market
  • Learn fundamental accounting principles
  • Acquire financial reporting skills
  • Understand budget and cash flow elements
  • Leverage best practices in forecasting and analysis
CLICK HERE TO REGISTER

Obtain new skills and stay on top of emerging trends.
Learn more about New Live Webinars!


SHOP NOW to Support Thistle Farms, the IREM Community Partner! 



** VIEW  THISTLE  FARMS  VIDEOS. **


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IREM membership connects you to a support network of people, ideas, and resources to help you work smarter, achieve more, and advance on the path to success. Join IREM to make an immediate difference in your comfort level and access to knowledge, at any career stage.
Become a Member


WE TAKE ONLINE PAYMENTS!

*Members, please note that all lunch reservations must be prepaid with a credit card or paid to the office at least one day prior to the meeting date. For luncheon payments and other credit card payments, there is a 4% convenience fee that will be added at the time of payment. We appreciate your support and help with this board directive. Please note also that luncheon reservations must be cancelled 3 days prior to event to avoid penalty.


95% of  Industry Partners Renew Year After Year...

Because it Works!

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Thank you 2023 Platinum Sponsors!





Contact: Gordon Hansen at gordon.hansen@atirestoration.com
www.atirestoration.com




Contact:  Dave Barnett at Dave.Barnett@pauldavis.com 

www.middle-tennessee.pauldavis.com




Contact: Zach Whittaker at nash@onitpainting.com
www.onitpainting.com





Contact: Wes Hall at wes.hall@rackleyroofing.com

www.rackleyroofing.com



See All Sponsors.



WHO WE ARE

IREM is an international force of 20,000 individuals united to advance the profession of real estate management. Through training, professional development, and collaboration, IREM supports our members and others in the industry through every stage of their career. We believe in our people, and we provide the tools they need to succeed. We open doors, we forge connections, and we help show the way forward. Backed by the power that comes with being an affiliate of the National Association of REALTORS®, we add value to our members, who in turn add value to their teams, their workplaces, and the properties in their commercial and residential portfolios. Our memberships empower college students, young professionals, and industry veterans who are committed to career advancement. Earning our credentials, including the CPM, ARM, ACoM, and AMO, demonstrates a commitment to, and passion for, good management. These credentials, along with our courses and array of resources, all exist with one goal in mind – to make a difference in the careers of those who manage.

CONTACT US

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Suite 106
Nashville, TN 37214

Phone (615) 889-1944
Fax (615) 884-9034

info@iremnashville.org

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