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Customize Your PMA

Building YOUR
Customized PMA

Prelimanary Videos for Module # 1 and # 2

Class 1: Building YOUR Customized PMA

Before we jump into customizing your PMA, we need to introduce you to some fundamental concepts which will help shape your thinking and prepare you for our down-in-the-weeds discussions. The following videos will take some time, but they are important preparations for our discussions. On the last video page there is an online form to let us know you finished and to send us questions which we will make sure we are ready to answer in our first consulting session.

Lesson #1 Big A Small a Agency

Video Summary:


The meaning of the word AGENCY changes with the discussion. Sales agents mean one thing and property managers another. This Small a vs Big A Agency discussion will help you define ‘who you want to be’ as a property manager and what authority, power and duties you want to give yourself in the PMA. Issues like: do you simply do what the owner tells you to (“small a”) or do you act on the owner’s behalf (under a limited power of attorney AKA “Big A”) to handle certain tasks? Who defines the terms of a lease? Who decides what to do for small maintenance issues? How is emergency maintenance handled? Do you approve applications or does the owner? Who holds the security deposit? Do you collect and disburse rent on behalf of the owner? Do you file evictions, default (and reinstate) leases, and enforce the company’s rent collection policies on behalf of the owner, or do you let the owner make those decisions? Who is the landlord; the owner or the management company?

IT IS CRITICAL TO UNDERSTAND YOUR OPTIONS BEFORE YOU COMPLETE YOUR CUSTOMIZED PMA AND LEASE.


Lesson #2 Document Creep

Video Summary:


Simple is better but we constantly run across PMAs that are 10 pages long, legal paper with type size 8 to keep it from being 14 pages. There is a way to shrink it down to five pages (letter size with type size 12 so people can read it) if you’ll embrace this idea and follow the model we used for the past 25 years. Keeping it short and simple will make your life much easier and won’t scare the owner away with a long, intimidating document.


Lesson #3 What’s wrong with Standard Forms

Video Summary:


Agents tend to start managing with the standard management and lease forms from their state association of realtors without realizing that they create huge stumbling blocks to growth and profit. This video points out the cumbersome, clunky, troubling language in standard documents that prevents us from big success as a property management company.


Lesson #4 Property Manager Style

Video Summary:


Until you’ve been in the management business for a while, you don’t realize how different managers operate. Some operate like a broker (especially if they came from the sales community) while others operate like a manager (making lots of decisions for the owner). If you don’t know the difference you can’t decide ‘who you want to be.’ This video makes a clear differentiation between the two models and helps you make up your mind which style of manager you want to be.


Lesson #5 Myths about More Revenue

Video Summary:


The management agreement has to list every income and revenue the manager makes in full disclosure to the owner. Generating more revenue not listed in the management agreement would require me to be deceptive or tricky. Right?
Question: Can I really make BIG MONEY in this nickel-dime business and be fully transparent with my owner?


Training Property Managers Sample Image

Videos Below only show screenshots.

Module # 1 Customized PMA Training Videos

Class 2: Building YOUR Customized PMA

This class covers preliminary discussions, what your header should include, purpose statement, term, agency disclosure and commissions.

<<====  Download this numbered PMA First Thing!

Lesson #1 Preliminary topics, headers, "Brokerage", logos, the year and labels

Before Watching these Videos: Download this numbered PMA First Thing!

Video Summary:


Preliminary topics, the Header, Logos; "Brokerage", the Year, Labels


Building a Customized Property Management Agreement Preliminary topics the Header Logos Brokerage the Year Labels

Lesson #2 Monica on labels and purpose statement

Video Summary:


Monica on labels and purpose statement


Building a Customized Property Management Agreement Monica Gilroy on labels and purpose statement

Lesson #3 Exclusive agreement, start date, auto-renewal and end date

Video Summary:


Commissions; How Much, When Done, Procurement Fee, Renewal Fee, Monthly Fee, When it Starts and Ends.


