PMA Module # 8 How To Use Warranties

Most managers have some kind of loosely stated warranties for their owners but many do not. Warranties are a great way to “add new benefits to the new management agreement” so current owners will be more likely to embrace it. We’ve put our owner warranties in writing for several decades and they’ve helped us win over and keep owners in our camp. There are rules (conditions) to warranties and if you don’t make those conditions clear you’ll stumble with warranties like we did for our first decade. Once you figured this out they became a great onboarding tool as well as a great way to get current owners to embrace your new management agreement.

What you get in Module #8

Over the decades we’re tweaked, deleted, revised and added warranties for our owners based on our experience with them. We’ve adopted warranties from other managers and presented them in different formats over the years. This is an evolving strategy and next year it won’t look the same as it will your first time. In this package we’ll receive several warranty formats along with training videos to address the “rules and conditions” for managing warranties. We’ll address “why you’ll not put warranties in your management agreement”, “how to use them to close the deal” and “how to use them to get your current owners to embrace your new management agreement.

These documents were created and tweaked by attorney Monica Gilroy and Robert Locke RMP, MPM and are usable in all states. Since you don’t sign them they are simply a Housekeeping Document. Always run legal documents by your local attorney before you use them.