Preparing & Circulating Property Management Agreement (PMA)

Process for Preparing and Sending a Property Management Agreement via DocuSign

CHANGES THAT NEED TO BE MADE

• Images below all use the old version of the PMA form
• Use more images

• Clarify IABS

  
  

Important: If this is an existing owner who already has a completed PMA, and we are just adding a new property to their account, then we do not need to sign a new PMA. We just need to sign a Multiple Property Addendum. Use this wiki instead: https://treaty-oak-property-management-llc.helpscoutdocs.com/article/283-adding-a-new-property-to-an-existing-owners-account

Preparing the PMA

• 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

• Owner name, email and contact number (This information will be provided by the PM or OSM when the task is received.)
  • The OSM should be able to confirm this for you in the future, for all new clients. If needed, you may alternatively check the appraisal district website to confirm the ownership for the property. Currently, we manage in 4 counties within the State of Texas. Below is a list of websites where you can search the property and find out who the owners are and how their names are spelled, if necessary.
    • Travis County: https://traviscad.org/propertysearch
    • Williamson County: https://search.wcad.org/
    • Hays County: https://esearch.hayscad.com/
    • Bastrop County: https://esearch.bastropcad.org/
• Check the broker information. The address and the contact numbers.
• Add the property information from the MLS, including the 'Legal Description', the county, and the 'non-real-property items'.
  • In the example below, the 'Legal Description' is LOT 53 BLK U SHADOWGLEN PHS 1 SEC 9
• Term: Commencement date and expiration date.

• Check the fee

1. Management fee: 8%
2. Leasing fee: 100%
3. 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.

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

Sending the agreement through Docusign

• Access your DocuSign account.
• Upload the finalized PMA document.

• 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/landlords should always sign first.
  • the property manager signs last

• 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. If there is one landlord/owner, then they only need to initial once. If there are two landlords/owners, each one needs to sign + initial.
• 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. Be sure to use the 'Date' tag in DocuSign. Don't manually enter the date using a text field.

• 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 that allow the owner to complete these fields. Please also include optional text boxes for the utilities provider info.

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

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