Hey my friends, it's Mark at Grace Management. I had an email uh from one of you, a fellow property manager just today and I said, "Hey Mark, um would you mind sending me a copy of your property management agreement? We're making some updates to our agreement and would love just to look over yours and kind of see what you have in place and see how we can tighten ours up. And by the way, at the end of the video, I'll tell you where you can see find and see our property management agreement in full." And so I was happy to provide that. But it was an interesting thing and it happens all the time because I believe that your property management agreement really doesn't matter much. Don't forget the word much. It matters. So, when you're talking to new perspective owner clients, let's remember our property management agreement terms, our PMA doesn't matter that much. Now, here's what I mean by that. If you're like me, you probably get emails from prospective owner clients periodically. They're interested in partnering with you or hiring you to manage their company, to manage their property, and they'll say something like this. Um, hey, can would you send me over a copy of your property management agreement, I'd like to compare you and a couple other companies I'm vetting, and after I review the agreements, I will make a decision on who I want to work with. And there's nothing wrong with them saying that. They're trying to think logically. They're thinking contractually. They're going to compare and contrast. This is an opportunity for you to be the professional to reset expectations on what I'm talking about right now, which is the fact that that sure I'll send you my PMA, Mr. Owner client, but you need to understand the property management agreement doesn't matter much. And they're going to say, "What? What are you talking about? What?" Well, here's three points for you to make for them. And at the end of the video, by the way, I'll tell you how you counter this. Number one, Mr. drone a client. You need to understand that although the property management agreement defines some legal aspects of how we will operate, my agreement is at least 90% identical to everybody else in town. Why? Because it's written by an attorney and it has to cover certain language and legal aspects of things, but it it it's basically the same. I mean, the the fee structure will be a little bit different, but the property management agreements, Mr. Owner, client, it can't tell you. It's not designed to tell you the most important parts of this property management relationship. And they'll say, "Well, what do you mean? I don't understand what you're talking about." Well, the property management agreement, it's written by attorneys. That's why it's the same pretty much for everybody. But it can't tell you the most important things. It can't tell you how honest we are. It's not designed for that. It can't tell you how quickly I'm going to return your phone calls, how hard I'm going to work for you, how much integrity versus non-integrity I bring to the process, how quickly I'm going to release your property, the level of care I will provide to you, your property, your tenant. Doesn't tell you any of that stuff. And so what you don't want to do, Mr. owner client is simply compare three companies property management agreements and make a decision on who you want to hire based upon that. That would be like a a bride who's going to be getting engaged and she has three suitors that she's interested in. I know it's an oldfashioned word, suitor, isn't it? But she says to these three young men who want to marry her, "Well, you know what? You're all good-looking. I mean, you know, you all you're all tall, dark hair, handsome. Send me your marriage certificates. send me the contract that we will sign. I will review those and then I will decide which one of you lucky guys gets me as the wife. Like that that doesn't even like you giggle at that because it's so goofy, right? But that's the same thing. That's the same concept of let me view your PMA and I'll make a decision on whether I want to give you the key to the front door to my property based upon what's in the PMA. No, no, no, no, no. That's not logical thinking. But you need to educate and reset that and explain to them what does matter. Now, I do recommend you put your property management agreement on your website. I told you I'd be happy to share our PMA with you. I will put a link in this video to our PMA because it's on our website. I don't believe in hiding it. We want to be transparent. We of course will share that with our owner clients and we'll also share on that page on our website some of the things that they want to be watching for in our PMA and all of our competitors PMAs as well. What are some gotcha clauses, Mr. owner client that you want to watch out for whether you're working with us or anybody else. What are I I want to educate them. Educate them through the PMA. Okay. But they say now, well, Mark, what what about existing owner clients? Okay. So, I I did that. We signed up. Now, how do how does the PMA come into play? How should I use it? How does it function? How should it not function when it comes to existing owner clients? Well, before I give you some suggestions on that, I want to thank the sponsor for this video, CredHub. Right. We're talking about saying things to owners on what the PMA can't tell you. It can't tell you how well I'm going to take care of your tenants, Mr. Owner. But let me give you some ideas and some examples of how I take care of your tenants. One thing I do to attract tenants and to take care of your tenants is we do credit reporting. We report the paid on-time credit payments from the tenants onto the credit bureaus. It helps us attract tenants, improve the collection percentage from us, and collect on tenants who owe money. That's what CredHub can do for you. Now, by the way, if you're in California, do you know that you're now required by law to report on-time tenant payments to the credit bureaus? Cred Hub can do that for you. They are the solution for that. And then for the rest of us that aren't in California, why not get ahead of that? Report tenant payments to the credit bureaus. It's a huge benefit to the tenants. That's what Cred Hub can do. I know these guys. I trust them. They're great folks. Reach out, get the demo on how they can automatically, it's no work on your side, automatically report your tenants on on time and delinquent if you want payments to the credit bureaus. Okay, let's go back to our existing owner clients. What do you do when they reach out to you and your PMA clearly says something like this? we will contact you in advance for repair requests if it's over $500 and and you do that and everything's fine and they reach out and they say, "Yeah, you know, I see you did that. I'd like you to start contacting me though anytime in advance." And your head automatically goes to, "Well, the PMA specifically addresses this. How do you how do you address that with them? How do you counter them with that?" Here's what you don't do. Okay? You don't try to win, and yes, put that word in air quotes, win the argument by referring to the PMA. What you don't say is, well, Mr. Owner client, on page 17, subsection 5, line 12 of your PMA, it clearly says that I only need to call you if the maintenance is over 500 bucks. When you're in a dispute or a potential conflict with an owner client, my recommendation is don't refer back to the PMA unless it has gotten to that point of ugliness in the conversation because that ends the conversation. It's kind of a because I said so type of a thing. That's not going to convince them why what you are doing, your process or whatever is in their best interest. This is where you need to say, "Oh, let me explain to you why we do it the way we do it, Mr. Owner. Here's why it is in your best interest that we don't try to call you every time before a repair request comes in. Now, if they demand it, if they're like, "No, no, no." You may eventually have to back up to the point that you say, "Well, well, actually, this is addressed in our property management agreement." But don't start there. That's not good diplomacy. You don't say that when you get in an argument with your spouse. To use this analogy again, I'm guessing most of us don't say, "Hey, hey, honey, hold on one second." And then you you run down to the basement, you open the safe, you pull out your marriage signed certificate, and you go back up, you say, "Haha, gotcha." It clearly says right here that you you signed. That's your signature. You promise to love and respect me. Says it right here. Start respecting me more. Nobody does that. You don't refer back to the agreement when you have a relational issue with your spouse. Nor should you do that as a general rule when you have an issue with an owner client. The PMA, the purpose of the PMA is to have something in case you go to court against each other. And if you're like me, that's never going to happen. You're going to fix it way before it gets to that point in time. Hey, jump on our website, pmbbuild.com. When this comes out, we still have just a couple slots open for our strategy and action groups, which will be starting very, very soon. We're limiting this to a small number of people. I'm going to I'm going to personally take the small group through a fourmonth training on things like pricing strategy, on things like growth strategy. So jump on the website, look at our strategy and action groups. If that's something, if we still have slots open, we welcome you to join us. But until next time and as always my friends I wish you success.