Preparing & Circulating Property Management Agreement (PMA)

Process for Preparing and Sending a Property Management Agreement via DocuSign

Preparing the PMA

1. Log in to ZipForms and click the new button to create a new transaction, and then click New Lease Listing.

2. Add the property address as a transaction name. Category: Residential and under Templates, select the 'Standard Property Management Agreement.' Click the save button.

3. After saving, we can see the summary page of the listing. Click on the Documents (highlighted yellow) button to open the documents. We will be needing the following documents.

Residential lease & property management agreement
Information about brokerage services
Addendum regarding rental flood disclosure
Addendum regarding lead-based paint (Only required if the property is built earlier then 1973)
Addendum to property management agreement
Compensation agreement between brokers (It is not included in the PMA but will be needed when the property is leased)
Delete the rest of the documents

4. When we open the PMA form, some of the information is prefilled. Some of the information is filled by us, and the rest of the information is filled by the owner.

Information added by us on PMA

Owner name, email and contact number (This information will be provided by Stephanie when the task is received.)
Check the broker information. The address and the contact numbers.
Add the property information from the MLS.
Term: Commencement date and expiration date.

Check the fee

Management fee: 8%
Leasing fee: 100%
Renewal fee: $200

Check the boxes that are required

Check the broker information and owner name on page 16. Till this point, the PMA is completed. Click the save and back button to go to the documents page.

5. Click to open rental flood disclosure and make sure there's

Property address
A. marked as 'not aware' & B. marked as 'not aware' check boxes
Landlord name
Click save and back button to go to the documents page.

6. Download the PMA with all of the other documents in one PDF file to send for signatures.

Sending the agreement through Docusign

1. Log in to DocuSign

Access your DocuSign account.
Upload the finalized PMA document.

2. Apply a Template & add recipients

Select the appropriate template if a pre-existing one matches the agreement type. Since we have a single owner in the below example, we will apply the PMA-2P template. 2P template means 1 signee will be the owner and 2nd signee will be the property manager. Similarly, PMA-3P means 2 owners and 1 property manager.

Input the owner(s) and property manager's names and email addresses as recipients.
Use the "Signing Order" feature to ensure proper workflow (owners go first and the property manager signs at the last).

3. Add Fields to the Document

Place the fields for the owner(s) to add the information, which is the mailing address and the contact information.

Include initial fields on every page at the bottom for the broker and the landlord.
Add the text fields on page 4 for the owner to provide emergency contact details.

Confirm the placement of the fee (management, leasing, and renewal). Most of the time it's 8% management, 100% lease, and a $200 renewal fee.

Add signature fields for the broker and the owner

4. Mandatory documents, which includes

Lead-Based Paint Addendum (if the property was built before 1978).
Rental Flood Disclosure (Included with every PMA)
Addendum to property management agreement. Add the text boxes as shown below.

5. Review and Send for Signatures

Double-check all fields for accuracy and completeness.
Click “Send” to distribute the PMA to the recipients for electronic signatures.

6. Follow-Up

Monitor DocuSign for the completion status.
Send reminders to recipients who have not signed within a reasonable timeframe.