Document Summary for Customized Management Agreement
Module # 1 -- Property Management Agreement
The Management Agreement is the cornerstone of the relationship between the property owner and the management company. It establishes the terms of the relationship, the fees, how to end the agreement when something goes wrong, waivers and liabilities. It is what you go to when things don’t work out on the operational side of the relationship. When the owner pushes back, you get to point to this agreement and remind them of what they agreed to in writing. This is the key document in your business model.
This document was originally drafted in 1990 by our attorneys at McCalla, Raymer where we were clients since 1980. Since then it has been tweaked, edited, updated, revised, sharpened and perfected by attorney Monica Gilroy to protect us from every possible danger of property management. Revisions have been driven by safe, scalable and profit the ever changing license law, landlord tenant law, federal and state law changes and our experience managing 9,000 tenants.. Our attorney, Monica Gilroy, of The Gilroy Firm (formerly of McCalla Raymer) has made changes in this document as recently as the summer of 2018. It is undoubtedly the best CYA management agreement you could ever use and full of revenue-generating strategies. Since this agreement was written by our attorney (a landlord/tenant litigation expert) to protect us, it goes a long way to shutting down opportunities for litigation against any manager.
Module # 1 Includes Items 1-4
What you get: You will receive: a fully editable management agreement (PMA) that you will add your name to, make some dollar (and percentage) changes, and be up and running in minutes; plus, a document to help you fill in the right information so your final agreement is exactly what you want. The “Instructions to Adapt the Management Agreement to Your Company” identifies 20 blanks to fill in so you don’t miss anything in the Agreement to adapt it to your model; Finally, you receive training videos covering every detail of the management agreement and two consulting sessions with Robert Locke for an hour each.
Pricing Management Agreement $695.00. Think of this as what you might earn leasing one property, or the cost of two hours with a medium priced attorney.
You can download the PMA documents 1-4 and 35 training videos here
In addition, for no additional cost, we will review your finished documents once you complete them if you want us to. Also, for an additional $200, attorney Monica Gilroy of The Gilroy Firm (the attorney who wrote our documents) will review your documents.
Remember: this is much more than just the documents. This is 35 years of information and experience wrapped up in documents (plus training notes/videos) including several new revenue streams, CYA protections and things you didn’t even know you needed and won’t even think about until it’s too late.
We have spent tens of thousands of dollars with our lawyer over the last two decades perfecting and revising these documents. They have prevented countless lawsuits and disputes with owners and have made us a lot of money (literally millions). You will too if you acquire these documents and put them to work in your business. Or, learn from your own experiences, over the next 20 years, make your own mistakes and create your own documents. The choice is yours.
Module # 2 -- Housekeeping, Ancillary, Entity Documents
to be added to every property management agreement
Over the years we have figured out that there are some things you need to address in a separate document because it needs special attention. Mold, mortgage foreclosures and personal property issues are examples. Sometimes, when a big topic is addressed in the management agreement, it stretches unnecessarily the document into eight or ten pages which is to long. Some management agreements go on for 15 pages and they are overwhelming. Long agreements generate too much information (and suspicion) for the owner. Better to carve out some topics from the property management agreement and put them on separate pages. You use all these housekeeping documents with all property management agreements.
These are CYA documents designed to protect you from the litigation coming your way. They add Body Armor to your business and prevent litigation.
Module # 2 Includes 24 Housekeeping, Ancillary and Entity Documents
What you get: Mold / Mildew / Moisture Disclosure; Establishing & Maintaining the Trust Account; Personal Property Disclaimer; Owner’s Mortgage Disclosure; W-9 Form; Lead Paint and Flood Disclosure; Authorization to Add Agent (property manager) as an Additional Insured; Property Features; Authorization and Agreement for Automatic Electronic Funds Transfer (EFT/ACH); Owner Declaration and Data Schedule; New Property/Owner Sign Up Checklist; Things You Can’t Track, Monitor or Enforce, Owner’s Homeowner Association Disclosure; Power of Attorney; Investor Management Agreement Addendum; Adding a Property to an Existing Management Agreement; New Property/Owner Sign Up Checklist; Multiple Owner Declaration and Data Schedule; Entity Declaration and Data Schedule; Home Warranty Disclosure and Agreement, Certification of Trust; Corporate Resolution; Limited Liability Company Affidavit plus 111 minutes of videos training.
To accelerate your understanding and implementation of these documents we’ve prepared a lot of training videos covering all the details of these documents. These videos are shot in studio and go through each stipulation in painstaking detail to uncover protections for the manager, revenue-generating strategies and can be used to help you train your staff and leadership on the use of the documents.