Building a Customized Property Management Agreement Commissions How Much When Done Procurement Fee Renewal Fee Monthly Fee When it Starts and Ends

Lesson #4 Commissions: procurement fee, Do I deserve a renewal fee?

Video Summary:


Commissions; How Much, When Done, Procurement Fee, Renewal Fee, Monthly Fee, When it Starts and Ends, Minimums.


Building a Customized Property Management Agreement Commissions How Much When Done Procurement Fee Renewal Fee Monthly Fee When it Starts and Ends 2

Lesson #5 Commissions: Management Fee

Video Summary:


Commissions: Management Fees


Building a Customized Property Management Agreement Commissions Management Fees

Lesson #6 Month Fee as a Percentage?

Video Summary:


Should You identify your monthly management fee as a percentage of the rent received?


Building a Customized Property Management Agreement Should You identify your monthly management fee as a percentage of the rent received

Lesson #7 Sales vs Service Business

Video Summary:


Sales vs Service Business


Building a Customized Property Management Agreement Sales vs Service Business

Lesson #8 Terms of a Service Business

Video Summary:


Commissions: Terms of a Service Business.


Building a Customized Property Management Agreement Commissions Terms of a Service Business

Module # 1 Customized PMA Training Videos

Class 3: Building YOUR Customized PMA

Lesson #1 Non-Disclosure, Broker vs. Manager Style, privacy and protection of the owner

Video Summary:


Non-Disclosure, Broker vs. Manager Style, privacy and protection of the owner


Building a Customized Property Management Agreement NonDisclosure Broker vs Manager Style privacy and protection of the owner

Lesson #2 Limited Power of Attorney to lease and manage, don't contact the owner, build for speed in order to scale

Video Summary:


Limited Power of Attorney to lease and manage, don't contact the owner, build for speed in order to scale


Building a Customized Property Management Agreement Limited Power of Attorney

Lesson #3 Managing the money, paying expenses, disbursing to owner, reviewing invoices, rent belongs to the owner, prepaid rent, right to terminate and reinstate, and institute eviction proceedings

Video Summary:


Managing the money, paying expenses, disbursing to owner, reviewing invoices, rent belongs to the owner, prepaid rent, right to terminate and reinstate, and institute eviction proceedings


Building a Customized Property Management Agreement Managing the money paying expenses disbursing to owner reviewing invoices

Lesson #4 Authorization to repair, spending limits and exceptions, prompt reimbursement

Video Summary:


Authorization to repair, spending limits and exceptions, prompt reimbursement


Building a Customized Property Management Agreement Authorization to repair spending limits and exceptions prompt reimbursement

Lesson #5 Handling emergency maintenance, the manager should never file a legal action against the owner

Video Summary:


Handling emergency maintenance, the manager should never file a legal action against the owner


Building a Customized Property Management Agreement Handling emergency maintenance

Lesson #6 How and when to fire an owner

Video Summary:


How and when to fire an owner


Building a Customized Property Management Agreement How and when to fire an owner

Lesson #7 Management fee does not cover rehab, renovation, replacement and restoration

Video Summary:


Management fee does not cover rehab, renovation, replacement and restoration


Building a Customized Property Management Agreement Management fee does not cover rehab renovation replacement and restoration

Lesson #8 One Final Consideration

One Final Thought . . .

As part of this package you get time with Robert to answer questions that may have come up during your viewing of these videos. Now might be a good time to let us know you’re ready for that conversation. If you want to schedule that time simply follow the instructions below and set it up. Listing some specific questions would be helpful and we’ve given you space to do this in the following form. We'll be ready to review each document or just follow your lead as to the agenda.

