Myth #71 Part 2 Mandating Non-Smoking Clause FREE Myth Subscription Get a Myth video in your email inbox every week. Unsubscribe anytime Subscription to the Myths of Property Management We will send a courtesy email to let you know when new myths are posted. Thanks for being a valued client. Name* First Last Email Address:*…

Myth # 22

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 22

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 22

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 22

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 22

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 21

Myth # 21 The Rent Start Date and Move In Date MUST be the Same! RIGHT?

Question: If the tenant moves in early, you should prorate the rent. Right?

Myth # 20

If I follow my client’s directive (follow agency law) I am not liable for their bad decisions. RIGHT?

Question: As the owner’s agent, If I do what I’m told, follow the owners directives, and I’m safe. Right?

Question: Under what conditions can I be held liable for following the owner’s bad decisions?

Myth # 19

Ethical property managers never make undisclosed profits. Right?

Question: Do professional managers ever take spreads and profits without telling the owner in advance? We think the answer is … Absolutely. Most do.

Myth # 18

Making big money in property management has a negative side (loose clients, putting license at risk, risk getting sued). RIGHT?

Question: Are there risks to earning Big Money in property management?

Myth # 17

I should require Renters Insurance for every tenant. RIGHT?

Question: Is it really worth requiring every tenant to have renters insurance?

Myth # 16

Myth # 16 If the Owner Sells the Property while under Management, the new Owner is Bound to the PMA — RIGHT?

Question: What happens to the management agreement when the property changes ownership?

Myth # 15

A smart property manager would approve an application to rent from their real estate commissioner. Right?

Question: Who in their right mind would deny the real estate commissioner’s application to rent?

Myth # 14

If my volume of business generates a discount price from my vendors, I should pass it on to my clients. Right?

Question: If my company volume of maintenance, rekeying, painting, repairs generated a discounted price do I have to pass it on to the owner?

Myth # 13 All the Revenue Streams MUST be listed on the PMA! RIGHT? Question: does the management agreement have to list every income and revenue, or can I make money without the owner knowing about it? [popup_trigger id=”42367″]Click to send this page to a coworker[/popup_trigger] FREE Myth Subscription Get a Myth video in your…

Myth # 12

Generating more revenue means being deceptive or tricky. Right?

Question: Can I really make BIG MONEY in this nickel-dime business and be fully transparent with my owner?

Myth # 11

Once the PMA is executed you can’t change it. Right?

Question: How do managers set up the PMA to be modified over time.

Myth # 10

The property manager should name the owner as the landlord on the lease to lower the property manager’s liability. Right?

Question: Where does liability come from?

Myth # 9

If the owner violates fair housing law when approving or denying an applicant, the agent is not liable. Right?

Question: When owners make bad (discriminatory) decisions about applicants, can you be held liable?

Myth # 8

Large investors must use YOUR Qualifying Guidelines to qualify applicants. Right?

Question: Can a Large investors adopt their own Qualifying Guidelines for you to use on their applications … or must they use yours?

Myth # 7

Having a Scope of Service really isn’t that important. RIGHT?

Question: What are the real benefits to having a Scope of Service?