Owner Responsibilities Document
Well, thanks for downloading this package. We appreciate it. The first document we ever created and we, when we went out and tried to tackle this thing up, scope of service, was this particular document titled Things You Can't Turn Over To Your Property Manager. What's cool about this document is the title of it, because when you're talking to an owner who doesn't know what you do for the fees that you charge, one of the documents you're gonna give them is says, we don't do everything. Wow, that's kind of a novel idea.
Kinda wakes up the idea in the owner's mind. What does it cover and what does your fee not cover? It's really a good document we just laid out. I think it's two or three pages, things that they established before we got connected that they really cannot turn over to us. And if you think about this yourself, there's a whole bunch of 'em.
So you can take this document and tweak it, add things to it, d delete things from it. We don't care. This is for you and begin using it. So things you can't turn over to your manager. Okay?
First you want to put in the management agreement that, that there are limits on what we do for the fees that we charged. If you've got our, property management agreement, our customized agreement, there's a paragraph 16 D and it kind of starts out saying the, management services are limited and then it goes on. That's the idea that you want to get across in the management agreement is that your management services are limited to specific things. And then if you look at 16 D rated all the way through, it says, here's what we do for our management fees. Here's what management doesn't include.
And again, it doesn't mean you won't do it. It means that this is what your a hundred dollars a month pays for. And if they want you to do something outside the scope of service, over time, you develop a policy and you charge for it. That's one of the ways you make money in this business.
HOA and Manager Confusion
Alright, so you make a, it's a simple list of things that the owner must stay involved in. One of the things that we, we all struggle with is the owner wants to turn over the homeowner association issues to you. Well, the Homeowner Association don't wanna deal with you. They wanna deal with the owner. The owner is the customer of the HOA.
And it's hard to get the HOA to listen to you, feed you information, tell you what's going on so that you can solve it. The owner has to stay in that chair. All you can do is kind of respond to what the owner is dealing with. With the HOA, you can solve things, but it's not your problem. Managers really get this confused and they end up doing a lot of things that they don't get paid for.
And that's a bad thing in this business, especially with relationships that were established before we met. That's a really important phrase because before they came to you, they got a relationship with the county, code enforcement officer. They got a relationship with the tax office and insurance company, the deed records, the homeowners association, the builder warranty, the appliance warranty, the commercial warranty. There's all kinds of things that the owner has developed a relationship with. They wanna pass it over to you.
You can't let 'em do that. So just the name on this document solves a lot of problems, kinda wakes 'em up to the idea I can't turn everything over to the property manager. And there are good reasons why. So we'll answer later in a, in a how to implement video.
Implementing the Document
Do you have the owner sign it? When do you give it to 'em? So tweak this to your model. Go through this, let your staff read it and tweak it to your model and start implementing it as soon as you can. This was a great document.
We used it for many, many years to help shape the owner's thinking on what we do for the a hundred dollars a month. So let's move on now to the next, to the next strategy.