The form below is always using Eastern Standard Time

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Our schedule for December 2019

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Module # 1 Customized PMA Training Videos

Class 4: Building YOUR Customized PMA

Lesson #1 Rehab, Renovations, Replacements and Rehab Premium

Video Summary:


Rehab, Renovations, Replacements and Rehab Premium


Building a Customized Property Management Agreement Rehab Renovations Replacements and Rehab Premium

Lesson #2 Maintaining a minimum account balance ... Owner Reserve

Video Summary:


Maintaining a minimum account balance ... Owner Reserve


Building a Customized Property Management Agreement Maintaining a minimum account balance Owner Reserve

Lesson #3 Advertising

Video Summary:


Advertising


Building a Customized Property Management Agreement Advertising

Lesson #4 Lockboxes and remote showings

Video Summary:


Lockboxes and remote showings


Building a Customized Property Management Agreement Lockboxes and remote showings

Lesson #5 Condition of property, utilities management, move in condition, plus managing 3rd party relationships and asset manager

Video Summary:


Condition of property, utilities management, move in condition, plus managing 3rd party relationships and asset manager


Building a Customized Property Management Agreement Condition of property utilities management plus managing 3rd party relationships

Lesson #6 Insurance, getting the owner to add you as additional insured

Video Summary:


Insurance, getting the owner to add you as additional insured


Building a Customized Property Management Agreement Insurance getting the owner to add you as additional insured

Lesson #7 Release manager from accounting for Personal Property

Video Summary:


Release manager from accounting for Personal Property


Building a Customized Property Management Agreement Release manager from accounting for Personal Property

Module # 1 Customized PMA Training Videos

Class 5: Building YOUR Customized PMA

Lesson #1 Reimbursements

Video Summary:


Reimbursements


Building a Customized Property Management Agreement Reimbursements

Lesson #2 Indemnification

Video Summary:


Indemnification


Building a Customized Property Management Agreement Indemnification

Lesson #3 There is a Scope of Service when Managing the Property

Video Summary:


Broad Standing Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #4 Broad Standing Disclosure

Video Summary:


Broad Standing Disclosure


Building a Customized Property Management Agreement Broad Standing Disclosure

Lesson #5 Selling the Property

Video Summary:


Selling the Property


Building a Customized Property Management Agreement Selling the Property

Lesson #6 Security Deposits

Video Summary:


Security Deposits


Building a Customized Property Management Agreement Security Deposits

Lesson #7 Termination

Video Summary:


Termination


Building a Customaized Property Management Agreement Termination

Lesson #8 Entire Agreement Clause

Video Summary:


Entire Agreement Clause


Building a Customized Property Management Agreement Entire Agreement Clause

Lesson #9 The Right to Modify

Video Summary:


The Right to Modify


Building a Customized Property Management Agreement The Right to Modify

Lesson #10 Notices and Final Wrap Up

Video Summary:


Notices and Final Wrap Up


Building a Customized Property Management Agreement Notices and Final Wrap Up

Module # 2 (Housekeeping Documents)

Class 1: Building YOUR Customized Housekeeping Docs

Lesson #1 Mold & Mildew Disclosure

Video Summary:


Mold & Mildew Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #2 Establishing & Maintaining Your Escrow Account

Video Summary:


Establishing & Maintaining Your Escrow Account


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #3 Personal Property Disclosure

Video Summary:


Personal Property Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #4 Owner’s Mortgage Disclosure

Video Summary:


Owner’s Mortgage Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #5 W-9 Form

Video Summary:


W-9 Form


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #6 Lead Paint and Flood Disclosure

Video Summary:


Lead Paint and Flood Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #7 Authorization to Add Agent as Additional Insured

Video Summary:


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #8 Personal Property Feature Disclaimer

Video Summary:


Personal Property Feature Disclaimer


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #9 Authorization for Automatic Funds Transfer (EFT/ACH)

Video Summary:


Authorization for Automatic Funds Transfer (EFT/ACH)


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #10 Owner Declaration and Data Schedule

Video Summary:


Owner Declaration and Data Schedule


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #11 Unenforceable Terms in the Lease Disclosure

Video Summary:


Unenforceable Terms in the Lease Disclosure

Video will be posted very soon


Lesson #12 One Final Consideration

One Final Thought . . .

