Over the past year, as I’ve reviewed client’s documents, I’ve seen several of my clients not following good contract law and executing leases on behalf of the owner and themselves. Signing for the owner (under some Power of Attorney or agency authority) has some specific requirements and getting it right is important. It’s a serious problem and could backfire. When I first observed this, I was a little confused and felt I needed to discuss with Monica before I made any comments to my students. These notes are a summary of those leal and practical conversations and provide instructions for how you should organize your document signature block.
The longer you’re in property management the more you realize that it’s sticky, often hostile, and sometimes even litigious. Over 35 years we’ve been burned many times by tenants and after the second or third time (we’re slow learners), we go back to the attorney and have them draft a document that prevents it from ever happening again. Blaming the property manager has reached an all-time high and isn’t going away anytime soon. So, understanding this reality, smart managers need to spend extra time, money and effort building and crafting documents designed to protect themselves, even from those they are trying to serve. We’ve pulled these documents from our archives and have listed them here for your review and individual download (or in packages by topic). We’ve laid them out in the Property Management Life Cycle categories to give the discussion some order.
Protecting yourself from tenants is what these documents are all about.
Download (PDF, 417KB)
The Property Management Lifecycle by Crown Investor Institute LLC