As part of this package you get time with Robert to answer questions that may have come up during your viewing of these videos. Now might be a good time to let us know you’re ready for that conversation. If you want to schedule that time simply follow the instructions below and set it up. Listing some specific questions would be helpful and we’ve given you space to do this in the following form. We'll be ready to review each document or just follow your lead as to the agenda.

The form below is always using Eastern Standard Time

Please login to see your appointments.

Please select a service:
Please choose a service provider:

Our schedule for December 2019

Click a free day to apply for an appointment.
 
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Module # 2 (Ancillary Documents)

Class 2: Building YOUR Customized Ancillary Docs

Lesson #1 Ancillary Document HOA Disclosure

Video Summary:


HOA Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #2 Power of Attorney

Video Summary:


Power of Attorney


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #3 Modification of Agreement

Video Summary:


Modification of Agreement


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #4 Adding Property to Existing Agreement

Video Summary:


Adding Property to Existing Agreement


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #5 Multiple Owner Declaration and Data Schedule

Video Summary:


Multiple Owner Declaration and Data Schedule


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #6 Entity Declaration

Video Summary:


Entity Declaration


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #7 Home Warranty Disclosure

Video Summary:


Home Warranty Disclosure


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #8 One Final Consideration

One Final Thought . . .

As part of this package you get time with Robert to answer questions that may have come up during your viewing of these videos. Now might be a good time to let us know you’re ready for that conversation. If you want to schedule that time simply follow the instructions below and set it up. Listing some specific questions would be helpful and we’ve given you space to do this in the following form. We'll be ready to review each document or just follow your lead as to the agenda.

The form below is always using Eastern Standard Time

Please login to see your appointments.

Please select a service:
Please choose a service provider:

Our schedule for December 2019

Click a free day to apply for an appointment.
 
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Module # 2 (Entity Documents)

Class 3: Building YOUR Customized Entity Docs

Lesson #1 Entity Document HOA Disclosure

Video Summary:


Entity Documents


Building a Customized Property Management Agreement Notices and Final Wrap Up

Final Wrapup for Buiding YOUR Customized PMA

Lesson #1 Final Comments on the PMA

Video Summary:


Final Comments on the PMA


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #2 The Importance of Copyrighting your materials

Video Summary:


The Importance of Copyrighting your materials


The Importance of Copyrighting your materials

Lesson #3 Getting Existing Owners to Sign YOUR PMA

Video Summary:


Getting Existing Owners to Sign YOUR PMA


Building a Customized Property Management Agreement Notices and Final Wrap Up

Lesson #4 What Should the Cover Letter Say?

Video Summary:


What Should the Cover Letter Say?


What Should the Cover Letter Say?

Lesson #5 Do I need an Assignability Clause to Sell my Management Accounts?

Video Summary:


Do I need an Assignability Clause to Sell my Management Accounts?


Do I need an Assignability Clause to Sell my Management Accounts?

Lesson #6 Contracts, Exhibits, Addendums &, Housekeeping Documents

Video Summary:


Contracts, Exhibits, Addendums &, Housekeeping Documents


Contracts, Exhibits, Addendums &, Housekeeping Documents

Lesson #7 One Final Consideration

One Final Thought . . .

As part of this package you get time with Robert to answer questions that may have come up during your viewing of these videos. Now might be a good time to let us know you’re ready for that conversation. If you want to schedule that time simply follow the instructions below and set it up. Listing some specific questions would be helpful and we’ve given you space to do this in the following form. We'll be ready to review each document or just follow your lead as to the agenda.

The form below is always using Eastern Standard Time

Please login to see your appointments.

Please select a service:
Please choose a service provider:

Our schedule for December 2019

Click a free day to apply for an appointment.
 
SMTWTFS

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